I have the U.S. commodity futures trading Commission's (CFTC) cover have been efforts to renew the regulatory structure that governs Forex, since it was introduced this year. On August 30 published the CFTC formally "final rules on off-Exchange retail foreign currency transactions." "The rules to implement the provisions of the Wall Street reform the Dodd-Frank Consumer Protection Act and the food, conservation and Energy Act of 2008, which together provide the CFTC register with broad authority and regulate entities as counterparties to or intermediate, retail transactions serve foreign exchange (Forex) want."
Not only the CFTC has clearly defined its authority for the primary regulator of retail Forex kept, but it has created specific provisions. Foremost among these is the limit to 50: 1 for the major currency pairs and 20: 1 leverage for "other retail Forex transactions." [It is not currently clear which specific currency pairs as major classified]. Keep in mind that the original proposal (which, together with my approval, violent protest generated) called a decline of leverage to 10: 1. Due to negative feedback from traders and brokers who attributed and argues that it offshore industry move malicious political motives, changes the CFTC would converted back down and only a modest decline in leverage.However, it is important to note that Futures Association (NFA) as well as the individual broker of discretion in less than 50: 1 leverage limits to setzen.Es to national undoubtedly some opposition from dealers, but I think we all agree that the new rule is a fair compromise.
As for the requirement that distributors would move their accounts offshore / be this will be largely irrelevant, since all brokerages will be required regardless of their nationality, to register with the CFTC and his rules/supervision.Of course those traders who are so inclined, will find "illegally" non-registered brokers by shifting the Fund still a way to circumvent the rules, but do so at your own risk and have no recourse in the case of Betrug.Wie Forbes mentioned, seems "it these new rules American Retail Forex offshore, to CFTC rules to circumvent trade will stop." "This trend that picked up the pace in the last years and it must undo may quickly."
Brokerages need as a Futures Commission merchants (FCMs) or Retail Forex traders (RFEDs) registrieren.Diese institutions are required which may preserve capital of $ 20 million plus 5% of the amount, net which liabilities to Retail Forex customers exceed $ 10 million."While this rule fires the barriers to entry for potential Forex-start-up brokerages, it will protect of consumers against broker bankruptcy.Furthermore, "who solicit orders, exercise discretionary trading authority or operate pools on retail Forex will also be needed to register either as introduction, brokers, commodity trading advisor, commodity pool operators (as appropriate) or as related parties customers."
A final rule change worth mentioning is quite interesting: brokerages must "disclose quarterly the percentage of not discretionary accounts, which realized a profit and to keep and to make available the records from this calculation."This calculation is useful both in and of itself, and also considerable discrepancies between competing brokers to identify sein.Zum first time we will be able to see whether Forex trading is currently profitable (i.e. whether those who benefit are in the majority or minority) and whether/how this profitability metric that changes over time in response to specific market conditions.
The new rules go on 18.October in force.
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