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Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme

Nov
2
2011
Posted by Michael Greenberg in Regulation
0 Comments

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
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Saxo Bank launches Forex Binary Options

Aug
8
2011
Posted by Guest Author in Brokers,Retail Forex
0 Comments

In our recent interview Claus Nielsen, Global Head of trading, hinted that Saxo would launch binary options soon. This didn’t take long and Saxo announced that they will be offering Binary Touch options in six currency pairs.
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Saxo is expanding with average client deposit reaching 50K USD – Claus Nielsen, Global Head of Trading

Jul
21
2011
Posted by Guest Author in Brokers,General
2 Comments

As Global Head of Trading at Saxo Bank, Claus Nielsen manages a team of 55 professionals operating out of their Copenhagen and Singapore offices. The team handles the risk and flow in all the different asset classes, including FX, interest …
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FXCM Reports Monthly Metrics for June 2011 – Retail Customer Trading Volume of $938 billion for Q2/2011 -Highest in FXCM History

Jul
14
2011
Posted by Guest Author in Brokers,General
0 Comments

Overall the June 2011 metrics were lower compared to May 2011 metrics but higher than June 2010 metrics. Normally brokers expect lower volume in the summer months due to lower volatility, but the ongoing Greek debt crisis caused an increase …
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