Reliable International Firms?

Quote from CoraAG:

Columnist Robert Weinstein, who resides in Wisconsin, recently started w/ them.

http://www.paid2trade.com/blogs/robert-weinstein

Don't know if he's prop or retail. In prop terms, their rates and leverage do not appear to be that great (but I have not talked with them personally). Website says no U.S.
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I recall looking into opening an account with offshore firms before going the CBSX route. If you were a U.S. citizen, then you had to form an IBC (international business corporation).

Perhaps they've changed the rules and have not updated the website, or he's formed an IBC. Not sure either if he's retail or prop.
 
Hi EVojerk,

Remember me?

I can probably help you out, but out of spite I will never do so.

However I will re-iterate your stupid suggestions; "if you've been in this business so long you would be giving recommendations rather than seeking it."

This is what you should expect:

Take your 10k, go to russianbride.com get yourself a half decent looking (temp) wife so you can look somewhat respectable. Go with her to every interview and maybe someone will feel sorry for her and hire you to clean the floor after the real traders do their work.

Happy Hunting !!!







Quote from EvOTraderV2:

Hey Guys,

Just a quick question. I'm looking for a reputable broker that is located overseas. According to what I've read, the regulatory climate for prop traders is going to wreak havoc on trading firms. I'm not really sure if going overseas is the only viable option left, but it does seem to me like big government is pushing it in that direction in order to avoid having to deal with prop firms. If, as I've read on WSJ and other sites, credit-line requirements and more is coming and I really don't feel like jeopardizing my privacy and security just to have "over-sight" which doesn't even include insurance or any protection of capital. They are claiming that all these rules are to protect us from ourselves, which is nothing but hogwash.

I've been with a few local props. Right now I'm with WTS but my lockup period has expired and I'm thinking of going off-shore to avoid having to deal with the mess that occurs when shit hits the fan. The way I see it, the oversight doesn't matter which. Either way, there is no insurance and all the additional regulatory costs associated with US prop firms, makes it more expensive for the firm and for the trader at the same time. The leverage I need is simply not available in retail accounts that require 25k to daytrade. Right now, I have up 10k at WTS.

I understand that despite the lower operating costs, international firms are still harder to physically get a hold of if something was to happen. Anybody out here able to recommend a reputable firm outside of the US? I understand my money is going to be at more risk, but the only other option I see going forward is the government's idea which is "go along to get along or we'll see you gone." I've contacted Nevis, TM Global Capital, International Brokers, WTS and a few others outside the US. Each is different in terms of who can join/commission structure/etc.. I'm really more interested in finding a reputable firm overseas than trying to deal with the BS that they're trying to push on us over a 5k trading account. I'm interested in hearing Don's opinion and other long-term traders who have been in the industry a while. I've been at it 10 years and never felt this much uncertainty looming in the future.

I appreciate the help.
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I have no idea who you are and depending on the context that was made in, it most likely doesn't apply here. There are lots of good trading firms around the globe trading many different markets. No matter how long you've been trading, there are always going to be others you are unfamiliar with that are doing business. Maybe you're all high & mighty enough to determine that, but I'm trying to work off true experiences here and not factless-assumptions.

Thanks to the others who have PM'd me some different firms - some go as far back as the 90's. I still have some research to do.
Somebody here also mentioned the IBC, which helps limit risk itself. I'll probably just end up with WTS, but it would be nice to limit some of the cost/liability. If you've been trading a 100k account with 10k and can get the same deal with only 5k, your 5k is more at risk, but whether or not you're willing to take on the risk for the reduced fees is a decision you make based on a couple of factors, include how long the people you're doing business with have been around. I don't have 10 million dollars up, but I'm comfortable and happy with what I make and can sleep well at night knowing the risks are limited to 10,000 - which I've more than covered in my 401k alone.


P.S. the wife is quiet beautiful and but I'm glad you're quick to suggest them. It shows your expertise in the field.



Quote from 7out:

Hi EVojerk,

Remember me?

I can probably help you out, but out of spite I will never do so.

However I will re-iterate your stupid suggestions; "if you've been in this business so long you would be giving recommendations rather than seeking it."

This is what you should expect:

Take your 10k, go to russianbride.com get yourself a half decent looking (temp) wife so you can look somewhat respectable. Go with her to every interview and maybe someone will feel sorry for her and hire you to clean the floor after the real traders do their work.

Happy Hunting !!!
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Stay well clear of international brokers. They are not transparant, charge huge fees for everything and will nickle and dime you to death. Suggest you rather burn your money than give it to those thiefs.
 
Quote from EvOTraderV2:

I have no idea who you are
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Then you can go through my minimal post count and see for yourself what a useless idiot you were in my thread, when just a year ago I was in the same situation that you find yourslef today.




PS, I will not prolong this arguement any longer and let it end here, however I simply couldn't resist after the way you posted/acted during my times of need/search.


PS2, just shows you the world goes round and round, so be nice to others and sometime in the future it kindness will be returned to you. Act like a useless tool, and that too will come back to you.
 
Maybe you're some trader who lost their $$ and is mad at the advice you received. I literally receive dozens of PMs a month from traders thanking me for my advice and opinion. So, to be honest, one dude's opinion doesn't matter to me.

Quote from 7out:

Then you can go through my minimal post count and see for yourself what a useless idiot you were in my thread, when just a year ago I was in the same situation that you find yourslef today.




PS, I will not prolong this arguement any longer and let it end here, however I simply couldn't resist after the way you posted/acted during my times of need/search.


PS2, just shows you the world goes round and round, so be nice to others and sometime in the future it kindness will be returned to you. Act like a useless tool, and that too will come back to you.
More...
 
I have filled out all of my subcontractor paperwork with an international prop firm I am the U.S question is this is it legal to trade this way? Also what tax forms do I use when filing my taxes at the end of the year. Thanks for your feedback on this?
 
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