HotForex - World Leader in Financial Trading
RedDuke likes this. Outside US Forex firms follow different accounting procedures than what is dictated by regulators here, not to mention other compliance issues that are related to funds, segregation, etc. Its not only the items mentioned above. It doesn't matter if its FX, Equities, Bonds or anything else. Americans are not welcome abroad because of the amount of bureaucracy and hassle it takes to both onboard and maintain Americans as clients.
We're not talking KYC here. We're talking paperwork beyond that, on the brokers side, for reporting etc. A large part of it comes down to the worldwide taxation policy the US has, hence the IRS wants to collect data on what its citizens are up to abroad. Live chat is not available at the moment please try again later. Member of HF Markets Group. Toggle navigation.
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Anyone knows why usa residents can't open forex account in hotforex or other brokers?
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