To use chat, please login.
Back to contacts

10 to 1 leverage suggestion by the CFTC - a death to the US forex market?

Elkart
Elkart
Jan 28 2010 at 14:30
941 posts
I agree, retail forex is such a small portion of the equation. I don't know why they bother actually.

pc8multifx (pc8multifx)
Jan 28 2010 at 14:32
879 posts

michigansurveys posted:
    Everyone thinks that they get thousands of emails every day. Did you send one? Do you know anyone that has? They cannot get those thousands of emails if you do not send them. However naive an idea it may be, they are supposed to catalog and post each one here https://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/2010/10-001.html Right now I only count 69 comments. If you really think it is a bad idea, take two minutes and send an email. It won't cost you anything to send it, but not sending in your comments may cost you a great deal more down the road.


I droped them a mail on January 17th, regards the leverage issue. Still not published..... I think the deal is already done!

Adios USA !😎

mettall
Jan 28 2010 at 20:28
27 posts
naaaah...
OANDA are US broker. here is a part of my chat log with the support:

ME: are you gonna move all accounts to UK or somewhere else?
ME: you are US broker, right?
OANDA: We are US broker, and we don't have any plan yet on moving accounts to somwhere else.


They are not scared of CFTC...

pc8multifx (pc8multifx)
Jan 28 2010 at 20:35
879 posts

mettall posted:
    naaaah...
OANDA are US broker. here is a part of my chat log with the support:

ME: are you gonna move all accounts to UK or somewhere else?
ME: you are US broker, right?
OANDA: We are US broker, and we don't have any plan yet on moving accounts to somwhere else.


They are not scared of CFTC...


They have no plan B ???😲

AussieTrader
michigansurveys
Jan 28 2010 at 23:51
31 posts
I totally agree that all will move out of US brokers. I did when they started the FIFO rules. Idiots. What I am really fearful of is that they just wont stop protecting us small retail forex traders. You know, just like seat belts tobacco, etc... What I fear most is that they will somehow try to keep US traders from trading offshore. I don't know how they could do it, they cant stop online gambling now, but big brother is resourcefull and stupid enough to try.

Elkart
Elkart
Jan 29 2010 at 01:21
941 posts
MS

Errr - tried to get an account recently? We can't take US clients as we can't find decent brokers that will take them. And then there's the bit that any broker who takes a US client must be CFTC registered.

This is the end forex trading for you I'm afraid, unless you're happy with 10:1.

PipCollector
Jan 29 2010 at 12:07
92 posts

michigansurveys posted:
What I fear most is that they will somehow try to keep US traders from trading offshore. I don't know how they could do it, they cant stop online gambling now, but big brother is resourcefull and stupid enough to try.


They're actually already doing it, aren't they? There are a lot of brokers who do not accept US client, which I assume the NFA/CFTC are responsible for.

Patience is a virtue.
5abi (5abi)
Feb 01 2010 at 02:19
7 posts
this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.

pc8multifx (pc8multifx)
Feb 01 2010 at 03:37
879 posts

5abi posted:
    this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.



Show us this statistic !

5abi (5abi)
Feb 01 2010 at 04:08
7 posts
sorry I used the wrong word 'Proven' as I caanot proivde a scientific research.

I have been influenced by some very good traders that have stated this fact over and over again. Also, I have been trading for quite some time now and have not used a leverage higher than 1:5 or 1:6 tops- that has worked well for me. When I use higher leverage, my results are just no better. and have to work harder (and longer) to come out of the draw down.


pc8multifx posted:
    
5abi posted:
    this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.



Show us this statistic !

Topic is locked