The proposed cap of 1.5-1 is not for nfa regulated firms it is for firms that are members of FINRA only. Nfa , if your read on their website are looking to cap it at 100-1 nothing less. Look at the Finra ruling its for members only of FINRA which most of the normal regulated NFA brokers are not. 100-1 is still huge and thats what it will be.
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possible FX leverage 'cap' gonna happen?
- Thread starter increasenow
- Start date
Quote from cocaineaddict:
Your funds are protected up to 50K GBP in the UK?
Does this only apply to UK residents? or can US residents be eligible somehow with your FX broker?
Good question. I have no idea of the answer though, sorry.
cstfx suggested an alternative which I hadn't heard of before (thanks cstfx), that may be worth looking into as well.
Yes, every customer in the UK regardless of the passport is protected. Its an EU-directive every member country has to implement, although some countries are late doing that. The amount varies from country to country, but in general this protection is EU-wide and applies also to foreigners. Its a bit like SIPC in the usa, every financial service provider that is licensed in the EU (essentially banks, agency brokers and retail marketmakers) has to pay into a fund that is used to compensate bankruptcy victims.
You have to be classified as retail customer, this obviously does not apply to institutions.
You have to be classified as retail customer, this obviously does not apply to institutions.
Quote from Pippi436:
Yes, every customer in the UK regardless of the passport is protected. Its an EU-directive every member country has to implement, although some countries are late doing that. The amount varies from country to country, but in general this protection is EU-wide and applies also to foreigners. Its a bit like SIPC in the usa, every financial service provider that is licensed in the EU (essentially banks, agency brokers and retail marketmakers) has to pay into a fund that is used to compensate bankruptcy victims.
You have to be classified as retail customer, this obviously does not apply to institutions.
Can you provide a link to that information? This is awesome information btw!
Makes switching to FXCM UK a no-brainer