Going offshore to escape the CFTC

Broker Discussion Forex Brokers
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Daaang. It hurts me reading this.

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Painful wasn’t it. Did he honestly think he was offering new information to a 12k+ post thread?

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Lol he’s moved over to FPA now to spread his bile.

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that’s been around for 12+ years

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Wow, get a life. Unbelievable. How productive I could be if I had that kind of time on my hands.

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I just don’t get what point he is trying to make. If regulated offer no more protection but more risk as more funds are required to trade with then what good is an address if there is no possible recourse anyway? Idle hands and all that.

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He clearly doesn’t get it. Where he is saying we are in danger of losing our money, we are smart enough to have already calculated and mitigated the risk. Possibly there are “regulated” brokers that will not accept US citizens that offer protection of funds, however the US options are CFTC regulation with no protection of funds OR offshore unregulated with no protection of funds. Due to the fact I only need 5%, (YES, 5%) of the margin offshore to execute THE SAME EXACT TRADE with a CFTC broker. Offshore is EXACTLY 20 TIMES LESS RISKY!!!

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Hi,grandpipmaster,
This is my MFF live account first month payout day, do I need to email [email protected] to request a payout, or should I fill out bonus form at their website?

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First of all, nice job! I do both, the form on the website should suffice, but I always email as well. It hopefully will all be automated soon. FYI, I always request on Friday as it currently takes 24-48 hours to reset your account. This way you do not lose any trading days, as you are good to go by Monday. This will be your second month now, so now you get paid bi-weekly. Once again, I recommend every other Friday. I have FTMO and MFF alternate so I get paid weekly.

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Thanks.
Yes, I was also wondering how long I have to stop trading waiting my account to be reset. Friday request is a good solution.
So If my account is 5000 in profit on Wednesday(payout day),on Friday it is 7000 in profit, my payout amount should be 5000 or 7000?

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It will be based on what you request. There is actually a field for you to put amount. Some folks I think will leave a buffer (I see no point), so if up 7000 on Friday, payout is based on that amount. I usually try to close everything by London close and submit request then.

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:rofl: :rofl: :rofl: What’s wrong with that guy, he is trying to scare us into using regulated brokers
https://www.forexpeacearmy.com/community/threads/brokers-operating-from-hotels-is-a-ok-from-babypips.72141/

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Yes, I definitely want to risk 20 times more than I need. The ironic thing is, he is trying to teach us financial responsibility. I’d say risking 20 times more than I need to accomplish the same thing is not financially responsible.

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You all missed the part where he threatened to have new laws on the book criminalizing use of offshore brokers. I won’t be surprised if this is a guy affiliated from one of those scam Forex dot com CFTC regulated sites/services. They created trading conditions to limit profitability of retail traders and created laws to block out competition. Probably discovered its not stopping retail traders from looking elsewhere. So they resort to flooding forums. The concern that they could technically sponsor some unwitting congressman in the middle of nowhere to sneek in anti offshore brokerage laws targetting retail traders is a reality. They will simply call it anti money laundering act, in an upside down world where off shore banking by superich is allowed, but offshore trading is not.

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Brilliantly put

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It’s how they passed Dodd-Frank in the first place. It’s also how they passed the gambling act prohibiting online poker. Everything I (or any average American) can make money at, they don’t want. It’s just ironic in the “land of the free” we have the same rights as North Korea and Iraq. Literally when you pull up a regulated broker in another jurisdiction, it states we do not accept residents from The USA, North Korea and Iraq.Funny, I was thinking the same thing though. The only possible reason for someone to be so animant regarding prop firms and unregulated brokers is if you have some affiliation with a company these other firms are taking business from. I mean the occasional negative comment OK, but these folks are investing way too much time and resources to just be “saving the world” as they claim

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How many hours/days did you lost to check and write all this? And what all this is telling us? Nothing. :laughing: I have a personal experience with them (without mentioning my account size) and all i can tell you is that im more than fine with them and thats a long term use.

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See the bolded text below for a measure called the human freedom index, which utilizes these measures to rank countries.

  • Rule of Law
  • Security and Safety
  • Identity and Relationships
  • Size of Government
  • Legal System and Property Rights
  • Access to Sound Money
  • Freedom to Trade Internationally , Freedom to do business in another country
  • Expression and Information
  • Religion
  • Movement
  • Association, Assembly, and Civil Society

https://worldpopulationreview.com/country-rankings/freedom-index-by-country

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From Myforexfunds CEO interview:

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