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About FXCM
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News Release
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| FXCM is Prepared
For the NFA's New Requirements |
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11/06/07 - The new net capital requirement is a minimum of $10 million for forex brokers offering greater than 50:1 leverage.
- In addition to the new net capital minimum, there are other financial requirements, which vary based upon the size of positions taken by a firm, as well as the amount of customer deposits held. These new requirement will make the actual requirement much larger for a number of FDMs.
- The new net capital requirement of $5 million, or 5% of client assets, is for FDMs offering 50:1 leverage or less.
Forex Capital Markets, LLC, an NFA-member firm, is the U.S. regulated entity of the FXCM Group. According to the latest CFTC report, on September 30, 2007, Forex Capital Markets, LLC had an adjusted net capital of $56,170,101, which far exceeds the NFAs new net capital requirements.*
Drew Niv, CEO of FXCM, endorses the recently announced increased capital requirement level; however, he believes the $20 million capital level proposed by the NFAs president and CEO in his recent congressional testimony to be excessive. The financial resources for FXCM (Forex Capital Markets, LLC) far exceed both increases of capital requirement, and FXCM stands behind the NFAs decision to raise the standards and security of US-based forex brokers, as long as they are consistent with creating a healthy, globally competitive US forex industry, said Niv.
*Source: http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
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 FXCM Awards |
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Inc. 500
List of America's
Fastest Growing Companies
Three Time Honoree
2004, 2005, 2006
FXCM was ranked #30 in the Hot 100 fastest-growing businesses in the U.S. by Entrepreneur Magazine 2008
Best FX Specialist
2002, 2003, 2004
Readers' Choice
Award Top US Forex Brokerage 2008
Best Independent Online
FX Trading System,
2008
Honorable mention
Best Currency Broker
2004
Best Currency Broker
2004
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