I second this. That website is really easy to get negative reviews through that can be entirely made up and written by competitors. Every broker on the list is likely to have a plethora of negative reviews written on RipffReport.
FWIW, I don’t take much of anything on there seriously at all. Instead, it is best to check the various forums (like this one) and ForexPeaceArmy. Seeing how brokers resolve issues is more important than whether or not issues exist.
I’ve been with Tallinex for over a year and their customer service has been very good. I like them. The only complaints I have are that their MT4 format doesn’t have New York close capabilities and some of the expert adviser programs I want to use are not compatible with their MT4.
I wasn’t going to mention it just yet, as we’re still testing things, but we may be able to offer 5-candle weeks quite shortly.
If successful, the first tick at 17:00 New York on Sunday will appear as 00:00 on Monday and the week will run through until 23:59 on Friday.
I’ll post an update once we have something more concrete to pass on.
As regards “incompatibilities” with certain EAs, could you be specific? MT4 is a generic platform that is effectively identical to every other broker’s MT4 - if you ignore the different company names, logos, and the odd non-standard EAs and/or indicators that a few brokers add into their builds, there is no difference whatsoever between them.
Tradersway update. They have WITHDRAWN their SpotOptions platform
without notice. Not that this is a big deal, the foreign binary options are
not really that attractive. HyperScalper
Thanks for the heads-up, HyperScalper.
I have corrected the Trader’s Way listing (in post #2 of this thread).
All brokers using the SpotOption platform are forbidden to have US clients as the owners of SpotOption are looking to float the company and can’t do so if the SEC/CFTC/NFA lodge an action against any broker using their platform.
Sorry for the delay in responding. I belong to a trading group called The Forex Guy (which I highly recommend) and they have something called a “Custom Chart Panel” that I tried to install (it’s an EA). No one else on the site had any difficulties and when I asked what I could do, they first mentioned re-installing the MT4 and when that didn’t work they said it wouldn’t work on the daily charts that have that extra 2 hour candle. When I contated Tallinex, they said that they may me changing that but there was no more info then that. I’m certainly happy with Tallinex so far but I am looking to open another account for an MT 4 without the extra candle.
Anybody that trades with Tallinex have trouble closing trades at times with “off quotes” as the issue? This has happened to me SEVERAL times in just the last few weeks, and I have missed out on closing trades because of this at the best prices. And Im not talking a few minutes either. Every time I have spoken to customer service they say its a liquidity provider/server issue, but I find that the frequency is a bit concerning.
I trade with Tallinex daily and have not had an issue like you describe.
Hi Clint (and others),
today is a big day for me. Some months ago I asked Clint if it would make sense to read the whole thread or not. He told me probably it is enough to read the first couple of posts and the lasts (I hope Clint my memory is correct). So I started out like the suggestion was.
I started reading the thread and the topic was so fascinating that I decided to read the whole. I think I have been reading it every single day and today I have finished the very last post. It was a long but very informative read. Basically an open history book where we had high expectations for offshore brokers.
In the beginning everyone was enthusiastic and the list had many offshore brokers. As time has passed more and more offshore brokers closed the doors and the clear downtrend was out there (like in EUR/USD in the last one and a half year). It looks like that people can have wishes and hopes, but the government (and CFTC) is hard to beat. Hopefully the total elimination will not occur and we rather see a trend change there.
I do believe it was worth the whole thread as there were very many wisdom shared beside the main topic (like taxation issues or if there are pirates in Gibraltar, LOL). I had a great time in reading it, hopefully we will all be here in the next 5 years too, just like in the past 5 years (ok, the past was without me).
Thanks for the wonderful work for Clint, other members and also from the side of a couple of brokers.
ForExchange
I hope that tallinex implements the 5 candle week hopefully soon
Hi Everyone. I’ve been trading 25+ years and was looking up some things about Tallinex and came across this thread so joined to report something I’m experiencing now. I’ve been an IB with Tallinex for well over 1 year and everything has been running great. On Oct 23rd I requested a withdraw of my IB funds like I have done since I joined and everything went smoothly to my bank except this one. After it was still not sent and was in pending more than 7 days (not normal) I did live chat and asked whats going on. After a long wait for a reply the agent I was talking with copied the text from an email stating they were having issues with the bank they were using and they almost had it resolved and would have to switch banking. I was pretty hot I hadn’t received the email and voiced I would move my 70 clients out if this wasn’t resolved. Next day I checked and the transfer to my bank was sent. On the 13th of November my bank calls me and wants me to come in Monday the 16th and the manager wants to meet with me as my wire was frozen by the Scotia Bank here in Canada because the banking change by Tallinex now was either sending through an intermediary bank in Russia or changed banks to a bank in Russia and that’s why it was frozen. I will report what is the result after my meeting is but if Canadian banks have this Russian bank on an anti money laundering list then all wires will be frozen for Canadian clients and I assume with stricter policies in the USA any accounts frozen there also. If that’s the case I will quickly be moving my 70 accounts from them before something hits the fan.
To me this is ground breaking and could be very serious for traders with accounts in Tallinex. Meeting at 11:00 AM EST and will report when I get home.
These brokers operate in no man’s land and the only way we can bring them to justice is by letting other traders know what they are doing and warn them of bad brokers. I had an incident recently with Investors Europe who are an absolute scam and took me for a ride with $8,486.40 - be careful guys! Investors Europe scammers also claimed to be regulated in Gibraltar and now claiming to be regulated in Mauritius but all proven to be false and one big misrepresentation. Be cautious who you are trading with !
good luck Daytrdewille, I hope that you get you money out of these buggers
It seems like Tallinex is trying hard to find a bank with intermediaries that have not been ruined by the US. Hopefully they are able to find a solution soon. I am confident they will :45:
Hey, Willie (I think you’re actually David L******d)
Very sorry to see you’ve stooped to scare-mongering and pointless threats… surely, after working with us for “well over 1 year” where “everything has been running great”, the adult approach would have been:
…before posting something potentially damaging in a public forum.
Please remember that we’re focussed on getting funds out to clients, which seems to work fine in most cases, but we can’t react to new instances of banking stupidity if we aren’t aware of them!
“the banking change by Tallinex now was either sending through an intermediary bank in Russia or changed banks to a bank in Russia”
Well… if you’d taken 30 seconds to look at our banking page then you would have seen that our bank is NOT in Russia (saving you from typing half a sentence), and if funds were routed via a Russian correspondent bank then that will be due to issues at YOUR bank, not ours.
Sorry, Nitzant, but you wouldn’t know what “no mans land” was if you were dropped in the middle of it!
I’m sorry to hear that you lost money, but your comment only highlights the fact that you didn’t perform adequate due diligence before putting your money with them… just like the people who had money with Bernie Madoff, PFG Best, MF Global and Refco, which all operated from the ultimate “no mans land” … the USA!
As for your “I hope that you get you money out of these buggers” comment, Willie clearly states that the money has been sent and the issue is with HIS bank, so perhaps you should be making “Hey, Tallinex - sorry to hear that your clients use incompetent banks!” comments instead 
Thanks for the support, Tom… yes - the US is still a huge issue, but Canada has become equally stupid recently … it’s getting like the movie “Dumb & Dumber”!
No matter, we will prevail, and very few people seem to have issues with withdrawals… it’s just unfortunate that some (mostly smaller) banks are staffed by morons who can’t read a wire instruction and see that the funds originated from an EU bank.
thanks for your sympath
Investor Europe did not have one bad report about them and I check everywhere
well I should have checked with regulators before giving them my money that is in hindsight
live and learn
I just have to chime in here. First of all, there is 5 years of research on this thread and I see Investor Europe listed nowhere. I am a US resident and this whole situation is the fault of the CFTC. Hell, we don’t even have an ECN we can trade with. They have driven all but 4 brokers out or into merging with the crooks who have ripped clients off for years. The regulation means nothing, your funds are no more protected in the US than with an 'unregulated" broker. I trade with Trader’s Way, but I also know Tallinex is an excellent broker. They are both more trustworthy than any broker in the US. No freezing platforms, no random price spikes not seen elsewhere, etc, etc. How many times CFTC going to fine these brokers? Here’s the deal…you only need 10% of the funds to execute the same trade with these brokers, so, common sense says, if my money isn’t protected in either place, I think I’ll put up 10% instead of 100%. Leave the rest in FDIC insured bank account. My risk is based on my total forex funds, of which 90% is in my bank. So while it may appear I use high leverage with the funds I have at the broker, I’m still risking the same % , just not risking my funds by letting a US broker hold them. Ironically, I also receive my withdrawals, which I do EVERY SINGLE WEEK, faster than I used to with US brokers.
In short, Tallinex is correct, it is the ridiculousness of our regulators causing all of the issues. Everyone else in the world, including those with all of the “regulated” brokers in Europe, UK, Australia, etc. have high leverage, hedging allowed, no FIFO and their funds ARE PROTECTED. If our government were really looking out for us, they would allow us, instead of prohibit us, to trade with these brokers.
well said Frank
perhaps I was Naive to open an account with the likes of Investors Europe the only way to fight these criminal is to shout loud so and tell the world what they are doing so that they no other innocent client get hurt and hopefully then they will get punished.
In my view Investors Europe will not be in business in 6 months from now and I will do every thing in my power to make sure that not other innocent traders get hurt by them - they are nasty and they deserve to be punished and I believe they will be punished.
I told the story on every forum I know - any recommendation of most popular forum to tell the story about them ?