Finra wants to regulate forex broker leverage to 1.5-1
What's amusing is that you'd assume people who post these announcements properly lay out the actual problems with such a proposal.
For one- did you bother reading who Finra Regulates? Probably not- if you're with a broker who's only service is FOREX - Finra does not apply.
I'm starting to wonder if people here read sometimes.
To all the Forex traders:
I have recieved this notification from FINRA who is "The Financial Industry Regulatory Authority (FINRA), is the largest non-governmental regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 5,000 brokerage firms, about 172,000 branch offices and approximately 663,000 registered securities representatives."
Now get this. They are proposing that Forex brokers limit the leverage they offer to 1.5:1. They claim that clients accounts could be wiped out with insufficient capital because of the leveraging.
Well my answer is that if any trader gets their account wiped out then they shouldn't be trading OTC Currencies. Second, education, practice, demo accounts are what you need to gain experience in order to survive and make progress in your trading successes. The Forex is not a casino, although
I would hazard a guess that there are those who treat is as such and if they do must be prepared to pay the consequences.
And even in the worst case scenario, USE A STOP- 10, 20, 30 pips. Whatever-thats what a stop is-keeps you from getting creamed. The market doesn't care if you win or lose, so keep your losses small.
At any rate, I believe there is sufficient protection for the trader to manage his capital properly even with 100:1 leverage.
I would like to see what other traders have to say about the attached PDF with the proposed regulations. They are asking for input from the public, so if this threatens our leverage we should all write to them with our comments.If you have some correct brokers, you couldn't have a 400:1 leverage ...
Just telling ...
So people on here only trade forex do they?
Why don't you apply some of your thinking form your other post I'm getting really tired of you and your nonsense your energy would be better served........ Oh wait I'm going off on a tangent. You really need a doctor something is really wrong with you.
What's amusing is that you'd assume people who post these announcements properly lay out the actual problems with such a proposal.
For one- did you bother reading who Finra Regulates? Probably not- if you're with a broker who's only service is FOREX - Finra does not apply.
I'm starting to wonder if people here read sometimes.Oh really?
Would you like a eye drops for your tired eyes? Do you even know what the exceptions are to this rule? Or do you also fall under the category of being unable to read?
They generally trade equities.
How many MT4 Brokers do you know trade equities.
BTW, if I wanted advice from a google doctor- i'd use the friendly search toolbar provided above on Forex-Tsd.
For your tired fingers and your tired eyes.
"Created in July 2007 through the consolidation of NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange, FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services.
FINRA touches virtually every aspect of the securities business—from registering and educating industry participants to examining securities firms; writing rules; enforcing those rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms. It also performs market regulation under contract for The NASDAQ Stock Market, the American Stock Exchange, the International Securities Exchange and the Chicago Climate Exchange."
So people on here only use MT4 Brokers ? You really make me laugh I see why I still come to this forum still. You're making lots of assumptions here google doctor.....? Thanks for the TITLE.
Google Doctor is a phrase coined by actual doctors for people like you who assume conditions based on the wide usage of the internet for information.
It's not a compliment.
But hey, let the Turtles Method run well with you and your FXPro account. Genius.
So people on here only use MT4 Brokers ? You really make me laugh I see why I still come to this forum still. You're making lots of assumptions here google doctor.....? Thanks for the TITLE.
Besides, I won't waste my energy on a person who's fundamentals concluded on this.
Be very careful trading gold. If your central bank is steadily selling off its gold stock and price continue to go up.........
and I don't want to hear about a supply demand debate.
Don't be left holding the bag. Do your own research. The Gold stock is less than it was in 1985 and that is a fact.You're an idiot.
You really have half a brain as I thought and that' it from me. Have a wonderful day.
Short gold and let me know how it goes.
Buy some tear drops, you might need it when it continues to move.
You really have half a brain as I thought and that' it from me. Have a wonderful day.
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To all the Forex traders:
I have recieved this notification from FINRA who is "The Financial Industry Regulatory Authority (FINRA), is the largest non-governmental regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 5,000 brokerage firms, about 172,000 branch offices and approximately 663,000 registered securities representatives."
Now get this. They are proposing that Forex brokers limit the leverage they offer to 1.5:1. They claim that clients accounts could be wiped out with insufficient capital because of the leveraging.
Well my answer is that if any trader gets their account wiped out then they shouldn't be trading OTC Currencies. Second, education, practice, demo accounts are what you need to gain experience in order to survive and make progress in your trading successes. The Forex is not a casino, although
I would hazard a guess that there are those who treat is as such and if they do must be prepared to pay the consequences.
And even in the worst case scenario, USE A STOP- 10, 20, 30 pips. Whatever-thats what a stop is-keeps you from getting creamed. The market doesn't care if you win or lose, so keep your losses small.
At any rate, I believe there is sufficient protection for the trader to manage his capital properly even with 100:1 leverage.
I would like to see what other traders have to say about the attached PDF with the proposed regulations. They are asking for input from the public, so if this threatens our leverage we should all write to them with our comments.