Most Forex brokers saw a decline in trading volumes in the first quarter of 2012, which is likely a reason in which brokerages worldwide have been making major changes to their structures and attempting to publicize new offerings (and, in some cases, gimmicks). On the other hand, it may be a combination of a volatile market, unsettling politics out of Europe and worldwide financial troubles that have decreased trade volume. Whether any of these personnel changes will make a difference is too early to tell, but feelings of optimism for the future are definitely in the air.

The apps range in price from free services such as the “Trade with Friends” app which allows traders to share their moves with others and the “B-Bands Range Trader,” a mobile EA which makes moves based on Bollinger Band indicators, to the “Historical Data Downloader”, a $499 app which offers a dizzying array of data for 50 of the top currency pairs.

Among the other apps offered by FXCM are:

• Linear weighted MA-Cross (Free)
• EMA Cross (Free)
• Breakout2 ($25) – An EA based on theories of when price will break out from a support or resistance level
• Hot off the Press ($99) – Sends traders alerts about their own account activity as things change
• 24-hour trend indicator ($99)

At this point these mobile Forex apps are available to FXCM traders only, and some may be used on demo accounts, though clearly they are designed to enhance live trading. Traders can also contact FXCM to customize apps that will meet their specific trading needs, which is a feature that seems to be entirely new in the world of mobile Forex apps. It is unclear how long it takes to get the requested app customized, and users are encouraged to request a free quote to see how much it will cost to have their app custom built.

Finally, it should be noted that the FXCM app store categorizes their products into 3 categories – MT4 apps, standalone apps and Trading Desk apps. Our biggest complaint about the presentation of the app store is that it did not address openly which types of mobile devices are required for app integration. Still, the breadth of offerings was undeniably impressive and we have every reason to believe that the apps will work for most smartphones.

New to the world of mobile trading? Check out the DailyForex News & Analysis Android app to see how convenient it can be to get market updates directly to your phone!

Mr. Rasoul’s new title is Executive Vice President – Chief Product Officer, which is a newly created position. In this capacity, Mr. Rasoul has been tasked with developing and executing GAIN Capital’s product strategy and managing the company’s product lines for both retail and institutional traders. In addition to having vast experience cultivated by managing the global operations of GFT Forex, Mr. Rasoul also holds Series 7 and Series 3 licenses and is a certified leveraged Forex representative by the Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA).

GAIN Capital is celebrating another victory this week, after becoming the newest brokerage to get accepted as a member to Canada’s IIROC (Investment Industry Regulatory Organization of Canada), which will allow the brokerage to serve Canadian traders. Still, despite these triumphs, GAIN Capital also announced this week that it saw lower net revenues and EBITDA in Q1 2012 as compared to 2012. Based on his high esteem in the industry and years of experience, Mr. Rasoul’s appointment, combined with the brokerage’s continued expansion should help the company’s overall reports improve in the coming quarter. Now, if only the political economy would stabilize the markets…

From our perspective, the integration of charting tools was a necessary addition, one that could not come soon enough in order to make MahiFX an even more impressive broker. The redesign of the company’s homepage however, came a surprise, as the shock value of the previous incarnation was undeniable, even if the usability was poor. To be sure, our team of expert traders and reviewers is significantly more impressed with the current design than the former version. Not only is the charting feature a central aspect of the new design, but so are the spreads offered by the broker, which are variable, but clearly competitive with other brokers.

Regulated by ASIC and founded by David and Susan Cooney, a husband and wife team with diverse experience in the financial sector, MahiFX is a Forex brokerage worth watching.

How a Grexit Would Effect Greece

One of the first things that Greece would be required to do if the country withdraws from the EU is to create a new currency with which it can pay public expenses, public sector salaries and social security obligations. The problems with this requirement are multiple, including the fact that such a currency will undoubtedly be worth a fraction of the value of the Euro, the nation’s current currency. According to the IMF, a new Greek currency could be valued at up to 20% less than the Euro’s face value.

This is, of course, to say nothing of the logistical nightmare of having to print and distribute a new currency and to create a new set of laws governing how the new money would work. By some estimates, printing new money takes around 4 months, which poses all sorts of other conundrums that analysts are petrified to consider. It also doesn’t speak of the fact that a new currency would wreak havoc on business growth and loan procurement for new businesses, which would stifle the already ravaged economy in devastating ways. Likewise, there would be a need to reissue all of the country’s mortgages and loans and to prevent Greek citizens from attempting to withdraw all of their funds in Euros before a new, devalued Greek currency is issued. Looking at these issues, it seems impossible or ridiculous to even consider a Grexit…but unfortunately, such an event may be a requirement rather than a choice if the country cannot commit to the austerity demands imposed by the other member nations.

A Shakeup for the Whole EU

A Greek exit from the EMU would also have dramatic effects on Greek’s lenders, all of whom would be holding debt that is essentially worthless. For this reason alone, many EU leaders are fighting to keep Greece in the union, despite the difficulties. Jean-Claude Juncker, the prime minister of Luxembourg and the current president of the EU’s finance ministers mentioned this week that “… nobody was mentioning an exit of Greece from the euro area. I am strongly against. We are 17 member-states being co-owners of our common currency. I don’t envisage, not even for one second, Greece leaving the euro area. This is nonsense, this is propaganda. We have to respect Greek democracy.” Still, Jose Manuel Barroso, the president of the European Commission, had a different comment, saying that “If a member of a club does not respect the rules, its better that it leaves the club—and this is true for any organization or institution or any project.”

Unless Greek President Karolos Papaoulias can build a government (which looks unlikely at this moment) before the scheduled bailout payment next month, it seems that the possibility of a Grexit remains within the scope of reality. In other words, we can expect to see continued selloffs and decreased confidence levels before we can identify the light at the end of the tunnel.

Saxo Bank joins only a handful of brokers that are legally allowed to operate in Turkey, including Integral Securities (formerly Ulukartal Forex), XTB, Gedik Securities and Finans Invest Securities (an offshoot of finansbank). The Turkish Forex industry made headlines recently when the decision was passed in August 2011 by the Turkish regulatory body CMB that Turkish brokers must be regulated, but no regulation was immediately available. Some firms were able to continue serving traders with a temporary license, but most brokers in the region were forced to halt their services and to scramble for regulation application. Since then, brokers have been slowly re-entering the market, and Saxo Bank is the latest to achieve this goal.

Thus Cambodia for example just opened their very first stock exchange, which, as of this writing is trading a single stock (the Phnom Penh Water Authority). The Ho Chi Minh Stock Exchange was opened a few years earlier in the year 2000 and already sports more than 300 companies traded on the exchange. In Laos, the Laos Security Exchange is also a recent creation with just two stocks being traded on their market.

All Trying to Attract Foreign Investment

The key thing to remember however is that all of these countries along with the other ASEAN nations (and especially Singapore, which has always attracted foreign investment) are eager to attract foreign investment and are thus ripe investment opportunities for those who wish to take their chances in exchange for potentially large rewards.

How to Invest

One of the best ways to make investments in these countries is to look into working within their stock markets. Since almost all ASEAN nations now have a stock exchange (the exceptions are Brunei and Myanmar, though a Burma stock exchange is currently being planned and there are murmurs about creating a stock exchange in Brunei as well) it’s possible to simply purchase stocks in the various countries as an investment.

Be sure to track the various companies just as you would with more traditional investments in more established countries. It may also be a good idea to hold off on investments on the newest stock exchanges until they have matured somewhat, unless you can afford to lose the money on your bets.

Forex Markets

Most of these countries have limited Forex markets available for investing opportunities, though it is possible to purchase currencies in some of these countries as well. The Lao Kip is a good currency for going short since the currency has been steadily dropping in value versus the US dollar over the past few years. The Vietnamese Dong by comparison has been steadily rising in value when compared with the dollar. The Cambodian Riel has seen the most fluctuation of all of these currencies, with the price jumping up down against the dollar. In all cases remember that as currencies of emerging markets these are likely to be much more volatile than purchasing currencies from more established states.

Bottom Line

The bottom line is that there are investment opportunities which are a off the beaten path that are worth looking into, especially if you have the stomach for slightly riskier investment opportunities and a good handle on the Forex world in general.

To further contribute to their offerings, Reuters has launched FX Buzz, a new service that provides deeper insights and analysis into the Forex market. The service will be available via Reuters’s Eikon and 3000 extra services, both of which are counted among the company’s premium business services. Prices for these services are not available on the agency’s website, though demo accounts are available to allow traders and companies to test out the service before committing.

The specific goal of FX Buzz is to use the company’s top news reporting agency to track developing news stories that will impact the currency markets and to provide concise analyses of how these developments are likely to move the markets. The agency will focus on the major G1 currencies including USD, GBP, CAD, AUD, NZD and more, as well as primary currencies in Asia, EMA and Latin America, such as SGD, INR, HUF, RUB, MXN, CLP and BRL. FX Buzz will combine both fundamental and technical analysis on these currencies and others from Reuters’s respected staff of analysts.

Learn more about FX Buzz here.

As of this writing, there are few Forex brokers that offer full social trading solutions. With the exception of eToro, a brokerage whose entire premise is built upon the concept of social trading and idea sharing, and Currensee, whose social platform can be used by brokers but cannot be branded by the broker, there are few full social Forex trading options. Sirix, however, is a new technology whose primary function will be to allow Forex brokers to integrate social trading into their existing MT4 platforms in a fully branded and integrated way. Rumblings in the Forex world indicate that Markets.com, already a top Forex broker in its own right, will be the first to offer Sirix Trader social trading to its clients. The launch date for this venture has not yet been published. Still, we expect to see Sirix Trader being offered by dozens of Forex brokers by the start of 2013, if not sooner. After all, most Forex brokers are eager to provide services that will appeal to a wider range of traders, and social trading is certainly proving to be the wave of the future – and a very helpful way for new traders to continue making money in the Forex market.

Have you engaged in social trading? Where?

Although she is only 31, Kathy Lien has become an icon in the Forex world, making regular television appearances, authoring several Forex-related books and providing regular market analysis that is read by thousands of traders daily. For this reason, many traders were shocked when Lien announced that she is leaving GFT with her colleague Boris Schlossberg to open their own asset management firm.

Schlossberg and Lien have been working together for seven years, first at FXCM and then at GFT, and have been asked regularly to manage accounts, but could never do so because of various regulations and legal restrictions. On her website, Ms. Lien describes herself as a ‘trader first, analyst second’, so it is not entirely surprising that she would choose to pursue a venture that would allow her to spend more time trading, and (perhaps) less time analyzing on the front lines.

The good news for Forex traders is that there are many reliable Forex analysts that provide regular market updates, both via specific brokerages, or through content-based websites like DailyForex which provide quality analysis with no strings attached.

Which Forex analyst do you follow regularly?