Thanks to group members caffelatte, Wolfe Trader, ob165, coolwata34, JamieHouston, Alpha_John_12, and SmallPaul for your participation in the discussion of these brokers.
Withdrawals have been pretty much instant for me. Spreads are tight and consistent. As for adding them to the thread list, you have my vote @Clint, Veterans @SmallPaul can also test and give their feedback.
I requested a withdraw of 4K from TradersWay yesterday. Got it today, 25 hours later.
Much slower than Coinexx, but much better in cost because 4000 USD turned into 3999.50 USDC, despite gas fees were 3x that difference.
Coinexx is ripping off in withdraws with the excuse of gas fees and conversion USD->USDC/USDT.
There are lots of people I used to work with here. I’ve also worked out who my old marketing company’s new brokers are. For more info on who I am check out this thread:
After this post I got a call from the head of support (can’t remember the exact title) of Coinexx, not sure if it was a coincidence or not.
It was a nice chat. He told me that:
Regarding my claim about the 45 minutes in past withdraws, despite they say Real-time withdraws, he said they changed procedures and changed third part and now they’re doing it in up to 15 minutes. According to him, there is always a manual component of approval in withdraws to avoid compromised accounts being stolen or wrong crypto addresses from being used.
It would be nice if someone can confirm this 15 minutes thing. I’m not planning any withdraw in the next weeks.
Regarding my claims about being charged to much in past withdraws (in the last one I withdrew 2000 USD and only got 1987 USDC, despite the gas fee was only 1.9 USD) he said that they changed to a cheaper crypto processor and are also absorbing most of the costs. From now on we are expected to receive a much closer amount that we withdraw. Can’t be 100% exact because gas fees fluctuate, but it should be very close.
Let’s see how close it will be.
For the sake of transparency, he also reimbursed me 30 USD for those past differences. Last time I didn’t even care in filling a claim because in the previous one I got tired and frustrated with support. They didn’t even understand what a self custody address was and kept saying that what I lost was due to exchanges like Binance and so on, when no exchange was involved. Anyway, he said they were going to train people to understand what self custody means and and reimbursed me those 30 USD. This was their initiative. I didn’t ask anything.
I have no affiliation or any kind of relation whatsoever with Coinexx. This is, plain and factually, what we discussed in the call. I’m even surprised of getting this call (it was not the first one - they called me after another problem I reported here some months ago) because I have a tiny account and discrepancy was insignificant. Anyway, it’s nice they’re listening/reading the topic.
I believe the account TraderO to be disingenuous. Reasons for believing so:
Started account in Oct 28th 2019, spent a year or so sporadically posting ‘unbranded posts’, (when we started with RSM we were first told to open an account and sit on it until a finally asked to start ‘branded’ posts).
Branded posts start on Feb 14th 2020.
Only posts on the ‘Forex Brokers’ section and the ‘Going offshore to escape the CFTC’ thread, (there are a handful of instances that they don’t).
When instances of negativity towards a broker they recommend another broker, (both brokers are owned by the same person).
Never mentioned why they have moved to a new broker, always flip-flopping between them.
[Disclaimer: I can’t know for certain if a user is genuine or not, so please don’t engage with them negatively. I can, however, draw upon my experience as a ‘soft marketer’ for a company that targeted forums with fake ‘branded’ posts and reviews. This is not a review of the broker.]