I read a lot of the opening/initial posts from 2010/2011, but that was a long time ago now. Has the regulatory landscape changed significantly since then regarding the legality of customers trading CFDs on foreign exchanges?
Also, provided it’s still technically legal from the consumer end, what kind of impact would you be looking at in terms of reporting everything to the IRS? Both in terms of time and cost. I imagine foreign exchanges aren’t going to be sending you cute tax reports you can plug into a tax program like what happens with U.S. financial institutions. Is hiring a CPA the only remedy? How much extra money per tax year (very rough estimate okay) would one be looking at for that?
Feel free to link me to other parts of the thread if these questions have already been answered. In the course of 14 years I’m sure they’ve been asked, but this thread is a bit difficult to navigate. It doesn’t have pages, and there’s no option to jump to the end that I see so I could check more recent replies.
Back in August and September of this year, caffelatte, a former member of this group, reported positive dealings with Ox Securities. Subsequently, SmallPaul posted a recommendation that we add Ox Securities to our List. After that, there was no further mention of Ox Securities in this thread.
Two questions:
• Are any of you guys trading live with Ox Securities, and if so, can you summarize your experience with this broker?
• For the members of this group generally, based on what you have heard and read about Ox Securities, would you recommend adding this broker to our List?
I appreciate your feedback.
Clint
Note: In September, caffelatte stepped away from this thread, and from forex trading — temporarily, we hope — for personal reasons. What I know about that situation was revealed to me in confidence in a Private Message, and I will keep that confidence. We hope to welcome caffelatte back to this group in the near future.
The quickest way to get to this thread is to bookmark post #1. Note that pages are not numbered, but posts are.
From post #1, the quickest route to the last (most recent) post in the thread is as follows: Slide your cursor to the post counter on the right — the one that reads something like 1/15326. When you do this, your cursor will change from a pointer to an up-down scroll indicator. Left-click (and hold) on the post counter and slide your cursor down toward the bottom of the page. When you release your left mouse button, the page will immediately jump to the last (most recent) post in the thread.
If you want to navigate to a known post number (say, post #13500), left click (and hold) on the post counter and slide your cursor up or down, watching the post numbers, until you get as close as possible to your desired post (#13500, in this example). In most cases, you can’t hit your desired post number exactly using this method, but you can get close enough to make the final search quick and easy.
From any post in the thread, if you want to snap back to post #1, the quickest route is simply to left click on the bold heading (Going offshore to escape the CFTC) which appears at the top of every page.
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Nice to hear from you @Clint I personally have not tried Ox Securities but have heard mixed things about them. We should hear more about Ox and Duramarkets and then consider adding either or both of them in Trusted Brokers list
I’ve been with Duramarkets for about 2 months now, and it’s been a decent experience. Nothing extraordinary, but no major issues either. The spreads are good…I can use MT4.
But what really surprised me was when I requested a $2,500 withdrawal—it was processed and in my account in like 36 minutes. With my previous broker, withdrawals took much longer, so this was a nice surprise. Can’t speak for everyone, but I’m happy with how things are going.
Hey everyone, with Trump’s victory in the 2024 election, it’s a great time to think back to 2016 and the wild ride in Forex that followed. Remember how the dollar spiked on the anticipation of tax cuts and growth policies? Then came talk of trade wars, and suddenly, we saw some serious market turbulence.
This time around, we might see a similar blend of initial optimism and cautious trading if big policies are on the table. Are you adjusting your strategies to account for any potential policy shifts?
What is the problem, enter the information of another country and go through registration, then top up the teaser with cryptocurrency and also withdraw, who cares what country you are from.
They went to 0 recently on all the major indices. I think they subsidize their zero spreads by keeping all the positive carry (always 0) and the negative carry is expensive. Also, commission is on the high side at $7/RT but can be pushed down if you trade volume. Great for scalping but not holding positions.
A Canadian trader I know moved to PUPrime when his other broker left Canada a couple of years ago. Maybe worth a look. Canada has it better than the US but not by much. He also mentioned that Ontario residents were specifically restricted by some brokers but any other province was allowed. The rules change every day.
Just FYI - opened a demo account - here’s a select group of symbols and spreads w/ PUPrime for anyone else that may be interested. Ideally, I’m looking for better spreads on the cash indices (in yellow).
