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FXDD to continue offering spot Gold and Silver trading on 1:1 non leverage bases

Jul 07 2011
By
Forexbrokerz.com
As a result of the Dodd-Frank Wall Street Reform Act, new regulations will be coming into effect on July 16, 2011. All U.S. based retail forex dealers such as FXDD will be prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011. As a U.S. based trader, FXDD will no longer be able to offer you leverage based trading of Gold and Silver as of 4 P.M. EDT July 15, 2011.
 
It is FXDD’s current plan to continue to offer our U.S. based traders the opportunity to trade Gold and Silver, however, on a 1:1 non-leveraged basis, which will require substantially more margin. If you do not have sufficient margin to cover your open metal positions on a 1:1 basis, you will need to reduce your exposure before 4 P.M. on July 15, or risk all remaining open positions in Gold or Silver being closed out automatically and the remaining balances deposited back into your trading account.
 
The new regulations will not affect other Forex pairs and as always, FXDD remains committed to bringing new and innovative products to our clients.
 
OANDA announced the same solution for US clients a couple of weeks ago
TAGS: fxdd  fxdd gold trading  fxdd silver trading  non levergaed 

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