Banned Country List and Others - DailyFX Forex Forum

Helene Z. · #1 (**permalink**) 09-22-2009, 01:37 PM

At the current time, we are not able to do business with the following countries:

British Columbia (Canada)
Quebec (Canada)
South Korea

Belarus
Cuba
Ivory Coast
Iran
Liberia
Myanmar
North Korea
Sudan
Syria
Zimbabwe

Traders in the following countries can apply for a Micro Account, however can only use wire transfer to fund their accounts as our credit card vendor does not accept credit card Payments from these countries:

Nigeria
Indonesia
Pakistan
Ukraine
Romania
Bulgaria
Bosnia + Herzegovina
Lithuania
Macedonia
Montenegro
St. Helena

For Australian Clients:

FXCM Australia offers many account options, however, at this time Micro accounts are not offered. For a full description of different account types, please click here.

mteknight · #2 (**permalink**) 01-04-2010, 02:35 PM

Hi!

I'm from Brazil, and wish to apply to a micro account. I have noticed that when beginning the application the website tells me that some contries aren't allowed and Brazil is listed. When I click "More Info" I get this post and it doesn't show Brazil on the list.
Is my country allowed to open the micro account? Are there any restrictions?

If I can't open the account than I'll have to look elsewhere as my investment plan doesn't include funding $2,000 into an account. I wish to start low and grow.

Regards,
Alexandre

Xeeshan · #3 (**permalink**) 01-17-2010, 03:54 PM

Helene plz confirm that the banned countries for credit card payments only apply for US clients only or both US and UK clients

Helene Z. · #4 (**permalink**) 01-20-2010, 07:48 PM

Quote:

Originally Posted by Xeeshan

Helene plz confirm that the banned countries for credit card payments only apply for US clients only or both US and UK clients

This applies to clients who have an account to both FXCM US and FXCM UK.

Michael Jarosz · #5 (**permalink**) 02-03-2010, 09:52 PM

Why can't we open a Micro Account in BC?

Helene Z. · #6 (**permalink**) 02-04-2010, 06:24 PM

Quote:

Originally Posted by Michael Jarosz

Why can't we open a Micro Account in BC?

Michael,

This is due to regulations and documents and such.. At this time BC can not open an account.

Michael Jarosz · #7 (**permalink**) 02-04-2010, 11:33 PM

Quote:

Originally Posted by Helene Z.

Michael,

This is due to regulations and documents and such.. At this time BC can not open an account.

Hello Helene,

Thank you for your reply, but this is still not making any sense to me.

If a small(er) company like Questrade can meet those regulations and documents, why can't you guys?

And I apologize if I am little pushy about this, but I was really looking forward to trading with FXCM. Unfortunately, this is looking to be less and less likely with each day; before it was just Micro Accounts that were out of my reach, now all of FXCM has pulled out of BC.

What's worse is that I can't find a logical reason for any of this.

1. As stated above, if other companies can meet these regulations, why can't you?

2. If the regulations are really that strict/nonsensical (I know that the BCSC can be a complete a*s), why not create a separate company for BC operations that meet said regulations? That way your other operations are not affected, and BC residents get to trade with you.

tisoy pogi · #8 (**permalink**) 02-27-2010, 02:27 AM

Hi Helene!

I'm from Philippines and am interested in openning a micro account in FXCM. However, my country is neither included in the Banned Country List nor Allowed Country List. Is it possible for me to trade with FXCM?

FXCM has an auhtorized broker in our country, Forex Club Manila, but it does not offer a micro account.

Awaiting your reply.

Best Regards,

Tisoy

Suhail A. · #9 (**permalink**) 03-09-2010, 01:15 PM

Quote:

Originally Posted by Michael Jarosz

Hello Helene,

Thank you for your reply, but this is still not making any sense to me.

If a small(er) company like Questrade can meet those regulations and documents, why can't you guys?

And I apologize if I am little pushy about this, but I was really looking forward to trading with FXCM. Unfortunately, this is looking to be less and less likely with each day; before it was just Micro Accounts that were out of my reach, now all of FXCM has pulled out of BC.

What's worse is that I can't find a logical reason for any of this.

1. As stated above, if other companies can meet these regulations, why can't you?

2. If the regulations are really that strict/nonsensical (I know that the BCSC can be a complete a*s), why not create a separate company for BC operations that meet said regulations? That way your other operations are not affected, and BC residents get to trade with you.

Hi Michael,

We have an automated application process at FXCM Micro. In part due to the unique characteristics of the British Columbia regulatory process, it has not been feasible to extend our service to BC residents. We appreciate your interest in FXCM Micro, but since we are not regulated by the British Columbia Securities Commission, we cannot open an account for you at this time.

Suhail

Suhail A. · #10 (**permalink**) 03-09-2010, 01:47 PM

Quote:

Originally Posted by tisoy pogi

Hi Helene!

I'm from Philippines and am interested in openning a micro account in FXCM. However, my country is neither included in the Banned Country List nor Allowed Country List. Is it possible for me to trade with FXCM?

FXCM has an auhtorized broker in our country, Forex Club Manila, but it does not offer a micro account.

Awaiting your reply.

Best Regards,

Tisoy

Hi Tisoy,

FXCM Micro does accept clients from the Philippines. You can select the Philippines from the dropdown list on the application page by clicking HERE.

Thanks for your interest in FXCM Micro.

Suhail

Lorant · #11 (**permalink**) 03-14-2010, 10:48 AM

Hello.If i use wire transfer to fund my accounts(1000 $) i can withdraw the profit via credit card ? I m from Romania.(banned country)

Helene Z. · #12 (**permalink**) 03-14-2010, 01:36 PM

Quote:

Originally Posted by Lorant

Hello.If i use wire transfer to fund my accounts(1000 $) i can withdraw the profit via credit card ? I m from Romania.(banned country)

Lorant,

No, withdrawals will be via wire transfer as well.

numbnuts · #13 (**permalink**) Today, 04:06 AM

Hi

i live in New Zealand and wish to open a micro account. New Zealand doesnt see to be an option in the drop down menu however, I get redirected to the Australian site which doesnt offer micro accounts. Can I trade micro lots with FXCM or do I need to go elsewhere?