The CFTC has just released the latest Adjusted Net Capital Numbers.
http://www.cftc.gov/marketreports/fi...fcms/index.htm
Now that the NFA has officially raised the minimum capital requirement to $5 million (
http://www.nfa.futures.org/news/news...ticleID=194 2) these numbers are more important than ever so pay close attention everyone.
Poorly Capitalized Firms
Advanced Markets ($1,042,000)
American National Trading Corp (Merged with PFG)
Bacera Corporation (Shutdown!)
Cal Financial Corporation (Shutdown!)
Direct Forex ($1,117,000)
Easy Forex ($4,731,000)
E FX Options ($3,342,000)
Forex Club ($3,715,000)
FiniFX (Not Accepting New Customers)
Forward Forex (Shutdown!)
FX Option1 Inc (Shutdown!)
GFS Futures & Forex ($3,259,000)
Hamilton Williams ($1,004,000)
MB Trading ($2,393,000)
Nations Investments (Shutdown!)
One World Capital ($1,078,000)
Performance Capital International (Vanished)
Royal Forex Trading (Merged with IKON)
SNC Investments ($1,130,000)
Solid Gold Financial ($1,955,000)
Spencer Financial (Shutdown!)
Trend Commodities (Shutdown!)
United Global Markets (Shutdown!)
Worldwide Clearing (Shutdown!)
Wall Street Derivatives ($1,220,000)
Unregulated Firms (Buyer Beware)
FXDD (?)
GCI (?)
WestCapFX (?)
ACM (?)
MIG (?)
DukasCopy (?)
GFX Group (Forex.CH) (?)
Crown Forex (?)
Krusty's Currency Trading (?)
Tradex Swiss AG (Shutdown!)
NorthFinance (?)
We have just about reached the time for choosing. The brokers in the Dead Pool have known about the NFA’s plans to increase capital requirements for some time now. And yet most have not made much of an effort to increase their reported adjusted net capital (with the exception of Money Garden who just raised the reported capital to $5 million. As a result they have been removed from the pool.)
That’s a major red flag in my book. As such I will continue my dispatches on the Dead Pool and warn traders to avoid these firms until they show they can meet the new capital requirement passed by the NFA and awaiting approval by the CFTC.
One final note, I have included Swiss brokers in the “Unregulated Firms Buyer Beware” list. I have two words for anyone considering opening an account with an unregulated Swiss broker “Tradex Swiss.” Don’t make the same mistake the poor traders at Tradex Swiss AG made and trade with an unlicensed broker that is unaccountable to anyone because should the firm get into trouble NO ONE is going to help you get your money back.