I would like to start my post by stating that I feel really
sorry for every US citizen as well as resident who is forced to operate a forex
trading account from inside the US. Those who are familiar with how the US has
left no stone unturned to create the least competitive trading environment in
the global financial system will nod in agreement, newbies who are clueless
will scratch their foreheads and ignorant traders will rush to defend the
borderline unconstitutional moves enforced by US regulators.
The CFTC, which some also refer to as the Nazis of the
financial world, are basically clueless about forex trading and are angered
over the lack of control they have over the largest and most liquid financial
market in the world. In an attempt to flex a muscle which does not exist they
have created trading rules which makes trading forex an unattractive option for
US traders and US forex broker have to comply with them.
The set of rules has send waves of US traders to search for
quality off-shore forex brokers who do accept US clients as there is a growing
number of forex brokers who refuse to cater to US clients and let them drown in
their own misery. Then there is a new brand of off-shore forex brokers who do
accept US clients and their deposits in order to cheat them out of it. Before
every US based traders gives up hope the third breed of off-shore forex brokers
does not care about nationality and only cares about providing all traders with
a professional trading environment.
It is very important for US based traders to locate an
off-shore broker who accepts US clients and offers them the trading conditions
they need in order to be on par with the global competition. While US
regulators are as moronic as self-proclaimed professionals can be, US traders
should not be forced to carry the brunt of regulatory stupidity.
Why should US forex traders evaluate their broker and decide
to switch?
Every forex trader needs to answer this question for them as
there is no right answer. This post is not meant to encourage every US based
trader to flee the country, but rather to think about what is going on before
accepting it.
Look at your trading portfolio and determine if you are
satisfied with your performance trading inside the US. Should you like your
strategy and trust it fully then you could potentially earn ten times as much
by simply switching to a proper forex broker who accepts US clients and offers
a competitive trading environment.
US regulators ensured that every US trader operates in the
forex market at a disadvantage. There is a reason why every major US financial
institution has moved their trading desk outside the US in order to compete and
enjoy a truly professional trading environment.
Think about it!
Most serious and successful institutional traders do not
want to run their portfolios from inside the US regulatory misery so what makes
you think you should?
One forex broker who accepts US clients and maintains its integrity
as a company is PaxForex. They do not care about where traders are from; they
care about providing the same professional environment to all traders. Tight
spreads and deep liquidity with fast execution which means you can actually get
your orders filled at those tight spreads.
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