Modern online trading is one of the most unpredictable areas of commercial activity, in which there are a huge number of “pitfalls” that can destroy even 100% of the plans of experienced traders. These include:

● sharp changes in the global financial market;

● the collapse of national economies;

● the emergence of new cryptocurrency;

● fraudulent schemes of financial brokers;

● errors of advisers tested by years;

● a huge gap between expected and actual results;

● changes in the strategic course of reliable brokers, etc.

And this list can be continued for a very long time. That is, the average trader, not to mention those who take only the first steps in this industry, is simply physically unable to remember all the potential dangers that await him in the way of a merchant with financial assets.

 

What to do if trading platform does not support traders from your country

 

How to become a successful trader?

If you are determined to become a professional trader, remember the most important rules, without which it will be very difficult for you to achieve this goal:

● forget that financial instrument traders become very wealthy people in a short period of time (many of them receive quite modest income over the years and only a few with perseverance and hard work achieve good results);

● carefully choose the broker with whom you will work (year of registration, regulators, capitalization, list of reputable investors, in which countries this marketplace provides its services);

● key currencies;

● number of clients;

● types of accounts (including demo version);

● level of training of support service specialists;

● which government agencies control the platform;

● bonuses and contests;

● ways to replenish trading accounts;

● Additional services;

● software and mobile application of this service;

● commission and fee for the services provided.

Some readers will ask a completely logical question, but what about the feedback from users of this trading platform? Unfortunately, recently this indicator is one of the dubious characteristics. This is due to the fact that as a percentage of real reviews about a particular broker, there are much fewer than custom comments.

When planning to work in the foreign exchange market or sell other liquid instruments, you need to accurately determine the amount of capital that you will invest in the development of your business.

 And another important point that is directly related to the main topic of the presented article. This is a list of countries with the most stringent requirements of current regulators:

● United States (the undisputed leader, as in any other issues that demonstrate respect for the law).

● Western Europe.

● Australia.

● Japan.

That is, if your broker refused to provide services in the country of which you are a citizen, but at the same time he works in the UK, France, etc., you need to figure out how to continue cooperation with the platform bringing you stable profit.

Method # 1. Other people’s documents.

Nowadays (if you don’t go deep into metaphysical categories) you can buy / rent almost everything. If a well-known trading platform has left your homeland forever, try to find a resident of the “new / old shelter” who will pass the verification for a certain fee, open an account and give you all the necessary logins / passwords.

Benefits:

● You remain in the “shadows” without attracting the attention of our tax authorities.

● In some countries, you can sign a cooperation agreement with your partner, which will protect you from fraud on his part.

● And most importantly, your favorite broker stays with you, regardless of (let’s say, softer) “defenders of the interests of the people”.

Disadvantages:

● Despite the fact that your partners are from countries such as the United States, Switzerland or the United Kingdom, none of you are immune from fraud.

● There may be difficulties with prompt transfer of funds.

● For security reasons, you need to come up with a robust financial transaction plan.

Method # 2. Forex robots.

A novice trader, having checked the work of a financial robot to carry out trading operations using a demo account, is already mentally counting his income, which he will receive in a month or two, especially without straining. Expensive cars, relaxing in the best restaurants and traveling to the most exotic places in the world in the company of beautiful ladies are just the prelude to the beautiful life of smart traders who decide to make money with the help of special forex robots. That is why many newcomers call this way of earning the real Grail.

In this situation, some bidders will smile sadly, marveling at the naivete of gullible fairy tale lovers, while others will say that this is the only way to learn something. But striking cases where some novice traders, even in such situations, manage to make money. This happens in cases where a professional trader “loses” his broker, due to the fact that he leaves the country where he worked for many years. A trader, who is not much upset, also changes his place of work, earning his usual profit.

Method # 3. Open an account abroad.

Having opened a Borderless account on the TransferWISE service, you can work with almost any broker by registering an account and issuing a plastic card. Suffice it to say that this service allows you to work as a full-fledged citizen of the United States, Australia or the United Kingdom.

A similar situation is with Payoneer, a company that allows you to perform financial operations in the United States, regardless of the place of residence and citizenship of its customers.

Method # 4. His own master.

Probably, many readers have repeatedly asked the question, are there any options, when you can remove a trading platform from a chain of trader-broker-financial market. No problem. But for this, the trader will need huge financial resources (from $ 500,000) and very competently organize all subsequent work. But in this case, this trader will act as a broker, and this is a completely different story.

OPEN TransferWISE ACCOUNT

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

How to be a trader if the broker has banned access to trade from his country?
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