10:1 could be the new leverage rule
- Thread starter Surprise
- Start date
In light of everything going on, retail FX traders should be left alone (many of us know how to use our leverage without abusing it). We had nothing to do with the so-called crisis.
The Big Three F's (Fannie, Freddie and the Fed), who paid a HUGE part of the crisis, will likely go unscathed and repeat their miserable mistakes.
What a wonderful world.
Effectively starting this trading week (Oct 17, 2010) and it's 50:1 (20:1 on "exotics").
But it looks like the request for comments resulted in informing the US government that traders will go overseas. Now it looks like US traders will also have to trade with US brokers -- also effective Oct 17, 2010.
I don't feel so "free" in this country anymore.
So which US broker is the best (since my worldwide best broker will have to drop me)? I'll post a new topic asking that question.
But it looks like the request for comments resulted in informing the US government that traders will go overseas. Now it looks like US traders will also have to trade with US brokers -- also effective Oct 17, 2010.
I don't feel so "free" in this country anymore.
So which US broker is the best (since my worldwide best broker will have to drop me)? I'll post a new topic asking that question.
" Now it looks like US traders will also have to trade with US brokers"
that is not a law as far as i am aware
i am in the process of opening an account with Dukascopy without any issues.
can you reference what you are stating as fact?
if you a referring to what i think you are, that was just a clause and not an actual law
I sure hope you are right. I want to register with Dukascopy also and I got this email today which hopefully is only wasting my day on this misinformed topic http://www.traderschoicefx.com/broker-newsletter/newsletter6.html
Traderschoicefx's initial contact with me was SPAM, but they have offered interesting news, so I began to take them as credible.
Searching came up with this http://www.traderslaboratory.com/forums/f24/us-fx-traders-must-repatriate-funds-8633.html and http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/forexfinalrule_qa.pdf
I don't like this part in the CFTC document, "only United States financial institutions are permitted to act as counterparties", but in my panic, maybe it doesn't mean what I fear.
Traderschoicefx's initial contact with me was SPAM, but they have offered interesting news, so I began to take them as credible.
Searching came up with this http://www.traderslaboratory.com/forums/f24/us-fx-traders-must-repatriate-funds-8633.html and http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/forexfinalrule_qa.pdf
I don't like this part in the CFTC document, "only United States financial institutions are permitted to act as counterparties", but in my panic, maybe it doesn't mean what I fear.
well in that mail they write that the new rule is an international one.
That is simply not true. Here in europe nobody speaks about that, and Dukaskopy in Switzerland can do what they want as long they aply to the swiss rules. and i didnt hear nothing about new leverage rules in switzerland ....