There are so many, I have been using offshore brokers for over 5 years now, for obvious reasons, primarily the high leverage and the tax benefits. Started with lmfx and now using fxview. Both are 0 spread brokers that allow scalping but I wanted to give trading other currencies a shot, so now with about 65 currency options, compared to around 45 that I was getting before.
"Open a BVI Corporation, set up a bank account linked to that BVI Corporation, as in the same exact name (any jurisdiction that is not black-listed, will suffice), then open an account at Interactive Brokers, in less than 24 hours. Plenty of banks out there, like ScotiaBank, with international presence. And you are DONE!" And you can do CFDs (of ALL kinds), as well, as you are UK regulated. This shit is NOT rocket science... Interactive Brokers is a REAL broker, btw. You can literally do anything you want. Go wild!
well, the difference is the regulation. I've spoken about Forexchief several times here, and a few others like it. We get good trading conditions from these brokers and are able to make income as such.
Hey ChipShot- are you referring to IB UK or IB US? I'm a US citizen. Trying to get around FIFO rules and low leverage. Assuming you mean IB UK, do they ask for details on who is the beneficial owner of the BVI corp? (or do they ask for your ID?). Wondering if you put in your US passport if that would raise a red flag.
IB UK is the division that handles these types of accounts. They will ask you, of course, who the beneficial owner (s) are, and all its entire incorporation documents. And also IDs. If you are a US citizen, a BVI corp is probably not the right entity. I would consult with a proper legal firm, and get the right advice. You will have to research this one, as I can't give you accurate information. Cheers...