Rating: Empty Star Empty Star Empty Star Empty Star Empty Star
CFTC regs trading systems
ApacheDan

Member Since Feb 24, 2010  9 posts Dan (ApacheDan) Oct 11 2010 at 11:53
As you know, new regulations take place October 18th, meaning that as a US Citizen, my foreign forex accounts will be gone. I looked around and rather than keep trying to find some broker offshore, I will open an account in the US, probably with IBFX. It is just something that I will have to live with and already started testing demos.

That said, the new forex game calls for leverage of 50:1 and fifo rules. Does anybody knows of a manual or semi-manual system that has a good chance of being successful, given the new rules? Thanks. Dan

winsor

Member Since Jun 23, 2010  302 posts Winsor Hoang (www.ctsforex.com) (winsor) Oct 12 2010 at 00:39
IBFX has opened an office in Australia; hence, all your problems are fixed.

ApacheDan

Member Since Feb 24, 2010  9 posts Dan (ApacheDan) Oct 12 2010 at 01:26

winsor posted:
    IBFX has opened an office in Australia; hence, all your problems are fixed.


I seriously doubt it....here's an answer from another forum;

'... Thank you for submitting your application. We have reviewed your application and determined we are unable to approve an account for you because you are a citizen or resident of the United States. The Dodd-Frank Act prohibits IBFX Australia from holding accounts for customers who are citizens or residents of the United States. As an alternative, you may open an account with Interbank FX, our United States subsidiary. Please visit www.ibfx.com for more details on how to apply for an account. We apologize for any inconvenience this may cause. Kind regards, Accounts Department ...'


winsor

Member Since Jun 23, 2010  302 posts Winsor Hoang (www.ctsforex.com) (winsor) Oct 12 2010 at 01:31
Thanks Dan for the info. I was not aware of it. Maybe you can go with MIGBankfx, since all of my US clients are with them.

ApacheDan

Member Since Feb 24, 2010  9 posts Dan (ApacheDan) Oct 12 2010 at 02:01

winsor posted:
    Thanks Dan for the info. I was not aware of it. Maybe you can go with MIGBankfx, since all of my US clients are with them.


Thanks Winsor...I'm starting to review eForex from Panama; since I got dual citizenship. Offer 400:1 leverage and micro accounts. Not bad.

ProtecEA

Member Since Feb 06, 2010  24 posts ProtecEA Oct 13 2010 at 18:23
InstaUK.com offer upto 1,000:1 leverage and nano accounts as well as micro if it helps. cheers

Please login to comment.
BOK Manufacturing BSI (2h 8min)
US Dollar Reaches Higher Ground as Consu...(18 min ago)
EURUSD 1.34078 GBPUSD 1.69428
USDJPY 102.121 USDCAD 1.08521
FxPro
Tools Community Reviews Platform Company Support
Economic Calendar Community Brokers Widgets About FAQ
Forex Market Systems Expert Advisors Features Blog Help
Forex Volatility Most Popular Systems Signal Providers API Twitter Contact Us
Forex Correlation Strategies VPS Services Mobile Facebook Report A Bug!
Forex Broker Spreads Contests EA Programming Translations    
Forex Broker Quotes Forex Charts PAMM Brokers RSS    
Forex Broker Swaps Community Outlook Rebate Programs      
Streaming Forex News   Trading Platforms      
Forex Broker Volume          
COT Data          
Liquidity          

Site Map  |   Terms & Conditions  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.