7/5/ · US residents can not trade with a broker that is not CTFC (U.S. Commodity Futures Trading Commission) regulated (from January ). It is simply a law that is applied to US residents (and if it is not honored, CTFC is happily suing brokers not stating that, in case of offshore brokers, they do not accept US residents as clients) 1/1/ · However, when it comes to the US, European licenses simply do not work. A broker that wants to have traders onboard from the US has to be regulated by the NFA, National Futures Association. At this point you may ask, there are brokers that have multiple licenses, like CySEC, FCA, ASIC and more, why would they not get another one to provide services in the US? The reason for Estimated Reading Time: 5 mins 5/14/ · To avoid paying this high fee, most forex brokers decided to just stop accepting US clients rather than face the costly operational fees and expenses. Therefore, the Dodd-Frank Act is the main reason many Forex Brokers have decided to decline US Citizens or Residents as clients. Why are some Forex Brokers still Accepting US Clients? Good News!!!!Estimated Reading Time: 3 mins
Forex Brokers for US clients - Fair Forex
Forex Trading can seem daunting and confusing at first, especially when you are a United States citizen or resident. In the United States there are many restrictions and regulations that United States Regulated brokers have to abide by. United States customers have the same ECN connection, leverage and spreads why not accept us clint forex brocker every other customer. Below we have compiled some answers to questions that get frequently asked by our US clients.
Following the Financial crisis ofmany big US banks went bankrupt, which made regulators change tact by bringing in regulations to fill in loopholes in the financial sector. As a result, all US forex brokers are regulated by the National Futures Association NFA and the Commodities and Futures Trading Commission CFTCboth of which impose strict rules compared to other FX brokers from the rest of the world. Under these regulations, US brokers can only offer their clients a maximum why not accept us clint forex brocker of justmeaning that US Citizens and Residents have much less leverage advantage compared to other global traders who enjoy leverage from to with offshore Forex Brokers.
US brokers also cant allow any hedging and instead must implement FIFO First In First Outwhich means if you open more than one position on a currency pair, you must close the first before closing the second one. There is a lot of red tape for US traders who sign up to US brokers, with long checklists to complete as well as providing your Tax information, whereas with offshore brokers the sign up process is quick and easy.
US traders cant deposit using are not allowed to use their Credit card to fund their Forex Trading account or access any add on services such as signals and indicators. The Dodd-Frank Act requires that a Forex Broker who wants to operate in the US has to be registered both CFTC and NFA.
This requires brokers to put up a lot of capital as security as well as meet tedious and costly reporting requirements. For example, the license fee of NFA and CFTC is 20 million USD alone.
To avoid paying this high fee, most forex brokers decided to just stop accepting US clients rather than face the costly operational fees and expenses. Therefore, the Dodd-Frank Act is the main reason many Forex Brokers have decided to decline US Citizens or Residents as clients, why not accept us clint forex brocker. Good News!!!! Despite the regulations, US Clients CAN STILL open a Forex trading account with offshore and foreign brokers who do accept US clients.
The US regulation CFTC has a signed Memorandum of Understanding MoU with many foreign governments. Under current US law, CFTC has no authority to stop or prevent US Traders who trade through offshore Forex Brokers that are beyond the reach of US regulation.
The US why not accept us clint forex brocker requires that US Citizens report offshore accounts which people hold to the IRS but, they cannot prevent US Citizens from having those accounts. The Act affects the Forex brokerage not you as an individual, so as long as you report what is required to IRS the everything is completely legal.
The best Forex brokers for US clients are offshore brokers because they offer more freedom, better trading conditions, why not accept us clint forex brocker, less hassle and few limitations. Chose a broker who offers No FIFA rule, allows hedging, why not accept us clint forex brocker, scalping and EA trading. Home About us Why us? Customer reviews Mission Statement Follow Us Trading Account Types Islamic Forex Account TRUE ECN Crypto Brokers Deposits and Withdrawals Low Spread Forex Broker MT5 Brokers MT4 Brokers Broker for Professionals Forex Trading Instruments MAM Accounts Partnerships Introducing Broker Tools Forex Trading Calendar Forex Trading Calculator Forex Trading Help Help Center Blog Contact.
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By Gareth McCauley Published On May 14, Offshore Brokers Vs US brokers Following the Financial crisis ofmany big US banks went bankrupt, which made regulators change tact by bringing in regulations to fill in loopholes in the financial sector.
Why are some Forex Brokers still Accepting US Clients? This means that in countries where there is no signed MoU, brokers can accept US clients. I s Forex trading legal in the US? Best Forex brokers for US clients The best Forex brokers for US clients are offshore brokers because they offer more freedom, better trading conditions, less hassle and few limitations. Fair Forex Vs KOT4X. Valforex Scam. Fair Forex. Up to From 0. From 1. Hugos Way. Not Offerred. Traders Way. From 2.
FX Glory. Market Maker.
Tradersway Currently Not Accepting US Clients - 1 Year Or More
, time: 3:08Forex Brokers for US traders (accepting US clients)
5/14/ · To avoid paying this high fee, most forex brokers decided to just stop accepting US clients rather than face the costly operational fees and expenses. Therefore, the Dodd-Frank Act is the main reason many Forex Brokers have decided to decline US Citizens or Residents as clients. Why are some Forex Brokers still Accepting US Clients? Good News!!!!Estimated Reading Time: 3 mins 7/5/ · US residents can not trade with a broker that is not CTFC (U.S. Commodity Futures Trading Commission) regulated (from January ). It is simply a law that is applied to US residents (and if it is not honored, CTFC is happily suing brokers not stating that, in case of offshore brokers, they do not accept US residents as clients) Below is the primary reason why some offshore international Forex brokers do not accept US citizens. Dodd-Frank Act The Dodd-Frank Act is the most recent federal statute which
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