Why don’t all brokers accept US traders?
In the past years, binary options have become increasingly popular, and the manner in which people can make money through this method has drawn the authorities’ attention. Trading represents a perfectly legit practice through which everyone can increase their profits, without financial knowledge or experience in the field. All it takes is choosing a reputable broker, a resourceful platform and constant attention. Taking into consideration that there are more than 350 brokers available, the market has been invaded lately by many scams, trying to establish collaborations especially with inexperienced traders. This has transformed choosing a trusted broker such as Boss Capital in a task which may be more difficult than it seems. In order to avoid having people mislead by a scam, the authorities have become more and more involved in the binary options domain, introducing certain laws and regulations. However, these laws may vary from one country to another, depending on a wide series of criteria.
During the years, there have been many changes in the international legal system, which have also affected binary options trading, especially on the US market. The United States are well known for their policy related to foreign trading, which is why most authorities have forbidden clients to collaborate with offshore brokers. In case these want to continue their activity on the American market, they must obtain a special license from the CFTC (Commodity Futures Trading Commission). Being allowed to accept US traders is something strictly related to the federal law and has nothing to do with the fact that a broker is legit or regulated by the CySEC. This represents a competent institution whose main purpose is to make sure everything happens according to the law in terms of financial trades. If you want to find out if a broker is regulated or not, you could simply read specialized pages offering Boss Capital review, or information about any other platform that may be on your list. If you do not live in the US and you find out that a broker does not accept American traders, this will not affect you in any way. It is a huge mistake to think that a platform is a scam, because its restrictions are simply made due to the legal system of the United States. You should nevertheless keep in mind that neither the state nor the federal law do not state that binary options are illegal in the United States. Of course, these restrictive regulations are important for local clients, because they will no longer be able to create an account on some performing platforms, from the only reason that they are offshore.
If you want to find out which are the most popular and reputable brokers, you should use a dedicated platform such as Top10 Binary Options Robots. These offer relevant information about the activity of the most trusted brokers in the world, and their reviews are accurate and reliable. Each broker has its benefits and drawbacks: while some brokers offer advantageous terms and conditions, other may have incredible bonuses and others accept US traders. The most important thing is to know exactly what you are looking for, compare the pros and cons and choose the most suitable alternative.