Legality of offshore accounts for US traders

[adrian88 12]

Hello, to all. I've just joined the group and am enjoying all the resources. I'm aware that there are several off shore brokers that don't enforce PDT; however, I'm having trouble finding the legality of a US citizen actually using these platforms to trade. EG I'm looking at SureTrader which offers 6x leverage. I have a 10000 dollar account and something like this would be invaluable in helping me grow my account. Are there any US based traders here who use offshore brokerages?

[Ed 0]

I'd love to learn the same thing as well.  I recently re-joined the platform and currently doing my sim training... Thanks!!

[beau.null 1]

I am also interested in this same topic. If anyone could shine some light, that would be awesome.

Edited February 6, 2020 by beau.null

[jknish 0]

There is nothing illegal about having a offshore account. IE you can open a account at a London bank , that's considered offshore for US citizen. its your responsibility to comply with tax reporting.