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If you're a US citizen (even being a foreign resident won't help at this point), they won't take you, many foreign institutions are like this now as a result of FATCA, the only way around it is to obtain another citizenship and renounce us citizenship. That's what makes this issue so serious.

Out of curiosity, where exactly is that 3% number cited anyway? In any case, whether you nominally call it PFOF, or market-making or ripping spreads off of CFDs in a bucket-shop style, it makes up a considerable portion of your revenue altogether, and it is not disclosed how it impacts your...

Most servers come preinstalled with windows, however, they are often dumped for linux by sysadmins, unix-like OS's make up the majority of server market share in usage, but not in sales (many don't care to pay for red hat or suse, and simply just uninstall the default windows os to replace it...

You're clearly living behind the times, I'm not aware what NASDAQ's matching engine was 10 years ago (there's no proof it was windows though), but 9 years ago it acquired instinet (based on linux) and dumped whatever it had of its own legacy platform to switch to instinet's platform. It uses...

NASDAQ runs on Linux: http://www.risk.net/risk-magazine/feature/2318888/trading-technology-product-of-the-year-nasdaq-omx "As an operator of exchanges itself – and user of its own technology – Nasdaq OMX was acutely aware of the growing need for markets to cut costs. The company wanted...

I'm question the veracity of whether certain fx 'brokers' should be eligible to be considered as such, considering their blatant bucket-shop behavior. This is a situation of interest to us citizens, as now regulations are in place, to ban US citizens from using retail fx brokers that actually...

http://edgar.sec.gov/Archives/edgar/data/1499912/000144530514001063/fxcm-20131231x10k.htm (iv) retail revenues earned from contract for differences (“CFD”) trading, fees earned through white label relationships, payments we receive for order flow from FX market makers and commission...

Here is the amendment Law 138 of 2012: http://www.lexjuris.com/lexlex/Leyes2012/lexl2012138.htm So, it is confirmed that the newly defined Article 3 of law 138 to amend article 5 to act 22, completely overwrites all of the former Article 4 of Act 22, which specifically only mentioned long-term...

Even if he is found wrong, provided section 1256 (60/40 tax regime) still works for puerto rican residents, it could still potentially be a type of deal for futures/fx traders, no (13.2% vs. 31.64%)? Can you ask him about that as well?

Some sites are claiming only long-term capital gains: http://www.the2022actsociety.org/index.php/tax-incentives/act-22 Others have conflicting claims, sometimes saying that the deal only applies to long-term capital gains in certain instances even then: http://puertoricotaxincentives.com/...

You have to fill out this form: http://www2.pr.gov/agencias/oeci/Documents/Solicitudes/Solicitudes/Application%20for%20Act%2022%20Fillable.pdf The only restrictions seem to be that you can't have been a previous Puerto Rican resident between 1997 and 2012 and that the Puerto Rican government...

Here is the actual spanish document of Act 22, again, only long-term capital gains are mentioned: http://www.lexjuris.com/lexlex/Leyes2012/lexl2012022.htm

Hi Robert, I'm curious as to how you made that conclusion. I see Act 22 here, do you have any other versions of it: http://unarealty.com/wp-content/uploads/2014/02/Act-22-English.pdf It specifically states that it only applies to long-term capital gains. So, I don't see how all investors can...

The Puerto Rico Tax Break can only make sense for Futures/FX Traders Short-Term Capital Gains rate is still 33% vs 43.4%, so for equities/fixed income traders, it's not a real difference, considering that you'll actually have to live in Puerto Rico. Basically meaningless. For Futures/FX...

And likewise, spreads will give your counterparty a greater portion of their profits for no reason, why should you willingly give it to them when they compete on a different playing field? I've already stated that by simply being a non-us citizen there is much greater opportunity in accessing...

What is your point, same could be said about any trade in any asset class in any instance (even for futures, but it would be illegal there). Do you want worse spreads?, then enjoy your mediocrity, futures are somewhat leveled, but the point is that there are real options, esp. for non-us...

That's why I explained that there were more actual ECN options available to non-US citizens, and yes, spreads do matter, otherwise, you're literally giving money away for no reason. It's not a surprise, that these bucketshop brokers also tend to have the most incompetent and most unprofitable...

In case you mixed it, I explained how even with their 'NDD' service they still openly sell their retail order flow to institutions like in their JV w/ Credit Suisse with their FastMatch ECN. Gain Capital does the same thing with Gain GTX. Now, of course, the resident FXCM rep is going to say...

Not bashing them, I'm just stating the facts. FXCM retail openly states that they are a dealing desk, they also notoriously sell even their order flow for their 'NDD' alleged retail accounts to institutions via their FastMatch ECN with Credit Suisse, so you would be getting ripped off either...

O.K, so you're not an ECP, but based out of the US, which means you're about assuredly using IB. No need to be vague.