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 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 ...'