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comintel

Registered: Jun 2008
Posts: 1119

09-21-12 09:25 AM

Consider that the real unstated reason may well be that regulators in your respective home countries have passed laws regulating foreign brokers who serve citizens of your country.

This is the usual reason. I think this applies to Australia.

Many countries have recently done so, including the U.S. in respect of non U.S. brokers soliciting its citizens (the inverse situation).

In other cases (some South American and other countries) the U.S. may be the one restricting money transfers to some countries, or imposing onerous verification liabilities on the broker and its bank, for various reasons related to sanctions, tax reporting, prevalence of money laundering etc.

Usually to avoid getting into detailed policy discussions that the representative really cannot deal with, the broker will just say it is for "business reasons."

Your best bet is to switch to a broker that already has a branch in your country, or is otherwise approved by your home country to operate there (e.g. has a branch in another European country in the case of the E.U.)

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malaspina

Registered: Oct 2009
Posts: 23

09-21-12 01:06 PM

Hello dear members,

What do you think about CANNON TRADING, (futures broker), website: www.cannontrading.com ?.

Please let me know, I am still looking..., testing platforms, looking at reviews, etc, etc, etc. What a time killer ....

Regards,

Malaspina.

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IB Salvatore

Registered: Dec 2003
Posts: 161

09-22-12 08:41 AM

Interactive Brokers is an option for Australian customers and probably every other country targeted by this mass force closure. While we are not privy to the TD timeline, we will do everything possible to assist customers transferring under a deadline. Please make sure to alert your new account specialist at Interactive that you are a TD customer. We will do ever thing allowed under the various local regulatory rules to fast track account openings for affected customers.

Please contact a local sales person if we can help you.
http://institutions.interactivebrok...&ib_entity=inst

Good luck.

Salvatore

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