Interactive Brokers Folds Retail Forex in US
Posted: Thu Aug 11, 2016 6:17 pm
Finance Magnates has learned that US clients of forex brokerage Interactive Brokers have been contacted by email informing them that effective 1 September, 2016, only accounts held by Eligible Contract Participants (ECPs) may open leveraged forex positions.
Eligible Contract Participants
ECPs are generally individuals or organisations with assets of over $10m or $5m if trades are hedging.
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The email explained that clients who are ECPs are required to complete a questionnaire in order to continue trading leveraged forex.
Those who do not qualify as an ECP after ... (read more)