It appears that United States persons cannot get
a simplefx.com account. Perhaps bitcoin only can be used
anonymously, and perhaps that was the point of
the prior post, but hard currency is not an option
for US persons.
hyperscalper
SimpleFX
Thanks to autobits and HyperScalper for your info on SimpleFX.
Given the fact that SimpleFX is available to U.S. clients only through bitcoin-denominated accounts (not through the more usual USD-, EUR-, or GBP-denominated accounts), I will hold off adding this broker to our List, until a larger concensus develops here in this thread.
If a majority of members favor including bitcoin-only brokers, those brokers can be added in the future.
Updating links in the Offshore Broker List
The links shown in Group 1 of our List have not been updated since the middle of October.
Since then, 6 or 7 posts in this thread have contained info which should be linked in our List. I will attend to that chore over the holidays.
Lately, the link-worthy posts have all involved our three Trusted Brokers.
Does this mean that our membership has gravitated toward those three, and basically abandoned the other 10 brokers in Group 1 ? — I’d be curious to know.
.
“There are more brokers available to U.S. citizens which also offer anonymous trading that aren’t on the main…”
Autobit, I am very interested in knowing which other brokers are available to US residents.
Confirming re: SimpleFX! U.S. citizens can open Bitcoin denominated accounts. However, U.S. citizens cannot open fiat (USD) accounts.
My accounts (re: the list):
From the “Three Trusted Brokers” - I have Trader’s Way. Very happy with them! (Also, 4 family & friends use them). I really like the 100% deposit bonus, so just growing that account for now. Haven’t made any withdrawals, so can’t comment yet.
From the “other 10 brokers” list - I use ProfiForex. Happy as well. Will continue to use. Have much larger account than I have with SimpleFX, however I’ve only made one withdrawal and it took 2 days to credit my account, whereas SimpleFX took 1 hour or less - consistently.
Hi. I didn’t mean to make it sound “…other brokers…” - in general. I meant Bitcoin denominated accounts. I’ve edited the last paragraph in my main post to make that point more clear.
That being said, I’ll hold off posting Bitcoin info, as Clint said: “until a larger consensus develops here in this thread”
(P.S. you can easily search these on your own until then)
Merry Christmas everyone - may 2016 bring you plenty of green pips 
Right now, I use Tradersway, Fxchoice, Tallinex, and The Forex Broker Inc.
However, I have read about the anonymity of Bitcoin denominated accounts, and it made me feel safer knowing we have other options, in case, if the CFTC finally does succeed in closing off all decent offshore broker options for us, I mean you never know. However, I only researched the topic briefly and did not understand how one would pay taxes on it and Also, in a regular account if I have $100, I open a 1 micro lot position which equates to $1 per pip, I know I can go -100 pips before I hit margin call. So when I was doing my research on the topic a few months back I could not understand that aspect using a Bitcoin denominated broker, that’s when I stopped my search and now Autobits has reignited that blame.
Well, ‘they’ did it to us with online poker, right? Next, was drastically cutting our leverage. Because you and I are just not intelligent enough to know what to do with our own money. Honestly, I still don’t see why ‘they’ are trying to do away with the small retail trader? Why FIFO? Why no-hedging?
It’s just a bit different. Takes a little adjustment in thought process. Bitcoin (BTC) are ‘units’ (actually called Satoshi)… One wouldn’t buy stocks in terms of ‘micros’ but ‘price per share’ and commodities are ‘contracts’, etc… (not sure if that sounds the way I’m thinking it :31:)
Current price of Bitcoin, in FX terms, I’d say is fairly close to .01 lots (BTC) = 1 mini ($1 per pip). But that changes as price of Bitcoin fluctuates. I set my position sizing based on amount of margin used and % of account drawdown. My goal is to risk as little as possible per trade, that still allows me to hit my daily target. Once you find that initial unit size, you’ll have a benchmark to go off of.
I hope that helps at little.
I have added the following links to the Offshore Broker List (on posts #1 and #2 of this thread):
Tallinex — posts #3207, #3245, #3250, and #3270
Trader’s Way — posts #3210, #3253, #3263, #3268, and #3270
FX Choice — posts #3237, and #3270
ProfiForex — post #3268
Forex Broker Inc — post #3270
It became necessary to split up the [B]Central America / Caribbean[/B] category, because of Babypips space limitations (15,000 characters per post). That category now begins on post #1 with the Forex Metal listing, and then continues on post #2 with the rest of the brokers in that category.
The first 5 posts in this thread are just about at their limit for size. In the future, in order to add new listings or new links, some older links will have to be removed to make space.
If we happen to get lucky, and get a bunch of new brokers to add to Group 1, I’ll just move all the links to a new post at the end of the thread, and link the Offshore Broker List to that new post. There’s always a work-around.
If I don’t talk to you guys before the weekend —
Happy New Year, guys!
If you’ll be celebrating New Year’s Eve,
enjoy and stay safe.
.
As I’m starting a trading operation, it now becomes an issue of
- funding methods, and
- withdrawal methods
As we know, the US is “leaning on” major money transfer
organizations, and forcing them NOT to do business with many
or all of the offshore brokerages we are discussing in this thread.
My funding partner is already experiencing problems getting
money into the brokerage; and I’m getting anxious concerning
the methods I/we both have of repatriating profits… Both of
us are U.S. persons.
SO IT OCCURS TO ME that we should attach information on the brokerages
relevant to our available money transfer methods. This can include "creative"
suggestions, such as moving into Bitcoin or other avenues of withdrawal
and eventual transformation into USD stateside.
This is NOT oriented toward evasion of reporting requirements, but just
getting timely, reliable and especially “cost effective” methods of withdrawing
profits. Let’s say, for example, that a wire transfer inbound to the
U.S. is $95. Seems a bit high, so what are the alternatives? and such
questions…
Clint, does it makes sense to you, and everyone else, that this is the next
logical area to explore and attach to the offshore brokers available to US persons?
hyperscalper
berndalecapital dot com/
How about the above broker, they accept usa clients provided they are not solicited…if we contact then…anyone have experience with them??
its been so long since I’ve logged in my old email address used is no good so, let begin again…
Great idea, Information sharing of that sort would be very helpful.
Autobits, Thanks for the explanation on using a Bitcoin denominated account. I actually did not know anyone else that had experience using a Bitcoin forex broker. Especially the part of how easy it was for you to withdraw your profits.
HyperScalper, I have noticed that many times, the withdrawal and deposit methods that brokers list on there main websites are not the same for US residences and it seems, as you mentioned, the options for withdrawing funds for US residences are slowly decreasing. Eitherway, it would be nice to know which money withdrawal options are still available to US residences without having to constantly go to live chat or emailing each of the brokers.
We have talked about deposit methods lately. FX Choice added 2 new methods to make deposits: PerfectMoney and PaySafeCard. I am not sure though if they have any geographical restriction on it.
With FXChoice US residences can only deposit Bitcoin and Wire transfer and withdraw funds only Wire Transfer… 
limited for sure.
Yes, but deposit fund costs via wire transfer “might be” given back to US residents above a certain level of deposit.
Tallinex allows debit/credit card deposits for US residents, and free withdrawals back to cards (up to the amount originally deposited).
Thanks! Slowly it would really be good to have a table or another option to compare brokers in this issue. It is easy to get lost what is possible at which broker. Every single one is different
any problem with US banks accepting Bank Wire deposits from Tallinex or Traders Way?
No genuine issues when wiring clients - just the usual annoyances of clients providing incorrect information.
The same thing occasionally happens when clients send wires - either they (or incompetent bankers) put incorrect / incomplete details on the wire forms.
Is it US residents banned from brokers because of tax ?