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Offshore yuan falls to record low, yen firm on intensifying trade frictions

This is the best tl;dr I could make, original reduced by 50%. (I'm a bot)
TOKYO - The offshore Chinese yuan fell to its weakest level on record on Monday while the Australian dollar flirted with this year's lows on concerns over a sharp escalation in the Sino-U.S. trade war.
The Japanese currency rose to a seven-month peak as U.S. bond yields plunged, with the 10-year yield at near 3-year lows, also pressured by slowing U.S. jobs growth.
The offshore yuan briefly fell to as low as 6.9875 per dollar on EBS CNH=, its weakest since the start of offshore trading, but quickly bounced back to 6.9793 CNH=EBS to be flat on the day.
China on Friday vowed to fight back against U.S. President Donald Trump's abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.
The Australian dollar slipped 0.14% to $0.6791 AUD=D4, having hit seven-month low of $0.67625 on Friday.
The yen extended its advance to 106.31 yen to the dollar JPY=EBS, down 0.29% from late U.S. levels while the Swiss franc CHF= gained 0.2% to 0.9799 per dollar.
Summary Source | FAQ | Feedback | Top keywords: U.S.#1 low#2 dollar#3 trade#4 Friday#5
Post found in /worldnews.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

offshore forex broker for Quebec residents

Hello everyone.
I moved to Quebec Canada few years ago and I been playing with Oanda demo account, however, I prefer higher leverage. hence I am looking for offshore reliable brokers that accept Canada residents. do you recommend any?
Thank you
submitted by marc23005 to Forex [link] [comments]

There are some offshore Forex brokers accepting US clients... If I report all my profits to IRS, is it legal for me to use these offshore brokers?

submitted by Magister1995 to asklaw [link] [comments]

@AlphaexCapital : Offshore yuan falls to new record low #forex #forextrading #investing

submitted by AlphaexCapital to AlphaexCapital [link] [comments]

Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex

Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex submitted by Gdog1243 to aboutForex [link] [comments]

OANN: Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex

OANN: Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex submitted by thefeedbot to TheNewsFeed [link] [comments]

Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex

Offshore yuan hits all-time low as Sino-U.S. trade war focus turns to forex submitted by thefeedbot to OneAmericaNews [link] [comments]

Russia May Build Offshore Destination for Cryptocurrencies, Exchanges and Forex

Russia May Build Offshore Destination for Cryptocurrencies, Exchanges and Forex submitted by Ranzware to BitNewsLive [link] [comments]

Is it OK to use an unregulated broker?

I am new to forex, but I've been trading crypto a bit. I was using Binance for crypto trading, but right now I want to migrate into euusd.
i don't want to use a regulated company because I reside in a location where the laws suck and they are changing a lot all the time. I am from Russia. So, I am OK with working with an unregulated broker, but I am just not sure about the risks.
What are the risks? And how do you approach this?
submitted by dev_lurve to Forex [link] [comments]

[Business] - Russia shuts down foreign forex platforms specializing in moving money offshore

[Business] - Russia shuts down foreign forex platforms specializing in moving money offshore submitted by AutoNewsAdmin to RTauto [link] [comments]

[Business] - Russia shuts down foreign forex platforms specializing in moving money offshore | Russia Today

[Business] - Russia shuts down foreign forex platforms specializing in moving money offshore | Russia Today submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

MasterCard and VISA crack down on offshore forex brokers

MasterCard and VISA crack down on offshore forex brokers submitted by alexnes11 to RazorForex [link] [comments]

Offshore Forex Broker Licenses - Ocfam

Offshore Forex Broker Licenses - Ocfam submitted by PriyaR0422 to u/PriyaR0422 [link] [comments]

Trading Forex/Indices with Offshore broker using TFSA account?

I’m pretty new to this TFSA account thing.
I use an offshore broker (AvaTrade) to passively trade S&P500 (mostly) and Forex (sometimes) and make some decent returns.
My question is: If I grow my money using such an offshore broker, do these returns still qualify for TFSA? Are there any restrictions on a TFSA account that only certain/some type of investments qualify for the tax shelter?
submitted by jasdeep13 to PersonalFinanceCanada [link] [comments]

[Business] - Transactions of offshore renminbi soar in forex markets even as Trump slams China on currency

[Business] - Transactions of offshore renminbi soar in forex markets even as Trump slams China on currency submitted by AutoNewsAdmin to SCMPauto [link] [comments]

What overseas brokers are US based traders using?

Noob question here. What overseas brokers are US based traders using and are happy with? I’m looking for one that uses 200x leverage and that let’s me use the MT4 platform? How did you set up the overseas entity to gain access? Is there a guide somewhere? Thx - the mystery tomato
submitted by MysteriousTomatillo to Forex [link] [comments]

[Business] - Transactions of offshore renminbi soar in forex markets even as Trump slams China on currency | South China Morning Post

[Business] - Transactions of offshore renminbi soar in forex markets even as Trump slams China on currency | South China Morning Post submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

Zero / Low Commission and Spread Brokers in the US?

I use Kot4 and Hugos but I know their better options out there. I stay in U.S so no IC markerts or vantagefx pls.
submitted by ife101 to Forex [link] [comments]

Offshore Forex Brokers for U.S. Residents

Offshore Forex Brokers for U.S. Residents is right choice to gain more clients. It is helpful to maintain the cost down significantly. A lot of people are worried to open an account with a forex broker.
submitted by forexcamell to u/forexcamell [link] [comments]

For Canadian Clients of VantageFX (or Canadian Forex Traders in General)

As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker.
Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind.
Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies.
Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX.
On that note, I've updated the wiki to include Pacific Union Prime -
Subreddit's Canadian Brokers Wiki Page
The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering.
Key highlights from my perspective:
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must!
UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada.
UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
submitted by finance_student to Forex [link] [comments]

Laws regarding promoting offshore banking services?

I'm planning to start a fintech firm that is partnering with a foreign bank in Antigua to offer a high interest US dollar savings account with no forex conversion fees to residents of developing countries like Turkey, South Africa, Nigeria, Somalia, South Sudan, etc. that have highly volatile currencies which depreciate in value.
For example, one USD used to buy 3 Turkish Lira and now it can buy nearly 10 Lira.
Saving in USD is highly secure, liquid, and appreciative asset.
Mobile app for transactions
Deposit in local currency, but save in USD
No currency conversion fees
Withdraw in USD or local currency up to 7 times a year
7% APR on savings paid in USD
So I know the regulatory system is very complex for offshore banks. In the US, foreign banks are not allowed to advertise towards US residents because of FACTA.
I was wondering if anyone is familiar with regulations regarding promoting foreign banks in countries like Turkey or other countries in Africa?
submitted by JimQ_official to FinancialPlanning [link] [comments]

Why China is Pumping China Stocks

Why China is Pumping China Stocks
TLDR: China is actively fighting domestic capital outflows. They are incentivising keeping funds on-shore by pumping the equity markets. Buy large China stocks (BABA, JD).
Inb4 pos or ban
The Economics
China has a fixed exchange rate regime. Blah blah RMB internationalization, blah blah offshore RMB (which is actually settled in US dollars). This places it within line C of the policy trilemma (which says, you can't sustainably have all 3). Since 2005 to about 2017, the government was moving towards free capital mobility because of large amounts of exports which fed the national forex reserves. You bet billions of RMB left China, which the government didn't really like at first because that reduced domestic investment and would contribute to a weaker RMB. Basically, China was trying to do all 3 which works for a short while... until your forex reserves run out.

The Current Problem
The trade war has definitely been bad for China. I am going to try and skip politics, but basically foreign exchange reserves have been gapping down (official Chinese data is 100% fake). China is increasingly bellicose as well, which doesn't improve relations with trading partners who also buy with US dollars.
You can't exchange for US dollars anymore. For private citizens, you can only exchange for education purposes or travel . For companies, you need verification of invoices through both SAFE (State Administration of Foreign Exchange) and the tax offices. This used to take 24hrs, but is now taking 2-3 weeks for amounts >$500k. China also has US dollar denominated bank accounts. But unfortunately, you can't take it in cash unless you have the reasons above. Chinese media is also branding holding US dollars as unpatriotic, so I'm afraid my $50k in digital money might be subject to confiscation. If not, it's just fake money (can't take cash or wire out).
China has been brrrrrring to the pace of JPOW. Weapon of choice are muni and local bonds, which have been forced upon local banks. This creates a certain credit problem, but let's not worry about that until later.

The Solution
China's pretty smart. All those RMB quotes are fake. You can try to get US dollars, but that is almost impossible now. Anyone who wants to buy RMB, contact me and we'll trade at the current price. So looking at the impossible triangle, free capital mobility has become nonexistent. In order to keep exchange rate stability (to avoid a sudden rush towards the door) and keep printing, free capital mobility needs to be 100% sacrificed.
How do you do that with a population that has seen the west and aspire to get out? You need to keep the money onshore. Thankfully, all Chinese are greedy and the equity markets are full of retailers that pump stocks up or down 10% per day. This is one of the reasons for the early July State Council report calling for everyone to buy stocks. Who's buying? Everyone. And if it drops, the national team takes over.
This creates a powerful incentive to fill the foreign reserves again. Foreigners (funds) would want to get in on the action. They will exchange their dollars for RMB, get those 20% gains, but eventually find out trying to get that money back into USD is impossible.
China has also been strengthening the RMB from 7.10 to 6.96 as of yesterday. Smart, because why would you want to sell an asset that's weakening? This is also a reason why China fears gold rallies - buying gold causes RMB to leave. Happily for the SAFE, some banks have stopped offering their paper gold products.
China will pump its domestic markets. Unless you have a Chinese account, the closest thing you can get to are mega names like Alibaba, JD and Tencent. I would avoid touching too small companies because of LK coffee problems.
Oh yeah the trade war? Well, pussies don't make money.
submitted by 1poundbookingfee to wallstreetbets [link] [comments]

How Obtain an Offshore FOREX License - Offshore Company ... How to Open a Forex Offshore Account? - YouTube How Offshore Forex Brokers with Offshore Forex Trading ... How To Beat Offshore Brokers Using Divergence The Ultimate Guide To Obtain an Offshore FOREX License ... How to Prepare for an Offshore Account Currency Exchange Rates and Investing Offshore

If you are searching for the best offshore forex brokers for US clients or the top ones accepting US residents, you are definitely fed up with the restrictions, set out by NFA and CFTC, such as low leverage or the FIFO rule that basically prevents you from hedging, and you want to be free from all those shackles. Offshore destinations are famous for its light touch regulation, if any. They are attractive locations to forex and binary options brokers, as it is relatively easy and cost-effective for startups to register and run a brokerage business. Besides, offshore zones are generally known for their lax regulation and non-existent corporate taxes. Below you will find a list of Forex Brokers that mainly operate in offshore countries. Nowadays, constantly upgrading regulations impose many limitations and restrictions. For instance, due to the ESMA influence, European residents are forced to trade on the Forex market with maximum 1:30 leverage and stop-out levels at 50%. It’s even more complicated in the USA, not only the trading ... Forex brokers use offshore companies to open accounts as recognize the advantages they gain in comparison to domestic accounts. Non-US brokers are often hesitant of accepting accounts from US clients because of strict regulations of the regulations. Regulations change from time to time, and all brokers are different, so it is important to understand your country's regulatory situation before ... Offshore brokers. Offshore Forex brokers are companies that are registered in special regions with preferential tax treatment and serve traders from around the world. Advantages of offshore brokers. Forex trading through an offshore broker gives a trader a number of advantages. For example, complete confidentiality of information provided by ... Table of Contents: 1 6 Best offshore Forex & CFD Brokers with no ESMA regulation outside Europe . 1.1 Do the ESMA regulations kill small traders? (Europe only) 1.1.1 To choose a Forex & CFD offshore broker is not that difficult; 2 Forex & CFD Broker outside the EU – Review and conditions. 2.0.1 Criteria for a reliable broker:; 2.0.2 Regulations and licenses are important Offshore-Forex-Broker erfreuen sich in letzter Zeit zunehmender Beliebtheit bei Händlern. Dies ist darauf zurückzuführen, dass Offshore-Forex-Broker sehr günstige Bedingungen für den Handel bieten. Die Makler erhalten diese Möglichkeit, weil sie teilweise oder in der Regel völlig von der Steuerbelastung befreit sind. Offshore Forex Brokers have recently enjoyed increasing popularity among traders. This is due to the fact that Offshore Forex Brokers offer very favorable conditions for trading. The brokers get this opportunity because they are partially or, in most cases, totally exempt from the tax burden. As a result, they set the lowest fees, please their clients with bonuses and exclude the occurrence of ... Many traders have started opening offshore forex accounts in foreign jurisdictions because of favourable tax treatments in these sites and to overcome overly preventive regulations in their own country. In this article, we are going to discuss why an offshore company can be of advantage for Foreign exchange trading. There are two significant reasons experienced traders often use offshore ... There are forex brokers in the industry offering very high leverage such as 1:1000, 1:2000, or even 1:3000. I’ve looked into more than 400 forex brokers in the industry to find the highest leverage among reputable forex brokers. After finding them, I examined their leverages from different angles. Although you can find very high leverages such as 1:2000 or 1:3000 there are some limitations ...

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How Obtain an Offshore FOREX License - Offshore Company ...

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