CFD's for US resident

[AsifA]

That leverage is what attracts people, but there are also problems with some cfd providers, incl.
delayed fills and re-quotes, limited stock availability, wide spreads and platform failure.
I agree some US laws are a little crazy, but so are some of ours in the UK, but you can't seriously expect any UK trader to advise you on how best to break US law even if we knew how..................especially when UK citizens who haven't broken UK law get extradited to the US and put in chains for allegedly breaking your laws.....
You wouldn't be part of an FBI sting operation by any chance, would you.........?
Richard

thank goodness you mentioned that. I was about to blurt out a few ways monte could circumvent the barriers that prevail for him. I never confuse morality with legality but as the US law enforcement is aka lynch mobs r us - I could have got into a bit of bother.

 

[edtinca]

CFD's are my ticket and I refuse to be denied. I know it was discussed on here before and I contacted a guy who can help but he hasn't returned my message. There has to be a way I tried everything shelf companies, nominee directors nothing! I refuse to believe that no US resident out there is trading CFD's. Guys PLEASE help.

I do know a few US citizen that do trade CFD's mostly trough family abroad, not under their own name. Now im looking into opening a company in Eastern Europe a phony one, just the a name this might give me access to trading CFD like "dstock" mentioned.

 

[Donsmacs]

While this is a older thread I'd like to thank you all for the information and opinions. As a U.S. citizen and small time trader CFD's had some appeal to me. The rewards do not appear to justify the risks. I'll stick with Forex and stocks.

I'm not sure what guns, online gambling, and national healthcare has to do with ay of this but everyone's entitled to their opinions.

 

[Ingot54]

While this is a older thread I'd like to thank you all for the information and opinions. As a U.S. citizen and small time trader CFD's had some appeal to me. The rewards do not appear to justify the risks. I'll stick with Forex and stocks.

I'm not sure what guns, online gambling, and national healthcare has to do with any of this but everyone's entitled to their opinions.

As a US Citizen you wouldn't see what ' guns, online gambling, and national healthcare" has to do with it.

But the rest of the world looking on can understand - all too easily.

The reason you are unable to trade CFD's in the USA is that the US Government hasn't worked out how to control it and exploit it ... it's that simple.

Hand the problem to Goldman Sachs and the policy would be made tonight, law tomorrow. But Goldman Sachs are making too much money elsewhere in the market to push for the legalisation of CFD's. Put another way - if Goldman wants it ... Goldman gets it.

Goldman doesn't need CFD's.

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6907681.ece

And while I am at it, here is what the world thinks of America's "strong dollar policy" :

http://www.gata.org/node/7461

Note that America is the home of the brave and land of the used-to-be-free.

But you can't trade CFD's.

Short the dollar and you won't need CFD's!

 

[mattman1983]

I just learned about CFD's today. I have been trading the foreign exchange market for a few years now, but want to trade some stocks because of access to volume. I am finding CFDs to be a very attractive option for me because of convenience and brokerage fees. I would prefer to trade the U.S. session, but I live in Asia so when I finish work I find the European sessions to be the most convenient for me. I can't trade the U.S. session because of the time zone difference.

Here's a question. I am a U.S. citizen, but have been living in South Korea for four years. As a non-resident do you know if I can open a CFD account?

 

[ns1000]

I just learned about CFD's today. I have been trading the foreign exchange market for a few years now, but want to trade some stocks because of access to volume. I am finding CFDs to be a very attractive option for me because of convenience and brokerage fees. I would prefer to trade the U.S. session, but I live in Asia so when I finish work I find the European sessions to be the most convenient for me. I can't trade the U.S. session because of the time zone difference.

Here's a question. I am a U.S. citizen, but have been living in South Korea for four years. As a non-resident do you know if I can open a CFD account?

Whether you can open an account depends on your residence, not which passport you hold. However, CFDs aren't permitted to be offered to retail investors in South Korea any more than in the US. I suspect that CFD companies won't really care as much though, and that you'll be able to get the account open without too much trouble. One thing to think about is funding your account - International Transfers out of Korea can be pretty expensive; do you have any money held outside Korea (and outside the US)?

Whatever you do, go for a properly regulated company rather than anything operating out of Belize or Cyprus. There are quite a few firms operating out of Japan which might suit best, although you'll get more leverage opening in the UK.

 

[mattman1983]

Whether you can open an account depends on your residence, not which passport you hold. However, CFDs aren't permitted to be offered to retail investors in South Korea any more than in the US. I suspect that CFD companies won't really care as much though, and that you'll be able to get the account open without too much trouble. One thing to think about is funding your account - International Transfers out of Korea can be pretty expensive; do you have any money held outside Korea (and outside the US)?

Whatever you do, go for a properly regulated company rather than anything operating out of Belize or Cyprus. There are quite a few firms operating out of Japan which might suit best, although you'll get more leverage opening in the UK.

Thanks. I will first check to see if the firms will accept Korean residence and under what conditions. If they accept the residency and I accept the conditions then I will shop around for a good firm.

If it doesn't work then I will have to search for alternative options for trading.