In conclusion, forex capital markets, being still a relatively young and mostly underdeveloped compared to other segments of the financial markets. Forex Capital markets allow retail and institutional clients to speculate on global foreign exchange markets in what is known as margin forex trading. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose.
In 2003, Forex Capital Markets entered into a partnership with Refco group, one of the largest US futures brokers at the time. Forex Capital Markets promotes no dealing desk business model for its currency products, taking prices from a number of major banks and allowing clients to trade the best price at any given time. According to Forex Capital Markets, the percentage of profitable customers ranged from 35% for those with accounts under $1,000, to 47% for those with accounts between $5,000 and $9,999.
This is also known as a direct market access model, in contrast to a market maker model more commonly used by forex brokers. Following the collapse of Refco in October 2005, Forex Capital Markets became entrenched in the Refco bankruptcy proceedings for a number of years.
In 2003, Forex Capital Markets expanded overseas when it opened an office in London which became regulated by the UK Financial Services Authority.
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