Hey all,
Trying to figure out my situation opening a new FX account. I am still a US citizen but now live in Europe. I don’t want to skirt any laws, and am unsure whether I still need to trade via a US regulated broker, or am I finally free?
I think when you are “abroad”, you should abide by the laws of the land you reside in.
I’m thinking the rules are to restrict teh brokers - from trading with US Residents ? rather than US citizens ?
For example as a UK Citizen, if I lived in teh US I would expect to be prevented from on-line gambling (ALthough it would annoy me intensly) and expect to have to trade with your restricted brokerages.
The only snag I can see is that your “Proof of ID” will show you as a US Citizen ?
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it depends where your permanent residency is. US citizen aswell can trade FX the way european do when the open a account in europe. you are free to let your local authorities know if you got that account or not, they can not check it on you. if you earn and hide the account you are doing tax fraud, if you lose noone cares. rule of thumb, USA doesnt know what youre doig in europe as long as you dont generate big profits which you then spend in USA.
my advice, go on open one and dont worry about Us regulations uless you make big enough money to have a reason to worry whe you do money you can always leaglize it with help of tax consultants etc.
usually acount openings with repuatable brokers it is required to check you on your US laws, they ask you questions on your status if you lived in USA and if you have any trading connection activities in usa, the questions are designed to find out if you are allowed to open one or not. if your broker (a reputable one) grants you account after asking all those question then its very likely you have no issues anymore with the ever boring american tax offices-.
I think that brokers have concerns for residency and not for citizenship. So as a US citizen living in Europe, you could be able to open an account with any broker outside US, you are not obliged to strictly operate with US brokers. If you can provide the necessary documents to prove your residence I think you will not have an issue, basically you will be free 
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Hi @Mase31683
Only CFTC and NFA-regulated brokers are authorized to offer forex trading services in the US. However, these rules are based on where traders live, not their citizenship. For example, since you reside in Europe, you are welcome to trade through FOREX.com’s UK entity regulated in London by the FCA.
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Thank you, that’s great news
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