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Broker and regulations
Feb 13, 2021 at 22:42
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.
Thanks for your attention.
All the best
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.
Thanks for your attention.
All the best
Uczestnik z Jul 23, 2020
696 postów
Feb 14, 2021 at 17:20
Always choose regulated broker and test their services like spreads, leverage through demo account before investing any money.
Feb 14, 2021 at 17:38
Quange posted:
The broker Amarkets offers good, high-quality, and most importantly effective bonuses, and you can find any suitable option for yourself.
If you try to create an account it says "This region is not available for registration", because I'm in the USA
Uczestnik z Jul 19, 2020
742 postów
Feb 21, 2021 at 02:40
Brokers have a lot of help in achieving trading success, but if that broker does not provide you the right service, you will never be able to make a successful trading.
Uczestnik z Jun 26, 2020
323 postów
Feb 21, 2021 at 04:40
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.
Uczestnik z Jul 19, 2020
749 postów
Feb 21, 2021 at 06:16
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.
Uczestnik z Aug 27, 2017
875 postów
Feb 21, 2021 at 08:29
without using practically thats really difficult to recommend at any broker , because right now so many brokers are available in this market place.
keeping patience.......
Uczestnik z Dec 05, 2020
76 postów
Feb 24, 2021 at 06:48
bax699 posted:
In my opinion all retail traders will have to use offshore brokers if they want to use and decent leveraged accounts. The governments will put in rules to push the average retail trader out of the markets using higher leverage
I'd rather prefer regulated broker with low leverage than offshore with more leverage.
Uczestnik z Dec 17, 2020
9 postów
Mar 23, 2021 at 09:53
I’m sure you’ll find some reputed brokers that provide lower spreads for trading. Make sure you go with platforms that suit your trading needs.
Uczestnik z Jul 19, 2020
310 postów
Mar 25, 2021 at 12:59
Regulations of a broker is very important. Before selecting a broker everyone should check its regulation very careful. Non regulated broker can create problem. That's why it's wise to choose a good regulated broker.
Uczestnik z Jul 23, 2020
816 postów
Mar 25, 2021 at 13:06
bax699 posted:
In my opinion all retail traders will have to use offshore brokers if they want to use and decent leveraged accounts. The governments will put in rules to push the average retail trader out of the markets using higher leverage
Using high leverage risky. Newbie should avoid using it.
Uczestnik z Jan 07, 2021
15 postów
Apr 08, 2021 at 09:34
I’m sure you will find brokers with a high leverage and if they meet all your trading needs, you should open an account with them.
Uczestnik z Mar 17, 2021
494 postów
Apr 14, 2021 at 18:24
Daniel993 posted:
Regulation is important in a broker, and trading with either an ASIC or FCA brokers like FP Markets or FXCM, in my personal opinion is a good choice for traders.
There are many fake brokers in the market. So, you should be very careful at the time of choosing broker for you.
Uczestnik z Apr 03, 2021
437 postów
Apr 14, 2021 at 23:01
Regulation is an important factor when choosing a broker, but as I know not all brokers that regulated outside the US do not accept clients from US residents, maybe because of different rules in regulation, I don't know. now I use FXOpen as I know regulated in ASIC, FCA, and Cysec, already 15 years in the market.
Uczestnik z May 13, 2020
119 postów
Apr 15, 2021 at 07:49
Based on the experience of working with different brokers, I can say that Amarkets wins on many points and is quite safe, especially in terms of withdrawing funds, which can be carried out 24/7.
Uczestnik z Oct 16, 2020
125 postów
Apr 15, 2021 at 11:04
Daniel993 posted:
Regulation is important in a broker, and trading with either an ASIC or FCA brokers like FP Markets or FXCM, in my personal opinion is a good choice for traders.
FP markets is a good broker but it doesn’t provide trading services to residents of the US.
