10:1 could be the new leverage rule

Quote from Pension_Admin:

The question I have is that would American use foreign firms to trade then?
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it is doubtful. most non US financial firms don't want american customers. It is also doubtful because many US customers don't trust foreign firms.
 
Quote from zdreg:

it is doubtful. most non US financial firms don't want american customers. It is also doubtful because many US customers don't trust foreign firms.
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Most Americans right now don't trust their government, they probably would trust a regulated UK or Swiss broker no less.
 
Quote from Dominic:

If I'm understanding this correctly, the above proposed is for SPOT FOREX and not currency futures like 6E, 6A, 6J etc??
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Correct - Obama is looking out for his Chicago cronies at the CME - someone got the idea that all these pikers trading $25 spot forex accounts will flock to exchange trade futures if the lotto element is yanked out the spot bucket shops. Someone ought to tell the CME that $25 pikers won't have the vig to open a futures trading account, even to trade the mini currency futures.
 
Quote from Surprise:

Ofcourse at the end its up to u , but i am talking about sucessful trading point of view not from the reglation side , i dont care u want to use 400:1 or 100:1 go use it i didnt stop u . Its like someone says the right way is not to risk more than 2% then u say to him it is not your bussiness , go trade 400:1 who cares , infact i can help u to find 700:1 brokers if u want and they r regulated by the FSA , i dont have time for this s***
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My bad if I jumped the gun. Glad we're on the same team.
 
Quote from achilles28:

My bad if I jumped the gun. Glad we're on the same team.
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Its true that i dont care how much traders use leverage 400 or 2:1 but i am not sad about this new proposal , anyway it is a proposal only maybe it wont pass ...
 
Quote from Surprise:

Its true that i dont care how much traders use leverage 400 or 2:1 but i am not sad about this new proposal , anyway it is a proposal only maybe it wont pass ...
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Very doubtful. The previous de-leveraging (just a few months ago) happened without as much public attention as this instance and absolutely no one raised the issue.

None of the FXDC did jack shit! And now it looks like they are acting a bit too late. Serves them good!

This proposal will definitely get passed and all the bucketshops know this. If they were serious they would ask all their clients in the US via email to voice their objections to the CFTC.

FUCKIN ASSHOLES!
 
Maybe they can regulate us all into successful traders...in a happy world were nobody loses and nobody falls victim to their own bad decisions. :D
 
Quote from Jason Rogers:


FXCM is actively lobbying against it....
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Ha, you people are your own worst enemy!

You actively promote the use of dangerously excessive leverage and then moan when regulators attempt to make it a more level playing field or protect the gullible noob (if that is in fact their motive), classic!

We've just seen a good example with CR 2-43(b) Offsetting Transactions, when most of you conceded that 'hedging' in that way offered the trader absolutely no financial advantage.

Instead of basing your opposition to these proposed rules solely on the 'freedom of choice' argument you might do better by supporting your position with logical reasons why leverage above 10:1 is beneficial to the average retail forex trader and not just a faster way for him to lose all his money to bucketshops!
 
Quote from cabletrader:

Ha, you people are your own worst enemy!

You actively promote the use of dangerously excessive leverage and then moan when regulators attempt to make it a more level playing field or protect the gullible noob (if that is in fact their motive), classic!

We've just seen a good example with CR 2-43(b) Offsetting Transactions, when most of you conceded that 'hedging' in that way offered the trader absolutely no financial advantage.

Instead of basing your opposition to these proposed rules solely on the 'freedom of choice' argument you might do better by supporting your position with logical reasons why leverage above 10:1 is beneficial to the average retail forex trader and not just a faster way for him to lose all his money to bucketshops!
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sorry cable now we finally see that you are NO REAL TRADER
not profitable anyway

no one is backing bucket shops

we are against making 100 bucks a day with 10:1

if you had an ounce of brain, you would realize that IB ECN broker
would also be limited this way

I can't believe I had to explain it to you like to a little child

you just plain disappoint me man

go flip your burgers
 
Quote from mikasa:

sorry cable now we finally see that you are NO REAL TRADER
not profitable anyway

no one is backing bucket shops

we are against making 100 bucks a day with 10:1

if you had an ounce of brain, you would realize that IB ECN broker
would also be limited this way

I can't believe I had to explain it to you like to a little child

you just plain disappoint me man

go flip your burgers
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I see, well in-between me flipping my burgers I'd have time to read your explanation of why leverage greater than 10:1 is beneficial to a trader, and the relevance of your "...100 bucks a day....." comment. Are you saying you need to compensate for being underfunded by using higher leverage?

By the way, would you like fries with your order?
 
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