"Optimus Futures LLC is pleased to announce our partnership with IG, a world renowned 44-year old online forex trading provider bringing their high-quality FX trading services to the US."
What?
Best Broker for U.S. Retail Traders?
- Thread starter lentus
- Start date
"Optimus Futures LLC is pleased to announce our partnership with IG, a world renowned 44-year old online forex trading provider bringing their high-quality FX trading services to the US."
What?
Yes, I traded through them myself for long time.
I did not see problems you mentioned at my brokers.
We also have online forum that traders exchange information about those brokers. Any issue from any broker would be posted on forum to alert traders.
https://forums.babypips.com/t/going-offshore-to-escape-the-cftc/35612
bbbbbb but they are not SEC broker-dealers!
So, lentus, you agree with this forum link, which is specific to babypips.com/t/going-offshore-to-escape-the-cftc/...
So you agree with him, or not? Is the CFTC worthy of your business in your spot forex world, which is not regulated by anyone?
MattZ
Sponsor
These brokers that are offshore are not allowed to legally accept USA customers or Residents. Period.
The fact that they do tells me everything about them.
If they are not concerned with breaking the legal requirements above then why would they be concerned with providing fair trading conditions, let alone in a market where most market makers stand against their customers trading. Anyway, trade where you wish, these are only my 2 cents.
They are not allowed to "solicit" US customers, but if US traders come to them, and they accept , that will be no problem.
The situation is similar to online poker. US authorities don't like offshore pokerooms to take US customers, but they can't prevent US sitizens from playing online poker at offshare pokerooms.
However, US poker players and US traders are both well serviced at offshare pokerooms and offshare brokers.
Those forex brokers allowed to legally operate in US offer far worse trading conditions than their offshore counterparts. That is why we go to offshare.
BTW, most of those offshare brokers are ECN types brokers that don't bet against customers.The brokers who bet against customers offer fixed spread.
All the brokers in our list offer variable spread.
The situation is similar to online poker. US authorities don't like offshore pokerooms to take US customers, but they can't prevent US sitizens from playing online poker at offshare pokerooms.
However, US poker players and US traders are both well serviced at offshare pokerooms and offshare brokers.
Those forex brokers allowed to legally operate in US offer far worse trading conditions than their offshore counterparts. That is why we go to offshare.
BTW, most of those offshare brokers are ECN types brokers that don't bet against customers.The brokers who bet against customers offer fixed spread.
All the brokers in our list offer variable spread.
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OK, dude, don't be ridiculous. They are breaking US law by accepting US customers, period. Let's just say they're careful with their travel plans to avoid extradition to US.
Who care.
If someone is caught, plenty people behind would line up.
I am happy as long as I have a good broker to trade.
MattZ
Sponsor
The CFTC will issue a notice to any Forex Dealer that is not licensed in the USA.
Research CFTC going after Tallinex is Estonia, JAFX in Bulgaria, etc.
These are countries you referring to as "offshore" gets their bank account Frozen when the CFTC goes after them. Try and get your funds out then. Anyway, I am done on the topic because I would never encourage any (reasonable) trader to leverage 1:500 that yields bad gambling like results.