Hi, Do you guys know some UK broker thatsn't ristrict US resident to open an acc and allow US resident to trade CFDs? Mini . Micro Forex account is excellent to with fine leverages, ECN /STP is ok. Thank you in advance
Hi, Do you guys know some UK broker thatsn't ristrict US resident to open an acc and allow US resident to trade CFDs? Mini . Micro Forex account is excellent to with fine leverages, ECN /STP is ok. Thank you in advance
CFDs - since in CFDs on stock indices and commodities - no. All of them do not (can't) take american customers or else they run into problems with uncle sam. FX-only companies can accept u.s. customers tho.Originally Posted by ;
I have been investing for a while, and after finding a design which actually suits my personality, I am now trading profitably. My design is not important to this thread except to state that I need 200:1 or greater. Recent changes now make it hard for me to keep the same level of functionality.
The NFA recently added a new requirement, which limits their members from offering higher than 100:1 leverage and that standardizes the calculation of margin one of their associates. I am not conscious of any other country that has done so, and if your kind of trading requires greater than 100:1 leverage, it may look to be a good idea to open a trading account outside the united states.
But, the US federal government recently launched a new law affecting US citizens who reside inside the US--these laws can make it quite hard to have a trading account or an investment account with a broker operating in a state outside the usa. For example, ask with Alpari, UK or with the Swiss broker, Mandus Invest--the response you will receive is quite intriguing. Alpari, UK says their requirements quite clearly on their site, and it's a real eye-opener.
You may even come to feel, as I do, that you are being held captive between the NFA and the US government. A non-resident US taxpayer is not as controlled in this area than is a US resident.
NFA's new law took effect December 1st, and it does two things. It standardizes Margin calculations in order that all NFA member brokers are now needed to calculate margin in the same manner (All brokers working in the US are required to be members of the NFA). Second, it establishes maximum leverage at 100:1.
I don't know yet what the new US law is that impacts US citizens residing in the united states, and I don't know how much time it's been in impact. I have asked my accountant about it--he is conscious of the new law, however he's no other clients who are influenced by it, so he could provide no help.
I have tried during December to exchange under the new rules with 3 brokers, all of whom are reputable, and all of whom are NFA associates or are in the process of becoming an NFA member. My results throughout December, while good, are less than that which they had been formerly. More importantly, the new NFA principles have had a very negative affect on my own confidence in my system.
If you have knowledge of the new US law affecting US citizens residing in the US and who wish to trade or invest in firms loed outside the united states, or if you employ an accountant who will advise me in this matter, I would appreciate your comments.