6/11/ · Below is the primary reason why almost all offshore international Forex brokers do not accept US citizens now. Dodd-Frank Act The Dodd-Frank Wall Street Reform and Consumer Protection Act is a federal statute which President Obama signed into blogger.comted Reading Time: 6 mins 7/29/ · Yes, the broker sued their own clients and why? Because the clients had earned a profit. The broker accused them of tampering with the price feeds or some other ridiculous accusation. The SEC/CFTC (governing Forex bodies in the US) fined this broker several million dollars in the end for many illegal activities they were engaged blogger.coms: 21 10/4/ · Therefore, many brokerage companies from other countries, observing the requirements of US law, provide warnings on websites that their services are not intended for US citizens. But US law does not prohibit citizens of this country to trade in Forex market outside the US jurisdiction
Forex brokers that accept US traders (offshore) & NFA registered Forex brokers
The forex market is swamped with brokers, some of whom are regulated and some who are not. When it comes to choosing a suitable broker to suit your needs, it can be difficult to know which to select — should you go for one of the many regulated brokers or risk going with an unregulated why not accept us clients to many forex broker Regulated brokers are those who are registered why not accept us clients to many forex broker the financial regulatory body of their country for example the FCA in the UK and who must comply with the rules set down by that body.
Unregulated brokers, on the other hand, do not have to comply with any rules but can behave in any manner they see fit. Here we look at the drawbacks of choosing an unregulated broker so that you can make an informed decision. Any online search will reveal numerous reliable forex brokers who boast their regulatory pedigree on their homepage. Being regulated adds to their credibility and helps potential investors to see that they are a trustworthy operation.
Despite this, many brokerages operate without regulation in offshore jurisdictions. One of the major reasons that these brokers choose to forego regulation is that this is one way in which they can cut their operational costs.
Obtaining and maintaining a license costs a lot of money, sometimes in the millions, and this can form a barrier to those who are just setting up as a new brokerage service. Another reason is that many of these brokerages are based in offshore tax havens, which enables them to limit their tax burden.
Unregulated firms are also able to offer different product ranges or service customers which they would otherwise be unable to serve. Of course there are some unregulated brokers who do not have legitimate business reasons for failing to obtain a regulation license.
These take advantage of investors, engaging in fraud or bad business practices which can cause financial hardship to their clients. Traders who choose to invest with an unregulated trader and who encounter problems will have very little recourse and may suffer from significant financial losses.
Any investor who takes the chance of trading with an unregulated broker is taking a major risk with their money. Traders are protected from mistreatment and fraud when they choose a properly regulated broker and this is vital in any circumstance where things go wrong. Investors who choose a regulated broker can benefit from financial compensation in the event that their brokerage firm goes out of business and can have peace of mind in knowing that their broker must comply by all the rules and regulations of their regulatory body and therefore they will be safe from mistreatment.
Although being regulated can be no guarantee that your forex broker will treat you well, it does help to reassure investors that their finances and personal information is in safe hands. Unfortunately, many investors end up getting scammed by unregulated forex brokers as they either are unaware of the importance of choosing a regulated broker or they did not pay enough attention when making their selection. English English Italiano Dansk Dutch Français Deutsch Eλληνικά العربية Norsk Português Русский Español Svenska Türkçe 日本語.
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What are the Risks of Choosing an Unregulated Forex Broker? How to Avoid Unregulated Forex Brokers Unfortunately, why not accept us clients to many forex broker, many investors end up getting scammed by unregulated forex brokers as they either are unaware of the importance of choosing a regulated broker or they did not pay enough attention when making their selection. Don't miss a thing! Discover what's moving the markets.
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, time: 6:09Forex Brokers for US traders (accepting US clients)
6/11/ · Below is the primary reason why almost all offshore international Forex brokers do not accept US citizens now. Dodd-Frank Act The Dodd-Frank Wall Street Reform and Consumer Protection Act is a federal statute which President Obama signed into blogger.comted Reading Time: 6 mins 6/24/ · The forex industry is a very large and competitive one, which is why many forex brokers accept only US residents as clients. It's more convenient for an international trader to conduct business with his broker from his home, rather than having to spend additional time traveling to 1/1/ · Even though the US is the major market for various goods and services, for some reason FX trading for individual investors is not so common. US residents can trade Forex. Before we move on any further, it is vital to state that Forex trading in the US is not prohibited. A trader from the US can trade FX online as easily as a person living in Europe or Australia. However, the main difference lays in the variety of brokers a trader Estimated Reading Time: 5 mins
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