I am trading for long time already, have seen / experienced many things in this business. I am part of this great futures.io (formerly BMT) forum for couple of years and based on some good recommendations here I decided to trade options via TOS.
Before someone will jump on me I have to state that I am well aware of certain geographical restrictions of most of the brokers. By saying this I still have been shocked by TOS as I've tried to open the account today. There is not my country (Czech Republic, member of the European Union) on their list! There is almost any other country there, even those like Chad, Zimbabwe, etc.
At first I've thought it is just a mistake. Czech Republic is small and I can imagine there are not that many clients at TOS from this tiny piece of land. I went to online chat and asked. No, it is not a mistake (that is at least what the rep had to say)! When I asked for the reasons he said that they are confidential. Just for the record, I am TD Bank customer in the USA and the certainly did not have any problem with me being from the Czech Republic. TOS is also the first broker at which I had this kind of problem.
What do you guys think - is it just a mistake on their side forgetting to put one small country on the list (which the rep tried to cover up) or is the risk assessment of the Czech Republic at TOS really worse than that of Chad, Eritrea or Southeastern Nomansland?
TOS got rid of all their European based customers. I was a customer for a long time when they forced myself and other European colleagues to liquidate their positions or they were going to do it themselves. So don't take ti too personally!
Last edited by Trafford; July 20th, 2012 at 06:29 PM.