Jason, what happens if I deposit funds into my new FXCM US account with a valid credit card in my name, and that credit card is later canceled completely or replaced with a new credit card number (due to loss or theft of the original credit card)? ...

FXCM Discussion

Jason, according to the FXCM withdrawl form (for standard 10K accounts), the Online Deposit (ACH/EFT) option is listed as being available for US (as well as AUD) clients...is this option still available?

FXCM Discussion

If you mean for FX trading purposes, then only until July of 2011. The Frank-Dodd financial "reform" law will prohibit foreign banks from being FX counterparties for US-based traders effective in July of 2011.

US citizens won't be able to have forex accounts overseas

Doesn't signing up as an institutional trader require higher deposits with FX brokers?

What will US citizens do now with 50:1 leverage?

Pidgeon, more info in the following posts: url url It's not just CFTC rules, but also what the Frank-Dodd financial "reform" law says. According to the CFTC letter in the second post, the law will prohibit (for US traders) foreign banks from ...

What will US citizens do now with 50:1 leverage?

GoMarkets is still accepting US clients, however, they have posted this notice on their account opening page: "Applicants from outside Australia, especially the United States of America must check their local laws and regulations before applying for ...

What will US citizens do now with 50:1 leverage?

I had an EA that opened two trades during the very brief moments the server was responding to orders between 02:05 and 02:30...and then when the server was restarted at about 02:35-02:40, these two trades simply vanished! No record whatsover of them ...

GoMarkets Discussion

Leche, the problem is, the Frank-Dodd financial "reform" law may have made it illegal (effective October 18th) for US traders to trade at overseas FX brokers that are not registered with CFTC/NFA. I'm not yet 100% positive about this, but other ...

FXCM Discussion

fxsignal, can you then tell us what other FX brokers are available for US residents that might be better than FXCM? (Unless you happen to be a non-US resident.) Seriously, there are not that many good US-based FX broker/bank options that offer MT4 ...

FXCM Discussion

So in my case, it depends on how much initial capital I'm willing to invest when I relocate back to a US broker from an offshore broker. Starting with $10,000 (CitiFx's minimum starting deposit) or greater is not a good idea for those traders who ...

FXCM Discussion

Among banks offering retail FX, CitiFx does offer US-based FX accounts (with a $10K minimum starting deposit) for US citizens/residents (I recently confirmed this with CitiFx). These US accounts are FDIC-insured (an advantage over FXCM US). But for ...

FXCM Discussion

No way, I'm not going anywhere near that. Consider what happened earlier this year with Swiss bank UBS (some of their American clients were indicted for tax evasion related to their offshore accounts at UBS). I will be consulting with a tax ...

GoMarkets Discussion

As a US citizen/resident using a GoMarkets account, I guess one catch is when I deduct any FX losses on my US income tax return, and get audited by the IRS: IRS may notice that I'm using GoMarkets and if GoMarkets is considered to be an "outlaw" ...

GoMarkets Discussion

Just saw a CFTC letter at url Based on what I understand from that CFTC letter, I think US residents will no longer be able to use FXCM UK effective October 18th, since FXCM UK is a foreign affiliate of FXCM US. Correct me if I read it wrong...

FXCM Discussion

So my interpretation of that CFTC letter is as follows: 1) I will no longer be able to use my FXCM UK account as of October 18. 2) I can still use GoMarkets for now, since GoMarkets is not a foreign affiliate of an US FCM. However, GoMarkets client ...

no regulations stopping US residents from opening offshore accounts

I am using GoMarkets as my broker and I'm a U.S. citizen...while it is good that GoMarkets is unlikely to kick me out, the problem is the CFTC could decree that U.S. citizens can't use overseas brokers (that are not registered with CFTC), making it ...

GoMarkets Discussion