USA or UK for FXCM

This is a discussion on USA or UK for FXCM within the First Steps forums, part of the Reception category; As a UK resident is there any advantage in signing up with FXCM's UK office as opposed to the US ...

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Old Oct 29, 2009, 7:43pm   #1
 
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USA or UK for FXCM

As a UK resident is there any advantage in signing up with FXCM's UK office as opposed to the US one? or is there no real differnce?


Graham
bluetownman is offline   Reply With Quote
Old Oct 29, 2009, 7:49pm   #2
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Eat the hairy muff!
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Old Oct 29, 2009, 8:29pm   #3
 
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Quote:
Originally Posted by bluetownman View Post
As a UK resident is there any advantage in signing up with FXCM's UK office as opposed to the US one? or is there no real differnce?


Graham
There is a difference.

FXCM UK has spread bet accounts and CFD accounts available. FXCM US does not. As a UK resident, it's more beneficial to open the spread bet account due to tax advantage reasons rather than the regular standard forex account.

Plus, there are regulatory differences between FXCM UK and FXCM US. With FXCM US, you have to close positions in FIFO order whereas with FXCM UK you can close positions in any order you choose. Accounts in the UK are segregated according to FSA client money rules. This is not true through FXCM US.
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