Ajata Posted May 4, 2010 Report Share Posted May 4, 2010 Is there any update on CFTC proposed rules for restricting leverage to 10:1? When are they going to decide on this, any soon? Im thinking of opening an account with an USA fx broker but i dont want to do if they going to institute this rule in a couple of months? Does any one have any insights on this ruling? Quote Link to comment Share on other sites More sharing options...
chrisbenjy Posted May 6, 2010 Report Share Posted May 6, 2010 As far as I'm aware, it was just a marketing ploy by an Expert advisor salesman claiming to be a wall street trader. Although there were sugestions on an investment news website that this may happen in the US, but not for atleast 12 months. Also, I dont think this will have any affect on traders; brokers will just migrate their offices overseas in order to escape regulations. Ajata 1 Quote Link to comment Share on other sites More sharing options...
Ajata Posted May 7, 2010 Author Report Share Posted May 7, 2010 As far as I'm aware, it was just a marketing ploy by an Expert advisor salesman claiming to be a wall street trader. Although there were sugestions on an investment news website that this may happen in the US, but not for atleast 12 months. Also, I dont think this will have any affect on traders; brokers will just migrate their offices overseas in order to escape regulations. What you mean? There is some guy with some agenda? So you dont think it is going to happen any soon. There was a big talk a few moths ago but now it is all silent... Quote Link to comment Share on other sites More sharing options...
⭐ BrenSK1977 Posted May 7, 2010 Report Share Posted May 7, 2010 Where is leverage 10:1 ? Quote Link to comment Share on other sites More sharing options...
Ajata Posted May 10, 2010 Author Report Share Posted May 10, 2010 Where is leverage 10:1 ? There is a discussion to make a leverage 10:1 in USA. Quote Link to comment Share on other sites More sharing options...
litxus82 Posted May 10, 2010 Report Share Posted May 10, 2010 I doubt it will happen, as then most traders will move accounts outside USA or switch to futures (I believe futures max leverage is at 25:1 but could be wrong). If happens more will probably move to off shore brokers than switch trading instruments, so it would be a huge loss in US revenue. Quote Link to comment Share on other sites More sharing options...
soundfx Posted May 10, 2010 Report Share Posted May 10, 2010 Hi Ajata, Why do you want to open an account with a US broker in the first place? US brokers already have to abide by the anti-hedging (FIFO) rules, which makes them useless for any traders who scale-in or scale-out of positions. There are lots of good non-US brokers and many US brokers have anticipated this pointless regulation causing big problems and have set up sub-divisions outside the US. As for the 10:1 proposal lol, this means that if you want to trade 1 lot of GBP/USD then you need an account of around $16,000 to cover your margin - that will ensure that the the final nail is driven in the coffin of US retail Forex spot trading. Congress are looking again at the CTFC proposal after the CTFC were bombarded with objections to the proposal, I'm not aware of any further news. Ajata 1 Quote Link to comment Share on other sites More sharing options...
Ajata Posted May 12, 2010 Author Report Share Posted May 12, 2010 Hi Ajata, Why do you want to open an account with a US broker in the first place? US brokers already have to abide by the anti-hedging (FIFO) rules, which makes them useless for any traders who scale-in or scale-out of positions. There are lots of good non-US brokers and many US brokers have anticipated this pointless regulation causing big problems and have set up sub-divisions outside the US. As for the 10:1 proposal lol, this means that if you want to trade 1 lot of GBP/USD then you need an account of around $16,000 to cover your margin - that will ensure that the the final nail is driven in the coffin of US retail Forex spot trading. Congress are looking again at the CTFC proposal after the CTFC were bombarded with objections to the proposal, I'm not aware of any further news. I was looking at mbtrading, they look like a good broker to me, you can trade micro, mini and standard lots from same account. Spreads are also good. Do you know about any non-usa good broker like that? regards Quote Link to comment Share on other sites More sharing options...
mlee Posted September 4, 2010 Report Share Posted September 4, 2010 New leverage rules now confirmed, please refer to this thread: http://indo-investasi.com/showthread.php/8650-CFTC-Leverage-Ruling. Ajata 1 Quote Link to comment Share on other sites More sharing options...
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