Comments on: NFA admits that funds are flowing out of the US http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/ Forex Magnates is the home of the Forex Elite providing up to date industry news coverage, commentary and scoops Sun, 12 Feb 2012 11:10:14 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bill http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/#comment-5073 Bill Fri, 30 Oct 2009 22:08:46 +0000 http://forexmagnates.com/?p=2321#comment-5073 Avoiding the NFA by avoiding US-based brokers is easy enough, but I fear the other shoe has yet to drop -- punitive tax policy changes. What would be the most effective way to prevent US traders from seeking a free market in offshore Forex trading? A tax policy that penalized US citizens for trading in offshore markets without going through an NFA-regulated intermediary. I don't know that this will happen, but they will either have to accept the exodus, or try to make it somehow difficult, expensive, or actually illegal to trade Forex in a free-trading, offshore marketplace. I hope they will realize that they have made a mistake and change the rule, but I am not optimistic. So, bye bye NFA, hello world! Bill Avoiding the NFA by avoiding US-based brokers is easy enough, but I fear the other shoe has yet to drop — punitive tax policy changes. What would be the most effective way to prevent US traders from seeking a free market in offshore Forex trading? A tax policy that penalized US citizens for trading in offshore markets without going through an NFA-regulated intermediary.

I don’t know that this will happen, but they will either have to accept the exodus, or try to make it somehow difficult, expensive, or actually illegal to trade Forex in a free-trading, offshore marketplace.

I hope they will realize that they have made a mistake and change the rule, but I am not optimistic. So, bye bye NFA, hello world!

Bill

]]> By: Stanley http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/#comment-5072 Stanley Tue, 27 Oct 2009 14:29:49 +0000 http://forexmagnates.com/?p=2321#comment-5072 Wayne is right on. The "Exchange" has many old friends in Washington - having paid millions in lobbying efforts - and have continually lost market share from forex dealers. Wayne is right on. The “Exchange” has many old friends in Washington – having paid millions in lobbying efforts – and have continually lost market share from forex dealers.

]]> By: RENE http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/#comment-5071 RENE Tue, 27 Oct 2009 06:20:01 +0000 http://forexmagnates.com/?p=2321#comment-5071 I CAN NOT BELIEVE THIS SH**. IS THERE WE CAN DO TO CHANGE THIS STUPID RULE? WE CAN NOT TRADE THE DEPOSIT "MARGIN" ANYWAY THE DEALERS WOULD NOT ALLOW IT. I STILL DO NOT SEE ANY BENEFIT ON THE LAST CHANGE THEY MADE. THEY ARE JUST COMPLICATING OUR LIFE. WHY CAN THEY JUST MAKE CHANGES LIKE THAT? THERE HAS GOT TO BE SOMETHING WE AS TRADER CAN DO TO STOP THIS NON-SENSE. WHAT NEXT? I CAN NOT BELIEVE THIS SH**. IS THERE WE CAN DO TO CHANGE THIS STUPID RULE? WE CAN NOT TRADE THE DEPOSIT “MARGIN” ANYWAY THE DEALERS WOULD NOT ALLOW IT. I STILL DO NOT SEE ANY BENEFIT ON THE LAST CHANGE THEY MADE. THEY ARE JUST COMPLICATING OUR LIFE. WHY CAN THEY JUST MAKE CHANGES LIKE THAT? THERE HAS GOT TO BE SOMETHING WE AS TRADER CAN DO TO STOP THIS NON-SENSE. WHAT NEXT?

]]> By: Michael Greenberg http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/#comment-5070 Michael Greenberg Mon, 26 Oct 2009 19:27:33 +0000 http://forexmagnates.com/?p=2321#comment-5070 Wayne, nice one. This is exactly what many in the retail forex market believe in... Wayne, nice one. This is exactly what many in the retail forex market believe in…

]]> By: Wayne http://forexmagnates.com/nfa-admits-that-funds-are-flowing-out-of-the-us/#comment-5069 Wayne Mon, 26 Oct 2009 18:26:12 +0000 http://forexmagnates.com/?p=2321#comment-5069 I've got a guess: The CME wants in on the retail FX market. In order to be competitive, they have to make FX trading as conservative as futures trading. I’ve got a guess: The CME wants in on the retail FX market. In order to be competitive, they have to make FX trading as conservative as futures trading.

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