New Forex Trading Rules Proposal

www.4xwins.com/NFA just released information about The Commodity Futures Trading Commission (CFTC) is proposing to adopt in 2010, a comprehensive regulatory new scheme to implement the CFTC reauthorization Act of 2008 with respect to transactions in retail forex in the US. Thus, if you now trade or plan to trade forex with a broker in the US, these rule changes will impact you, and if look at the changes, it not be in your favor at all.

The Commodity Exchange Act generally provides that the Commission's jurisdiction extends to contracts of sale of a option future and to certain leveraged margined contracts in forex that are offered to retail customers like you and I. The Commission submitted this latest proposal on January 20, 2009 with a anti-forex trader scheme that would put in place requirements for, among other things, additional new registration process, additional disclosure and record keeping by the brokers, additional financial reporting, a new minimum capital for forex traders (10:1 margin in other words), and other operational standards, based on both the CFTC's existing regulations for commodity interest transactions, as well as rules for the National Futures Association (NFA). NFA in the US enforces the forex rules with respect to retail forex transactions offered by NFA's members which is another requirement and not subject to debate. Additionally, the Proposal would amend existing regulations as needed to clarify broker application to and inclusion in the new regulatory scheme for retail forex.

We have reviewed the long 132-page proposal and if you wish to visit our web site at www.4xwins.com/NFA, we can provide you with details of the most important issues that you should be aware of in the event these new rules take effect in 2010. Also, we will provide you with the address information to voice your opinions before the March 22, 2010 deadline.

Category:

News & Politics

Tags:

• forex
• NFA
• CFTC
• Commodity
• Exhcange
• Act
• Commondity
• Futures
• Trading
• Commission

[4XWINs]

It sure will put some restraints on trading forex in the US. No doubt a great many folks will simply move to the UK to do their trading.

[timwharton44]

if this happens can you live in us and still trade on a uk platform

[ILuvTrading]

4xWins- take a look at my video response on the CFTC leverage proposal. tks...Virgil

[CurrencyBlackBook]

This is horrible news! I hope this doesn't happen!