Looks like FXDD is on a press release roll here. First they announced their NFA membership approval, and now they announce plans to open operations in the EU zone. What can I say, good on them! I see there is mention of higher leverage levels. Make of it what you will, here is the press release:
FXDD, a provider of online Forex trading, is pleased to announce that approval in-principle has been granted by the Malta Financial Services Authority (MFSA) to establish a Category 3 Investment Services company, FXDD Malta, Ltd. Malta is full member of the European Union and its financial services regulatory regime is fully compliant with all MiFID directives. In addition to providing dealing services to retail and professional clients, the new EU company will be eligible to transact foreign exchange, options, swaps, forward rate agreements and other derivative contracts relating to securities, currencies, interest rates, and financial indices which may be settled physically or in cash.
“We have some more work to do until we can officially commence business operations, but we are very happy with the progress so far and expect to be able to open for customers very soon,” said Lubomir Kaneti, Chief Operating Officer of FXDD. “We have found that Malta is a great jurisdiction to establish a financial company with very a competent and comprehensive regulatory environment, a favorable business climate, a highly educated and well experienced work force, and the imprimatur as a full member of the European Union. FXDD Malta, Ltd. will benefit from passport provisions and will be officially approved to conduct business internationally including all the member countries of the European Union.”
Customers of FXDD Malta will be able to use all trading platforms currently offered by FXDD including MetaTrader4, MTXtreme, FXDD Trader, FXDD Auto, and Multibank ECN hubs using cutting edge Currenex and Integral technology. Customers will be able to choose between ticket-based or position-based platforms and will have more options for higher leverage levels. As an added benefit, in accordance with European regulations, customers’ funds will be segregated from corporate funds.
Ok, time to hit the markets or maybe sleep..it’s 2:54 am here.