The deadline for comments on the proposals of the US Commodity Futures Trading Commission about retail foreign exchange passed on March 22. However a date for a decision on the proposals has not yet been announced.
The proposal to cap leverage at 10:1 is only one of the suggested new regulations that also include stricter rules for the capitalization of the platforms, or Forex Dealer Members.
“The CFTC has received almost 10,000 submissions to date, almost uniformly opposed to the 10:1 proposal,” wrote online FX provider Oanda in a statement.
The CFTC’s unstated purpose in the proposals is to protect investors, particularly from fraud.
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