Thanks 
So this presents a business opportunity. I can offer proxy account services for poor Americans hamstrung by their bankster State Department. 
Their site is blocking Americans. Works everywhere else. I think it would be unpleasant to find yourself cut off from your broker and, by extension, your money. :eek:
[B]1.[/B] I have received the following PM from fxfrench, the official representative of FXOpen, here on the forum:
As requested, FXOpen has been moved to the ānoā list.
[B]2.[/B] [QUOTE=Rex Tradewell,post:536,topic:35612"]
You can take Kinetic Securities (Australia) off the list. I spoke with them todayā¦
[/quote]
Rex, Iām not ignoring your post. Iām waiting for confirmation from Kinetic Securities.
[B]3.[/B] Once again, I will move the entire 3-page list to the end of this thread, so that it is easier to find.
This is not only sad but disgraceful. The CFTC can kiss my can - Iām fortunate enough to have European relatives. I foresee a new shadow industry developing where non-Americans offer themselves as proxies to Americans who wish to avoid the clutches of this joke of a regulatory body.
Hi T4L,
I would say this is highly unlikely especially in light of recent events by the CFTC. I know traders feel very strongly about this subject on both sides of the argument, but the regulations are intended to provide financial standards and business oversight in order to protect traders from fraud and hurtful business practices. If you watch the NFA and CFTCās website on a weekly basis, youāll notice the frequent cases brought against traders for running ponzi schemes and some brokers for their business practices. While the regulations are limiting to traders in terms of leverage available, we believe 50:1 is a much better situation than the originally proposed 10:1, and one in which the majority of traders can live with in order to have a legitimate, safe, and transparent trading environment.
I mentioned in the FXCM broker aid section back in October of 2010 that our understanding from the CFTC was that they intended to enforce the new regulation to their fullest extent regardless of whether the broker were located in the US or internationally. Of course, only time will tell what may happen, and we are watching the events unfold just like everyone else.
-Jason
Thank you for the kind reply, Jason, and thank you for generally excellent service from FXCM. I can understand your hesitancy to do what I suggested. I wrote that post before this lawsuit news broke. The fact is, though, Iām not that convinced that 50:1 will be the last reduction in margin rights that the CFTC imposes. I think in the near future thereās a good possibility we could see it be cut again to 25:1 and eventually down to the originally proposed 10:1. If thatās what these dictatorial bureaucrats originally wanted, my assumption is thatās what they could eventually impose. Iām not saying itās guaranteed, but I definitely wouldnāt rule it out.
I also want to point out that just because a government agency flexes its legal muscle doesnāt mean said agency is doing the right thing or that its actions are necessary legal. Our rights as American citizens are being seriously impaired in this area, and it seems like no other country is limiting its citizens like the feds are doing to us. Weāre supposed to be the land of the free - the bastion of liberty. But youāre apparently freer in many other countries now than we Americans are, at least by this narrow measurement of freedom, and that fact is not sitting well with many of us. (Keep in mind that I donāt mean to suggest the ability to have 100:1 or higher margin rights is the most important aspect of freedom in life - itās not - but the fact that weāre being limited like this when other 1st world countries donāt see a need to place such restrictions on their citizens is very distressing.)
Anyway, Iām really hoping that the brokers targeted fight back vigorously in court, although Iām not optimistic they will. If they donāt fight we may never find out if these regulations are constitutional. I donāt think they are. Iāve seen many overly broad federal regulations on the private sector struck down in the past. I just wish I were independently wealthy right now because Iād make a legal test case out of it.
And as for the retail forex ponzi schemes that some criminals have been caught running, Iāve only seen a few isolated cases reported - perhaps thereās a higher incidence of it reported than I know, but it seems like a very small issue and one that certainly isnāt confined to forex.
I donāt know if youāre traveled, Jason. But not everyone is excited about bankster-driven initiatives. You poorly hide your superiorās nefarious agenda. Only a congenital idiot could view diminished trading options as liberating. In Iceland and Ireland thereās open revolt. And the expansion of US corporfascism is viewed with suspicion and with an eye toward containment. Russia, for one, is revamping the nuclear missile stockpile. The arrogance of the CFTC and US State Department exemplifies why Russia thinks itās a good $trillion investment for the future. Just the facts.
I think the CFTCās little operation as of lately to put more restrictions on Forex Trading etcā¦ is probably code named [B]āOperation Anacondaā [/B]slowly squeezing our freedoms out from us.
Since this news article has been released
google "CFTC sues 14 foreign currency firms in major sweep"
since iām not able to post a link yet since iām new.
Several brokers now do not allow new u.s accounts or has seized current u.s accounts. Iāve looked at the list that was updated on Jan 27th that allowed new u.s customers and I picked a few and tried to open up an account but
the few I picked donāt allow new u.s accounts.
[B]
InstaForex from Russia & ForexRobo from New Zealand no longer accept u.s accounts.[/B]
there is probably more that need to be rechecked now, this list is shrinking.
Anyone have good experiences with any of the companies on the list?
yep instaforex no longer excepts usa.**** this mother ****ing regime america is no longer free
Just like this current administration got its biggest legislative achievement smacked down as unconstitutional by a federal court and soon the SCOTUS, I believe that these restrictions on our right to hold accounts with foreign forex brokers would similarly be found unconstitutional if someone fights for our rights in court. It has to be unconstitutional. Thereās no law prohibiting US citizens from owning accounts based in foreign countries in general, so thereās no legal justification that I can see for treating forex accounts differently. Weāre being bullied because the little tyrant regulators at the CFTC know that retail forex traders are generally small fish without money to burn on high priced lawyers to fight them. They wouldnāt pull this kind of stunt against deep pocket constituencies.
Well you can take the following of the latest list that was posted on the 27th of Jan.
InstaForex
RoboForex
NordFX
Forex4You
ā¦ and I havenāt went through the whole list yetā¦
itās interesting I was talking to Forex4You they didnāt have a presence in the U.S but they stopped accepting U.S customers because they want to play it safe.
The U.S must be dishing out some threats or somethingā¦
all of these just within the last few days stopped accepting u.s accounts ever since the CFTC started Suing a bunch of brokers on Jan 27th 2011
The list is shrinkingā¦
Pressing Forward!
We just need to find us a great attorney, and see what our options are to challenge this. We should try and do something similar to a class action lawsuit. This needs to be nipped in the butt before itās too late. We need to organize and built a community around this cause and get people participating.
The Government definitely has ulterior motives itās obvious across the board. There is a push for a one world currency, along with other ulterior motives.
We can challenge this, and to start this can be very easily doneā¦We need to find some people who would be willing to donate a small amount for us to get a website up so we can organize rally supporters for this specific cause of the irrational regulations the Gov has been imposing on the Forex Industry. I am willing to make headway on this if we can get some people to support this. Initially we do not need that many people to raise a small amount of funds to have a website up.
Then once organized we can make some headway on this and raise some serious funds for some legal support. There is a lot of traders on the same page with us, and it would be easy to gain lots of support and raise some funding for this cause. I think we could even get some support from our international buddies as well, and we possibly could get some sponsors from various brokers.
let me know if youād like to participate, please feel free to share any thoughts or suggestions on this. I will contact my buddy who is a web designer.
Sincerely
- Nick
Has anyone from the U.S done any business with any of the following
United world Capital
IKOFX
IntelFX
Any feedback would be great.
Iām curios about intelfx they are from New Zealand and offshore list on this forum it says that they are not regulated. Is that bad or risky thingā¦?
Hi,
I havenāt read the entirety of this post, but I read a lot and am curious to know if anyone from the US has gone so far as to figure out how to open an offshore acct with one of the brokers who donāt accept US citizens, while being a us citizen. What are the steps to getting an account with say FXCM UK? Is it a matter of becoming an IBC and your done?
thx
shaun
Shaunieok,
The process to setting up an account with an offshore broker is similar to the process you would go through setting up an account with a U.S Broker.
Though offshore brokers may require some additional paper work. Generally
an ID of sort like drivers license or passport, and like a utility bill and a scanned copy front and back of your credit card. Though I would do some thorough research and read through this forum before attempting to go with just any offshore broker. Also you can chat with most brokers on their website and ask them questions, so I might chat with them first.
Iāve created a BabyPips Group titled āJoin the Battle Against the CFTCā
We are organizing a Group to Challenge the CFTC. Invite your friends lets get the word out.
We will be taking legal action but will need to hear from you. There is Power in numbers!
Join the Battle Against the CFTC! - BabyPips.com Forex Forum
I already have an offshore broker. I was just wondering how to to do it once they all get banned from servicing US citizens.
Thought someone might have the experience of setting up an IBC and then the steps involved to actually get an account with the likes of FXCM or ?
thx
shaun
The Commodity Futures Trading Commission has morphed into
The Commodity Futures Trading Gestapo.
This is not an isolated situation. Rather, it is part of a much larger crisis threatening every citizen of the United States of America: this nation is now being run by an outlaw regime. And we are in serious danger, and will remain so, until we cut the head off this snake.
Many of the posts on this thread have asked the question: Where is the legal authority for the CFTG to go after foreign brokers, located on foreign soil, domiciled in foreign countries, and regulated by foreign government regulatory agencies?
That question misses the point, entirely. This regime in Washington, and all its minions ā including the CFTG ā believe themselves to be above the law. Laws do not apply to them, or so they believe; rather, laws are MADE by them and applied to the rest of us.
When we talk about the Regime in Washington, we obviously refer to Obama, his cabinet, his departments, his czars, and his government-controlled ānewsā media. But, there is a larger āregimeā, consisting of the entire Socialist Democrat cabal which controls the U.S. Senate and much of the federal judiciary, and still has mischief-making power in the House of Representatives.
The Commodity Futures Trading Gestapo, and its little Reichsfuehrer Gensler, answer to this larger regime. Gensler and the CFTG answer to Congress, and their current lawless behavior is precisely the behavior their handlers in Congress want.
So, our battle against the arrogant and lawless abuse of power by the CFTG is really a much larger fight against the totalitarian regime they serve. We can win this fight ā eventually ā at the ballot-box.
But, Iām concerned that the proposals currently making the rounds on this forum and elsewhere, to use websites and contributions to launch the equivalent of a class-action-lawsuit against the CFTG, could have us tilting at windmills, as it were.
I love the story of David and Goliath, just as much as the next guy; but, that story is so wonderful precisely because it is so improbable, so rare, so seemingly impossible. I think we might devote a lot of our time and money to a losing cause, if we cast ourselves in the role of David and go up against the CFTG Goliath.
Suppose we actually were to win a court battle against the CFTG. Suppose the CFTGās attempted prosecution of foreign brokers were ruled unconstitutional. Do you think the CFTG, or their handlers in Congress, or the Regime in the White House, would back down and comply with the courts?
I donāt know how to say it any more strongly: These people donāt give a damn about the Constitution. Consider just two recent examples of how the Regime defies the Constitution and the courts.
After the BP oil spill in the Gulf of Mexico, the Regime placed a drilling moratorium on all U.S. companies in the Gulf. This moratorium has been ruled unconstitutional by a federal judge. The Regime has totally ignored the ruling, and continues to threaten any U.S. company which dares to resume drilling in the Gulf. The Regime is in contempt of court, and this contempt comes directly from the top ā from the head of the snake.
More recently, a federal judge has ruled that Obama-Care ā the entire 2,000-page law ā is unconstitutional. The Regime has thumbed its nose at the court and its ruling, and is now clearly in contempt of court. Contempt that comes directly from the head of the snake.
I would love to be proven wrong on the question of a class-action-lawsuit. Iām not a lawyer, so my opinion regarding the merits of such a case is not worth much.
Do we ā as customers, or prospective customers, or former customers, of the offshore brokers now under fire from the CFTG ā have standing to bring such a suit?
Should we wait for one or more of the offshore brokers affected to mount a defense against the CFTG, and then endeavor to join the suit as a āfriend of the courtā?
Before we fund a bank account, put up a website, and launch a campaign, maybe we should try to get some preliminary opinions on how to proceed from lawyers who know what theyāre talking about.
If there are any constitutional lawyers out there willing to weigh in on this question, we would love to hear from you.
Has anyone written their congressman about these things. We all should.
Clint, perhaps if you could craft the form letter we could all use to send to our representitives I for one will send it to both.