High leverage offshore Forex brokers for IBC with US citizen as director/shareholder?

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PR_TJ88

Has anybody gone this route?

To be specific- I'm a US citizen looking to open an account at a Forex broker overseas that offers at least 250:1 leverage (needed for a particular EA to run on MT4)

I'm open to creating an offshore corporation (IBC) and bank account, but need a rec to a broker that won't deny my account application because I (the director) am a US citizen.

I'm not doing this for any illegal purposes. In fact, as a resident of Puerto Rico, I'm already paying zero taxes and have nothing to hide. I'm just trying to get around the Dodd Frank restrictions.

One more caveat- all of the shady offshore forex brokers that only accept crypto are not an option. I'm looking for a solid, regulated broker.
 
PR_TJ88 said:
One more caveat- all of the shady offshore forex brokers that only accept crypto are not an option. I'm looking for a solid, regulated broker.
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You won't find one. No broker with even only two brain cells will accept an US citizen and deal with the hassle that is caused by dealing with US - authorities. Puerto Rico or not, doesn't matter.
 
MrMuppet said:
You won't find one. No broker with even only two brain cells will accept an US citizen and deal with the hassle that is caused by dealing with US - authorities. Puerto Rico or not, doesn't matter.
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Well, I'm hoping you're wrong. I've already found two as a matter of fact- they just don't have the leverage I'm looking for.
1. Pepperstone- they told me via chat they will accept any foreign IBC, even with a US director. She said as long as the company is not based in the US, they don't care who the shareholders are. But they only offer 30:1 unless you can prove you are a "professional" trader, which I cannot in this case.
2. Renesource Capital- Latvia. Accepts US clients no problems at all, but max leverage is 100:1. This will be my fall-back if I don't find a better solution.
 
I thought you were asking about properly regulated bucket shops.

Latvia definitely hasn't the best regulating body and for the EU countries ESMA regulation has capped leverage to 1:30. Pepperstone is in GER.
 
PR_TJ88 said:
Thanks. I've read that thread in detail as well.
My concern is that a couple of the brokers they list as "trusted brokers" get abolutely slammed on other forums like Forex Peace Army. In fact, I was about to pull the trigger on Lmfx (Macedonia) until I saw at least a dozen guys saying there's no way you can get your money out! So not for me...
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Ask your questions on that thread and exchange with traders there. They all have accounts in those brokers for quite time, so they know if a broker has problems.
I would not trust Forex Peace Army and seeing many false accuses there in the past .
 
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