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  1. #1
    Rookie Member

    Brokers for US Traders !!!

    Hi Everyone.

    I'm taking my time finding an appropriate BO broker to sign-up with. I'm first going through the trading school on this site, and reading through the discussions, throughout.

    Please correct me if I'm wrong. My understanding is that for US traders, it's illegal to trade forex and commodity binary options (besides Nadex), but it's legal to trade stock and indices. Can anyone shed light on this? Many brokers are not open to US traders, and some are. Yet, the ones that are don't stipulate the above.

    Thanks,

    Andrew

  2. #2
    Veteran Member Dan21's Avatar
    Hi Andrew


    We already have several threads discussing the subject of binary options trading for US traders like the following three threads: The US Residents Trading with offshore brokers, Regulation, Brokers for US Traders. The subject is a bit complicated, but the simplest answer is that it is not legal to forex and commodities options with non US regulated brokers. That mean that it could be possible to trade other type of assets with non-regulated brokers, but I could not confirm hundred percentage that statement. The meaning of this law is to protect the US traders from scams and frauds, but I am not sure that it is the best way to help them just to not allow them to trade and there was a sentence on SEC website that if you trade with such unregulated brokers the risk will be on your own, which is well known.

  3. #3
    Rookie Member
    Dan, thanks much for your reply. Thanks also for the links to other threads covering this subject.
    Best wishes,
    Andrew

  4. #4
    Administrator Martin Kay's Avatar
    Quote Originally Posted by Dan21 View Post
    Hi Andrew


    We already have several threads discussing the subject of binary options trading for US traders like the following three threads: The US Residents Trading with offshore brokers, Regulation, Brokers for US Traders. The subject is a bit complicated, but the simplest answer is that it is not legal to forex and commodities options with non US regulated brokers. That mean that it could be possible to trade other type of assets with non-regulated brokers, but I could not confirm hundred percentage that statement. The meaning of this law is to protect the US traders from scams and frauds, but I am not sure that it is the best way to help them just to not allow them to trade and there was a sentence on SEC website that if you trade with such unregulated brokers the risk will be on your own, which is well known.
    Good work Dan (: Cheers, all this information in one place, you can start working here LOL

  5. #5
    Rookie Member
    Thanks for the links Dan for the links. There's some good info there.

    Andrew, as far as Nadex, yes it appears they are one of the few, if only regulated market places for binary-options-style trading in the U.S at the moment (that I am aware of). the other two being contorexchange and howwetrade. I'm in your same boat (a US trader looking to trade binaries), so if u find another broker, let me know.
    Last edited by funlol; 12-28-2013 at 10:00 PM.

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