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Offshore for US Citizens

ForexScam
May 02 2012 at 16:58
1008 posts
Hotforex pulled the plug on US citizens. All open positions will be closed on June 5th

Is finfx next?

Are there any other offshore brokers still accepting US citizens?

TradeCopier2012
May 02 2012 at 17:46
77 posts
It´s a shame. Everybody should be allowed to make some spare money. Because this money will be spend. And this is good for any country.

OceansideForex
May 03 2012 at 06:43
6 posts
There are still work arounds. The Dodd Frank mentions 'residences' not 'citizenship'.

I'm not willing to discuss it publicly, for fear of Big Brother, clamping down even tighter on the freedom of the American people.

PipGnostic
TheCyclist
May 03 2012 at 08:52
724 posts
OceansideForex
May 04 2012 at 07:35
6 posts
IBC's will no longer work as of late last year. I confirmed this with the legal team at my broker of choice.

Basically they find out who the owner is and where they are banking and you will not get into a Forex broker using an offshore corp. They will find out you are a US resident.

Again note I said 'resident' and not 'citizen'.

horse1bun (horse1bun)
May 04 2012 at 11:54
70 posts
I hear central america has affordable beachfront property...

go with the flow; just be on the right end of the wave
PipGnostic
TheCyclist
May 04 2012 at 12:09
724 posts
OF

I'm going to respectfully have to disagree with your 'legal team at your broker of choice'.

You can do a hybrid IBC in a jurisdiction like Hong Kong and there simply is no way of finding out anything. The Swiss might have sold out and there are a few jurisdictions labeled as tax havens that could sell you out, but the rest of the world hasn't. In particular the Chinese. Who probably hates Americans.

Ironic, isn't it?

horse1bun (horse1bun)
May 04 2012 at 12:19
70 posts

   OceansideForex posted:
   IBC's will no longer work as of late last year. I confirmed this with the legal team at my broker of choice.



Yes they want you to think that forex brokers are omnipotent wizards who can see the future with a crystal ball...
 
C'mon man think about, ofcourse they are going to tell you that same line of garbage to dissuade anyone who asks from trying it which like pip-g said is easy if they can't find out it's you.

It's not in their best interest to say 'yes you can do this'
most lawyers only ever tell ppl what NOT to do, lol!

go with the flow; just be on the right end of the wave
OceansideForex
May 07 2012 at 06:10
6 posts
Thanks for the replies, no direspect has been taken.

There are a few work arounds that I've found that have worked, but I was under the impression that the IBC routine had gone the way of the dinosaur.

I'll look more into your sovereigngroup link.

mkeysor (mkeysor)
May 07 2012 at 16:26
12 posts
I like you, am with Hot Forex and in the same situation. I have looked into the IBC route and to get around you being part of the corp and a resident of the US, you have a nominee director for the IBC that has residence in that country, but gives you full power of attorney to do what you need to do.

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