The proposed regulation of 1:10 leverage in forex is continuing to move the forex industry. 10 US forex brokers are united against this proposal and more new sites are out there. But not everybody is against it…
The Forex Dealers Coalition (FXDC) has a new official website which explains the cause and calls for action. This simple and straightforward site is now backed by 10 brokers: Alpari US, CMS Forex, FX Solutions, FXCM, FXDD, GFT, Gain Capital, IBFX, Oanda, and PFG Best.
Two trader’s site is up: Traders Alliance by Amdrei Pehar and CFTCFightBack by an unknown man.
The strongest opposition that I hear from comes from Michael Greenberg which dives into all aspects of the proposal, and from Fransesc Riverola, CEO of FXStreet, which covers the 1:10 leverage proposal from all directions.
Through Fransesc, I reached this different opinion from Dirk Du Toit:
So my view is that on this one you should probably be thanking the regulator, not excoriating him.
And finally I’ll say this: LEVERAGE KILLED MANY FUTURE FOREX STARS. People like you maybe? People who can make it big if you just keep the leverage small!
What do you think?
