Discussion in 'Forex Brokers' started by NickBarings, Nov 16, 2005.
Anybody knows a good swiss broker with a spread
of 2 pips for the EUR/USD ?
Do you speak German, French or Italian ?
I don't use them, so I have no idea about their quality.
However, I think that most Swiss forex brokers are shady.
If you seek an offshore solution, have a look at
They belong to a big bank, namely Banque Generale du Luxembourg. I don't use them either. Besides, if you are American, then they will not be allowed to serve you.
Sorry for my ignorance but what are benefits of offshore brokers
Potential for asset protection and tax avoidance.
Ok tax benefits i can understand but why is money more secure with them?
It's not about how secure the broker is, it's about lawsuits. If you're a US citizen and your money is in country "X", ain't no one takin it from you.
For the first time in my life, I experienced what a fraudelant lawsuit is like. My Dad had a tenant in a store front. Dad sold the building. The tenant MADE UP a false document, forged my Dad's signiture and sued him. It cost a bundle.
ok thank you
No such thing, unless you are planning on filing a fraudulent tax return, which can get you JAIL time.
The IRS doesn't play. U.S. Citizens are TAX on worldwide income.
Pay your taxes. Avoid JAIL time and sleep well at night is much better than avoiding taxes.
If you can avoid taxes, and still list the stuff on your tax return, then OK. Not listing on your return can create great problems.
I'm not going to argue with you. For those interested, there are LEGAL methods of shifting tax liability in such a manner as to have a significant positive impact on ones finances. If interested, do your homework. THere's some good stuff (amongst the garbage) right here at ET.
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