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

Here is an interesting read...(borrowed from a link on the OANDA boards)

http://ftalphaville.ft.com/blog/2010...ding-leverage/

Regards,

Jeff

Thankfully, the Dodd-Frank Act will soon close this loophole making it impossible for forex dealers to evade the scrutiny of US authorities by simply moving accounts to a location that permits them to continue taking advantage of their clients.

The key in the above paragraph written by stumm is the words forex dealers. The CFTC will be making it impossible for forex dealers. My question is can the CFTC prohibit a US citizen from moving to a non affiliated broker oversees like for example Go Markets? Stumm is probably giddy over this new legislation since it will be sending more business his way.

I spoke with Go markets and they are in NO WAY affilliated with any US broker or bank...therefore are not and will never be under the jurisdiction of the US or CFTC...see the other thread on more detailed info. Read the last 5 or so posts.

http://www.forexfactory.com/showthread.php?t=253798

I agree, Go Markets is in no way affiliated with a US broker or bank. Buuut could the CFTC interpret anything in the new regs. that would control the individual US trader ? They can't tell Go Markets what to do but they might try to tell us we can't deal with a foreign broker.

Straight from the horse's mouth (from the CEO of Oanda):

"We applaud the Dodd-Frank Act together with recent leverage reductions in other jurisdictions as these actions validate our even-handed approach to forex trading."

They are protecting the banks of whom made off with 700 bil of tax payer dollars.

The engine of the banks depend on growth. I believe someone posted a triangle a while back that shows the growth of the US and how only a few people control all the wealth in the US. Namely the banks.

It has to be this way or the triangle would be upside down and the banks would be in charge of flipping burgers, delivering newspapers, and every other mundane laborer task.

In 2004 daily forex trade was just under $2 Trillion dollars a day. Currently it is hitting around $4.5 - $5 Trillion a day. The easiest way for them to reign in and re-instute the triangle is to put control back in favor of you guessed it the banks.

If they don't keep the general public poor and working pay check to pay check it will make the triangle no longer a triangle. It will become distorted and the banks and rich elite lose their status.

Don't be fooled. The dems nor the repubs have your back. This is a dog and pony show. Neither one are for you.

The $700 bil club should have proven this to you already.

Lower margin, forces you to put more money in and as we know most people lose it so doing this ='s more money from us into the banks, nothing is ever done to save us from ourselves.

the government intends to kick the small forex trader out of the market.
well, on the other side, an undeniably fact is that most of traders will lost money in the market whatever the leverage is.