I'm brazilian, living in the USA for a couple of years, Found myself interested in Forex, studied a lot, bought a great training and I've been having nice results on a demo account. But before I move to the real one, I want to make sure I'm not breaking any law/regulation.
I'm looking for brokers with high leverage (200 or more), low spread and, if possible, low commission.
In my opinion there are 3 good brokers accepting US residents: Forex.com: high spread, low leverage IG.com: medium spread, low leverage FXChoice.com: medium spread, good leverage For scalping, the best combination is super low spread (6 points or less) and high leverage.
There are some brokers outside, offering much better terms.
Putting on short my questions: 1) - I'm trying to figure it out if there is a way to legally trade on one of those brokers (the ones with better terms, not accepting US residents). Maybe, because I'm brazilian, there is a way... 2) - Make sure I have all the information I need to properly file my tax when the time comes. Sometimes it's quite confusing and complex, at least to me.
I hope someone can point me the right direction to find what I need. Or maybe just tell me the kind of professional that could advise me.
regulation is a very complicated issue when choosing a broker , generally we think only regulated broker can ensure security of funds , but in practical lots of regulated brokers still cheating with their clients.
Regulation of the broker is very important aspect. Every trader should check this before choosing a broker. Payment method and timing should also be checked. Because By doing this your money will be safe with the broker. Choose your broker wisely.