Can forex brokers target specific accounts


Can I have two forex accounts with the same broker?

You can use 2 accounts with the same broker as a work around on FIFO or or hedge restrictions.


Why do most forex brokers not accept US clients?

The reason for this is quite simple – capital requirements. While a broker has to have around $100,000 – $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US – 20 million dollars.


Can I legally trade forex for someone else?

The short answer is: no. You can’t trade stock for someone else. That’s illegal unless you’re an investment professional. There are a lot of legal requirements to manage other people’s money.


Which account is best for forex trading?

The Best Forex Trading Platforms for BeginnersIG – IG web platform.AvaTrade – AvaTrade WebTrader.Capital.com – Capital.com web platform.eToro – eToro CopyTrader.Plus500 – WebTrader.CMC Markets – Next Generation.TMGM – MetaTrader 4.


Do forex traders pay tax in USA?

FOREX. FOREX (Foreign Exchange Market) trades are not reported to the IRS the same as stocks and options, or futures. FOREX trades are considered by the IRS as simple interest and the gain or loss is reported as “other income” on Form 1040 (line 21). No special schedules or matched trade lists are necessary.


Which forex broker is legal in USA?

Best Forex Brokers US ComparisonForex BrokerAccepts US ResidentsAverage Spread EUR/USD – StandardIGYes0.828FOREX.comYes1.100


Can I manage my parents brokerage account?

You can have all these piles of money under your management. That is, your parents and brother should each maintain separate brokerage accounts from yours, and then give you the authorization to trade (but not withdraw from) their accounts.


Can you trade for friends and family?

The Short Answer. While the gears in your head are spinning, let me state the answer in its simplest form: You cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license.


Can you hire a forex broker?

Once you’ve decided on a forex broker, you can hire them. Remember that you should not hire an unqualified broker. A broker should be registered and regulated in your country. A broker should also be fast enough to fulfill orders.


Do forex brokers lose money?

Most Forex traders fail. This is fact. As stated, the consensus on the conservative side is that 70% to 80% of all Forex traders lose money and this number can go as high as 90%!


Can I trade forex without a broker?

Financial Sector Conduct Authority (FSCA) As a South African forex trader, you aren’t required to deal with an FSCA-regulated broker, but it provides you with an added level of security.


What is the best leverage for beginners?

1:10 leverageWhat is the best leverage level for a beginner? If you are new to Forex, the ideal start would be to use 1:10 leverage and 10,000 USD balance. So, the best leverage for a beginner is definitely not higher than the ratio from 1 to 10.

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