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
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.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Regulation provides with trust in the otherwise risky industry, it gives Forex brokers framework to guide them. Licenses mean that brokers have gone through a vetting process, their legitimacy has been confirmed. Thus, making them safer in holding your money and accessing investments and financial markets. 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.
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