Hi,
Are you accepting US customers at this time? If so about how long does the registration process take?
Thanks for your help.
Hi Jjp7
Registration takes a few minutes, but FXOpen does not accept US citizens in order to comply with CFTC regulations.
I’m so curious why do most of broker not let US customers to join and trade??
It’s because of CFTC regulations. A broker must have a US license in order to accept US citizens as clients.
To add to what fxfrench explains the majority of brokers do not get US licenses because the CFTC regulations are very strict and specific on certain policies. Therefore, a broker with a US license that provides service to US clients cannot easily compete internationally because brokers outside of the US do not have the same restrictions. This is why big brokers like FXCM has an FXCM in the US for US clients and another in UK with less restrictive conditions for the rest of the world.
So, the US citizens is get trouble while trying to make money online in forex. Not all broker accepting them. Right now, there are many unemployments in US. and dollar also killed by BRICS
There are still many brokers in the US. Its just that the US that doesnt allow offshore brokers to accept US citizens
I think the US have hidden secret about its policy. And I think that any broker will get sanction if US citizens get scammed there, like other nation that get illegal sanction from US. Its shameful