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More Than 1:50 for US based Traders & Investors
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Member Since May 10, 2012 71 posts
LK Wong (lkwong)
Jun 14 2012 at 07:26
Hi Everyone,
Of late I've had a couple of queries regarding my trading system, and possibly trading for investors. So heres the question : I hear that there are laws that prevent US residents from holding spot forex accounts offshore, and at the same time limiting brokers to provide leverage only up to 1:50. What are my options if my system requires 1:100 leverage, but my potential investors are residing in the US ? Any thoughts, suggestions, work arounds are welcomed. -LK The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run. |
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Member Since May 23, 2012 62 posts
Mevo
Jun 14 2012 at 09:52
Hi,
If I'm not wrong, in fact there isn't anything preventing US residents to open high leveraged forex accounts, offshore if they want. The CFTC rules say that BROKERS not registered with them, with THEIR rules (1:50, FIFO, no Hedge) are not allowed to accept US residents or something like that, and they regularly sue some brokers about this. Sad to see how the 'land of the free' is now acting ;( About solutions, we can talk about this in private. Mevo. |
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Member Since May 10, 2012 71 posts
LK Wong (lkwong)
Jun 14 2012 at 18:17
Hi Mevo,
Thanks for the info. This is quite sad as the US govt is now pretty much telling you what you can and cannot do with your own money. Its also unfortunate that I may have just lost a potential investor. :( I didn't think much about it when the news broke a few years back, but all the commotion that the traders were making back then, I only understand now. -LK The YELLOW line should always be above the RED line. It means you've cut your losses, and let your winners run. |
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