You can bet American brokers are putting on a 'happy face' trying to save what business they can. Now here is the crux of it:
- All trades are now First in first out (FIFO). If a trader puts in a longer term trade, and then later sees a short term opportunity, he/she can no longer close their second short term trade at a profit, while letting the first trade run. The first trade must be closed first.
- No hedging: You cannot have a buy and sell order open on the same pair at the same time. This is a critical strategy used by many to mitigate risk while keeping good positions open during an adverse swing.
- Leverage: American brokers now can only offer a 50:1 leverage or less. Yes, this does reduce risk for novice traders, but it also reduces profitability for good traders by cutting profitability by 2 to 10 times, depending on the leverage used.
- No Offshore Accounts: American traders can no longer trade with brokerages 'offshore'.