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Why every US trader needs to trade offshore

  • #121
  • Jul 26, 2015 4:02pm Jul 26, 2015 4:02pm
Quoting The Fool
{quote} no actually I would try to convince traders to trade in the exchange-traded instruments.

How ironic, just what the NFA is trying to accomplish by over- regulating forex

The offshore bucketshops that you represent are probably only marginally worse than those that still operate in the US, but at least here you have recourse to the courts when they go titsup or try to abscond with traders' funds, if that's any consolation.

Please provide one example of anyone ever getting recourse from any broker that went tits-up

But I don't care,...
The bottom line is, forex is way more profitable than the other exchanges you mention, which is once again why the NFA is regulating while disguising it as protecting the trader.
  • #122
  • Jul 26, 2015 4:06pm Jul 26, 2015 4:06pm
Quoting The Fool
{quote} no actually I would try to convince traders to trade in the exchange-traded instruments. The offshore bucketshops that you represent are probably only marginally worse than those that still operate in the US, but at least here you have recourse to the courts when they go titsup or try to abscond with traders' funds, if that's any consolation. But I don't care, go ahead and shill for whoever. As I've said before, if somebody wants to piss away their money in a rigged game, it's their business.
There is really no need to PUT ME ON YOUR IGNORE LIST, it should be the opposite. After all, you intruded my thread, not vice versa.
  • #123
  • Jul 26, 2015 4:24pm Jul 26, 2015 4:24pm
Quoting Profit Daily
you intruded my thread, not vice versa.

"My thread"?! Apparently this is news to you, but you don't own the thread just because you started it: you should expect, particularly if starting a thread on such a notoriously contentious subject as this one, that others will also give their opinions, or even occasionally ("heaven forbid") some facts, and that not all the thread's content will necessarily be endorsing or validating your own perspective.
  • #124
  • Jul 26, 2015 4:27pm Jul 26, 2015 4:27pm
Quoting Profit Daily
{quote} There is really no need to PUT ME ON YOUR IGNORE LIST, it should be the opposite. After all, you intruded my thread, not vice versa.
Don't take it personally. He has 888 on his ignore list so soon he'll have FF all to himself.
I was added to his list when I answered a question for someone. Apparently he didn't like my answer.
  • #125
  • Jul 26, 2015 4:37pm Jul 26, 2015 4:37pm
Quoting Xela
{quote} "My thread"?! Apparently this is news to you, but you don't own the thread just because you started it: you should expect, particularly if starting a thread on such a notoriously contentious subject as this one, that others will also give their opinions, or even occasionally ("heaven forbid") some facts, and that not all the thread's content will necessarily be endorsing or validating your own perspective.
Everyone reading and posting in this thread is looking to avoid the ridiculous regulations imposed on US forex traders. Yourself and The Fool are not contibuting to that cause. he doesn't even trade forex and you believe we should all use Interactive Brokers and deposit 10 times more than we have to just to have it tied up in margin. Tell me, why should I have to put up $3K to trade USDJPY for $8.70/pip. If I use a 40 pip stop, I'm only risking $350, so why put up $3K? Once again, that extra $2,650 is not protected in any way, so how is this a less riskier option?
  • #126
  • Jul 26, 2015 4:43pm Jul 26, 2015 4:43pm
Quoting Profit Daily
{quote} Everyone reading and posting in this thread is looking to avoid the ridiculous regulations imposed on US forex traders. Yourself and The Fool are not contibuting to that cause. he doesn't even trade forex and you believe we should all use Interactive Brokers and deposit 10 times more than we have to just to have it tied up in margin. Tell me, why should I have to put up $3K to trade USDJPY for $8.70/pip. If I use a 40 pip stop, I'm only risking $350, so why put up $3K? Once again, that extra $2,650 is not protected in any way, so how is...


Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #127
  • Jul 26, 2015 4:52pm Jul 26, 2015 4:52pm
Quoting Xela
{quote} "My thread"?! Apparently this is news to you, but you don't own the thread just because you started it: you should expect, particularly if starting a thread on such a notoriously contentious subject as this one, that others will also give their opinions, or even occasionally ("heaven forbid") some facts, and that not all the thread's content will necessarily be endorsing or validating your own perspective.
Ummm, he is the thread creator soooo, yeah I would say its his thread. Actually I think he's been more than patient, especially with some of your dumb ass posts. No offense but you've offered nothing constructive yourself. As for your opinion....Well you know what they say about opinions!? Btw, I noticed your profile says you're trading from the UK. So clearly you're trading with FXCM US, or one of our other fine U.S. brokers. Please tell us which one you use, I'm very curious.
  • #128
  • Jul 26, 2015 5:08pm Jul 26, 2015 5:08pm
Quoting srt
{quote} Don't take it personally. He has 888 on his ignore list so soon he'll have FF all to himself. I was added to his list when I answered a question for someone. Apparently he didn't like my answer.
I'm on there too, thank God!. I would've felt left out. I think I was number 883, Damn that took a long time. 7+ years on this forum and I couldn't beat 882 others. Sorry PD, I'll stop taking up space on YOUR thread with stupid posts.
  • #129
  • Jul 29, 2015 4:51pm Jul 29, 2015 4:51pm
Quoting The Fool
{quote} it's not illegal for US citizens to form offshore business entities. Obviously. Cast a glance at the Fortune 500 to find some examples. The US IRS can tax you if you are a citizen, but it can't tax your foreign corporation that is doing business entirely outside the boundaries of the US. If you, John Q. Citizen, derive income from the foreign entity then that is subject to US taxation. But the foreign entity's income is not. The latter fact opens some avenues for creative thinking. There are lots of countries that cater to US citizens and...
How would I go about setting up an offshore entity? I don't want to do a Wesley Snipes and end up in federal prison for 3 years. I'm thinking about setting up a physical location and moving to Hong Kong. Capital gains taxes are ridiculous and if Clinton gets elected she wants to double it.
  • #130
  • Aug 3, 2015 1:34am Aug 3, 2015 1:34am
Quoting The Fool
{quote} interesting to note that the OP's preferred offshore "broker" lists its location as 8 Copthall, Roseau Valley, Dominica. Try googling that address and see what you find: several other forex "brokers" are located there, too. Along with various other porno websites and a host of fly-by-night internet business schemes. So, sure, it's a building with a room full of mailboxes where any number of offshore entities can rent an address. If you are using these crooks with your chicken feed account to get 1000:1 margin and they are actually letting...
This is guy is seriously dodgy do not take his advice or follow his option trades.
  • #131
  • Aug 3, 2015 1:38am Aug 3, 2015 1:38am
Quoting The Fool
{quote} Well it's simple enough, you just call them and ask. Always possibly a snipe hunt to find the right person but usually not. I have been down this road and it was several years ago, so things might be different now - but when I asked several reps at the nicer shops (in the US and Europe) if they would let my Panamanian SA open an account, I got 100% "no"...Interestingly enough, your question "May I?" is often answered with the question "What size of account do you want to open?"..... ...anyway, said reps will have a list of greylist countries...
Lots of talk hombre but none of it really makes any sense whatsoever. ANd we all thought that you were an ace options trader how wrong can one be.
  • #132
  • Aug 3, 2015 6:08am Aug 3, 2015 6:08am
Quoting The Fool
{quote} How much does FBI kick back for introducing a new account?
and what does this have to do with you - Fool lol
  • #133
  • Aug 3, 2015 6:11am Aug 3, 2015 6:11am
Quoting The Fool
{quote} of course, you find out who you are dealing with by winning. Even the finer casinos will not allow you to win for too long. I'd imagine the same from the unregulated fx brokers. But I could be wrong. Maybe there is a supremely virtuous fx broker in Cyprus or Barbuda who offers 1,000:1 margin and pays out your daily winnings directly to your Paypal account with nary a glitch. And pigs fly out my butt to rain crisp bacon on my every picnic. Anyway, fuck forex. I prefer the exchange traded junk. In the exchanges you are dealing at least with...
Forex is cool u need stamina to overcome those hurdles and an education too - why not stick with your bacon as we all know where it is to be found stinky fool - phew and what a stink
  • #134
  • Aug 10, 2015 3:07pm Aug 10, 2015 3:07pm
Has someone really reported me as commercial simply because they cannot argue the validity of my points regarding trading offshore? Ridiculous.
  • #135
  • Aug 10, 2015 7:57pm Aug 10, 2015 7:57pm
Obviously, until they see I have done nothing to be labeled commercial, I cannot send or receive PM's. Anyone needing to reach me can do so at [email protected]
  • #136
  • Aug 12, 2015 11:06am Aug 12, 2015 11:06am
Since I am labeled commercial, my ability to post in other threads has been disabled. Wanted to share this from the Oanda thread:

I had truly thought this matter was settled.


Still no check from Oanda, it's been just about 2 weeks now. The informal communication with the NFA seemingly is ineffective. Is it time for a on record complaint? Oanda plainly told me Yes, we will mail you a check so I responded with that specific request directly back to them. They are also aware the request check function under account funds section is not a viable action though they have not modified their account login area to reflect anything is wrong. Now they are playing games. Anyone else here have a encounter like this?

My unregulated, offshore broker has INSTANT withdrawals. This over regulation sure benefits us traders, doesn't it? Can't cut a check Are you kidding me? Why because you profited against a market maker broker?
  • #137
  • Aug 12, 2015 11:39am Aug 12, 2015 11:39am
lol everybody scared to post in this thread now cuz the got us all like
  • #138
  • Sep 27, 2015 5:41pm Sep 27, 2015 5:41pm
Just checking in everyone. Lot of developments this past month. US now down to 4 brokers. One has been fined numerous times, became an ECN and is now back to MM model as they know this is the easiest way to rip off clients. Two have always been MM and benefit when you lose. The only true broker in the US requires a 10K minimum deposit and you still have those ridiculous margin requirements, ridiculous FIFO rule and no hedging. I continue to trade offshore and everyone that I have "shown the light" to is enjoying the experience tremendously. Only needing to put up 10% of the margin for the same trades and now withdrawals are INSTANT, yet it still takes US brokers several days to get money to a US client, heck, one broker still cannot issue checks. Any questions regarding trading offshore and its many benefits I can be reached at [email protected].

P.S. Be on the lookout for my blog coming in October. It will be exclusively dedicated to trading spot forex offshore.
  • #139
  • Sep 28, 2015 5:33am Sep 28, 2015 5:33am
Hey buddy, sorry to see you got demoted to the commercial section while I was away?. Don't think that's very fair IMHO but nice to see you online. I see ya lurking the Corner from time to time. You should just start a new user name so you can post in non com sections. Just leave "this" topic here? Just a thought.
Ghost Rider - WWTBMD?
  • #140
  • Sep 28, 2015 4:19pm Sep 28, 2015 4:19pm
I've been trading with these restrictions for years and I don't find them to be "limiting". I personally think nobody needs more than 50:1 and if you claim you need more lev to turn a profit, then you're a gambler or under capitalized. Just like the rest of the "unregulated" parts, anyone with $10 to their name think they can make thousands with high leverage forex. Which is of course unrealistic and is called "gambling"

As a matter of fact I'd be all for going down to 25:1 or even lower. Heck, get rid of retail spot all together in US. You can trade currencies though commodities. A good trader is a good trader no matter what market conditions or restrictions.
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