Base metals

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Latest data: US total vehicle sales unchanged at 18.2 million units, China Caixin services PMI 52, J. ZINC TODAY - Surprisingly weak but this may be an opportunity by WAdams - 03-11-2015

The cuts have changed the outlook considerably in our view. Sentiment may still be weak but the we expect. METALS MORNING VIEW - Alcoa's cutbacks, another step in the right direction for the metals by WAdams - 03-11-2015

A look at the break down in the volume so far today, see table below, shows aluminium is in the spot. ZINC TODAY - Looking for direction after Glencore-inspired breakout by TMoore - 16-10-2015

Zinc is testing key support from the 7 DMA, which has been shaping the price higher, on reduced buying. METALS MORNING VIEW - Dollar weakness drives gold prices, base metals hold up in high ground by WAdams - 15-10-2015

The base and precious metals ended up putting in a positive day yesterday helped by disappointing US.

The refco bankruptcy and its impact on retail forex trading

The refco bankruptcy and its impact on retail forex tradingThe Refco Bankruptcy and its Impact on Retail Forex Trading

The Refco IPO and Fraud Scandal

New York-based Refco Inc. was a large and well-known forex and commodities brokerage house that was one of the main futures brokers on the Chicago Mercantile Exchange. In 2005, the broker was forced into filing Chapter 11 bankruptcy from creditors in the wake of an announcement about fraudulent practices involving their CEO Philip Bennett hiding the companys bad debts. This fraud was facilitated by loans from Bawag P. S.K, the fourth largest bank in Austria.

Interestingly, this blow came just after an Initial Public Offering of stock for Refco was made, raising suspicions that the forex brokers management had been guilty of dressing its books to make the IPO more successful. The IPO shares were offered to the public at an initial price of $22 per share through a number of investment bankers that included Credit Suisse First Boston, Goldman Sachs, and Bank of America that were all supposed to have reviewed the brokers finances as part of their due diligence. Read our story about Goldman Sachs involved in a one billion dollar forex scam !

Refcos shares were traded publicly for just two months, and even hit a high of $30.12 on September 7 th of 2005, before the fraud was disclosed barely a month later on October 10 th. The announcement understandably panicked investors, sending the 26.5 million shares of the newly-public company crashing to just $0.80 a share.

Although the forex broker had previously boasted of annual earnings of 33% per year before being taken public, it was basically forced into declaring bankruptcy just two months later.

How the Bankruptcy Affected Refcos Accounts

Phillip Bennett was the CEO of Refco. In October of 2005, Bennett was accused of padding the companys finances by hiding $430 million in bad debts of a wholly-owned and unregulated subsidiary which he controlled by the name of Refco Capital Markets.

Refcos forex brokerage arm, Refco FX, LLC, was holding over 17,000 retail customer brokerage accounts at the time that Refco declared bankruptcy shortly thereafter. In the bankruptcy proceedings, Bank of America and other large creditors managed to convince the bankruptcy court that Refcos customers were actually unsecured creditors because of Refcos failure to segregate its customer accounts from their own general funds, despite telling customers that it had done so.

This legal maneuver resulted in the unsecured customer accounts being considered as creditors only after the secured customers in the distribution of whatever funds were left to be distributed. Although FXCM made a reasonable offer in late 2005 to purchase the RefcoFX accounts, it was rejected and most of the brokers 17,000 customers eventually received little or no compensation for the balances in their brokerage accounts at the time they were frozen by the bankruptcy.

The Refco situation perfectly illustrates how a forex brokers financial troubles can result in the loss of their clients money on deposit without their customers having any effective legal recourse just by having client accounts comingled with their own.

The Impact of Refcos Failure Today

Refcos wide-reaching failure continues to impact the retail forex and commodities market, not to mention the billions of dollars lost for the initial investors in its now virtually worthless stock. The total fraud has been estimated at $2.4 billion, of which less than half was recovered for creditors.

While Refco had had problems with its reputation as a broker before the fraud was exposed, many of their retail forex customers were unaware of this and lost all of the money in their accounts. The lessons of Enron, which were still fresh in peoples minds at the time, were not heeded.

Avoid Brokers Who Co-mingle Accounts

In light of the Refco debacle, it pays to have an idea of what to avoid to prevent what happened to Refco s forex clientele from happening to you. A number of simple considerations should be taken before opening a forex trading account with any broker, see more about forex demo accounts.

The big mistake made by the Refco customers was that. whether they were aware of it or not, their funds were held in co-mingled accounts. In other words the customer account money was placed in a larger account which held money from a variety of sources, primarily Refcos.

By having their money in co-mingled accounts, the customers could not claim their assets ahead of other creditors when the firm filed for bankruptcy. Accordingly, avoid co-mingled accounts.

Beware of Difficult Withdrawals

One item that seems to be missed more often than not is, once you have given the brokerage your money, how easy will it be to get it back. Many people open accounts without reading the fine print and are only made aware of key facts once funds are committed.

Basically, if a brokerage firm makes withdrawing money difficult, this could be a clear sign that they may not intend to give it back. Read all the fine print and make sure you can get your money out of your account without too much hassle.


The Refco scandal cost many people plenty of money. Remember, they were once fairly reputable and even boasted 33% earnings per year and issued millions of shares of stock while their CEO was committing a huge fraud for which he is now serving time. The Refco bankruptcy has taught everyone involved in trading forex a severe lesson.

Other interesting forex fraud stories:

Forex brokers canada

Forex brokers canadaconventional long form: none

conventional short form: Canada

Area: 9,984,670 km 2

Location: Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US

Population: 32,507,874 (July 2004est.)

The Bank of Canada's responsibilities focus on the goals of low and stable inflation, a safe and secure currency, financial stability, and the efficient management of government funds and public debt.


Online forex trading and training course. More


Custom House Global Foreign Exchange provides foreign exchange solutions including global payment solutions, international wire transfers and drafts, forward exchange contracts and. More


Foreign currency exchange, retail and wholesale dealers in cash, wires, drafts, and precious metals. Daily rates, news and exchange history. More


ercantile Exchange Corporation, Toronto, Canada. Foreign Exchange Made Simple, Free Global Wire Transfer, Buy Sell Currency, USD, EUR GBP CAD Exchange, FX Trading Market, FX Rates. More


Dealing in 11 currencies, NBG Bank foreign exchange services help you manage your currency exposure when buying or selling internationally. Whether you need a U. S. dollar accoun. More


RefcoFX Canada serves the growing number of online traders interested in the currency market. RefcoFX Canada is a member of the Refco Group and offers clients the comfort of tradin. More


Current buy and sell rates of over 100 different currencies. Includes currency converter in CAD and USD funds. More

Gold,silver,platinum,and palladium trading

Gold,silver,platinum,and palladium tradingGold, Silver, Platinum, and Palladium Trading


Platinum and palladium

Coins and bars pictured are not actual size. Fine content is measured in Troy ounces. Pictures are reprinted with permission of FideliTrade.

Other ways to invest in precious metals

Fidelity offers additional ways to gain exposure to precious metals. For example, you can purchase mutual funds and exchange-traded funds (ETFs) that invest in the securities of companies involved in the production of gold and/or other precious metals. Although most mutual funds provide indirect exposure, they often provide greater diversity than direct investment in a single commodity.

Note: The precious metals market is extremely volatile, 3 and investing directly in physical precious metals may not be appropriate for most investors.

Things to consider

IRAs are subject to federal laws and restrictions governing their investments in precious metals. 4 The only precious metals permitted to be purchased in a Fidelity IRA are:

Forex capital markets

Forex capital marketsForex Capital Markets publicly traded company

Forex Capital Markets ( FXCM ) are foreign exchange markets where the currencies are been bought and sold continuously for profits. The Forex capital markets are present globally and transactions are non-stop in this market. Whether its USA or Tokyo, one would find aggressive forex brokers and dealers peering into their computer screens and on the telephone for minor changes that might affect this currency trade.

Forex Capital Markets is also known as an online foreign exchange market which is based in United State. FXCM provide services through its own online trading platforms and also through third party platforms. Forex Capital markets allow retail and institutional clients to speculate on global foreign exchange markets in what is known as margin forex trading. Outside the US, FXCM also provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil.

Forex Capital Markets was built in 1999 in New York. It was one of the early developers of online forex trading. In 2003, Forex Capital Markets entered into a partnership with Refco group, one of the largest US futures brokers at the time. Refco took a 35% stake in FXCM and licensed the Forex Capital Markets software for use by its own clients. 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. The same year it continued its overseas expansion and opened FXCM offices in France and Australia. Now Forex Capital Markets has its headquarters in New York and offices in Dallas, San Francisco, Hong Kong, London, Tokyo, Paris, Berlin, Sydney, Dubai, Beirut, Milan, Santiago de Chile, Athens, Jerusalem and Tel Aviv. FXCM also owns the Forex trading news and research web site.

The Forex Capital Markets business model allows retail clients to speculate on forex markets with leverage. 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. This is also known as a direct market access model, in contrast to a market maker model more commonly used by forex brokers.

In conclusion, forex capital markets . being still a relatively young and mostly underdeveloped compared to other segments of the financial markets. Forex Capital Markets given their intrinsic volatility represents a remarkable opportunity to the educated currency trader . FXCM Elements that will help us to succeed are incessant practice. thorough knowledge of the history. science and art of currency trading, ability to deal with trade failures and the perseverance to be a forex trader with discipline. 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.

Forex Capital Markets

Forex, short for Foreign Exchange, is the conversion of one currency to another in a real-time trade. As a business venture, you could potentially earn money easily so long as you have knowledge of the industry, and the required information necessary to make a favorable investment.

Lets look at an example. Lets say you exchanged 500 USD for 22,660 Philippine Pesos, resulting in a 45.32 unit exchange rate. After a few months the US economy goes down, and the USD value dropped to 44.88 in Pesos, resulting in you making money. If you wanted to make even more money, you could now invest in the weaker USD and wait for it to reclaim its value in the market.

After several days, as you have anticipated, the dollar has reclaimed its former value, making a new rate of 1 USD. 45.55 PHP (Philippine Pesos). Now that you have even more money to invest, you can buy another currency and repeat the process. Imagine if you had invested ten times as much as the example, or even one hundred times the amount. Hopefully by now you are beginning to see the Forex markets potential.

Forex Capital Markets are so dynamic, fast-paced, and large that you can literally make thousands in an instant. The Forex market is open 24 hours a day, Monday through Friday. Many people prefer engaging in Forex trading more than any other, including stocks. There is less risk, the market is open longer, and your assets are less vulnerable. These are some of the very reasons why many investors see Forex trading as a direct competitor to the stock market. People all over the world are doing their best to get involved in this promising commercial undertaking. While this may be one of the oldest trading markets in the world, it has never been a very popular one. However in recent times, due to regulation changes and technological advancements, it has become one of the fastest growing industries of the 21st century.

Forex got its start in banks, involving mostly large sums of money. Nearly two decades ago, it opened its doors for businessmen and women to participate. Rates where changed to compete with banks, and private brokers started getting involved. All of these events made Forex what it is today. Now just about anybody can get involved and start making money the same day.

Forex trading egypt-a blog by abayomi,a forex trader

Forex trading egypt-a blog by abayomi,a forex traderThursday, 29 January 2015

Gold trading online Things You Need to Know

Gold trading online has become pretty popular nowadays, especially now that fears of a massive financial breakdown are widespread. Gold and other precious metals are now in high demand because unlike minted currency, they are not affected by inflation. If you are thinking of starting your own precious metals trading account, then there are a number of things that you should know:

There is a low rate of return

The problem with gold trading online, or trading in precious metals in general, is that their prices do not behave the same way as other markets do. A good example is the forex trading market wherein you can expect a good rate of return over a short period of time.

But even though the rate of return is low, the one thing that precious metals trading has going for it is that since their value is not tied down to one particular currency, they are almost impervious to depreciation. If you want a way to save your money's purchasing power, then you may want to invest it in precious metals.

Gold and other precious metals are subject to price corrections

Just like any other tradable commodity, gold and other kinds of precious metals are still subject to price corrections. The problem with trading in precious metals is that if you do not hold onto your gold long enough, these price corrections may cause you to lose money, so you need to take them into consideration when you go into trades.

You can easily trade in gold online

Going into online gold trading is actually more secure than most other trades because you are not required to have physical ownership of the gold you are planning to trade with, thus making it pretty much similar to forex trading. In fact, plenty of forex trading companies also offer precious metals trading in their list of services; so besides choosing currencies, you have the option of trading in gold, silver, and other precious metals.

Though it may seem like trading in precious metals is a relatively safe way to invest your money, there are still some risks involved that you need to take into consideration; and you also need to take note that it may take a long time before you can make a significant amount of profit, depending on the strength of the economy.

So just like any other investments, in gold trading online, you should never invest money that you cannot afford since there is a chance that it will remain frozen for a long time and may not even increase in value unless there is a significant decline in the economy that causes printed money to drop in value; but in any case, gold and other precious metals are still a good investment.

Swiss exclusive ecn forex trading

Swiss exclusive ecn forex tradingSwiss Exclusive ECN FOREX Trading

For active traders, hedge funds, banks and professionals

At Dukascopy Bank SA, you can trade spot Forex and bullions (precious metals) through the same platforms.

Dukascopy Bank has a shareholder capital of CHF 22 000 000 and provides trading services based on the following main principles:

Equal trading rights – all clients have equal possibilities to provide and consume liquidity within the trading environment (marketplace business model);

Transparent pricing environment – all clients have access to the same liquidity at equal prices through a single datafeed.

Whilst developing its unique trading environment and providing professional Forex trading services Dukascopy Bank has chosen the following priorities:

Attractive spreads (base spread for EUR/USD 0.2 pip, GBP/USD 0.5 pip)

Security of the funds (learn more )

Deposit Protection

Dukascopy Bank SA is, like all banks and securities dealers in Switzerland, mandatory signatory of the "Swiss banks and securities dealers’ agreement regarding deposits protection". Client’s deposits are protected until maximum CHF 100’000.- for each clients. Deposit Protection is explained in details on its website, at the web address einlagensicherung. ch/en .

Commodity xl for base metals

Commodity xl for base metalsCommodity XL - Base Metals Trading Software

Is my system sophisticated enough to handle complex trading scenarios effectively across multiple commodities, resulting in higher profits?

Do I have a system in place that not only manages complex physical movements but also financial and physical trading, credit risk and compliance?

Does my system provide real-time, enterprise-wide information and reporting for enhanced executive decision making and increased bottom line?

Commodity XL for Base Metals™ provides a fully integrated, real-time system that streamlines operations, delivers enhanced business intelligence and provides reporting to satisfy stringent corporate governance requirements"

Business Intelligence

Profitably manage physical financial trading of nonferrous alloys steel

Get feeds from LME, NYMEX, COMEX, OTC options

Use "what if" analyses for better trading

Manage position exposure in real-time

Analyze effects of Mark-to-Market and PL at summary and granular levels

Why do dealers gun for stops

Why do dealers gun for stopsWhy do dealers gun for stops?

Mark asks, why do dealers gun for stops, that doesnt seem very nice to me?. Fair point and fair question Mark which we can add to our Q and A section.

Lets look at an example of an interbank dealer who is looking at his order book and sees stop-loss orders to sell 200 million EUR/USD at rates below 1.3700 down to 1.3690. The current rate is 1.3730 say. He has some options:

1. He can do nothing. He waits until the market breaks below 1.3700 and then he starts selling. The danger with taking this course of action is that other dealers have similar order boards and the market gets fast below the level. The customers might be filled 10 pips or more below their stipulated level and they would not be happy. Plus the dealer doesnt earn anything from this.

2. He sells 20 at 1.3730. The market starts drifting lower so he sells another 20 (if the market goes up he cuts the 20 short position for a small loss). He may buy 10 back but keep himself 20 or 30 short. Lets say his average entry rate for the 30 short is at 1.3730. When the market breaks below 1.3710, he sells another 30 and then he sells 100 at 1.3700 to ensure that the market trades at a rate below 1.3700. Then he sells the balance of the orders. He will have sold 200 EUR/USD at an average rate of 1.3706 say. He will fill the stop-loss sell orders on average at 1.3696, with each customer being filled at their stipulated level. The dealer will have ensured that the customers cannot complain about slippage and at the same time hell have earned $200,000.

All dealers will follow the second course of action which in essence means that all stops are targeted.

There is sometimes a downside risk in that the dealer may sell 100 EUR/USD but the market suddenly stalls at 1.3700 due to a barrier or a big Sovereign or corporate buyer. If this happens the dealer must act very quickly to start covering his shorts before the market races higher.

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Precious metals pairs trading

Precious metals pairs tradingPrecious Metals Pairs Trading

December 16, 2013 by Richard Feit

Many investors own some precious metals in their portfolios. Often times the investment is in actual coinage or bars of silver, gold, platinum, or palladium. There are exchange traded funds(ETFs) that represent physical deposits of the commodity. GLD represents .1 ounce of gold. SLV represents one full ounce of silver. PALL is backed by .1 ounce of Palladium, and PLT is backed by .1 ounce of Platinum. The ETFs charge a management fee. As a result, the ETFs track the actual commodity, but do not represent the actual prices.

The Swingtrader philosophy is to trade only when you have an edge. Pairing up some of the commodities and either trading the pair or only trading the component of the pair that is stronger, will lower risk. With the pairs trade, you dont capture the direction of the prices. you capture the outperformance of one component over the other. With the directional trade, you only go long that component that is in the upswing direction of the pair and is in a stronger upswing than the other.

The following two examples of precious metals pairs should be helpful.

Go long the top security (green) and short the bottom(red) when the vertical line is green.

A glance at the results achieved with your eye or ruler should illustrate the profitability of the pairs trade.

The first pair is Gold(GLD) (green), Silver(SLV)red

The second pair is Platinum(PPLT)green, palladium (PALL) red.

Aspectctrm for metals

Aspectctrm for metalsMetals Trading Musts, From Pre-Trade Simulation to Risk Management

Base Metals

Base Metals Concentrates

Moisture content and tracking wet and dry quantities

Capturing and tracking multiple payable metals contained in the concentrate, allowing each metal to be valued and MTM using a separate price curve and quotational periods

Anticipated assays and real assays

Recording and tracking treatment charges and value them against their own forward curve

Complex pricing and penalties

MTM for treatment charges, refining charges, penalties and more

Hedge with LME Futures, Carries Averaging Trades

Drill down PL reports to identify changes in PL

Ferrous Metals

AspectCTRM supports Ferrous Metals trading. This includes physical (including assays penalties for iron ore, freight linked to Baltic Exchange indices), and derivative contracts including iron ore, coking coal, steel and FFA swaps options.

Precious Metals

AspectCTRM offers a complete standard system with customized functionality unique to precious metals trading to help you manage metal forwards, lease trades and exchange-traded precious futures and options, and also:

Set automatic mark-to-market (MTM) rules based on precious metal product and location

Create and manage inter-company trades

Perform precious metal forward curve bootstrapping

Manage options across ETOs, OTC European and Asian options

Metal Derivative Trading Hedging

AspectCTRM gives you the tools you need to manage price risks across your physical and derivative trading activities, ensuring your physical positions are hedged in line with your risk appetite. Continuously manage changing positions through Aspect’s robust real-time profit and loss, exposure and risk analysis functions and reports. AspectCTRM provides users with support for invoicing, broker reconciliation, VaR, stress testing and more.

Aspect offers very powerful reporting functionality. Users can easily create and customize their own reports using Aspect’s scripting language – here is an example of a customized base metal concentrate report.

Forex traders leads

Forex traders leadsForex Traders Leads

Forex Traders Leads : would our list of Forex traders includes their first and last names and telephone numbers e-mail addresses website opt in information and much more. This list was extremely expensive to come by and includes a downloadable e-mail list of Forex stock traders. Marketing to a list of Forex traders just got easier with our brand-new Forex traders e-mail list for sale. Includes thousands of records that contain vital data and information regarding recently signed up Forex currency exchange traders e-mail addresses. A current list of currency exchange traders and Forex traders are now available for immediate download in our members only area. We also have other investor lists available such as our CBS Market Watch Investor List, Our Day Trading Stock Investor List and our High Net worth Investor Lists as Well.

SAMPLE LEADS: Simply Fill Out The Form Below to Receive a Sample of This and Other Databases!

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Are you searching top performer-s advisory company for indian stock markets

Are you searching top performer-s advisory company for indian stock marketsThursday, October 22, 2015

Trading Strategies to Optimize MCX Tips: - Equity Research Lab

A proud fact for you as an Indian trader or investor is that MCX lists as one of the top and biggest five commodity exchanges all over. The Multi Commodity Exchange continues to stand tall amongst all major economies of the world.

Particularly if you are a trader in this market and use commodity tips for your trades, you got much more to know in addition to the above. One good factor here is that you got diverse commodity categories which are actually your prospects of benefiting the most from trading.

Bullion Trading and Tips: -

In bullion trading, you deal with variety of metals like gold, silver etc. Both of them are the highlight of all. Majority of world's trade today looks at these precious metals and therefore, be glad that you are trading in the most valuable assets on this planet. Additionally, your trading in this exchange also involves other metals like zinc, aluminum, nickel, lead, copper, etc. which too are some profound commodities for traders internationally. While using silver and gold tips to maximize your profitability.

Base Metals:-

Experts cannot stress enough on how important base metals are for world's economy. Interestingly, we are familiar with most of the metals for centuries and they continue to be significant as essentials for our life. To make sure you keep hazards away, note the following pointers but also use base metal tips:

Energy is the third but highly significant part of MCX. You may act upon the energy trading tips you receive but it is always valuable to keep updated. Energy commodities which are highly looked at across the globe and are also highly traded are oil, coal, gas, power or electricity, and ethanol.

For more information regarding the trading strategies of commodity market like MCX trading tips . NCDEX, Stock future tips . Stock cash tips, Equity tips etc. visit equityresearchlab or call 8109999233.