Going offshore to escape the CFTC

Yes the AMLD5 is all bad news, its been the source of misery for me because my primary crypto exchange is almost certainly going to go full kyc 2020 jan1

the FATF laws for 2020 June are still hyper totalitarian as well and when i warn redditors about it they go full potato. The average crypto investor doesn’t understand any of the regulatory stuff we talk about. ANY.

The feds are moving towards another black friday poker crackdown on crypto. The ability to do everything offshore is in the absolute crosshairs of the FATF. They know and understand what crypto is for offshore finances, and you can absolutely guarentee yourself they are planning on trying to persecute non custodial wallet providers and developers with backdoors.

They have a plan to use smart contracts backdoored by the finance industry and state to create a virtual geofence closed garden system for tracking bitcoin and any non fungible currency mercillessly. Your bitcoin will be tagged and tracked and trapped.

The only way to avoid all this is monero. That’s it. IT’s the only safe coin. And the only way to wash btc. BTC has to be washed with monero to break the chain history. It’s the only full way. I’m sure the defense department is pouring millions into cracking monero cryptography. And it certainly isn’t because of criminals, it’s because of capital flight and tax evasion.


Careful tho as Monero is under scrutiny for its privacy feature.

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Sigh. Of course it is.

People need to wake up. It used to be that you could barter for anything. No government involvement or regulatory enforcement. Quid pro quo. Now, anything that holds value is controlled and taxed, regardless of whether or not our government has anything to do with it or not. If people in this country started using jars of Russian dirt as currency, our government would figure out a way to control and tax it. With cryptocurrency, it is even worse, because it goes against the very autonomous nature of what bitcoin stands for, while going beyond control and taxation to completely destroying the anonymity and privacy that cryptocurrency was supposed to offer.

Requiring background checks does not stop criminals from procuring guns, just like requiring KYC will not stop criminals from using cryptocurrency.



Well, I’m setting up a Monero node. Downloading the blockchain
takes a couple of days, and then I’m still fiddling the configuration
to join the Monero network; but it’s a start !!

Each node can choose to join a Peer to Peer P2P network, in
a similar way to Bit Torrent where multiple nodes contribute to
the overall functioning of the network. Just FYI. :slight_smile:

[EDIT] I’d hasten to add that attempts to mine Monero
require specialized equipment, so I won’t be doing mining.
Apparently hardware to mine Monero is not nearly as
pricey as for BitCoin, but Crypto mining remains a mystery to me.

[EDIT2] I did check Coinexx and apparently they can pay out
in Monero, unless I’m mistaken there… :slight_smile:


Won’t that be the same for all crypto though?

Well it looks like governments have their sights set on coins that have privacy/anon features for now. Others they can monitor blockchain traffic. Remember that’s how they brought down Ross Ulbricht by tracking public blockchain transactions that led back to him.


Thanks for reply

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Thieves took $49 million in Ethereum from a crypto exchange



This is a great thread, thanks for taking the time to construct it and keep it up to date for so long. Sooooo many brokers out there!! I’ve only tried a few so far, just IC Markets, Etoro and Eagle FX.
I’ve been happy with them all, but I found Etoro to be too expensive… 25 bucks just to withdraw my own money…! They do have a nice platform though which is good for beginners.

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Well, if you have access to IC Markets and Etoro, then you are not a U.S. resident, which means that you have a distinct advantage over those of us who are U.S. residents — your business is welcome at many brokers around the world that we Americans cannot access.

So, by all means, consider the 12 brokers on our List. All of them will gladly do business with you. But also, consider the wider universe of first-rate offshore brokers that are prohibited from dealing with U.S. residents, and therefore are not on our List.

By the way, welcome to this forum :grinning:



I note that our definition of a “broker” for this thread is a “forex broker”.

But I’d like to propose we consider options which have Forex as
an underlying. While I am not going to recommend Nadex as such
a broker, I’d like to propose we reommend CloseOption as a very
useful adjunct to Forex trading, and one which is openly U.S.
friendly, including open KYC for U.S. persons. (I don’t get
compensated for this recommendation.)

In my view, the Forex trader should have an Options platform
available for 1) Risk Management, and 2) Scalping Precision.

Risk Management defines the maximum Loss and maximum Gain
possible in a trade. This follows as a property of a “binary” option.
Scalping Precision is also property of Binary
Options, that only a small price move in the desired direction yields
a fixed outcome. But the trader cannot lose more than the
amount chosen by the trader.

[EDIT] Another interesting feature is that this Binary Option
platform has no Bid/Ask Pricing Spread and so a high level of
precision is possible.

CloseOption provides these features in a fair and trustworthy
execution environment, and it is openly available to U.S. persons.
I’ve extensively tested the precision and fairness of the outcomes,
and have never seen an outcome which I would dispute.

Options extend to a maximum expiration duration of 1 month,
with many intermediate fixed expiration durations, adequate
for both day traders and long term traders.

I would caution, however, that while these platforms do support
extremely short durations; that NO TRADER should use these
unreasonably short time periods, as this would be gambling in the
absence of micro scalping predictive indicators.

DON’T BE TEMPTED TO DO THIS However, durations such
as 1 hour or longer, are perfectly reasonable timeframes over which
to make predictions.

I guess this recommendation won’t fit into our trusted brokers
list category, and the availability of Binary Options is both limited, but more
often identified as a scam business, and many Binary Options
are indeed scams. I’m saying that CloseOption does not suffer
from these criticisms, so it is a legitimate tool for Forex traders.

I’ve tested the outcomes with an intense level of precision, and this
Binary Options platform never cheats the trader by giving a false
outcome. That, in itself, is a remarkable achievement. :slight_smile:


The CFTC has just announced the addition of LQDFX to their “RED List” (Registration Deficient List).

This brings to three the number of brokers on our List which have earned this special designation from the U.S. Nanny State.

Here are the three, together with the dates on which they were listed:

  • Trader’s Way - added 8/21/15

  • FX Choice - added 8/21/15

  • LQDFX - added 12/4/19

Here is the CFTC webpage that describes the RED List, and lists the nearly-150 entities labeled by the CFTC as “registration deficient” —


If you read the text on that page, you will see that this RED List is not a threat to the brokers listed.
Basically, it’s a list of brokers (and other entities) which the CFTC is not able to prosecute —
— but wishes they could.

Some might even consider it a badge of honor to be included on the CFTC’s RED List.

Maybe we should design a badge, and award it to our three special brokers.


first time i read the text on that page and base on their statement U.S. Residents can trade with offshore brokers they just wanted to let you know the brokers are not register with them but the final decision to trade with said broker is up to you

" The goal of this list is to provide information to U.S. consumers about foreign entities that are acting in an unregistered capacity and to help them make more informed decisions about whether to trade with or through such an entity. The more that U.S. consumers trade with and through registered entities, the more likely that their funds will have a greater chance of being protected. "

EDIT: so why are other offshore brokers scared to take U.S. Residents?


BlockChain has a crypto exchange call the pit

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Hey, what a freaking surprise. Due to local laws, the pit cannot operate in my area. This country is so ridiculous when it comes to regulation, I cannot take much more.


Residents of the following US states are permitted to deposit/withdraw USD and trade all pairs.

New Hampshire
Rhode Island
South Carolina

EDIT: i guess i won’t be using them im in ohio

From what I can tell, it looks to be more of an exchange and not a platform for traders, as they do not offer any leveraged trading. Not to say that you cannot trade, technically. I could be mistaken, as I only briefly skimmed the site. If that is the case, though, there are plenty of options for exchanging crypto pairs that do not have such geographical restrictions.

Just off the top of my head, there are anonymous exchanges that do not require any sort of registration, where you can freely exchange various cryptocurrencies, regardless of your IP address. There is a free desktop wallet called exodus that allows you to exchange over 70 different assets from within the wallet, right on your desktop, without even having to deal with any registration/KYC or exchange nonsense. I have been using Exodus for years. I’m sure there are many more.

In any case, any exchange that actually does offer any sort of leveraged trading to US residents will always (or eventually) be subject to the overwhelming costs and hassles associated with regulatory compliance, or, they will outright drop US residents to avoid such nonsense. At least, this has been what I have observed so far. The only exceptions to this are exchanges that operate using a soft-block, where a simple VPN will allow you to circumvent any automatic detection, and sometimes, such checks are only made during the sign-up process, allowing you to trade without any VPN going forward.


I wish FX choice had a system like volume based trading in a 30 month period that discounted the spread for btc. The spread on btc on there is like 40 dollars. Going into the future trading btc on metatrader brokers is becoming more and more appealing given the lackluster situation on native crypto exchanges.
Kraken has really high fees, but if you have roughly 20 million volume in a month, which is not neccesarily alot, it can be achieved by trading a 5x position of roughly 8 grand about a dozen trades a day for a month. That gets the fees down to normal spread levels in the cfd industry. (tho kraken is a margin, non derivative, physical bitcoin exchange) well part of it is, and they don’t allow us resident to use the derivative section.


(seen on Reddit)

"IRS wants to know about your crypto activities.

In a few short weeks, Americans will begin filing their taxes for the 2019 income year. When they use Schedule 1 for the 1040 filing, they will have to answer “yes” or “no” to the following question.

“At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

You must answer or they will kick the form back to you until you do.

The question and your resulting answer has all sorts of short term and long term implications. If you answer “yes”, does it raise your chance of being audited? If you are audited, what are you going to use for receipts?

If you answer “no”, how you going to explain where the crypto came from if you ever use it to buy something? Answer “no” when you should be answering “yes” is fraud with no statute of limitations. The list of bad scenarios goes on and on.

And so the final war against crypto commences."


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for receipts you will use your transaction history from your crypto exchange like coinbase, but that expose you of having an account with that exchange, not looking good

soon when you withdraw cash / ach from coinbase that will link you to crypto trading

EDIT: well guys if you don’t hear from me no more it’s been nice knowing you :airplane: