Too long?
You mean there’s a limitation on the number of characters a post may contain?
Hmmm, ok … then updating the link on the OP is the best idea.
O.
We as a trader group use 3tgfx.com they are in new zeland so we dont care about the europen taxes and such. They give us a really competitive spread. So our clients and we also like them. We used alpari, interactivebrokers, ducas (no problems at all but opening account for a client was so haaard), PFG best (thiefs) before.
lol? European taxes?
This thread, as you might glean from its name, is about avoiding crippling limitations imposed on US traders and brokers by the CFTC.
Apart from that, one has to pay taxes in one’s home country, no matter where one’s broker is located.
You appear to be a really professional ‘trader group’. ^^
Hmmmnnn…
I see somebody setting themselves up for ‘the Britney treatment’!!! LOL!!!
Regards,
Dale.
I think that there are several ways to avoid paying taxes in every country and You can have some help by using offshore. I was reading trough the forum and I thought this might be usefull. I was wrong.
Sorry for not getting back to you promptly, [B]Dale.[/B]
Regarding the .pdf suggestion, I will give that some thought.
Hey, [B]Oliver.[/B] I think the limit is something like 14,400 characters, or some such number.
Hello, [B]Peter[/B] (I’m guessing that your first name is Peter — if I’m wrong, please forgive me)
For us, here in the U.S., there is no legal way to [B]avoid[/B] a tax liability, just by moving taxable income to some other country. The U.S. Internal Revenue Service (IRS) taxes the worldwide income of U.S. residents in exactly the same way that it taxes domestic income, with one exception: taxes levied on offshore income by another country are credited against U.S. taxes owed. Net result: we’re going to pay X dollars in tax, regardless — all of it to the U.S. government, or some to another country and the rest to the U.S. government.
For those who want to [B]evade[/B] taxes (as opposed to avoiding taxes), evasion can be easier to accomplish offshore, than here in the U.S. But, even there, it’s a dangerous proposition. Just take a look at how the IRS cracked Swiss banking secrecy, and exposed some 83,000 accounts at UBS belonging to U.S. residents, many of them hiding income and evading U.S. tax.
Anyway, the topic of this thread is how to get out from under the retail forex trading regulations imposed by the CFTC in this country, not how to evade taxes.
Welcome to this thread, by the way. I hope you will stay around.
Hey all,
I seriously appreciate everyone’s comments on here as it gives me an idea of what to expect and do.
My main question is this…I’m contemplating on opening an account with hotforex.com I called CFTC and NFA directly and both of them gave me the oh call this person response to find out if I was authorized or not… Finally I think I talked to someone who said I don’t know I will get back with you what is a good point of contact?
I am hoping that doesn’t cause any legal stirs for anything I am asking. I just want to make sure what I am wanting to do does not cause stirring the water more than it has to.
Since I’m in the military I need to ensure everything I do is legit…(can’t be that bad apple you know?) cause I’m sure they the big eye would pounce on me more than some local civilian person.
P.S. I am still still attempting to understand…
I know that this is all about going offshore to escape the cftc rules and regulations, but any of you have an idea if these websites listed do dealings with introductory brokerages? Mine currently is cashbackforex.com or cashbackforexusa.com I only ask because even with a higher spread margin I don’t know how many people have considered the ability to get some funds back per completed transaction win or lose.
If anything I personally think that CFTC restricts, hurts, and tarnishes its good name even if it is for the better-of-the-people or so they claim.
I want to switch from forex.com and get the 500:1 margin ratio as I am certain I would rake in more transactions with a smaller margin ratio and with the CFTC now imposing the harsh restrictions its driving me insane (from-time-to-time) realizing that if I had traded with the introductory brokerage before, I could have gotten at least 50-100 dollars back per completed a trade from my present trade margin.
If you want me to delete or take this message off please send me a message and I will do it next time I am on… (usually from 1-2 days or a week dependingly.)
:o
Considering that the average cashback is just a few cents per standard lot round trade, you must be trading rather big position sizes (100 standard lots upwards) to receive 50 to 100 bucks back per trade.
O.
I am looking for a broker where my trades are out in the market all the time. I had problems before since I made a scalping system and I tryed several brokers. There were problems with fulfilling the orders all the time. My strategy sometimes opens 50-100 positions in a minute. On Demo account the strategy works nicely, also on backtest but on live I have problems.
Wow, your broker must love you … he earns more spreads/commissions from you in a minute than from most other traders in a month. 
O.
From talking to the customer service I am informed that each completed standard lot (.10 lot size, I.E. 10,000.00) is worth for me .70 pip per transaction. I do around 330,000.00 lot size per transaction, equating to 28.10 dollars per completed transaction.
But the whole reason why I am so interested in this thread is, if I can legally without any concerns or worries transfer my account to another website I could possibly turn that 28.10 per transaction into around 50-75-100 dollars per transaction depending on how risky I consider it worth to attempt and complete.
And if I can do 10 transactions at the 50-100 dollar completions, that’s 500-1000.00 into my pocket. I am not rich, so every cent helps me out some.
I asked the customer service the breakdown and that was how it was explained to me if it is wrong its wrong. But then again, that’s me trading with forex.com where the pip value of eur/usd is 1.00 per pip for their mini. I don’t do micro trading so perhaps that is what you’re thinking.
But anways, once CFTC is done enslaving others to comply to their regulation for united states citizens we can do better trading in my opinion.
Now that I think about it… I think I am understanding why CFTC is attempting to enforce their trading margin requirements…
There was an old quote I don’t remember exactly who or what but it is basically the concept and I’m sure someone else can post underneath me to clarify this:
The person who can control the value of money controls the world regardless of the wars that take place.
“In reference to I think when England or Spain introduced paper money for loans when attempting to find gold or something of that manner.”
Since this thread is about the CFTC and offshore brokers, not about cashback programs, I will refrain from further comments.
Only this much:
1.) A standard lot is 100k base currency units, not 10k (as explicitly stated several times on the cashback website, too).
2.) 0.7 x 33 does not equal 28.10.
O.
Really helped me your answere, I dont care about comission the broker makes on my till I earn money
Well, surprise surprise… Trading Point has just given me the boot since I am a U.S. citizen. The CFTC can suck a … you know what, I’m relocating to Fin FX. Trading Point should be ashamed of themselves, I hope their brokerage goes under along with all of the others who have consented to this tyranny.
I have great news Clint. UpFX will now no longer accept U.S. clients. The CFTC thinks that they’re smart, if that’s what they think, then they have another thing coming to them. I don’t know if it is posted on their website, but if you chat with them they will rudely close out the chat on you if you are a U.S. citizen.
Well, we knew about Trading Point, but we didn’t know about UpFX. Thanks for the heads-up.
You’re absolutely correct, liggy — after I read your post, I tried to open an account with UpFX. Before I had even given them my name or nationality, this cute, little message popped up:
The CFTC seal, and the cartoon of the Capitol dome, are nice touches.
I’ll make the necessary change to our List later today.
Hey Guys,
I’ve been reading your posts and I’m just curious, to by pass the CFTC, can’t a U.S. citizen form a foreign corporation and then choose whatever broker they want???
True. Forming a foreign company and opening a trading account on its name is the perfectly legal way to rid yourself of the US CFTC restrictions.
… and it requires quite some pocket change, like 7 digits. 
O.
Nope. Google is your God. Type in “UK companies formation” or “Offshore companies formation” to check on the costs.