- Joined Dec 2013 | Status: Member | 1,910 Posts
Learn, a forex trader must, unlearn and relearn he will.
- Joined Dec 2013 | Status: Member | 1,910 Posts
Learn, a forex trader must, unlearn and relearn he will.
Forex Market Structure and Dealers 3 replies
Breaking News: Belgium bans all leveraged Forex, CFDs 92 replies
CFTC bans use of credit cards to fund retail forex accounts 21 replies
FDIC Seeks Comment on Rule Governing Retail Forex Transactions 10 replies
DislikedSome good news guys: I just spoke with IB and they have confirmed this: IB will NOT be impacted by this stupid ban coming this July. They are aware of this notice but they are making structural changes in order that existing FX customers WILL be able to continue to trade FX with IB UNINTERRUPTED. BUT this might be just for Canada as I spoke with a Canadian manager. For US traders , IB MAY still be affected by the ban.Ignored
DislikedSome good news guys: I just spoke with IB and they have confirmed this: IB will NOT be impacted by this stupid ban coming this July. They are aware of this notice but they are making structural changes in order that existing FX customers WILL be able to continue to trade FX with IB UNINTERRUPTED. BUT this might be just for Canada as I spoke with a Canadian manager. For US traders , IB MAY still be affected by the ban.Ignored
DislikedBUT this might be just for Canada as I spoke with a Canadian manager. For US traders , IB MAY still be affected by the ban.Ignored
DislikedLeapRate Exclusive LeapRate has learned that the US Securities and Futures Commission (SEC) has quietly filed a notice indicating that as of July 31, broker-dealers will no longer be able to engage in leveraged foreign exchange transactions with retail traders. The ban includes those brokers-dealers which are dually registered with the US Commodity Futures Trading Commission (CFTC) as Future Commission Merchants (FCMs). So what does this mean for the 'FCM-only' brokers in the US, such as FXCM, Forex.com and Oanda? And might the effective regulators...Ignored
Disliked{quote} Great point Mitch But, what exactly does it mean for Forex retail traders. Is it time to switch to forex futures?Ignored
DislikedIt is a good tactic on the surface, but you're still risking the same amount. If your trade turns catastrophic, you will get a margin call and still have to pay up. You're still liable for all losses, and they can go well beyond your deposit amount. You'll also pay more for commissions, by not having a fully funded professional level account imo. Forex is just the wild west and I still think your method is a good tactic though. I'm very leary of putting my money in any forex brokers hands, for fear of them closing shop or manipulating my orders....Ignored
DislikedAnd then there were 3.......The NFA is well on it's way to it's goal of eliminating retail forex in the US. The regulaltions are only there to do that, while they tout them as protection for us. Everyone needs to go offshore, there are several great, trustworthy brokers. The US no longer has a true ECN offering. What a joke.Ignored
DislikedAnd then there were 3.......The NFA is well on it's way to it's goal of eliminating retail forex in the US. The regulaltions are only there to do that, while they tout them as protection for us. Everyone needs to go offshore, there are several great, trustworthy brokers. The US no longer has a true ECN offering. What a joke.Ignored
Disliked{quote} Im sorry, when you said " And then there were 3" I thought you were referring to US brokers ? Considering the following: Traders Way is located in Cyprus FXChoice is located in Belize AssetsFX is located in Finland.Ignored