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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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I am wanting to invest in binary options. Is it better to

Customer Question

I am wanting to invest in binary options. Is it better to use a US broker or a foreign broker, and do most US based investors like myself opt for US only or foreign only or both? Thanks.
Submitted: 1 year ago.
Category: Capital Gains and Losses
Expert:  Mark Taylor replied 1 year ago.

IHi, my name is Mark. I will be happy to help you with your questions. If you use a foreign broker you would be required to file an FBAR (FinCEN Form 114) each year if you have amounts greater than $10,000.