maybe the regulators know hurting crypto transfers will put a serious dent in offshore brokers that except U.S. Traders
Sorry if you can’t understand
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for people who don’t know the coinbase crypto-visa debit card is now available for US. residents. i would be getting one in the mail in a few days
You can use your Coinbase Card virtually anywhere Visa® debit cards are accepted. Just open the Coinbase app and tap on the Coinbase Card image to see your card information.
Select which crypto you want to spend and which crypto you want to earn. Not sure which crypto to spend? USD Coin might be a good place to start — it’s always worth $1 and there’s no fees when spending it.
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Varied from a few hours to around half a day for me. The broker themselves processed it in about the same time but depended on the blockchain speed.
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I think most offshore brokers rely on Bitcoin transfers
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True and I think with time we will see them accept other cryptos as payments too, especially stablecoins.
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I can definitely see this happening.
check out this email i got from Kraken
The Senate is about to vote on a bill that could kill crypto
Hi James,
The U.S. Senate is beginning its final deliberations on a “must-pass” bipartisan infrastructure bill. However you feel about the bill, a few senators have included language having nothing to do with infrastructure – and this language could crush the crypto industry. If passed and signed into law, this bill would dramatically expand U.S. government surveillance over the entire crypto ecosystem.
Fortunately, Senators Wyden, Toomey and Lummis have introduced amendments that would fix the language and clarify that the expansion of the definition of a “broker” doesn’t apply to open source software developers or validators like miners or stakers.
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Anyone here trading Treasuries, Gilts, Bunds, JGB’s, etc? I feel like I’m missing out on some good volatility, but none of the brokers I use offer any bond trading. Thanks in advance if you know of one that does. FXChoice used to, but I just checked and nothing is listed.
I trade 90d eurodollars, 2 & 10-year note futures @ AMP futures… if you’re in the US and you want to trade sovereign debt futures… your best bet is probably Interactive brokers, however their TSW platform is god awful.
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I’m highly concerned about this 10,000 dollar IRS reporting part for crypto in the infrastructure bill, it smacks of facta. CFDs not as vulnerable as DeFi, but not clear all the same.
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They Coming
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They coming alright…
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FTMO Just sent me this email
Dear James,
We hope you are having a good time this summer and that your trading goes in the right direction.
We are working around the clock to bring you the best proprietary trading conditions and we would like to invite you once again to join us and continue trading with us to enjoy all the new functions and possibilities FTMO offers. We are thrilled to announce that we have improved some features of the FTMO products and, among other things, added a new FTMO Challenge Swing. You should definitely check that out: Swing Account Type and New Free Trials - FTMO®
If you log in to your FTMO Client Area you will find that we are now operating under a new business entity called FTMO Evaluation Global / FTMO Evaluation US and in this connection, we would like to kindly ask you to confirm new Terms and Conditions. However, except for the company name and the legal stuff, we are not only the same as you are used to, but improved and with new features.
We can’t wait to see you trading with us soon.
In case you feel that you don’t want to continue with us, please just let us know by replying to this email and we will delete your account. If you change your mind in the future and we hope you do, just register again.
Looking forward to seeing you back soon!
FTMO team
Some of the traders here comment that they often to frequently withdraw profits, complaining if the withdrawal takes over a day to complete. The more money left in their accounts, though, the more money they can make trading. So it does not make sense to me why they make so many withdrawals UNLESS they have so much money in their accounts, like well above $950,000, that the brokerages require that they be contacted to be given approval to make large trades. Calling or contacting the brokers takes up valuable time which can cause a good trade to vanish in fast moving markets. So maybe these frequently withdrawing traders, if they have really large accounts, to avoid having to call their brokers in advance of large trades, just make smaller trades, but if they just let the profits grow the accounts instead of withdrawing them, soon the account will be so large that far fewer withdrawals will be needed. Since these traders probably do not have $950,000 in their accounts, I keep wondering why they make so many withdrawals. Several trusted brokers here told me that for extremely large trades they want to be contacted before they allow a large trade to go through.
Simply put, different traders may have different needs and/or circumstances. Some traders here may just trade casually or as a side-hustle, for example.
Typically, traders with larger accounts/earnings will not need to take out profits so regularly, unless they are doing so to mitigate risk and/or to reinvest etc…
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i don’t understand what you guys talking about, if a trader have a 100k account and decide he/she want to take out anything over 100k in profit on a weekly basis, what’s the problem. when and why a trader withdraws his profit should not be anybody concern.
not trying to be a-hole, but why or when another trader withdraws their profits have never crossed my mind, it’s their money
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not promoting this guy and don’t encourage anybody to buy what he’s selling, but should I be concerned about why he withdraws his money
($100k withdrawal ). PMG day in the life: Episode 5
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1st… I use variable stops that can get as low as 5 pips. With my risk per trade, after about 100K my system is pretty much maxed out ticket size wise. Without Level 2 + time of sales data, I simply would not feel comfortable trading larger ticket sizes via smaller retail brokers… so anything >100K in the account would just be sitting there, I couldn’t use it anyway.
2nd… I had accounts with Refco, Man Financial/MF Global & PFG Best which all collapsed without notice… It’s not likely but brokers can disappear at any moment. I prefer my cash 100% in my control as fast as possible.
3rd… There are minimal costs transferring via crypto compared to wire transfers with broker + intermediary corresponding bank fees.
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