Page 1 of 732 12 LastLast
Results 1 to 10 of 317

Thread: Profits with an Offshore Broker

  1. #1
    Hey all. I am a U.S. based trader who has been trading FX for about 3 years now. I was recently getting annoyed with U.S. brokers, alongside the crippling limitations by the NFA.

    So let us get down to business: I currently have accounts with Oanda and forex.com. I get enough to earn a living. Problem is, U.S. retail brokers are dying like flies. Interactive Brokers kicked out me with their own $10 million or get out announcement in 2016, and now FXCM is out of the U.S. match with their recent actions. In addition to this, the NFA is slaughtering my leverage, and the margin call limitations are through the roof (ex: for forex.com, you get a margin call at 100 percent)

    I am unhappy about what is happening for us U.S. traders nowadays. Not at all.

    So, me being the adventurous (i.e. mad) entrepreneur that I'm, I decided to go back to offshore brokerage account (it is one I created some time ago to check a recent trading platform which did not work). Yeah, you heard me right. OFFSHORE BROKER. So let's see whether it ends up, no?

    Here is the results so far: in the past 2 weeks, I deposited about $500.

    Broker: fxchoice

    First total deposit (since going back on 2/13/17): $500

    Profits (as of 2/26/17) : $15,828

    Withdrawals (as of 2/26/17): $4800

    More details are in my trading platform. I managed to get the cash far, and withdrawals do NOT seem to be a issue and made a profit on it. The question is, will the broker continue to give my withdrawals to me? In Belize, although it IS controlled. And it's site regarding client disclosures and FAQs leave much to be desired in my opinion, but so far...I managed to get cash in my bank.

    Any remarks? Personally, this account created more profit than all my other accounts combined (weekly profit), but the leverage included with my new trading egy as well as apprehension over the offshore broker status leaves me somewhat concerned.

    Who knows. I'll blow off off this account up on the day, or perhaps the broker will not give me my cash back. At any rate, I got a 960% return on my investment that was latest, so I am golden for now.

  2. #2
    Wow, that is a hell of a return Sort of in exactly the same boat as you. Started with Oanda although been making a trading for 4 years using FXCM. I started a Corporate Account with FX Choice but not financed on account of the very same concerns that you have. In the time percentage based on withdrawls would charge you and it was a show stopper. I mainly use Wire's to transfer to/from my broker. Would you elaborate a little on which Fx Choice is charging for withdrawls? Is it percentage or flat fee based? Thank you

  3. #3
    What kind of account did you start at FX Choice? Was it classic or pro? I'm in the united states and considering opening an account with them. Thanks.

  4. #4
    I am currently having an offshore broker, I am also U.S. based. If anybody is interested in some more information I can share it. I have had no problems with withdrawals or deposits for 6 weeks with them.

  5. #5
    Quote Originally Posted by ;
    I'm currently with an offshore broker, I'm also U.S. based. I will share it, if anyone is interested in more information. I've had no issues with them with withdrawals or deposits for 6 weeks.
    Can you share which offshore broker you use and your experience with them? Thanks.

  6. #6
    US established, here, got annoyed with all the US brokers. And so, I'm having an offshore broker for quite some time now, nothing. Going offshore is not as scary as many traders believe

  7. #7
    Wow, that is impressive return. Do you manage accounts?

  8. #8
    Quote Originally Posted by ;
    Hey all. I'm a U.S. based trader who's been trading FX for about 3 decades now. I was recently getting annoyed with U.S. brokers, alongside the crippling restrictions by the NFA. So let us get down to business: I currently have accounts with Oanda and forex.com. I earn enough to make a living. Problem is, U.S. retail brokers are dying like flies. Interactive Brokers kicked me out with their have $10 million or get out statement in 2016, and now FXCM is out of the U.S. match with their current activities. In addition to this, the NFA is slaughtering my leverage,...
    Any proofs here? C'mon person its impossible to make 3000% in 2 weeks, unless it wasn't a lottery ticket for you . And I doubt that a broker will release some profit made in such a short period of time. 250 percent were made by me in a year with Hotforex also it was a hard earned profit with hell of time spend behind the monitor.

  9. #9
    The proof is in his Trade Explorer.
    He made amazing profits and also lost all of them.
    This shows me one thing; regardless of ECN or MM, when the trader isn't good and does not have any fantastic cash management, he needs to lose the capital. It is just waiting to occur event.

    I concur with you about the hard work. It takes great deal of work, tracking, analysis to earn yield.

    Appears Vermillion is fantastic trader and his lot size are large which can't withstand MM moves. It is excellent learning experience.

  10. #10
    I'm considering trading with this particular broker too. Please keep us all updated.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.