Forex - MoneyShow.com

SPONSORED STATEMENT
RETAIL e-FX CLIENT
FXCBS
Placing the needs
of clients first
FOREX Central Brokerage Services (FXCBS)
is a leading financial brokerage firm.
The company has been focusing on the
development of next generation solutions
for forex trading. e-Forex talks with Mr.
Mohammad Musleh, CEO, of Fienex Group
Ltd. about how the company is deploying
technology and achieving its vision of
providing the best forex products and
services for its clients.
Fienex DMCC, a 100% subsidiary of Fienex Group is
currently regulated in Dubai. How stringent are the
regulatory requirements for online brokers in
Dubai?
Brokerage services fall under the broad category of
“Financial Services”. UAE central bank through
Securities and Commodities Authority of UAE
(SCA) regulates the brokerage services within the
boundaries of UAE. ESCA, a member of the
International Organization of Securities
Commissions (IOSCO) ensures that members
maintain strict adherence to SCA approved DGCX
By-Laws. Furthermore, brokers are required to
conduct their business with clients in accordance
with the international 'best' code of practice and
standards observed on other major exchanges around
the world.
FXCBS has chosen to become MIFID compliant.
What implications does this have for you
operationally?
154 | january 2010 e-FOREX
We are gladly willing to comply with MIFID
regulations as we believe that they ensure the best
code of practice for Forex Brokers. This step goes
hand in hand with our efforts to raise the sense of
security for our clients and to apply the highest
standards of operations. Becoming a MIFID
compliant broker will open the doors wider to a
global presence for FXCBS.
In what ways does the culture you have created
within FXCBS benefit your clients and help you
cultivate your business?
Our business model was meant to eliminate any
conflict of interest and to reach the perfect win/win
situation for our clients as traders and for us as a
broker. Our clients are always encouraged to apply
any trading style of their preference with no
restrictions. We always welcome winners, and at the
same time we benefit from the volume generated by
our clients' trading activities.
Unlike traditional spread-trading platforms, FXCBS
operates an ECN (Electronic Communication
Network). How does your ECN forex trading model
work?
The ECN model of FXCBS gives the Forex traders
direct access to the inter-bank market where they
can benefit from the best prices and execution
available in the market. This process has two sides;
1. Pricing: as our aggregation engine retrieves live
prices from multi inter-bank liquidity providers