Question about trading forex by US non-residents?
This is my first post here and I'm also very new to Forex in general. I'm now in the process of finding a broker and then found out that US has some kinds of rules that brokers must be registered with NFA to serve US customers. Thus, some brokers just block my IP right out of the bat. Some still allow you to go through the application page, but have no "USA" to be chosen for the fill of country. Some don't have any restriction at all.
If I were a US citizen, then this would be clear that I can't go for brokers from UK, Cyprus, etc. But the complication is that I am a non-resident (for both tax and general purposes) who is living in the US for study. Does anyone know if it's OK for me to use my computer, which is physically in the US, to trade through foreign brokers who aren't registered with NFA??? Some brokers also say "domiciled in the US" so I'm not sure.
Since I'm graduating soon within a few months and will move back home, I think it would be clear by that time that I'm free to trade with Europe-based brokers. However, I will still have a US bank account as a handle for my other investments (stocks and mutual funds). Would it be OK if I still use this account to fund my forex account in those foreign brokers?
Some may say that it's easiest to go for US-based forex brokers but I just can't find any with good spreads, let alone hedging and leverage rules. So, if not utmost necessary, I want to try some alternatives. Any comment on this would be appreciated!
Hello, I guess the best path to find out is to ask your prefered broker.
Originally Posted by nnpra
I deal with a US-based broker which have fixed 2 pips spread & support a lot of pairs which is non-supported by other brokers, they have too a 25% bonus on your deposit, check out if it fits you Pairs & Spreads
hope that helped you I tried 2 find out what is most comfortable with you.
By trainfit in forum Newbie Island
Last Post: 09-15-2011, 04:31 AM
By pghud3 in forum Newbie Island
Last Post: 02-13-2011, 04:06 AM
By Scottish Mike in forum Newbie Island
Last Post: 11-04-2009, 06:27 PM
By liggy002 in forum Newbie Island
Last Post: 01-22-2009, 09:47 PM
By Stew543 in forum Newbie Island
Last Post: 04-26-2008, 05:12 PM
"A happy person is not a person in a certain set of circumstances, but rather a person with a certain set of attitudes."