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Looks like FXCM and Oanda are both really focusing on the Japanese Forex markets. Oanda just recently acquired a majority state in Japanese broker MyGaika in October, 2010.
FXCM said Wednesday that its subsidiary FXCM Japan Securities Co. Ltd. has agreed to acquire Japanese foreign exchange broker Foreland Forex Co. Ltd., subject to certain adjustments. The financial terms of the deal were not disclosed.
The agreement is subject to final documentation and is anticipated to be completed in the first half of October.
Foreland is one of the oldest and most established Japanese FX brokers, offering retail FX trading since 2001. They have established a reputation for offering attractive swap points, competitive spreads, and aiming to expand a customer’s trading life by offering market commentary and analysis, education and trading tools.
via FXCM Subsidiary To Acquire Foreland Forex Co. – Quick Facts.
The CFTC had filed ten enforcement actions against eleven different firms allegedly illegally soliciting the public to engage in foreign exchange (“forex”) trading while remaining unregistered with the Commission. This is the second multi-business sweep the CFTC has orchestrated this year. In January, suits were filed against 14 other entities for similar violations.
Suits were filed against the following firms:
1st Investment Management, LLC, a Wyoming LLC;
City Credit Capital, (UK) Ltd., a United Kingdom company;
Enfinium Pty Ltd., an Australian company;
GBFX, LLC, a New York LLC;
Gold & Bennett, LLC, a New York LLC;
InterForex, Inc., a British Virgin Islands company;
Lucid Financial, Inc., a Utah corporation;
MF Financial, Ltd., a Belize company with offices in New York City;
O.C.M. Online Capital Markets Limited, a British Virgin Islands company
Trading Point of Financial Instruments Ltd. a Cyprus company; and
Windsor Brokers, Ltd., a Cyprus company.
via Eleven unregistered forex firms sued by CFTC.
OANDA Corporation has established a new operation, OANDA Japan Incorporated. The Tokyo-based subsidiary will support OANDAs rapidly growing institutional client base in Japan, and help fulfill the companys aggressive business development efforts across the Asia Pacific region.
“To establish a strong foothold in the Japanese market, OANDA acquired a majority stake in Japanese broker MyGaika in October 2010. Renamed OANDA Japan Inc., this subsidiary takes advantage of liquidity and technology from OANDA Corporation while otherwise operating as an independent organization.
OANDA Japan manages risks and sources liquidity independently, so its platform pricing will vary from that of OANDA Corporation and its other subsidiaries.
Leverage is restricted to a maximum of 25:1, in accordance with Japanese financial regulations.
via OANDA Expands Presence to Dynamic Japanese Forex Market – Yahoo! Finance.
AutoConnect is designed to combat dangerous impulse trading decisions by allowing users to autotrade with a portfolio of 300 automated systems. When a trader chooses a strategy that suits their style, the buy and sell signals for that system automatically open real trades in their FX Solutions live account whenever a trade signal is generated.
The software allows Forex traders to control their trade size and risk tolerance independently for each system they subscribe to. Customers can also combine multiple systems to create their own unique portfolio.
via FX Solutions Helps Traders Eliminate Forex Guesswork With AutoConnect – MarketWatch.
