Going offshore to escape the CFTC

I’m confused. This broker lists only a New York address, and the following was copied and pasted from their website — http://www.tradenextglobal.com/:

Tradenext is a trading name of NFA registered broker APPL International ID No. 0213616 giving all clients, throughout the world, the benefit and peace of mind knowing their deposits are segregated and covered by the regulations of the NFA client money rules.

Is it your understanding that this is an offshore broker?

They’re listed as a German broker at EarnForex: Tradenext Forex Broker, Tradenext Review, Tradenext Information
I sent them a follow-up question asking about the maximal marginal leverage they currently provide for their US customers.

I asked them by email for an update yesterday and they replied the following: “There is no update on this issue.”

I received email confirmation from HY markets. I really think this issue and how the rest of this change plays out is contingent on the fsa of the uk. If they tell the cftc to shove it, I think it will force a change.

You can add hy to the list, though the email had some specifics, so I am going to call them directly to get a definite answer but they look like a yes.

Would you be kind enough to post the full text of their response here?

The email came from Mario Challis the managing director. It has other personal info in it. That is why I didnt post it in the first place. I would think their MD would be a pretty decent authority but if you haave other info please post it.

No need to post any personal info (such as name, position held, or contacts). Just the text of the message itself. Really curious to learn of all aspects in regard to the acceptance of US citizens by this broker.

Done…

I am as well. I sent him a direct email. he has been prompt in his replies. I will post the full text when I receive it. Hoepfully it is a complete yes, as I would love to have a solid uk broker.

Thanks in advance - I look forward to it too.

forex assistant, I have also been looking into more drastic solutions like the ones you mentioned.

The Offshore Brokers list has been updated and moved. For the current list, scroll forward to the latest page in this thread.

Thank you, been looking for a list as such. Glad to see that fxopen is on the list since I’m planning to open an account with them

Hallelujah - Swiss-based MIG Bank which was the first Swiss Forex broker to obtain a banking license has also announced their acceptance of US customers:

MIG Bank accepts clients from US to open a live account for spot Forex trading.

Let Gary Gensler accept my sincere condolences.

AccentForex has taken the same positive stand and also qualifies for our list:

AccentForex does not have FSA and NFA licenses as hundreds of other brokers
which are not located in the USA or Great Britain.
So we don’t regulated by USA governments’ institutions and we don’t have any
restrictions for clients from USA.

Kind regards,
Support.Center

Here is an update on Todawul FX

E-mail sent to my platform

What this means for you

Tadawul FX Ltd is an EU licensed and regulated brokerage firm and as such, will not be affected by the rules set forth by the CFTC. As such, TDFX will continue to accept US clients as before and offer leverage of up to 1:500 on all Mini and Standard Accounts, the two major areas of concern.

At Tadawul FX, we continue to provide our clients with fair and ethical trading conditions and offer a safe and secure trading environment. We remain competitive in the market place and aim to give you quality products and professional service and support at all times.

We wish you successful trading!

This is great. The big swiss banks are standing up to gensler and the cftc. Austalia is doing a decent job. Now we just need the UK to follow suit and it will only be a matter of time before things go back to normal.

MIG is a big win for us.

"only be a matter of time before things go back to normal.
MIG is a big win for us. "

Not really, 'know your enemy" when fifo went into effect, we left for greener shores. But what did they do? Passed a law to make it so we had to work within their parameters. Has the nature of the beast changed? Why would they give up their prey that they have worked so hard to contain? Not yet. As long as you are a US citizen, [I]you[/I] come under their guidelines.

Traders are the best risk managers on the planet. Make it a trade call, buy into the government not taking a position against the willful trader that defies their orders? Or sell out of their game to golden shores? Which way has the trend been going? Personally, I have a low tolerance for risk.
By the way, good research effort here.
Bob

Glad to be of help. We live to serve.

Got 'em on the list.

Will update the list in a few hours.

Thanks for the confirmation, jc.

I agree, but I also agree with forex assistant, below.

The KGB, I mean the CFTC, isn’t finished. They have a larger agenda for retail forex in the U.S., and you ain’t gonna like it.

Thanks for the compliment, Bob.

Due to Gary Gensler’s efforts, the United States of America has become part of some very prominent country lists - such as this one with JadeFX:

  1. Burma (Myanmar )
  2. Albania
  3. Belarus
  4. Bosnia & Herzegovenia
  5. Colombia
  6. Democractic Republic of Congo
  7. Cote D’voire
  8. Cuba
  9. Croatia
  10. Iran
  11. Iraq
  12. Kosovo
  13. Lebanon
  14. Libya
  15. Liberia
  16. Macedonia
  17. North Korea
  18. Serbia & Montenegro
  19. Sudan
  20. Syria
  21. Zimbabwe
  22. Residents of British Columbia Province in Canada
  23. US Citizens or Residents

Being on the same traditional ban list with North Korea, Sudan, Syria, Zimbabwe, Iran, Iraq, Cuba, and Congo sure goes to show something. :wink:

I just hope the States will soon vote out their current communist government and get back to normal. Geez, and this used to be world’s number one democracy for decades. :frowning: