Hi all,
This thread is dedied to finding a solution to enable US citizens to enjoy the same trading freedom as the rest of the civilized world. I am not sure how to achieve this, therefore I am hoping.
I have been trading offshore for many decades, but that is becoming more and more difficult as well as they're now shutting down payment chips and several of the very best choices have pulled from the US lately.
Our situation has become beyond ridiculous. I am not speaking of the leverage, no hedging or the FIFO rule. What I am talking of is:
1. No true ECN/DMA broker accessible. This is absurd. The NFA/CFTC are supposed to be the most demanding labs on the planet, however they allow the 3 market maker brokers to get away with basically everything they wish. Freezing platforms, rejected orders, arbitrary price spikes, etc.. After GBP crashed, my ECN broker did not skip a beat while OANDA froze their platforms. This was done so anybody could not reserve their profits while everybody got crushed. How can we have demanding regulations and they do not see the requirement to remove table desks and price manipulation. Where the other party controls the software we are trading with a conflict of interest.
2. Safeguard our funds. UK does, Australia does. Here in the US, the regulations prohibit it. If the brokers desired to segregate our funds, they're not allowed to. How does this protect the trader?
3. Permit us to exchange with these brokers who protect our funds. If they're so worried about protecting us, why do they not understand how much better off we'd be trading with a nicely broker in the united kingdom or Australia where our funds are secure than the choices presented here in the US.
4. Stock and metals indices. Can't I exchange gold or silver, the DAX or the DOW? Everybody else on earth can.
5. Going back to leverage, hedging and FIFO. Although these could be worked around. 200:1, although I just do it in situations, FIFO is just plain dumb and hedging, even 100:1 would suffice, it does allow you to recover positions when used.
The problem is we're sitting back and accepting it. I mean when your actually look at the horror stories behind the 3 choices here in the US, you have to be oblivious or addicted to be trading together.
So what can people do, open floor, everybody chime in, even non US residents, although it doesn't affect you, in case you have some great suggestions, let us understand!!
Looking forward to hearing from everybody.