Instant 100% Forex Deposit Bonus + Up-to $200 FREE

Open a forex account today, or replenish your exiting forex trading account and become eligible to receive an instant 100% bonus on your deposit. Double your investment capital with FIGfx brokers before you even engage in forex trading. In addition, FigFX Brokers will add up-to $200 free bonus to your account absolutely free.

During 2010 for example, over 22,000 traders took benefit from this generous bonus. In 2011 and with the release of this new website, we have decided to make this 100% more like a tradition by making it a static, unique and of course unbeatable offer for all our traders.

How to Get The Free 100% Deposit Bonus?

All you have to do is actually open a forex trading account or replenish your existing trading account maintained with FIGfx Brokers; Upon receiving your deposit, we will instantly check if your account meets the terms and conditions listed on this page and credit the 100% bonus immediatley if you are eligible.

General Terms and Conditions for the 100% Deposit Bonus

Please make sure you read and understand the following terms in regards to our 100% free deposit bonus. Our backoffice assistants will check each and every account deposit against these rules and will credit the 100% bonus only if your account meets the following:

Offer is valid for fully verified accounts only (help)
There is a minimum deposit requirement of $10
The 100% is given unlimited times; Once upon initial deposit, and once on the each replenishment afterwards.
Additional bonus(es) are credited after a stop-out only. Consecutive deposits does not mean multiple bonuses
Fund transferred between accounts are not eligible (see exceptions below)
Internal account transfers does not qualify them to get the bonus (see exceptions below)
Bonus cannot be transferred between accounts
Bonus cannot be combined with any other bonuses and/or promotions
Only one account per person is eligible to receive the bonus
Only one account per household is eligible to receive the bonus
Participant must make a minimum lot round turn transactions as per table below
Bonus will be applied to an account as usable credit bonus
Bonus does not apply for managed accounts
Bonus is not given to accounts banned/blocked earlier for breaching any terms of service
Bonus is not withdraw-able until the required round turn lot transactions are completed
Bonus will be removed from an account after 45 days of account inactivity
Bonus will be removed upon account stop-out automatically; You can deposit again to get the bonus again.
Offer available in All countries except Kuwait, Pakistan and Cyprus

Additionally, please notice the following in regards to your rewarded bonus:

Credits can not be accomulated, the bonus credit is removed automatically before another bonus is credited.
Credited bonus is removed upon account stop-out; If you replenish your account again, you get the bonus again as well.
Credited bonus will be removed instantly upon your first withdrawal of any size, before comlpeting the required lots.
Additional bonuses (except first one) are available to stopped-out accounts only upon account replenishment.

Internal Account Transfer Exceptions

Traders from Iran, Malaysia, Nigeria, Vietnam and Indonesia are exepmt from our rule above about internal account transfers. If you are a trader from any of these countries, you will be awarded the 100% bonus if you deposit locally through your local agent using an internal account transfer:

Iran: - FIGfx Iran, Mr. Iman Salahashour
Malaysia: - FIGfx Malaysia, Mr. Moh'd Rizal Maslan
Nigeria: - FIGfx Nigeria, Mr. Uche Alozie
Vietnam: - FigFX Vietnam, Mr. Le Van Minh

Bonus Award Table

For deposits above $10 and less than $200, the awarded bonus is 100%
For deposits above $200 and less than $500, the awarded bonus is 75%
For deposits above $500 and less than $1000, the awarded bonus is 50%
For deposits above $1000 and less than $5000, the awarded bonus is 25%
For deposits above $5000, the awarded bonus is 5%

Get an additional 5% if you deposit by Moneybookers, VISA® or Mastercard™
** up-to $200 only for all Moneybookers/Card payments.

** IMPORTANT NOTICE:
-- While the 100% bonus is usually credited instantly, it might take up to 48 hours to appear on your account; specially on weekends.

Minimum Lot Round Turn Requirements for Bonus Withdrawal

15 closed lots are required for deposits of $10-$200
25 closed lots are required for deposits of $200-$500
50 closed lots are required for deposits of $500-$1000
100 closed lots are required for deposits of $1000-$5000
300 closed lots are required for deposits of $5000 or more.

** IMPORTANT NOTICE:
Fair Usage Policy:
To make sure traders do not violate the minimum required lots requirements, the following is taken in consideration:

Fully hedged positions do not count towards the required lot requirement
Cancelled trades do not count towards the required lot requirement

Trade More, Earn More

Upon withdrawal of the bonus money, our backoffice assistants will check your trading pip average; the higher your pip average is, the bigger portion of the bonus money will be withdrawn per your request as per table below:

For pip average < 4 pips, no bonus will be withdrawn.
For pip average > 4 pips, withdrawn bonus will be 10% only of the 100% initial bonus
For pip average > 8 pips, withdrawn bonus will be 15% only of the 100% initial bonus
For pip average > 12 pips, withdrawn bonus will be 20% only of the 100% initial bonus
For pip average > 16 pips, withdrawn bonus will be 30% only of the 100% initial bonus
For pip average > 20 pips, withdrawn bonus will be 50% only of the 100% initial bonus
For pip average > 30 pips, withdrawn bonus will be 65% only of the 100% initial bonus
For pip average > 40 pips, withdrawn bonus will be 85% only of the 100% initial bonus
For pip average > 50 pips, withdrawn bonus will be all the 100% bonus amount

You can check your pip average from within your account's control panel at anytime.

Additional Terms and Conditions

FIGfx brokers reserve the right, at it's sole discretion, to disqualify any individual that tampers/attempts to tamper with the Promotion, or breaches any agreed Terms of service.
FIGfx reserves the right to alter, amend or terminate this Promotion, or any aspect of it, at any time and without prior notice.
FIGfx may make changes to these Promotion Terms and will notify you of these changes by posting the modified terms on the FIGfx Brokers website or sending an internal mail.
FIGfx reserves the right, at it's sole discretion, to disqualify any individual from taking benefit from this offer without expressing any reasons.
FIGfx recommends you to revise these Promotion Terms regularly and, by your continued use of the FIGfx Brokers website and services you accept any such modified terms.
FIGfx assumes that each contributor has read and fully understood our terms of service, scalping policies, affiliate terms of service and other related documentation.
Any dispute or situation not covered by these Promotion Terms will be resolved by our management in a manner it deems to be the fairest to all concerned. That decision shall be final and/or binding on all entrants. No correspondence will be entered into. If these Promotion Terms are translated into a language other than English, then the English version of the Rules shall prevail where there is an inconsistency.

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I recently had an interesting conversation with Arzhang Kamarai from Tradeworx about the role of high frequency trading (HFT) in equities versus foreign exchange (FX or forex), which prompted me to write about the complexities in migrating HFT strategies to this asset class.
Wikipedia defines HFT as “the execution of computerized trading strategies characterized by brief position-holding periods, in many cases taking advantage from [sic] microstructure inefficiencies. In high-frequency trading, programs analyze market data to capture trading opportunities that may open up for only a fraction of a second to several hours.”

Historically, HFT has been predominately focused on the equities market. It emerged as market structure changes created opportunities for arbitrage and as the market making and specialists businesses became less profitable. HFT grew quickly, and in 2010 accounted for as much as 70% of all equity trades in the US.
When HFT first emerged, the cost of entry was prohibitive for most players. But in the ensuing years, the cost for hardware, software, co-location, low latency connectivity and hardware acceleration have all declined. As the technology and infrastructure become more commoditized, more players enter the space, and that results in reduced profitability for everyone.
So the most sophisticated firms are increasingly looking to other instruments as profitability in equities declines. At the same time, foreign exchange (FX) increasingly has been traded as a distinct asset class. The FX market has grown very quickly in the past few years, growing from an average daily volume of $1.5 trillion USD in 2001 to more than $4.5 trillion in 2010 according to Aite Group. Sang Lee from Aite says, “High frequency trading will represent 35% of the FX trading volume this year (2010).”

The FX market is an interesting space for HFT. It’s traded over the counter, and no single bank controls a substantial percentage of the market. The top 10 global banks control more than 77% of the market. However, according to EuroMoney, the market share controlled by the top three banks actually declined in 2010 over their 2009 market share. There are a number of multi-dealer platforms or ECNs, but these combined control less than 15% of the market. A fragmented and inefficient market is an ideal target for effective HFT strategies.

Each bank or ECN publishes its own prices — generally derived from an aggregated book that sources liquidity from Tier 1 banks and from EBS and Reuters. This creates some interesting opportunities for algorithmic arbitrage strategies. A hedge fund or HFT firm could aggregate liquidity from multiple banks simultaneously to find attractive prices for aggressive algorithms.

But it’s much more complicated than equities trading. For one thing, banks have to manage their risk, and so they watch order flow carefully. They may widen spreads or even stop publishing prices to a given customer if they sense predatory trading practices. So if an HFT firm wants to play in the FX market, it will need to develop flexible technology that allows it to respect relationships with the banks and play nice, allowing the banks to effectively hedge their risk. Firms that play fairly will be rewarded with better prices and deeper liquidity.

In addition, each bank and ECN offers different types of pricing and order types. Where one bank might stream firm prices, another might send indicative prices that are not executable. Most FX data is delivered in pulse intervals rather than continuously, and by the time the order arrives, the price may have moved substantially. So HFT firms will have their work cut out for them in developing liquidity aggregators, determining pricing, and creating smart order routers that are sensitive to distinctions in the various price feeds and to the relationships with the counter-parties.
HFT in the FX space requires substantial investment in technology and infrastructure. In FXCM’s S1 filing for Initial Public Offering, they state, “FX brokers cannot rely on standardized and inexpensive infrastructure solutions that are available to online equities brokers… This requires large investments of time and money but can result in points of competitive differentiation.”

MarketFactory.com has a helpful infographic that describes the differences between technology needs for HFT trading in equities and FX.
I’d like to hear your thoughts. Do you think HFT will increasingly target the FX space? What do HFT firms need to think about as they consider this asset class? What do the dealing banks need to consider as they adapt their systems to handle this order flow?

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