So on a very serious note… I would love to trade with a highly regulated broker who INSURES my money. Not sure if you guys are in US or not, but that option is not available. I have been trading offshore for 5+ years, I use 2 different brokers, I’m sure you can figure out which ones by my time offshore.
I am not offshore for high leverage, no FIFO or hedging, I am offshore for exactly the reason you say we shouldn’t be…CAPITAL PRESERVATION.
As I stated above, there is nothing in NFA/CFTC regulations which insures my money, of course not offshore either. So i choose to keep 70-80% of my trading capital in my FDIC insured bank, if something happens I am still in business with a majority of my capital intact. I trade with US regulations, I have to put up 10 times more what I deem unnecessary margin to execute the same trade. So with all my money sitting at gain, oanda, IG, whatever, they go bankrupt…SO DO I.
Once again, if that money was insured, earning interest, I have no issue parking it there. Matter of fact, if these regulations are intended to “protect” us, why not require these funds be insured? Or better yet, let me trade with a regulated broker in another country who does protect my money.
The reason is simple the regulators have THEIR OWN BEST INTERESTS in mind, not mine.
On a side note, I have never had a random price spike (not seen on another broker at same time), frozen platform, price delay or any withdrawal issue…EVER. My commission is lower, my spreads are tighter.
Do a google search on the US regulated brokers, see how often these things happen with the “regulated” brokers.
THE NFA/CFTC is regulating the trader not the brokers.
Once again, this is not intended to start an argument. Just sharing my thoughts on why I prefer to be offshore. I do not want to be…I am forced to be