and if you are going to go ahead and establish residency offshore, then you may as well just go all the way and register a private foreign equity fund instead, then you can focus on get a few decent LP’s then you are all set.
The issue of being a U.S. person is independent of country of residency.
The U.S. taxes citizens on worldwide income.
hyperscalper
P.S. and while I am at it, may I say how awful the website upgrade is… I
have sent feedback (when I could find the feedback link) and I hate
the “infinite scrolling” and so… change is good but GRAY text on a
WHITE background is only the start of the issues; navigation for forum
topics is, it seems to me, just broken; as compared to the “old site"
for forums. Sorry for putting this complaint here.
[edit] The panel for entering this reply was literally JUMPING UP AND DOWN
in Forefox… After I entered the text, I hesitated to click the Reply icon since
’would I be generating a reply to my own reply? before I even entered
my own reply?” I asked myself ?? awful. What happened to “Submit”?
[end of edit]
2 Likes
Personally, I started my trading with Forex brokers not long ago. At the very beginning, it was a little scary as I didnt know whether I should trust these people and if it would really work. After checking all the information on [URL blocked] I stopped cherishing a hope and took a chance. Now Im sure that there work reliable and competent people. Thanks to the guys.
Check it out and share what you think
[quote=“4evermaat, post:4456, topic:35612, full:true”]
… As you can see as of 30 May 2017, CFTC is officially targeting Tallinex. That might have been one of the few offshore retail brokers worth considering (there are only a handful).[/quote]
Thanks for posting that link.
The CFTC has finally gotten around to announcing their attack on Tallinex —
I’ve been hoping that Christopher Giancarlo might bring the CFTC to heel, and stop their bullying of offshore brokers. But, I guess that hope was naive. It looks as if the only thing that’s changed at the CFTC is the name on the Chairman’s door.
In a sane world, Tallinex would just tell the CFTC to piss-off.
“CFTC Charges Estonian Company Tallinex with Fraud and Failure to Register as a Retail Foreign Exchange Dealer and Nevada Company General Trader Fulfillment with Failure to Register as an Introducing Broker”
I was saddened to get this announce, since I am also on the CFTC enforcement mailing list; but my question is really what is “fraudulent” about Tallinex’s or any other broker’s operation? Who is being misled? Just wondering…
hyperscalper
(couldn’t figure out how to quote, so I just cut 'n pasted and put some “” marks around it…)
Then I “replied” to my own “reply” and so it was submitted, under this new “regime” 
Hi,
I think I stumbled across a broker which will accept U.S. persons.
Apologies if this has already been covered previously…
GBE Brokers
As described in the below link,
using MT4 id 10008 and the server GBEbrokers-Live
which is easily looked up by server name, using "Open an Account"
and then “+ add new broker…” to select the server, in your MT4 platform…
(the 10007 account mentioned did not function for me)
https://gbebrokers.com/en/account/account-types/
We can observe the feed and spreads, which appear quite reasonable.
“Server location
The trading server of GBE brokers Ltd is located in Equinix LD4 data center, which is used by all leading banks, liquidity providers and prime brokers in the FX industry. GBE brokers Ltd works with a direct, cross cable high-fiber connections to all liquidity providers to easily offer our customers the lowest execution speed (latency), which is physically possible.”
taken from here:
https://gbebrokers.com/en/company/why-gbebrokers/
I do not have an account there, so can’t tell you about scalping latencies, or
any further details on this broker candidate. There was NO OBVIOUS
disclaimer concerning exclusion of any client based upon country;
that’s all I know right now.
[EDIT] I see Clint has GBE Brokers on the list which does not accept U.S.
clients, so apologies if this is still true…
[EDIT2] I chatted with their rep, who will check with their compliance department
about U.S. persons, and get back to me…
[EDIT final] further down is my post confirming they DO NOT ACCEPT U.S. Persons
at GBE Trading. Sorry.
hyperscalper
1 Like
Hi all,
I want to first begin by thanking Clint and Hyper for all the tremendous work and research they have put into this forum. I have saved hours, and it has been ever-so helpful!
I’m new here, but not totally to the FX world. I’m well into my 3rd year trading overall and almost a year into FX. I’m a resident of the U.S. and had been using TradersWay, with no issues, for the past 7+ months, until they just recently notified me (6/17) that they could no longer service my states’ (MO) residents in the U.S. This comes as a surprise to me, as I have stated, I haven’t had any issues with TW and the customer responsiveness was always on point.
As of this week, with some thorough browsing of this list, I’ve concluded to give FXChoice a try. Just awaiting the verification process now and should be good to go. Will update*
Pj
[quote=“HyperScalper, post:4462, topic:35612, full:true”]
[EDIT] I see Clint has GBE Brokers on the list which does not accept U.S.
clients, so apologies if this is still true…
[EDIT2] I chatted with their rep, who will check with their compliance department
about U.S. persons, and get back to me.[/quote]
@HyperScalper — GBE Brokers (Cyprus) is in the Alphabetical List (in post #4), but I did not indicate whether or not they accept U.S. clients, because I don’t know.
When you find out, please let us know.
[quote=“PjsTradez, post:4463, topic:35612, full:true”]
… I’m a resident of the U.S. and had been using TradersWay, with no issues, for the past 7+ months, until they just recently notified me (6/17) that they could no longer service my states’ (MO) residents in the U.S. This comes as a surprise to me … [/quote]
@PjsTradez — Hello, Pj
Welcome to the forum, and welcome to this thread.
The notice you received from Trader’s Way surprises me, as well.
To all of you: Has anyone else (currently trading with TW) received a similar notification?
1 Like
I am a California resident with a couple accounts at TW and did not receive any such notification. Just logged in, didn’t see anything on their dashboard, either.
1 Like
Also, let it be known that I spoke on the phone with a rep from TW customer service, a guy named Adam, and he said the issue pertained to Missouri for reasons unbeknownst to him.
He did, however, immediately recommend me to another broker by the name of ‘ForexTrading.pro’. He said they could transfer my account wholly upon my command, or I could withdrawal my money-- to which I chose to do. I don’t know anything about this ForexTradingPro except that they are locate in the St. Vincent and the Grenadines, and their website layout and trading methodology seem to be very similar to TW.
FTP must be relatively new, as I have seen nothing pertaining to them on this site at all.
Pj
just confirming
GBE Brokers does NOT accept U.S. persons per this reply to my query;
"Hi Brent,
you have recently been in chat with my colleague.
To answer your question: we do unfortunately not take US clients but all other clients are welcome.
Mit besten Grüssen / Kind regards,
Antje Wagner
Senior Institutional Sales Manager
"
hyperscalper
Dodd Frank repeal passed the House. Hoping there’s a light at the end of the tunnel that will open up more options for US residents.
2 Likes
I have a quick question for anyone familiar with funding a FXchoice account. Being from the states, they only allow 3 deposit methods: BTc, SWIFT, and epayments. I’m having trouble with the provided IBAN # being accepted by Band of America. I also tried a BTc deposit that worked, but the fees to send over like .50 cents was $3! Does anyone know if that fee is the same no matter the amount sent? Also, has anyone else experienced trouble when trying to use SWIFT with FXchoice? Thanks all.
Perry
Trust me, BTC is much easier and cheaper, I’m not sure where you’re trying to send from, but why are you trying to send 50 cents?
1 Like
The .50 cents was a trial run, since I’m fairly new to BTc. I wanted an example of the fees and the timing it would take to reach the account. I’m sending the coins to FXChoice via Coinbase. Thanks, Crypto for the feedback.!
Coinbase stopped paying the network transaction fee back on March 21st and passing it on to the user. You’re going to be paying much less then wire transfers and the timing is usually under an hour.
You can check you transaction confirmation status here: https://blockchain.info
Usually they will credit after three confirmations. You may have to send a message to finance support to update.
In my experience, Tradersway is the fasted to update your balance, followed by Finpro and then FXchoice.
2 Likes
Thank you, again. Yes I would love to still be using Tradersway, but they stopped offering services to my state. Thanks for the info about Coinbase not paying the trans fee anymore. One more question. Do you know if that network transaction fee is a set fee, or does it always vary depending on how much BTc you’re transferring? Thanks
Pj
It does vary on the amount you are sending
1 Like
If you’ve been trading with Tallinex from the States keep in mind that recently the US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the broker for illegally soliciting and accepting at least $1.5 million from US clients. Allegedly, the violations have been committed in the period September 2012 – September 2016 and the case will be heard by a district court in Utah.
I don’t know what effect that will have on their clients.