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Attachments: Could 10:1 be the new leverage in US Forex?
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Could 10:1 be the new leverage in US Forex?

  • #901
  • Apr 8, 2010 5:46pm Apr 8, 2010 5:46pm
Quoting Jade Gate
CFTC's website has had a make-over. Big improvement.


http://www.cftc.gov/
probably used all the lobby money they've been getting
  • #902
  • Apr 8, 2010 6:04pm Apr 8, 2010 6:04pm
Quoting blacksun1
probably used all the lobby money they've been getting
Rather hope it's because they have come to the realization that they have a public audience who is vitally interested in what they do (including any stuff-ups their glorious leader makes).
  • #903
  • Apr 8, 2010 9:43pm Apr 8, 2010 9:43pm
Quoting DavidValera
i dont have a us broker anyways i dont care, uk and euro brokers are the way to go
what uk broker do u prefer? i'm interested to know.
  • #904
  • Apr 8, 2010 10:38pm Apr 8, 2010 10:38pm
Quoting Jade Gate
CFTC's website has had a make-over. Big improvement.


http://www.cftc.gov/
A pig with lipstick is still a PIG
  • #905
  • Apr 8, 2010 11:14pm Apr 8, 2010 11:14pm
I've read several posts where the remark is to move their accounts to the UK. I'm a U.S. citizen and would ranther keep my money here in the U.S. we export enough and our services out of the country. i'm not in favor of the 10:1..
  • #906
  • Apr 10, 2010 8:55am Apr 10, 2010 8:55am
Has anyone found any new info?

The silence from CFTC de-fuses the issue and, in effect, makes it new again while we are distracted with other minor issues such as life.

Shock and awe as such.

We need to get that petition out, Jade, before they blindside us with their little surprise of 10:1 for our own good despite the opposition....

Where do we stand?

Thanks
Scarlett
  • #907
  • Apr 10, 2010 10:27am Apr 10, 2010 10:27am
Quoting Scarlett
Has anyone found any new info?

The silence from CFTC de-fuses the issue and, in effect, makes it new again while we are distracted with other minor issues such as life.

Shock and awe as such.

We need to get that petition out, Jade, before they blindside us with their little surprise of 10:1 for our own good despite the opposition....

Where do we stand?

Thanks
Well less than 100 signatures so far...the apathy is amazing considering what is at stake, it takes less than 1 minute to sign...obviously he is not going to be removed b/c of an online petition, but that is not the point, the point is to show your united opinion and strenght in numbers in this important matter, not to expect that he will actually be deposed.
http://www.petitiononline.com/gensler/petition.html
  • #908
  • Apr 10, 2010 11:03am Apr 10, 2010 11:03am
Quoting wwwin
Well less than 100 signatures so far...the apathy is amazing considering what is at stake, it takes less than 1 minute to sign...obviously he is not going to be removed b/c of an online petition, but that is not the point, the point is to show your united opinion and strenght in numbers in this important matter, not to expect that he will actually be deposed.
http://www.petitiononline.com/gensler/petition.html

just signed....every regular on FF should sign this.
  • #909
  • Apr 10, 2010 2:26pm Apr 10, 2010 2:26pm
CFTC Approves Bankruptcy Protections For Cleared OTC Trades

By Sarah N. Lynch, Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The U.S. Commodity Futures Trading Commission Wednesday approved a final rule that seeks to better protect customers' over- the-counter derivatives positions and collateral in the event their futures broker goes bankrupt.

The rule will create a separate new "account class" for over-the-counter derivatives, many of which may be routed into clearinghouses if the financial overhaul bill is approved by Congress this year.

Unlike the securities world where the Securities Investor Protection Corporation backs up customer money if a broker goes under, federal commodities law relies on provisions that require financial firms to segregate customer accounts to hold funds for futures and options contracts.
In the event of a bankruptcy by a financial firm, a formula is used to figure out how to divide the pool of money to investors.

If a firm wishes to co-mingle customer margin funds for cleared futures and over-the-counter products, it can do so with special permission from the CFTC. Without receiving the special order from the agency, however, it's possible some cleared contracts may not receive the same degree of protections in the event of a bankruptcy.

-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634; sarah.lynch@ dowjones.com


New rule subject to approval of financial reform legislation AFAIK.
...not bad, keep going, require protections for spot fx funds...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #910
  • Apr 11, 2010 11:46am Apr 11, 2010 11:46am
Quoting wwwin
Well less than 100 signatures so far...the apathy is amazing considering what is at stake, it takes less than 1 minute to sign...obviously he is not going to be removed b/c of an online petition, but that is not the point, the point is to show your united opinion and strenght in numbers in this important matter, not to expect that he will actually be deposed.
http://www.petitiononline.com/gensler/petition.html
I think what we need to do is to post on the other "10:1" sites that there is a petition available to oust Gensler and let them know that they can sign it.

I'll do it if you can show me what link I should put on other sites...
Scarlett
  • #911
  • Apr 11, 2010 12:04pm Apr 11, 2010 12:04pm
Quoting Scarlett
I think what we need to do is to post on the other "10:1" sites that there is a petition available to oust Gensler and let them know that they can sign it.

I'll do it if you can show me what link I should put on other sites...
This link thanks
http://www.petitiononline.com/gensler/petition.html
  • #912
  • Apr 11, 2010 1:00pm Apr 11, 2010 1:00pm
Quoting The Fool
CFTC Approves Bankruptcy Protections For Cleared OTC Trades

....If a firm wishes to co-mingle customer margin funds for cleared futures and over-the-counter products, it can do so with special permission from the CFTC. Without receiving the special order from the agency, however, it's possible some cleared contracts may not receive the same degree of protections in the event of a bankruptcy....
Hmm, the FSA does not exempt anyone, this special treatment of some firms is a waste of taxpayer's money and resources in deciding who to exempt or not...opens the door for under the table payoffs and heps the cronies...if Gensler really wants to protect the public and not his cronies, he should be financially liable if he exempts a firm and then the firm goes belly up. And why no talk of prohibiting comingling in FX? I thought they were supposed to protect FX retail traders too.
  • #913
  • Apr 11, 2010 1:22pm Apr 11, 2010 1:22pm
I think that if regulators truly wanted to protect traders they should put an end to some brokers deceiving advertising.

Having forex mini accounts available from $200 deposit and standard forex accounts available from $1500 deposit is the first step for disgrace.

Under capitalization in trading is a "crime".
  • #914
  • Apr 13, 2010 1:40pm Apr 13, 2010 1:40pm
Quoting LaughingDicK
I think that if regulators truly wanted to protect traders they should put an end to some brokers deceiving advertising.

Having forex mini accounts available from $200 deposit and standard forex accounts available from $1500 deposit is the first step for disgrace.

Under capitalization in trading is a "crime".
I disagree. Such brokers generally offer small enough trade sizes that it's possible to trade with reasonable risk. Of course, that is up to the trader, as it should be.
  • #915
  • Apr 14, 2010 7:51am Apr 14, 2010 7:51am
Quoting wwwin
This link thanks
http://www.petitiononline.com/gensler/petition.html
number 118
  • #916
  • Apr 14, 2010 7:56am Apr 14, 2010 7:56am
Quoting kodflakes
number 118
Didn't it used to be 121?

I put a note on 3 or 4 other threads discussing 10:1 letting them know that the petition was available.....can people remove their names once they've signed?

Is 118 an increase or decrease from 2-3 days ago?
Scarlett
  • #917
  • Apr 14, 2010 8:55am Apr 14, 2010 8:55am
Quoting Scarlett
Didn't it used to be 121?

I put a note on 3 or 4 other threads discussing 10:1 letting them know that the petition was available.....can people remove their names once they've signed?

Is 118 an increase or decrease from 2-3 days ago?
it's an increase, the posting seemed to have worked somewhat, still amazing how few people have signed so far.
http://www.petitiononline.com/gensler/petition.html
  • #918
  • Apr 14, 2010 9:03am Apr 14, 2010 9:03am
I'll look for other threads but we should send it pretty soon....what do yall think?
Scarlett
  • #919
  • Apr 14, 2010 9:06am Apr 14, 2010 9:06am
Quoting kodflakes
number 118
Very good,,,wish could post the link in other sites, but new and can't post links on other sites if I open the membership recently. Should be posted in babypips, trade2win, fxstreet, and some of the other high traffic sites
http://www.petitiononline.com/gensler/petition.html

Better still is to put as signature, that way every prior post has the link too! DONE
  • #920
  • Apr 14, 2010 12:50pm Apr 14, 2010 12:50pm
anyone heard any news on when 10:1 margin will be implemented?
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