Many international Forex brokers not accept US traders. The main reason for this is the Dodd-Frank Act. On July 21, 2010 president Obama signed the Dodd-Frank wall street reform and consumer protection act. The new rules goal is to regulate financial markets like futures, options, stocks and Forex.
In order offer Forex trading service for US residents, the Forex broker must be authorized and regulated by following bodies:
NFA – the National Futures Association.
CFTC – Commodity Futures Trading Commission.
Register to these two bodies isn’t an easy task and most of the international brokers didn’t do this yet.
Brokers Accepting US residents:
To check ZuluTrade registration on NFA site click here
eToro = eToroUSA is operated by Tradonomi LLC, which acts as an introducing broker to FX Solutions. Both eToroUSA and FX Solutions are regulated by The Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Tradonomi LLc is operating under license number NFA (ID:0382918). Here you can read detailed review on eToro.
To check eToro registration on NFA site click here
Working with regulated broker ensures the safety of your funds so it’s highly recommended to work only with regulated brokers.