it is because the US gov't realizes a US dollar is not worth a dime. it is introduction to currency and capital controls before a future run on the dollar
Anyone knows why usa residents can't open forex account in hotforex or other brokers?
- Thread starter jetq
- Start date
Give it a rest, good grief! You're like a broken record, always repeating outdated crap.
The US Dollar is behaving like crazy, seems investors aren't looking at the events or FOMC or FED either could not help much but they are looking at the newly elected Trump's executive orders.
we shall see.
"outdated crap" becomes many a time tomorrow's gem/future in the real world. by the way there is already a semblance of capital controls as foreign financial institutions already refuse to open accounts for americans. let's see if US companies repatriate overseas profits. my guess at most they will send back a token amount. most treasurers know that these monies will be like heading into a roach motel.
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new brokers tend to allow usa sign ups. eventually they get a letter from the usa government threatening court action and so then close the door to usa clients. Some will allow existing traders to stay, some close the accounts. it doesn't have to be a bucketshop that will allow usa clients. Go for newer brokers if you want to trade outside of the usa legislation 
That is nonsense. America blocks its own citizens from also trading certain futures options. Has nothing to do with gambling. Has to do that the so called country of freedom and individual free choices puts its own citizens into shekels more than any other industrialized nation. And because most regulators are morons who are behind the curve or outright stupid and don't comprehend the big picture or both. Another big reason is that regulators made reporting requirements so complex and unreasonable that even American and international investment banks kicked all their American expat clients off their wealth management platform. It's simply too much work and infringes on privacy rights that go way beyond just tracking down tax fugitives. The culprit here is the US weird taxation on global income which is unique in the world. All the above combined make it prohibitively expensive for many foreign firms to offer financial services to Americans, inside and outside the US
It is crap and here is why: the US dollar is freely tradable and convertible. Any foreign entity and sovereign can dump the US dollar or dollar denominated assets which would kick the US dollar in its behind. None of the regulatory decisions to prevent US residents from trading cash fx has anything to do with the US dollar or limiting a future impact on the US dollar.
When a system gets out of control it tends to start playing against you. It concerns to great extent forex brokers where transparency would be a great fix to the industry. I'm not talking about Hotforex or other reputable brokers which stick to the best industry standards, but bucketshops have very loosened regulator rules to comply so you are basically remain highly unprotected when trading with whatever trading skills you have
well its more of a US gov thingy, i mean the US gov wont allow brokers to conduct business with their citizen, trying to maintain the funds with in the local countries brokers etc, or under strict taxation. so basically, its the gov that wont allow it, or should i say us regulations.