$20 Million Dollar Requirement for FDMs?

The business of forex currency trading is going to change dramatically in the next 6 months.

Read this post from Francesc's blog at FXStreet.com.

And here's an excerpt from the president and CEO of the National Futures Association to Congress in September:

Congress should amend Section 2(c) of the Act to require FCMs acting as counterparties to retail forex transactions to maintain minimum capital of at least $20 million.
That means that most forex dealers that you do business with are going to have to put up a significantly bigger amount of money to stay in business. The only pure forex-dealing firms that could survive right now under this requirement would be FXCM, Oanda, and GFT.