It appears like USA doesn't want individuals to make money at FOREX...
First time that I get comfortable with a pair and I start making some cash with XAUUSD within this business, this occurs:
As a result of the recently enacted Dodd--Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex traders such as OANDA are banned from offering leveraged trading in precious metals to retail customers following Friday, July 15, 2011.
For a customer trading with our OANDA Corporate (U.S.) Division, you will not be able to trade our four precious metallic pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY) to a leveraged basis, effective end of day July 15, 2011. Leveraged trading at other currency pairs will stay unaffected, with the same margin requirements.
We're working hard to minimize the impact of this restriction on our customers' trading. For example, if you are not a resident or citizen of the U.S.A. you'll be able to transition soon into our OANDA Europe Division without having to close your open positions. We will send a detailed email soon with instructions about the best way best to migrate your account.
We truly regret any inconvenience caused by this change in legal requirements. In case you have any questions, please do not hesitate to contact our Customer Service Team at.
We value Your Company with OANDA.
- The OANDA fxTrade Team