FXOpen and US Citizens - CFTC Regulations

[FXOjafar]

Dear FXOpen Clients

Access by US citizens to the FXOpen main website, live chat and other support functions is now restricted to honour FXOpen's commitment to fully complying with the CFTC and the US government.

US citizens who wish to withdraw funds may still do so by accessing the MyFXOpen trader's cabinet at https://cabinet.fxopen.com/Login.aspx

Thank you for your understanding.

[peanutdude]

Don't you mean to say a US resident.

The CFTC order applies to any person living within the United States, whether that person be a US citizen or not.

Any US citizen not living within the United States is not covered by that law.

[forexopen]

Dear FXOpen Clients

Access by US citizens to the FXOpen main website, live chat and other support functions is now restricted to honour FXOpen's commitment to fully complying with the CFTC and the US government.

US citizens who wish to withdraw funds may still do so by accessing the MyFXOpen trader's cabinet at https://cabinet.fxopen.com/Login.aspx

Thank you for your understanding.

hi rebatefx,

if fxopen is commited to comply with CFTC's regulations, then does that mean you will eventually close all US clients' account in the future and return their funds? you said "US clients may still withdraw" and that got me thinking whether i should just withdraw all my funds and look for another broker before all US clients start to close their fxopen accounts in fear of facing problems down the road. any clarification? do i worry too much? thank you.

[mfsforex]

What the US government try to do is to protect the US resident as well as US citizen for investment overseas. They only want US Hedge funds, mutual funds and Fraud Fund to FRAUD all US's citizen and resident. That's why they have so many MAJOR HEDGE fund FRAUD in Unite State..

[KevinH]

hi rebatefx,

if fxopen is commited to comply with CFTC's regulations, then does that mean you will eventually close all US clients' account in the future and return their funds? you said "US clients may still withdraw" and that got me thinking whether i should just withdraw all my funds and look for another broker before all US clients start to close their fxopen accounts in fear of facing problems down the road. any clarification? do i worry too much? thank you.

I'd like to know this as well. I would prefer to continue trading with FXOpen, but if my account will eventually be shut down, I'd like to start looking for alternatives.

[KevinH]

Deleted due to bad info on my part.

[Ahlamo]

Hello, when my last broker FxPro was also trying to be "compliant" with these invasive and ridiculous US rules, they gave their US clients a 6 month advance notice before they closed their accounts. Should i expect a similar notice from fxopen. At the least accounts should not just be closed overnight. this is very unfortunate, the CTFC just can't stay out of other people's business. What about Non US citizens that live part time in the US? do they get to keep their accounts open?

[Ahlamo]

Also, i am an fxopen client, i could care less if FxOpen is compliant with the CTFC

[FXOjafar]

I'm sorry if you are inconvenienced Ahlamo. We are just following legal advice on the matter.

[10grand]

US citizens who wish to withdraw funds...

What's the bottom line?

Is it mandatory or is it optional for US citizens to withdraw their funds?

[MMGood48]

What's the bottom line?

Is it mandatory or is it optional for US citizens to withdraw their funds?

I'd like to know this as well and how much time we have to withdraw before our accounts are closed.

[forexopen]

fxopen.com homepage did not load until last week and today i see the pages loading on my laptop. did you guys resolve the legal issues with CTFC? i still don't see contact info on the website but seeing fxopen.com site loading again is a welcome sign for me.

[Ahlamo]

I hope you resolved the issues with CTFC and i am glad to hear that you will not force anyone to close their accounts. I am happy with FxOpen and to be honest i don't know of any better FX brokers out there. Thanks.

[FXOjafar]

Guys. The issue with the CFTC has not been fully resolved although we are following legal advice on what actions we need to take.

[BillP]

Hello,
So if we decide to stay with Fx Open, will we still be allowed to withdraw thru moneybookers if we deposited our funds via alertpay?

Thank you,
Bill