USA or UK for FXCM

[bluetownman]

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

 

[Paul71]

Eat the hairy muff!

 

[Jason Rogers]

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.