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Offshore Forex

Discussion in 'General Forex Talk' started by Shenanigan, Nov 1, 2009.

  1. Shenanigan

    Shenanigan Recruit

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    Can anyone recommend reliable offshore forex broker to escape oppressive regulatory climate of BC? Authorities here have effectively banned forex trading. Brokers worldwide refuse to open accounts with BC addresses. Require broker that does not disclose ANY information to ANY taxman. O tempora o mores!
     
  2. Pharaoh

    Pharaoh Colonel

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    Brokers that don't provide records to tax authorities might also tend to lose records related to profits you have made.

    You might want to see if you can establish a postal address in on of the saner provinces of Canada. That should open a wider variety of brokers to you.
     
  3. Shenanigan

    Shenanigan Recruit

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    You are probably right. However, I did manage to keep my account open by using a false address in another country. This is I believe, only a temporary solution as I think it will cause problems down the road. Besides, who knows what bird brained rules our securities regulators will think up next? I wish to distance myself from this BS for good, and if that brings tax immunity with it I would consider it a bonus. Also, a certain major broker informed me that they have stopped doing business in Canada altogether. I don't blame them.
     
  4. Pharaoh

    Pharaoh Colonel

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    You could pay a quick visit south of the border and open a PO Box in the USA. If a broker says no PO Boxes, or requires a street address, go to one of those places like the UPS Store. They provide a street address with a box number that looks more like an apartment or office suite number.

    Technically, that would be a legit mailing address for you. Not sure how the RCMP would view it though.
     
  5. sjd

    sjd Recruit

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    The broker I'm currently demoing is based out of TO or well so their website says at least :) InvestTechFx
     
  6. Zorro's Mask

    Zorro's Mask Recruit

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    Investtechfx

    I am doing some research on this company, Investtechfx. The address used is a legit address, but they are not listed as a tenant in the building. It seems they may be using a virtual address for an office based elsewhere, or listed under another company name. My level of skepticism is rising with this broker. Each phone call about my personal account has resulted in being put off. I can not get a straight answer from the people answering the phone, only that someone will call me back...which never happens. Use caution, the demo works well, but live is another issue.
     

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