Please forgive me. I’ve been out of the loop for 3 years. I went offline right around when hedging was being restricted for US accounts. Now I am trying to get up to speed. I hear about some 10-1 restriction? What are most current US residents doing?
Can someone please summarize the events from then until now? And finally, the final current status? What are the current restrictions on US residents? Is hedging still outlawed? Can I get an offshore account? I love FXCM, can I get an fxcm uk account? Or are we still restricted from going offshore unless we find a non-us broker that just doesn’t care? And we are personally liable?
The max leverage for major currency pairs in the US is 50:1 and hedging is prohibited. These are CFTC regulations that apply to all US brokers. CFTC rules also state that only US-regulated brokers are allowed to offer forex trading to US residents now.
In regards to whether you would be personally liable for trading through a non-US broker, I can’t say. But you have a to question a non-US broker that purposely breaks US law by accepting US clients. What recourse would you have in the event of a dispute with such a company? :33: