Daily Market analysis Daily Strategy analysis (Live Fxalerts)New CFTC Rules affect US based tradersMarcello Ducille’s Underground System DemonstrationQuestion & Answer Session

The CFTC (Commodity Futures Trading Commission) not long ago announced new rules that will affect over the counter Forex trading which will take effect on October 18th. With the new rules, FXCM will not be able to offer accounts to US traders with their foreign subsidiaries..

What this means for Forex traders is… US based Forex traders who trade with foreign brokers will all soon have to look for a new broker.

As for the claim that traders would/will move their accounts offshore, this will become largely moot, since

all brokerages, regardless of nationality, will be required to register with the CFTC and subject to its

rules/oversight.

Of course, those traders that are so inclined will still find a way to circumvent the rules by shifting funds “illegally” to

unregistered brokers, but they do so at their own risk and will have no recourse in the event of fraud. As Forbes

noted, “It seems these new rules will put a stop to Americans trading retail Forex offshore to evade CFTC

rules. That trend picked up the pace in recent years and it may need to be reversed quickly.”.