This is actually very common and makes sense from the broker side. I have one broker that sends an email on MT4, everyday after rollover, with leverage changes. If there’s a risk event pending, they lower the leverage on whatever instrument where they see risk. Here’s what it looks like.
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Getting residency or creating an offshore LLC is easier than renouncing. I’ve read that renouncing triggers an audit so they can calculate your “exit tax”. There has been a big jump in renouncing citizenship, so they’re doing their best to “discourage” it. Lol
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-I suppose that it would depend on the location and requirements etc… Generally speaking, though, alternative citizenship (especially if renouncing US citizenship), is the most guaranteed way to appear ‘clean’ to offshore banks and brokerages etc…
Exit tax generally only applies to high earners (2M+ net worth). But yes, they will do what they can to try to keep people here, feeding the system.
In fact, a large group of expats are suing the government because the fees for renunciation have become so exorbitant over the years, without any meaningful justification.
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They got you with the spread. At least that would be their excuse.
I would suggest looking at this tool or something similar to keep them honest. Their reply looked like a form letter to me.
https://www.mql5.com/en/code/10102
You could also look into other brokers with better spread. 50 is pretty wide.
16:56 EST today:
Peak hours it’s usually 15
Looking for better brokers is a never ending chore.
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This seemed relevant.
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I get the enforcement of tax compliance, but what the government doesn’t understand, or care about, is that we’re getting shut out everywhere. Unless you’re bringing a lot of money to the table, nobody wants to deal with the US persons and paperwork. Renouncing citizenship is extreme but like @_METHOS has said, for some people, it’s the only way forward. Of course, some bureaucrat will realize this far in the future but it will be too late. It’s similar to the fallacy that increased taxes increases revenue. It never does. Money always flows to where it’s treated best to make more money.
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Forex Chief actually wrote back that the leverage would be determined by the equity of each account, not the total for all accounts. But I guess I should be prepared that the answer may be wrong.
Thanks for letting me know this is common. I have used a handful of other brokers and have not run into this before.
-For sure, if your trading becomes disruptive or too risky etc., then they will do what they need to do. It should be expected, of course.
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What is the broker you quoted in your post?
Many of the offshore brokers I have accounts with no longer offer MT4 Platform, I only ask one why they no longer do and they give me the run around and don’t mention anything about regulators pressuring them. But they won’t say too much about it.
ospreyfx
kot4x
sagefx
nashmarkets
hugosway
swaymarkets
fxsway
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If I remember correctly, only fxsway offers MT5; all of the other brokers that are listed do not offer metatrader at all. Maybe someone can correct me if I am wrong.
I suspect that if there is any truth to the aforementioned rumors, then they would probably not be overly keen on making those details public.
It would seem like an unnecessary risk to consider trading with them at the moment.
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are those three all owned by the same company?
https://www.reddit.com/r/Forex/comments/leaclr/soooofck_it_ill_just_say_hugosway_broker_is_a/
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There is a reason Hugosway never made the list here.
See post 6003
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they use the same prime broker service
Hugosway
Eaglefx
cedarfx
longhornfx
cryptorocket
use the same prime broker service
envifx
kot4x
opspreyfx
nashmarkets
sagefx
swaymarkets
fxsway
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yes you are correct
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I have no problem trading with them, They have develop their own platform.
A few brokers are using TradeLocker as their platform of choice, Just got this Email from Nashmarkets
Dear Trader,
We are writing to inform you about an upcoming update.
As previously communicated, we postponed our plans to migrate your trading accounts to enhanced trading conditions on TradeLocker.
We’re happy to announce that the day has finally come, and starting today, Tuesday, December 5th, we will begin the migration process.
TradeLocker, the innovative trading platform, is here to boost your trading activities. TradeLocker was designed with the needs of traders in mind so you can access the markets with confidence, speed, and security!
Why Trade on TradeLocker
- Comprehensive suite of trading tools
- Powerful TradingView™ integration
- Intuitive, user-friendly Order Panel
As part of this effort, you may experience a brief interruption to our services while we migrate your accounts. During this time, you won’t be able to access your trade account or dashboard. As soon as the migration is completed, you will receive an email notification.
What You Should Expect
- Your trade account(s) will be re-created on the TradeLocker platform
- Your balances and trading history will be moved to your TradeLocker account.
Things to Note
- Open positions will not be migrated – make sure to close all open positions.
- Pending orders will not be migrated – make sure to close all pending orders.
How to Access Your New Account
As we proceed with the migration, you will be notified when we disable each of your existing accounts and you will receive fresh credentials for the new accounts via email. You can view and reset your credentials at any time following these steps:
- Navigate to your account dashboard and locate the TradeLocker account.
- Click on the Credentials button to see your new account number and server name.
- Reset your trade account password to get access and continue trading.
We initiate this migration as a way to ensure the best trading experience for our traders. If you have any questions and want to discuss the transition to TradeLocker, please feel free to reach out to our Support Team, available via the contact details below.
Stay Informed With Nash Markets
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-I think, for me, putting aside any possible scandals, my bigger concern would be the potentially-massive migration of traders away from these brokers as a result of dropping meta. In such a case, you can never know just how solvent a broker may or may not be, so perhaps pulling money out could become an issue. I can only speculate, though.
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Understandable.
Current and future offshore brokers may be moving away from metaquotes, I’m on alert watch for any funny business, Mainly withdrawals. 
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It isn’t one that accepts US residents. I was just surprised at the spread from your screenshots and wanted to share that there are better options out there but it’s not easy. I should have noted that it wasn’t a broker from the list that @Clint maintains. At the time I posted, we were talking about citizenship, offshore company formation, etc.
hi - where do i find this list? thank you.