Thanks Shatner, yes it’s far worst when I have been a tax paying citizen all my life even filing from overseas everything. It was costing me more to file forms for everything that I would not have to report if I was living in US. Some of the forms were just exact duplication of forms that CPA charged me for.
I am retired and I just want to play with a few thousands to see if I can make a little on the side plus to get to see more of this world. Banks all over the world are shunning US citizens telling me your govt is a nightmare to deal with. They charge them withholding taxes of 30 percent for non reporting. Plus freeze their correspondence accounts for foreigners too that they think are doing anything wrong. For example banks like FBME and BPA in Andorra were shut down completely due to Russian and Chinese depositors. Our govt thinks they should control everyone in the universe for everything. Carribean banks mostly have lost their USD correspondence accounts. Try opening an account in HK and Singapore even if you are a foreigner with no US indicia. They are simply denying foreigners too thanks to all regulations put down by US govt as one if them told me also that we are told now not to open up accounts for non HK or no Singaporean residents too and it is all due to USA govt. Regarding hot forex etc I believe they want to avoid Dodd Frank Act. It’s not just a matter of foreign accounts reporting from banks but forex companies trying to avoid other regulations imposed by our govt.
Thanks for FXCM tip. Their managed accounts are reported on this forum as complete scams. I think I will try Tallinex. I am using US based checking accounts nowadays because banks were closing down my little accounts everywhere. They just want to avoid US citizens period and this is an issue I am seeing and reading about the world over from other expats. No wonder renounciations are increasing.
Hi, I’m Sam new to babypips, planning to change my broker - slippage, high spreads and dodgy support staff are some of the reasons. finpro features the top 5 brokers list that im researching on , can you tell me how your journey has been with them so far?
Hi, Tim - just wanted to clarify that Tallinex is NOT “considered bad” for managed accounts - our managed accounts are, in fact, excellent.
However, excellent infrastructure does not guarantee that the 3rd-party managers making use of that infrastructure are going to make you heaps of money (any more than it guarantees they won’t).
All of our public managers have account histories on MyFxBook so you can easily analyse their trading style and determine whether that style matches your own risk profile. If it doesn’t, you should look for a different manager.
Unfortunately, few people take the time to research anything - deciding, instead, to select a manager based on a cursory glance at an equity graph… then b*tch and scream like little girls and post things around the web when their manager hits a bad spot and they’re staring at 80% draw down.
Is this the fault of Tallinex? Of course not… the same people do the same stupid things when choosing managers at other brokerages, via mirror services such as ZuluTrade, Collective2, MyFxBook, etc., and especially with signals services like the one built in to MT4/MT5 now.
The bottom line is that people simply can’t accept responsibility for their own laziness / stupidity / lack of judgement and feel that implying blame lays elsewhere is the best course of action.
Tallinex, I actually did a Google search and many people did give you bad reviews. I saw the three mentioned managed accounts on your web page and one of them has continuously performed better than the other two shown.
I am glad you are on the forum though to give us a clearer picture. Please do not blame that all those clients of yours are stupid, lazy and have lack of judgement. There maybe a few but everyone that usually takes the step of opening up a forex account does do some homework as it is a highly volatile market. Are you going to tell me that people who chose this manager of yours are stupid ?Trade2FI-MAX PROFIT System by Tallinex | Myfxbook
I do see something strange with this trader mentioned above though. This trader has the same name as the other link above but with different record.
Trade2FI-MAX PROFIT System by Tallinex | Myfxbook
What is the difference between the two of them with exact same name?
All successful trading requires some human intervention. EAs are not all perfect, although they are helpful as far as I have learned from forex gurus.
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.
The profiles do not list USA as a country of residence. So you can have troubles to do the funding even if they like you. Maybe the bank wire will still work. Most payment options are blocked by USA I understand. Hurry before Trump builds the wall and seals you in!
I would suggest Forexbrokersinc they offer small accounts: micro ecn where 1 lot is equal to 1000 1/100th of a standard ecn, not to mention very low spreads almost as good as a non micro account, and they accept all clients and are highly rated! On another note i am suprised nobody has mentioned the problem with many brokers disabling MQL5’s signal providers, tallinex allows them but i tried lmax and assetsfx even a ib of dukac does not have the ability to copy signals, note: signal tab will show in demo accounts but will be removed in live and there is no work around, as you can see in the forums at MQL5.com i also contacted them, apparently it is broker dependent just like VD plug ins the broker chooses their MT4 options.
If a broker is not genuinely ECN/STP then a good signal provider spells big potential losses for them - this may be the reason.
Hi Tallinex, can you give any sort of estimation as to how long it will be before the bank card option for funding will be available again at Tallinex? Thanks!!
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.
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.
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. 
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.
Please excuse my mentioning, Tim, that it would probably be a [I][U]very[/U][/I] 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” … :33:
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.
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 :13:
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 [B]Trader’s Way[/B] 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.
.
If you can show any post stating that I or Tallinex hate Americans then you win a $100 funded account.
That fact is never disputed.
If only that were true!
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.
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.