Online Stock Trading

Forex Capital Markets to purchase Refco

FXCM Agrees to Purchase Assets From Refco
Friday November 11, 12:32 pm ET

NEW YORK, Nov. 11 /PRNewswire/ -- Forex Capital Markets LLC (FXCM) has signed a Memorandum of Understanding with units of Refco, Inc., with an agreement to do the following:
    FXCM or an affiliate has agreed to purchase the retail client accounts of
    Refco FX Associates LLC (RefcoFX.com), which are traded on the FX Trading
    Station platform.

    FXCM has also agreed to buy the 35% share of Forex Capital Markets LLC
    currently owned by Refco Group Ltd LLC.

The announcement was made today by Drew Niv, CEO of Forex Capital Markets, the foreign exchange brokerage firm. FXCM is a Futures Commission Merchant registered with the CFTC and is a member of the National Futures Association.

"Both purchases are subject to the approval of the U.S Bankruptcy Court, which is currently overseeing Refco's chapter 11 cases," said Niv.

Forex Market Trading Tips

Have realistic goals. The Forex market is one of the most exciting places to trade, and there exists the opportunity to make large profits in short amounts of time. However, there also exists the potential for loss. Being a good trader comes with practice and experience, and very often you must be patient. It is important to understand the risks associated with trading currencies and not to let unrealistic goals cloud your judgment when considering your entry end exit points in a Forex trade.

All FOREX traders should have at least a basic understanding of fundamental and technical analysis. Fundamental Analysis involves the use of economic, financial and political news to determine trading decisions. Technical Analysis involves the study of charts to predict future price movements based on past price patterns and trends.

What Tools & Knowledge Do Futures Trading Need?

Futures, options, forex, stock and derivative traders who use technical analysis or fundamental information on the markets for increased returns and profits in trading. Futures, options, forex, stock and derivative traders are educated on using technical analysis tools such as moving averages, stochastics, trendlines, price data, Elliott wave, and other technical studies. Futures, options, forex, stock and derivative traders also are provided fundamental recaps of financial and commodities markets, which includes expert analysis, supply/demand data and expert and government forecasts. Markets includes stock indexes, interest rates, foreign exchange and commodities such as energies, metals, grains, livestock and softs.