Going offshore to escape the CFTC

Traders Without Borders - 2

The Offshore Broker Thread

September 24, 2010 – September 24, 2020

10 years

almost 9,700 posts

more than 1,600,000 views

12 rock-solid offshore brokers listed



To all of you who have contributed to this thread, and made it the success that it is —

Thank You - 4

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but I assumed this is a standard disclaimer written on the website of most brokers listed here like coinexx LMFX, TW, etc

hmm I spoke to their chat & informed they are open to “US citizens living abroad” :wink: was able to sign up with an email & am quite impressed with their conditions so far. Nothing like trading with a broker with a regulatory umbrella yet conditions like some of the brokers listed here

A topic came up on babypips: “Is manual trading coming to an end?” I posted a lengthy response about this. Here is a link to my thoughts on the subject for those interested.

I filled out the application and waiting to get their final approval but not looking good so far. This is the screen that came up after I submitted application.

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The disclaimer mentioned on all brokers that accept U.S residents that I have seen are either not there or the wording is different from ones that don’t allow it. Such as this for example from LMFX “All information on this website is not directed toward soliciting citizens or residents of the United States.” Compared to the ones that don’t allow they usually say something along the lines of " IC Markets does not accept applications from residents of the U.S. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation." Also drop down box for country location will usually have U.S missing from the list as well.

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FxView

To: @Josh73 and @John81az

I think you guys are wasting your time trying to sign up with FxView.

This broker is domiciled in Cyprus, regulated by the Cyprus CySEC, and by several other European regulators (FCA in the UK, BaFin in Germany, ACPR in France, CONSOB in Italy, CNVM in Spain, and Finanstilsynet in Norway).

There’s a reason why we list NO offshore brokers in Cyprus, the UK, Germany, France, Italy, Spain, Norway, … or a host of other European countries:

The regulators in these countries forbid their brokers to host American clients.

If you succeed in tricking FxView into taking you on as a client, by pretending to be someone other than a U.S. citizen living in the U.S., expect to be found out. Expect to have your account closed abruptly. And don’t be surprised if you walk away with your initial deposit, but none of your profits.

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Hello @Clint

first of all, congratulations on completing 10 Years for the thread :slight_smile: , its a great thing that you are doing and it definitely has helped me over the last several years.

With respect to fxview, I think its a solid broker and can end up being a very rare find.

Their commissions are by far excellent, their spreads are super amazing when compared to any other broker that I have seen. They infact are more competitive than coinexx or for that reason better any other broker that we have on the list.

If you remember, I said the same thing about coinexx when it was first introduced on this thread and I have been pounding the table that crypto based brokers will be the way forward. Since then we have seen many brokers come up with the same coinexx theme.

It might sound too dramatic, but often times we find gold where we least expect it to be.

I will do. My research on it and will share with everyone here on this thread.

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you should start another thread on FXVIEW, they won’t be listed in this thread with them being heavy regulated with strict rules not to accept U.S. Residents

@SmallPaul really! when did you start making decisions about this thread ?, Good Morning !

I left this thread because of “Toxic Flow” that we saw in here and I dont want to have anyone start that again.

we have never listed a broker that is regulated by those regulators and we have only list brokers that openly accept U.S. resident :kissing: also FXVIEW will be in serious trouble with those regulators if they accept u.s. residents

to easy for the NFA/CFTC to go after a broker that is heavy regulated like FXVIEW, they are regulated by the following regulators

Cyprus Securities and Exchange Commission – CySEC

UK Financial Conduct Authority – FCA

German Federal Financial Supervisory Authority – BaFin

French Autorité de Contrôle Prudentiel et de Résolution – ACPR

the Italian Commissione Nazionale per le Società e la Borsa – CONSOB

the Spanish Comisión Nacional de Mercado de Valores – CNVM

the Norway Finanstilsynet

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If I’m reading this correctly, the US government wants to put US based crypto exchanges under control of the CFTC. Yay.*

*that’s sarcasm

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To me it looks like you are bringing in the “Toxic Flow.” SmallPaul with 773 likes on this website has been a major contributor to this thread, and I have enjoyed his comments. Pointing fingers like that just isn’t a good idea and only brings in a bad tone. We don’t want that here.

Also, why is FXview even a question here? It’s KYC; you have to upload documents like you do with Tradersway. It would be like me trying to get an account at Ducascopy or Blueberry Markets, just isn’t going to happen.

I went on my London VPS to see if I could open an account. It’s not just open an account with email and use Crypto for funding kind of Broker. See below…

With my London VPS I have an account with Evolve Markets, but they are not on our list because they don’t accept US clients.

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thats because I dont go around sockpuppeting. And those who have been on this thread long enough can easily recall what I mean by “Toxic Flow”.

with respect to fxview I continue to believe that it is a rock solid broker and that those guys do accept US clients. Even is this broker takes clients under certain limited curcumstances and in return we get a solid regulated and extremely competitive broker, it is worth the time and effort. Atleast for me (and some other trader like me who read this thread regularly)

I’ve been on this thread long enough and personally have accounts on most of the brokers up there.

Not all brokers that we have been discussing on this thread accept clients without a KYC. Infact most of the brokers, after 1Broker took the pinch, imposed KYC requirements.

Im just not up for another John Anthony event.

And thats the reason why threads like this exist. To evaluate and to share information.

there is a thread on fxview you should post your findings there

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Yeah i Just filled out an application. It straight-forward stated “we are currently only accepting EU residents as clients.” Not sure what there is to debate about that. They look like a really good broker, as far as FX brokers go. But unfortunately they don’t want our (American’s) money.

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Well thats half of the story. The second half of the sentence says “however our compliance will review and confirm is we can accept your application”.

Brokers who want to reject, simply don’t open their websites here in US or simply says We Don’t Accept. Not with a “we will get back to you”

Almost all brokers we have says they Don’t accept US clients (in their footer) but they still take em on.

I dont see what is there to loose if fxview accepts clients from US as some backdoor method. What is the rush to discard a new broker on this thread :thinking:

Possibly. Most likely, they just say that so you still hand over your data, which they compile and sell as a mailing list to anyone that wants to market to you. An assertion reinforced by the fact that I’ve been inundated with emails from brokers I’ve never heard of since submitting an application. The differentiation in language is because they’re clever and have created a new profit center. If they accept me as a client, I will eat my crow with a big smile on my face and update this forum singing your praises Sir.

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go try and open account with fxview and let us know what happen. stop guessing and try it :shushing_face:

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i just tried to open account with FXVIEW they ask you like a 100 questions the process is long and drawn out, only to get the following respond at the end

Thank you for the information provided.

We currently accept only EU residents as clients, however, our Compliance team will review your application and confirm if we can accept your registration.

EDIT: we have a enough trusted brokers on our list that can rival any heavy regulated broker.

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Post again once funded and trading. I bet that post never comes. I get what you’re saying, if they will take us, should absolutely be listed here. But I with 100% confidence assure you, you are completely wasting your time there. EU regulators have “agreement” with CFTC, for lack of a better term to not allow brokers under their jurisdiction accept US clients.

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