I live in usa and am looking for an offshore broker, i have looked thru offshore section but i’d like some traders to tell me what they are using.
thank you
Im looking too. hotforex closed 2 of my accounts coz I disclosed that I am from the USA. I think if you select “other” from the country drop down list it would enable you to open a hf account but I’m not sure.
I am considering fxchoice but they are out of Belize and I know nothing about there regulatory body/bodies so I am concerned. Finfx is also a strong contender and most likely I will go with them but I am really torn. I will have to do more research before I can decide.
You have to be nimble to succeed in forex but for some reason I feel so set in my ways and this forced change sucks for me!
I don’t think finfx will accept usa customers.
I’ve been looking at fxvv.com, they have great leverage and strict rules on how you wire them money.
I can’t seem to find anyone that is using them is the problem but they do have a facebook account so you can see mebers posting.
I trade fxdialogue and in my view it is the most reliable broker - I have worked with many brokers but this is the one I have found the most reliable one.
According to clint finfx does accept US customers. I will have to confirm this though.
http://forums.babypips.com/rate-my-broker/36221-going-offshore-escape-cftc.html
Group 1 - Brokers who will continue to accept new U.S. clients (34 brokers)
Note: information on platforms, initial deposit, leverage, and spreads was obtained from broker websites.
In some cases, this information is not readily retrievable. If you are able to fill in some of the blanks below, please do.
Most brokers offer more than one type/size forex account (nano, micro, mini, standard, etc.). In each of the listings below, the account referenced is the account requiring the smallest initial deposit.
It is not possible to show spreads for all currency pairs, for each broker. Instead, two spreads — for the EUR/USD and the GBP/JPY — are shown for each broker, as a rough representation of their spread menu.
Email (or telephone) contact info has been added for each broker in Group 1 for those who wish to make their initial contact without visiting the broker’s website. See Going offshore to escape the CFTC
U.K. / western Europe
• FXM Broker Group (UK - ?) — not regulated — exercise extreme due diligence
[ Do not confuse with FXM Financial Services GmbH (Germany) in Group 2.]
Platform: FXM Trading Station. – Min. initial deposit: 100 USD. – Max. leverage: 400:1. – Spreads: EUR/USD 2 pips, GBP/JPY _______
Website: Home page | FXM Financial Group | FOREX | FOREX Broker | FOREX Trading | ECN Broker
Email: <[email protected]>
•[B] Fin FX (Finland)
Platform: MT4. – Min. initial deposit: 150 USD. – Max. leverage: 300:1. – Spreads: EUR/USD 3 pips, GBP/JPY 7 pips.
Website: Home
Email: <[email protected]>[/B]
Finfx does definitly accept usa costumers, because there are no restrictions in finland for forex! also jfd-brokers, and universal-fx would be a choice for you!
Myfxchoice.com is a good broker I think. Ive heard about them from some other forum but when I looked at the website I didnt like it too much. Kind of a little bit too simple for my personal gusto. However, the support has been available 24 hours for me and to be honest they are very patient with their customers. All in all pretty ok and quick. They also seem to know what they are talking about. Bottom Line: Poor webdesign, order execution time very good, support almost perfect and tight spreads. I have decided to stick with myfxchoice.com - hope this helped you.
Hotforex is a good choice of brokers if you are not US resident.
Why do you need offshore broker? If it’s for capital gain taxation exemption, I would propose you Ameriabank brokerage Services. Here the link: ameriabankDOTam/content.aspx?id=brocerige+%28retail%29&page=100&itm=ib+4.2&lang=28
This is an Armenian bank that offers Brokerage services on all major markets and with all major financial instruments( options, futures, stocks, bonds, currency, ETF etc.)
I have an Armenian friend and thanks to him I found that in their country there’s no taxation law concerning capital gains.
So, I found it very tempting, first, because it’s not offshore, so it’s more secure, secondly it turned out that they have a representative office in USA, so no problem to open a bank and broker account.
On the whole, I like their services. Their order execution speed is fast. I would say extremely fast as all my market and limit orders were executed quick enough so I didn’t lose money on fast moving markets as it sometimes happens. Their commission rates are fair. On the other hand, their trading platform is easy to use and very handy (they say they use some known American broker firm trading platform) . To be honest, I didn’t like much their site design, but for that moment it wasn’t very important for me.
What meters to me is the capital gain tax exemption.
Hope I helped you a bit. Anyway, good luck with beating the market! :)))