but clients and potential customers expect the brokers to be at least registered with some national regulatory body before they (clients) deposit funds with the brokers. traders and investors love to see: "BigRetailFX, LLC. is a registered Futures Commission Merchant (FCM), registered with the Commodity Futures Trading Commission (CFTC) and NFA member (0999999), and maintains the required regulatory capital currently US$20 million."
What a terribly misinformed douche. "on a position held open the spread is charged again and again as a rollover fee" " If you short the Euro/USD cross, for example, and expect a 100 pip (one cent) move on your trade, you might pay three pips of spread to enter and another three to exit, for a total "vig" of six pips. That's a 6% commission!" Can you believe this guy received the 2008 Reed Irvine Accuracy In Media Award? Hilarious.
Hey guys send this letter to make known your disapproval of the new 10-1 leverage rule. ____________________________________________ To whom it may concern, I am a retail trader and I am strongly opposed to the 10:1 leverage proposal by the CFTC. This regulation/requirement will drive many of the "smaller guys" out of the markets entirely or to offshore (ie unregulated) brokers. The liquidity provided by retail traders increase the efficiency of the markets. Removing them, or unfairly pricing them out of the markets will result in increased price volatility overall and decrease the efficiency of the markets which is bad for everyone. Please reconsider this proposal. Thank you Sign Your Name Here ---------------------------------------------------------------------- Send it via email to : secretary@cftc.gov Use the subject line: Regulation of Retail Forex
I'd rather they tax transactions...than de-leverage http://www.guardian.co.uk/commentis...ange-investment
It sucks if the 10 to 1 leverage passes, but it is what it is. There are always offshore forex brokers who will have higher leverage. Take a look at this blog, it has some pretty good articles if you want to know about forex, or even futures for that matter. http://insidetradellc.com/blog/category/forex-investments/ What do you guys think? I thought it was pretty cool.
Some good newss seems the house is on our side for the leverage rules to be squashed which is a good thng, the house agriculture committee: http://www.easybourse.com/bourse/ac...on-cftc-retail-forex-leverage-proposal-805409
Nice find on this news. This is the first time ive seen anything that makes it look like this new rule might not actually pass
Another article featuring leverage proposal in Active Trader magazine: http://www.activetradermag.com/inde...sed_leverage_crackdown_provokes_forex_dealers
Look at the picture below it was taken off the comments from the forex leverage proposal. It is a comment from Senator Orin Hatch from Utah. Interesting that a senator gets in the mix, but for some reason I cannot see what the comment was, has anyone had better luck seeing the comment and what it was about?
Wow, I didn't see that. Here's the direct link to the letter: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/frcomment/10-001c172.pdf