Effective October 18, 2010, the leverage offered to retail customers of U.S. foreign exchange dealers will be reduced to 50:1 for major currencies and 20:1 for all others.
What will this mean for U.S. traders? It means their trading power will be slashed if they trade the major currency pairs with a further reduction in the minors.
It also means a lot more U.S. Forex traders will be moving their accounts offshore.