Hahaha..... The US govt ironically mabbe actually doing a great unintended favor to 99% of the traders here.
GS
GS
United States brokers 5 replies
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United States Traders 0 replies
Is Go Markets Banning Trading Account for Indians? 8 replies
Disliked{quote} No. If the the US Govt were to try to ban FX trading, it would have to give a reason, and one would assume that the reason would be that FX trading is "gambling." If that's the case, then Las Vegas must also close, not to mention horse racing, dog racing, lotto etc etc etc....iow....never happen. But, even if USA were to ban FX trading, it doesn't follow that the rest of the world would do the same. Because USA restricted the leverage and employed the FIFO rules etc etc, no one else followed suit. The rest of the world can actually think...Ignored
Disliked{quote} We Americans do think we are the center of the Galaxy, don't we? Now you are supposed to agree, or the U.S.S. Democracy will be at your doorstep to show you the way to freedom.Ignored
DislikedIf they really want to stop people losing all their money on forex, why dont they just ban the use of indicators and technical analysis?😅Ignored
Dislikedwell it ain't going to happen in the UK as the UK Gov PLC takes a cut from the losses in a form of gambling tax from the spread betting companies but if trading Forex is risky what about shares / Oil / Gold and all the other instruments and derivatives surely these would need to be banned aswell, so also wont happen especially as the UK Government likes to sell off bits of UK Gov PLC to the every man and women, every now and again, (as it makes them feel good, helping Mr and Mrs average) plus the UKs Govs very rich friends and donors own the spread...Ignored
Disliked{quote} I also don't think it'll happen here - we already got 3+ categories of trading forex - Spread betting - forex - derivatives - we know already that it's gambling - why would they ban any of them. Might be different in US tho - If they can implement FIFO and FATCA they can do anythingIgnored
Disliked{quote} we're lucky here in the UK as we will probably always be can gamble to our hearts are content (or no money left in the bank) and the abundance of gambling and casino ads on TV does n't seem to be stopping anytime soon (unfortunately) Murdochs SKY casino and the all other casinos would have to be banned, and Horse race betting the Queen loves to bet on the Horses so that can't be banned half of the 5 trillion a day FX market is actually swap transactions, so someone probably has n't thought the idea through properly and unlikely it will really...Ignored
DislikedThey need to raise the required balance amount for Forex brokers. Why? Because a lot of losers think that they can throw their last thousand dollars into a market that is known for its difficulty. They then blow the account then the begging and complaining about brokers comes in. A higher required balance would cut down on the loser pipe dream 500 dollar account traders under the delusion that trading .01 lots will change their financial situation. This seems drastic but if you look around even here on FF you will find these type of people under...Ignored
DislikedI think raising minimum accounts sizes would worsen the problem because being able to trade .01 lots only improves the situation of the small-time trader. Why? Because he can trade with the same calm mentality of the large fund manager. For a newbie trader, losing $5 is the same as losing $50,000 for a professional - at least in terms of account size (though not in utility value). Years ago I only traded S&P futures - and this was prior to the E-Mini rollout in 1998. Minimum margin? $20,000 to hold overnight, $10,000 to day trade. At the time, I...Ignored