Yes FOR CLIENT'S OWN margin obligation!!! Of course the broker should be allowed another entity to hold the client's money for margin requirement if the client entered a leveraged and collateralized transaction directly with them. But Australian ...

Finally Casino Brokers are going to be Out!!!

That I dunno. You might have to consult a lawyer for it or maybe that's the whole purpose of stashing money "offshore".

CFDs Banned For US Citizens Inquiry

Well according to Frank-Dodd rule, it's NOT legal to do so but there is a reason WHY they are called "offshore" because they are in places where US government's hands have not been able to extend to, yet.

CFDs Banned For US Citizens Inquiry

Well we will see. One step at a time. Stock, futures, forwards, none of them were done over an exchange when they first started either.

Finally Casino Brokers are going to be Out!!!

So? I didn't say just because a firm is regulated that it shouldn't be gone. Any firms that trade against their clients and profit from their demise does needs to be gone as what this ESMA proposal is proposing. Under the current regulations, they ...

Finally Casino Brokers are going to be Out!!!

Like I said: Until this is confirmed for IB USA, if I were a US trader, I would still do some research and make preparations JUST IN CASE IB USA is still affected by this ban, I would be prepared to switch over at a moment's notice.

SEC bans Broker-Dealers from retail forex transactions

That will be a choice for us traders to make. Are we going to follow those brokers offshore knowing that they fuck with our trading and now they can fuck us even more now that they have moved into countries that have even more joke of regulations? ...

Finally Casino Brokers are going to be Out!!!

First of all, I NEVER said this ESMA proposal is all about b-booking brokers or removing them thereof. I have ALWAYS said that this proposal is about dealing with the issue of conflict of interest and lack of risk neutrality with some of the retail ...

Finally Casino Brokers are going to be Out!!!

Some good news guys: I just spoke with IB and they have confirmed this: IB will NOT be impacted by this stupid ban coming this July. They are aware of this notice but they are making structural changes in order that existing FX customers WILL be ...

SEC bans Broker-Dealers from retail forex transactions

I still don't believe that IB is affected by this SEC notice. I actually saw a comment somewhere that states that as long as IB does not act as a counterparty to your FX trades, they would still be allowed to offer FX brokerage services to retail ...

SEC bans Broker-Dealers from retail forex transactions

Section 742(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) prohibits a regulated financial institution from entering into certain foreign exchange transactions with retail customers (Retail Forex). Yeah but with ...

SEC bans Broker-Dealers from retail forex transactions

Well risk-neutrality should be something relatively simple to define. You sold your client directly $100K USD worth of FX contracts, then your risk of losing on that $100K USD worth of contract is directly dependent on your client's position going ...

Finally Casino Brokers are going to be Out!!!

No it says it cannot be a COUNTERYPARTY to leveraged FX transactions in retail FX unless you are solely registered with CFTC or a bank. Read it again. It does NOT say it cannot offer FX transactions. Read it again. Don't read the leaprate title. ...

SEC bans Broker-Dealers from retail forex transactions

WHY Interactive Brokers does not act as counterparties to leveraged retail FX transactions. They pass their trades directly onto LP's to execute and act just as a matching service in between. WHY would they be banned? I guess we will find out ...

SEC bans Broker-Dealers from retail forex transactions

This legislation does NOT affect those retail fx dealers aforementioned as this only affects retail FX dealers REGISTERED with SEC and NONE of the retail fx dealers as we know like FXCM, Gain, Oanda and etc. were ever registered with SEC; they are ...

SEC bans Broker-Dealers from retail forex transactions

Overall, the ESMA proposal is more about resolving the issue of conflict of interest when brokers trade against their clients than anything else. It's this issue of brokers not remaining risk-neutral when dealing with clients that they have this ...

Finally Casino Brokers are going to be Out!!!

Yes it is true. Some brokers already do it. They channel the trades to be cleared by the subsidiaries many times located in countries that has more lax regulations. Right now this is just a proposal. There is going to be a LOT of wrinkles to be ...

Finally Casino Brokers are going to be Out!!!

Depends on if your broker and it doesn't matter whether it's a "retail" fx broker or a "bigger" fx broker, is registered with a SPECIFIC financial compensation scheme. In the UK, it's called FSCS. In Canada, it's the CIPF and in Australia it's ...

Are your funds protected with retail fx brokers?