Trading with offshore bank account

Beginner Questions
1

Hi to everyone,
I am interested to start learning and practicing Forex trading. But I live in country (Macedonia), where any investment in foregin banks, investments fonds, brokers, is illegal.So, is there possibility to start trading with offshore bank account or company? Does any broker accept offshore bank debit card? Also I am open for any other method that gives me possibility to start trading.
Thank you for your help

1 Like
2

Hello, Filip

Your question has me scratching my head.

First, you said that [I]foreign bank accounts and foreign brokers are illegal for you[/I] as a citizen of Macedonia. Then, you asked about forex brokers you can trade with, [I]using an offshore (foreign) bank account.[/I]

How do you expect to do this safely, if an offshore bank account and an offshore broker are both illegal for you?

Have you looked at LMFX, a forex broker domiciled in Macedonia?

If you’re not familiar with LMFX, you might want to research them, beginning HERE.

That post is from THE OFFSHORE BROKER THREAD, a thread devoted to brokers who are outside the U.S., who will accept U.S. residents as clients. LMFX is one such broker, and is included in our List.

LMFX accepts clients from just about every country in the world, [I]but oddly does not list Macedonia in the drop-down menu on their account-opening page.[/I] I don’t know whether that’s just an oversight, or whether it represents the policy at LMFX. The question of [I]whether LMFX accepts clients from Macedonia[/I] has never come up in our thread – so, I will leave it in your hands to research that question.

In THIS POST, you can find links to all of the relevant comments regarding LMFX which have been posted in our Offshore Broker thread over the past year (or more).

Let us know what you find out.

And welcome to this forum!

.

1 Like
3

Thank you for your help,

my idea was to use offshore bank account so my name and activities remain hidden from government officials.

My concern is when I open forex trading account, I will deposit with offshore debit card, so my real addres will be different with banks country.

And if its possible to open offshore company and trade forex as legal entity?

Any help would be appreciated

4

Hi Flip
I have been researching on this topic for a while.

I am trying to post some links but I am not able to.

I need atleast 5 posts to include any links.

5

I haven’t done it yet but this is the info I am looking at:
https://www.offshore-protection.com/share-foreign-exchange-trading-account
https://www.offshorecompany.com/company/foreign-exchange/
https://www.belize-offshore.info/

I have not used any of those companies yet. I will be setting up an Offshore company in a few months.

There are few brokers who offer anonymous accounts with Bitcoin like Simplefx.com, 1broker.com and whaleclub.com. I would be trying out simplefx.

Keep us posted here how it goes. I will do that too.

6

It seems to me that it is convenient to use offshore banks. The main thing is to find the right one.
A couple of years ago I used the services of a Cypriot bank (I will not disclose the name), where almost half a year could not withdraw money.
Then I got my money and changed the bank.
Now all the funds in [removed for violating Forums Policy]. Convenient at reasonable prices. [removed for violating Forums Policy]. They do not care where my company is in and what kind of activity it has.
A couple of transfers came a couple of days later than necessary. but after problems with the Cypriot bank - this is not a problem at all.