Echo Trading

Quote from Big Game Hunter:

Hi fellas... Can anyone confirm whether its still possible for a non US resident to trade with them remote? The idea would be to deposit x amount and receive good leverage like there was pre tuco time. It seems that certain firms are no longer allowing clients from outside the U.S to trade allegedly because of concerns about SEC hooplah concerning Tuco. Anyway can anyone confirm if its still possible to get deals based on deposits for leverage with sub 25k amounts for people with series 7? Thansk guys.
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Any ideas on this guys?
 
Quote from Big Game Hunter:

... Can anyone confirm whether its still possible for a non US resident to trade with them remote? ...
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You are presuming that they accept all US residents. Nothing could be further from the truth. As a Nevada resident, I found out a year ago that they don't cater to my ilk. Likewise for Massachusetts and some other states. The reason I was told was that it was not cost-beneficial.

But according to their website, they allow traders "full access from virtually anywhere in the world", so you should be right.
 
Quote from Mr Subliminal:

The reason I was told was that it was not cost-beneficial.
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How does that work though?

If they pay 0.001/share and they charge you 0.003/share and you trade, say, 2million shares a month, wouldn't they make $4000/month from you in commissions regardless of where you trade geographically?:confused: :confused:
 
It has nothing to do with individual trading volume, but rather the combination of low demand and high state government regulatory fees. Supposedly.
 
Quote from Restricted:

I don't necessarily think their fees are any higher, depends on your volume like anywhere else. Been there 3 yrs, very responsive and solid individuals. Highly recommended.
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like what commissions?
 
Quote from Big Game Hunter:

Hi fellas... Can anyone confirm whether its still possible for a non US resident to trade with them remote? The idea would be to deposit x amount and receive good leverage like there was pre tuco time. It seems that certain firms are no longer allowing clients from outside the U.S to trade allegedly because of concerns about SEC hooplah concerning Tuco. Anyway can anyone confirm if its still possible to get deals based on deposits for leverage with sub 25k amounts for people with series 7? Thansk guys.
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can you be series 7 licensed without being a us resident/citizen?
 
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