Retail currency brokers are considering operating in the United States after a nearly seven-year absence, if President Donald Trump is able to carry through on …
Goodbye Dodd-Frank, Hello Foreign Exchange BrokersRetail currency brokers are considering operating in the United States after a nearly seven-year absence, if President Donald Trump is able to carry through on his pledge to deregulate financial markets. The prospect of lighter regulations has revived interest in the country among foreign exchange brokers such as UFX and Alpari, which cater to small and individual investors. It has also brightened the outlook for an industry that has struggled and lost market share to places with looser regulations in Asia and Europe. A return to the United States could mean physically setting up an office in the country as a U.S. entity, or in some cases maintaining an overseas headquarters while soliciting business in the United States. At the heart of the forex brokers' optimism is the possible repeal of the Dodd-Frank Act.
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