Yes, that with own brand might be true. However, socialism makes sick like a virus. Does it really matter if it becomes just cholera or the pest? This virus is spreading around the world and infects any weak countries. Better to prepare for it than to wait for it coming and then wondering what happened. Because there are a log of signals that it is inevitable. Right?
Buckscoder,
I am onboard. It took a while for me to see this. I have NEVER been a fear inspired poster and have never spread that type of message…Just check my posts. I have used the same handle for a decade at several websites.
I thought that certain things would NEVER happen in the USA, just to have my dreams shattered and fences crossed with the recent decisions. I still cannot believe that I might be alive to see all this change. A whole generation of people have failed our children…they know not what they do now.
We have a president that is at war with Wall Street and business. He tears down everything that he can and defends it with…“they are the ones that destroyed America”…We need change and hope he says…so doing everything opposite of what we know is what he believes. That is about as stupid as reversing trades in a losing system.
Central Planning has never worked and will not work in the USA. At least the libertarian party stands for smaller gov’t, but they will never have a president here (notice the word never…
).
It is going to take some getting used to…having a government that does not listen to the will of the people and marches to its own drum-beat. But I am not a rebel by nature…I was when I was younger, but not now. This is why I have caved in and stopped trading spot-forex. I apologize in advance to the soldiers here in this thread and I am on your side…I just have too much to lose if I were made an example of.
Clint TY for this thread and rallying the community together to form the list of dealers. I just want the users of this list to understand FIRST what they are doing, then to decide what they will do. Good Luck to those of you (or your entities) that are taking the CHANCE to trade Forex offshore while residing in the USA. [I]The USA is becoming an embarrassing set of initials…just now some states want their own currency (Virginia)…nothing united about that!..Texas last year wanted to split from the USA and form their own country…will history repeat itself? Will we have Civil War II ?? [/I]
ES
ES, if TX will depart from the socialistic republic of the US, I am in the right place, lol.
Regarding rebels: Rebels are there for dying as statute example where the majority applauds for the leaders. Rebels may get their time when the majority disagrees with their leaders. I do not see this time coming soon. Right now it all goes the other way. Hope, yea. That’s like hope in a losing trade price comes back. That is what Obama promised. However, it seems we both know what we are talking about and we both know what we have to do. I’m not talking about digging a hole and climbing in. Just the opposite. Stay light on your feet. You have a great time!
Check out Forex Magnates report that the SEC is extending ‘forex trading permission’ for another year to allow for a ‘thorough review’. Apparently, the authors of the Dodd-Frank bill were unaware that stock traders use the Foreign Exchange when trading stocks!
I’ve read about 10 pages, but nothing seemed conclusive as to which makes the most sense:
- form an offshore corp.
- investors-europe?
Does anyone have advice as to which is more beneficial / negative? I already have a US corp, but apparently that is useless. Downside for Offshore corp. is 2k setup cost, and does anyone have confirmation that it will actually work? (there should be no reason why not, but who knows with all the D-F bull****)…
I will move out of the US if it comes down to it. I’m taking immediate action, any advice is much appreciated!
If InvestorsEurope will take the account without requiring an Entity, I myself would prefer that route.
It us much simpler.
There is not just the cost in forming a foreign corporation - there are all sorts of compliance issues in both countries. Let’s say you pay $2000 to a foreign lawyer. He will hopefully be responsible for issues in the foreign country but not in the U.S.
There may be various tax filings etc. in the U.S. that you are responsible for as a shareholder owner of a foreign corp.
I think that it will arouse less attention to just do it as an individual. After all, there are all sorts of Americans who live part-time in Europe etc. and have accounts there. And you are not hiding anything. If the U.S. ever does find fault, you can always plead ignorance. If you have an elaborate corporate structure, it all looks more premeditated.
All of the above said, I have not finished looking into the issue yet.
Post-edit: Also actually in your case, since you have a U.S. corp, you could have it open the account with InvestorsEurope if you wish. This would not improve anything but might be more convenient if you are trading through it already
Nine years ago, I accepted an invitation to visit a family I taught for the year they spent in the States. Since then, in several Latin American countries, I’ve re-connected with the relaxed way of life I enjoyed while growing up in the USA. And, English is so widely spoken, I’ve never had communication problems. Also, opening bank accounts\corporations in the ‘offshore’ country where you live, is easy, fast and inexpensive. Given the current conditions in the US, I have even more reasons to stay ‘offshore’…
Hey bro. Are you in VA ?
No I am not.
eS
Others may note that Americans traveling/living abroad often have foreign accounts.
So I do not think that the U.S. will care much about those (other than that taxes are paid and FBAR filed) as they have no idea why they were opened.
Trust me. I share your sentiment over the BS in the US. Not sure when I can leave though, as I am having to help out a family member. Wish I was doing better.
Investors Europe appears to be more beneficial at this time, since they accept individual applications from US customers. Forming an offshore corporate entity has both costs and more paperwork involved.
I do not think it is necessary to leave the U.S. at all.
At the very most, one can spend some time abroad and open accounts then. You do not need to be a citizen of the foreign country - the U.S. regs exempt Americans residing abroad from Dodd-Frank.
But for now even that is not necessary as some foreign brokers will still accept U.S. accounts.
By the way European regulators are retaliating against U.S. restrictions on foreign investment by U.S. citizens by threatening to block investment by Europeans residents into the U.S. There is a good chance this will all be settled because the U.S. is a hedge fund capital and wants foreign investors. So things may get better for a while.
Note though that a form of capital controls is scheduled to take effect in 2013 (the HIRE Act) in the form of 30% withholding on amounts passing out of the network of banks cooperating with U.S. regulators. This also could be modified but might be a reason to start getting money outside the U.S. I would prefer to have it in Asia than Europe but something like investorseurope will do for now.
Wow, good & bad news, huh? Thanks for the info. on the HIRE Act, which I was unaware of.
Hm, depends on what you like best. I’d go with solution 1. Then I’d have more choices of brokers. Gibraltar? What would I do if the broker says he stated already on his website he doesn’t accept US customers when I want to get my money? Food for thought!
I do also not believe it needs 2k to found an offshore entity. I’d just need a mailbox and it needs to be registered. In the EU there are a lot of new regulations now which makes is possible to start companies with just a buck capital and a hundred bucks for registration fees. For example in UK a Ltd.
If you have done this then you have something out of the US what gives you all options and you would never have to change the broker again just because he changes his mind about accepting US customers or not. Plus then as I said, if you chose a tax haven, you might additionally save some tax. No, not you. Your company.
AAAFx can also be taken off this list. This is what I got earlier this week.
Dear AAAFx customer,
We would like to inform you that due to the Dodd-Frank regulation imposed on US accounts, from 16th of July 2011 AAAFx can no longer accept accounts with US residence and will have to suspend trading on its existing such accounts.
In its effort not to interrupt the level of Services provided to its Users, AAAFx has arranged for your account to be transferred to the NFA regulated Broker FXDD.
As a result, as of Sunday the 17th of July 2011 your account will be operating under FXDD, with a leverage of 50:1 for all major pairs and 25:1 for all exotic pairs.
All other account properties remain unchanged.
FXDD will be in contact with you for your new MT4 credentials.
ZuluTrade will be in contact with for your new ZuluTrade credentials.
Please note that any trades left open on Friday the 15th of July 2011 at 12:00 UTC will be automatically closed, so you are advised to manage any open trades prior to that time.
Has Investors Europe ever done that or ever stated anything like that on their website?
They state that they don’t accept US customers on their website. The other thing is just what I think could happen. I would anyways not go with a broker which is regulated just by a Gibraltarian authority. I don’t know enough of this country to trust in that. It’s at the border of North Africa and not in the center of the EU. North Africa is a region where I would not park any money. Personal opinion, though. 
Here is what they write at their homepage:
“U.S. Persons : Products and Services not available to you”
Could you, please, provide me with a direct link where this is stated?