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Yes, you can say a friend of yours has referred you or that you read about them in the following article which I just found on the Reuters website: Institutional FX Brokerage House Investors Europe Ventures into the Retail Market | Reuters
I think based off this fx spread (gather-er, collecter-er) website, that ACT brokers based in the good old USA have the best spreads, even after you calculate commissions.
FX Intelligence Analyzer: Compare live spreads and quotes from multiple brokers
If your trading style is spread dependent its a good tool when searching for brokers, in my opinion.
Seems like Investors Europe is as I understand it, a collector of shell companies. In a funny, humorous way, I imagine
a guy sitting at a desk with a big ole’ file cabinet behind him, with each yellow folder having a company in the binder, and the guy is stamping each company “Reliable! Fresh! New! Stable! Solid! We Good!”.
Some one calls the company, and the guy checks his list of companies and says “Yes! I am a representative of that company here, and I can vouch for them. I even have power of attorney, or as the american’s call it, ‘The Funds Withdrawl Method’.”
Joking of course. Reminds me of Isle Of Man.
Rredhunter
As I’ve mentioned earlier, one doesn’t need a foreign shell company to trade with Investors Europe. A signed non-solicitation disclaimer is all it takes for a US individual customer to open a trading account with them.
Only if it were that easy…
[U]NewsFlash[/U]
7 Lawsuits filed by the CFTC against offshore dealers for violations of the Dodd Frank act.
Injunctions filed and until relief wire fraud issues being evaluated and accounts frozen.
All reciprocating banks involved in wire transactions with prohibited transactions/counter-parties being investigated.
International treaties and regulatory reciprocating agreements could be at stake…
This is just a fictional post, but a scenario that could unfold…Soo…what happens to your money?
ES
Actually, this already happened last year: </title> <meta content=“MSHTML 6.00.6000.16981” name=“GENERATOR” /> <script id=“ssInfo” type=“text/xml” warning=“DO NOT MODIFY!”> <ssinfo > <fragmentinstance id=“fragment1” fragmentid=“web_header” library=“server:NAVIGATIONFRAGMENTS”> </fragmentinsta
As you see, the US CFTC has only been able to go after firms with some business presence (telephone lines, servers, IBs etc) on the US soil.
I am aware that this has already happened…as a matter of fact Insta-Forex froze all of the accounts from the USA as an excuse to hold on to money…
Ask absolute poker what just happened to them…Where are the players money now…??
Do you guys really want to take this chance? I guess it is all true…Retail Spot Forex Traders are really just $200.00 gamblers…hehe…they will pay 35 buck wire fee’s to just get their fix…Surley they would not wire substantial amounts under the current state of affairs…would they? Put in all on red what the heck…lol
ES
P.S. Traders please be careful and I wish you the best…really…but let go…just let go…trade something else if you just need to trade…You got to know when to fold-em’ walk away while you are still lucky…the writing is on the wall…
P.P.S. Let’s say you find the dealer that is willing to skirt the law with you…someday you can look forward to the future wrath of the USA…and then what happens to your money? do the owners of the postbox in Mauritius or Gibralter or the caymans… abscound with your money or do they do the right thing and mail you an international money order (the only instrument left). If you have a susbstantial amount of money there is really not an untrackable way for them to tranfer it to you…but I guess you all know you will lose at Forex anyways…so what the heck…play 7’s…
InstaForex has been a known scam for long, so they sure deserved to be busted. Plus, they were dumb enough to have an IB and a server in the US, for which they precisely got sued by the US CFTC and which Investors Europe does not have.
Yes, I do aim at making a list of offshore brokers where I can open small accounts without forming a foreign corporate entity. For large amounts, I would form a company, just like for any other large business.
bravehoststamps…
Just let go…in a few days Forex will be distant to you…Turn off the candlesticks that you love so much…
There are help groups for you, if you feel you need them…
God bless you and may you escape from this trap that you are in without too much pain.
The fact that you cannot let go and take a break should get your attention…you do not NEED to trade …I hope.
ES
P.S. Even if I am wrong (I am not)…take a break…it can’t hurt you.
Very interesting reading.
Has a list of brokers been put together that, to the best of our knowledge, have no business presence in the US?
I’m new to the forex trading arena and this CFTC bullying has got me a bit worried that I won’t have the control I thought I would enjoy when I finally go live.
You still have the US brokers like MBTrading or Oanda as your options if the 1:50 leverage limit if not a problem for you. Both are registered with the US CFTC and fully regulated by the US government.
With MBTrading, Oanda, Investors Europe, and FinFX being available to me, I have no problem whatsoever. All of them perfectly meet my trading needs.
It’s funny back in the 80’s and 90’s a neighbor and a dear friend of mine bought two mansions in Beverly Hills and owned two Rolls Royces and had lots of numbers that had zero’s in the bank…He had full time help in both estates and was quite the businessman.
Anyways…
He sold tax shelters and when the tax laws changed his business ended by the end of that year…just like that.
Funny thing he had never been audited before…but after the change mysteriously there were audits every year and other mysterious harrassments that I cannot mention as I do not know of them all…lets just say…there were some interesting scenarios…
Anyways…
Lets say you guys are like me and do the right thing and declare your profits to the IRS and arrange your books to be legal…after all that is why this CFTC thing has come to pass with the Dodd-Frank act…it is because the offshore firms do not report to the IRS and you cannot be audited as they do not cooperate…Anyways…do you want to be audited…hey…other things can happen with the US Atty General…or maybe the local police get a bug up there ass…You know journalists would love your story… do you really really want to go there?..
Welcome to Socialist ObamaStatesofAmerica…hey have you heard the latest breach of the constitution?..there is talk of just giving the decision to raise our debt ceiling to Obama the man…all by himself…forget the constitution…
Things are happening in the USA right before our eyes…We have are own brand of egalitarianism/socialism/communism.
Never think that these regulations cannot affect you just because of some piece of paper an offshore dealer has you sign…If you guys are so naive to walk into the face of disaster then you deserve to lose your 200 bucks…or whatever you gamble with…I hope it is not more…
ES
Most of us don’t have two mansions in Beverly Hills and two Rolls Royces. Moreover, the CFTC is mandated to audit and regulate only financial institutions and not their clients.
As for the USSA (the United Soviet States of America), there’s still one thing our Russian rivals didn’t have in the 80’s - free elections.
free elections…
anything can change.
The illusion of freedom…haha…Welcome to the USA…
The system broke…get ready for change when the worldwide depression begins…you aint seen nuthin’ yet…there is no way that every American can cough up 42K to pay off the debt…when the USA drops its final card and does not pay the treasuriy bonds and is forced to halve the SS# for our elderly…well Russia’s starvation will look like a cake walk…
People pull your head out of your ass and wake up and smell the roses…pleeeese.
Your not going to make a dime in Retail Spot Forex…and if you are talented enough to make that dime try to cash in…
ES
free elections…ohhh…too funny…
how bout’ term limits…the people that decide matters in our country will never allow that…you get what we have now…
This President however wants to be more than a figure head…he has a vision…
do you think obama and his zars will quit when they are out…too funny…
ES
I was able to make my dime in retail spot Forex both before the new CFTC regulations were introduced and after. Sure, more crap is coming on July 16, but nothing as dramatic as you envision. Yes, they might even go as far as banning retail spot metals trading: Gold and Silver Trading To Be Illegal Starting July 15, 2011 | ForexLive . Yet retail currency trading is too big of an industry for them to shut it down. If there’s no free currency market, their only subsequent option is introducing the American Rouble and sending everyone to work unpaid at collective farms to repay America’s foreign debt. 
anyways…i got all my money out of Hot Forex…they deposited it to my credit card…amazing that it still works…they did not even charge me a fee!!!
I am completley legal at the time of this post and it feels good…I still have my Oanda accounts but I will not be trading spot forex in the foreseeable future…
ES
[B]Most of us don’t have two mansions in Beverly Hills and two Rolls Royces. [/B]
Just make a few hundred thousand offshore and see what happens…on second thought don’t. Try posting…I made 200k on my 200 dollar investment in Forex publically…see what happens…maybe not…just kidding …actully in todays new era it is bad for you to make money…so shut up…
Hey the guy that gave the baseball back to the hitter was made an example of the other day…
Obama’s new weapon…THE IRS!!! (Obama discontinued the program to allow third-party collections agencies to contractually collect tax leins last year…why do you think he got rid of that program?).
Be careful traders…I really do not know how to advise you…do you declare the profits from your offshore accounts to the IRS or not? either way you may be screwed…
ES
Clearly, most retail US traders report their overseas income to the IRS. Some might not, but definitely not the majority. Yet I haven’t heard of a single retail US trader being busted for having an overseas trading account.
Yep…not yet…
Ask those that had those UBS accounts what happened to them last year…
Heres the deal…UBS contacted you and said they were closing your account and wanted the address where to send the CHECK to. YOU COULD NOT GO IN PERSON AND GET THE CASH…THEY SAID NO. bESIDES HOW COULD YOU CLEAR CUSTOMS WITH MORE THAN 2K OR 8K OR 10k ACCORDING TO WHICH COUNTRY…
LOL…you could not cash the check as the IRS then knew you had an offshore account…
So what do you do …tear up the check or cash it and face the music?
ES