Whether you are a retail or small institutional forex trader, we all need to trade through a forex brokerage firm. The bigger you are the closer you move to the major market participants - banks, mutual funds, hedge funds, large investment firms. They take up about 75% of the forex market capitalization. Some banks could be brokers themselves. The remaining 25% are individual traders like you and me, and small trading firms.
Selecting a right forex broker is not a static activity. It is a dynamic one depending on one or more of the following factor
-What stage of your trading career you are in. You trade for your own money or manage other people's money as well
-Services of a particular forex broker that address your requirements for trading.
-Tax implications if you open trading account with a broker domiciled in U.S. or U.K. or Switzerland or tax haven countries like Hong Kong, Singapore, British Virgin Island, Bermuda, Cyprus, so on.
-Changes of the industry regulations. For example, a new leverage of 50:1 (the old one was 100:1) imposed on U.S. based forex brokers effective on October 18, 2010 has already impacted on traders having accounts with them.
Unlike the stock and commodity markets, the forex market is loosely regulated. Regulation is voluntary rather compulsory. Brokers that choose to be regulated hopefully luring in more clients opening accounts with them. Having your fund deposited in a regulated forex broker certainly enhances the chance of your fund safety. Details of this issue are discussed in the section 'Safety of Your Funds'.
If you've just started out or are exploring a forex trading career, there are many choices of brokerage firms out there for you today. Your objective in this stage is probably to test the water. You could deposit a couple of hundred or thousand dollars. This is a relatively small amount of trading capital. However, when you progress with your trading career, tens of thousands or even hundreds of thousands or millions dollars are large amounts of money, your most concern would be the safety of your fund.
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On the other front, some individual traders and trading firms are concerned about minimizing tax expenses, they may choose to open accounts with a particular country domiciled broker for the tax purposes. At this point in time, U.K and Switzerland based brokers are probably popular choices because these countries are tax havens as well as having well established regulatory bodies for the forex market. Other Caribbean tax haven countries like Anguilla, Bahamas, Barbados, Bermuda, British Virgin Islands, Cyprus, etc; Panama, the Russian Federation, Costa Rica, might lack such well estabished regulatory bodies. At this time of writing, some forex brokers setting up offices in Hong Kong and Singapore are on the rise to provide clients with better regulatory reputation and tax advantage.
Due to the recent collapses of large and well established financial giants like Lehman Brothers (U.S.), Northern Rock (U.K), Kaupthing, Glitnir, Landsbanki (Iceland), and other smaller financial institutions all over the world, have had implications on other financial markets including forex. One of the evidences is that, in October 2010, the National Futures Association (NFA) in U.S. imposed new leverage rates of 50:1 for major currency pairs and 20:1 to the cross ones from the standard 100:1 to retail clients from all forex brokers domiciled in U.S., while brokers outside U.S. have no impact from the changes. By saying that, it doesn't mean either a positive or negative news, it depends on who looks at it! For a minority of winning traders it doesn't matter too much as there are always better opportunities arising from the changes, while the majority of losers keeps complaining about the changes.
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Successful traders consider their brokers as a risk point in their trading systems. So they understand the rules of the game and do everything they can to minimize the risks associated with the brokers.
Forex broker firms could go bankrupt like any other businesses. Here are some examples: Crown Forex SA based Switzerland went bankrupt in May 2009; U.S. based Refico went bust in October 2005; and you can find many more in the media
Firstly, selecting brokers who put your fund in a segregated account from their firms' ones only. In case of bankruptcy, your fund would have a higher chance of being returned to you.
Secondly, going for brokers who are voluntarily registered with a well established regulatory body like NFA (National Futures Associations) and CFTC (Commodity Future & Trading Commission) both in U.S., or FSA (Financial Services Association) in U.K., or ASIC (Australian Securities and Investments Commission) in Australia, or probably SFBC (Swiss Federal Banki
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A New Jersey Business Registration Certificate refers to you and sets your company as an official entity recognized by the state for tax purposes.
Some professions, like new home constructionists, need a separate professional registration by a special governing board.
If the office doesn't require this information, ask if they can check with your accountant or tax preparer to ensure the information is correct.Business owners are reminded to register both their companies and their individuals in the same way: because it is a good idea for them to be familiar with their legal names and to avoid being penalized for double filing.
Therefore, always keep a copy of your public profile available and always make sure that your company is registered with the proper authorities - New Jersey state tax and licensing agencies for instance.In addition to business registration, you must file a New Jersey State Taxation form along with your application.
It must be filed on paper and must be accompanied by the fee.
You must file a Special Registration Statement which reports on your ownership structure, ownership status, date of birth, previous owners and beneficiaries.
Developing countries, also known as emerging markets, are rapidly becoming the engine of global economic growth.
According to the International Monetary Fund, it is expected that emerging economies will develop two to three times faster than highly developed countries such as the US.
Emerging Markets save the world economy
Emerging Markets rescued the world economy during the biggest crisis in 2008, and the global markets have been rescued from a total catastrophe by emerging countries such as China, India and Brazil.
Major Wall Street companies, such as Lehman Bros, required government rescue operations, which shaken the world economy, contributed to a deep economic recession and an even deeper crisis of confidence.
Until now, European, Japanese and American stocks were mainly purchased by international investors, which accounted for almost half of the market capitalization.
Why is it important to follow a few steps?
This blog is a concentrated summary of what I have discovered and learned, how I have put the pieces together, to form one of the Matrices of Life.
That which is not fitting into your logical perception seems miraculous to you.
As your logic evolves, so many things which were miracles hundred years ago, are…normal things in our day to day life today.
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Commercial real estate is a very profitable venture.
It is sometimes difficult for experts to maximise their investment as well.
The potential rewards for investing in upscale commercial property in Gurgaon can be very promising.It is better to buy commercial real estate like Elan Epic Sector 70 Gurgaon instead of leasing space from a provider.
Renting also means that internal costs are very high.
You can also enjoy investment benefits and tax benefits over the years.
It serves as the headquarters of many prolific Indian businesses and start-ups.
The Icing Sugar Market sheds light on present scenario and upcoming trends and developments that are contributing in the growth of the market.
Icing Sugar Market Report presents the conceptual study and strategic analysis which provides market scope, applications, a topographical presence that drive the Icing Sugar market.
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The detailed overview of the market segments, product description, Icing Sugar applications is presented in this report.
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Although one of these destinations may be less extreme than others, that's what drones are for.
They can also drop off groceries at your doorstep and just about anywhere else.Drones were originally developed for military and aerospace purposes.
The autonomy level of a drone can vary from remote piloted (where a human controls its movements), to advanced autonomy which means it depends on sensors and LIDAR detectors for its movements.Different drones can travel at different heights and distances.
Hobbyists tend to use drones that are very close to the ground.
The mid-range UAVs can travel up to 400 miles and are suitable for intelligence gathering, scientific studies, and meteorological research.
They can travel over 400 miles and fly up to 3,000 feet.Drones are able to be controlled remotely and flow at different heights.
