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FXproTec Universal Currency Converter is easy to use - Just input the desired "Amount", select a currency "From" (the currency you have) & "To" (the currency you want) drop-down menus and that's it - the Exchange Rate is shown automatically under "Result"
The FXproTec Universal Currency Converter's data is continuously Updated throughout the day - so you always have a benefit of the latest exchange rates.
The Currency Converter provides rates for All the World's major and exotic currencies that we just could think of.
The Currency Converter is accurate up to the fourth digit after the point (see FAQs for more)

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CFTC Orders MB Trading Futures Inc., a Registered Retail Foreign Exchange Dealer, to Pay $200,000 Penalty to Settle Charges of Violating Minimal Financial Requirement Rules

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against MB Trading Futures Inc. (MB Trading), a registered Retail Foreign Exchange Dealer (RFED) of El Segundo, California, for failing to comply with minimum financial requirements for registered RFEDs and Futures Commission Merchants (FCMs) that offer or engage in retail off-exchange foreign currency (forex) transactions.

MB Trading has been registered with the CFTC as an FCM since February 28, 2006 and as an RFED since September 9, 2010.
Effective October 18, 2010, the CFTC adopted comprehensive new rules to protect individual investors that buy forex contracts from, or sell forex contracts to, forex firms. Under these rules, RFEDs and FCMs that offer or engage in retail forex transactions must at all times maintain adjusted net capital of $20 million, or more in some circumstances, and hold enough assets to meet or exceed their total retail forex obligations to customers. The new rules impose several restrictions on the types of funds that firms can include in their adjusted net capital and asset computations.

According to the CFTC Order, for more than 16 months after adoption of the new rules, between October 18, 2010 and March 1, 2012, MB Trading improperly included certain funds held in four accounts in its adjusted net capital computations. After excluding those funds as required, the Order finds that MB Trading failed to meet its adjusted net capital requirements for 456 calendar days between October 18, 2010 and March 1, 2012.

During the same period, MB Trading also improperly included certain funds held in two of the same accounts, along with funds held in a third account, in its asset computations, according to the Order. After excluding those funds as required, the Order finds that MB Trading failed to hold enough assets to meet or exceed its total retail forex obligation to customers for 501 calendar days between October 18, 2010 and March 1, 2012.
Had these funds properly qualified under the regulations, MB Trading would have complied with its adjusted net capital and asset requirements, according to the Order.

The CFTC Order imposes a $200,000 civil monetary penalty and a cease and desist order on MB Trading for these violations. The Order notes that in settling this matter, the CFTC took into account MB Trading’s cooperation and the corrective action it undertook after its deficiencies were discovered.


MB Trading – mbtrading.com reviews and ratings:

Total Ratings: 386
 

Average Rating: 1.8 out of 5.0 stars
 

Rated #9 out of the 14 U.S. Forex Dealers – Brokers
 

Last Review: July 15, 2012

 


The intelligent choice of a broker/dealer is extremely important. Everybody should evaluate independently the broker’s credentials and performance.

 

MB Trading Reviews and Ratings
 


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