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

Blown Forex Account Recovery Managment (blownaccount)
Dec 04 2014 at 07:28
posts 104
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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CrazyTraderfx (CrazyTrader)
Dec 04 2014 at 16:55
posts 1718
Why don't you open 2 accounts at least? is this forbidden?
Bob LLewellyn (ForexAssistant)
Dec 05 2014 at 03:46
posts 465
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
posts 3
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.
Bob LLewellyn (ForexAssistant)
Dec 08 2014 at 20:22
posts 465
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.
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XharpScalper
Dec 09 2014 at 08:21
posts 285
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.
Bob LLewellyn (ForexAssistant)
Dec 10 2014 at 14:00
posts 465
'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.
vontogr (togr)
Dec 10 2014 at 15:05
posts 4862
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
posts 1916
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
Bob LLewellyn (ForexAssistant)
Dec 10 2014 at 16:43
posts 465
'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.
Bob LLewellyn (ForexAssistant)
Dec 18 2014 at 17:29
posts 465
Vontogr wrote 'There are US citizen friendly forex brokers without stupid US limitations.'

Had to mull that over for a bit. I had assumed that all but a couple new brokers had quit accepting US citizens but maybe I am wrong about this. The problem with new brokers is that they accept US citizens at first but when they get big enough, their lawyers tell them they can't afford a court case against the US government and they would be better off without us.

Really can't blame the brokers, they are just trying to run a business. FXDD left the US completely because of the governments rules and interference and won't accept US traders for that reason.

So maybe the best thing to talk about would be what brokers still accept US traders. If you know of any, post their name here and I'll try to make a list and check them out, (due diligence you know).

Bob
where research touches lives.
Chikot
Dec 18 2014 at 18:52
posts 2299
Well, Bob, one cannot be free while policing others and interfering in other businesses. It is all coming back to roost now.
Also, freedom / liberty means certain risk taking. Those who sell liberty for security won't get neither.

One American I admire is Ron Paul. It is pity he did not have a chance.

ForexAssistant posted:
'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
Chikot
Dec 18 2014 at 18:55
posts 2299
I am Canadian trader. My last FX account was closed by Oanda some 3 years ago or more.
I wonder, why people do not consider moving into other instruments. Futures might be a good option for those who already know how to trade.
vontogr (togr)
Dec 19 2014 at 07:37
posts 4862
ForexAssistant posted:
 Vontogr wrote 'There are US citizen friendly forex brokers without stupid US limitations.'

Had to mull that over for a bit. I had assumed that all but a couple new brokers had quit accepting US citizens but maybe I am wrong about this. The problem with new brokers is that they accept US citizens at first but when they get big enough, their lawyers tell them they can't afford a court case against the US government and they would be better off without us.

Really can't blame the brokers, they are just trying to run a business. FXDD left the US completely because of the governments rules and interference and won't accept US traders for that reason.

So maybe the best thing to talk about would be what brokers still accept US traders. If you know of any, post their name here and I'll try to make a list and check them out, (due diligence you know).

Bob

I do manage account of my US follower at forex broker inc. So far so good.
entrophi
Dec 27 2014 at 21:20
posts 2
Just phone all the regulators to give them a piece of your mind - constantly. They've cost me an incredible amount of time and money over the years.

We should file a class action lawsuit, these regulations are 100% against the Constitution.
Bob LLewellyn (ForexAssistant)
Jan 03 2015 at 15:28
posts 465
I posted a reply yesterday, fairly lengthy, and today its gone. What do we think that means? Look at the name of the thread and wonder. Of course it could just be a coincidence, they had to reboot and the last posts were lost...

What I wrote was a lawsuit won't work, remember I had tied in with this overlord back in 2008. In essence, our program traded for 6 months, hundreds of trades, zero losses. October, NFA announces rules and reg changes. Supposed to be a hearing. After many attempts to talk with someone a woman called me. Through the conversation, I found that the hearing was a facade and they had already made up their minds. I also explained in the previous post how I figured out that she already knew my system without me telling her anything about it.

It was a new system, never before used or even heard of, then came the new regs, never before used or even heard of.

There is away to protect ourselves but it will take a lot of help from others. From previous experience I know that help won't come from this board, its too cutthroat here, but I think there might be a chance. However, this is the key, it will be next to impossible to show a loss or harm because of the new regulations, lawyer would not take the case. Advice, don't play their game, all the laws in this country are rigged to favor the Overlords,

The overlords have all the power, to beat power you need intelligence, agility, creativity and organization. Does that sound like anyone on here? Until we can develop such a solution, just think things through and get your ass and assets to safety.

Like I said, the disappearing post might just be a coincidence but I think we may have picked up a spook, don't post any secretes you don't want Uncle Sam to know about.

Bob
where research touches lives.
Bob LLewellyn (ForexAssistant)
Jan 20 2015 at 16:16
posts 465
It was noted that there are a couple of brokers that still accepted Americans, however, after awhile, they change their mind. Here is what I am talking about.


FinFX would like to officially inform that due to regulatory reasons, FinFX will no longer offer brokerage services to U.S. citizens as of 30.1.2015.

If you have any questions or inquiries, please feel free to contact us and we will be happy to help and assist you.

We apologize for any inconveniences that this may have caused you and we appreciate your understanding regarding this situation.
 
If you have any questions about the content of this newsletter, do not hesitate to contact the FinFX Customer Service as we are here to help you! Just send an email....

Bob
where research touches lives.
vontogr (togr)
Jan 21 2015 at 09:22
posts 4862
ForexAssistant posted:
It was noted that there are a couple of brokers that still accepted Americans, however, after awhile, they change their mind. Here is what I am talking about.


FinFX would like to officially inform that due to regulatory reasons, FinFX will no longer offer brokerage services to U.S. citizens as of 30.1.2015.

If you have any questions or inquiries, please feel free to contact us and we will be happy to help and assist you.

We apologize for any inconveniences that this may have caused you and we appreciate your understanding regarding this situation.
 
If you have any questions about the content of this newsletter, do not hesitate to contact the FinFX Customer Service as we are here to help you! Just send an email....

Bob

@ForexAssistant
Hi Bob,

well the important message is that existing US FinFx customers are transferred under Tallinex.
Bob LLewellyn (ForexAssistant)
Jan 27 2015 at 07:26
posts 465
Well yes Vontogr, that is important, especially for the Americans that were using FINfx but I think that what this really shows is the level of the problem that Americans face. I keep talking about the options but it really looks to me like the best option is to not try to trade as a US citizen. Either leave the country ourselves or at least to create a separate trading entity (IBC) under some other (offshore) regulations that are more friendly to our cause.

As traders, it is our job to manage risks. The propensity to over regulate is sufficient risk that it needs to be dealt with on some level.

Bob
where research touches lives.
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