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ForexNation.Org gives brokerage profits to charity
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Author:  erickva [ Sun Jun 30, 2013 12:10 pm ]
Post subject:  ForexNation.Org gives brokerage profits to charity
We’d like to introduce ourselves, we are Forex Nation - the world's 1st not-for-profit provider of forex - where doing what you love helps build a better future for all: http://www.ForexNation.Org
In a nutshell:

• Because we are a not-for-profit organisation we're not motivated by typical industry goals. This lets us offer the most competitive brokerage rates - without the need for gimmicks or special offers - just genuinely low spreads and commissions.

• Forex Nation offers four types of trading account, with each product designed to meet specific trading needs:

Standard - small spread brokerage, no commission, one-click trading, 29 currencies + metals + index cfds
Pro - institutional grade spreads - average 0.3 on majors and an industry leading commission of $3.50 per $100k traded ($7 round trip), up to 400:1 leverage.
MAM - also trading for others? Our multi account management software gives you the professional money management edge.
Institutional - aggregated liquidity, total anonymity between counterparties, for brokers, banks & money managers only.

• MetaTrader4 trading platform with one-click mobile trading applications for your smart phone or tablet. No trade restrictions: EAs, scalping & hedging all allowed.

• Open an account with as little as $200. Available to residents of almost every country. If you're starting out or testing a new trading strategy, try our free demo trading platform with simulated $5,000 practice balance. Click here to open a live or demo account online, fast.

• We operate a 24 hour customer service and trade desk for your assistance. Technical support closes at 10pm AEDT. Phone +61 2 8037 7384 (or if your enquiry isn't urgent you can achieve great things via our email system here).

When you invest in your own future by trading with Forex Nation, you're investing in the idea of a better future for all. So our clients enjoy the extra satisfaction of seeing brokerage dollars put to work funding education programmes, amenities and other charitable projects that benefit people and communities in need.

Thanks for taking a moment. Happy trading!
Author:  dan68 [ Sun Jun 30, 2013 1:26 pm ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
Hi Steve and traders. My apologies for lurking so long without posting. However I'd like to add my voice to the move for transparency in this industry. We at Forex Nation know and love the Global Prime FX boys and look forward to working with Jeremy and the team whenever possible to promote industry transparency, corporate authenticity and social conscience. Not a moment too soon, times they are a changin'
Dan Lehrer
ForexNation.Org
Author:  SteveHopwood [ Sun Jun 30, 2013 6:34 pm ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
I wish you guys the best of luck. I will be featuring you in my weekly round up later tonight.

Brace yourselves for some hostile questioning - our members are not famous for taking prisoners. :lol:

Prove yourselves to be genuine and you have the support of this forum. Do otherwise and I will ban your butts out of Dodge so fast your head will spin - and I tend to pull the trigger first and not bother to ask questions afterwards.

Times they are indeed a changin', and I hope you guys are a genuine part of the change.

:D
Author:  AltosT [ Sun Jun 30, 2013 10:42 pm ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
Hi Eric and Dan - I note ForexNation is owned by AxiCorp. (Australia) I have no gripe with Axi Trader but find it a bit of a stretch to see that a commercial broker owns a "profit to charity" broker.

Why bother to duplicate services when they could just support a charity directly without an increase in overheads ?

Just askin'.
AltosT
Author:  McNish [ Sun Jun 30, 2013 11:08 pm ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
Good query Altos, i was going through the same thing in my mind but u got there first.

I did not understand the 3x swap system mentioned on the website. Could u elaborate please !

Also i don't see NzdCad & NzdChf pairs. i believe they come under the standard 28 pairs set. There are others though instead to make up for 29 pairs (AudSgd, usdsgd & usdzar)

Nice initiative there from u guys at FN.O, :)

Cheers, Max.
Author:  eatradingonly [ Mon Jul 01, 2013 3:09 am ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
McNish wrote:Good query Altos, i was going through the same thing in my mind but u got there first.

I did not understand the 3x swap system mentioned on the website. Could u elaborate please !

Also i don't see NzdCad & NzdChf pairs. i believe they come under the standard 28 pairs set. There are others though instead to make up for 29 pairs (AudSgd, usdsgd & usdzar)

Nice initiative there from u guys at FN.O, :)

Cheers, Max.
From the website FAQ -

For positions that are open on Wednesday and held overnight, the amount added or subtracted to an account as a result of rolling over a position (swap) is three times the usual amount. Charging ‘triple swap’ for Wednesday roll-over accounts for the settlement of trades through the weekend, as swap rates are not charged during this period due to the market being closed.

This is normal in the forex industry and across all brokers.

On another note, good work on choosing Axi as your white label provider. They are one of the best around.
Author:  dan68 [ Mon Jul 01, 2013 3:26 am ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
AltosT wrote:Hi Eric and Dan - I note ForexNation is owned by AxiCorp. (Australia) I have no gripe with Axi Trader but find it a bit of a stretch to see that a commercial broker owns a "profit to charity" broker.

Why bother to duplicate services when they could just support a charity directly without an increase in overheads ?

Just askin'.
AltosT
Hi AltosT. Thanks for yr question. Forex Nation Pty Ltd (“FXN”) is a private company registered in Australia and owned by Erick and I, not AxiCorp. The FXN entity is in the process of being granted registered charity status by the Australian Charities & Not-For-Profit Commission and AxiCorp is the service provider of our commercial function (FXN has addtional functions).

So commercially we are a white label, currently using AxiCorp as our sole fx liquidity and asic-regulated client accounts provider. As part of the white label arrangement we have granted AxiCorp permission to register Forex Nation Empty4 to enable branding of our Empty4 platform and service provision.

Axi corp also generously contributes to our charitable bottom line by donating some services that FXN would otherwise bare ourselves. This means middle man costs are cut out, allowing us to provide both a good deal to our fellow traders AND generate an income to fund our charitable projects.

By running our own commercial operation as a white label, FXN has no need for government handouts or telemarketing you at dinner time for donations ;) We’re a commercially self-sufficient NFP (soon to be registered charity). And because we have no personal claim on our profits our goal is that everybody benefits – our team, our clients, suppliers and charitable beneficiaries. There's simply enough for everyone and we think sharing makes life interesting.

Actually the nature of our charitable projects is really exciting - including putting together teams of traders to teach and mentor women in emerging economies as part of our educational programs - but I'm going off piste now, so those details on request or another time...

At risk of making this answer stupidly long I should add that while Erick and I own the company this does not give us any commercial benefits as not-for-profit entities may not make distributions (of profits or any other benefits) to owners or directors AND should we wind up, any profits must be transferred to another registered charity or NFP organisation. We have provided links in our website to the relevant information on this issue, including to our company constitution which sets out the rules for NFP.
Author:  dan68 [ Mon Jul 01, 2013 3:41 am ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
eatradingonly wrote: From the website FAQ -

For positions that are open on Wednesday and held overnight, the amount added or subtracted to an account as a result of rolling over a position (swap) is three times the usual amount. Charging ‘triple swap’ for Wednesday roll-over accounts for the settlement of trades through the weekend, as swap rates are not charged during this period due to the market being closed.

This is normal in the forex industry and across all brokers.

On another note, good work on choosing Axi as your white label provider. They are one of the best around.
Thank you for the ups eatradingonly and for answering McNish's question - triple swap wednesday is industry standard.
Author:  McNish [ Mon Jul 01, 2013 3:42 am ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
eatradingonly wrote:This is normal in the forex industry and across all brokers.
Will have to cross check on this first and get back to you.
eatradingonly wrote:On another note, good work on choosing Axi as your white label provider. They are one of the best around.
I never said anywhere in my post that i have chosen Axi for anything at all, neither white nor black. Why make that assumption?
Coincidentally, there is a recent post in one of the threads that says the exact opposite. Here, http://www.stevehopwoodforex.com/phpBB3 ... 882#p67882

Max.
Author:  dan68 [ Mon Jul 01, 2013 3:54 am ]
Post subject:  Re: ForexNation.Org gives brokerage profits to charity
McNish thanks also for your ups on the FXN initiative. (think eatradingonly's reference to white label was meant for FXN).
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