Going offshore to escape the CFTC

[B]Internaxx Luxemborg clearly states No Us Clients on their web site.[/B]

Open a Forex Account Opening an Internaxx derivative account is quick and simple. Please note that we are not able to accept US residents or US citizens as customers
rs.

I am new to this, can someone explain the purpose of all of this.

Is it really to MAKE US watch over our own personal spending? or am I just over looking something?

even though I am a conservative in nature, was GLENN BECK right all along?!

So when it comes down to it, this is just making us insure our bets?

Before you know it, we are going to be required to prove there is a money to back up our spending in Vegas, I am from Missouri {donā€™t live there any more} but they have a limit on how much you can spend in the casinos in a 2 hour period, I want to say that you can spend up to 500-2000 of your own money. Once you ā€˜loseā€™ that, you are done for the night {unless you profited}.

Protecting the public may be 5% of the motivation for these new rules.

95% of the motivation is:

[ul]
[li]A MASSIVE POWER-GRAB ON THE PART OF REGULATORS. These people believe in total government control over all aspects of everyoneā€™s lives (except their own, of course).
[/li]
They actually believe that they know best how to run the world. And they hate anything ā€” in this case, retail forex ā€” which they consider to be ā€œunregulatedā€.

[li]JEALOUSY ON THE PART OF CFTC-REGULATED FUTURES AND OPTIONS EXCHANGES, who see the ā€œunregulatedā€ off-exchange spot forex market as a threat to the long-term profitability of their businesses. To them, it just isnā€™t fair that they have to play by the CFTCā€™s heavy-handed rules and regulations, but retail forex is free of all that.
[/li]
What the giant futures exchanges really want is for the government to give them CONTROL over spot currency trading, just as they have control over currency futures and options trading.[/ul]

Put it like that, they sound like they are socialists.

They ARE socialists.

The loss limits in missouri are a thing of the past.

Sure, thatā€™s all true, but jforex allows you to write little java snippets for EAs. This is so much more powerful than MQL.

Right! Thats more powerful. I also agree that the reaction time is much better. But on the other side I do not want to code my EAs in two different languages. While mq4 is a bit like java, I have the gut feeling it is a lot of work ā€¦

As they have a betatest I hope they will make that production running in a few weeks. Until then I can just trade my EA in parallel while opening/closing manually the trades at the other broker.

As I said: I like DC. But I also like the Metatrader. :slight_smile:

Right on. I have a java-MetaTrader bridge, so Iā€™m using the exact same code to access jforex as I would MetaTrader, so the advantages of jforex are even greater. If youā€™re interested I can tell you where I got the code to access MT via java.

java guy,

thanks a lot for your offer! :slight_smile: I know there is a bridge and I know where it is for download. I just donā€™t use other code if it comes to my money. If I do not know the code, I have fears there is a bug or something inside and then - flash - one day my money is gone, lol.

I also trade only big moves right now on that, so that it is not a big issue. If my new scalping robot becomes more important I will probably give it a try however. Plus if they get really 5 digits in price.

How does it work out for you? I mean the bridge.

It works wonderfully, actually. Iā€™ve tested it very thoroughly against several different demo servers, and havenā€™t encountered any problems (that are specific to the java connection, anyway). As far as the meta trader server is concerned, youā€™re just running a plain old EA.

Switching to dukas has really shown the strength of my design, since the only piece of code Iā€™ve had to write is the class the provides market access (querying prices, submitting orders, etc). I just plugged in the jforex version and all of my systems work in exactly the same manner.

Thanks for your feedback! :slight_smile:

I may come to it in the future. Right now my bots work with my mt4 trader. I just plan for the future, when my account will be bigger. :wink: Thatā€™s why I distribute my money now over several brokers. Then later on I can just switch or whatever I need to do. You never know ā€¦

A new addition for today - FXM Trade:

Hi,

The new US regulations doesnā€™t affect our company. We will still accept US customers.

If you have further questions do not hesitate to contact us.

Best Regards

FXM Broker Group
LONDON,N134BS
United Kingdom
Tel: +44 2032 390 695
Fax: +44 7005 805 260
e-Mail: <[email protected]>
Home page | FXM Financial Group | FOREX | FOREX Broker | FOREX Trading | ECN Broker

Spot on! Somewhere in a smoke-filled back room CME lobbyists are handing over bribes to CFTC peopleā€¦ Iā€™m sure of it!

Not argueing, asking a real question.

So are you suggesting we should forget it because it is in the ā€˜pastā€™ ā€¦

PLEASE donā€™t downplay the fact of the matter.

put it in vague terms

a Privately owned casino on waters {the river boat as it is called} is being regulated by the state to only allow you to spend a certain amount of money because to many deadbeats are becoming broke.

So if you make 100,000 a year & want to go on vacation, you canā€™t spend more then 2,000 of your own hard earned dollars.

This is the problem, regulations like this come out ā€¦ people get used to them ā€¦ so they come out with more & more.

I am almost ready to claim citizenship to Australia.

Same here, I really like their country.

I was deployed in 2007, and they were with in their desert along with some hanger contractors from Aussie, they are really the nicest, most laid back people I have ever met.

If Obama has his way {no offense to any demā€™s out there}, just stating my side, but if he starts this trend and it goes off, I donā€™t know what citizenship to consider.

I personally think that this presidency control is just a stepping stone for Obama and he can care less about the U.S., the top spot at the U.N. is where he has his eyes set, and he all ready knows the inner workings here so he can tear this country apart.

I am neither the kind of a guy who would buy into the ā€œyes, we canā€ stuff. So for me, it would be either Australia or New Zealand. Both are English-speaking, developed, safe, warm, and with high living standards. Some countries of the Caribbean might also be an attractive option, but they are quite small.

THe world has become the playground of the elite. They do not control governments with war but with the money systems they manage. There is no place you can goā€¦

Nonetheless, some places are a lot less restrictive than others.