FXDD Changing Leverage Terms

FXDD is following suit and caving in to Federal mandates defining how we can apply leverage to our trades. I hate to draw conclusions, but I knew that Obama's rhetoric would affect policies that average traders need to adhere by. Obama is slowly turning me into a conservative.

Dear FXDD Customer:

As you know FXDD is in the process of registering with the CFTC and joining the NFA. In order to complete our registration process FXDD must be in full compliance with all applicable NFA and CFTC regulations. We are taking this opportunity to advise you that beginning Sunday November 29th, 2009 FXDD will implement strict compliance with all applicable CFTC and NFA Regulations. Going forward, FXDD’s back office system will be the official statement of record for all accounts. Meta Trader statements will not be recognized as official records. FXDD’s back office is compliant with all CFTC and NFA regulations regarding hedging and FIFO. Also, leverage will be adjusted to comply with NFA regulations. The following is a list of changes that will be executed:

Leverage will be set at 100:1 for major currencies; all others will have a leverage of 25:1. The only currencies affected by the 25:1 will be the USD/TRY and the USD/MXN. Gold and silver leverage will be set at 100:1 We urge you to examine your positions now and determine if and how the change in leverage will affect you. FXDD’s pip calculator is a useful tool:
http://www.fxdd.com/en/forex-trading...lculators.html.


Going forward, the official FXDD account statements will show positions offset on a FIFO (first in, first out) basis.


FXDD’s back office does not recognize hedging. FXDD’s back office is a position based system and all opposing orders are offset immediately. Going forward the official FXDD account statements will show opposite positions being offset immediately. Please note: this change will not affect your trading style and will not affect your EA if you use one.


You will no longer receive a daily MetaTrader statement via email. Official daily and monthly account statements will be emailed to you directly from the FXDD back office. You may, however, retrieve a complete trading history for your account from the “Account History” tab in the terminal on the MetaTrader platform. Please note that the trading history provided on the MetaTrader platform is for trade ticket reference only, and is not an official account statement.


Shortly you will be given access to FXDD’s back office report viewer that will give you real time access to the back office and allow you to create and print detailed account statements.


We urge you to download the latest compliant version of Meta Trader at
http://www.fxdd.com/download


Thank you very much for your cooperation. Please feel free to contact us with any questions and/or concerns at
+1-212-791-3950 or sales@fxdd.com

[SooDAN]

I wouldn't worry about Obama so much as O'Cracker

[DickP]

What is O'Cracker exactly?

It just goes to the heart of the matter, Liberals want MORE and MORE government, and people don't realize how its sneaking up on them. This is my final wake up call because it's hitting home in my industry .

[BigE]

O'cracker... the white man

[DickP]

Oh, I stand corrected. That's a tad racist

[McPott]

Such is life, American Clients of American brokers must get used to this no matter which broker it is.

[DickP]

Originally Posted by SooDAN

I wouldn't worry about Obama so much as O'Cracker

You really are a piece of work.

[krishi]

can i discuss about forexforums .

[bear]

my broker is still at 100:1 leverage. is that bad?

[DickP]

Originally Posted by bear

my broker is still at 100:1 leverage. is that bad?

How big is your account?