U.S. Retail forex traders will still be able to trade with foreign banks without regard to the CFTC's regulations on leverage, hedging or otherwise until July 16, 2011. This was confirmed by an attorney at the CFTC.
Please see this article on the subject: http://www.investmentlawgroup.com/content/view/237/61/
Please see this article on the subject: http://www.investmentlawgroup.com/content/view/237/61/