CFTC proposal on leverage in the US

http://forex12.zulutrade.com/ & http://exforexbroker.com/

CFTC proposal on leverage in the US.

The CFTC, government body which regulates the commodities industry (forex/futures). It is similar as to the SEC which regulates the US stock markets. The CFTC is proposing a massive decrease of leverage of 1 to 10 from 1 to 100. This proposal is towards retail traders, not institutions and investment banks that got us all into this mess in the first place.

If this ruling passes, most Forex brokers (and traders) will move abroad (including me). I am talking like at least 90% will flee and take their business abroad!!. The reason is because all the brokers abroad offer a minimum of 1:100 leverage. This will take away more tax revenues out of the US and into foreign countries, this also means more layoffs folks for the US.
Please research this issue and send your concerns to the CFTC. Once you do a little due diligence, you will see the massive impact it will have here in US. We need to fight this!!! Please help!

I wanted to add a statement from the CFTC Proposal regarding the "common practicess" for Forex Brokers to liquidate a traders open positions when their account balance goes to zero-

The CFTC states, "Under current practices, customer
positions are usually closed out once
the losses in an account exceed the
initial investment. However, if, for any
reason, the positions are not closed out
at a zero balance, the customer could be
liable for additional losses."


If any of you know of a Forex Broker in the USA where it is current policy to liquidate a clients position when the clients initial account balance goes to ZERO, let me know.

CFTC Proposed 1:10 Leverage (page 11 of 50 PDF): http://www.cftc.gov/ucm/groups/public...

Comments on Proposal Published on CFTC site: http://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/...

5 Stars for Mr. Wayne McDonell on being the first to post a youtube video about this issue. I have heard many great things about your boot camp as well. Thank you!

Tip for Forex Traders: To save thousands on commissions/ pip spread make sure you use an Introducing Forex Broker that offers REBATES!!. So who's paying the highest rebates? How about a $7 rebate per full lot traded ($0.70 for mini lot)--FXDD, FXCM, etc...

USA residents click here: http://www.cashbackforexusa.com/?aid=11995
Outside of USA click here: http://www.cashbackforex.com/?aid=11995

Risk Disclosure: There is a substantial risk of loss in futures and foreign exchange. Please read carefully all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.

Category:

Education

Tags:

• cftc leverage proposal
• nfa leverage
• 1 to 10 leverage