Can i SUE a Brokerage for refusing me because of my citizenship?

Nana Trader · Mar 6, 2004

Hi Traders,

I have applied for new account with a brokerage firm earlier,
and they told me they won't accept Iranian citizens unless i
prove that i am living and working outside Iran permanently.

They refused me once, because they said: they don't care
where or which company i work for, and work permit or
employment Visa meant nothing to them unless i can have
a proof that i am living in another country by providing legal
documents like lease contract from LandLord or utility bills
for elec, water or gas,...

I was living in my parents huge villa, since i were single,
then i had to find my own residence in order to provide
them with documents that show my home physical address.

Now after having all legal documents, They tell me:
THEY DON'T ACCEPT ANY IRANIAN CUSTOMER

I do understand some brokerer don't have service for some
countries like Tradestation, MBtrading, ... That's a differnet
case. But here they are worried that:
IF I MIGHT BE A TERRORIST ?! Or THEY ARE ACTING AS BUNCH OF STUPID RACIST?!

Can i check it trough "US Government" to see if they have
the right to turn down Iranian customers, Because "ALL
OTHER BROKERAGES HAVE NO PROBLEM ACCEPTING ME."

If yes, Which organization or financial lawers to check with?

Free Thinker · Mar 6, 2004

Quote from Nana Trader:

Hi Traders,

I have applied for new account with a brokerage firm earlier,
and they told me they won't accept Iranian citizens unless i
prove that i am living and working outside Iran permanently.

They refused me once, because they said: they don't care
where or which company i work for, and work permit or
employment Visa meant nothing to them unless i can have
a proof that i am living in another country by providing legal
documents like lease contract from LandLord or utility bills
for elec, water or gas,...

I was living in my parents huge villa, since i were single,
then i had to find my own residence in order to provide
them with documents that show my home physical address.

Now after having all legal documents, They tell me:
THEY DON'T ACCEPT ANY IRANIAN CUSTOMER

I do understand some brokerer don't have service for some
countries like Tradestation, MBtrading, ... That's a differnet
case. But here they are worried that:
IF I MIGHT BE A TERRORIST ?! Or THEY ARE ACTING AS BUNCH OF STUPID RACIST?!

Can i check it trough "US Government" to see if they have
the right to turn down Iranian customers, Because all
other brokerage have no problem accepting me

If yes, Which organization or financial lawers to check with?

"THEY DON'T ACCEPT ANY IRANIAN CUSTOMER"
if this is true you have no chance.

Nana Trader · Mar 6, 2004

Quote from vhehn:

"THEY DON'T ACCEPT ANY IRANIAN CUSTOMER"
if this is true you have no chance.

But they didn't say it first time. They told me they can
accept Iranian citizens if i show legal goverment document
that shows that i were living and working in another foreign
country and living outside Iran permanently

I have several email from them saying this, as to prove
what they had requested from me earlier

flyingdutch · Mar 6, 2004

I had no problem whatsoever with signing up with any broker in the US. But than, the relationship between the US and The Netherlands has been a little bit different then the one between the US and Iran over the past couple of years..

. I guess you're just born in the wrong country... out of luck. Try changing citizenship. Might also help if one day you wanna do business in other parts of the world.

Good Luck

TFD

msfe · Mar 6, 2004

Quote from flyingdutch:

Try changing citizenship.

TFD

Nederlander worden

Als u al lange tijd in Nederland woont, hier bent geboren of oud-Nederlander bent, kunt u wellicht Nederlander worden door optie.Volg de procedurewijzer â optieâ voor informatie over de voorwaarden en procedure.

Als u een bepaalde tijd in Nederland woont, kunt u zich laten naturaliseren tot Nederlander. Daarmee krijgt u de Nederlandse nationaliteit en kunt u onbeperkt in Nederland verblijven. U heeft vanaf dat moment ook dezelfde rechten en plichten als een Nederlander.
Volg de procedurewijzer ânaturalisatieâ voor informatie over de voorwaarden en procedure.

Hebt u al eerder de Nederlandse nationaliteit gehad en wilt u die weer terug? Lees dan niet hier verder, maar kijk bij de procedure Oud-Nederlander.

http://www.immigratiedienst.nl/ - Ik wil Nederlander worden

pspr · Mar 6, 2004

I think they want to be sure they have the legal right to collect damages in court should the situation arise. They probably can't in Iran or they feel the security of trying to collect a judgement in Iran would be difficult.

I doubt that you have any recourse to force them to allow you to open an account.

Nana Trader · Mar 6, 2004

Quote from msfe:

Nederlander worden

Als u al lange tijd in Nederland woont, hier bent geboren of oud-Nederlander bent, kunt u wellicht Nederlander worden door optie.Volg de procedurewijzer â optieâ voor informatie over de voorwaarden en procedure.

Als u een bepaalde tijd in Nederland woont, kunt u zich laten naturaliseren tot Nederlander. Daarmee krijgt u de Nederlandse nationaliteit en kunt u onbeperkt in Nederland verblijven. U heeft vanaf dat moment ook dezelfde rechten en plichten als een Nederlander.
Volg de procedurewijzer ânaturalisatieâ voor informatie over de voorwaarden en procedure.

Hebt u al eerder de Nederlandse nationaliteit gehad en wilt u die weer terug? Lees dan niet hier verder, maar kijk bij de procedure Oud-Nederlander.

http://www.immigratiedienst.nl/ - Ik wil Nederlander worden

I don't know what you'r discussing with "flyingdutch".
His advice to me is based on Positive intention to help
me out only and i thanks him.

But no way i will change my citizenship and stay faitfull
to my country, even it's governed by bunch of so-called
religious MOTHER FXXXERS.

This Brokerage forced me move to another residence for
some time, but won't separate me from my country,
though i haven't lived there for a long time now.

Nana Trader · Mar 6, 2004

Quote from pspr:

I think they want to be sure they have the legal right to collect damages in court should the situation arise. They probably can't in Iran or they feel the security of trying to collect a judgement in Iran would be difficult.

I doubt that you have any recourse to force them to allow you to open an account.

Can you tell me why this is the only brokerage who that i
know enforcing this law?

harrytrader · Mar 6, 2004

In France there is an antiracism law that you could use in US I don't know

. For fun you can always sue them, but I doubt that your account will be secure with them after such refusal

.

Quote from Nana Trader:

Can you tell me why this is the only brokerage who that i
know enforcing this law?

Nana Trader · Mar 6, 2004

Quote from harrytrader:

In France there is an antiracism law that you could use in US I don't know . For fun you can always sue them, but I doubt that your account will be secure with them after such refusal .

I am not doing it for fun, because i have to give it time.
I want to set an example for other nationalities who
face similar problem and not to keep quite.

Even i might not succed here, but i will damage their business
seriously over time, turning away hundreds of their customers
here

and those hundred customer will turn away another thousands
customer from them in long term