To open a live/real account with FBS, you need to be:
- over 18 years old
- not US citizens
Accounts opened in other name
Sometimes, some people try to open an account in different name by using his/her family or friends name.
But this is of course an illegal thing for any brokers and you may face a problem during verification and deposit/withdrawal process.
FBS does not accept third party deposit/withdrawal just like other brokers.
So you can not deposit into an account from a bank account/card under different name, or withdraw.
Even your legally married partner or family cannot be delegated for this.
Why always US citizens?
Most of the brokers do not accept US citizens and it is precisely written in their website at the bottom often.
This is due to the Dodd–Frank Wall Street Reform and Consumer Protection Act signed into federal law in 2010.
All brokers need to register for American Financial Department to accept US citizens as clients.
This is an unfortunate thing for US citizens looking for more opportunities though, American people in America need to look for a broker in their land.
To open a MT4 or MT5 account, go to the page here.