Can US residents trade fx offshore?

There are plenty of brokers out there that accept us clients. You just need to find one that isn't directly connected with CFTC. So any broker that doesn't have any establishments in the us. I'm with trading point. They're regulated by the EU and they're filed in cyprus..

but I might end up moving to a cftc regulated broker just so I know that they won't try and gut my funds if they ever catch me lol

Dyekid,

What is your experience with Trading Point? What are their spreads on EU and EJ (for reference)? And do you encounter any issues with trading? Thank you for your response. I will consider a non-US broker that accepts US clients if I can find a reputable one with good spreads and execution.

who are you with there, if you don't mind if I ask?

I don't believe they're accepting us clients anymore though. I was grandfathered into my account. The spreads are decent though. Around 2.5 for eu and 3.5 for EJ during frankfurt/London trading hours.

No problems with execution. No slippage. Requoted. Or problems withdrawing

Just look at it this way. Our country's ultimate guide is the U.S. CONSTITUTION. This is supposed to be the LAND OF THE FREE and a BEACON OF LIBERTY.

Shouldn't you be able to do ANYTHING with YOUR MONEY as long as it does not harm anyone?

Even gamblers are able to gamble their own money, it doesn't matter how much they spend as long as it is THEIR OWN.

It's YOUR MONEY.

No one should be able to tell you what you can or cannot do with your money, as long as you aren't harming anyone. And who could you possibly be harming by trading your own money?

I am a US resident, and looking to trade non-us client under LPOA; Any idea if Dodd-Frank reg. imposing new regs.

My understatnding after reading bunch of articles, is that if I am trying to open woth non-us brokers, managing US clients....but none regarding managing non-us clients forex accounts.

Any comments, experiences, links regarding this is helpful.

My understanding is that if a broker does not have a US affiliated brokerage then the broker can decide to accept US clients.

I have seen great reviews regarding FinFx

https://www.finfx.fi/en/open-persona...unt?account=28

Of course, be ready for the usual "submit your identity, you might be a terrorist" signup.

The bottom line is they can't tell citizens where they can/can't park their money. That's exactly why they've gone after places like trading point.

The GUVMINT is probably trolling these very forums to try and figure out who to target next. There are several new brokers accepting US clients in the carribean that are now available. Will leave it at that, google is your friend.

try fxchoice

Is there any recommended method for getting an LLC over seas, in order to set up a business account and trade with International Accounts?

Hot Forex has recently said 'no more' to US traders on their system - but If I could incorporate over seas - and still pay my taxes to the US Government for money I do bring into this country from Overseas trading - that would be ideal

Thank you

it still not enough when you try to open an account one of the questions would be who is the owner of the LLC or corp. Then to address that issue you have to put it under different appointed person and that could get expansive. I am waiting for election to let them know how I feel about it I never wanted to vote more then now.

I believe that every one can trade whenever you want. especial with different offshore forex brokers. As they offers lucrative condition like higher leverage and less bureaucracy.

Rep for Romney! Reverse Dodd Frank!

Anything in the Cayman Islands?

I've been trading with GFT here in the US. They announced yesterday that they will no longer continue retail forex for US clients.

It was suggested to me by an acquaintance that I look into establishing an offshore LLC (BVI) and opening up a foreign corporate trading account (Cyprus).

So, I'm trying to quickly get up to speed as to whether this is a smart idea or not. I just want to trade my currencies and be left alone. But it seems this is becoming harder to do here in the US. I understand GFT is the 3rd company to exit the US retail market this year.

I've read through the thread and have seen a few contemplating the same. Just wondering how many actually have gone through the process, and how it is all working out for them.

Thanks!

You can start a road trip in Chicago & get to LA by way of Miami sure but I guess you need a good reason for that long detour to Miami. Regulatory arbitrage is one in question. I haven't looked at BVI or Cyprus or anywhere really except for Panama and Costa Rica. I know that some of the other Central and SA countries are similar. I thought I wanted to go offshore but things have been changing alot and I decided to wait. So, no, I haven't done it, grain o salt.

The dream of a secret offshore bank account wherefrom you can trade anywhere you like and hide your income from the IRS is nowhere near as attainable as it used to be, if at all. There has been alot of pressure from all sides for more transparency and thats the way things have been going. Of course you can always disguise your identity and pursue other outlaw strategeries but I wouldn't advocate any of that.

However, you can still go to any number of foreign countries and form a native Corporation there and have that Corporation be the trading entity, and pay little or no tax on the Corp's profits incountry, but if you try to claim some of that income for yourself you will be taxed by the US guvmint as long as you are US citizen. The USGuvmint has no claim on a foreign Corp's income, though. If you can live with that then it may be an avenue worth exploring. My personal take on that is that it makes more sense to do the above if you want to pursue some kind of life, a physical presence inside that particular country. That will make it alot easier for you to enjoy the fruit of your Corp's labor, so to speak.

As to the question of regulatory arbitrage, make sure the bank or broker you would like trade with will actually accept a trading account in the name of your new Sociedad Anonima before you haul off and form one. Easy as calling or writing a letter and asking them. ("Hey, will you help me open an account in the name of my new trading company - its a Nicaraguan Corporation?") Depending on who they are you might be surprised at what they say. OK, I'll spare you the suspense - its usually "No." Of course, money talks.....

Mark....you can always switch to FinFX. They don't have offices or anything in the U.S. and thumb their nose at the not-so-disguised powergrab of the CFTC in their effort to become the new Department of Worldwide Foreign Exchange Security. (DWFES)

You can still get an account there without issue.

Yes! I learned about FinFX and FXchoice over at BabyPips - Going offshore to escape the CFTC.

I also learned that I can move offshore, something I've been contemplating for awhile. The thought of living in a slow paced beach or island community appeals to me. :-)

Thanks!

[quote=MarkMcCoskey;6266044]Yes! I learned about FinFX and FXchoice over at BabyPips - Going offshore to escape the CFTC.

I also learned that I can move offshore, something I've been contemplating for awhile. The thought of living in a slow paced beach or island community appeals to me. :-)

Are U a US Trader?
Want 500:1 Leverage and Hedging Again?
Step-By-Step Guide
Open an Account With Any Broker Worldwide



http://www.offshoreleverage.com

Anyone has experience with this? Saw it on another thread

I am not sure but I think I read somewhere that US officials can confiscate his/her winnings if they catch a US resident trading from an overseas Forex account.

Anway, and on a funny note, here is Hitler reacting to that Dodd-Frank Act we are talking about on this thread.