Quote:
Originally Posted by geekguy  =-=-=-=-=- Comments from another message board -=-=-=-
Dear Lawrence, Asaf also commented on "required to house $1000 in the margin in order to trade 1 single mini" "Everyone is focused on the 10:1 leverage and are missing the big change:
"Subject to certain exceptions (e.g., for certain regulated financial intermediaries not under the Commission’s jurisdiction as established in the CRA), the Proposal would require persons offering to be or acting as counterparties to retail forex transactions but not primarily or substantially engaged in the exchange traded futures business, to register as retail foreign exchange dealers (“RFEDs”) with the CFTC. Registered futures commission merchants (“FCMs”) that are “primarily or substantially” (as defined in the Proposal) engaged in the activities set forth in the Act’s definition of an FCM would be permitted to engage in retail forex transactions without also registering as RFEDs."
This means that if a foreign broker wants to offer trading services to US customer he needs to be registered by the CFTC which means it needs to comply to the rest of the restrictions - so if you were thinking - "I will just open an account with a Foreign broker ..." Think again because these brokers will not accept US customers after this bill has passed.
-- Asaf." Click here to see more. Happy trading,
The Currensee Team
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This is an insane world 
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Just took a look at Alpari UK's live account creation page and they clearly say the US private citizens can't oen accoutn with them.
The CFTC B.S. is a clear attempt at shutting down US citizens from retail Forex trading and I believe the investment banks are clearly behind this. So not only did we bail them out but they asked that the Gov shut door on ppl going to Forex trading.
Guess I better brush up on 'God Save the Queen' because if this thing becomes law... my family and I will strongly consider leaving the US.