Efforts by banks to use the Internet to reach additional customers, automate back-office processes, increase system integration, and improve risk management are driving the revolution. The forex market has up to now been one of the most conservative areas of banking, with banks still trading with customers by phone or proprietary trading systems. The lack of a real-time competitive market has created inefficiency in the buy side of the business, resulting in higher costs for bank customes.

Prior to purchasing any " forex," check whether the company is registered with the CFTC (www.cftc.gov) or is a member of the National Futures Association (www.nfa.org). Other sources of helpful information include your state securities commission (www.nasaa.org), Attorney General (www.naag.org) and Better Business Bureau (www.bbb.org).

posted by Administrator at 5:39 am & filed under Currency markets |