Sorry to disappoint, but this is something that affects clients in all countries, not just the US - not sure if it’s driven by local regulators, or just another “sounded like a good idea at the time” policy decision by management at the bank. Either way, it is what it is, and measures have been taken to minimise disruption.
Thanks for the quick response. I was more concerned about this being the start of something affecting US clients going forward (FinFx earlier this year as an example). I’m always waiting for the other shoe to drop since that happened. On top of that, we have the CFTC red list or whatever they’re calling it.
Slightly off topic, I noticed most of the companies on that list are options brokers. Maybe the CFTC has a new axe to grind with trading binaries. Probably lots of whining Americans wanting their money back after trading poorly.
Hi Clint,
just for the fact and an official answer, I contacted FXChoice what is their take on being on the list. The answer was similar to your analysis which means you see the situation quite well.
They told me “it is an awareness” for the clients but “it has nothing to do with us”. Then they also attached the sentence from the bottom of the page which you already analysed.
So basically they gave the answer “you wish to hear from all offshore brokers” which means they just do not care about what the CFTC says.
FE
Good to hear what they have to say. Just a smear campaign after all, Investment trading of any kind is hard enough and can take years to learn. One of the effects the red list has is the first time an American attempts to invest with any of these red listed entities and they lose like all do before we learn the tricks of the trade, before jumping in will recall seeing the red list and take no responsibility for the consequences, spread the word about there horrible experience (95% or more lose right), and informed investors from the U.S. lose the freedom to choose for ourself with whom we invest our money.
Yep. The CFTC is BS. What ever happened to the USA of self determination, Since when do CFTC Analysts know what my trading style requires:confused:
Nice to know what a broker thinks of it. Thanks.
Has it occurred to anyone other than the CFTC on this thread that a major form of “solicitation” in the eyes of the CFTC is probably when the broker chooses to start their server’s “day”…Maybe the reason FXChoice and Traders way are on the radar over at the CFTC is because their servers are using a NY start of trading day time just my thoughts. Thats actually one thing i look for is a broker that has as little to do with the US “der riguere” as possible. :33:
I have good news to be tested by the willing…I have recently opened a new account with SFX Markets @ www.sfx-markets.com, they are headquartered in BVI and so far so good they have verified my account. The only caveat is that i have not made the initial funding deposit, so if anyone is game and wants to make the opening deposit and tell the rest of us about their experience, then perhaps we can finally add a broker to list 1 instead of removing them:35: I hope as we get further and further away from Dodd-frank passage/implementation there will be more brokers like those in list 1 who would prefer the additional consumer demand and find ways to create the supply. In addition tell us what the trading conditions are… the website says hedging allowed but idk if that include FILO and offsetting positions or what? I have accounts with Tallinex, FxChoice, and Tradersway, I again thank Clint and Co for this blog that helps us get what private citizens deserve from a “free market” capitalist society.
Heads up, Moneybookers/skrill is no longer allowing US clients to deposit or withdrawals to Profi-forex (did a test deposit denied and asked live representative). Did a test deposit into Tradersway via skrill, funded within seconds.
Hum… I would like to have more info …
Seems only way to find out more would be to ask skrill… They don’t seem to have live chat, and I don’t feel like waiting a week for an answer, Skrills response to emails is rather slow from the last situation I dealt with them few months back.
Some general comments about SFX Markets.
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Legal registration is in St. Vincent and the Grenadines (not British Virgin Islands)
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Listed telephone number is in New Zealand (country code +64)
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In the Terms of Business document, the Company’s hours of operation are shown in
GMT+1 time zone (central Europe) — Server time zone is GMT -
Trading Conditions can be found HERE.
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They claim 47 trading instruments (forex + metals),
but I counted 28 currency pairs + spot gold and spot silver -
Spreads: during the time that I was watching their spreads,
they varied from 0.0 pip (EUR/USD) to 6.0 pips (GBP/NZD) -
Transaction costs are: spread + commission.
Commission = $25/mil (each way) = $50/mil (round-turn) = $0.50/mini-lot (round-turn) -
Demo account does not expire, as long as you log into it at least once per month
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They offer credit card funding, but do not specifically state that this is available to U.S. clients
.
Just a note to say thanks to the many contributors to this thread.
Today marks 5 years exactly since we started this examination of offshore brokers.
This task has been time-consuming, but I think it’s been worth it. And, the task continues.
Thanks again, guys. And I hope you will stay with us.
Clint
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Of course a big thank you to [B]you[/B]. Every single broker I have traded with outside of the United States was found via this thread. Thank you for this great resource and the wealth of information you provide.
Thanks, Tom.
But, it really has been a group effort.
You got that right no other resource like this.
Happy birthday! 
Great thread with great leader!
[B]Tom (tomd100), Babypipsrocks, Paul (Tallinex), and ForExchange —[/B]
Thanks for the kind words. And thanks especially for your contributions to this thread.
Anyone have experience with Tier1fx? It seems they accept US clients, but I can’t find any background on them. Appear to be based in Malta with server time GMT +2 (What is it about eastern Europe and Forex brokers)?