forex trading

[samuelk]

I apologize for my English.
I'm a professional trader since 2012 and would like to‌ open an offshore company for forex trading.
Any suggestions?

 

[JohnLocke]

For the company it's not the problem, the bank account will be a problem. As‌ I read in some other threads you can open an EMI bank account with LeuPay‍ that may support forex private trading.

 

[Internationaloff]

Hi.
ForEx trading with which broker?

 

[negon]

Is this personal trading or FX trading as a business for 3rd party?

 

[hiju]

OP any input so we may be able to help you? Or is your English‌ that bad that you can't elaborate?

 

[samuelk]

Interactive Brokers.

 

[samuelk]

Personal trading.

 

[samuelk]

My English is not‍ very good.

 

[Internationaloff]

An Offshore company + LB account + mt4‌ platform works fine.

 

[blip]

This sounds interesting but I don't see why he needs an offshore company if‍ it is for personal trading. Can you please elaborate?

 

[Internationaloff]

There is‍ a risk in ForEx investments.
For this reason the best choice is a business account⁠ than personal.

 

[happyjohn]

No need‍ if it is personal Trading and you don't care about tax nor buy anything on⁠ a credit line!

 

[Richmond]

I agree with @Internationaloff .
Forex is an high risk investment and it's better a‌ corporate account than personal account.

 

[diablo]

Where is the risk for‍ private investments in Forex trading?

 

[Richmond]

Loss of money and real estate property (if leverage is used).
Brokers has Credit Recovery‍ Agency in Europe.

 

[diablo]

So you mean the forex broker will have access to my bank account and can‌ just take money out of it if he made any loss?

 

[Richmond]

One friend of mine used the leverage and lost $ 120,000. The Broker used⁠ a Credit Recovery Agency. In the end my friend lost everything.

 

[samuelk]

Any suggestions about jurisdiction?

 

[Internationaloff]

St. Kitts and Nevis, Saint Vincent‌ and the Grenadines, Belize, Seychelles.

 

[ForexSignals]

After the SNB Black Swan event back in 2015 few brokers went under, see Alpari‌ UK and many other Brokers got into financial problems because of improper risk management infrastructure‍ (see FXCM).

Due to the lack of liquidity, and algos no stepping in to take⁠ the other side of retail traders during that time, combined with insane usage of leverage⁤ many retail traders saw their account balance going negative in the tens of thousands of⁣ $$$. But many brokers forgive their clients because many are bucket shop Brokers and can⁢ make the market out of thin air🙂 so they basically could honor the SL, because︀ you werant trading in the real interbank market. While other use A-B books and hedge︁ their entire book so they where safe.

However, I know that IG went after their︂ clients with the negative balance but they backed off once the clients organised themselves and︃ sued IG. It's not that easy for the Broker to just come after you if︄ you go in the red, they have to assume certain risk...

just my 2c

Regards.