Can i SUE a Brokerage for refusing me because of my citizenship?

Discussion in 'Professional Trading' started by Nana Trader, Mar 6, 2004.

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  1. Hi Traders,

    I have applied for new account with a brokerage firm earlier,
    and they told me they won't accept Iranian citizens unless i
    prove that i am living and working outside Iran permanently.

    They refused me once, because they said: they don't care
    where or which company i work for, and work permit or
    employment Visa meant nothing to them unless i can have
    a proof that i am living in another country by providing legal
    documents like lease contract from LandLord or utility bills
    for elec, water or gas,...

    I was living in my parents huge villa, since i were single,
    then i had to find my own residence in order to provide
    them with documents that show my home physical address.

    Now after having all legal documents, They tell me:

    I do understand some brokerer don't have service for some
    countries like Tradestation, MBtrading, ... That's a differnet
    case. But here they are worried that:

    Can i check it trough "US Government" to see if they have
    the right to turn down Iranian customers, Because "ALL

    If yes, Which organization or financial lawers to check with?

    if this is true you have no chance.
  3. But they didn't say it first time. They told me they can
    accept Iranian citizens if i show legal goverment document
    that shows that i were living and working in another foreign
    country and living outside Iran permanently

    I have several email from them saying this, as to prove
    what they had requested from me earlier
  4. I had no problem whatsoever with signing up with any broker in the US. But than, the relationship between the US and The Netherlands has been a little bit different then the one between the US and Iran over the past couple of years..:). I guess you're just born in the wrong country... out of luck. Try changing citizenship. Might also help if one day you wanna do business in other parts of the world.

    Good Luck

  5. msfe


    Nederlander worden

    Als u al lange tijd in Nederland woont, hier bent geboren of oud-Nederlander bent, kunt u wellicht Nederlander worden door optie.Volg de procedurewijzer ‘ optie’ voor informatie over de voorwaarden en procedure.

    Als u een bepaalde tijd in Nederland woont, kunt u zich laten naturaliseren tot Nederlander. Daarmee krijgt u de Nederlandse nationaliteit en kunt u onbeperkt in Nederland verblijven. U heeft vanaf dat moment ook dezelfde rechten en plichten als een Nederlander.
    Volg de procedurewijzer ‘naturalisatie’ voor informatie over de voorwaarden en procedure.

    Hebt u al eerder de Nederlandse nationaliteit gehad en wilt u die weer terug? Lees dan niet hier verder, maar kijk bij de procedure Oud-Nederlander. - Ik wil Nederlander worden
  6. pspr


    I think they want to be sure they have the legal right to collect damages in court should the situation arise. They probably can't in Iran or they feel the security of trying to collect a judgement in Iran would be difficult.

    I doubt that you have any recourse to force them to allow you to open an account.
  7. I don't know what you'r discussing with "flyingdutch".
    His advice to me is based on Positive intention to help
    me out only and i thanks him.

    But no way i will change my citizenship and stay faitfull
    to my country, even it's governed by bunch of so-called
    religious MOTHER FXXXERS.

    This Brokerage forced me move to another residence for
    some time, but won't separate me from my country,
    though i haven't lived there for a long time now.
  8. Can you tell me why this is the only brokerage who that i
    know enforcing this law?
  9. In France there is an antiracism law that you could use in US I don't know :D. For fun you can always sue them, but I doubt that your account will be secure with them after such refusal :).

  10. I am not doing it for fun, because i have to give it time.
    I want to set an example for other nationalities who
    face similar problem and not to keep quite.

    Even i might not succed here, but i will damage their business
    seriously over time, turning away hundreds of their customers

    and those hundred customer will turn away another thousands
    customer from them in long term
    #10     Mar 6, 2004
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