Due to foreign exchange regulations in the United States of America and Canada citizens, residents and entities are excluded from the managed funds portion of the platform.
In the United States the Dodd-Frank Act prohibits leverage beyond 50:1 and first-in-first-out must be followed.
- Limitation of leverage – the maximum allowed leverage by the NFA is 50:1 on major currency pairs and 25:1 on exotic pairs
- Trading conditions – hedging is not allowed, and brokers must adopt a first-in first-out (FIFO) model with their clients’ trades
In Canada, it is the Investment Industry Regulatory Organization of Canada (IIROC limits leverage to 18:1
Additionally, our current liquidity provider FX Choice does not allow citizens, residents and entities from Italy to participate on their platform for unknown reasons.
- “We do not accept customers from Italy due to company policies as to the exact policy that has not been disclosed.”
Once liquidity providers are added in 2Q18 as per the road map those from Italy will be able to participate in the managed funds program.