Wednesday, December 18, 2013

Forex Brokers for US Traders

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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