My friend who lives outside of US plans to open a retail account for equity trading with a brokerage house in US. He worries if the broker in any case might refuse his request of fund withdrawal in the future since so many prop firms in US refuse their clients' fund wire request as complained by some on this board?
can a retail broker refuse client's fund withdrawal?
- Thread starter trend2009
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rmorse
Sponsor
As long as your dividends and interest expense are up to date, it's unlikely they would not allow transfers. Make sure you have a brokerage account/Bank account in the same name and SS# as the account, to move money to.
AML procedures can block third party transfers or any transfer that looks to be illegal. It's best to use the same bank to used when you funded the account.
Bob
AML procedures can block third party transfers or any transfer that looks to be illegal. It's best to use the same bank to used when you funded the account.
Bob