FreedomOffshore
Aug 14 2009, 06:24 AM
If you have your money with a U.S. broker and your forex deposit is in USD and your trader makes 8% per month but the dollar is falling by 4% per month then your real returns are only 4% per month. Remember, the USD could collapse very rapidly in the future due to the massive debt perpetrated by the politicians who are destroying the United States.
But if you have your deposit with an offshore forex broker and your deposit is in Swiss Francs which is partly backed by gold and the Swiss Franc is appreciating against the dollar then not only do you get a handsome return from your forex trader but you get the appreciation of the Swiss Franc against the dollar to give you an added profit boost for the month or year or whatever.
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getpaid2trade
Aug 14 2009, 03:06 PM
Your scenario above is only valid if the account holders lives in a non dollar denominated country or spends much of this time money or both outside of a dollar denominated country. Not to mention the scenario is the same for let's say a trader living in London, trading the pound on his pound denominated account. As the pound devalues as does his holdings. This trader might actually prefer a dollar denominated account.
These type of scenarios can get quite complicated but the overall idea to use an offshore broker, especially not within a "Patriot Act" country is a good idea in itself.
FreedomOffshore
Oct 1 2009, 06:59 PM
If you live in a dollar denominated country then you can convert your Swiss Francs or Euros etc. back into dollars and get more dollars for your money. So the scenario is good for all people no matter where they live.
FREEDOM