Many Americans feel uncomfortable trading with overseas brokers not reporting to the US, although this seemingly is not a criminal offence. This means the range of choice of Forex brokers for US persons is quite narrow. Tax rates range between 10% and 37% for ordinary income and 0% and 20% for short-term and long-term capital gains. Given the complex nature of the US tax code, Forex traders in the USA will be well advised to consult a licensed professional for…