People please help I’m looking ECN broker who has JP225 index and accepts the citizens of the USA
There is no index
While FXCM offers CFD products like JPN225 to non-US residents, CFTC regulations prohibit any broker from offering CFDs to US traders.
Note that this restriction is based on US residency, not US citizenship. If you are a US citizen living abroad, you can open a trading account with FXCM’s UK entity to trade CFDs like JPN225 when you provide us with your proof of residence outside the US. However, if you live in the US (even if you are not a US citizen) then CFTC regulations prohibit us from offering you CFD trading.
Hello Jason, thanks for the info. Quick question: does this apply to spread betting as well? I am a US citizen but will be living abroad soon. I was recommended IG (uk) but it was my understanding that American citizens would not be allowed to join due to CFTC regs. I will look into FXCM now as well. Are you saying once i have proof of residence (utility bill?) abroad i have access to uk brokers offering CFD products and spread betting? If so, will I still be able to trade the account if I return to America to visit or will it be deactivated by IP address? Thanks again!
When you move outside the US, you can trade CFDs through FXCM UK.
Spread betting is only available to residents of the UK and Ireland. Trading a spread betting account is the same as forex trading, but because of the UK spread betting tax code, UK and Ireland traders enjoy tax-free trading.
If you move back to the US, you will no longer be able to trade CFDs, since they are prohibited by CFTC regulations.