5,500 comments on the new CFTC rules - that's it?!
fxstreet's Francesc reported that CFTC has received 5,500 comments from brokers and traders. And all I can say is that this is a massive disappointment. I expected US traders to actually act on this proposal and voice out their displeasure. I guess I was totally wrong. If only 5,500 traders out of several hundreds of thousands of US traders have responded so far this only means that traders don't really care. This also adds to the fact that not all US brokers joined the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Dealers Coalition meaning that if the industry itself isn't united then how can you expect CFTC to take the protest seriously?
FXstreet.com (Barcelona) - The market has massively reacted to the CFTC proposal rule to limit the Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term in the United States to 10:1 in Forex. Around 5550 letters have been sent to the CFTC official site by brokers and independent traders. Most of the messages are against the rule, Brokers have created the FXDC coalition and the traders, the TradersAlliance group.
Since January 1st, The CFTC has received around 5550 letters from forex players. The week between January 18 and 24 was the most intense with almost 3000 messages, January 21 being the busiest day with almost 1000 comments.
The U.S Commodity Futures Trading Commission has refused to comment on its considerations about the proposed rule to limit leverage in US to 10:1. “The CFTC declined to comment”, according to a CFTC Spokesman, since the proposal is currently out for public comment until March 22.
fxstreet's Francesc reported that CFTC has received 5,500 comments from brokers and traders. And all I can say is that this is a massive disappointment. I expected US traders to actually act on this proposal and voice out their displeasure. I guess I was totally wrong. If only 5,500 traders out of several hundreds of thousands of US traders have responded so far this only means that traders don't really care. This also adds to the fact that not all US brokers joined the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Dealers Coalition meaning that if the industry itself isn't united then how can you expect CFTC to take the protest seriously?
FXstreet.com (Barcelona) - The market has massively reacted to the CFTC proposal rule to limit the Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term in the United States to 10:1 in Forex. Around 5550 letters have been sent to the CFTC official site by brokers and independent traders. Most of the messages are against the rule, Brokers have created the FXDC coalition and the traders, the TradersAlliance group.
Since January 1st, The CFTC has received around 5550 letters from forex players. The week between January 18 and 24 was the most intense with almost 3000 messages, January 21 being the busiest day with almost 1000 comments.
The U.S Commodity Futures Trading Commission has refused to comment on its considerations about the proposed rule to limit leverage in US to 10:1. “The CFTC declined to comment”, according to a CFTC Spokesman, since the proposal is currently out for public comment until March 22.