Finding a Foreign Broker for a US citizen
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Thread: Finding a Foreign Broker for a US citizen

  1. #1
    EsraxndaGwrres
    Guest
    Due to the new regulation in the US, I needed to close my overseas accounts. However, I was wondering what would be the perfect way to acquire an overseas fx account. I'm a US citizen but I have a double citizenship from my native state. Would anyone like to give me some advice?

  2. #2
    jiesnesnTknua9
    Guest
    Anyone has information about FXOpen broker?

  3. #3
    esSbesgarSuz
    Guest
    I've live account with fxopen.com and once I deposited cash, it took me 1 minute to move.
    I have been withdrawing cash for about ten days nowthey keep it pending still. Don't stress however small amount is an issue for them.
    Among many brokers that I'd the sole http://www.upfx.com is your best. I never had a problem with them. They're transparent, instant executions, honest and easy going STP.
    In http://www.fxopen.com I am on DD however they have ECN and that I know nothing about it.

  4. #4
    esSbesgarSuz
    Guest
    As much as I know http://www.liteforex accepts US taxpayers and is overseas.
    I don't get these foreign brokers, its a mess anywhere: some take, some maybe not.

  5. #5
    ToresStes_esSo
    Guest
    Quote Originally Posted by ;
    I already asked this on the forum.
    Looks like everyone scared to discuss it or don't care.
    Check all of the brokers on the Internet and you will find.
    This policies are a puzzle for many including myself.
    It pays you to do a little more research, but the following link is most likely the best you are likely to get for today. It's being updated every one or two days, as more foreign brokers are falling US clients.

    Http://forums.babypips.com/rate-my-b...e-cftc-97.html

    One thing that I noticed (in the link) is that most of the ones that still accept US clients and SEEM to be controlled by a foreign authorities have greater spreads over the majors.

    If you would like to have a chance to get a foreign broker that is not controlled, my recommendation is to begin with a small account and draw the profits every one or two weeks. Beginning with a small account regularly withdrawing profits at least gives you an notion of their order fills, requotes, slippage, etc., and also just how quickly you're able to get your profits.

    I wouldn't was not time with a MT4 demo since I've read here that order matches, slippage, requotes are far different than a live account.

    I share your pain, trader!

    Good luck

  6. #6
    You will need to set up residency in the loion in which you have double citizenship. Ie: address, utility bill .

    However, IF you have an current passport in the other country you may try using for the account using that, give them a relataives speech and inform them you are just seeing the US for work.

    They may be more lenient on you because of this double citizenship.
    Although do not take my word for this.
    The very first sentence I understand to be authentic.
    DYODD
    G/L
    / /
    Quote Originally Posted by ;
    Because of this new regulation in the US, I had to shut my overseas accounts. However, I was wondering what would be the best approach to obtain an overseas fx account. I'm a US citizen but I've got a double citizenship from my native country. Would anyone want to give me any advice?

  7. #7
    wurod2k8
    Guest
    Quote Originally Posted by ;
    Because of the new regulation in america, I needed to close my foreign accounts. However, I had been wondering what is the best way to acquire a fx account. I've got a dual citizenship out of my country although I am a US citizen. Would anybody want to give any advice to me?
    If you've got dual citizenship, then why not renounce your American one anyhow? After all, it doesn't really matter does it? The average Joe is getting it in the butt from the politicians in Congress that ransack your authorities like there's no tomorrow. Unless things change, I don't really see any viable future for America. Finest bet is stay there while you can if you still have some type of work, then renounce your American citizenship after SHTF and move to the other country where you are considered their taxpayer.

    Since you are a dual citizen, are you by any possibility Filipino? The Philippines is the only country I know so much that considers citizenship to be by virtue of birth/blood and not from the place.

  8. #8
    It's Predied on RESIDENCY not CITIZENSHIP.

    A lot of men and women make this mistake because particular brokers will flip any american away... this will not change the rule.

    Should you attempt the passport trick they will only refuse to start the account once you use an American bank to fund the account with whenever they're playing with the true rule.

    If you are that place on breaking the principle loe a broker that will accept anybody, nevertheless it will likely only be a matter of time until you're forced to again close another account.

  9. #9
    wurod2k8
    Guest
    Quote Originally Posted by ;
    It's based on RESIDENCY not CITIZENSHIP
    I Visit. Thanks for clearing up that. Although I don't see any difference once you just have to legally say that your permanent residency is outside of the country in order to trade foreign currencies.

    Whatever the situation, this is indeed a hassle for American traders who wish nothing more than to invest and increase their net worth.

  10. #10
    esSbesgarSuz
    Guest
    I already asked this on the forum.
    Appears like everyone scared to discuss it or don't care.
    Check all of the brokers on the Internet and you will find.
    This coverages are a puzzle for many including myself.

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