Could you restate this in terms of an American forex trader wishing to open a segregated account ? Does your statement mean that an American forex trader could open with FXCM UK and have their funds segregated? Is this legal from the standpoint of US law, taxes, and trading rules?
Yes when a trader residing anywhere in the world including the US opens an account with FXCM UK their funds are held in a segregated account. While you should check with your attorney/tax adviser for specific situations in general it is legal for a US trader to open an account in the UK from a US law, tax, and trading rule standpoint. Sincerely, David Waring Managing Director FX Business Development Forex Capital Markets LLC 32 Old Slip, 10th Floor New York, NY 10005 Tel (212) 897-7660 Fax (212) 897-7669 Email: dwaring@fxcm.com
Lorenzo What a bullshit!! Open e cry and TransAct are not Forex brokers, future brokers only Your money is in a segregate account Even if they fail your money is 100% safe They can't touch one buck! and why TransAct has been discussed here? 1. Openecry offer FX some 1 years before 2. Deposit by CFTC products are not insured as by SEC through SIPC 3. Refco story