Oh, you guys aren’t the same person? Are you sure? Are you punking us? You both just joined yesterday and seem to have the same offshore brokers are bad agenda. C’mon Paul, you can’t fool me.
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no.
.
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you must be the FEDS
“The most terrifying words in the English language are ‘I’m from the government and I’m here to help.’” Ronald Reagan
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It would make more sense to do what is already been done/implemented which is making financial institutions report on X amount of income deposited. How likely is it you go to jail for using an offshore . Highly unlikely. Just like there is no governing law that says you will go to jail for online gambling. Only thing US would do is say “We cant guarantee your funds in case of fraud behavior.”
Unless you have some connections an a US citizen to overseas banking, you will have to deposit your money here. Cashapp, PayPal, Coinbase (other crypto platforms), all trading institutions and banks have to report, pretty much at this point all financial institutions have to report. So even if you tried to say “Oh I didnt make X amount of money” Whatever financial institution you used, has already reported it.
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Even better idea, this , of course, would only be implemented if the “regulators” actually had our best interest in mind…let US citizens trade with other regulated brokers in well established financial centers WHERE THE FUNDS ARE ACTUALLY PROTECTED. Then there would be no market for the offshore “unregulated” brokers. Even better, how about the CFTC actually “regulates” the brokers to provide better conditions as we all have offshore and FOR GOD’S SAKE…put a protection scheme in place for our funds.
But, you see, neither of these will ever happen, as with any government agency, they hide under the guise of “we are protecting the US citizen” when nothing could be further from the truth
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first the leverage was reduced to 50:1 and hedging was disallowed and FIFO was required, then after the offshore broker loophole is closed large minimum deposits of $100k will be required and maximum leverage will be reduced to 2:1, making it impossible to earn profit thru trading forex.
welcome to the new united nations of china.
residents that hold dual citizenships will be allowed to trade at leverages of up to 400:1 and with no minum deposit.
you are being bankrupted.
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Pretty amazing isn’t it. Anything they have their hand in is fine. If I go to Vegas and want to put my life savings on red 7, nobody bats an eye. But if I want to risk $500 on a GBPUSD trade 2.5 lots with a 20 pip stop, I literally need to deposit $7,575. Now, why would I deposit $7,575 for margin (unprotected funds, of course) to risk $500. Offshore, that SAME EXACT TRADE requires a $500 deposit (ironically, the same amount I’m risking)
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what were your true gains/losses for the previous five years in currency trading?
Yeah, OK undercover IRS agent. I might post that publicly on the internet. You’re joking, right?
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LMFX has a right to defend themselves so the question still stands.
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He won’t accept you bringing them on because he’s full of ■■■■. Jennysinger and scottbaxter are the same person. Both joined yesterday with same offshore brokers are bad agenda. This is actually Paul, who started this at forex factory and has since been banned under multiple user names at Forex peace Army. Only explanation I can come up with is he is an absolute nut job or possibly has some affiliation with one of the shitty CFTC regulated brokers. I trolled along today simply for entertainment while waiting for my setups. I knew who this was yesterday as you probably did as well.
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May be these two knuckleheads interesting to learn trading or wants to gamble their money. 
here is my two cents to them.
“Drawing a circle and waiting for a cow to enter is GAMBLING.
Finding a cow and drawing a circle around it is TRADING.”
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yeah i know
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I like that lol simple but to the point. There has to be purpose to your trading and logic behind what youre doing
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Wow…sounds great !! Major reason why I have been away from Coinexx was that they offered cryptos only in MT5.
You are an idiot
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He definitely hasn’t had a decent shag n a long time!
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There are no new laws being drafted. I actually gave it some thought. You had your chance with Dodd Frank and already used the “helping consumers” angle. Targetting Offshore investment /trading will go right up against the very wealthy people who the laws lean to in the first place. Besides why do you take it upon yourself to keep the slaUes in check for the rich masters? Why not make money for yourself?