What if the new MT5 comes along?

[ilearn2t]

Hello Everyone

Since the beginning of this thread I lost a few months, so is a trader in the USA not allowed to trade in a brokerage firm that is not based in the US?

If they are not allowed (which the thread now seems to point towards) does the trader have to open an off shore account for this kind of trading?


Good luck
ilearn2t

[CCC000]

i believe so much problem will be no hedging no scalping nothing just loss your money yes i believe you will have to make an offshore account

[RahmanSL]

"....does the trader have to open an off shore account for this kind of trading?"

As long as they reside in the US-of-A, they are not supposed to trade with a none US-of-A broker. But many do so....and tried not to be caught out!

And for those US-of-A traders dumped by their brokers because of the new NFA laws, they have been rumored to be wandering around completely dazed and lost.

At time of writing (which has not been substantiated in anywhere), it is rumored that sales of offshore barges has dramatically increased in the US-of-A which are being towed and anchored just outside of territory waters and turned into offshore trading centers for US-of-A day traders.

As for "no hedging & scalping allowed" under the NFA new laws, it is also rumored that the sales of tobacco & alcohol has dramatically increased since that law came into effect.

[ilearn2t]

Hello RahmanSL

Thanks! so if I move to the US, I can still trade with any broker as I'll still be a UK citizen.

But US citizens can't be seen to be using any non-US broker regardless of how they fund & withdraw from account.

Thanks
ilearn2t

[FXOpen Manager]

everyone will committe suicide
for real i am just amazed why some trade go to US brokers !
just why ???

Because they are residents of USA and it is illegal for them to use non -US based brokers.

[FXOpen Manager]

As I understand Dodd Frank's act, any resident of US should follow it.Resident is not just citizen of the country. I guess it is better to check with the lawyers.

[RahmanSL]

Yup, FxOpen Manger is most correct and I am not incorrect either with my post: "As long as they reside in the US-of-A, they are not supposed to trade with a none US-of-A broker."...which means even that alien Orang-Utan residing in one of the great US of A zoo cannot use a foreign broker to trade the forex

But, gals & guys, you may read this up over at "100 Forex Brokers" site under "New NFA Rules" (middle right hand corner of web site)...or just Google search the information (on some sites, bring a 12 gauge shot gun to blast the swamp of pop-ups all begging to set cookies into your computer).

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....and FxOpen Manger is so smart by using two posts for replies!....hmmmm, excellent idea!

[vikoko]

do any thing but let us not to down to US law because it will cause so much trouble to small capital traders

US regulatory bodies should know that Rome wasnt built in a day.They should take it easy.

[donies]

I do not really understand why USA goverment took that action, cause in my opinion make a lot of rectriction in Metatrader 5 only make trader who want to trade in forex are become uncomfortable

[berich]

I may be wrong but for me, I don't see any big difference between an MT4 and MT5 platform they are almost alike.