Is your brokers time up?
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Thread: Is your brokers time up?

  1. #1
    In 2006, the CFTC increased the minimal ANC to 1 million form just 250,000, and also in late 2007 it increased it to 5 million. The reauthorization, nevertheless, quadruples that to 20 million also anywhere from 1% to 4% of consumer equity phased in between now and May 2009.

    The first day of reckoning is based on OCT.31 when firms using less then 10 million in capitalization is going to be forced to close their doors. The following date is January 17, 2009, when firms with less than 15 million buy the chop, then comes May 16, 2009, when anybody under 20 million is no longer, not as an independent retail broker.

    Companies who's platforms offer leverage of 100:1 or more may see their capitalization requirements twice. This may be important to note especially if you are considering making a broker alter. When the NFA suggested its 5 million capitalization requirement in the center of last year only less than 10 Currency Market firms would have made the cut even that low level.

    Regards,

    Agentfx

  2. #2
    I feel that is a good move . . .brokers under the minimum ANC need to be shut down.

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