Hurricane
Registered: Jan 2003
Posts: 766 |
05-11-12 12:54 AM
Quote from Dan37a:
LEVERAGED FOREX TRANSACTIONS
As a result of new NFA regulations, spot forex transactions conducted through IB's IdealPro venue will now be classified as either leveraged or non-leveraged with eligibility requirements applied to accounts conducting leveraged transactions. As background, a leveraged forex transaction is generally defined as one which results in a short non-base currency position (i.e., borrowing) that exceeds the sum of non-cash assets (i.e., securities) plus the net liquidating value of the account.
Essentially all of my forex trading with IB would be defined as "leveraged forex transactions" and my short non-base currency position exceeds my non-cash assets on a daily basis. (Often times exceeding it by 10-15 times for a brief period of time). But I thankfully did not get any such e-mail from them. I have been with them for 10 years or so so perhaps this factored into their decision. Or perhaps they're sending out the e-mail in batches and they haven't gotten to me yet! Curious as to whether or not many others are in this same situation.
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