Good day, I'm looking for a Swiss broker/bank that distributes X-trader in Switzerland. I saw that UBS is a distributor of X-trader but didn't manage to find contact details. Any help appreciated. Thanks
Is there anybody on this board using xtrader through a non us based broker? Id be interested to know if there was. Im going to switch to a european based broker and let me tell you why. It takes someone with a finely tuned legal mind to understand the pitfalls that dealing with us jurisdiction brings to a business. Some buzz words you might want to acquaint yourself with for future refernce are: civil forfeiture, IRS, three strikes legislation, non existent burden of proof requirements for extradition, litigous claimants and a culture of suing and being sued etc. Ill give a quick example of the type of scenario that could occur : The U.S feels that person A has become too powerful because of expertise in business and computers. Knowing that he is Europe based it waits until he is in the U.K where post 911 legislation and a new extradition treaty that is laughably one sided and virtually impossible to argue against ensures that the extradition is approved. His broker is based in Encino, California and so it is here that he is extradited. Unfortunately he was unlucky enough to have 2 prior drug convictions in europe for relatively minor offences which none the less constitute felonies under californias harsh laws. He is therefore subject to controversial three strikes legislation which means that if found guilty of vitrtually any crime including shoplifting means a mandatory 25 year sentence with no parole amongst the scum of californian gangs in a maximum security hell hole. While awaiting trial over six months passes meaning he is now subject to us tax law. This kicks in a whole new set of laws which result in confiscation of assets REGARDLESS of if he is found guilty or not. In addition civil forfeiture laws ensure that the state can help itself to whatevers left AFTER the taxes have been deducted from his substantial earnings base as long as the state can prove they were used in the commision of one of 300???? eligible offences. Having been sentenced to 25 years without parole it then takes half his earnings for the next 25 years and if hes lucky he gets to keep the other half minus stiff fines civil forfeiture etc.... While on the subject of civil forfeitrue : 2 things . First if your in your 7 million beverley hills mansion smoking a joint and the cops kick in the door and arrest you for possesion of 2 grams marijuana the house is deemed to be an accessory to the crime and liable to civil forfeiture. Same thing if your driving your ferrari and pick up a hooker or are smoking a joint. Now before you label me a "commie" which seems to be the standard method of dealing with difficult elements in society remember what i just said when it happens to you in your so called free country...
As far as how to protect yourself from just such a scenario: Dont use a US based broker if you dont live and are not a citizen of the US because then you fall under its jurisdiction regardless. Trade non us based instruments if you can for the same reason. Separate ownership from yourself by using a company to own and control your assets BUT avoid the US jurisdiction ones like the Bahamas. If in doubt as to why this is a good idea see above... If this all sounds a bit harsh try looking up some examples of the sort of travesties that are committed these days thanks to the most unbeliveably draconian laws designed to ensnare innocent people in to forfeiting there liberties and possessions to states and governments that possess essentially unlimited power and resources and direct those resources literally against poor innocent defenceless citizens who I might add typically pay taxes to said governments...
Big Game Hunter, Ok -- let us if you can find an X_Trader distributor that offers similar rate cards of Velocity Futures or Alaron or... in Europe.