Foreign Exchange Broker: March 2009

Friday, March 20, 2009

Finding The Right Forex Trading Broker | SigmaForex

A Forex broker may also act as a dealer who will provide online trading services to allow the individuals/firms to speculate on the rapidly changing foreign exchange rates. Normally as any other trading it is best to use professional Forex brokers. They will help you understand the market better. They guide the individuals and firms to start trading on there own. Recently Many U.S and other international companies may provide with software's and other materials for users to speculate the changes in the foreign exchange rates. Normally there are trading rules to be followed. Trading rules are put up by the Forex Brokers.

We can classify the membership levels into three types: As the first level we have the Administrative Level who are the Forex Dealers i.e. the brokerage accountants, next we have the Trading Level who are the Forex Traders i.e. the real accounts, on the last level we have the Study Level who are the Students i.e. the demo accounts who are the beginners, they maybe people who are new to the market.

The Forex dealers are the Market Makers of a particular system dependent on the country, who have their own set of calculated accounts. These are the accounts which will allow them to open individual trading accounts for their clients. These accounts will help their clients to access the dealing rooms that is rooms where they can start there trading. Care should be taken to ensure that a proper broker is chosen. A broker should have proper software that will indicate the amount of profit that is made while trading currencies. A broker should also provide excellent customer service so as to enable the client to have an overall good experience with the trading.

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A Free practice account is a great way to experience the Forex market without risking any money.

For Novice Traders

For those who did not trade in the forex market before can get accustomed to following a market, and open themselves to a whole new way to invest, and it also gives them the chance to understand how the trading platform works.

For Regular Traders

For those who are familliar with trading in forex market, a practice account can help them to get use to the particular characteristics of the Forex market or our trading platform.

For Experienced and Professional Traders

A practice account can even help experienced and professional traders as they can test and practice their trading strategies without risking capital.

Generally the Demo Account has the same capabilities of the real account, the only difference between them is that the real account is with real money and the practice account is with virtual money.

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Sigma Account allow you to open Micro, Mini and Standard lot through only one account and trade in Forex Market

In order to register for a practice account, please Download Sigma Forex Platform and open new account as illustrated below and you will have unlimited access to our Platform for the next 30-days.

Wednesday, March 11, 2009

US govt officials to visit Detroit automakers

The US government's "working group" on the automobile industry was expected in Detroit Monday for talks with representatives of troubled US automakers seeking government help and their unions, an administration official said.
The official, who spoke on condition of anonymity, said the groups would meet with top managers of General Motors and Chrysler as well as with leaders of the United Auto Workers (UAW) union as they try to chart a way to restructure the two companies to avoid bankruptcy.
The announcement came after GM's auditors last week voiced "substantial doubt" about the struggling automaker's ability to survive a collapse of global auto sales amid a deepening recession.
GM chief executive Rick Wagoner has repeatedly warned that the largest US automaker would likely be unable to survive a bankruptcy filing because consumers would be unwilling to buy GM's vehicles.

GM is funding its operations with 13.4 billion dollars in emergency loans from the US government and said last month it will need an additional 22.6 billion in government aid if it is to survive.
But on Friday, it denied reports that it was considering a prepackaged reorganization financed by the government under the "Chapter 11" provisions of the US bankruptcy code as a solution to its financial woes.
However, two top Republican senators on Sunday called for struggling General Motors to seek bankruptcy rather than fresh government aid as the best path to long-term recovery.
"I think the best thing that could probably happen to General Motors, in my view, is they go into Chapter 11," John McCain, President Barack Obama's vanquished foe in last year's election, told "Fox News Sunday."
"They reorganize, they renegotiate their union-management contracts and come out of it a stronger, better, leaner and more competitive automotive industry," he said.
Richard Shelby, the top Republican on the Senate's banking committee, said the government should stop propping up the US auto industry as well as giant banks such as Citigroup.
"Subsidization of anything for very long never works," he said on ABC's "This Week."

"The automobile business, those companies, Chrysler, Ford, and General Motors, they're in deep trouble. We know that. I've suggested they go into Chapter 11. That's where they belong.
"And they could reorganize. We could get money in place for them. We could do it if they did it and did it right. Short of that, the UAW will run those companies and run them into the ground."
Meanwhile, the Canadian Auto Workers announced a tentative deal with GM on Sunday to freeze wages and pensions, and cut paid vacations, as part of GM's North America restructuring.
In the United States, the United Auto Workers last month reached an outline deal to allow Ford to restructure its 13.2 billion dollar obligation to a trust fund for retirees' health care benefits.
A similar agreement is expected shortly at GM and Chrysler because the UAW union maintains similar contracts at each of the Detroit Three.
One influential Republican, House of Representatives minority leader John Boehner, said bankruptcy was not an option for GM.
"I don't think they could survive bankruptcy. Hopefully, they'll be able to come to an agreement with all of their stakeholders before they get to that point," he said on CBS program "Face the Nation."
But Boehner added: "I don't think the government should put any more money there until General Motors shows that they can be a viable company for the long term ... Anything short of that is just throwing good money after bad."

[Sigma Forex Practice Accounts]

Learn And Develop your trading skills with Sigma platform!

A Free practice account is a great way to experience the Forex market without risking any money.

For Novice Traders
For those who did not trade in the forex market before can get accustomed to following a market, and open themselves to a whole new way to invest, and it also gives them the chance to understand how the trading platform works.

For Regular Traders
For those who are familliar with trading in forex market, a practice account can help them to get use to the particular characteristics of the Forex market or our trading platform.

For Experienced and Professional Traders
A practice account can even help experienced and professional traders as they can test and practice their trading strategies without risking capital.
Generally the Demo Account has the same capabilities of the real account, the only difference between them is that the real account is with real money and the practice account is with virtual money.

Open Now A Free $ 500'000 Account With Sigma Forex and discover a whole new way to invest.
Sigma Account allow you to open Micro, Mini and Standard lot through only one account and trade in Forex Market
In order to register for a practice account, please Download Sigma Forex Platform and open new account as illustrated below and you will have unlimited access to our Platform for the next 30-days.

If you have any problem regarding Sigma Practice Account you can see User Guides or click on the Live Chat button on the right menu and our customer support staff will help you through the process.

Clinton's gaffes and gains on tour

Hillary Clinton is back in Washington after another whirlwind, five-country foreign trip that provided a further glimpse into her style as Secretary of State and details of the Obama administration's foreign policy.
In what seemed to be an all-out diplomatic assault, the leitmotiv was outreach - to foes and allies, past and present.

Mrs Clinton invited Iran to attend the Afghanistan conference at the end of the month and sent two envoys to Syria to explore the possibility of a dialogue with Damascus, which has had strained relations with Washington since 2003.
She started thawing icy ties with Russia and its Foreign Minister, Sergei Lavrov, who had a testy relationship with her predecessor, Condoleezza Rice.
After meeting Mrs Clinton, Mr Lavrov said: "I venture to say we have a wonderful personal relationship."

Nato allies and European parliamentarians were enthused by Mrs Clinton's declaration that the US wanted to re-energise transatlantic ties.
The president of the European Parliament, Hans-Gert Poettering, then told her there was a lot of goodwill towards the US.
Meanwhile, in Ankara, she praised Turkey's role in the region, holding it up as an example of a secular Muslim democracy in an attempt to buttress ties strained by the war in Iraq as well as Turkey's own internal politics.

[SigmaForex Partnership Services]

Overall View:

Sigma helps a various groups of partners around the world to enlarge their business and expand the full
potential of the Forex market.
Sigma’s services include:

Introducing Brokers: Join our IB network and receive compensation for directing new clients to Sigma.
Money Managers: Full service trading capabilities, plus dedicated account management, client fund
administration and reporting.
White Labels: White Label Program helps fitted firms set up an online presence in the Forex industry
quickly and cost effectively.

A dedicated Partner Services team supports Sigma partners with a full range of account management services.
- Daily P&L, credits, commission allocation, etc.
- Account funding, transfers, allocations, etc.
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Money Manager.
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UAE bank governor urges stimulus

The governor of the central bank of the United Arab Emirates has urged the government to embark on a fiscal stimulus plan beyond support already extended to the banking system, according to a statement released on Monday.

The call comes as a gap between the assets and deposits of UAE banks has failed to close despite central bank intervention. The gap opened up when billions of dollars of hot money was withdrawn from the system last year after an anticipated revaluation failed to materialize.
Sultan bin Nasser Al Suwaidi told the Dubai Economic Council on Sunday that the federal government needed to stoke the economy to attract more deposits, according to a Monday statement.

“The present situation requires a stimulus package to the banks and economy in order to improve the reputation of local banks outside the UAE, and hence it would encourage more foreign (investors) to deposit money into local banks,” Mr Suwaidi was quoted as saying.
Mr Suwaidi is a federal employee based in wealthy Abu Dhabi, the capital of the UAE, and his statement also seems designed to reassure those concerned about the extent of support for Dubai, the most exposed of the seven emirates which make up the federation.
To date, the UAE government has promised to guarantee deposits in local and foreign banks and has made up to Dh120bn ($32.7bn) available to banks in all seven emirates. It has also agreed to rescue Dubai’s two mortgage companies, Amlak and Tamweel and subscribed $10bn of a $20bn Dubai bond announced last month.

[Sigma Contract Specification]

Sigma Forex provide the clients with the lowest spreads in Forex Market for the most traded pairs and Forex spots.

Trading Hours
Sigma Dealing Room operate 24/5 from Sunday 23:00 CET until Friday 23.00 CET.
You Can contact us directly: + 41 435 004 145

Margin Requirements
The margin requirements must be respected by Friday at 23:00 GMT and before holidays.
One of our dealers will contact you if you are below your margin requirements at that time. Your margin requirements will depend on the client's account equity. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed. Stop positions will be executed when there is only around 50% equity of the required margin left in your account.

Streamline Dealing
Clients will not suffer Price Re-Quote that you can buy and sell directly on real-time prices without a request for quote (RFQ).
Clients taking advantage of wrong price quotes in the Market Watch will be requoted.
Sigma Forex effort is taken to ensure correct pricing at all times. However, there are rare circumstances when wrong prices are given.

Stop Order Execution
Volatile market conditions can result in prices gapping, which may prevent the execution of stop orders (sell stop, buy stop, stop loss) at the price you initially requested. However, our dealers strive to execute all stop orders at the price, or failing that, at the best attainable rate the market allows.

Lot Types
Sigma Forex has generated an ultimate account type that allow you to trade Standard, Mini and Micro lot in the same account which is Sigma Account to make it more simple and easy for traders.

Multi Currency Denomination

Sigma offers the ability to set-up accounts denominated in the following currencies:

• United States dollar (USD)
• Euro (EUR)
• Great Britain pound (GBP)
• Australian dollar (AUD)
• Swiss Frank (CHF)

There is no minimum deposit for opening an account, in order to review the spreads, pip value & margin requirement choose the required pair, leverage & the lot type.

If you have any problem regarding Sigma Contract Specification click on the Live Chat button on the right hand side and our customer support staff will help you through the process.

Indonesia Stock Exchange live with Nasdaq OMX trading system

The Nasdaq OMX Group (Nasdaq:NDAQ) has reached a milestone together with its long standing customer Indonesia Stock Exchange (IDX) following last week's successful launch of a new trading system provided by Nasdaq OMX Market Technology.
The new platform named "JATS-NextG" has modernized IDX's trading operations. It will replace the two trading systems previously used at Jakarta and Surabaya Stock Exchanges, which in 2007 merged to form IDX. With JATS-NextG, IDX will be able to trade all its financial products, including equities, derivatives, mutual funds and bonds, on one single platform. The system also enables significantly increased trading volume and has greater flexibility to accommodate the fast growing and dynamic Indonesian market.

"The aim of the new system was to meet the future needs of the Indonesia capital market and to maintain proper, efficient and orderly trading. To meet with future demands, the JATS-NextG is designed to handle up to 1,000,000 orders and 500,000 transactions per day, a much bigger capacity compared to the previous system that could handle 360,000 orders and 200,000 transactions per day. The new system also facilitates the trading of all financial products in one platform and enables an integrated distribution of trading information and surveillance on all products traded in the Exchange," said Mr. Erry Firmansyah, President Director of IDX.
"We are proud to list IDX among our customers and we look forward to support them in their future growth," said Lars Ottersgard, Senior Vice President & Head of Market Technology at NASDAQ OMX. "We believe in the growth potential of the Indonesian capital markets. The recent successful launch further strengthens IDX's ability to support the development of the Indonesian market and to increase liquidity for its members and institutions. In addition, this launch strengthens NASDAQ OMX's presence in the Asia Pacific region, where our technology today powers 12 exchanges."

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Maintaining the security of your money is a major objective at Sigma.
Our devotion to our clients has made our firm a respected industry leader, that we have a strong commitment to maintain a long term relationship with our clients.
Low margin requirement.
Full Hedging capabilities.
Sigma is a registered financial institution, and registered with the European registration authorities. The regulations set out into notice by these agencies are created to help ensure the safety of our clients’ deposits.
We maintain enough liquid capital to meet the needs of the amount required to cover all client deposits, potential shift back and forth in the firm’s currency positions and outstanding expenses.
We put forward our financial information to regulatory bodies on a weekly and monthly basis.
In addition to all the above, Sigma holds all deposits with only highly reputable financial institutions. We are appreciate the trust of our clients place in us.

Tuesday, March 10, 2009

Illegal Detentions and Guantanamo

Since 2001, the government has illegally detained thousands of people, the most recognized example being the men at Guantánamo. CCR has fought for the right to due process, filing countless cases on behalf of detainees and others swept up in the so-called War on Terror. CCR has challenged immigration sweeps, ghost detentions, extraordinary rendition and every other illegal program the government has devised to lock people up and throw away the key. CCR believes we all become less safe and less free when we trample the rights of others.

The Center for Constitutional Rights brought the first Guantánamo case to court more than five years ago. On December 5, 2007, CCR again represented Guantánamo detainees before the Supreme Court to demand their right to know why they are being held.

[Sigma Services]

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Is US looking to retool detention policy?

WASHINGTON – More than four years after launching its wide-ranging war on terror, the US is still struggling with the issue of how to handle the conflict's prisoners.
Detaining captives without trial, as the US is doing at Guantánamo Bay, Cuba, results in continuing, bitter, international criticism. Yet trying them is fraught with difficulty, as lengthy proceedings against admitted Al Qaeda member Zacarias Moussaoui have shown.
The administration's defenders say that dealing with an amorphous foe demands an ill-defined detention policy, and that there aren't any serious alternatives. Critics say that may not be the case - and that the issue is blackening the nation's name overseas.

"In a general way, the world just sees the US as this powerful entity intent on stepping on other people's rights for the sake of its own security," says Thomas Carothers, director of the democracy and rule of law project at the Carnegie Endowment for International Peace.
Last weekend, reports in the British press indicated that US officials have asked the British government for advice concerning methods of closing the Guantánamo camp and repatriating its detainees.
London has launched controversial attempts to return terror suspects to home countries in North Africa and the Middle East. Lebanon, Jordan, and Libya have signed pacts promising that they will not abuse these returnees.
Publicly, US officials say that there are no immediate plans to close the Guantánamo installation, but that the US obviously will continue to weigh what to do with its approximately 500 inmates, for the long term.
"Hopefully, over the years, we will find a way to either release them to their country of origin or they will declare that they no longer want to kill us," Deputy Assistant Secretary of State Colleen Graffy said in a broadcast interview on Sunday.
In recent months the Guantánamo prison has attracted an increasing amount of international attention - unwelcome attention, in the White House's view.

Release of voluminous data about the detainees to the Associated Press, per a Freedom of Information Act request, has made some Guantánamo detainees seem like hapless victims - though others indeed have come across as committed terrorists. And a UN Commission on Human Rights report issued last month alleged that torture occurs at Guantánamo, and said that the camp should be closed without delay.
However, UN officials involved in this report never actually visited Guantánamo, notes Nile Gardiner, a security policy fellow at the Heritage Foundation.
Guantánamo's long-term future should be decided by US security needs, says Gardiner.
"At present there are no serious alternatives being proposed," he says. "It remains the best option in a highly complex global war."
Meanwhile, the sentencing trial of Mr. Zacarias Moussaoui, the only man charged in the US in connection with the Sept. 11 attacks, remained on hold as of publication time.
US District Judge Leonie M. Brinkema halted the trial on Monday, and threatened to remove the death penalty as a possible sentence, following the disclosure that a government lawyer had improperly shared testimony with witnesses.
Moussaoui has admitted being a member of Al Qaeda, and being a part of a conspiracy aimed at flying airplanes into US buildings. But he has said his role was to be in a follow-on attack, and that he had no part in Sept. 11.
His legal proceedings have dragged on for years, in part due to his own behavior. Analysts said the latest glitch seemed an inexcusable error on the part of the government lawyer, veteran Federal Aviation Administration attorney Carla Martin.

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US drops charges against USS Cole bomber

A Pentagon judge withdrew charges on Friday against a Yemeni detainee at the Guantanamo Bay detention camp accused of taking part in the deadly October 2000 attack on the USS Cole in Yemen.
Retired Judge Susan Crawford, the convening authority of military commissions, "has withdrawn the charges" against Abd al-Rahim al-Nashiri, Pentagon spokesman Geoff Morrell said.

However Crawford "has withdrawn the charges without prejudice, meaning he can be charged again," said Jeffrey Gordon, another Pentagon spokesman.
Crawford's procedural move brings the case against Nashiri to a halt, at least temporarily, and falls in line with President Barack Obama's executive order shortly after taking office calling for a 120-day delay in proceedings against terror suspects at Guantanamo.

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Holder 'impressed' with Gitmo, but still committed to closure

WASHINGTON (CNN) -- Attorney General Eric Holder, just back from his first trip to Guantanamo Bay, Cuba, said Wednesday he is still determined to carry out President Barack Obama's order to close the prison, but admitted he was "impressed by the people," and said "the facilities are good ones."
Holder's positive assessment of "professionalism" at the prison was in distinct contrast to claims by many critics who charge Guantanamo Bay stands as a world-wide symbol of the alleged U.S. mistreatment of enemy combatants.

"I did not witness any mistreatment of prisoners. I think to the contrary I saw a conscious attempt by those guards to conduct themselves in an appropriate way," Holder told reporters.
Holder has been named by Obama to oversee the process that will decide what to do with the 245 detainees held at the prison.

Obama's executive order allows only one year for the prison to be closed.
"This will not be an easy process," Holder said. "It's one we will do in a way that ensures that people are treated fairly and that the American people are kept safe."
Holder predicted it will take most of the coming year for his staff of lawyers and experts to comb the files of the detainees and then decide whether they should be released, sent to other countries, placed in military courts, or moved to civilian criminal courts in the United States.
The attorney general spoke of his visit as members of Congress expressed a range of views on what to do with the detainees, and whether the president should re-consider his order closing Guantanamo Bay.

[Sigma Contract Specification]

Sigma Forex provide the clients with the lowest spreads in Forex Market for the most traded pairs and Forex spots.

Guantanamo chief cleared over prisoner abuse

A US military investigation has decided that no rules were broken when a detainee at the Guantanamo Bay prison camp was dressed up in women's underwear, tied on a lead and forced to perform "dog tricks".

The inquiry found that a pair of thong underpants was placed over the prisoner's head, he was subjected to unnecessary strip searches and made to dance with a male guard. He was told that he was a homosexual and his mother and sisters were prostitutes. In addition, he was kept in solitary confinement for 160 days and was interrogated for up to 20 hours a day.
However, while "abusive and degrading", the humiliation of Mohamed al-Qahtani, a Saudi national dubbed the "20th hijacker" in the September 11 attack, did not amount to torture, according to the report put before a committee of the Senate which cleared the camp's commanding officer of any failure in his duty.
Mr al-Qahtani is one of a series of prisoners at the controversial camp in Cuba whose treatment was reviewed by a panel investigating concerns passed to the Pentagon by FBI agents about the treatment of inmates.
Investigators found three cases where 'mid-ranking' interrogators had exceeded their authority according to an abbreviated, unclassified version of the report which has been made public today.
These included a Navy lieutenant commander who threatened to have a detainee’s family killed, the treatment of two prisoners who were shackled to the floor in a foetal position and reports that duct tape was used to bind the mouth of a detainee chanting verses of the Koran.
But in many cases, the investigating panel found that the tactics had been authorised and, although questionable, did not qualify as torture.

These included complaints that a female guard rubbed herself against a prisoner's back and another detainee was smeared with a substance which he was told was menstrual blood.
In a conclusion which supports previous statements from the White House, but which has inflamed the anger of human rights campaigners, the panel led by Lieutenant General Randall Schmidt found that there had been no cases of inhumane treatment or torture.
Mr Schmidt, presenting the report, explained: "Mr al-Qahtani admitted to being the 20th hijacker and he expected to fly on United Airlines flight 93 [which crashed in Pennsylvania]. He proved to have intimate knowledge of future plans.
"As the bottom line, though, we found no torture. Detention and interrogation operations were safe, secure and humane," he told the Senate Armed Services Committee.
The military investigators' report recommended punishment for the commanding officer of the Guantanamo Bay jail at the time, Army Major General Geoffrey Miller, but that suggestion was overturned by General Bantz Craddock, head of the U.S. Southern Command. Major General Miller was later put in charge of Abu Ghraib prison in Iraq, after the widely-reported abuse incidents there.

"My reason for disapproving that recommendation is that the interrogation of [Qahtani] did not result in any violation of a U.S. law or policy," General Craddock testified.
"And the degree of supervision provided by Major General Miller does not warrant admonishment under the circumstances."
The Geneva Conventions prohibit sexually degrading tactics but the Bush administration has said the Geneva Conventions do not apply to the Guantanamo detainees, saying that they are suspected terrorists rather than prisoners of war.
Republican senator John McCain, who was taken prisoner and abused during the Vietnam war, responded: "They may be al-Qaeda, they may be Taliban, they may be the worst people in the world, and I'm sure some of them are. But there are certain rules and international agreements the United States has agreed to, and that we will observe.