No doubt there is some truth to that. I'll bet Dodd and Frank got big donations from the exchanges, but not much money from Oanda and the other forex shops. Hey, Oanda, you have to learn how the game is played here in the U. S. of A.! We have the best politicians money can buy.
I am in the process of closing my offshore Forex account as I cannot take the chance of being made an example of. The interpretation of the Dodd-Frank Act seems to be a work-in-progress, so until I can understand the intepretation of it, I will not break the new law and trade with an offshore dealer, even if the USA does not have the funding to enforce the law. ElectricIsBluffedEnoughByTheUSGovernmentToFollowTheirSeeminglyUnconstitutionalRulesSavant P.S. Welcome to the USA (are you folks understanding Obama's vision yet?...how's that workin' out for ya'?
What's the point of the PDT rules? It's just more government intrusion run amok. Meanwhile we sink further into the abyss while infinitely more pressing matters are largely ignored.