Foreign Brokerage Firms?

Question

Is it illegal to use a foreign brokerage firm to trade stocks and other investments?

Answer 1

for us citizens yes, in fact, outside us, every financial instutiton asks if you're, you could not trade us bonds etc.

Answer 2

No. But all regulators (SEC, CFTC, Finra, etc.) will tell you that going through foreign brokerage firms carry higher risks (w/c is obvious).

Also, just like anything in the U.S. (assuming you are a U.S. resident), you are liable for the tax implications of your transactions.