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Rakuten Securities aka FXCM Asia

Discussion in 'Has anyone heard of?' started by RaidersMan, Mar 15, 2017.

  1. RaidersMan

    RaidersMan Recruit

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    Apparently, Rakuten securities based out of Hong Kong purchased FXCM Asia. They offer Trading Station platform which is a huge plus in my book. They also apparently allow hedging as well. I can't tell if they allow US citizens and if they are a market maker or not because their website doesn't elaborate on these points as far as I can tell.

    Does anyone here know anything about them or have experience with them? I would open an account if they are not a market maker and allow US citizens.

    https://www.sec.rakuten.com.hk/en/
     
  2. Pharaoh

    Pharaoh Colonel

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    Wouldn't the easiest option be to ask them directly?

    If they don't accept US citizens now, keep tabs on what goes on relative to Dodd-Frank rules. Chances are there will be at least some relaxation of those in the not-to-distant future.
     
  3. RaidersMan

    RaidersMan Recruit

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    Dodd-Frank was bad but not nearly as devastating to the US economy as Sarbanes-Oxley.
     
  4. EURUSD

    EURUSD Master Sergeant

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    Sometime I am wonder why broker not accepted US citizens, usually broker from Rusian often when visit site company will get notified restricted for US citizens, but I am never ask why these company has these rules
     
  5. aum108

    aum108 Corporal

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    Four years ago the oldest bank in my country was pleaded guilty in a New York court
    for assisting US-citizens on hiding money from the Internal Revenue Service.
    The bank had to pay a fee of over 50 millions Dollars. After 270 years they closed down.

    So nowadays many banks & brokers are beeing over-cautious to avoid fees from the US,
    because US-citizens always have to pay taxes is the US, no matter the country they live in.
     
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  6. Pharaoh

    Pharaoh Colonel

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    Because from time to time, the CFTC will take offshore brokers to court and get a big judgement against them for daring to accept US Citizens.

    It just happened to Tallinex:

    http://www.cftc.gov/PressRoom/PressReleases/pr7568-17
     
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