For years, traders who work in Forex know that a lot depends on the choice of broker.
Considering the conditions of different companies, we must not forget about the existence of foreign brokerage firms. It is somewhat more difficult to use them, but due to high competition and long-term development, the conditions for them are the best.
The Forex market began to be used much earlier than in Russia, therefore, modern domestic brokers simply do not have as much experience.
Also, commissions and spreads when trading certain currency pairs can vary greatly ( one of the main reasons for switching to foreign brokers ).
Competition among foreign brokers is much higher, so you can choose from thousands of companies. Evaluate the conditions and do not forget to check whether registration is available for Russian citizens.
Some brokers have long closed registration from foreigners, therefore the list of suitable services is sharply reduced .
There is a company - a foreign broker where residents of Russia can register. In addition, the brokerage firm has several significant advantages:
Start trading with this broker quickly will not work. As with the use of domestic brokerage forms, you will need to send documents by mail and wait until they reach America.
Registering with a foreign broker is not so easy, so consider the best Forex brokers from Russia.
If you have definitely decided to use the services of foreign brokers, then choose.
When opening an account with a foreign broker, you need to prepare for a complicated registration procedure. You will need to go through the following steps to open an account in a foreign service:
Having done all these actions, you can log in to your profile, but you still cannot trade. First you need to activate the profile, as well as top up the balance.
When you first visit your profile, select the option for making deposits " Bank Transfer " (Wire Transfer). After that, a page of thanks for launching the account and a link with the name Application will open.
By clicking on this link, you will receive an important document that you need to print, indicate today's date and put the painting:
In addition to this document, you need to attach a form W8BEN. There are different tax obligations for traders in America and Russia, so you need to immediately fill out this document and send it to a broker. By agreement between our country and the Americans, a trader can pay tax only in his own country.
Ameritrade does not share information about the accounts of traders with the tax authorities, so paying taxes or not is a personal matter.
Like the previous document, the W8BEN form must be printed out and carefully filled out. The site has detailed instructions for filling out, even basic knowledge of the English language will suffice:
By collecting these documents and attaching a copy of your passport, you can send a letter to the broker. It’s hard to say how long it will take to deliver the documents, the letter can take 3-4 weeks. As soon as the data is verified, an email will be sent to the email, and you can go to the bank and order a transfer of funds.
You may need to confirm your place of residence by sending additional information to the broker (for example, the receipt of payment for utilities).
Opening an account with a foreign broker is not so difficult, but it takes more time.
When replenishing the balance, use bank transfers, and in order not to explain to the bank that you have opened a brokerage account and not to open a separate bank account, transfer no more than $ 5000 per day (by law, this is the maximum amount of transfer, without opening an account).
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