Do U.S.-based MS or UBS financial advisors have any types of personal trading account restrictions, particularly in forex trading?
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You are not allowed to trade any derivatives at MS through external brokers. This includes CFDs or spread betting. This is what most people use to trade Forex because they can be levered up a lot.
I imagine UBS has similar rules.
Thanks for that insight— I imagine then that non-leveraged forex trading (1:1) isn’t restricted by MS based on your understanding? I think US brokers have lower leverage potential vs international brokers regardless…
It's not about the leverage it's about the derivative. Even if you trade a CFD at 1:1 leverage you'll still be in breach. Basically unless you're trading actual GBP for actual USD and not some derivative (even if it's a delta one derivative like a CFD), it's not allowed.
I believe CFD trading is banned for US citizens so that wouldn't apply to me anyway, but wouldn't you say that spot forex trading doesn't involve derivatives? I've found some online sources to support this line of reasoning. I'm thinking of asking my broker (forex.com) if their platform offers non-derivative forex trading -- that might be one of the more definitive ways to settle any ambiguities.
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