CMS ceasing operations for retail traders
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Thread: CMS ceasing operations for retail traders

  1. #1
    I AM REALLY F*****NG PISSED OFF.

    OCTOBER 8, 2010 Dear Trader,

    This letter is to notify you the Capital Market Services LLC (”CMS Forex”) will cease providing Foreign Exchange trading services to retail clients, effective October 15, 2010. In an effort to give the highest caliber of service to our existing clients, we have made arrangements to transfer the custody and clearing of your account to GAIN Capital Group, LLC (”FOREX.com”).


    I'm sick of those fcking scumbags chopping and changing all the time.

    When I had a very profitable trading system created specifically on VT trader. .


    FUUUUUUUUUUUUUU!!!!!!!!!!!!!!!

    Now I want to transfer cash from Gain to a new broker as I do not understand what platform they provide :| Worst day of my life...

  2. #2
    Quote Originally Posted by ;
    fwiw, this ECN Broker site I keep getting poor links once I need to check out the open live account stuff. I was sent by another alternative to the website of CMS and 1 connection is dead I believe. I'm perplexed at this.
    I believe this broker is dead. I was ordered few days ago and until now even simple replay was not received by me. This is not an option for us.

    Regards,

  3. #3
    Just got the email! Damn I simply deposited money into my account on Thursday. . .and now this. I believe in synchronicity, and am just going to withdraw everything and say goodbye to US Forex.

    Canadian broker here I come! (At least my money is going to be covered). Questrade, Oanda (Canadian branch), I don't care.

  4. #4
    Anyone know where VT trader can be obtained? That is beyond stupid.

  5. #5
    Quote Originally Posted by ;
    Anyone know where VT trader is accessible? This is stupid.
    AFAIK CMS has been the sole broker employing this (awesome) appliions...I will miss it.

  6. #6
    CMS closing its doors forever??

    If yes, this really is the very best news Ive ever got...

  7. #7
    No, they're not closing their door. I heard they n't accepted retail clients. It as something related to ongoing CFTC/NFA regulations.

    I believe its more of a hassle these days to deal with retail clients and current regulations.

    For a broker, providing their solutions to high value customers (consider Citi and Saxo type places) and institutional clients, will enable to not to be concerned about regulations. They could be looking to follow the likes of CitiFx.

    Not quite surprising, I next year several brokers can re-evaluate their current structure and make modifiions accordingly. Later on, I guess more brokers to be along the lines of Interactive Brokers or Oanda.

  8. #8
    What a day, Im very worried. For me trade forex without Vt Trader is like going to a war using a cushion for a weapon. I have an account with cms to have the ability to use vt trader just. Everything looks so straightforward and professional using VT trader and the remainder are only terrible jokes (believe me, I analyzed dozens of charting software).
    I want to cry.
    I just expect it affect cms us only, So that way I'll open an account using cms uk or cms ru asap.

  9. #9
    That is amazing.
    The Todd - Frank bill, in sections 732 and 742, include the resources to ruin the trading landscape as we all knew it.
    The ones to pay the price are retail traders in this state (unless you've got dual citizenship and an accessible address overseas).
    All these senators are the very same ones that pocketed 100,000's, if not millions in lobbying cash from the banking industry and Wall Street.
    We're heading directly on a two tier society.
    The haves and the have nots.
    The cubes put on the average Joe to make a little excess cash, ought to be considered, and hailed as criminal.
    Welcome to the results of a generation of corrupt, degenerate, and slickiest thieves in history (this includes this nation, and several other people accross the planet)
    Times for big adjustments, my friends.

  10. #10
    Quote Originally Posted by ;
    That is amazing.
    The Todd - Frank bill, in sections 732 and 742, include the tools to destroy the trading landscape as we all knew it.
    Those to pay the price are retail traders in this state (unless you've got double citizenship and an available address abroad).
    These senators are the same ones who pocketed 100,000's, or even millions in lobbying cash from the banking business and Wall Street.
    We're heading directly on a two tier society.
    The haves and the have nots.
    The cubes put on the average Joe to earn a little excess cash, should be contemplated,...
    I agree with that, they need to be prosecuted for their acts since it looks like it's going to far. I just hope Dukascopy does not get the thought and ditch all retail clients as I wire money over to them already.

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