RoboForex is a global forex broker that offers a wide range of trading services and products to traders of all levels of experience. However, many traders are wondering if RoboForex is allowed in the USA.
In short, RoboForex is not currently allowed to accept clients from the United States. This is due to regulations set forth by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), which govern forex trading in the USA.
Why is RoboForex not allowed in the USA?
There are a few reasons why RoboForex is not allowed to accept clients from the USA. First, RoboForex is not registered with the CFTC or the NFA. This means that the company does not meet the regulatory requirements for offering forex trading services to US citizens.
Second, RoboForex does not offer the same level of protection for US clients as it does for clients in other countries. For example, RoboForex does not participate in the US Client Protection Fund (CPF), which is a fund that helps to protect customers in the event of a broker bankruptcy.
What are the risks of trading with an unregulated broker?
There are a number of risks associated with trading with an unregulated broker, such as RoboForex. These risks include:
No protection from fraud: If you trade with an unregulated broker, you are not protected from fraud. This means that the broker could steal your money or manipulate your trades without any recourse.
No access to dispute resolution: If you have a dispute with an unregulated broker, you will not have access to any dispute resolution mechanisms. This means that you will have to take the broker to court to resolve the dispute, which can be expensive and time-consuming.
No guarantee of funds: If an unregulated broker goes bankrupt, you may not be able to recover your money. This is because unregulated brokers are not required to participate in any deposit protection schemes.
What should I do if I am a US citizen and want to trade forex?
If you are a US citizen and want to trade forex, you should only trade with a broker that is registered with the CFTC and the NFA. These brokers are required to meet certain regulatory requirements, which helps to protect you from fraud and other risks.
You can find a list of CFTC-registered forex brokers on the CFTC's website. You can also find a list of NFA-registered forex brokers on the NFA's website.
Conclusion
While RoboForex is a popular forex broker in many parts of the world, it is not allowed to accept clients from the USA. This is due to regulations set forth by the CFTC and the NFA. If you are a US citizen and want to trade forex, you should only trade with a broker that is registered with the CFTC and the NFA.
