18th October, Futures Trading Illegal for US Citizens?

I have a client who claims he's been told by numerous US brokers that, as from 18th October, no US citizen can have an overseas trading account and that it will be illegal for them to trade futures.

I find it hard to believe but has anybody anything sensible to say on the subject? Is there any truth in it at all?

No its not illegal for US citizens to trade futures the CFTC wants to eliminate US traders holding offshore spot FX accounts. If you want to learn more my friends at www.libanman.com specialize in these issues.