The CFTC claims to have regulatory jurisdiction over any offshore forex broker having a “presence” in the U.S. — by which they mean an office, an introducing broker, or even a U.S. telephone line.
In addition, the CFTC contends that any “solicitation” of U.S. residents by offshore forex brokers makes those brokers subject to CFTC jurisdiction. And they say that merely having a website which can be accessed by a U.S. resident constitutes “solicitation” on the part of the broker, if that resident is introduced to the broker via the website.
Some offshore brokers are responding to this CFTC crap by requiring U.S. account applicants to certify that they have not been “solicited” in any way, shape, manner or form. This includes certifying that they did not learn about this broker, or become interested in opening an account with this broker, as a result of visiting the broker’s website.
For example, see this PAGE from the Investors Europe (Gibraltar) website.
Okay, let’s play the CFTC’s stupid game.
From now on, I suggest that any member of this Forum who (1) is a U.S. resident, and (2) wants to inquire about opening a trading account with any of the offshore brokers on our List, do the following:
• Find the broker’s email address in the 3-page List of Offshore Brokers, at the beginning of this thread.
• Make your initial contact with this broker via email, and mention that you got the broker’s name and email address from an online forex forum where offshore brokers are discussed.
• Explain in your email that you are a U.S. resident interested in moving your forex trading to an offshore broker.
• Ask for information about live trading accounts, and instructions for opening an account.
• Do not mention the broker’s website. Let the broker refer you to his website.
• After this initial contact, you are free to visit and use the broker’s website, because your email documents the fact that (1) you solicited the broker — he did not solicit you, and (2) you did not find this broker by visiting his website.