August 2010 Forex Discussion

So now we are no longer able to trade with brokers not in the US?

I got an email from deltastock saying they will no longer work with US customers after Oct 14th..heres part of the email i got

We are sending this message to inform you that from October 18^th 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act will come into force. The Act specifies that only United States financial institutions are permitted to act as counterparties to off-exchange retail Forex transactions for US residents and citizens. Please find further information in the attached file.

In relation to the hereinabove information we will no longer accept any new US applicants and on October 14^th 2010 Deltastock will be forced to terminate all existing customer trading agreements for clients who are currently residing in the United States. According to our records you have been identified as being a US citizen or resident. Please refer to Art. 10.4.2. from customer trading agreement No01-N-12647-1/13.05.2010, signed between you and Deltastock.

The following procedures for managing existing Trading Accounts that belong to US citizens or residents will apply:

At the closing of the trading session on October 14^th 2010 all affected Trading Accounts are expected to have NO Open Positions and NO Pending Orders.

DID U NOT GET THIS WALL???

AUD has cleared last summers highs is it now setting sights for Feb 08 highs in the 97s?

Getting some relief in the JPY trade...CHF trade is dead and AUD just keeps pushing...

Im on the sideline for now waiting for these to come back to me...