Proposed NFA Capital Requirement - page 48
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Offshore brokers
Do you think there is going to be any problems using brakers like FXDD which are not registered with the NFA? Can they force us out of using these brokers?
Excuse me for interuppting...
Why would you want to? ... is a question that comes to me?
Anybody using a firm in non-compliance is begging for trouble accessing their funds... This goes for any dealer located in the United States.
If FXDD gets a cease and desist order to operate and their bank accounts are seized you may or may never get back all of your money...Were you forced...or...?
ES
Do you think there is going to be any problems using brakers like FXDD which are not registered with the NFA? Can they force us out of using these brokers?
Excuse me for interuppting...
Why would you want to? ... is a question that comes to me?
Anybody using a firm in non-compliance is begging for trouble accessing their funds... This goes for any dealer located in the United States.
If FXDD gets a cease and desist order to operate and their bank accounts are seized you may or may never get back all of your money...Were you forced...or...?
ESAgree. If a broker isn't licensed, DON'T TRADE WITH THEM!
Does a FCM that offers 400:1 leverage require more capital than a FCM that offers 200:1...or 100:1.....?
ES
Does a FCM that offers 400:1 leverage require more capital than a FCM that offers 200:1...or 100:1.....? ES
yes. if a broker offers more than 100:1 leverage must have $30 million in capital
The first is fine but the second
it would be a problem if we can't hedge our trades
Then what is a hedge trade to them ? any buy and any sell on the same pair ? or will it be an equal lot sizes from buy and sell on the same pair?
The result of second rule will be seen on the correlation trades as well ... so its going to turn the trading rules upside down, not just for us as small traders but also for the big systems on the Central banks and the brokers... as they are very dependable on hedge trades
What if you have two accounts with the same dealer? ...and you have one EA on each and it just so happens you end up with a long and a short on the same pair?....same dealer different EA's and MT4's...
ES