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It may have something to do with the other email that WTS sent us out today: Dear Traders, Today we’re writing to let you know that as a firm we’ve made a decision to move away from our current clearing relationship. The primary reason we are moving is so we can continue to offer you...

That's a pretty serious accusation to make considering not one person has come forth and said they had a bad experience with this firm. As myself & other have indicated, this is most-likely consolidation. The smaller firms can not afford to run full-blown broker-dealers. The same thing has...

They do charge the fee even on internal routing mechanisms. I bet they are paying the SEC (or at least settling it) based on whoever is doing their audits. That's a great question which I'd like to hear an answer to.

This is an interesting point. The same situation happened to the Boston, Philadelphia and Chicago branches. They were originally run by small firms but as the regulations became burdensome a lot joined broker-dealers as sub-groups. What we're seeing now is industry consolidation on-shore and...

Regulations, taxes, fines, etc. The days of small-time investors building and growing something from a small startup are long gone. We live in an era where we have different classes of people who are / are not subject to laws. For example, not one person from one of the large banks went to jail...

I only know of Bright that can handle pairs but Bright is a very reputable firm that has been around for a long time

Pairs are different, you are reducing risk dramatically. Holding directional overnights is super risky and at 20-1 leverage, you can probably take out the whole firm if you want it. It's a 5% margin.

This is not the case with broker-dealer activity. If someone is earning commissions off an account and residents in the US, they must be registered with US broker-dealer. The only way you can work for a foreign broker-dealer is to actually live in that country. It is illegal for a US person to...

Wrong. Answering a question is not "a copout" simply because you are incapable of understanding what was implied. If you feel the information isn't accurate, consult with your attorney and accountant. If you need they are "clueless" find new ones. Again, I am not providing any type of legal...

dude stop trolling. I was answering your question - "what are you referring to? is it illegal for a US resident to work for a french firm without a US work permit or a french work permit?" I'm done with this thread. I suggest you seek professional advice from a licensed attorney and CPA...

Without actually moving to France. The same way a Chinese person would need a work-visa to work in the US. Therefore, if someone is operating as a foreign broker-dealer but are physically living inside the US, they are breaking the law.

You will have to contact a lawyer that is licensed to conduct business in your state as well as a CPA. I am in no way, shape, form, scope or measure providing anyone here with advice and I take no liability for any stupidity someone tries to do to illegally hide their income or reduce paying...

http://www.irs.gov/Businesses/Income-from-Abroad-is-Taxable Income from Abroad is Taxable Many United States (U.S.) citizens and resident aliens receive income from foreign sources. There have been recent reports about the interest of the Internal Revenue Service (IRS) in taxpayers with...

Why don't you use the search button? This has been discussed by others on the board. The information is out there. The form you must fill out is a 1040es or a TD F 90-22.1. If your accountant and lawyer is clueless, you need to find new ones. No professional accountant that specializes in...

it's safe to say it doesn't look good for any person or business in that region.

This is information you can obtain from your accountant or attorney. I suggest all of you consult with yours prior to make any investment-related decisions.

& as far as taxes go. It's already been established by myself & others here that the tax advantages in the US far outweigh what you can do overseas since capital gains rates are applicable. Once you bring that income into the US from an overseas firm, you pay standard income tax rates. Sure, you...

No, it's not. http://dealbook.nytimes.com/2013/03/26/federal-reserve-faults-citigroup-over-money-laundering-controls/ "Citigroup and Banamex USA, the American branch of its Mexican unit, did not admit wrongdoing, and no fines were issued Tuesday related to the lapses." The regulators can't...

It's not illegal. Nobody can stop you from taking your money overseas. The only time there is illegalities is if, as mentioned above, the firm is in the US and are disguised as a off-shore entity. If you are dealing with foreign-nationals, their company is overseen by their local governments...

With the system as blatantly corrupt as it is now with history showing honest governments and few and far between, the chance of a sharp return in the US dollar is not very likely. The current political trends are showing the state exercising massive force to maintain power and keep their system...