AUD/USD futures

[arruga]

Hi
I got all my money in USD and trade USD-based instruments in the US, using IB as platform (being an australian tax resident). Now, I want to trade AUD.USD futures, or any other Fx pair for that matter, but IB informs me about changes in regulation that Fx are no longer tradable for australian residents and can't have margin accounts ?? Well, this would render IB pretty useless to me, but like their low low brokerage commissions....anybody knows more about this ? recommendations/suggestions ? change broker platform ? to which ?
thanks

 

[Roller_1]

Hi
I got all my money in USD and trade USD-based instruments in the US, using IB as platform (being an australian tax resident). Now, I want to trade AUD.USD futures, or any other Fx pair for that matter, but IB informs me about changes in regulation that Fx are no longer tradable for australian residents and can't have margin accounts ?? Well, this would render IB pretty useless to me, but like their low low brokerage commissions....anybody knows more about this ? recommendations/suggestions ? change broker platform ? to which ?
thanks

margin is available if you have a corporate account with IB, as far as i am aware that is the only way too access margin through IB. If your funds are in USD you can still exchange them back to AUD via a forex trade but not AUD > USD. Unless you put an order in too buy some stock and they will exchange the funds for you.

 

[minwa]

You're talking about SPOT FX, not futures. If you didn't know that, stay away from futures..Go trade OTC FX/CFD, plenty of brokers out there, check out reviews online.