Going offshore to escape the CFTC - Page 361
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  1. #3601
    Join Date
    May 2016
    Posts
    40
    Whoever posted about Berndale here a few days ago can you plz post it again. I believe your post was removed but it was good info.

  2. #3602
    Join Date
    Jan 2016
    Location
    Middle of MO
    Posts
    6
    Quote Originally Posted by john81az View Post
    I just funded a small live account with a broker called Simple FX. They allow U.S clients as long as account is funded with bitcoin. Leverage as high as 1/500 with decent spreads. Reviews found online from U.S residents sound positive from what I have read so far. I also checked the website out with scamadvisor.com as I usually do and it passed with flying colors.
    I checked into SimpleFX. The thing that I don't like is that they do not allow you to use your profits for margin. So you'll have to exit your position and enter again with a bigger position. This is just churning in their favor. Good idea with the BitCoin, but bad execution. Would be better if they used Dash anyway.

  3. #3603
    Join Date
    May 2016
    Posts
    40
    Quote Originally Posted by Tallinex View Post
    Hi, Tim

    In point of fact (and for various reasons), the very vast majority of managed clients join schemes after doing little to no prior research, so I won't retract my comment regarding that. My point is that people mostly consider the "headline" and ignore the main article. If you've considered all the facts and are comfortable with the risk of a particular manager's strategy then that's fine, but if you're one of the many people who join a clearly riskier managed scheme and then start ranting because your account is down 30% then the fault is entirely your own.

    As for the two links you mention, one is the verified feed from the manager's PAMM and the other reflects an unverified account - possibly a previous account with a different broker that appears to trade a different strategy.

    As for "bad reviews"...

    First of all, there are are at least two sides to every story, but those who post bad reviews only ever present the facts as they see them.

    In the main, these reviews are left by people who suddenly decide that various stated and/or common-sense rules should not apply to them. We frequently encounter people who refuse to provide requested ID and/or proof of address and/or card ownership, or get angry because we do not allow 3rd-party funding of accounts.

    Similarly, people have joined managed schemes that stipulated various participation rules... and they electronically signed their acceptance of said rules, only to scream and shout when they wanted to breach those rules and were refused.

    Ultimately, experience has shown that people with insufficient knowledge of trading and/or market behaviour will post bad reviews about any and every broker on the planet, but many times the review lacks substance, so you need to read between the lines... for example:

    "xxx broker opened my trade at 1.45250 when the price was 1.45000"
    What the poster omits is that their broker is ECN and their trade was opened 5 seconds into NFP (few people appreciate that the Bid/Ask prices shown by an ECN broker reflect the last prices transacted, not the price they will be filled at ... this is entirely different to the Bid/Ask prices shown by market makers, as they reflect the prices the broker is offering)

    "xxx broker triggered my buy stop order but price didn't reach my level"
    Typically, the poster will be unaware of the fact that buy stops are triggered by the Ask price, but charts are drawn from the Bid price

    "xxx broker closed my trade early - price never reached my SL"
    Many clients are totally oblivious to the concept of stop-out and cannot comprehend that they actually need an adequately-funded account to trade unhindered

    Basically, 99.999% of bad reviews (especially related to Tallinex) are due to abject stupidity / ignorance on the part of the poster and, sadly, the vast majority of posts / complaints come from US residents who really do themselves no favours in that regard.
    Tallinex, why do you hate American residents? I don't live in USA but I know the bad reviews might be other nationalities too. I have read a lot of other nationalities like Malaysian, Indians etc are writing complaints about several forex brokers not necessarily your company but FXCM, Hotforex and Instaforex too. Asians are more inclined to use FXCM, Hotforex and Instaforex. Maybe due to same time zone, more Americans are your clients and some of them have written those bad reviews but honestly people who get involved in forex are not stupid and ignorant, They study for months first and play with demo accounts. Unfortunately, demo accounts show immediate executions which are not available in real world environment. There are many factors involved here. Yes you are correct that an adequately funded account is needed to trade unhindered but unfortunately not everyone has hundred thousand dollars lying around. Some people are trying to do day trading and making forex trading to support themselves.
    Last edited by TimAllen; 06-18-2016 at 05:48 PM.

  4. #3604
    Join Date
    Jul 2013
    Posts
    2,540
    Quote Originally Posted by TimAllen View Post
    Whoever posted about Berndale here a few days ago can you plz post it again. I believe your post was removed but it was good info.

    Please excuse my mentioning, Tim, that it would probably be a very bad idea indeed to re-post something the moderators have already removed once! I don't know what the policy is here, but in most forums that would fairly automatically result in some kind of ban/suspension. I'm "just saying" ...

  5. #3605
    Join Date
    Jan 2016
    Location
    Middle of MO
    Posts
    6
    Quote Originally Posted by lexys View Post
    Please excuse my mentioning, Tim, that it would probably be a very bad idea indeed to re-post something the moderators have already removed once! I don't know what the policy is here, but in most forums that would fairly automatically result in some kind of ban/suspension. I'm "just saying" ...
    I agree, it would be better to ask for a PM than a repost. Not sure why TimAllen would think if it was removed once that it would stick a second time?....

  6. #3606
    Join Date
    May 2016
    Posts
    40
    Quote Originally Posted by SatchFan View Post
    I agree, it would be better to ask for a PM than a repost. Not sure why TimAllen would think if it was removed once that it would stick a second time?....
    Well, if they could just PM me that info, I would appreciate it. I don't remember the screen name of that person or I would PM myself. I forgot to write that info down as I didn't think the mods would remove the post. I believe it was removed due to email contact on the post.

  7. #3607
    Join Date
    Feb 2012
    Posts
    1
    Wanted to drop a note to Clint and say thank you for the service you provide. This thread has been so helpful. After MB trading got bought by the bucket shop that is Tradeking, I was really down in the dumps and didn't know what to do. Then I found this thread. Its been great. Using the power of voluntary interactions is what I'm all about. I have just opened my account with Traders way. I feel fully comfortable with them after reading every page of this thread. Excited to get trading again with an ECN and try to make a little bit (lot) of money

  8. #3608
    Join Date
    Mar 2009
    Posts
    4,667
    Quote Originally Posted by Libertarian View Post

    This thread has been so helpful.....I have just opened my account with Traders way. I feel fully comfortable with them after reading every page of this thread.
    Hello Libertarian,

    Welcome to the forum, and welcome to this thread. I'm glad you have found our thread to be helpful.

    I'm sure you will be satisfied with Trader's Way as your new broker. As you have discovered in reading this thread, Trader's Way is one of three brokers we have designated as Trusted Brokers --- and we made that designation after a lot of careful vetting based on feedback from live-account customers.

    I wish you successful trading, and look forward to your participation in this thread.

    .

  9. #3609
    Join Date
    Jun 2013
    Posts
    173
    Quote Originally Posted by TimAllen View Post
    Tallinex, why do you hate American residents?
    If you can show any post stating that I or Tallinex hate Americans then you win a $100 funded account.

    Quote Originally Posted by TimAllen View Post
    I don't live in USA but I know the bad reviews might be other nationalities too.
    That fact is never disputed.

    Quote Originally Posted by TimAllen View Post
    They study for months first and play with demo accounts.
    If only that were true!

    Quote Originally Posted by TimAllen View Post
    Unfortunately, demo accounts show immediate executions which are not available in real world environment. There are many factors involved here. Yes you are correct that an adequately funded account is needed to trade unhindered but unfortunately not everyone has hundred thousand dollars lying around.
    Nor do they need to... but if you have a $100 account and you open ten 0.2 lot trades hoping to fade the market, it should come as no surprise when your account stops out... however, this reality seems to elude a lot of people - many of whom cannot grasp the difference between balance / equity / free margin.

    Bottom line, the vast majority of traders have no clue what to do in order to trade profitably, and the most common solution is to blame a 3rd party for their failure. Sorry if that flies in the face of your assumptions, but fact is fact.

    Quote Originally Posted by TimAllen View Post
    Some people are trying to do day trading and making forex trading to support themselves.
    And that's a great goal in life, but one they will only achieve through study... and most people have zero desire to study - that's why sales of Forex courses fell through the floor back in 2007 and sales of $97 EAs went through the roof.

  10. #3610
    Join Date
    Oct 2013
    Posts
    968
    Quote Originally Posted by TimAllen View Post
    Tallinex, why do you hate American residents? I don't live in USA but I know the bad reviews might be other nationalities too. I have read a lot of other nationalities like Malaysian, Indians etc are writing complaints about several forex brokers not necessarily your company but FXCM, Hotforex and Instaforex too. Asians are more inclined to use FXCM, Hotforex and Instaforex. Maybe due to same time zone, more Americans are your clients and some of them have written those bad reviews but honestly people who get involved in forex are not stupid and ignorant, They study for months first and play with demo accounts. Unfortunately, demo accounts show immediate executions which are not available in real world environment. There are many factors involved here. Yes you are correct that an adequately funded account is needed to trade unhindered but unfortunately not everyone has hundred thousand dollars lying around. Some people are trying to do day trading and making forex trading to support themselves.
    Instaforex is an outright scam, I'm highly doubtful they allow their clients to slip a hand in their pockets. FXCM and Hotforex are much better options for traders, I tried both of them and had only positive experience.

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