It seems as if the recently signed HIRE Act may have significant implications for US citizens trading foreign exchange via overseas forex brokerage accounts. A couple of takes on the legislation:
http://tinyurl.com/ylcb7x7
http://tinyurl.com/yabxh8c
Not sure yet what it all means for those of us that trade FX via foreign brokers, but it seems a replay of FxPro abandoning US clients is likely to play out up to the December 31, 2012, implementation date for any offshore broker that doesn't want to deal with the paperwork associated with having American clients.
Truly sad....
http://tinyurl.com/ylcb7x7
http://tinyurl.com/yabxh8c
Not sure yet what it all means for those of us that trade FX via foreign brokers, but it seems a replay of FxPro abandoning US clients is likely to play out up to the December 31, 2012, implementation date for any offshore broker that doesn't want to deal with the paperwork associated with having American clients.
Truly sad....
Attached File(s)
