Hi!
I can definitely agree about any broker behaving like above
are probably a bucketshop. but I don't agree about your US theory,
you need to understand why the so called "Dodd frank" act came to be in the first place.
it was signed by the idiot Obama btw, Don't Vote for him next time.
yeaah sure we all heard the explanation that it is to ensure the safety of us residents' funds
and that this is some kind of war against shady brokers,
that is all BS in my opinion, they wouldn't care less about traders money.
what it is all about is that it's expected to enrich the US State Treasury
since the funds invested won't be taken out of the USA borders.
but what we have seen so far is that the effect has been the complete oposite.
it is no longer lucrative to invest in US brokers underlying these rules,
they are making it harder and harder for the small trader.
they are taking away the traders edge and thats very bad!
such as lowering the leverage to maximum 50:1 and there is suggestions
to lower it to 10:1, don't know if that already happend.
order types are also afected such as OCO and they
also wanted to forbid stop loss and limit orders,
not allowing traders to protect their capital.
don't think they got the last one approved
but that was what they intended to do in the first place.
the reason some brokers doesn't allow US clients is because
US law now state that any broker dealing with US citizens must be registred
with the Commodity Futures Trading Commission.
It is easier for brokers to decline the US citizens
because of high expenses registering with CFTC and incredible bureaucracy.
it's not that they are all Buckets,
in my own personal experience the worst broker I been with
was a US broker and accepted US clients.
