Free PDF Download
US Forex Trading Checklist
The essential checklist every American trader needs before starting forex trading. Covers regulations, broker selection, risk management, and taxes.
20+ actionable items
CFTC/NFA compliance checklist
Risk management framework
Tax preparation guide
What's Inside the Checklist
A preview of what you'll get in your free PDF
1Before You Start Trading
- Understand CFTC/NFA regulations for US traders
- Learn the difference between regulated vs offshore brokers
- Know the maximum leverage limits (1:50 for majors)
- Understand FIFO rule implications
- Research Section 988 vs 1256 tax treatment
2Choosing a Broker
- Verify CFTC/NFA registration
- Compare spreads across major pairs
- Check minimum deposit requirements
- Review withdrawal policies and fees
- Test the trading platform with demo account
3Risk Management Essentials
- Never risk more than 1-2% per trade
- Always use stop-loss orders
- Calculate position size before every trade
- Understand margin requirements
- Keep a trading journal
4Tax Preparation
- Track all trades for tax reporting
- Understand Section 988 default treatment
- Consider electing Section 1256 treatment
- Keep records of deposits and withdrawals
- Consult a tax professional for forex income
Why US Traders Need This Checklist
Regulatory Complexity
US forex regulations are different from the rest of the world. CFTC rules, FIFO requirements, and leverage limits affect how you trade.
Broker Selection
Only a handful of brokers can legally serve US clients. This checklist helps you verify legitimacy and compare options.
Tax Implications
Forex profits are taxed differently. Understanding Section 988 vs 1256 treatment can save you thousands in taxes.