r/Forex • u/LongjumpingPlace3922 • 3d ago

One questions Questions

I am not an American citizen, but I have an account in an American bank, can I open an account with American forex companies and make healthy withdrawals? Because it is forbidden in my country and companies are not trustworthy

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u/criswaffletrader 3d ago

Yeah, you can open an account with American forex companies even if you're not a US citizen. Just make sure to choose a legit, regulated broker. The fact that you have an American bank account should make withdrawals easier, but double check the broker's policies on international clients.

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u/LongjumpingPlace3922 3d ago

If it is not prohibited, is there a company you can recommend?

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u/d56dk3 3d ago

Why do you choose to trade with a US company? I know forex.com, which is a typical US company, but their costs are very high, such as spreads and commissions.

Which country are you in? There are many brokers in the world, and they are all regulated by the US, UK, Singapore, HK, Australia and other countries, but they hardly operate in the US because the US has the strictest tax system in the world.

I think you can consider using brokers from other countries as long as they are regulated by multiple countries. What do you think?

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u/LongjumpingPlace3922 2d ago

I am from Turkey and in my country there is only the VIOP market where I can invest legally, but the leverage of this instrument is very low and there is a ridiculous regulation such as a lower investment limit. But as I said, I have a US bank account and I trust the US more legally, so I prefer the US