FXCM Restrictions on U.S. Residents

Broker Discussion Forex Brokers
1

FXCM: are you currently a US resident

me: yes, U.S.

FXCM: unfortunately our CFD products including Gold

FXCM: are not available for trade by residents of the US

me: do you offer UK accounts to U.S. residents?

FXCM: new regulation that will limit US residents from having accounts over seas

FXCM: we are no longer accepting UK applications from US residents as a result of the regulations

FXCM: they will take place for all US residents on October 18th

FXCM: we are starting the preparations to make sure we are in compliance

me: is that a regulation in the UK ? or in the US ?

FXCM: US

FXCM: you can use the UK based demo

FXCM: you can register for it at Forex Trading | Currency Trading | Forex | Forex Broker | FXCM

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For those of us who are U.S. residents and have FXCM-UK, FXCM-AU, or FXCM-Asia accounts, our accounts are being “repatriated” (moved back to FXCM-US) prior to Oct 18.

Here is a portion of an email I received a while back from FXCM, giving the details:

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3

I was hoping at some point when I get good enough at this to escape our overbearing interfering big brother is watching you government by moving my account offshore. That eliminates FXCM from consideration.

I’ve been way past the age of 21 for a long time and don’t need no nanny holding my hand.