Going offshore to escape the CFTC

Thanks.
Yes, I was also wondering how long I have to stop trading waiting my account to be reset. Friday request is a good solution.
So If my account is 5000 in profit on Wednesday(payout day),on Friday it is 7000 in profit, my payout amount should be 5000 or 7000?

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It will be based on what you request. There is actually a field for you to put amount. Some folks I think will leave a buffer (I see no point), so if up 7000 on Friday, payout is based on that amount. I usually try to close everything by London close and submit request then.

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:rofl: :rofl: :rofl: What’s wrong with that guy, he is trying to scare us into using regulated brokers
https://www.forexpeacearmy.com/community/threads/brokers-operating-from-hotels-is-a-ok-from-babypips.72141/

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Yes, I definitely want to risk 20 times more than I need. The ironic thing is, he is trying to teach us financial responsibility. I’d say risking 20 times more than I need to accomplish the same thing is not financially responsible.

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You all missed the part where he threatened to have new laws on the book criminalizing use of offshore brokers. I won’t be surprised if this is a guy affiliated from one of those scam Forex dot com CFTC regulated sites/services. They created trading conditions to limit profitability of retail traders and created laws to block out competition. Probably discovered its not stopping retail traders from looking elsewhere. So they resort to flooding forums. The concern that they could technically sponsor some unwitting congressman in the middle of nowhere to sneek in anti offshore brokerage laws targetting retail traders is a reality. They will simply call it anti money laundering act, in an upside down world where off shore banking by superich is allowed, but offshore trading is not.

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Brilliantly put

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It’s how they passed Dodd-Frank in the first place. It’s also how they passed the gambling act prohibiting online poker. Everything I (or any average American) can make money at, they don’t want. It’s just ironic in the “land of the free” we have the same rights as North Korea and Iraq. Literally when you pull up a regulated broker in another jurisdiction, it states we do not accept residents from The USA, North Korea and Iraq.Funny, I was thinking the same thing though. The only possible reason for someone to be so animant regarding prop firms and unregulated brokers is if you have some affiliation with a company these other firms are taking business from. I mean the occasional negative comment OK, but these folks are investing way too much time and resources to just be “saving the world” as they claim

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How many hours/days did you lost to check and write all this? And what all this is telling us? Nothing. :laughing: I have a personal experience with them (without mentioning my account size) and all i can tell you is that im more than fine with them and thats a long term use.

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See the bolded text below for a measure called the human freedom index, which utilizes these measures to rank countries.

  • Rule of Law
  • Security and Safety
  • Identity and Relationships
  • Size of Government
  • Legal System and Property Rights
  • Access to Sound Money
  • Freedom to Trade Internationally , Freedom to do business in another country
  • Expression and Information
  • Religion
  • Movement
  • Association, Assembly, and Civil Society

https://worldpopulationreview.com/country-rankings/freedom-index-by-country

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From Myforexfunds CEO interview:

image

And he got ceremoniously banned from FPA

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Not sure what he expected. He’s doing the rounds on some other forums too. I just don’t get what point he’s trying to prove?

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Fear And Don’t Trust the Unregulated Brokers

In a nearly 12 year old thread regularly contributed to by people who know what they’re talking about and have evidence to support their stance. He should really learn to pick his audience!

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i forgot to mention FXCM behavior was so egregious U.S. regulators kicked them out of the country. After many more cases of U.S. brokers ripping off clients, I took my chances and went offshore, which proved to be the better choice for me.

Hello everyone!

As my first post here I thought I would share the results of ~3 months of research, endless emailing, countless conversations with customer support agents, and a lot of coffee. :slight_smile:

There are currently 70 brokers who have confirmed they will take US clients (and Canadians too).

I can’t post links as a new member but here’s how to find the list:

Go to the Steve Hopwood Forex forum, go to the “Alternatives to Global Prime” sub-forum, and then click on the “Brokers For Canadian & American Traders” thread.

Empty4 = MT4, Empty5 = MT5. All brokers listed offer MT4 unless otherwise specified.

At this point I’m just waiting for unresponsive brokers to respond to my emails. Obviously, some of them are better than others in terms of spread, instruments offered, customer support, the flexibility of deposits/withdrawals, and any other important dealbreaker you can think of.

The list will be updated frequently, so feel free to tune in once every few days to see what changes have been made.

Let me know what you guys think! I hope you find this list useful.

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  • Hugo’s Way
  • Number One Capital Markets
  • Hanko Trade
  • Turnkey Forex
  • LDQFX
  • LMFX
  • OspreyFX
  • Prosperity4X
  • SageFX
  • CedarFX
  • ATC Brokers
  • AAFX
  • LongHornFX
  • Oanda (I’ve heard very mixed things about them, so double down on investigating them)
  • EagleFX
  • KOT4X
  • Tradiso
  • CryptoRocket
  • Finpro Trading
  • AzaForex (no Empty4 or Empty5 available, you have to trade through their web platform)
  • Uniglobe Markets
  • Coinexx
  • EnviFX
  • FXSWay
  • BluwaveFX
  • FairForexFX
  • Nash Markets
  • XtreamForex
  • FX Wonders
  • Hey Forex
  • Inland FX (they only have a website and no other mention anywhere else on the Internet, plus they are Empty5 only, and no indication of available instruments or spreads)
  • TP Global FX
  • Crypto Altum (Empty5 only, has forex but their main specialty is cryptocurrency trading)
  • Esta Trade
  • Hive Markets
  • Interactive Brokers (no Empty4/5 platform, low leverage)
  • Forex.com (also heard very mixed things, very limited to a Standard account if using Empty4)
  • FX Live Capital
  • CapitalCore (Empty4/MT5 to arrive by end of January 2022, with the addition of more indices and US stocks available to trade. But their binary options are strictly limited to their own web platform)
  • FXGlory
  • Lirunex
  • LegacyFX (Empty5 only)
  • BitYard (no Empty4/5)
  • UNFXB (Empty5 only)
  • VitalMarkets
  • CarbonCapitalFX (Empty5 only)
  • MEEFX
  • JMI Brokers
  • SolidECN (Empty5 only)
  • EncoreCapitals (Empty5 only)
  • Investizo
  • Ventura Prime FX
  • Climax Prime (Empty5 only)
  • ExcoTrader
  • BelleoFX (Empty5 only)
  • MecuryFX (Empty5 only)
  • Face Capital Limited (Empty5 only)
  • FX Primary
  • BenchMarkFX
  • ZeyFex (Empty5 only, seems like more of a copy trade service)
  • Inveslo
  • Istithmar.co.uk (Empty5 only)
  • EnclaveFX (Empty5 only)
  • MarketProTrade.com (no Empty4/5, uses their own proprietary platform)
  • Proton Capital Markets
  • Kumo Markets
  • LidyaFX (Empty5 only)
  • Sapphire Markets (Empty5 only)
  • Investorsnet.org
  • AlphaForexMarkets.com (Empty5 only)
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Thanks a ton for sharing the brokers here.

Keep in mind all updates will be posted on the Steve Hopwood Forex forum, so you’ll have to check in once in a while to see if I’ve made any new additions or removals.

Or until I get permission to put links here. Whichever comes first. :sweat_smile:

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image

Good luck with all that Paula. :rofl:

Looks like you also got ceremoniously banned from Trade2Win as well. Great track record you have there.

Edit: And he’s gone…

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