My understanding about brokers for U.S. residents, is that they need to be regulated, and that there may be legal issues using brokers outside of U.S. or brokers not regulated by U.S. regulatory authorities.
What are the legal ramifications of using non-regulated brokers?
Also, any other pitfalls? For example, can you lose more money than what is in your account?
It sounds good to not have to abide by FIFO, and have 500:1 leverage, but I'm not clear on what the legal issue, if any are, and what else might be involved.
Anyone have any experience with this?
What are the legal ramifications of using non-regulated brokers?
Also, any other pitfalls? For example, can you lose more money than what is in your account?
It sounds good to not have to abide by FIFO, and have 500:1 leverage, but I'm not clear on what the legal issue, if any are, and what else might be involved.
Anyone have any experience with this?