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CFTC regs trading systems
Oct 11, 2010 at 11:53
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5 Replies
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
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
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 ..."
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.
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