There is a form of hybrid company gents, which is a trust with a board that you might or might not sit on. There is no ownership to declare or power of attorney.

It should still be ok to use that structure.

Correct. Most legitimate brokers are now wanting to know 'who the owner is' and if you don't give it to them....you don't get an account.

Don't fall prey to 'scam' brokers.

Instead, write a letter to your government asking why you have no freedom..

   Britt posted:
   
   robl45 posted:
   nominee will not work. Not with power of attorney, if broker cares, they will say you are us citizen.if broker doesn't really care, it will be fine. Hot forex appears to be taking the hard line of no us owners, directors etc


If I had my choice of any offshore broker, I wouldn't go with HF. They don't have the best trading conditions in terms of executions and disconnects. It's also ironic that they were still accepting U.S. residents when most brokers had already closed their doors to them, and now they are not accepting foreign companies with U.S. residents as directors which most brokers will accept. Maybe they just can't read.


HF has some redeeming qualities, the disconnects have for the most part stopped, the executions aren't great, but aren't terrible. there is no slippage except for the occasional gaps. not to mention they have very high rebate rates. and because their feed is flitered, my ea's tend to do better on it.

I have been looking at pepperstone, but then its approximately half the rebate size. if you have ea's that aren't going for fixed pips then i suppose the lower spread would help but the difference in spread between HF and pepperstone is like .4 or so, its not that big of a deal

I guess the debate here is whether or not you are going to use a broker who 'doesn't care' if they can't verify the owner. The problem with that is you have brokers like MF Global.......White Swan Group.....and the myriad of other Scams who can and sometimes do close up and disappear with your funds.

We trade at MIG Bank.

The offshore IBC/Trust setups will not work there. However MIG Bank is a Bank. Your initial deposits are protected by the Swiss Government. The execution is amazing. The liquidity feeds are amazing. I've yet to see a 'price spike' (and I stare at charts at least 60 hours a week), and you can still Hedge, use your margin at your discretion, and there's no FIFO.

Anyhow...I didn't mean to get into a 'plug for MIG Bank' speech here, I'm just saying companies like Hot Forex, and FinFX....well......how are you as the client protected if you can sneak on in and use them? I've seen Forex 'companies' that look just like them....close up shop and scam their traders.

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However I'd like to repeat again because I have found workable solutions to this question.

The Dodd Frank Bill.....does not talk about citizenship. It talks about residency.

true, but brokers confuse that as well,some will open if you us citizen not residing in usa, others like hotforex said too bad, us ciitizen or resident, you are out. at any rate, are you saying mig bank takes us residents?


   OceansideForex posted:
   I guess the debate here is whether or not you are going to use a broker who 'doesn't care' if they can't verify the owner. The problem with that is you have brokers like MF Global.......White Swan Group.....and the myriad of other Scams who can and sometimes do close up and disappear with your funds.

We trade at MIG Bank.

The offshore IBC/Trust setups will not work there. However MIG Bank is a Bank. Your initial deposits are protected by the Swiss Government. The execution is amazing. The liquidity feeds are amazing. I've yet to see a 'price spike' (and I stare at charts at least 60 hours a week), and you can still Hedge, use your margin at your discretion, and there's no FIFO.

Anyhow...I didn't mean to get into a 'plug for MIG Bank' speech here, I'm just saying companies like Hot Forex, and FinFX....well......how are you as the client protected if you can sneak on in and use them? I've seen Forex 'companies' that look just like them....close up shop and scam their traders.

----

However I'd like to repeat again because I have found workable solutions to this question.

The Dodd Frank Bill.....does not talk about citizenship. It talks about residency.