Foreign Exchange Dealers Coalition (FXDC) Evaluates New CFTC Rules On New Website

FXDC Supports Registration Requirement, Strongly Opposes 10:1 Leverage Limit
On January 27, 2010, the Foreign Exchange Dealers Coalition (FXDC) launched its first website which focuses on the new CFTC forex proposals, particularly the new 10:1 leverage limit requirement.  FXDC formed in 2007 as an alliance of the largest U.S. forex dealers (GFT, Oanda, IBFX, Gain Capital, [...]

Forex Industry Overwhelmingly Against Lower Leverage

Backlash Against CFTC Proposed Forex Regulations
The CFTC proposed forex regulations have sparked a backlash against the U.S. regulatory agency.  The forex community has had plenty to say about the proposal which would decrease leverage from 100:1 (25:1 for non-majors) to 10:1.  This leverage reduction provision has been the focus of the community even as [...]

PFGBEST Press Release on New Forex Regulations

Forex Broker Supports CFTC But Not on Leverage Reduction
Last week forex broker BFGBEST was the first group to issue a press release on the leverage reduction component of the CFTC’s proposed retail forex regulations.  The following press release, reprinted in its entirety, can be found here.
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FOR IMMEDIATE RELEASE
PFGBEST MEDIA ADVISORY
CHICAGO, January 15, 2010
RE:   CFTC [...]

Forex Leverage Significantly Reduced by Proposed CFTC Regulations

Controversial New Forex Rules Upset Industry
(www.forexlawblog.com)
The 193 pages of proposed rules by the CFTC do much more than simply require managers to register as forex CTAs, CPOs or IBs - they also significantly reduce the amount of leverage which is available to ALL forex traders who trade through US based FCMs and RFEDs.  Obviously this [...]

Retail FOREX Registration Regulations Proposed

(www.forexregistration.com)
Forex Managers Required to be Registered Under New Regulations
The much anticipated off-exchange retail foreign currency regulations were proposed today by the CFTC.  The release announcing the publication in the Federal Register is reprinted below and can be found here.  We will be providing an overview of the major provisions shortly.
The full proposed rules are posted here: [...]