Of course not. "Forex places like Oanda" aren't brokers: they're counterparty market-makers pretending to be brokers.
If you are a retail FX trader, would you prefer your FCM or the CME is your counter party for risk? Would you prefer a centralized order book or many independent platforms with different prices? Bob
There's plenty of liquidity in CME FX futures for most people. But the trouble is there is no half tick which for something like the Euro is a joke. Plus the dopes who setup the futures all those years ago made a big mistake, they listed some of them the wrong way around, CAD and Yen for example are listed as JPY-USD and CAD-USD and that makes them very expensive for short term trades. Longer term it's no problem.
I stand corrected then Robert. I don't trade FX futures but I occasionally look at their prices and on my Button Trader they're always listed as trading without the half tick.
It was a recent change. I have never traded FX futures, spot or non-deliverables myself. I have a few clients that trade FX futures.
Another case where the SEC limits, instead of protecting my rights as an individual trader/investor. Funny how "protect investors" seems to imply "protect investors from themselves", rather than "protect investor's rights" like it should be. SEC should be abolished. Worthless organization. And I am forced to pay the SEC for each stock sale. BS!
So why is FX trading regulated by the SEC in the IB universal account? The futures side of the account is regulated by the CFTC. IB could regulate FX trading like FXCM.
Applies only to US-based traders? Or those trading with IB US? Possibly. I haven't received any communication warning of the withdrawal of FX trading. My account is with IB in Hong Kong (resident) and since late last year that has been a separate entity.