New system from Alleycat

[James]

Originally posted by foroz


Educators in Australia have found that they too possibly need to be licensed under ASIC.

There certainly has been a reduction in numbers of people coming into the major cities wanting to charge big dollars for seminars on options in recent times.

ASIC made at least one company pay the pips they received as an Introducing Broker for forex companies back to their Australian clients.

This is all true. I know the company who had to return the pips personally, and I know of several other companies forced to close. Similar legislation is now active in South Africa, and we have had to comply with the stringent regulations, which are tougher then the US, not to mention costly to implement. In the end though, it is good for the industry.

[upcash]

Sorry Foroz i went back through my info and your right no seminar info on web site never was, i used the contact button to find out some info and i was put on their mailing list, the actual course is a workshop, not for beginners but for those that trade live or have been on a demo for at least 6 mnths and wish to get further ideas about different ways to trade fx,it was what i needed

[upcash]

Makedon
The weekend workshop [course] was $500 [new workshops $800 Aus] and yes it was really good value for money also if you want to repeat the workshop it will only be 20% of the price plus there is on going support
I also have seen the seminars that ask for3k-5k,
We are a bit of thread it's suposed to be about Alleycats new fx course

[hotoracle]

Hi upcash,

The trader you mentioned now uses this we3site forextradersupportservices com. It has been a while since you did the course.

What is your opinion of the course now, was it worthwile?

The Oracle.

[Smooth Operator]

Do the following changes mean Saxo would possibly reconsider their position or is it only aimed at those providers based in Australia?

Thursday 13 January 2005
The Australian Securities and Investments Commission (ASIC) today announced the release of a class order relieving some overseas wholesale financial service providers, which are dealing in foreign exchange contracts and making markets in derivatives and foreign exchange contracts in Australia, from the need to hold an Australian financial service (AFS) licence.

'This relief means that some foreign counterparties to derivatives and foreign exchange contracts will not be required to hold an AFS licence where they are dealing or making a market', ASIC Director of Regulatory Policy, Mr Mark Adams, said.

'The relief has been provided to accommodate the way in which some wholesale counterparties deal with each other on a day-to-day basis, and removes an unintended limitation to the scope of existing licensing relief in the regulations', Mr Adams said.

[Chris Hood]

It may apply to Saxo's trading function for Sonray, a new retail FX dealer in Australia. The Sonrary platform is Saxo's, white-labeled to Sonray. Whatever the meaning of the relief, I would steer clear of Sonray and Saxo. That is based on my first-hand experience with the Saxo Trader.

Contrary to Saxo's advertising hype, the platform does not stream tradeable prices or fill orders instantly -- at least not if you're ahead in your account or the positions at issue. In our Saxo account, in the first two weeks after opening it, about half of our profitable trades and orders were not honored. Saxo's market maker intervened against us and refused to fill the orders. We lost a mint for that reason and closed the account.

[douji]

Thanks for the head's up Chris

Brett

[Peter40]

Originally Posted by John Churchill

I note that Alleycat have introduced a new system, as advertised at http://www.alleycatnews.net/forex/

Has anyone seen or used this and have any comment to make?

John

I bought their earlier Forex Profit System and it was garbage. They were selling it for 99$ and it was simply a moveing averages crossover system. Their new system is also same but they use different indicators and ofcourse without any proof or track records.