Forexwatchman
Sergeant
- Messages
- 198
So let's go ahead and start having the discussion that's probably going to have to take place eventually: How will U.S. retail forex traders reestablish their trading with offshore accounts? I have been investigating what my alternatives are in order to minimize the amount of discomfort this 10:1 leverage rule will cause me, and I'm having some new questions come to mind.
What I am trying to understand is how would one living in the United States go about getting a European broker? Would that even be a "legal" way around the CFTC and NFA's jurisdiction? From what I understand, the NFA's enforcement authority extends only to your place of residence and NOT your citizenship. So I'm guessing you could incorporate your company or trust off shore and be all right? But then what do you do for the proof of residency requirement that's involved with opening a new account with any broker? Is there anyone who would take the time to just spell it out for me?
What I am trying to understand is how would one living in the United States go about getting a European broker? Would that even be a "legal" way around the CFTC and NFA's jurisdiction? From what I understand, the NFA's enforcement authority extends only to your place of residence and NOT your citizenship. So I'm guessing you could incorporate your company or trust off shore and be all right? But then what do you do for the proof of residency requirement that's involved with opening a new account with any broker? Is there anyone who would take the time to just spell it out for me?
