No more GOLD and SILVER in the USA
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Thread: No more GOLD and SILVER in the USA

  1. #1
    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

  2. #2
    Quote Originally Posted by ;
    if you're not a resident or citizen of the U.S.A. you will be able to transition soon into our OANDA Europe Division without needing to shut your open positions.
    And what's with taxes in UK. . .Does UK non-residents (non-domicile) pay taxes on capital gains (or that goes by source of income) into UK when trading forex?

  3. #3
    Quote Originally Posted by ;
    It looks like USA does not want people to generate income at FOREX...

    Initial time I get comfy using a pair and I start making some cash with XAUUSD in this company, this occurs:


    As a result of the recently commissioned Dodd#8211;Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail Foreign Exchange traders like OANDA are prohibited from providing leveraged trading in precious metals into retail customers after Friday, July 15, 2011.

    [b][font=Arial][color=purple]As...
    heheheheeeh....american fantasy, american freedom....guys you are in large problems....american government is penalizing the onest people,instead the disonest can endure using their transactions....GS...

  4. #4

  5. #5
    Men you may not get that but that is liberty! Liberty is the freedom. Have you been currently from Harvard Princeton or Yale. Well if you are not capable to believe. We need qualified individuals and bankers to conduct America.

    Appearance Obama just wants to protect you and keep you safe when you trade forex or commodities. You all are not qualified to create your own investment choices.

    What is wrong with you people. Submit to our saviors!

  6. #6
    Comeon guys! The planet is in economic shit. Its not just the US and not just retail traders, its each country and every industry segment that must do something about it. The sole dilemma is, some have no clue what they are doing and why.

  7. #7
    I'm thinking that they just realized that these MM brokers don't have any actual PRECIOUS METAL to back these up contracts with, ie you have been trading bits of digital paper that refer to some gold, and not gold itself.

    But , how else would you have the ability to sell short?

    Not that the bank's have some of it either, its all in India and China.

    You want to put money into silver / gold? Go buy some silver and gold. There are a couple vendors (not brokers) that will store and insure it for you, so that it is possible to sell it after at close to place. Here is what I like to do. In addition, I live in the U.S. and have had no problems with it.

  8. #8
    As there are a lot of open positions, we will see quite interesting weeks with liquidating places, which may give us new direction of this market...

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