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 inform you that Capital Market Services LLC (”CMS Forex”) will stop providing Foreign Exchange trading solutions to retail clients, effective October 15, 2010. In a bid to give the maximum caliber of support to our present clients, we have made arrangements to move the custody and clearing of your account to GAIN Capital Group, LLC (”FOREX.com”).


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

    When I had an extremely profitable trading platform created specifically on VT trader. .


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

    Today I need to move money from Gain to a new broker as I don't understand what platform they provide :| Worst day of my life...

  2. #2
    Just got the same email! Damn I deposited cash into my account on Thursday. . .and currently this. I believe in synchronicity, and am just going to withdraw everything and say goodbye to US Forex.

    Canadian broker here! (At least my cash will be insured). Questrade, Oanda (Canadian division), I don't care.

  3. #3
    Anyone know where VT trader can be obtained? This is beyond dumb.

  4. #4
    Quote Originally Posted by ;
    Anyone know where VT trader is accessible? This is stupid.
    AFAIK CMS has been the sole broker employing this (awesome) software...I will miss it.

  5. #5
    CMS shutting its doors

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

  6. #6
    No, they are not closing their door. I heard they weren't accepting retail clients. It as something to do with regulations.

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

    For a broker, providing their services to high worth clients (think of Citi and Saxo type places) and institutional customers, will allow to not to be concerned about regulations. They might want to follow the likes of CitiFx.

    Not really surprising, I here next year several brokers can reevaluate their current structure and make changes accordingly. Later on, I guess more brokers to be along the lines of Interactive Brokers or Oanda, no in betweens.

  7. #7
    What a day, Im worried. For me personally trade Currency Market without Vt Trader is similar to going to a war with a cushion as a weapon. I have an account with cms to have the ability to use vt trader just. Everything looks so simple and professional with VT trader and the remainder are just terrible jokes (believe me, I tested dozens of charting appliions).
    I want to shout.
    I simply hope it impact cms us So that way I'll open an account with cms uk or cms ru asap.

  8. #8
    This is remarkable.
    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 cover the price are all retail traders in this country (unless you've got double citizenship and an accessible address abroad).
    These senators are the very same ones who pocketed 100,000's, or even millions in lobbying money from the banking industry and Wall Street.
    We are heading directly to a two tier society.
    The haves and the have nots.
    The cubes put on the average Joe to make a little excess money, ought to be contemplated, and prosecuted as criminal.
    Welcome to the outcomes of a generation of corrupt, degenerate, and slickiest thieves in background (this includes this nation, and many other people accross the world)
    Times for large adjustments, my friends.

  9. #9
    Quote Originally Posted by ;
    This is amazing.
    The Todd - Frank bill, in sections 732 and 742, include the resources to destroy the trading landscape because we knew it.
    Those to pay the price are all retail traders in this country (unless you have dual citizenship and an available address overseas).
    All these senators are the same ones that pocketed 100,000's, if not tens of thousands in lobbying cash from the banking business and Wall Street.
    We are heading straight to a two tier society.
    The haves and the have nots.
    The cubes put on the average Joe to make some extra cash, should be considered,...
    I agree with this, they will need to be prosecuted for their functions as it looks like it is going to far. I simply hope Dukascopy does not receive the same idea and ditch all retail customers as I wire money over to these already.

  10. #10
    Quote Originally Posted by ;
    I AM REALLY F*****NG PISSED OFF.

    OCTOBER 8, 2010...
    You can utilize Ninjatrader with Forex.com/Gain

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