Cryptocurrency Q&A
Can US citizens use offshore brokers?
Can US citizens use offshore brokers?
lucas_taylor_teacher
Tue Oct 15 2024
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7 answers
1538
I'm a US citizen and I'm wondering if it's legal for me to use offshore brokers for trading. I've heard mixed opinions on this and would like to clarify the legalities involved.
7 answers
Margherita
Wed Oct 16 2024
These sanctions could have severe consequences for the broker's US subsidiaries, leading them to avoid American traders altogether.
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Martino
Wed Oct 16 2024
As a result, American citizens seeking to trade with offshore brokers may face difficulties in finding a willing partner.
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EchoPulse
Wed Oct 16 2024
American citizens have the option to engage in trading activities with offshore brokers, contingent upon the broker possessing a valid license issued by the National Futures Association (NFA).
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Elena
Wed Oct 16 2024
However, there are still some offshore brokers that cater to American clients, albeit with caution and strict adherence to regulatory requirements.
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lucas_lewis_inventor
Wed Oct 16 2024
Additionally, the broker must be subject to regulation by the Commodity Futures Trading Commission (CFTC) to ensure compliance with relevant laws and regulations.
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