Trading Forex in the US after new Dodd-frank rule

I didn't see anything in that which would impact the subject of this thread, did you?

 

I don't get this. Can't a US person open a regular forex account with $5K say and trade with 50:1 leverage? What is this story about $10M accounts?

 

To which of his problems does it provide solutions to if he were to trade in the futures environment?

 

Yes, the restriction is part of Dodd-Frank. Were Dodd-Frank to be repelled in full (don't think will happen, would expect only the parts that matter to those lobbying to be repelled), then the restriction to trade FX would be no more.

 

Only with a broker not registered with SEC. IB is an SEC registered broker because it deals securities as well. There is only one non-SEC registered option for US traders: Gain Capital.

 

For example I'd still be able to trade the yen, as yen futures and usdjpy move tick by pip. Now the price format makes it un-tradeable, and would need to trade off the usdjpy chart nonetheless as insitutional money likes placing barrier options around the figure (e.g. 112.00). Been trying for the last month (trading futures rather than spot), its horrid and cost me money.

 

That's not what I said, I said that the legislation specifically referred to in the thread wasn't touching any of the Forex restrictions. Reading comprehension folks.

 

Pretty sure Oanda is still around?

 

Yes, and Oanda. Gain and Oanda. FXCM exited.

 

Not sure why FXCM exited the US market although US traders have limited choices of brokers and FXCM was a brand.. I am still confused!