DislikedJuly 15th is the final deadline for foreign brokers to close unqualified US accounts.Ignored
Yeah and after that the CIA will be banging down doors via stealth drones to take you out by force. LOL
Can US residents trade fx offshore? 42 replies
Anyone still thinking of opening your own offshore mm Broker House? 2 replies
Offshore Forex for US Residents 2 replies
Banks Now Asking For Forex Business Plan Before Opening Accounts 7 replies
Offshore accounts 0 replies
DislikedJuly 15th is the final deadline for foreign brokers to close unqualified US accounts.Ignored
DislikedIf the CFTC can get to TDFX they can get to anyone as TDFX is probably one of the largest or at least really fast growing.
The others will just fall in line. The biggest reason is likely liquidity... they dangle that liquidity carrot over their head when things get tough and they have but little choice to take it with "conditions"... memorandum of understanding or whatever you want to call it.
Off-shore company is the only way at this point I believe... unless you are considered "high net worth" --- like a cool 10 million. That shuts most...Ignored
DislikedBut what good will a off-shore company do if your still a US Citizen? These brokers not accepting us here in USA always say no "US Citizen" allowed.Ignored
DislikedBut what good will a off-shore company do if your still a US Citizen? These brokers not accepting us here in USA always say no "US Citizen" allowed.Ignored
Dislikedadd MIG Bank to the list, as of this afternoon.. does anyone have confirmation of the offshore LLC loophole actually being accepted?Ignored
DislikedYeah and after that the CIA will be banging down doors via stealth drones to take you out by force. LOLIgnored
QuoteDislikedI've heard of people doing it but my biggest problem with it is having to maintain a bank account in a foreign country with no deposit insurance.
You have to maintain a bank account outside the US to be able to pull proceeds out of your forex account or deposit more funds into your forex account.
Then there are the fees.... not like the USA where you can have 1,001 free checking accounts with a $50 deposit. Plus with the Greece default problems you never know who might be effected and how harshly "IF" Greece defaults.
A bank run in a...
QuoteDislikedWell, I guess what I will do is treat forex trading like I do stocks or anything else I might buy with the intention of selling at a profit... Manually write down the price paid and price sold.
If I bought a car last week for $5000 and another one yesterday for $2000 and then I sell one today for $4000, guess which one it was I sold.
Same with stocks. If I buy 100 shares at $35 and another 100 shares at $30, then sell 100 shares at $32, which 100 shares do you think I had in mind to liquidate?
So if I buy a lot of AUD/USD at 1.07 and then...
DislikedIf I bought a car last week for $5000 and another one yesterday for $2000 and then I sell one today for $4000, guess which one it was I sold.Ignored
DislikedSo no one has gone through the process of forming an offshore LLC (just a few hundred $), and trading through it? This seems like an obvious solution.
Am I missing something?Ignored
DislikedA solution
open a Limited company in UK of which you are 100% shareholder, it is a legal UK entity and is accepted by UK brokers
of course it would be handy to have someone in the UK to speed up paperwork.....ahem...PM...
estimated running costs of around £500 annually, well worthwhile for a profitable trader in my opinionIgnored
DislikedIf retail forex DOES get banned, which I dont think it will, how will having a UK based company allow us to still trade?Ignored