The United States has strict regulations when it comes to trading the financial markets. Consequently, the majority of online forex brokers do not accept US clients because they are unable to meet the tough regulatory requirements of the US authorities.
Even the few brokers that have been able to meet the requirements are subjected to limitations that do not augur well with many forex traders. For example, CFD trading is outrightly forbidden and the maximum leverage on forex trades is restricted to 1:50.
Roboforex is a highly regulated forex broker. The broker offers tight spreads and restriction-free trading conditions like scalping, hedging, non-FIFO trading and so on. If you consider using Roboforex as your broker you might be wondering if the broker accepts US Clients. The answer is ‘No’ Roboforex can not accept US clients due to regulatory restrictions. Let’s explore more about it.
Does Roboforex accept US Clients?
No, Roboforex does not accept US Clients. The broker is unable to accept US clients due to regulatory restrictions imposed by the US Commodity Futures Trading Commission (CFTC). Roboforex is not registered or regulated under any US jurisdiction, such as the NFA or SEC, which prohibits it from accepting clients residing in the United States.
Why does Roboforex not accept US Clients?
Roboforex is a well-known forex broker with licenses from top regulators like FSC and an “A” category member of The Financial Commission. But you might wonder why Roboforex doesn’t serve clients from the US. Let’s break it down
Rules and Regulations:
Every country has its own rules for forex trading. In the US, the rules are pretty strict. Brokers there need to follow lots of regulations from organizations like the CFTC and NFA. Meeting these rules can be tough and expensive for international brokers like Roboforex.
Legal Restrictions:
The US has its own laws that govern forex trading. The Dodd-Frank Act is a big one. It’s all about making sure trading is fair and safe, especially for retail traders. Following these laws can be complicated and costly for brokers from other countries.
Money Matters:
Doing business in the US can be expensive. Brokers like Roboforex have to spend a lot to meet all the rules and regulations. It’s a big investment, and sometimes, it just doesn’t make financial sense for them.
Business Choices:
Roboforex might decide to focus on markets where it’s easier to do business. By doing this, they can be more efficient and give better service to clients. So, they might skip the US to focus on other places where they can do business more smoothly.
Alternatives of Roboforex for US Traders.
Roboforex is a highly regulated global forex broker. Unfortunately, due to US local regulatory restrictions, the broker cannot accept US traders. However, there are some brokers that can serve as alternatives to Roboforex for US traders. These brokers include
What other countries are restricted on Roboforex
Roboforex is a global forex broker offering services worldwide. However, due to regulatory requirements and business decisions, Roboforex does not accept clients from many countries. These countries include
USA, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan.
Frequently Asked Questions : (FAQs)
What is Roboforex?
Founded in 2009, Roboforex is an online broker that provides CFD trading. The company has offices in Belize City, Belize
Is Roboforex Regulated in the USA?
No. Roboforex is not regulated in the USA. It is a global forex broker offering its services worldwide.
Does Roboforex have an office in the USA?Â
No, Roboforex does not have an office in the USA. The broker is not registered or regulated in the USA.
Can Americans use Roboforex?
No, Americans can not use Roboforex. They are not allowed to trade on non-US forex brokers.
Which Brokers Can Accept US Clients?
There are many US-based forex brokers that can accept US clients. Due to CFTC rules, only US-based or US-regulated forex brokers can accept US clients. However, you may also find unregulated offshore forex brokers that accept US clients. These brokers include :
Etoro:
Founded in 2007 by brothers Yoni Assia and Ronen Assia together with David Ring, Etoro is a social trading and multi-asset investment company. Etoro is a highly regulated forex broker.
Oanda:
Founded in 1996 by Dr. Michael Stumm, a computer scientist, and Dr. Richard Olsen, an economist, Oanda is a highly regulated forex broker. It is registered as both a Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission
Forex.com:
Founded in 2001, Forex.com is a US-regulated forex broker offering its services worldwide. The broker has a couple of entities worldwide.
Hugosway:
Founded in 2018, Hugosway is an offshore forex broker accepting US clients. The broker offers restriction-free trading facilities like non-FIFO trading, high leverage, low spread, and CFD trading. CFD trading is restricted on US-regulated forex brokers.
Final Thoughts :
Roboforex is a forex and CFD broker that offers its online trading services worldwide. It provides a wide range of trading instruments, (Stocks, Indices, ETFs, Currencies, Commodities, Energies, Metals, CFDs on futures). The broker allows almost all trading styles, including scalping, hedging, copy trading, and news trading etc.
However, the broker do not accept US clients due to regulatory restrictions imposed by US authorities, particularly the CFTC. This regulation does not permit non-US brokers to operate and onboard clients from the US. So, if you are a US forex trader considering Roboforex, you should choose alternatives.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital.
