NFA Changes on Margin Rules
I am a long time customer of InterbankFX and Oanda. I recently received an email from InterbankFX regarding the margin rules changes.
In compliance with the upcoming NFA regulations, we will no longer be offering accounts with more than 100:1 leverage. We are also required to alter the leverage levels on our existing accounts. We want our customers to be aware of these new requirements to determine in advance how this may affect their trading plans and decisions.
As of market open on November 29, 2009, all currency pairs will have a maximum leverage of 100:1, with the exception of the USD/SGD and the USD/ZAR which will have a maximum leverage of 25:1.
I don’t think it affects my accounts in Oanda because it is using 2% margin.
The new rules probably only affect the US Forex brokers if they are registered with NFA.
