We have thoroughly investigated this problem and we would like to extend our thanks to you for noticing this glitch. We have made a few changes in our system and this matter should now be resolved.
We would like to stress that the issue only affected a tiny amount of traders. We also stress that the “5-pip freeze level” you have quoted is from a long-outdated article - we do not operate any freeze level now.
We continue to remain vigilant, but if you should notice anything like this happening again, please get in touch with us via our Live Chat.
First of all, I doubt this was a glitch. I have been in this industry for too long to fall for that. You need to explain to us why FXCHOICE has been freezing during news. You stated you were freezing before which = to cheating clients out of their money. Then you said you are not doing this anymore.
Maybe you are not implementing the 5-pip freeze like you used to, but you are still freezing, so you are still cheating client out of their money but maybe on less scale than before.
You took all this time, and you gave us nothing. You admitted to wrong doing, but you did not explain anything to us.
Some of us would like to know what was the glitch ( which I know it was not ), and how did you fix it.
We urge you to remain patient as the situation should actually be resolved before the end of this week (24th Feb). Again we stress that this is not a freeze level, we do not operate one. You are of course entitled to your opinion, but we remain vigilant to this glitch and work tirelessly to provide our clients with the best service in the industry.
I do not care if you resolve this issue or not. I have already switched TW. What I want is for FXChoice to let us know here, what was the glitch, and how are you planning to resolve it.
Also you mentioned, that this “Glitch” effects tiny amount of traders. I disagree. All the traders with stop losses, are affected, because when the stop loss get hit during the freeze, you always get slippage.
That is how you stole from me.
Thank you Clint for putting co much into this thread. This post you made about your top recommended brokers was very helpful to reduce the amount of time sifting through 400 pages of this thread. If you or someone else doesn’t mind helping me a little further, I’m trying to find the answer to the legal question, tax implications ultimately, of a US resident trading with an off-shore broker? So far I havent’ found anything conclusive and perhaps this has already been answered in this huge thread.
So the question would be… Are there any problems with a trader claiming profits or losses, that anyone has experienced, from an off-shore broker when filing a tax return?
I would imagine this is truly where things would show in regards to the legal topic of US residents going off-shore. If there are any other legal problems, please let me know. Thanks!
I dug into the topic a little further and read Clint’s post #3522.
I think this may answer my question. However, if anyone has any personal experience and tax-related knowledge about the question I presented, I’d love to hear it. Thanks.
These posts were written as replies to questions from three different members, over the course of a year, so a lot of the material is repeated from one post to the next. I’m sure you’ll be able to boil it down.
Welcome to this thread, by the way.
Wow - you’ve posted 3 times in 9½ years. You’ve been busy!
Terrific - all of this covers exactly what I was hoping to find. Thanks again for the help. It amazes me how much info is here and furthermore, how much I see you’ve invested into the matter. I can’t help but wonder if there’s something you get out of all of this, being so helpful - or is all of this simply coming from the goodness of your heart?
Ha! Right - not too active on the forum front, but definitely involved with FOREX trading ever since I created that babypips account 9.5 yrs. ago. I’m one of those types of guys that sits on the sidelines and watches all the action, soaking it all in. As you mentioned in one of your posts, something to the effect of… there are lots of other people reading this thread who simply aren’t posting… I’m one of them.
I appreciate the welcome! Regardless of the motive behind your efforts, I enjoy any gesture of kindness, which is a quality that seems to be in short order these days. Fear, anger, and blame are crazy cheap and the public is buying it up in droves!!
Hello,this is my first post and I would like to share my experiences with all of you.I know it is suspicious but I will try to not praise anyone too much.
I tried following brokers out of the list : Tallinex,FxChoice and TradersWay.Here is what I have to say so far.
I tried all of the brokers on demo.I trade exclusively news and events,thus slippage and freezing is obviously a problem for me,but the one which I can not avoid.
First off I will start with Tallinex.A friend of mine uses them on live for ECN - Micro and I used them on demo for a while.I must say they are really reliable.They never freeze,they do not stop and go,no disconnects,fast support answers and all that,BUT…there is always a but.The spreads on ECN-Micro are huuuuuge.I have no idea why he stuck with them,it is just pain to pay those spreads.For ECN-Pro account (20000 USD deposit) the spreads are good and normal,and for all those with such amounts available to risk,I think Tallinex is great.
Next up is FXChoice.Nice broker,thin spreads,fast execution and timely news.Seems too good to be true for me.And it was.As soon as the “big news” like GDP data and CPI started hitting the whole platform literally froze.Usually the freeze would last anywhere between 5 and 30 seconds.Last time I traded the Eur/GBP on UK Services PMI when the platform froze for whole 9 minutes.That is when I decided that it is not good for my trading style.I checked on Tallinex terminal,and it was qouting the price just fine.
Now I am on Traders Way,hoping to have hit the gold.I notice that it does not provide MT4 news feed like other two,but I can live with it.Spreads seem acceptable.I will keep you updated.
[I]“Due to consistent pressure by over-reaching entities and repeated policy changes by banking institutions, Tallinex has concluded that it is no longer viable to continue offering services to residents of US and Canadian territories…”
[/I][I]"In order to accommodate that desire, Tallinex has identified a brokerage that is willing and able to provide the same excellent service and trading conditions that Tallinex has provided you up to now.[/I]
[I]That company is Capital City Markets - a regulated brokerage committed to providing the same high standard of service that you have grown accustomed to."
[/I]Ironic that I was sent to Tallinex when FinFx orphaned US clients a couple of years ago. I feel like a cheap bottle of wine.
Hi there Aaceofspades. I was just getting ready to post this information, but you beat me to it
I was also in the same boat as you. I had a live account with FinFx, and was then transitioned to Tallinex, and will now potentially be transferred over to Capital City Markets, whom I’ve never heard of. Here’s to hoping DoddFrank can get repealed soon, otherwise the few brokers that are left will likely continue to drop off one by one…
yep just got the email today, on march 31 there moving my account to https://capitalcitymarkets.com/, maybe clint and do some research on them and maybe they become a trusted broke because tallinex was very good to me and i trust this move so far lets see what happens when i try to withdraw my money
FxPatriot- I’ve never heard of Capital City Markets either. I don’t see them on Clint’s list and nothing on Google. Maybe Clint has some insight. I’d like to know how the CFTC applied pressure to dump us? My guess is through the banking system. Maybe Paul (Tallinex) will let us know? Is he still lurking here?
I’m not holding my breath on Dodd-Frank. I think Trump will be focused on Obamacare and Tax Reform this year. It might be a while. It would be a miracle to trade in the U.S. again. I remember the days when I would submit a withdrawal request to MB trading and get a check in the mail the next day. No delays and wire fees. We can dream.
Maybe CCM is a hastily setup broker to service the U.S. accounts? All I can do is speculate. For now, I’ll take my money and see what happens. I didn’t trade with Tallinex much during the last couple of years. Their spreads didn’t stay competitive.
I’ll also throw in a good word for Finpro here. Perhaps it’s time for them to be trusted based on the positive comments I’ve seen here lately, that I think are accurate.
I also just received the Tallinex email about moving to Capital City Markets. I didn’t have much left in my account. Not worth the wire fees. I will go with it and maybe even try out their credit card deposit method and report back.
P.S. - Thanks for keeping this thread going. In these days, this is the single best source of information and trader’s resource out there.
I have an inactive Tallinex account, due to their wide Forex spreads, but have decided to allow the account to transfer to CCM in Vanuatu, in the hopes there will be better Forex pricing.
I see they will have a minimum lot size of 0.10 with increments of 0.01 beyond that. This will enable me to do some evaluation on the Forex performance and feeds to report back here. I’ve also asked them where their back-end data centers are located.
