Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors, and you should make sure you understand the risks involved, seeking independent advice if necessary.
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Past performance is not necessarily indicative of future results.
This website was last updated April 2012
U.S. Government regulations restrict U.S. Citizens from fully utilizing the services of foreign brokers. It is ill-advised for U.S. Citizens to violate the laws of their country. However, there are legal ways to regain your freedom to trade effectively. The most obvious one is to set up an off shore trust. At the time of this writing, we have negotiated with a very competent lawyer in Belize, to offer to our members a discount of approximately 20% off the setup price of a simple trust. There are several benefits to establishing a trust. One such benefit is the ease in passing the trust and its assets to your heirs without probate. Another reason this is done all the time is to protect assets from frivolous law suits, it adds an extra layer of safety because if someone sued you for the asset in that trust, he would have to do so in the country of residency for that trust. Additionally, an attorney may not be so quick to take a case against you if you personally have very little, because your assets are in a trust. A trust can also have its own bank account, foreign trusts wouldn't come under the same limitations for its investing as it is not a U.S. Citizen and U.S. law would be inapplicable. Your retirement program is a natural part of a normal trust. In Belize owner information is protected by law.
Drawbacks are one, it cost around $2,200 to start one, or about $1700 with our group discount. The yearly fees are close to $800, but members could get a discount from that as well, also the first year is included in the setup cost. There is another option, at this time we can't recommend it. There are still a number of unregulated brokers that will take your money, sometimes literally. We are told that since the broker is from some other area, they are not bound by U.S. law. We are told that the U.S. law is worded to limit brokers and there is no law prohibiting U.S. citizens from opening an off shore broker account, (if they can find a broker willing to take them). But are these unregulated brokers are breaking U.S. law by accepting U.S. clients? If so, then would those who choose to use them be an accomplice to their own crime? One could be argued that the broker would not have been able to commit the crime without the help of the U.S. citizen. Now it may not come to that, but traders are risk managers and I don't see the rewards out weighing the risks here when there are alternatives. It may seem hard being singled out and treated like the property of the government but these are hard times and yet, you do have friends.
Our concern here is not as much for what is true at the present, but what may become true in the near future. We have identified a few very stable brokers that meet our requirements for our traders world-wide. They currently are accepting US traders though they are not actively advertising for them because right now as the law is interpreted, brokers that do not have an office within the United States may not actively advertise for US clients. If you are a US citizen, you may contact us for a personal broker recommendation that we think you could check out further. The NFA has forced changes to the trading rules twice in so many years, there is no reason to believe that they won't do it again. Our recommendation is to go the way of a foreign trust. Note: this analysis is based on historical precedence. It is well known that past results are not indicative of future events. This should not be taken as legal advice, only as a suggestion from friends.
Drawbacks are one, it cost around $2,200 to start one, or about $1700 with our group discount. The yearly fees are close to $800, but members could get a discount from that as well, also the first year is included in the setup cost. There is another option, at this time we can't recommend it. There are still a number of unregulated brokers that will take your money, sometimes literally. We are told that since the broker is from some other area, they are not bound by U.S. law. We are told that the U.S. law is worded to limit brokers and there is no law prohibiting U.S. citizens from opening an off shore broker account, (if they can find a broker willing to take them). But are these unregulated brokers are breaking U.S. law by accepting U.S. clients? If so, then would those who choose to use them be an accomplice to their own crime? One could be argued that the broker would not have been able to commit the crime without the help of the U.S. citizen. Now it may not come to that, but traders are risk managers and I don't see the rewards out weighing the risks here when there are alternatives. It may seem hard being singled out and treated like the property of the government but these are hard times and yet, you do have friends.
Our concern here is not as much for what is true at the present, but what may become true in the near future. We have identified a few very stable brokers that meet our requirements for our traders world-
Important Notice for U.S. citizens
U.S. citizens
A Law Firm which has successfully helped others to set up an offshore trust or IBC:
Orion in Belize ... www.orionibc.com
Orion in Belize ... www.orionibc.com