TradeInvest90 Montenegro? Trust Capital S. TurnkeyFX UK — fintech company providing technical services and white-label trading platforms to brokers — partner to Finpro Trading. USG Capital Israel — subs. The 4-page Offshore Broker List above , compiled by members of this Forum over the past eleven years, has been placed at the beginning of this thread, where it will remain.
On the Broker Aid Station forum, a discussion got started about trading through foreign brokers who are outside the jurisdiction of the CFTC. Then, in subsequent posts, we can talk about specific foreign brokers, and whether there are advantages to trading with them. Gensler set up a straw-man — the leverage limit — and we all bravely attacked and destroyed the straw-man, thinking it was the enemy.
From the very beginning, their objective was ; and they achieved their objective completely. Many reasonable folks, including several on this forum, have pointed out the hazards of using too much leverage, and have endorsed the new CFTC limit. Which misses the point entirely. It is not the proper business of government to regulate the way we live our lives. It is appropriate for the government to require brokers to furnish full and honest disclosure of the risks involved in forex trading, and to furnish full and honest disclosure of the terms and conditions of the trading accounts which they offer.
And it is appropriate for the government to prosecute fraud wherever and whenever it occurs in any of the financial markets. See the Note, below. And under current law, the CFTC has no authority over individual traders who trade through foreign brokers that are beyond the reach of U. S regulation. The U. But, they cannot yet prevent us from having those accounts. These people seem to believe they have the right and the power to do anything they want to do.
These agreements have effectively extended U. There still are countries where these agreements do not yet exist — and we are eager to find reliable brokers within those countries who will do business with us. And there are a few offshore brokers, in Memorandum countries, who have the courage to defy the over-reaching U. They have canceled their plans to open a U. As a bank, Deutsche Bank is domiciled and regulated in Germany. But, their forex operation, dbFX, is domiciled in the U.
Deutsche Bank the German-domiciled bank has a large presence in the U. I have placed my name on a list of people to be notified when that determination is made, and I will pass that info on to you, when I get it.
Have you looked at Dukascopy at all? I currently use DukC and like em as a broker. Hope all is well with you. I have pretty much deforumed if thats the word due to the fact that I have a fulltime job, as well as try to trade as much as possible, so something has to go. I do check in now and then but nothing like 6 or 8 months ago when I spent hours a week reading and commenting. Glad to see you still over here.
If you have any information to the contrary please let me know. Thanks for the info. I approached them a few days ago, and they said the wouldnt accept us clients. Maybe I was speaking to someone uninformed over there. I am going to call them again. It seems as though most of the AUS firms will continue to accept us clients, vantage, gomarkets, forex fs.
Plus the two from panama forex-metal, and eforex. Additionally, while I understand the issue with us based companies with international affiliates having to comply with the CFTC. What is the primary issue for non CFTC regulated firms refusing to accept us clients?
If the CFTC has no jurisdiction, what could they possibly do? Does anyone know anything about liteforex I could not find any US locations listed on the website. I am interested in liteforex because of the small trade size allowed.
Clint I totally agree with your sentiment and frustration with our government making regulations under the pretense of protecting ourselves from ourselves. Its BS!! In reality a leverage cap should not affect a trader that uses any sort of risk management and has a few bucks in the account. The new regs as they are now will probably not affect my trading much. Its that dam slippery slope that has lower margin limits, higher minimum balances, limits on trade frequency, fees on transactions trades , and the big one even higher taxes at the bottom of the slope that has me worried and considering finding a way to move offshore.
Epic post Clint! I was using this particular site mainly because it has a longer list of brokers over than any other site that I am aware of. These lists have to be taken as raw data, at this point. The brokers listed here may or may not meet your particular criteria for a forex broker. For example, these lists have not been filtered for any of the following criteria: 1 are U.
New MT4. Low or Zero Commission. Latitude FX — Trade foreign exchange online - Live currency trading. In most cases, the brokers have furnished enough information that you can decide whether you want to take a closer look at them. It supposedly allows you to search for brokers based on almost any criteria you can think of: country, language, regulation, type of platform, pip spreads, etc. However, the search feature seems to search only the minimal data which has been displayed by the brokers themselves in their respective listings, and this leads to search results that can be bizarre.
For example, I filtered the entire list of over brokers with just two criteria: 1 brokers in the United States, and 2 brokers who accept U. Obviously, every broker in the U. So, those are the search criteria I used to compile the lists shown above. Too cool. Clint I just had a look at those banks you are not mistaken in your observation. Thank you for the list Clint. I am going to talk to as many as I can today, and get answers regarding US clients for anyone that is interested.
Wednesday, June 15, Definition — Offshore Broker A retail forex broker domiciled in a jurisdiction outside the U. Can someone recommend me a good and reliable broker? Regulated vs unregulated. Is Finpro any good? Fin Pro Trading. Found a Forex Trader for Albertans. Unregulated brokers illegal? Whats the Risk? Help Please! US based traders. Funding in Bitcoin? Opening a forex account with a foreign forex broker from the US.
Myfxchoice or oanda. Legit ECN Broker? Canadian Brokers? Broker in quebec. Canada: Looking for a forex broker that accepts BTC. Cysek for non Europeans? Is there any cheaper broker than AMP Global out there? Broker Chooser Website.
Looking for a good broker in Canada. Best broker for US with not that much funds? Trading on multiple time frames. Are volatile currency pairs good for scalping? Offshore brokers. Canadian looking for help with finding a trusted broker. Who's the real broker here?
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Relocating from United States. The BabyPips. Litefinance Brokers. Best brokers in Bahrain? Best broker, I need any tips aswell. Looking for a legitimate non-scam broker Australia. How the world would look like when internet does not exist today? Why open an account with a Crypto based Broker?
Open new account. New ESMA rules While this procedure is rather technical in its nature, since every client fills in a questionnaire before opening a real money account, apparently the step was missing from the UFX new account sign-up process. The company did not have a legal person appointed to provide investment services in Romania, and was not registered in the public register of Romania while accepting clients from the region.
UFX has not been under the radar of the Cypriot watchdog in the past, which was cited by CySEC as a mitigating factor alongside the quick action which the broker undertook to comply with the regulations. In addition, UFX has resolved customer complaints.
The fine, while small, helps us become a better broker for our traders. Each asset class has its own set of protocols put in place to combat their respective forms of abuse. In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers.
Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.
Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors. The most-recent regulatory push in the aftermath of the Great Financial Crisis of has delivered a material shift in the regulatory reporting landscape.
Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry.
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The regulator believes the registration and regulation information claimed on the website is false and misleading, and that UFX Global. UFX is an online forex & CFD trading broker that offers over assets on its proprietary platform & MetaTrader 5 (MT5). Daily market analysis, signals & other. Forex systems by forex traders. Analyze, compare, track the best trading systems - page Scalp IC Markets, +%, %, Real, Copy.