Has anyone used Forex Broker Inc.
Forex Broker Inc | Forex Trading | CFD Trading
Are you guys still at this?
Isn’t this called breaking the law why are you guys influencing americans to use offshore brokers? This is wrong the American Government will freeze all profits in those accounts and possibly impose a fine on you or imprison you for doing such unscrupulous acts.
We shouldn’t try to find ways to evade the Dodd Frank law that is illegal.
It was a sad day when the government let all the mad people out of the insane ward…sman1109, you are the one who belongs behind bars, mental hospital bars, for your mentally incompetent OCD to control other people’s lives…try controlling your own self, like the rest of us self-responsible people, the highest percentage of which reside in the still great US of A, where freedom still exists, if at an ever decreasing level.
Hi,
Has anyone tried any of these brokers? I want higher leverage and hedging, but I’m a little nervous about going off shore for a broker. I have a mini account at Trader’s Way, they seem to be all around ok, I haven’t seen any funny stuff from them but I’m not dealing with large sums of money either.
fxvv
IronFX
FXUP ME
Hi Klepto,
I gave IronFX a closer look months a go and they were on my shortlist but eventually decided for PaxForex. I have never heard about FXUP ME. Since you mentioned you had some minor issues with Trader’s Way, why did you stick with them or did you already migrate elsewhere?
Regardless of how little money you decide to fund your account with, you should never experience any issues in my opinion.
Ive been with Trader’s Way around 2 months now. I actually hadn’t had an issue with them up until shortly after my post. MT4 had no connection for like an hour. I know it wasn’t on my end because my MT4 demo accounts and internet connection was fine. I sent them an email and they responded and had the problem fixed within about a half hour. It’s a good thing I didn’t need to close/modify any positions during that time.
I am kind of interested in FXVV. 100% deposit bonus and:
Mini account - Conventional and Islamic
Start trade with 0.01 lot
Leverage 1000:1
Spread start from 1.5 pips
Renouncing your U.S. citizenship.
File this under [I]“Extreme Measure / Last Resort”.[/I]
This isn’t [I]necessarily[/I] something you want to consider doing, at this time — just an option to be aware of.
Socialite dumps US passport and most taxes - Business - Personal finance - Tax Tactics - msnbc.com
To even consider doing this, you basically need to have three prerequisites in place.
First, you must have a second passport, meaning citizenship in a second country. In some cases, it is possible to have more than two valid passports at the same time. A friend of mine has U.S., French, and Canadian passports, acquired in that order. Her French passport is essentially an E.U. passport, allowing her to live and work in any E.U. country (and to travel to scores of other countries without visas).
Second, you must determine that the laws and customs of your second country are compatible with your personal and business circumstances and needs. Then, you need to transfer your affairs from the U.S. to your second country, prior to initiating the process of renouncing your U.S. citizenship.
And third, you need quite a lot of money to pull this off — it isn’t cheap. But, if this step allows you to save a substantial amount of U.S. tax, then you can actually end up richer, rather than poorer.
This is not a step to be taken carelessly, or impulsively.
If the U.S. government would stop meddling in our business affairs, and if the U.S. government would stop taxing us to death, then U.S. citizenship would be one’s most prized asset, and renouncing it would be folly. However…
Hey Klepto, give them a try and tell me your experience if you don’t mind. Be careful with very high leverage unless you are experienced. Leverage is great if used correctly. I just checked them out and short-list them for a potential trial. Since you like bonuses, check out the $200 No Deposit Bonus PaxForex offers. That was my reason why I gave them a try instead of IronFX. So far I had only great experiences with them. I look forward to your comments about FXVV.
The issue you had with TW sounds a bit strange but if you did not lose any money due to that its all good.
Hey Clint, to be honest I am surprised that not more have renounced their citizenship. I think we will see an acceleration of that trend. I have already considered it…
CLINT!
You are going to take PFG best off of your list, right?
oh, almost forgot they weren’t on there to begin with…good thing…hope none of you guys had any money with them…no regulator could stop that…what a mess!
Wow, for the second day in a row… Trader’s Way giving a “no connection” “common error” for over an hour now on my mt4 platform. Prices of all pairs are frozen. I’m glad I have only pocket change tied up with this broker. I’d advise not using Trader’s Way. By the way, I’m a trader, and this is not the way I’d choose my broker to behave, I’d suggest the company change their name to “Broker’s Way”.
Also IronFx do not support US clients.
You don’t need the USA government to freeze your profits, you already have well known USA regulated forex brokers already doing this for you. For those who have not heard, PFG Best has essentially been shut down, pending $200+ million dollars missing from segregated funds account. Did I mention that the CEO tried to commit suicide? Apparently CFTC did not learn from MF Global.
This was all very timely, surprising only in the sense that PFG is an older and fairly establish company. Some people say there were problems over the last 2 years, but as a casual outsider I would have never seen it coming.
So I am wondering who is left of the overseas brokers who allow US clients? I only know of FinFx at present. That 200:1 leverage is quite enticing.
I have a question as to if the rule applies only if you live in the US? If you are a US resident but live in say Ecuador, can you use most of the overseas brokers? Sorry if this has been clarified already.
Does having an overseas broker allow one to cheat on their taxes, i.e. to not state their profits? Just wondering.
Edit: My bad, I didn’t realize group 1 was a list of offshore brokers that allow people is US to open accounts.
Hi FXAll,
The brokers Ive seen that do not support US clients usually have a pop up box saying so, or will not allow you to pick “USA” from the drop down box when signing up for an account. Neither of which show up when I go to open a live account with IronFX. Are they now accepting US clients? Or do they allow you to sign up, and then cancel your account later? I’m just curious.
Originally, [B]IronFX (Cyprus)[/B] was in Group 1 in our List (brokers who will deal with U.S. clients).
Then, they were moved to Group 2 — I don’t recall why, or precisely when.
If you guys can confirm that they will, indeed, open new, live accounts for U.S. residents, I’ll be glad to put them back in Group 1. We need all the new additions to Group 1 that we can find!
On June 11, 2012 I asked Ironfx through their chat window if they accept US traders. They said basically, “Sorry, we do not.” I’ve been having royal hell trying to find a broker as good as TradingPoint was, after what some people might call the Dodd-Frankenstein mindless airheads, shut down TradingPoint’s American trading department. You could trade gold with less than fifty cents and oil with fifteen dollars and the Dow Jones with ten dollars with TradingPoint, a fantastic broker. I plan to go back to them if Romney wins and repeals the very unfair Dodd Frank law. Recently a broker, that I’ve had for about a month, that may ryhme with “EssexGory” pulled some funny stuff on me asking me 4 times consecutively, AFTER I clicked the blue buy tab, if I wanted to buy the Eur/Usd recently when it was in a strong recovery from an earlier sharp selloff. Each time they repeated the question, I clicked yes. Then they asked me again. I think each time they raised the buy price to above the market, then they were maybe planning to use my money (less than $10) to buy at the actual market and make a small profit when I sold, but showing less of a profit, if any, to me since I had agreed to buy above the market price. Then the price moved too much higher for a safe buy, so I gave up on that trade. Otherwise they’re a pretty good broker most of the time, especially with gold. I hate to dump them, but I may if they don’t always give quick trade executions in the future. Paxforex said they have been having some problems receiving their new account email registrations, so I am waiting to open an account with them. I want to thank you other traders for sharing your offshore trading experiences and advice, that’s great. Keep up the good work. If we team together we may be able to start whipping those regulators, who are hindering, not helping the economic recovery attempt. You would think, if the Dodd Frank people wanted to do some real good, that they would immediately shut down all the lotteries, to protect the average Joe from almost surely losing his betting money, where the leverage is millions to one against him, but no, they won’t dare do that, because organized government is making too much money on that to do away with it. There were bullies in high school, and now some of those bullies have grown up and haven’t changed a molecule, it seems, except for making unfairness legal and sophisticated.
It’s not illegal to trade offshore. The illegal part is not paying your taxes as defined by law. Ask Willard.
That’s why you either:
- study the tax code till your eyes bleed.
- take those insane profits of yours to hire someone to do #1 for you.
#2 seems better to me.
Could have not said it better. I totally agree and I don’t get why people think off-shore trading is illegal.
You will find out that it is legal for a U.S. citizen to do.