In that case, forget about offshore brokers, for now.
Learning how to trade forex, and learning how to become consistently profitable doing it, are difficult enough challenges without adding in the extra complexities that go along with dealing offshore.
Instead, do this:
Pick a CFTC-registered U.S. broker.
Open a demo account with that broker, and use it to learn the mechanics of trading – reading charts, placing trades, etc…
After you have mastered demo trading, open a very small live account, and teach yourself to trade tiny positions to consistently make tiny (real money) profits.
Then, if you are convinced that you have proven to yourself that you have the talent to continue trading profitably over the long term, gradually increase your position sizes, in order to increase your profits.
Finally, after a year or two of successfully trading with your U.S. broker, take a look at the opportunities for better trading conditions offshore — if that still interests you.
Here’s what I got from a close reading of the article you linked to.
The author says that U.S. regulations prohibit unregistered/unregulated brokers from accepting U.S. residents as clients — and that statement is correct. The CFTC and the NFA regulate brokers.
And the author avoids saying that U.S. regulations prohibit U.S. residents from opening accounts with unregistered/unregulated forex brokers — because saying that would be totally incorrect. The CFTC and the NFA do not regulate the clients of brokers.
Then, the author of your article goes on to say, in effect:
- If you are a U.S. resident, and you want to trade with an unregistered and unregulated offshore forex broker, here are the brokers I recommend.
And he recommends two offshore brokers which are not registered with the CFTC. Is he recommending that you break some law? No.
The article you linked to is dancing around the issue, instead of stating it clearly.
Here is a clear statement:
The CFTC can prohibit unregistered and unregulated brokers – whether domestic or offshore – from soliciting U.S. residents, and from opening accounts for U.S. residents.
But, the CFTC has no authority over U.S. residents who seek out, and use, offshore brokers.
Welcome to this forum, by the way.