What happens when US citizens switch to Non-CFTC Brokers

Like gomarkets, FXDD malta etc...

What kind of legal ramifications would switching to a foreign broker have for a US Citizen? (Purposefully evading the new CFTC rules)

I do not plan on lying down for the US...I've done it before but I didn't do it for this kind of Big Gov't, in you house crap.

I have just as much right to lose money in Forex as I do in real estate/poker/strip clubs/car dealer etc...


Please any comments are welcome

Exactly !!!
As for the ramifications I'm not sure anyone is sure yet. I have a UK based account (I'm US) and asked the broker if my account was going to be moved back to the US. They don't know yet but will issue a statement sometime soon.

This is beyond a disgrace. If they want to tighten regulation, fine. More complete disclousures etc. But the US Gov has absolutely no right to tell me where I can invest my money and where I cannot. If I want to buy african commodities, or swiss property, who are they to tell me otherwise.

I hope every dollar of retail forex moves offshore. This regulatory chnage is totally facist.

What for u want to switch to unregulated brokers. Do u want not to see your money ever again?

Go and FXDD are regulated.

they work under fixed spread. Same like interbankfx. They have thin liquidity.

In the case of FXDD, they do have a US affiliate (FXDD US), so FXDD Malta would not be an option for US traders...