This exciting new feature is Forex AutoConnect. AutoConnect is brought to us by FX Solutions and is an auto trading signal providing community. Some of you may be familiar with popular sites such as ZuluTrader or Collective2; which are very similar to AutoConnect. Forex Broker Selection will be adding Collective2 to the site in the coming weeks to make this option available to clients as well.

For those of you who have not heard of a signal providing and auto trading community it works like this….

A trading system is a method of trading in which the trader follows precisely defined rules. Often, trading systems follow buy or sell instructions generated by sophisticated computer programs. Other times, trading systems are managed by human beings who follow clearly-defined mathematical rules. The point of a trading system is to remove emotion from investing.

Through this unique community traders have the ability to use another trader’s system interchangeably based on the results published to the public. The beauty behind all of this is when you set up an account through FX Solutions using the links provided on the Forex Broker Selection website, you can choose from hundreds of system; picking only the best suited for your trading style and risk tolerance. Because FX Solutions is offering this community, there is no need to continue opening new accounts which are compatible with different services. FX Solutions brings all of this together, to allow for clients to pick and choose systems at free will.

Do your research before choosing to go with an auto trading system.

FX Solutions has done a majority of the work for you in terms of due diligence before listing any trading strategy to the AutoConnect community. Each trader undergoes a routine procedure to verify trading system, the trader, and results, so that not any trader can throw up a system. However, each client should analyze each system they are considering thoroughly so that the system’s parameters match up with your risk tolerance and overall trading plan. Furthermore, we suggest running the system on a demo before considering to trade any system live. This allows every client to monitor how the system will work and to take action in the event this is necessary.

Because the AutoConnect option allows for auto trading this negates the necessity for clients to run a platform all day every day to manage and monitor trades. We have many clients who very much want to be a part of the forex trading community, but cannot find the time to fit in actively trading during their busy lives. Many of you still work a full time job and do not have the time to devote towards full time trading. This presents a viable option to take an auto trading system’s trades along side of your trades that you are able to place in your free time.

Impact of the new CFTC regulations on AutoConnect.

US based clients do have the ability to use the Forex AutoConnect services as do non-US clients. This option is available to everyone.

Forex Rebates while trading the Forex AutoConnect.

As some of you may know, many auto trading systems trade incredibly high amounts of volume. Therefore, receiving rebates on ALL of your trades while trading through the use of an automated system is pertinent. Through a unique relationship with FX Solutions and Forex Broker Selection, we are offering every client a QUARTER-PIP rebate on every trade placed. This will not raise your spread, this is completely an added bonus for all Forex Broker Selection clients. Please give us a call to discuss this alternative in greater detail.

352-535-0087

Happy Trading,

Forex Broker Selection Team

The rules which have been finalized become effective October 18, 2010. These rules amongst others include all US clients to work strictly with US regulated counterparties. For the most part, all accounts that were moved to the UK/Australia/Malta etc. in the last few years due to the passage of earlier CFTC regulations will be coming back to the States.

When accounts are back in the US, and for those whose accounts that never left the US, the most significant new regulation is the new margin requirements. Margin requirements lower leverage to 50:1 on the majors and 20:1 on other pairs. The NFA has been designated to monitor this regulation, so the exact shakeout of the regulation is still very much uncertain. However, for the most part, those US clients that were used to 200:1 or even 400:1 leverage is done and over with. Furthermore, there is still confusion on accounts maintaining outside the US with firms who are registered counterparties.

There has been and still is much speculation on the enforcement of such a regulation. We have spoken with many clients who feel this is infringement of a natural right to do what he/she pleases with their money. Again, this is still highly unclear how this will pan out. As we approach the October 18, 2010 date the regulation and enforcement will become much clearer as to how to deal with accounts. In the meantime we are suggesting that US citizens avoid the confusion moving forward and open accounts with US based firms

Also, those clients who are working with an Introducing Broker that is not registered with the NFA, will no longer be permitted to do so as a US client. Again we would like to remind you that Forex Broker selection is a NFA registered IB.

Those clients outside the US are free to open accounts with firms that are not US regulated counterparties, assuming domestic regulations do not prevent from doing so.

We have purposely left this blog vague, in the spirit of the new CFTC regulation. We wanted to make those of you who were unaware of the regulation now aware. We will address this topic in the coming weeks as we approach the October 18, 2010 effective date. Until then, please call or email with any questions.

Happy Trading,

Forex Broker Selection Team

We are honored that you have chosen to visit the Forex Broker Selection website. Forex Broker Selection is an Introducing Broker, what this means is, we have formed multiple relationships with Futures Commission Merchants (FCMs). Some of the FCMs that you may already be familiar with are Gain/Forex.com, FX Solutions, FXCM, FXDD to name a few. We operate in a middleman capacity between you and the broker. Because we represent such a high volume of clients, we are able to obtain for you offers that may not be available to the general public through the firms directly.

We feel there are many valuable tools available on the Forex Broker Selection website which will enhance your forex trading experience. The most important part is all of these resources come to you absolutely FREE. For those of you who don’t know or may be skeptical, that is just fine, in the forex industry every trader needs to be aware of the people they are working with.

To give a brief introduction to an Introducing Broker; we are paid by the brokers to find clients to trade at their firm versus another firm.  Because we value your business and the business of your fellow traders, we share a portion of what we are paid back to you, the client. This comes in the form of a pip rebate or cash bonus. To read more about how this works visit the what are rebates page. Additionally, many charting package enhancements, EA hosting, and unique platform usage is available. There is too much available to speak about in this introductory message. We encourage you to explore the website or even better call one of our agents to discuss getting the most out of your forex broker.

We will continue to update this blog, as well as the website, with the latest offers from the brokers we work with.

Again, we thank you for your visit to the Forex Broker Selection website and we look forward to working with you.

Happy Trading,

Forex Broker Selection Team