Upon further investigation, DukasCopy allows you to keep your funds in a segregated Swiss account, of which there are US banks that are registered as such. So that seems like an actually safer place than US brokers, which do not allow you to segregate your accounts (as I understand).
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Are US citizens allowed to trade FX with foreign brokers?
- Thread starter PlusMinus
- Start date
Upon further investigation, DukasCopy allows you to keep your funds in a segregated Swiss account, of which there are US banks that are registered as such. So that seems like an actually safer place than US brokers, which do not allow you to segregate your accounts (as I understand).
I have tried to get the pertinent information regarding these segregated accounts from Dukas but they have NEVER come thru with the info. Unless someone can verify the use of these accounts I can only assume it is false info to give you the impression of their upstanding business-like operation. And based on their list of operational staff, I would need that option if I were to trade with them. (BTW - Have you ever seen these guys on CNBC Europe? Some of them come across as lounge lizards.)Quote from PlusMinus:
Upon further investigation, DukasCopy allows you to keep your funds in a segregated Swiss account, of which there are US banks that are registered as such. So that seems like an actually safer place than US brokers, which do not allow you to segregate your accounts (as I understand).
Quote from bpcnabe:
I have tried to get the pertinent information regarding these segregated accounts from Dukas but they have NEVER come thru with the info. Unless someone can verify the use of these accounts I can only assume it is false info to give you the impression of their upstanding business-like operation. And based on their list of operational staff, I would need that option if I were to trade with them. (BTW - Have you ever seen these guys on CNBC Europe? Some of them come across as lounge lizards.)
Interesting, thanks for the viewpoint. Who do you trade with if you don't mind me asking?