A sad day to be an American...
USA is lumped together by the forex broker, with all the most isolated countries in the world. That's how bad U.S. forex regulation is.
here is a picture: https://imagebin.org/201498
here is a picture: https://imagebin.org/201498
go with the flow; just be on the right end of the wave
The Last Broker didn't have any problems to send a cash equivalent to US Based Contestants, the reason this one won't send a cash equivalent is because,
-besides the fact that the rules state the prize is a funded account and therefore a 'US Citizen' is not eligible to open the ACCOUNT (NOT from RECEIVING A PRIZE!)-
the dirty little secret is, the broker does not want you to have the chance to KEEP the money because by giving you a funded account, they are betting that you will lose it all. so far a WIN WIN for the broker sponsoring this contest, and LOSE LOSE for myfxbook and the contestants.
Yes although I am sure nobody cares about the specifics because after all it is the BIGGEST PRIZE EVER, it's just too bad that probably nobody will get to keep it.
-besides the fact that the rules state the prize is a funded account and therefore a 'US Citizen' is not eligible to open the ACCOUNT (NOT from RECEIVING A PRIZE!)-
the dirty little secret is, the broker does not want you to have the chance to KEEP the money because by giving you a funded account, they are betting that you will lose it all. so far a WIN WIN for the broker sponsoring this contest, and LOSE LOSE for myfxbook and the contestants.
Yes although I am sure nobody cares about the specifics because after all it is the BIGGEST PRIZE EVER, it's just too bad that probably nobody will get to keep it.
go with the flow; just be on the right end of the wave
horse1bun posted:
the dirty little secret is, the broker does not want you to have the chance to KEEP the money because by giving you a funded account, they are betting that you will lose it all.
Yup, this is spot-on. But although U.S. regulations are a pain the butt, sometimes they're good at keeping U.S. brokers in line as far as your money etc. It's harder for a broker in the USA to scam clients.
Yes, disappointing that U.S. citizens aren't eligible for the contest, but that gives us more time to focus on real trading 😉
haha thanks splexin. And yea US Regulation is finally forcing brokers to give positive slippage as equally as negative slippage. The Result? A lot less slippage....
BTW when I said wannabe-buffet 'mentors' I wasn't talking about you. You know your stuff.
ALSO, in hindsight, it looks like the surge in heavy metals was the market pricing in the announcement of more QE, but bernanke can't do that until he first says it won't happen, stocks crash, and then they will begging for QE. Just another roller coaster ride.
BTW when I said wannabe-buffet 'mentors' I wasn't talking about you. You know your stuff.
ALSO, in hindsight, it looks like the surge in heavy metals was the market pricing in the announcement of more QE, but bernanke can't do that until he first says it won't happen, stocks crash, and then they will begging for QE. Just another roller coaster ride.
go with the flow; just be on the right end of the wave
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