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Corporal
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- 90
The effected parties
As the US market is a prime client base for brokers the burden is on foreign based brokers that must comply within very short time in order to keep their US citizen clientele intact. Some international brokers might face a question of continuing operation without the chunk of US citizen clients. This is especially true on reporting issues involved that if complied with will drive a large part of clients away! For the average US citizen trader, the effects in my opinion are either minimal or easy to overcome whether now or in the near future. Therefore in conclusion if you are a US citizen check now how your broker is effected. If you are not a US citizen still check your broker as to the percentage of US clients he holds!
As the US market is a prime client base for brokers the burden is on foreign based brokers that must comply within very short time in order to keep their US citizen clientele intact. Some international brokers might face a question of continuing operation without the chunk of US citizen clients. This is especially true on reporting issues involved that if complied with will drive a large part of clients away! For the average US citizen trader, the effects in my opinion are either minimal or easy to overcome whether now or in the near future. Therefore in conclusion if you are a US citizen check now how your broker is effected. If you are not a US citizen still check your broker as to the percentage of US clients he holds!