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  • #30,541
  • Feb 14, 2024 11:43am Feb 14, 2024 11:43am
Quoting AaronPriest
{quote} Just watch... Oanda, Forex . com, Trading . com, etc. will all still be allowed to offer MT4 / MT5 to US citizens, so it's not quite as simple as US being banned completely I don't think. Maybe it's because they don't offer CFDs or are "registered" or pay the annual mafia "fees".
no CFDs and registered with CFTC.....all is well. That is all this is, even the MFF case, sure, they found other reasons to make it look worse, buy it truly is this simple. CFDs are illegal in the US. It takes away too much money from too many people in the futures market. It is so clear when you look at all of the facts in front of you.......this is the Commodity FUTURES Trade Commission whose sole purpose is to protect the futures market.....it's in their freaking name. They do this under the guise of protecting traders. However, as I stated yesterday, I can trade the AUDUSD futures contract with 273:1 leverage.
  • #30,542
  • Feb 14, 2024 11:43am Feb 14, 2024 11:43am
Quoting AaronPriest
{quote} Then why can't a prop firm do this as well? And why are City Traders Imperium and The5ers both so certain that they are not affected by all this?

Sounds like a candidate for more fines from the US tax service...
  • #30,543
  • Feb 14, 2024 11:45am Feb 14, 2024 11:45am
Quoting navk
{quote} Prop firms are not going away for US citizens also if they move to Canada as self employed persons. No need of visa. They can live in Canada legally Can trade from Canada in prop firms legally
Most of the people won't relocate hundreds or thousands of Kms to be able to trade 50K or 100K challenges, with all the real world implications like having to sell houses and buy new ones, spouses/husbands/GF/BF having to find new jobs, find schools for kids, etc.

And it's not even guaranteed that they will still accept a US citizen even living in Canada or in France.
  • #30,544
  • Feb 14, 2024 11:46am Feb 14, 2024 11:46am
Quoting navk
{quote} Come to Niyagarafalls from Buffalo by catching a bus or taxi. Rent a home in niyagarafalls. Take Ontario driving licence. Open bank account Start trading in prop account. As simple as that. They are not coming here as immigrants

Read self employed persons ... in the link I provided...
  • #30,545
  • Feb 14, 2024 11:47am Feb 14, 2024 11:47am
Quoting AaronPriest
{quote} Then why can't a prop firm do this as well? And why are City Traders Imperium and The5ers both so certain that they are not affected by all this?
They will be.

And there is no such license for a prop firm.
  • #30,546
  • Feb 14, 2024 11:50am Feb 14, 2024 11:50am
Quoting Capablanca
{quote} Most of the people won't relocate hundreds or thousands of Kms to be able to trade 50K or 100K challenges, with all the real world implications like having to sell houses and buy new ones, spouses/husbands/GF/BF having to find new jobs, find schools for kids, etc. And it's not even guaranteed that they will still accept a US citizen even living in Canada or in France.
This is my fourth country of living.
I have come across all hurdles you stated
Intraday only.
  • #30,547
  • Feb 14, 2024 12:07pm Feb 14, 2024 12:07pm
Quoting navk
{quote} Prop firms are not going away for US citizens also if they move to Canada as self employed persons. No need of visa. They can live in Canada legally Can trade from Canada in prop firms legally
Well it will get banned in canada too. Canada is worst for trading. Only positive side is any registered regulated broker is insured up to 1 million $
  • #30,548
  • Feb 14, 2024 12:08pm Feb 14, 2024 12:08pm
Quoting pipmaster77
Almost all of my positions are actually broken up into 5-6 smaller "trades" to account for my imperfection.
-Not just that, but to minimize slippage.
  • #30,549
  • Feb 14, 2024 12:08pm Feb 14, 2024 12:08pm
Quoting TrAndy1
I have not heard that a broker lost its whole MT5 licenses.
-Some of the unregulated brokers that I trade with have lost their licenses, but not all; there are still some that are operational and offering Meta, while also accepting US clients. It could be a matter of time, but so far, so good.

I do know that Meta cut off many brokers that could not satisfy their newly-imposed in-house requirements, especially those relating to business registration and banking etc.. White labels were probably the first to go, since they pose an exposure risk.

It might be possible that Meta may allow some fully-licensed brokers to continue as-is, especially if they are not openly admitting to accepting US clients, since they have room to claim ignorance.

But for those that openly accept US residents and are obviously not compliant with US regulatory requirements, then they will probably kick them out. Just guessing, though; I have no idea. As of now, it seems that some fully-licensed operators are getting a pass, but whether or not it will be short-lived is unknown.
  • #30,550
  • Feb 14, 2024 12:09pm Feb 14, 2024 12:09pm
Quoting youngD
I am waiting for proper pure crypto prop firm. Operating purely with crypto with slogan "stay safe"
-Fortunately, you do not need to use a broker in order to trade crypto; there are many exchanges, some are even decentralized and offer leveraged trading.
  • #30,551
  • Feb 14, 2024 12:09pm Feb 14, 2024 12:09pm
Quoting CableJ
US traders are persona non grata as long they hold a US passport, renouncing is the only way out.
-This is not yet 100% true, but it could be in the coming years. For those that are willing to relocate, some new doors can become available. Renunciation can allow for 100% tax-free operations, which can make a citizenship-by-investment program of 130k look cheap, since it can essentially pay for itself through all of the tax savings.
  • #30,552
  • Feb 14, 2024 12:09pm Feb 14, 2024 12:09pm
Quoting CableJ
Yes, but all brokers other than us & offshore want nothing to do with US citizens as soon as they show their passport or dual passport with original place of birth
-One can obtain a foreign driver's license and use that. But one needs to be willing to relocate, at least temporarily.
  • #30,553
  • Feb 14, 2024 12:12pm Feb 14, 2024 12:12pm
Quoting AaronPriest
{quote} Just watch... Oanda, Forex . com, Trading . com, etc. will all still be allowed to offer MT4 / MT5 to US citizens
Correct.

Quoting AaronPriest
why are City Traders Imperium and The5ers both so certain that they are not affected by all this?
I know nothing about CTI, whoever/whatever they are. The 5%ers have explained clearly and publicly why they’re not affected, and people who don’t understand what’s going on might want to read that and think about it, and maybe even to try relying on some facts rather than on halfwitted opinions. Then again, they might not want to bother, if they’re just here for forum BS and to try to be right, lol.
  • #30,554
  • Feb 14, 2024 12:15pm Feb 14, 2024 12:15pm
Quoting Capablanca
{quote} Which are probably most of forex brokers, no ? I'm just thinking that this may be much beyond props and get spread to all brokers like tradersway, LQDFX, ICMarkets, coinexx, preventing them from working with US.
Its already happened to several offshore brokers already, MQ pulled the plug on them so they are offering only Tradelocker and or DXTrade supposedly.
Trade with confidence, trade without fear.
  • #30,555
  • Feb 14, 2024 12:19pm Feb 14, 2024 12:19pm
Quoting Nsak3y
{quote}-One can obtain a foreign driver's license and use that. But one needs to be willing to relocate, at least temporarily.
- Darling, let's move to Canada

- What for ?

- Because I want to play some trading videogame where I can receive some payouts if the owner of Blue/Flash is in a good mood or if I don't use 2 IPs in Funded Next or if Angelo doesn't fake some reverse trades.

This would be funny if it wasn't such a tragedy.
  • #30,556
  • Feb 14, 2024 12:19pm Feb 14, 2024 12:19pm
Quoting Cryptosurf
Its already happened to several offshore brokers already, MQ pulled the plug on them so they are offering only Tradelocker and or DXTrade supposedly.
-Yes. I have seen Tradelocker and ACT Trader.

ACT Trader is total dumpster.
  • #30,557
  • Feb 14, 2024 12:22pm Feb 14, 2024 12:22pm
Quoting Capablanca
{quote} - Darling, let's move to Canada - What for ? - Because I want to play some trading videogame where I can receive some payouts if the owner of Blue/Flash is in a good mood or if I don't use 2 IPs in Funded Next or if Angelo doesn't fake some reverse trades. This would be funny if it wasn't such a tragedy.
Yes, a sitcom for sure if I wasn't living in it.
  • #30,558
  • Feb 14, 2024 12:24pm Feb 14, 2024 12:24pm
Quoting Takisd
{quote} They will be. And there is no such license for a prop firm.
So, then, prop firm trading is illegal for US citizens. Full stop. There is no legal way to play. Back to crappy regulated US brokers it is then, with FIFO, no hedging, low leverage, and terrible spreads and slippage during news and rollover. I'm not interested in futures or stocks. Crypto is effectively banished for day trading (no good exchanges left).
  • #30,559
  • Feb 14, 2024 12:28pm Feb 14, 2024 12:28pm
Quoting AaronPriest
{quote} So, then, prop firm trading is illegal for US citizens. Full stop. There is no legal way to play. Back to crappy regulated US brokers it is then, with FIFO, no hedging, low leverage, and terrible spreads and slippage during news and rollover. I'm not interested in futures or stocks. Crypto is effectively banished for day trading (no good exchanges left).
yes I believe this is ultimately the end of it for US.
  • #30,560
  • Feb 14, 2024 12:30pm Feb 14, 2024 12:30pm
Quoting Nsak3y
{quote}-One can obtain a foreign driver's license and use that. But one needs to be willing to relocate, at least temporarily.
Hello Nsak3y;

I trust you are well.

My view is that the current challenge is being viewed through a narrow veneer. There are considerable "solutions" to circumvent the challenges such as Trader 1HR detailed a few posts ago.

There is currently a discussion which I stumbled upon which comprehensively circumvents the challenges without drastic actions such as Traders needing to leave their homes & migrate to other countries simply to trade.

Such as with Trader 1HR, I have to state it is inappropriate to detail these measures on an open forum but you may rest assured that USA Traders, provided they're willing to explore diverse solutions will inexpensively access their income.

Wishing You a pleasant day ahead.
My success is due to The Great Napoleon Hill. May His Name Live Forever
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