If I am a US resident but use a broker outside the US which accepts US clients are my winnings technically illegal if my broker doesn’t abide by maximum leverage, FIFO, and hedging/netting laws? Or if I trade with an unregulated broker at all is that illegal? As long as I pay taxes on my winnings right? Thanks in advance.
There is a fact that with a reliable license from regulatory agency, brokers will be safe to work with even if there is a bankruptcy of brokers or there are losses of clients’ funds and profits. In short, regulated brokers are always recommended. #brokersguru #FanaraFilippo #best_forex_brokers
CMBT has a highly detailed regulatory structure derived from the global norms of capital market regulation, which is visible in the way the Turkish regulators regulates its Forex brokers as well as other financial market participants. Forex regulation serves to provide a level playing field for all participants. Many of today’s retail traders are trading with forex brokers located in countries far away from their own. The only means of protection these traders have is the forex regulatory bodies. Forex brokers usually launch with regulation in only a single country. Obtaining such regulatory approval is usually not an easy achievement, especially in jurisdictions with stricter regulation. New brokerages typically start with regulation in a single country and will then seek to gain regulatory licenses in other countries where they wish ... Forex is the largest, most liquid market on the planet. That size and scope creates unique challenges regarding market regulation. How do you regulate a market that is trading 24 hours a day, all over the world? Forex regulation in the USA. After the United Kingdom, the United States is the 2nd most important sales desk, with 19.5% of the global OTC Foreign Exchange turnover between April 2013 and April 2016. CFDs and spread bets are banned for retail traders in the US, so spot Forex is very popular and tightly regulated.
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