[Animats]

All this to open a day trading account in the Bahamas with a company so flaky that they can't offer accounts to US persons or even to Bahamas persons. It's one of those "trade offshore with high leverage" companies. "High leverage" means high interest charges, which means the return on investment drops. (Their site is vague about interest charges. Not a good sign.) For day trading, the "house edge" is improved. This racket is more commonly seen in foreign exchange and in "binary options" (which are a total scam).

[ascorbic]

FATCA means plenty of legitimate financial institutions want nothing to do with US persons.

[Animats]

That doesn't mean that financial institutions that won't deal with US persons are legitimate. They don't deal with Bahama persons either, even though they are licensed to do so. That might get them in trouble with local regulators.

[ascorbic]

Of course it doesn't mean they're legitimate, but it's also not even a hint that they're dodgy. Likewise a lot of tax havens treat companies that trade locally differently, which is why many refuse to do business with citizens of their domicile. So once again, they may be dodgy but this isn't any indication about that.

[GFK_of_xmaspast]

US-based financial institutions are often willing to deal with US citizens.