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American Forex Traders: Solutions to Low Leverage , FIFO and Hedging Ban's:

blownaccount (blownaccount)
Dec 04 2014 at 07:28
104 posts
After being on many different Forums, I see the need for a thread just for American forex traders “Why” you may ask, well because we have to trade by a different set of rules, lower leverage , FIFO rules and no hedging just to name a few prevents American traders from using certain strategies. So it would only make sense to have a thread to collaborate and share ideas and knowledge on hurdles and solutions. That apply especially to American based forex trading accounts.

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CrazyTrader (CrazyTrader)
Dec 04 2014 at 16:55
1718 posts
Why don't you open 2 accounts at least? is this forbidden?

ForexAssistant (ForexAssistant)
Dec 05 2014 at 03:46
465 posts
CrazyTrader posted:
Why don't you open 2 accounts at least? is this forbidden?


No, you can have several accounts but it isn't easy to hedge them if that is what you were thinking. And FIFO was designed to eliminate all grid systems so there is much that we can't do but there is still some things that we can and, in my way of thinking, should do.

What American traders need is a trusted friend that could open a bank account and broker account and trade for their American friend for a small annual fee. That separate entity would only have to obey the laws of its own country so you want to make this friend in the country that has the best laws.

If it sounds like I might be talking about an off shore IBC (International Business Corp), I am.
It's the only thing that makes sense with this heavy handed government of ours and it's legal. Less than $1500 to set it up then about $700 a year to keep the registry active.

I wonder how I could get into that business, the need is certainly there.

Bob

where research touches lives.
peaktrading
Dec 07 2014 at 07:36
3 posts
Bob I don't see why you couldn't accomplish the same thing with multiple LLCs in the US with different trustees and US brokers. Just incorporate in states like Nevada or Wyoming and you're fine. And it's cheaper than running a IBC.

ForexAssistant (ForexAssistant)
Dec 08 2014 at 20:22
465 posts
peaktrading posted:
Bob I don't see why you couldn't accomplish the same thing with multiple LLCs in the US with different trustees and US brokers. Just incorporate in states like Nevada or Wyoming and you're fine. And it's cheaper than running a IBC.


The rules of trading would be the same for a US LLC or any US corporation as it is for a US citizen because of the US residency. The reason to go off shore is to get away from the restrictions put on US traders/citizens.

A second reason is to restructure your taxes. A US LLC would have to pay taxes according to the tax laws of the US which is the only country in the world that taxes its citizens on income from outside the country. An offshore corp. would have to pay taxes to the country where it is set up but only from income generated in that country.

This is only a restructuring of your holdings not a tax dodge because the moment you try to pass any of the corporate holdings on to a US citizen next of kin, the profit of ownership is taxed. Plus any money that the corp pays you is taxable income.

A third reason is liability. There are so many frivolous lawsuits in this country, it is an industry unto itself. If you are a doctor driving a nice car, there are victims just looking for you and your money. If you don't own anything, the courts can't take it off of you. If your corporation is offshore, a US court would have no jurisdiction over it, not exactly sue proof but lets say a sue retardant.

The forth reason is because it makes you feel important, a man of the world. Travel to exotic places on business. Have a corporate expense account, great for picking up chicks.

So there are three reasons to go offshore, I just made up the forth one. No one would ever flash their corporate gold card to attract women.

where research touches lives.
XharpScalper
Dec 09 2014 at 08:21
283 posts
American traders should go in their court and file case against these stupid laws.

Hedging should be allowed.
Maximum leverage should be allowed.
No FIFO shit.

America considers its self to be a free country ? these laws are worst and stupid in world.
You American people cant even spend your own money.

ForexAssistant (ForexAssistant)
Dec 10 2014 at 14:00
465 posts
'America considers its self to be a free country ?

Not anymore. We have the CIA using torture and lying to the American people and to congress, police brutality that gets attention over seas. Our freedoms have been taken away to the point where it would be ridiculous to try to pretend to have a free country any longer, we are a police state.

The courts are run by the same government that took away our rights and freedoms in the first place and we can't even votes the assholes out of power because our votes can be changed in a twinkling of the eye by the voting computers. The world has changed since the turn of the century and the biggest change has been in the US, all bad I'm afraid.

Don't look to the US for anything but evil, I don't and I am trying to relocate my family outside of this nightmare.

Bob
 

where research touches lives.
togr (togr)
Dec 10 2014 at 15:05
4862 posts
blownaccount posted:
After being on many different Forums, I see the need for a thread just for American forex traders “Why” you may ask, well because we have to trade by a different set of rules, lower leverage , FIFO rules and no hedging just to name a few prevents American traders from using certain strategies. So it would only make sense to have a thread to collaborate and share ideas and knowledge on hurdles and solutions. That apply especially to American based forex trading accounts.


There are US citizen friendly forex brokers withoud stupid US limitations.

rob559
Dec 10 2014 at 15:17
1916 posts
togr posted:
blownaccount posted:
After being on many different Forums, I see the need for a thread just for American forex traders “Why” you may ask, well because we have to trade by a different set of rules, lower leverage , FIFO rules and no hedging just to name a few prevents American traders from using certain strategies. So it would only make sense to have a thread to collaborate and share ideas and knowledge on hurdles and solutions. That apply especially to American based forex trading accounts.


There are US citizen friendly forex brokers withoud stupid US limitations.


i second that

i'm trading from my tx home with a canadian acc, i would hate to be obliged to trade at 1/50 leverage with no hedging,very bad laws had been passed so that american traders suffer really about it,those laws should be reversed

i have dual citizenship and i can say that usa is a very super great country,love this place so much

ForexAssistant (ForexAssistant)
Dec 10 2014 at 16:43
465 posts
'i have dual citizenship and i can say that usa is a very super great country,love this place so much'

I was born here in 1952. I see the country today from a perspective of what we were and what we lost, you are coming from somewhere that hadn't quite achieved what we did so it is a great country but it was even greater. And what we lost is more precious than the ability to make money.

You know how to tell when you really love something, it is like ripping your guts out when you lose it. I love my country, I love it enough to tell the truth, we lost our liberty, we are a police state like it or not. There is no rule that says it has to stay that way but right now, don't give up that other citizenship.

Bob

where research touches lives.
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