Banca Comerciala Romana (BCR), a member of the Erste Group, has launched the new trading platform, BCR Trader, for investors with experience in trading  forex, options, commodities and contracts for difference (CFDs).

BCR said through this platform, clients  can make deposits/withdrawals in the BCR Trader account on the same day, unlike other similar platforms, where such transfers can take more than two days. The new platform is specifically designed to meet the active investors’ requirements, triggered by the trading of financial instruments with high leverage (starting from a 1% margin for certain instruments), using an intuitive interface that offers a complex set of instruments for assessing the market conditions.

The BCR Broker trading platform provides investors access to shares, bonds and securities listed on the local market (Bucharest Stock Exchange) or on the international markets. The two platforms BCR Trader and BCR Broker are integrated in an investment portal.

http://ecnandexchanges.banking-business-review.com/news/banca-comerciala-romana-launches-new-trading-platform-250311

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INVESTORS should be banned from trading contracts for difference unless they prove they can handle the highly complex derivatives, the Financial Ombudsman Service (FOS) has said. The call for a ban in  the FOS’s annual review goes beyond the independent complaints body’s earlier written submission to the corporate regulator asking for comprehensive education to protect investors.

”In our experience, the only investors who trade in CFDs successfully are sophisticated traders who watch and manage their investments full-time,” the FOS stated in its review.  In the review, the FOS raised the need for CFD traders to obtain a certificate from an accountant or financial planner to show they are competent to trade CFDs. The FOS’s  investments ombudsman, Alison Maynard, said in an interview: ”We think a certificate from an accountant or an AFSL holder [financial planner] would be an appropriate safeguard.”

The FOS’s annual review for last year said of 54 complaints it had received in derivatives and hedging, half related to CFDs. ASIC’s approach, foreshadowed in a November consultation paper, focuses on CFD providers meeting a regime of disclosure against a set of benchmarks.

http://www.smh.com.au/business/call-for-cfd-trading-certificate-20110307-1bl5a.html

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GAIN Capital, a global provider of online trading services, today announced the addition of nine new currency pairs and six equity index CFDs to its FOREX.com product offering. The new available currency pairs include Eastern European pairs including the Polish Zloty (USD/PLN, EUR/PLN), Czech Republic Koruna, (USD/CZK, EUR/CZK), Hungarian Forint (USD/HUF, EUR/HUF) and Turkish Lira (USD/TRY, EUR/TRY.)  In addition, the South African Rand/Japanese Yen cross (ZAR/JPY) is now offered, a currency pair popular among carry traders. FOREX.com also added six new CFDs on popular global equity indices, allowing clients to take long  or short positions on broad stock markets in Australia (AUS200), Japan (JPN225), Hong Kong (HK40), USA (US30 and NAS 100) and Europe (ESTX50).

“Today’s product expansion marks another milestone in our commitment to providing our clients access to the most widely traded global markets, including forex, stock  indices, or commodities.  As part of this commitment we are constantly looking at ways to enhance and expand our product and service offering,” said Glenn Stevens, CEO, GAIN Capital.  Clients of FOREX.com can now trade 48 currency pairs, ten equity index CFDs,  plus gold, silver, and oil CFDs.

GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). Customers and trading partners in more than 140 countries have utilized the company’s award-winning trading platform which transacts nearly $250 billion per month. A pioneer in online forex trading, GAIN Capital operates FOREX.com, one of the largest and best-known brands in the retail forex industry.  It also provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN’s investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.

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The winner of  the Axi Trader CFD trading competition managed to turn $50,000  into $836,216 in just 1 month.  And in tenth place the trader more than doubled their account in just 1 month.

This is an impressive trading result and an indication of what is possible trading CFDs.

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The founders of the collapsed contracts for difference provider Sonray Capital Markets withdrew hundreds of thousands of dollars from client accounts and put the money into their own accounts using a complex system to conceal the transactions, a public examination heard yesterday.

The co-founder Scott Murray said he used multiple ”house” and unfunded accounts in various names, including at least one client’s name, in an effort to make successful trades and recover amounts that had been transferred out of the clients’ pooled account.  Mr Murray was being examined as part of Ferrier Hodgson’s investigation into the firm’s collapse, which left a $46.7 million hole in investors’ trading accounts.

Sonray also directly paid the mortgage repayments on a holiday home in Sorrento, Victoria, that was owned by the other founder, Russell Johnson. The home doubled as a disaster recovery residence for Sonray as it had a computer on the premises that had access to the trading platform.

The examination of Mr Murray, the chief executive of Sonray, in the Victorian Supreme Court in Melbourne, heard that clients’ money was withdrawn from a segregated account and lent to his father, John Murray. The two loans, one for $100,000 and another for $300,000 were at no interest.

The examination heard that money was also transferred from client segregated accounts to pay creditors relating to the building of a wholesale trading platform. Funds were then withdrawn and deposited into his bank account to pay his home mortgage.  Mr Johnson used an estimated $550,000 for his own personal purposes, it was alleged.
Mr Murray rejected the allegation that the transfer of money was concealed. He said in the early days of Sonray being set up he was paid little in the way of salary. Sonray, which Mr Johnson and Mr Murray founded in 2003, went into external administration on June 22, after a bailout attempt by Saxo Bank fell through.

Mr Murray has since given an undertaking to the Australian Securities and Investments Commission that he would not leave Australia without consent, and Mr Johnson has surrendered his passport. Mr Murray said there had been deficiencies in client accounts for years and that Saxo Bank was aware that hedging was being done in house accounts in  mid to late 2008.

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Leading online financial products trading company AvaFX has established an office in Paris as part of it’s strategy to provide the best quality service and support to its growing French customer base. “Since online CFD and forex trading is relatively new in France, many traders have been waiting for  an opportunity to learn and gain more expertise. Our seminars and conferences are a great opportunity for French customers  to acquire knowledge and discuss their strategies.”

French traders will now be able to receive local support and enjoy the whole suite of Ava’s services including a wide variety of complimentary seminars and conferences on CFD and FX trading in the new Paris office.
Manager of the new Paris Office Florent Le Manach, noted  that “since online CFD and forex trading is relatively new in France, many traders have been waiting for an opportunity to learn and gain more expertise. Our seminars and conferences are a great opportunity for French customers to acquire knowledge and discuss  their strategies.”

AvaFX CEO, Emanuel Kronitz commented that “this new office comes quickly after our acquisition of a regulated online Japanese FX trading company. This highlights the success of our strategy to continue our impressive growth through global expansion, organic marketing, and selective acquisitions within key target markets”.

The new French office is part of AVA CAPITAL MARKETS LTD., the European arm of the AvaFX Group, an Irish regulated CFD trading broker offering one-click FX, commodities, indices,  stocks, and bonds trading. Since starting four years ago, AvaFX has become one of the fastest growing forex & CFD trading companies.

Through its client oriented approach AvaFX has gained over 50,000 clients globally and trading more than $40 billion per month. AvaFX provides multiple trading platforms for he beginner and expert trader. Expert data and analysis is provided by the company in order to better assist clients to trade more effectively and profitably. AvaFx’s success can be attributed to their customer focused approach which has seen the company win many awards in the past twelve months including the Daily Forex customer service award.

CFDs In France

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GAIN Capital Holdings, Inc., a global provider of online trading services, today announces the addition of equity index CFDs to its FOREX.com offering in Australia and the launch of a new Australian website for its clients, featuring enhanced web and mobile trading capabilities.
FOREX.com’s equity index CFDs give clients access to trade popular global equity markets, representing major indices in the UK (UK100), Germany (GER30), France (FRA40) and the US (SPX500). Over the coming weeks the range of CFDs will expand to include Australia (AUS 200), Japan (NPN 225), Hong Kong (HK 40), US Indices (NSD 100, US 30) and Eurostoxx (ESTX50).

“We are excited to announce the launch of new equity index CFDs to our clients in Australia, New Zealand and the wider Asia Pacific region, along with the rollout of enhanced web and mobile trading capabilities.” said Glenn Stevens, CEO, GAIN Capital. “Our ambition is to offer our clients access to the world’s most traded market. The addition of index CFDs alongside our existing forex, metals and oil products is an important milestone in that regard.”
FOREX.com opened an office in Sydney earlier this year to provide local customer support and service for its clients in Australia and New Zealand and from the wider Asia Pacific region. The company’s Australian operations are regulated by the Australian Securities and Investments Commission (ASIC).

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The time has come to make sure you are registered for the new CFD Trading Challenge brought to you by YourTradingEdge magazine and AxiTrader.

Participants will be able to trade Indices, Commodities, Precious Metal CFDs and Forex offered on AxiTrader’s award winning MetaTrader 4 platform with a starting balance of $50,000 in virtual funds.

The challenge will run from August the 16th through to September the 17th.
Registrations must be received by August 13th.
1st  Prize: $5,000 cash in an AxiTrader trading account
2nd Prize: $2,000 cash in an AxiTrader trading account
3rd Prize: $1,000 cash in an AxiTrader trading account

10 runners up: $500 trading credits in an AxiTrader trading account
All winners will also receive 1 years subscription to YourTradingEdge magazine

AxiTrader CFD Trading Challenge

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Deltastock  will release 18 new CFDs on Exchange Traded Funds (ETFs) in its platform Delta Trading™. The total number of CFDs on ETFs that can be traded with Deltastock is 35.  Clients now have access to a wide variety of instruments covering all major global financial markets.
The margin for the new ETFs is 10% and the commission per trade is 0.1% (min 4 EUR). Clients can also trade these ETFs on 100% margin and benefit from 0% interest rate when holding long or short positions online overnight.

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The Throgmorton investment trust ended a 50-year contract with Axa Framlington and moved to BlackRock in 2008, with Mike Prentis and Richard Plackett taking over. They run long-only and contracts for difference (CFD) portfolios and both have contributed to recent performance, despite the upsurge in volatility at the period end.

Over six months to May 31, the trust delivered 12.3 per cent against the 7.3 per cent posted by the Hoare Govett Smallers Companies index. Mr Plackett and Mr Prentis  said their outperformance was primarily driven by investing in good-quality stocks, including well-financed mining companies, relatively defensive international businesses with predictable or recurring revenues, and firms subject to bids.
Among the miners, Western Coal and Eastern Platinum were the best performers, with the former benefiting from substantially higher coal prices.

“Of the more defensive businesses, the best contributors included Abcam, Fidessa and Hutchison China Meditech,” added Mr Prentis. “All have exceeded expectations over the period.” Sector allocation in the long-only portfolio was also generally good, with overweights in software, electronics and electrical equipment beneficial, as were underweight positions in general retailers and real estate.
Meanwhile, the CFD portfolio remained net long throughout the period, with gains from positions in both Chloride and BSS Group.

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