Amid NFA’s grave complaint against Gain Capital, Interbank FX CEO Todd Crossland issued a statement, which may or may not be related to this issue.
And this is another fine example of what a cut throat business this is. Integral did the same when Cognotec went into receivership and FXCM offered FXPro’s US clients to register for its service when the latter announced its exit from the US market.
“Interbank FX would like to reiterate our commitment to transparency, integrity and commitment to upholding the corporate values that we have set forth. Interbank FX remains steadfast in our belief that transparency is vital in maintaining an equitable and just trading environment for our customers.
“We are proud to ‘open the hood of our engines’ for customers as we continually further our transparency efforts,” said Todd Crosland, chairman and president of Interbank FX. “In an industry that is very much dependent on financial integrity, we believe our focus on customer care sets us apart from our competitors.”
For example, Interbank FX does not employ a virtual dealer plug-in or other such mechanisms that could potentially tip odds against customers. We execute trades using our proprietary multi-bank liquidity engine, and will forever refrain from engaging in any manipulative acts or practices regarding the price of any foreign currency or Forex transaction. We do not condone abusive margin, liquidation and price slippage practices—and will never arbitrarily change or adjust leverage and margin practices.
Furthermore, our customers will never be subject to intentional delays, regardless of lot size. No settings or parameters are in place within Interbank FX’s Order Management Server that would deliberately affect a customer’s order in a negative way.
“We’re a company founded by traders, for traders. We know how important it is to have a broker who exhibits integrity in every capacity,” said Crosland. “We never adjust leverage and margin levels for our customers that would go against our core values and prevent us from carrying out what we’ve been set up to do in the first place— to help our traders succeed.”
Click here to read a full description of the Interbank FX privacy policy.
We thank you for being part of the Interbank FX Team
Sincerely,
Todd Crosland, chairman and president, Interbank FX”
Yeah, may be related or may be not. To the case how dogs eat dogs
One of my companies received a “proposal” from GFT:
“I know your firm uses GAIN Capital to offer fx to yrou cleints. Due to my past experience of working there for 4 years and also due to GAIN Capital’s current investigation by the NFA (National Futures Association), I would like to get the opportunity to discuss a partnership between our firms to provide you and your clients with a superior fx, CFD and Spread Betting solution.
GFT is larger, an older firm and has more product than GAIN Capital and has clean licenses in every region of the world we are registered.”