Any US trader hear about new tax proposal? It says that money is going to be taxed, think that counts we've got in offshore brokers?
Any US trader hear about new tax proposal? It says that money is going to be taxed, think that counts we've got in offshore brokers?
I had no troubles withdrawing my profits by https://evolve.markets/r/0e701fb5 and https://simplefx.com/?sfx-r=d1cf7ef5...b-e43012ec4e84 bitcoin denominated accounts. They Both are offsore brokers.
I generally would not suggest using offshore brokers to trade https://www.forexbrokerz.com/news/ri...e-forex-brokerOffshore zones are known for their lax or even non-existent regulation, having less funds requirements to its brokers licensed by them (accept Mauritus for instance, their capital requirement is just $28,000!) Put emphasis on compliance-checking, reporting and oversight and, furthermore, companies aren't required to report individual transactions. What is more, there are normally.
That's not to state all offshore-regulated brokers are scammers, I'm far from this notion. However if you're able to utilize an FCA, or ASIC, or AMF, etc.. controlled broker, you'll be taking on fewer risks.
FXCM was an FCA controlled broker. That did not prevent them from getting closed down and stealing from their clients.Originally Posted by ;
I don't think you can rely on regulators in any way.
Except it is no more FXCM (though it might still conduct business under the title) - all assets were transferred to Gain Capital.
https://www.bloomberg.com/news/artic...-as-fxcm-exits