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50:1 Leverage - CFTC Final Rules Release
On August 30, 2010 CFTC has released its Final Rules Regarding Retail Forex Transactions.
(You'll be also able to read the full Release below).
Concerning the leverage rules, quote: "Leverage in retail forex customer accounts will be subject to a security deposit requirement to be set by the National Futures Association within limits provided by the Commission". According to NFA instead of 10:1 leverage cut in the proposed earlier rules, the new 50:1 leverage will be implemented and become effective October 18th, 2010. This leverage cut affects all retail clients in US, for whom Forex leverage will be limited to 50:1 on major currencies, and 20:1 on minors. Also, from October 18th 2010 as the the Dodd-Frank Wall Street Reform and Consumer Protection Act come into force, only United States financial institutions will be permitted to act as counter-parties to off-exchange retail Forex transactions for US residents and citizens. Following these regulations non-US brokers won't be able to accept US citizens any more. For traders who are not American citizens, but currently live in US, to open an account they'll need to provide an ID and address proof from their country of citizenship. As well as all transfers to/from live Forex accounts have to be made from non-US banks.  Copyright © 2008 — 2013 | 100forexbrokers.com | All rights reserved
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Popular questions:How to choose a Forex broker? New NFA rules:
New PollHow many brokers have you changed during the 1st year of Live trading?
1
13%
2
16%
3-4
22%
5 or more
19%
I stayed with my fisrt broker
31%
Total votes: 1014
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trader
September 1, 2010But US citizens will still be able to open accounts overseas, am I right about this?
BrokerGuru
September 1, 2010In fact, CFTC was looking to do something about it in the nearest future... So far no details have been released.
Thomas
September 2, 2010Hey guys, here is what I've received from IBFX today:
"As of this afternoon, the CFTC has ruled that the provisions in their new ruling preventing US citizens from trading with foreign brokers will not be enforced until July 21, 2011. Because of this extended time frame IBFX Australia will be accepting applications from US Citizens next week".
Thomas
trader
September 5, 2010i think the investors have the freedom to choose the leverage they need in his strategy
and of course if the investor is 18 or 21 years above it means he knows what he is doing so what is this ... rules ?
trader
October 6, 2010I am switching to 1pipfix.com as I get keep using 500 leverage
trader
October 18, 2010TRADER
HER A LIST OF BROKERS THAT WILL TAKE US TRADER
AAAFX
Arab Financial Brokers
Askobid.com
Broco
Dukascopy
E-global
FBS
Fin FX
Forex4You
Forex FS - Australia
FOREX MMCIS
FXCBS
FXCompany
FXM Trade
FXOpen
GotMoneyFX
Instaforex
InvestTechFX - Canada
InvestorEurope.com
MF Financial (mffx.com) - UK
Marketiva
PrimeBank Forex
RVMarkets
Tadawul
United World Capital
BrokerGuru
October 19, 2010Starting October 18, 2010, the CFTC is requiring all foreign Forex brokers to repatriate U.S. residents back to a CFTC registered/NFA member Forex broker.
Foreign Brokers who do not comply, including offshore Forex brokers, will be in direct violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and subject to strict penalties.
US residents who held accounts with NFA regulated brokers but used other branches: UK, Australia and other, would have their accounts transferred to the US branch, where they'll be trading with 50:1 leverage.
Ken
November 2, 2010Is it illegal for a US client to use a foreign broker?
Ken
trader
November 3, 2010No, it's not.
trader
January 1, 2011Where fundamentally is the problem with 50:1 leverage isnt that 10 times the liquidity
of a regular 500:1 ?
so if you are a little one you might not like that
or else one might only need 10 times what he/she regularly trade?
narrowing that to the headeacke of needing more to do the same,
the same profit AND THE SAME LOSS,
Why not?!
trader
March 13, 2011you got it all wrong, it's actually 10 times less
with 50:1 you stand to win or loose 50 times the change in price,
in other words, if you go long at the price of 10 dollars
and the price rise to 11 dollars you have won 1 dollar times 50,
and at the same time your margin is 1 for 50, meaning you only need 1 to buy 50
ex: if you have 1000 dollars in your acount you could trade contracts worth 50000
500:1 is obviously better, for the same 1000 you can buy contracts worth 500 000
and if that go up 1 dollar you won that 500 times,
but ofcource this go both ways, so if it goes down you will loose 500 times
and for the same 1000 you can buy contracts worth 500000 and you only need 1000
for security margin, 50:1 is NOT popular amongst the traders because they stand to win less
and they have less buying power
trader
May 6, 2011Where in the constitution does it give these idiots in congress the power to control what we do with our own funds. Oh, I forgot, we are only using their funds since they own all of everything. Does this sound like Communism to anyone else?
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