So,
If I have an offshore brokerage account (i.e Tradersway), I have the ability to trade CFDs of securities (such as Apple) with no issues. However, looking into more details on CFDs I read that they are banned in the USA. So my question is, yes I have the ability to trade CFDs with an offshore account as a US citizen but am I really legally able to do so in this manner? In regards to when it's time to report taxes at the end of year and whatnot? I am starting this thread because I could not find a clear answer on the web. Thank you in advance.
If I have an offshore brokerage account (i.e Tradersway), I have the ability to trade CFDs of securities (such as Apple) with no issues. However, looking into more details on CFDs I read that they are banned in the USA. So my question is, yes I have the ability to trade CFDs with an offshore account as a US citizen but am I really legally able to do so in this manner? In regards to when it's time to report taxes at the end of year and whatnot? I am starting this thread because I could not find a clear answer on the web. Thank you in advance.