Trade futures on FX instead
--- In [email protected], "ozzyapeman" <zoopf...@...> wrote:
>
> Seems that FINRA is serious about reducing leverage for retail forex brokers
> all the way down to 1.5:1!
>
> In January they proposed the rule, and received 108 comments (107 of which
> were AGAINST the proposal). Now they have filed the rule and are awaiting
> approval:
>
> http://www.finra.org/Industry/Regul...gs/2009/P118864
>
> Under this proposed rule, you would need to put up $66,666 to trade a single
> $100k lot!
>
> Unfortunately, my broker of choice IB, for which I spent the whole of last
> year developing my autotrading platform, is regulated by FINRA. I just hope
> that if this rule is actually approved, that IB is able to quickly spin off
> their Forex biz into another entity that comes under NFA regulation, instead
> of FINRA regulation.
>
> And I would appeal to Tomasz to make IBC controller compatible with other,
> non FINRA, Forex brokers as well - FXCM, HotSpot, Oanda. We need more choices.
>
> Moving autotrading from IB would be a pain in the neck, with a whole new API
> to code around.
>
