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US trying to kill FX Industry

  • #1
  • First Post: Edited 9:58am Jan 30, 2012 8:33am | Edited 9:58am
NFA is trying to kill the US Forex market slowly, but the US Treasury could be a bigger threat. Read the full story on Forex Magnates:

http://forexmagnates.com/us-treasury...s-regulations/

I really feel sorry for the US traders. Even if the above mentioned will not happen, it's obvious they want to kill the FX market.

Quote
Should spot Forex not be exempted then it would mean a complete and total end of the American spot forex industry. While NFA tries to kill the industry blow by blow such a decision would completely annihilate the market. Going on an exchange would reduce the already very low margins of all forex brokers and would definitely make 8-10 of the remaining 12 or so brokers go out of business. Forex traders will in turn abandon the industry as well – as trading forex on an exchange is simply noncompetitive. Alternatively this would push many US forex traders to go back trading illegally with some foreign brokers who are happy to accept them.

Viva el capitalismo neoliberal!

Regards,
FX5050
  • #2
  • Jan 30, 2012 11:17am Jan 30, 2012 11:17am
Quote
as trading forex on an exchange is simply noncompetitive.

what does trading on an exchange mean?
  • #3
  • Jan 30, 2012 11:28am Jan 30, 2012 11:28am
Quoting deltatrade
what does trading on an exchange mean?
Exchanges are organized places to trade financial instruments. Like trading futures at the CME as an example. FX Spot is currently Over-the-counter, so there is no central marketplace. But I have no idea where FX Spot would be traded if they want to put it on an exchange.
  • #4
  • Jan 30, 2012 11:32am Jan 30, 2012 11:32am
Quoting Forex5050
Exchanges are organized places to trade financial instruments. Like trading futures at the CME as an example. FX Spot is currently Over-the-counter, so there is no central marketplace. But I have no idea where FX Spot would be traded if they want to put it on an exchange.
so why is it a bad thing ? will the spreads rise?
  • #5
  • Jan 30, 2012 12:33pm Jan 30, 2012 12:33pm
Quoting deltatrade
so why is it a bad thing ? will the spreads rise?
To quote Forex Magnates:

Quote
Going on an exchange would reduce the already very low margins of all forex brokers and would definitely make 8-10 of the remaining 12 or so brokers go out of business. Forex traders will in turn abandon the industry as well – as trading forex on an exchange is simply noncompetitive. Alternatively this would push many US forex traders to go back trading illegally with some foreign brokers who are happy to accept them.
  • #6
  • Feb 1, 2012 11:44am Feb 1, 2012 11:44am
It's all about power, they want all the money/power (money=power) and don't want some average joe making it big. Forex is one of the last things there is out there that isn't regulated out the ass. The more they can control it the more they can keep their elite club, elite.
https://www.huntingtrader.blog
  • #7
  • Last Post: Feb 1, 2012 12:29pm Feb 1, 2012 12:29pm
the futures mafia run US politics...spot forex is competing with their futures business.I can assure they will run spot forex out of US just as they did spot gold,spot silver,cfd's,online casinos.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
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