London, United Kingdom, October 26, 2010 --(PR.com
)-- TFIFx, a TFI Markets online brand and provider of online Forex trading/Inter-currency payments service organization, welcomes the U.S. Commodity Futures Trading Commission (CFTC) for setting determined new rules which will further protect retail Forex traders. Japan's Financial Service Agency was the latest to introduce a 50:1 cap on August 1. CFTC's new rules require Forex dealers/brokers to cap leverage at 50:1 on major currency pairs and 20:1 on exotics. The new legislation took effect in the U.S on October 18, 2010.
"We are very pleased as the new CFTC ruling sets leverage limits on major pairs along the same lines as the limits we already promote..." said Loucas Marangos, CEO of TFI Markets ltd. "In the interests of our clients, we always suggested a maximum leverage of 20:1 while our maximum available leverage was 1:100." The rules also require CFTC registration of introducing brokers (IBs) and trading advisors, who need to maintain a minimum net capital requirement or enter into a guarantee agreement with a Forex broker. Loucas assures TFIFx
clients that the new CFTC is a further acknowledgment of TFI’s long term commitment to customer service and loyalty. "We have always practiced business in the same transparent ethos since 1999..hopefully Europe will soon follow the U.S.A. paradigm in order to further protect the retail Forex Business"