CFTC Rules - Broker Q&A for Traders

GinjaNinja

Recruit
Messages
14
Wise up girl . This is has nothing to do with " US global hegemony " . This is One World Order hegemony . Our half-black Kenyan moron and his liberal imbeciles friends trying to control everything everywhere . Imam Obama sees himself as the President of the World . He doesn't likes this country , he hates free people, he believes in Government and he doesn't understand business and hate "unfair" capitalism . That is what you get when you put in charge community organizer . Hope all you people learn and VOTE next month.
Awesome... ;)
 

GinjaNinja

Recruit
Messages
14
Even if we voted the bums out (seems increasingly likely) I don't see how that can help. Repealing Dodd/Frank isn't possible while dufus-head is in the white house.

Best possibility is de-funding the CFTC via the republican held house. That still wouldn't miraculously get GoMarkets to start trading with US citizens again, but it would be nice to give those clowns lots of enfocement duties and no funds to use.

A.
Still need more than the House to pull this off. You can create other legislation to override this law though... looks like the next President is going to have their hands full as long as they aren't apart of the DemoSocialist party..
 

GinjaNinja

Recruit
Messages
14
Hello everyone,

I have been researching lovely pile of garbage called the dodd-frank (aka fraud-snake bill) that was wonderfully made to protect us "little guys". It is my impression that they want to cut us out of trading altogether (obviously) not for our own good, but because we are doing better than the banks are.

There are provisions in the bill that allow the banks to trade all they want and when they lose, they go straight to the fed get more money, without any questions. Now here comes the scary part! There is another provision making them exempt from the Freedom of Information Act!

Anyway as for my ideas to get around some of this crap for us traders.

1. The part that allows those with 10,000,000 in assets to trade.
A- Go to the local art supply store, get some paint, canvas, clay(etc), and make a few paintings, make a couple sculptures, use some creativity. Then you slap a nice price tag of 10 mil (or something extra, after all they are all one of a kind). Who can say they are not worth your asking price?

B-There is always sentimental value. I am sure almost everyone has family heirlooms that are priceless to you. That value counts as well. That will take some creativity as well.

2. Panamanian Foundations- There are no owners of these entities, they are not like trusts that have grantors or a beneficiary, they are not corporations that have owners, they are not located in the US and have very strict privacy laws. They can be a bit expensive and difficult to get a bank account for, but are worth looking into.
But, make sure your broker will recognize this entity. Do some research on them.

3. Offshore Trusts and corporations- This may be the way I go. Setting up an offshore trust, and have it as the owner of an offshore corporation. This is the most important part. Have the corporation hire you to manage the affairs. That would not make you the investor, share holder, or owning any of the property, but an EMPLOYEE. You are employed to push buttons, and advise the company/trust how to manage its funds using your expertise.

Just thought I would throw out a few ideas. I hope someone finds them useful.

I found out Dodd was not running for re-election(wonder why). I also wonder where he will go for work hmmm......

The part where it allows us residents to keep trading how they like, but us citizens are restricted also shows us how great our illegal immigration laws are. I bet someday in the near future the people trying to get in to Mexico will out number the people trying to get out of Mexico!

Thanks for reading and if we can all stick together we can get around this,

FXMON33
Option 1: Wouldn't do that... if all of a sudden you have a $10M increase in assets in one year.. the IRS will have a field day with you. All in all, not a bad idea but sadly, all of our government entities talk to each other. (Except for law enforcement and intelligence bodies, go figure)

Option 2: Too complicated, I've looked. However.. you could start a Panamanian bank..

Option 3: This is the option I am playing with. The question is Where? BVI seems to be a good option, but I'm not opposed to Panama either. I'm all for an offshore hedgefund/bank.

It's sad we have to go elsewhere to pursue the American dream.
 

Damon

Founder/Director Pellucid FX
Messages
59
What do Americans want?

Hey guys,

So now that you are seeking out unregulated brokers:

Can any of you think of a way that a broker could be unregulated and still prove that it was on the up and up?

Or multiple ways?
 

Pharaoh

Colonel
Messages
19,825
The US is making it harder and harder for US residents to open accounts with offshore brokers, regulated or unregulated.

For any broker, US or other, you need to do some research. Check the reviews here at the FPA and look for serious complaints on withdrawals. By serious, I don't mean "I asked for my money 4 days ago, where is is?". I mean cases where the person has been asking for several weeks and keeps getting excuses.

Run a google search on the broker's name and see what else you find.

There's more info on researching a broker here:
http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

And, on how to spread your money so that one bad broker can't wipe you out here:
http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/3033-wealth-protection.html


You can also ask a professional Due Diligence service like www.4xangels.com to do research for you.
 

Gainpips

Recruit
Messages
1
I dont understand why some brokers allow US clients, while other brokers (within same City) have discontinued their relation with US clients?

Is the US government 'choosing' which brokers it will allow and which not to allow US citizens to open an account with?
 

maxwel

Recruit
Messages
1
Hi
Sorry for my English.
I'm interesting in binary options. Does it under CFTC/NFA regulation too? If I US citizen/resident can I work with non-US binary broker?
Thank you.
 

mkeysor

Recruit
Messages
4
It seems like this thread is just about dead, but I need some help. I used to trade with TDFX until they stopped accepting US clients, now I'm currently with Hot Forex and they are ending their service of US client on June 5th. I only option I know that I can trade with is FinFx, but I'm sick of moving my money around. I have to have hedging abilities and I can't do that with US brokers. I'm a US citizen, i'm thinking of opening an off-shore corporation so I can trade a corporate account, but I don't know if they'll accept it. Any ideas of working around this?
 

marsh56

Private
Messages
25
It seems like this thread is just about dead, but I need some help. I used to trade with TDFX until they stopped accepting US clients, now I'm currently with Hot Forex and they are ending their service of US client on June 5th. I only option I know that I can trade with is FinFx, but I'm sick of moving my money around. I have to have hedging abilities and I can't do that with US brokers. I'm a US citizen, i'm thinking of opening an off-shore corporation so I can trade a corporate account, but I don't know if they'll accept it. Any ideas of working around this?
It is insidious just how long an arm the US has with these ridiculous regulations. In my case, I use FXDD because they are able to offer hedging without breaking the rules. However, due to the 50:1 margin, you basically need to use 4 to 8 times the capital.

Regarding offshore options, I understand that the UK may have some relatively inexpensive options. The challenge is that none of the officers of the corporation can be US citizens, at least to my knowledge.

As long as you have $10k or more, I would go with FXDD.

Mark
 

mkeysor

Recruit
Messages
4
It is insidious just how long an arm the US has with these ridiculous regulations. In my case, I use FXDD because they are able to offer hedging without breaking the rules. However, due to the 50:1 margin, you basically need to use 4 to 8 times the capital.

Regarding offshore options, I understand that the UK may have some relatively inexpensive options. The challenge is that none of the officers of the corporation can be US citizens, at least to my knowledge.

As long as you have $10k or more, I would go with FXDD.

Mark
Oh FXDD does? I didn't know that. I'll have to jump on a demo account and check it out. Thank you! ...You're right the 50:1 is a killer.

As for the offshore stuff, it's kinda foreign to me but it looks like it could work in Seychelles, Nevis, or a few other places, but it would be between $1400-3500 to get all the documents, bank account, registered office, etc.

Mike
 
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