Forex Brokers Switch on New NFA Rules

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submitted by finance_student to Forex [link] [comments]

If only we had a regulated market...

For those of you who pine for the government's approval for you to transact with other adults, here's an example of why regulated markets are shit:
https://www.nfa.futures.org/rulebook/rules.aspx?RuleID=SECTION%2011&Section=7
That is the link provided by Interactive Brokers to explain why they are asking if you are someone who, as apparently defined under federal law, "regularly enters into, makes a market in or holds itself out as a dealer in forex or retail commodity transactions."
The link goes to the website for a government agency I have never heard of, created by Congress in 1974, or 36 years B.P.D. (Before Pizza Day).
This agency I've never heard of requires that forex market makers maintain a minimum of $20 million in reserve capital and follow all sorts of intricate rules I don't even have the energy to scan at this moment.
Now, look, I get that a lot of capital sloshes around in financial markets. But if you want to talk about barriers to entry, $20 mil is pretty damn steep. Not to mention the lawyers, lobbyists, and flacks you have to pay to survive all the rules that are keeping you so safe. "Startup" is essentially a laughable concept in this context.
High barriers to entry protect established companies from competition, increasing costs and stifling innovation.
If you ask me, I will gladly take -- in a brand, spanking new, rapidly innovating industry -- the occasional ETH/USD flash crash, DAO hack, or Bitfinexed's "There's a Nightmare In My Closet" blog posts any day over a $20 million ante to sit down at the table.
It should definitely be illegal for Kraken to have a trading engine that shitty, though.
submitted by jstrong to BitcoinMarkets [link] [comments]

US NFA Forex Regulations, Forex Strategy for Maintaining High Leverage New Forex Trading Rules Proposal How The Best NFA and CFTC Regulated Forex Brokers In The ... How The Best NFA and CFTC Regulated Forex Brokers In The ... James Chen: How NFA new regulations could change the Broker industry? The 10-Minute Rule for Registration and Membership - NFA ... Rumored Buzz on Forex Transactions: Regulatory Guide - NFA ...

The new NFA rules are will be in effect in about two weeks. The anti-hedging rules implies new limits on trading software. It might cause many US traders to shift to foreign brokers or to search for a broker that doesn’t make things hard. It might trigger traders that aren’t fully satisfied to switch brokers. New CFTC and NFA Rules and Regulations. Author: ForexFraud Published: 28th February, 2018. New CFTC regulations. Copied from NFA Notice to Members I-07-14 National Futures Association Notice to Members I-07-14 March 6, 2007. Effective Date of Amendments to Forex Requirements. NFA has received notice that the Commodity Futures Trading Commission has approved changes to NFA Bylaws 306 and 1507 ... New NFA Rules and what they mean to you. Thread starter Pharaoh; Start date Apr 29, 2009; Tags pharaoh's forex articles nfa; 1; 2; 3; Next. 1 of 3 Go to page. Go. Next Last. Pharaoh Colonel. Messages 19,750. Apr 29, 2009 #1 The NFA Giveth and the NFA Taketh Away by Pharaoh By now, you've probably begun to hear about the new anti-hedging regulation the NFA is about to impose. This can be pretty ... The new NFA rules may affect your EA generated market orders to an ECN broker. Traders that use US based brokers or a direct pricing setup, commonly though incorrectly misnamed ECN, noticed that some of their Expert Advisors stopped functioning properly.. Previously, Expert Advisors sent a market order with the stop and take profit all attached to the order. NFA Compliance Rule 2-36 imposes a number of requirements on Forex Dealer Members (FDMs) regarding the manner in which they handle customer forex transactions, which are designed to ensure that an FDM acts honestly, fairly and in the best interests of its customers. NFA’s Business Conduct Committee has recently taken a number of disciplinary actions against FDMs for violations of this Rule ... Home » Best NFA Regulated Forex Brokers 2019 » Stop Loss policy under new NFA rules Stop Loss policy under new NFA rules The National Futures Association (NFA), our industry’s self regulatory organization in the United States, has informed all Forex Dealer Members, that it has adopted new Compliance Rule 2-43(b) regarding Forex trading. The new NFA rules try to prevent hedging by imposing the FIFO mechanism, which means that you need to close positions on the same currency pair in the order that they were opened. I believe that many traders will switch brokers on the new NFA rules. Of course, your opinions about the new NFA rules are most welcome.

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US NFA Forex Regulations, Forex Strategy for Maintaining High Leverage

https://rebrand.ly/BFXFAST Get More Info Now Rumored Buzz on Forex Transactions: Regulatory Guide - NFA , Get FOREX BUSINESS SIGNUPS What is Conversion Pros ... 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 ... James also comments, in an exclusive interview recorded at the FXstreet.com's International Traders Conference 2009 in Barcelona, how the new NFA regulations have changed the actual broker ... The 10-Minute Rule for Registration and Membership - NFA - YouTube. The 10-Minute Rule for Registration and Membership - NFA. Watch later. Stephen Story discusses recent NFA regulations affecting the US Forex market. He discusses forex strategy and the forex systems that are needed to continue trading with success, with high leverage ... More Tips Here: https://bit.ly/2ZUAdzl - How The Best NFA and CFTC Regulated Forex Brokers In The USA To identify if a forex broker is CFTC-registered and re... Check Out This Info: https://bit.ly/3jLr9F8 - How The Best NFA and CFTC Regulated Forex Brokers In The USA clients; Desktop platform too intricate for inexpe...

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