It is normal. They are making sure that you are the owner of the card. When you upload the card you make sure that only the last four digits are visible. This will keep your card private and will prove to them that you are not using someone else’s card.
tallinex does that and now capital city markets require you show picture of you holding the card
Thanks for the replies, yea i did it and they finalized my initial deposit so no worries so far. I will let everyone know how this broker performs in my personal opinion.
I spoke with all the brokers from the A list to see who all accept BitCoins.
Here is what I found
[B]FinPro Trading[/B] : BitCoins Accepted as a payment method. Their client support says that a much more integrated solutions is coming out shortly. Will look forward to see their “Integrated Solution” when it is released.
[B]FX Glory[/B] : they use OkPay method (While making a deposit client must choose Okpay and after clicking on it sub methods will appear.). It is not more advantageous than just having an OKPay account.
[B]FXChoice[/B] : BitCoins Accepted as a payment method.
[B]Adamant Finance[/B]: BitCoins Accepted as a payment method.
[B]LQDFX[/B]: Yes. BUT For Bitcoin, you will be provided with their Bitcoin address to which you will deposit your funds that are then transferred to your trading account. Very basic set-up.
So far, its a good progress to see that 5 out of 13 odd brokers we have on the “A List” accept bitcoins. But I dont really see them using the true potential of BitCoins. Ideally, if these brokers get “Truly Integrasted” they can extend the ability to send / receive / buy bitcoins as well as fund the trading account with BitCoins.
Its great to see that there is healthy progress and these brokers are accpeting bitcoins.
Anyone else out there with experience in actually using BitCoins as a transaction method with these brokers.
Tradersway accepts BTC as deposits and withdrawals.
There’s also SimpleFX as well, the spreads are a bit high tho. However they do let you trade in the native BTC currency as well trade BTC.
Thanks for the update.
But trading with BTC as your account denominated currency would be a disaster. Assume that you are using 100% of margin on your account and BTC fluctuates by 10% (which is normal). There are a few brokers for example whaleclub who only give you a BTC denominated account which means that your account is subjected to BTC volatility.
Given the characterstics of BitCoins, it will be the future of offshore forex trading (with total safety from CFTC). We need to have some decent brokers who support bitcoin wallets within their ecosystem. My search is still on 
Any inputs readers ?
Yeah I wouldn’t want to trade FX in the native BTC currency either, but some do. 1broker.com has created a bit of a niche for themselves as well as simplefx. It’s just the spreads are higher then a cats a$$ lol.
Actually, the spreads at SimpleFx are very fair on the Forex pairs. Better than Tallinex and many others.
@whywescalp – Thanks for researching this.
I will add a [B]Bitcoin logo[/B] to the Group 1 Brokers that accept Bitcoin (when I get a Round Tuit).
@Cryptosurf – thanks for adding Trader’s Way to the Bitcoin list.
.
Hello Guys thanks for your great insight, my question is this…
I have recently started an account with Finprotrading and have enjoyed their service, so far I deposits a few hundred through coin base and money was in my account in 20 mins. Spreads have consistently been very low and the customer service has been spot on.
With that being said I’m not here to totally sing their praises but more ask your opinion,
I believe I’m ready to deposit a few thousand with them, but my concern was the fact that they
just made that list from a few posts back (RED LIST) and wasn’t sure what the implications would be for current clients. Not sure if i shouldn’t worry or if i should go with someone else, I’m all ears.
Has anyone else had a good experience with Finpro trading on a larger scale that could give me your honest opinion (and are they considered a trusted broker at this point clint?) I haven’t experienced withdrawals yet so i was wondering if anyone could vouch for them with withdrawals.
Right now I’m just looking for which broker I should trust with a larger percentage of my trading fund being that I have an account with Traders way as well and just want to hear from you guys before I deposited it to either.
Lastly is there any reason i should be hesitant to wire the money as compared to other means of transferring funds.
All-in-All just looking for someone to weigh in on finprotrading in-depth for me, and give me some perspective on the ideology when it comes to deposits.
Hello, idw5021
As you have correctly noted, [B]FinproTrading[/B] was recently added to the CFTC RED List. And your concern about what this might mean going forward is understandable. In my view, the RED List is worthless bluster on the part of the CFTC, and I think you can safely ignore it. More on that in a moment.
You mentioned having an account with [B]Trader’s Way.[/B] What you may not know is that Trader’s Way has been on the CFTC’s RED List since August 2015. And yet, in the 20 months since Trader’s Way [I]made[/I] the RED List, they have remained out of the CFTC’s reach, and we continue to consider Trader’s Way a TRUSTED BROKER.
My recent POST showed the latest additions to the RED List, but did not show the entire list.
Here’s a LINK to the entire CFTC RED List.
Find the box that says “Show 25 entries”, and change it to “Show All entries”.
Returning to my comment above that the RED List is CFTC bluster, this RANT was posted shortly after the CFTC released their original RED List in September 2015. I stand by the comments in that rant.
You asked whether FinproTrading is a trusted broker. In my opinion, they have proven their trustworthiness, and deserve the TRUSTED BROKER designation. But, I’m waiting for a consensus to form in this thread regarding FinproTrading, before applying the label to them.
Welcome to this forum, by the way!
And thanks for your contribution to this thread.
.
It really does not make any difference. If you see that so called “RED List” has brokers on it, that were added to red list a couple of years ago and are still operating normally. I personally wouldn’t read much into it
If the bank that you are sending money to if based in a major country and its a tier 1 bank then you really dont need much to worry about. If the broker is asking you to send money in Syria (for example) to a bank like AZBZCZ Bank then there is a problem.
Typically, based on my experience, it will be an inbetween situation, where either you are sending money to a tier-2 bank in a EU country or to a Tier-1 Bank in “Safe Haven” Islands or some sort of a combination of it.
Its really a catch 22 situation, if you think about it. We need an offshore broker BUT an Onshore bank (preferably a tier 1 bank). Which is almost a rare thing and if it is, it wont last for very long for all the obvious reasons. In a way we want an offshore broker to act and operate like a regulated broker but still be able to circumvent the rules of leverage and give us the cost advantage (read spread) that can make Oanda’s of the world wonder.
Think about this:
Even Lehman went broke, worse was MAN Financial, MF Global. Tier-1 onshore brokers with global presence, rated AAA (atleast during the good times) and went bankrupt because their management decided to do things that were not within the authorised activity.
To make things worse, technically speaking even your Fixed Deposits (or CD’s) are risky and subject you to the credit risk of the issuing institution. And think about treasuries, they get called soverign risk.
As per CAPM (capital asset pricing model), US treasuries are considered risk free and all the calculations for risk premia are based on it. US defaulted on its obligations in Aug- 2010 (my dates might be a little off) because of the debt ceiling, so even soverign risk isnt “Risk free”. Some call this black swan event, some call it tail risk while others just call it Risk.
Sorry for all my the emotions flowing over Risk and subject of risk. I think we are traders and our goal is to take risk so we can beat inflation in the long run and can make some money on our portfolio.
Technically, diversification is the key. Weather you are investing or choosing a broker or putting your money in the bank. Dont stick with Just one Broker. Diversify. These days you can easily get EA’s that will copy your trades realtime on multiple MT4 account, so whatever you trade on one broker will automatically get copied on another broker, so there is really not much disadvantage in diversifying. I would not keep all my money at one broker. However, I will still STICK with Clint’s A list because it has over 6 years of research into it and more than a few thousand comments contributing to the crux of the analysis.
On a lighter note, happy trading
Thanks guys part of my concern was just trying to get info on them and running across people saying they got robbed and shot/ stabbed and everything else.
part of you starts to get sketched out but at the same time you try not to paint with a wide brush when it comes to bad feedback.
its either that or fall prey to the EVIL horde and their 1:50 leverage rules and 4 pip spreads haha
gotta stay in the fight like my guy clint says would say!
guess i gotta learn to be comfortable with the unregulated’s
I’ve been trading with Tradersway for the past couple of years and haven’t had any issues with them at all. Deposits and withdrawals have all been seemless and top notch support.
I’ve also had an account with FXChoice for Ngas, Oil and Gold, which I dropped due to poor support and to many oddities on their feeds.
I switched to Finpro and so far very impressed with heir support and feeds. Margin requirements for commodities are awesome and spreads are tight.
Thanks for researching whywescalp!
Thanks Clint for adding bitcoins to the broker list. :35:
i got this infor from forexpeacearmy about finpro Finpro Trading | Forex Brokers Reviews | Forex Peace Army
Hello All,
I am Michael from United States and have been looking on this thread for long. I really appreciate all the efforts Clint and everybody is putting up to enlighten people. I want to open up a corporate account with a few 100 thousands. My friend who is a fund manager will be managing the funds on my behalf. Basically his strategy works only with a good leverage like 200x and he will be employing a lot of EAs triggering large number of trades. So I am looking for a broker offering corporate account with good leverage and phenomenal execution speed and maybe I will be getting an API too for that but that’s not much of a priority for now. There are many good brokers listed in A list of brokers by Clint but I am bit confused who to choose as I will be opening a corporate account with a big fund size. I can see active conversation going on about good offshore brokers but my very first question is that is it really that simple to open up a corporate account as well just like you can open up an individual account with any offshore broker meeting all your trading requirements. As you need to comply with more formalities in case of corporate account. It will be really helpful if someone can guide me over this and help me choosing the best broker.
Cheers!
Michael
You might have a large enough deposit to work out a special deal. When all my accounts were being closed, I would ask each brokerage what I could do to continue trading with them. The answer was to set up an account totaling millions.
If your account size is large enough, brokers might be inclined to do all the accounting and fill out all the paperwork required of them to do business with a US citizen.
With an account int the hundreds of thousands, you [I]might[/I] be able to set up an account in the EU, for example. I’m an individual trader with less funds than this, so have not researched any further into it. Good luck!
IMO If you have that much to invest then you’re better off going straight to currency futures, with either AMPFutures or Stage5trading
For the “Pro” accounts MT4 ECN at FXChoice, meaning
that commission is not included within the variable spread, here
is a quick analysis of their pricing for the Forex pairs.
This data is about 2pm EDT in the U.S. so markets are
quiet, and one would expect wider spreads. The pricing
is very good.
As for execution times, I’ll post something on that later, but
I have observed fairly quick execution so far.
hyperscalper
symbol min , avg , max spread pips
AUDCAD, 1.2 , 1.5 , 1.8 ##
AUDCHF, 1.5 , 1.7 , 1.9 ##
AUDJPY, 1.5 , 1.7 , 1.9 ##
AUDNZD, 1.3 , 1.6 , 1.8 ##
AUDUSD, 0.9 , 1.1 , 1.3 #
CADCHF, 1.4 , 1.6 , 1.8 ##
CADJPY, 1.6 , 1.7 , 1.8 ##
CHFJPY, 1.1 , 1.4 , 1.6 #
EURAUD, 1.8 , 2.1 , 2.4 ##
EURCAD, 0.8 , 1.2 , 1.6 #
EURCHF, 0.7 , 1.0 , 1.2 #
EURGBP, 0.6 , 0.8 , 1.0 #
EURJPY, 0.8 , 0.9 , 1.0 #
EURNZD, 1.7 , 2.2 , 2.6 ##
EURUSD, 0.5 , 0.5 , 0.7 #
GBPAUD, 1.2 , 2.0 , 2.6 ##
GBPCAD, 1.8 , 2.3 , 3.0 ##
GBPCHF, 1.1 , 1.5 , 1.9 #
GBPJPY, 1.3 , 1.6 , 1.8 ##
GBPNZD, 1.7 , 2.8 , 3.6 ###
GBPUSD, 0.6 , 0.9 , 1.0 #
NZDCAD, 3.1 , 3.4 , 3.8 ###
NZDCHF, 3.7 , 3.8 , 3.9 ####
NZDJPY, 3.2 , 3.3 , 3.5 ###
NZDUSD, 1.7 , 1.8 , 2.0 ##
USDCAD, 0.8 , 1.1 , 1.3 #
USDCHF, 0.6 , 0.8 , 1.0 #
USDJPY, 0.6 , 0.8 , 1.0 #