Active solicitation of U.S. persons is largely the way in which CFTC attempts
to attack these brokers; and it is a “survival issue” for them. Doing business with
a U.S. person who approaches the broker; not as a result of active solicitation
by the broker, is not illegal for brokers who do not have any U.S. entites as part
of their business. And having an offshore broker is absolutely not illegal for
U.S. persons. But… This is the “over-reach” by U.S. authorities and bullying
overseas, which is the basis of this entire forum thread…
The best approach is to use brokerages which are either “anonymous” and
do not require any nationality or residence information disclosure; or those
which have no U.S. based business entities, nor participate in any
U.S. influenced regulatory bodies. There are a few good choices here,
so watch this thread carefully.
What we are hoping for is that offshore brokers are “less intimidated” by
threats from CFTC and allied regulatory agencies; so that more of them
are able to clearly indicate that they are either U.S. friendly, or at least
nationality/residence “neutral” in accepting U.S. clients.
[EDIT] Primary means of restriction against offshore brokers is to cut off
their access to the “normal” funds transfer mechanisms; again through U.S.
bullying of the mainstream financial structure. Using Crypto currency
transfer mechanisms is increasingly the best means of moving funds
into and out of offshore brokerages, while maintaining “Fiat currency”
(e.g. Dollars or Euros) as the funding currencies in those brokers. Thus
by restricting the usage of Cryptos to "funds transfer purposes only"
we avoid exposure to Crypto:Fiat exchange rate volatility… Consider
Coinexx.com or for more traditional approaches TurnkeyForex or
FinProTrading as “hybrid” choices … I’m trying not to show favoritism
here…
[EDIT2] Specifically, TradersWay does offer this “hybrid” approach where
Crypto (BitCoin) transfers to/from accounts funded in USD should be
the preferred approach. Use a service like Coinbase.com to send/receive
BTC and to convert/transfer to/from your Bank account in USD or other
"Fiat" (aka “real money”) currencies. Just a suggestion; “your mileage
may vary”… Good Luck !!
[EDIT3] To my knowledge, currently, only Coinexx.com offers the choice
of Crypto funding AND/OR ordinary USD funds denomination of their Forex accounts…
Perhaps Crypto currency denominated accounts are not desirable, due to
the risk of Crypto:Fiat volatility anyway… So by this measure, several
brokers with Fiat account denomination, also permit Crypto-based funds
transfer; thus providing what I consider the best environment for funds
transfer, while maintaining “Fiat” or national currency stability…
I am hoping more brokerages follow in this choice of funding currency
while maintaining a largely “anonymous” or at least a
"neutral" approach to client national identity…
hyperscalper