Brokers, PAMMs, and the US
May 13, 2011 at 19:41
1,194 Views
6 Replies
forex_trader_32776
Member Since Mar 28, 2011
1008 posts
May 14, 2011 at 03:56
Good question.
Yes you can, however, if you invest into a PAMM you will be working with a CTA(Commodity Trading Advisor) at a regulated Broker within the USA. ( cftc regulations require Money Mangers that operate at US brokers to become a NFA member and CTA)- There are some exemptions here too.
At this moment, I do not know of a CTA on this website that is offering investments. Maybe one will post here =)
The other choice is offshore unregulated brokers which I do not recommend. Not true completely though, you can still find regulated brokers outside the USA that accept US citizens. Dukascopy and MigBank are examples, however, the PAMM option is NOT available to US citizens through Dukascopy. Migbank is the exception.
Honestly, US citizens are limited to signal providers or Currensee.com -
Yes you can, however, if you invest into a PAMM you will be working with a CTA(Commodity Trading Advisor) at a regulated Broker within the USA. ( cftc regulations require Money Mangers that operate at US brokers to become a NFA member and CTA)- There are some exemptions here too.
At this moment, I do not know of a CTA on this website that is offering investments. Maybe one will post here =)
The other choice is offshore unregulated brokers which I do not recommend. Not true completely though, you can still find regulated brokers outside the USA that accept US citizens. Dukascopy and MigBank are examples, however, the PAMM option is NOT available to US citizens through Dukascopy. Migbank is the exception.
Honestly, US citizens are limited to signal providers or Currensee.com -
forex_trader_28881
Member Since Feb 07, 2011
724 posts
May 14, 2011 at 20:46
Failing empire syndrome. Rules are changing and US is lashing out to preserve that which is not sustainable.
As a non US citizen it's fairly easy to see it coming and make a buck from it. Locals however are pretty much stuffed. You guys going to have to riot Arab style me thinks.
As a non US citizen it's fairly easy to see it coming and make a buck from it. Locals however are pretty much stuffed. You guys going to have to riot Arab style me thinks.
May 14, 2011 at 21:57
TheCyclist posted:
Failing empire syndrome. Rules are changing and US is lashing out to preserve that which is not sustainable.
As a non US citizen it's fairly easy to see it coming and make a buck from it. Locals however are pretty much stuffed. You guys going to have to riot Arab style me thinks.
Yep, I agree.
May 14, 2011 at 21:59
ForexScam posted:
Honestly, US citizens are limited to signal providers or Currensee.com -
What exactly is currensee.com I went to there website but they aren't being to upfront on what they are. They display themselves as a signal provider at one point and then the way they talk they are a brokerage offering some type of pamm systems.
forex_trader_32776
Member Since Mar 28, 2011
1008 posts
May 15, 2011 at 03:37
currensee.com offers a Trade leader program that hand picks their best FX traders. Each trader has a real account bridged to their website and monitors the traders activity including volatility, R/R, and consistency of the traders strategy.
If your trading system can hold up to Currensee's requirements for 3 months and your system is not scalping, than you can become a Trade leader. Once you are a trade leader, Investors can follow your trades by paying a 20% Fee(performance Gains Only) to the Trade leader and pay a 2% Capital Investment fee to Currensee.
-The last time I checked, the investor can only use selected Brokers ( Currensee's IB- earns commission on per trade basis)
-The Investor can hand pick as many signal providers that your portfolio desires and discontinue them as needed
-Its not a PAMM system so slippage between the Trade leaders entry and Your Entry has been a Big Concern ( No scalpers, News, High Volatility strategies) - Its a Signal provider Bridge which is a nice Loop Hole around the CTA -NFA guidelines,
Here is a list of the Trade Leaders and their Stats - https://www.currensee.com/leaderboard
With over a Thousand Investors, It's definitely becoming popular after the CFTC regulations.
If your trading system can hold up to Currensee's requirements for 3 months and your system is not scalping, than you can become a Trade leader. Once you are a trade leader, Investors can follow your trades by paying a 20% Fee(performance Gains Only) to the Trade leader and pay a 2% Capital Investment fee to Currensee.
-The last time I checked, the investor can only use selected Brokers ( Currensee's IB- earns commission on per trade basis)
-The Investor can hand pick as many signal providers that your portfolio desires and discontinue them as needed
-Its not a PAMM system so slippage between the Trade leaders entry and Your Entry has been a Big Concern ( No scalpers, News, High Volatility strategies) - Its a Signal provider Bridge which is a nice Loop Hole around the CTA -NFA guidelines,
Here is a list of the Trade Leaders and their Stats - https://www.currensee.com/leaderboard
With over a Thousand Investors, It's definitely becoming popular after the CFTC regulations.
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