you will be ok trading with these brokers
coinexx
lqdfx
tradersway
eaglefx
cryptorocket
fxchoice
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Hey, some of the most innovative businesses are started in parentsā basement.
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LQDFX looks the most interestingā¦ Many of the others want you to use BitCoin to fund. that sounds scary to meā¦ LQDFX told me I can fund using Vload and then withdraw using money wireā¦ For small amounts other options might be okā¦ but for larger amounts, I like the money wire withdraw idea.
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Any of these your favorite?
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Before you look at setting up offshore company. You need to know how to deal with CFC / FATCA. If you do not know what that is google IRS CFC and IRS FATCA then you will quickly decided offshore company is not what you want to do. FATCA tax filling is 100K to start each year!
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Just go with Forexchief, very stable and youāll love the server speed. Leverage is 1:500 for currency pairs and 1:100 for commodities. Iāve not had any issues with scalping or news trading. Also, take your time to read TOS.
they are on my most trusted broker list base on my personal experience 
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Thatās really not the case at all. Sure you will incur some slippage within times of transfer/conversion. But it wont wipe out your profits.
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I just read about CFCā¦ Im not sure what the problem isā¦ I dont care if they report to the IRS, not trying to avoid taxesā¦ Just get better margins and no FIFO
Contacted ForexChief, they wont allow USA clients.
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GILT tax will cost you a lot to figure out! That is part of FATCA filing. You get over 75K during tax year for Company or Individual having offshore assets itās 100% fine for all income if you are not 100% complete on FATCA filing and just that filing by some company that has insurance to protect you if the filing for FATCA is wrong. If you simi miss a little then its 50% fine for total income. Married itās 150K total offshore assets. Talk with CPA and understand what you are getting into before doing IBC offshore if you are here in USA or having assets offshore. FBAR is no problem that is 10K and simple form to do. Do it in less than 1 min every year. Problem is FATCA Filing for USA.
ForexChief is not on my list, i donāt recommend them
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Are you speaking about Forex trading in General OffShore, like trading with LQDFX? or opending an entity off shore? Or both? After talking to LQDFX yesterday, and the fact that you can withdraw a different way than deposit (Wire transfer withdraw) im thinking just having an account with them will be fine. VS, creating an entity or trust offshoreā¦
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You really need to talk with a CPA that has insurance because you are fixing to make big problems for yourself. You do not understand what you are dealing with!
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I guess Im thinking to myself, If i send a broker 10k to trade, is that broker in belize or wherever going to send something to the IRS? I mean, 10k is pretty small potatoesā¦ Do they really care if I simply report any profit? I can see your point if we were talking huge moneyā¦ but Im pretty small.
Nothing goes to IRSā¦ US Treasury has all countries report everyone who has accounts. They turn that over to IRS and they match names and numbers with people and wait for you to report on IRS forms. If you do not report what they know about then you start having issues. If the amounts get large enough where they can get big payoff from you then they will come after you!!!
Its all on you to report. Nothing from OUT SIDE USA will report on you. FXChoice / Coinexx / EagleFX / etc they could give two shits about the USA. They will not tell them anything! But the bank that holds their money will tell the USA everything.
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Ok, but thats if I have a bank account over thereā¦ FxChoices bank doesnt know about me, because Im simple part of a pool of moneyā¦ Am I right? Where Im trying to understand, is there a risk in simply having a FXChoice account? Or are you talkiing about an offshore company and bank account? Or both? I dont see huge risk in a FXChoice account, (Unless FXChoice steels my money) I see the real risk in having some sort of company overseas with an attached bank account etcā¦
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FXChoice has segregated account that means the bank they use has your INFO. ID etc they collect! This is how USA knows about you. Not by FXChoice.
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Ahh, I see.
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