Simple's Green Room

[simplegreen]

GM st..,good article....seems that if they do impose leverage at limit of 10:1 then Oanda will be the only stateside broker with any chance of keeping a few clients due to the fact that you can choose to trade any amount of units you desire up to the limits of your account..from one unit to whatever.If the other brokers continue to force traders to trade standard lots they will quckly lose clients.Of course a lot of them lose clients anyway by forcing clients to trade standard lots by virtue of the fact that trading at $10 a pip IMO wipes out a lot of accts and many of those that go bust wont elect to reload and try it again.ALL brokers should allow their lot sizes to be customer decided as it is with Oanda.
It seems to me that the first thing to bite the dust would be micro accts and quickly followed by all(most) others to brokers outside the US.Anyone thats been in FOREX has enjoyed the benefits of high leverage and wont give that up unless forced to by having no alternative.We all have enjoyed putting in a nickel to get a dollar song!
I looked into what it would mean on Oanda demo acct and find that at 10:1 and $8176 in acct a mini lot of 10K would mean it costs $1000 of my available margin on USD/CHF and margin call would be at $500 and available units would be 81,762(before placing the mini lot trade).
Just horsing around trying to see whether I would be willing to stay stateside with Oanda or opt out for offshore acct change.My final decision if this passes is that I am 95% sure I would take my marbles and play with them in the UK!
I feel sure that I would trade with the leverage change long enough to see if I think I can live with it or not..but doubt I will like it.