[Mike]

Oanda sent me this email.

OANDA® fxTrade™

Dear Michael,

As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

As a client based in the U.S., you will not be able to trade our four precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY) on a leveraged basis, effective end of day July 15. Leveraged trading in other currency pairs will remain unaffected, with the same margin requirements.

You will still be able to trade precious metals, but only on a 1:1 non-leveraged basis (requiring substantially more margin). If you do not have sufficient margin to cover your open metal positions in full, you need to reduce your exposure to gold and silver pairs before end of day July 15, or risk a margin call of all your open positions when this change is implemented.

We sincerely regret any inconvenience caused by this change in legal requirements. If you have any questions, please do not hesitate to contact our Customer Service Team at [email protected].

We appreciate your business with OANDA.

- The OANDA fxTrade Team


Why is this change required?

Effective the end of Friday, July 15, 2011, Retail Foreign Exchange Dealers (RFEDs) registered with the Commodity Futures Trading Commission (CFTC) will be prohibited from offering leveraged retail trading in commodities, including precious metals such as gold and silver. This change in the U.S. law is being enforced by the CFTC as an outcome of The Dodd–Frank Wall Street Reform and Consumer Protection Act.

[TopTrader]

Lol, might as well buy gold at the jewelers. NO DIFFERENCE except the expedience of the trade online.

[Jones]

That's a shame, less Americans to make money off in the metals market that's about 1/2 the market's worth right there gone.

[Clarissa Torell]

How's things?, Great site merely a notice that I was getting immediately redirected towards the homepage if I viewed this inner web page; It seemed like a browser hi-jack something like that, I'm not really too sure but assumed you really should know about it. Cheers

[Mike]

How's things?, Great site merely a notice that I was getting immediately redirected towards the homepage if I viewed this inner web page; It seemed like a browser hi-jack something like that, I'm not really too sure but assumed you really should know about it. Cheers

Are you sure? First I'm hearing of it.

[ChartWizQ]

Umm it works for me....

[DickP]

1:1 leverage is pathetic, thanks DODD FRANK for "protecting" me...