Foreign Brokers and US citizens
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Thread: Foreign Brokers and US citizens

  1. #1
    What would be the consequences if a U.S. citizen was supposed to exchange with a foreign broker such as Tallinex or even Finfx? When speaking about repercussions I am referring to all customer side repercussions rather than broker side repercussions.

  2. #2
    No reprecussions at besides understanding that neither of those 2 brokers you mentioned are regulated. If your risk go for it. Suggest your deposit is little therefore in case scenerio you don't have a lot of risk tied up with either broker. . Few other offshore brokers who accept US clients are tradersway and forexfs. Latter one being regulated by Australian (ASIC).

  3. #3
    Quote Originally Posted by ;
    What are the repercussions if a U.S. taxpayer was supposed to trade with a foreign broker such as Tallinex or even Finfx? When talking about repercussions I am referring to all customer side repercussions instead of broker side repercussions.
    I really don't think there is any problem for US traders
    https://www.forexsoutheast.asia/fore...-breakout.html

  4. #4
    Quote Originally Posted by ;
    What would be the repercussions if a U.S. taxpayer was to exchange with a foreign broker for example Tallinex or even Finfx? When speaking about repercussions I am referring to all customer side effects rather than broker negative consequences.
    Not one for you but broker is in for a world of hurt if the u.s. regulators may get a hold of them http://forexmagnates.com/cftc-sues-1...forex-clients/

  5. #5
    So Weti, after your 900% profit run was Tallinex for withdrawals? They look like a legit broker. Excellent reviews with the Forex Peace Army and all.

    TradersWay is a superb broker but the fees, wow. Withdrawal fees, deposit fees, exchange and enjoy $10 per lot.

  6. #6
    Hey partners,
    Let's clear out this. No EU broker with common sense would require a US citizen as a Retail client - UNLESS he is egorized according to the brokers regulations as a professional trader.
    Even when you are not originally egorized as such you have the lawful right to be ?picked up? in other words to be treated as a professional if you pass the fitness exam for this particular option.

    Have in mind that you might lose some investor compensation rights as a professional.

    I'd think twice before starting with a broker with practices any different than that...

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