The forex industry is a very large and competitive one, which is why many forex brokers accept only US residents as clients. It's more convenient for an international trader to conduct business with his broker from his home, rather than having to spend additional time traveling to the forex broker's office. However, does that mean that forex brokers accepting US clients are the best forex brokers in the industry? And how do you know which forex broker to choose from?
Look at the Websites of the Brokers:
There are forex brokers accepting clients from the United States. However, some forex brokers do not accept clients from the United States. Traders need to understand this before they commit to using a particular forex broker. If you look at the website of a forex broker, or its FAQ page, you'll find a section about "non-US traders". If the company is firm on its ability to serve clients from the United States, it should be easy to find their contact information.
Read FAQ Page:
Another way to check on brokers accepting US clients is to visit forex brokers' websites and read through their FAQ pages. There should be a link for" Toll-Free Phone (News - Alert) support" or "Free USA shipping" somewhere on the FAQ page. When you call a particular forex broker, you'll be able to leave a message for customer service.
If the company doesn't offer you any help or assistance when you contact them, or if their customer service rep is rude and incompetent, you might want to think twice about dealing with this particular forex broker. Please note that this doesn't mean that forex brokers with US clientele are incompetent; rather, it simply means that their customer service representative may not be as competent as they should be.
Read the Payment Methods:
When you're browsing for brokers' websites, you can also read about their payment methods. It's important to note that some forex trading companies only accept electronic money, while others only accept certified checks. In addition, some companies allow their customers to use credit cards as payment.
In general, you should be able to pay your forex broker using one of these payment methods. So, if a forex broker accepts only checks as payment, you'd better check out forex brokers that accept only electronic money or certified checks because your money might get held up in the processing stage.
Customer Service:
The next thing that you should check out is the forex broker's customer service. A forex broker's "live chat" feature can be of great help to you. Many forex brokers offer live chat options through their websites.
So, check out the forex broker's live chat page and get to know the forex broker better. Ask questions about the forex broker's customer service. If the forex broker doesn't have an online chat facility, then you might want to consider another forex broker.
Check the Privacy Policy:
You should also check the forex broker's privacy policy. Before buying any currency, it's always a good idea to make sure that the forex broker accepts US Dollars. If the forex broker doesn't accept US Dollars, then it's better to go with another forex broker.
Fee Structure:
Another thing that you should check is the fee structure of the forex broker. You should remember that different forex brokers have different fee structures. So, you should read all about the fee structure of each forex broker before deciding on which forex broker to use.
Some forex brokers may not accept Credit Card payments for their services. If this is the case, then you might want to go for other forex brokers. There are many more brokers who accept Credit Card payment, but there are some who don't. If this is the case with your forex broker, then you should keep an eye on the terms and conditions of the credit card payment, or you can go for another forex broker.
Registered:
The forex broker you choose should be registered in your country. It should be registered in your country because you will be dealing with your forex broker in US dollars. A forex broker that is not registered in your country may not be able to charge you in US dollars, instead, he/she should charge you in another currency.
This is necessary because if the forex broker charged you in US dollars, the exchange rate might differ from country to country. The forex broker you choose should also be registered in your country because the registration process is fast and easy in your country. If the forex broker isn't registered in your country, then you should go elsewhere for your forex broker needs.
