Hi Steve,Hello Traders,
I just exited an online chat with customer service at FXCM-UK where I asked if US customers will be relocated to US brokers as of 10/18/10. The response I received was yes definitley the accounts will be moved to a US broker on that date. I also asked if open positions will be closed by the broker as an element in the transition or will the transition be shown as a change in leverage only. I was not given a clear answer. The rep did not know. Apparently their legal department is still trying to sort to the bottom of what all of this garbage is really about and what it means for their customers before they need to advise os of these horrific changes. This is another point I brought up as to why there are no communications from them informing me of this monster in waiting. I was told they will when they have all of the information on it. It is amazing with regard to how many email lists I belong to with brokers and IB's and I have not received a single drop of information from any of them. Not a single one of them sent me any notifications at all about 10/18. That's all I can say, yes we need to figure something out quickly. We can and we will. There will be a way to survive this. I am looking at an offshore company. More money I didn't need to spend but I cannot afford not to.
I've been practicing and practicing for years.I don't understand the reason why this is happening, buti hope it stays in the US only.
US seems be a terrible place for forex. All the FIFO rules and no hedging and now 50:1 leverage? Geez. I'll stick with my AU brokers
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