Hi,
This my second post after a LONG abscence so please 'indulge me' here (I'm asking this question in a number of places because I'm trying to get some input on the subject that makes sense to me)!!!
Here's the thing:
This 'business' of the CFTC reducing / restricting the maximum leverage to 50:1 is not making any sense to me. Put another way: SURELY they must know that most (I make that assumption) retail forex traders are simply going to move their accounts to brokers oustide of the USA not??? Would this be a reasonable statement to make???
Now assuming that I know what I'm saying above there are two things that are bothering me about this:
1 - It has come to my attention of late that even some of the brokers OUTSIDE of the USA will no longer accept clients from within the USA. WHY NOT is what I'd like to know!!!
2 - Do you think that at some point the US Goverment is going to somehow pass legislation / restrict US Citizens from moving money out of the USA to foreign brokers???
I'm in South Africa and for what it's worth: very recently a bill was passed that OUTRIGHT BANS online casinos. And what's the bet: some type of restriction or the other is coming to regulate the flow of funds to foreign brokers outside of South Africa. OK: in the case of online casinos being banned I PERSONALLY 'smell a rat' i.e. it's only been a few years since REAL casinos have been allowed to operate within South Afirca and if you ask ME I'd say that somehow this bill was passed to PROTECT the interests of these casinos!!! 'Get my drift'??? I mean: what's the difference between going down the road to gamble or sitting at home and gambling??? What I'm saying is that such a bill CERTAINLY was not passed because the government is concerned about peoples 'well being'. If that was the case then why not ban ALL gambling???
Anyway: the point is that I'm trying to understand the logic behind the new CFTC legislation etc.
Regards,
Dale.
This my second post after a LONG abscence so please 'indulge me' here (I'm asking this question in a number of places because I'm trying to get some input on the subject that makes sense to me)!!!
Here's the thing:
This 'business' of the CFTC reducing / restricting the maximum leverage to 50:1 is not making any sense to me. Put another way: SURELY they must know that most (I make that assumption) retail forex traders are simply going to move their accounts to brokers oustide of the USA not??? Would this be a reasonable statement to make???
Now assuming that I know what I'm saying above there are two things that are bothering me about this:
1 - It has come to my attention of late that even some of the brokers OUTSIDE of the USA will no longer accept clients from within the USA. WHY NOT is what I'd like to know!!!
2 - Do you think that at some point the US Goverment is going to somehow pass legislation / restrict US Citizens from moving money out of the USA to foreign brokers???
I'm in South Africa and for what it's worth: very recently a bill was passed that OUTRIGHT BANS online casinos. And what's the bet: some type of restriction or the other is coming to regulate the flow of funds to foreign brokers outside of South Africa. OK: in the case of online casinos being banned I PERSONALLY 'smell a rat' i.e. it's only been a few years since REAL casinos have been allowed to operate within South Afirca and if you ask ME I'd say that somehow this bill was passed to PROTECT the interests of these casinos!!! 'Get my drift'??? I mean: what's the difference between going down the road to gamble or sitting at home and gambling??? What I'm saying is that such a bill CERTAINLY was not passed because the government is concerned about peoples 'well being'. If that was the case then why not ban ALL gambling???
Anyway: the point is that I'm trying to understand the logic behind the new CFTC legislation etc.
Regards,
Dale.
