Going offshore to escape the CFTC

Regarding my Bid/Ask Spread information notation:

The Average value is rounded up or down to the nearest
integer PIPs. Then that number of # marks are appended .

int marks = (int)Math.round(spreadPacket.avg);
StringBuffer sb2 = new StringBuffer();
for(int i2=0; i2<marks; i2++) {
sb2.append("#"); // rough graphic
}
// then add sb2.toString() to the end of the line

hyperscalper

PRELIMINARY LMFX PERFORMANCE

Operations mediated by MT4 times from start to
finish of the Market Order submission.

C:\HyperScalper\apps\tt-live>cat tt.log | grep -i orderop
[20170718-07:14:42.197(GMT)] OrderOp elapsed: 157 (milliseconds)
[20170718-07:14:53.040(GMT)] OrderOp elapsed *: 249
[20170718-07:14:53.181(GMT)] OrderOp elapsed: 141
[20170718-16:41:57.872(GMT)] Sell Market OrderOp elapsed: 212
[20170718-16:43:38.372(GMT)] Sell Market OrderOp elapsed: 185
[20170718-16:50:04.387(GMT)] OrderOp elapsed *: 107
[20170718-16:50:28.590(GMT)] OrderOp elapsed *: 140
[20170718-16:52:12.559(GMT)] OrderOp elapsed *: 62
[20170718-16:59:33.965(GMT)] Sell Market OrderOp elapsed: 234
[20170718-16:59:59.669(GMT)] OrderOp elapsed: 208
[20170718-17:09:24.840(GMT)] OrderOp elapsed: 201

So these are “orderop times” I’m seeing initially with a “Zero Account”
variable spread plus commish account at LMFX. This server is
2.35 milliseconds from LMFX’s backend servers as reported by MT4.

What I like about this is consistency of Order response times. Although not the fastest turnaround times, they are good enough for our purposes.

The configuration uses a Java process, communicating with the NJ4X.com API framework into a “pool” of MT4 “terminal.exe” processes which are configured as 1 Market Data listener, and 4 Order Worker processes which are able to do concurrent processing into the same account. So it’s a bit complex.

It’s running on a seedvps.com 3 Xeon Core / 6 gb Windows Server 2008 tuned for best interprocess communication, etc… situated in Amsterdam. I’m using a “virtual limit order” mode where the system simulates a limit order, but strikes “counter trend” when the price “snaps” and stops running against us. It then strikes as quickly as possible with a Market order, on the “snap back” in price so that slippage works in our favor each time and so we get price advantage on nearly every entry.

hyperscalper

hyperscalper

Rearrangement of the first 7 posts in this thread

I have rearranged the posts that make up our List, at the beginning of this thread.

Here’s what you will now see, when you scroll through this thread beginning with post #1:

  • Post #1 – Group 1 - Brokers who will accept new U.S. clients (this post has not been moved or altered)

  • Post #2 – LINKS to other thread posts where the Group 1 brokers have been discussed (previously this was post #7)

  • Post #3 – Group 2 - Vetted brokers who do not accept U.S. clients (previously post #2)

  • Post #4 – the Alphabetical Broker List thru letter R (previously, this consisted of 2 posts: #3 and #4)

  • Post #5 – the rest of the Alphabetical List (S thru Z), plus the original first post in this thread (7 years ago) containing the “CFTC rant” (this post has not been moved or altered)

  • Post #6 and following – comments and discussion by thread participants


I hope these changes make the List easier to navigate.

Hello everyone!

I’d like to start with a huge thank you to all of the contributors to this thread. I’ve always been reading more than writing so I guess this will be my longest post ever :slight_smile:

I came few months ago here to get some help moving forward with a new broker. I’d like to share what the result of my visit here is and ‘contribute’ (in a way) to that thread as well.

After doing my research, I’ve decided to open an account with LQDFX and until now I don’t regret of doing so even for a second. It’s not that I’ve traded with them for long time (about 2 months or so), but from what I’ve seen and the service I get, there is nothing to complain about. The trading conditions are pretty attractive, spread is low, there are no restrictions on trading strategies and most importantly the execution is fast. From support point of view - great communication and issues small or big are solved immediately, they even went the extra mile once for me and reimbursed an amount that actually I should’ve paid for since it was my mistake, which I really appreciated big time. Overall, peaceful trading and great support when you need it.

I hope I’ve been helpful, will keep you updated as the time goes.

[quote=“BobW, post:4545, topic:35612, full:true”]

After doing my research, I’ve decided to open an account with LQDFX and until now I don’t regret of doing so even for a second.

… will keep you updated as the time goes.[/quote]

@BobW

Thanks, Bob. This is the kind of feedback we’re looking for, from all of our thread participants who trade live offshore.

Please keep us updated on your experiences with LQDFX.

I think it might be worth noting that Macedonia is not a member of the European Union and so not regulated by EU financial authorities, although it is a candidate country to join some day in the future. It is not what I would define as a stable state.

Might be worth keeping in mind when choosing a broker.

1 Like

Hello, Magnus.

You were the first person to reply to this thread, way back in 2010. And it’s good to have you here again. Thanks for joining the discussion.

Your points regarding Macedonia are well taken.

Most of the participants in this thread pay scant attention to the geopolitical environment in which our offshore brokers operate, choosing instead to focus on broker qualifications and regulatory conditions (where regulation exists). It’s an oversight on our part, and we should learn to be more diligent in our vetting.

In the specific case of LMFX (recently designated as a Trusted Broker), and Macedonia (the Balkan nation where LMFX resides and is domiciled), we’ve been especially remiss in not mentioning the potential geopolitical problems.

For everyone who recognizes the need to dig deeper into this, I would suggest this analysis from the CIA as a starting point —

https://www.cia.gov/library/publications/the-world-factbook/geos/mk.html

Scroll down just below the map, click on Open All, and start reading. On this website, the CIA generally doesn’t pull any punches.

Hi Clint,

I agree, the CIA Factbook is always very useful and sometimes more reliable than Wikipedia.

Let’s hope that some parts of the Dodd-Frank rules are rolled back under the new administration, freeing the retail traders os the US to trade CFDs. In the meanwhile you’re doing a giants job on this thread!

Clint,

RE: Evolve.Markets listing

Minimum lot size is 0.01
May also want to emphasize that the account is “native” BTC,
not just that BitCoin is accepted. This places Evolve.Markets
in the unique niche where crypto currency is the account
currency.

Thanks ever-so-much for maintaining and spearheading all
of this on behalf of the hapless U.S. persons :slight_smile:

hyperscalper

[quote=“HyperScalper, post:4550, topic:35612, full:true”]
Clint,

RE: Evolve.Markets listing

Minimum lot size is 0.01[/quote]

Thanks HS. I will edit the Evolve listing.

[quote=“HyperScalper, post:4550, topic:35612, full:true”]

May also want to emphasize that the account is “native” BTC,
not just that BitCoin is accepted. This places Evolve.Markets
in the unique niche where crypto currency is the account
currency.[/quote]

I tried to cover that by saying (at the top of the listing): – all accounts are denominated in bitcoin.

BITCOIN SEGWIT AUGUST 1 INFO :

Read this article:

Monitor live information on this page:

https://coin.dance/blocks

I am not an expert; just like most of y’all :slight_smile:

hyperscalper

[quote=“HyperScalper, post:4552, topic:35612, full:true”]

BITCOIN SEGWIT AUGUST 1 INFO :

Read this article …[/quote]

That article is excellent. Well written, and very readable. Thanks for posting it, HS.

It should be noted that the article was written a little over three months ago, at which time the SegWit acceptance level was 33.8%. As the deadline approaches (less than a week from now), there has been a surge in acceptance to the 97% (or higher) level.

It appears that this SegWit thing will happen.

If Bitcoin acceptance and volume continue to explode worldwide, one must wonder whether quadrupling the block-size in the blockchain will prove to be a long-term solution. I’m no expert, and I’m not a coder, but I wondered, when first reading about SegWit, Why not a ten-fold increase in the block-size?



For anyone who wants to “watch” Bitcoin traffic in real time, this site is pretty cool –

http://fiatleak.com/

A couple of nights ago, I let this map run for an hour (from 3am to 4am, EDT), to see which currencies were being converted to Bitcoin. The results were surprising.

Major volume seemed to come out of the USD and the CNY, with lesser volume from ZAR, RUB, BRL, and EUR. The USD volume didn’t surprise me, but the rest of it did. I would have expected volume worldwide to be roughly in proportion to the foreign exchange turnover of world currencies as reported by the Bank for International Settlements (BIS): that is, USD, EUR, JPY, GBP, AUD, CAD, CHF, etc.

COINBASE COMMUNICATION RE: BITCOIN CASH AND AUGUST 1 EVENT

Dear Coinbase Customer,

We wanted to provide an update on proposed changes to the Bitcoin network and what that means for bitcoin stored on Coinbase. You can read more about what a digital currency fork is https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1.

Our first priority is the safety of customer funds. In the event of a fork, customer fiat currency (USD, EUR and GBP) and digital currencies (bitcoin, ether and litecoin) are safe.

On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, is likely to create a fork in the Bitcoin network. This means that after August 1st, 2017 there are likely to be two versions of the Bitcoin blockchain and two separate digital currencies.

In the event of two separate blockchains after August 1, 2017 we will only support one version. We have no plans to support the Bitcoin Cash fork. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value.

This means if there are two separate digital currencies – bitcoin (BTC) and bitcoin cash (BCC) – customers with Bitcoin stored on Coinbase will only have access to the current version of bitcoin we support (BTC). Customers will not have access to, or be able to withdraw, bitcoin cash (BCC).

Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.

We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network. This means your funds will be safe but you will be unable to access your bitcoin (BTC) for a short period of time.

We will keep you updated on this event through our blog, status page and Twitter.

Thank you,

Coinbase Team

hyperscalper

BITCOIN EXPLAINED IN MORE DETAIL

Enjoy!
hyperscalper

VISUAL DEMONSTRATION OF BITCOIN-LIKE BLOCK LINKAGES

Enjoy!

hyperscalper

Received this email from Trader’s Way:

EVOLVE.MARKETS STATEMENT

Dear Traders,

On August 1st 12:20 pm UTC there is a scheduled minority attempt to hard fork the Bitcoin blockchain to create a new altcoin called ‘Bitcoin Cash’. Evolve Markets does not support the split or distribution of any altcoin forked from the Bitcoin network. Bitcoin Cash is not the first fork of the Bitcoin blockchain (Stellar Lumens, Byteball) and most likely will not be the last.

Customers who wish to have access to the forked altcoin ‘Bitcoin Cash’ should withdraw from their Evolve Markets trading account by Augst 1st 00:00 UTC at which time we will temporarily suspended withdrawls until network turbulance from the hardfork has past.

All BTC and related cryptocurrency trading on the platform will remain unaffected. As the security of client funds is our number one concern, all BTC on deposit will be safe during these events and kept in offline cold storage. Please note that in the event that the hard fork is successful, Bitcoin Cash will not be accepted for deposits and Evolve Markets will not be liable for any Bitcoin Cash sent.

Kind Regards,
Evolve Markets

Enjoy !
hyperscalper

Hello, anyone heard about rally trade? Are they reliable brokers?

COINBASE STATEMENT ANNOUNCING SUPPORT FOR BITCOIN CASH

Dear Coinbase customer,

We wanted to give our customers an update on the recent Bitcoin hard fork. You can read more about what a digital currency fork is here:

Forks enable innovation and improvements to digital currency and we believe that we will see an increasing number of forks in the future. We expect this to be a vibrant and innovative community.

When a digital currency forks, it creates a new digital asset. Adding new digital assets to Coinbase must be approached with caution. Not every asset is immediately safe to add to Coinbase from a technical stability, security, or compliance point of view.

Our top priority is the safety of customer funds and we spend extensive time designing, building, testing and auditing our systems to ensure that the digital asset we support remains safe and secure. We may not always be first in adding an asset, but if we do, you can be sure that we’ve invested significant time and care into supporting it securely. We believe this is the best approach for us to maintain customer trust.

In the case of bitcoin cash, we made clear to our customers that we did not feel we could safely support it on the day it was launched. For customers who wanted immediate access to their bitcoin cash, we advised them to withdraw their bitcoin from the Coinbase platform. However, there are several points we want to make clear for our customers:

Both bitcoin and bitcoin cash remain safely stored on Coinbase.

Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase.

We operate by the general principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events.

Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.

We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.

Once supported, customers will be able to withdraw bitcoin cash. We’ll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase.

Thank you,

Coinbase Team

hyperscalper

Ehhhh!!!These tradersway responses are looking too “promotionally” suspect.I wanted to believe but somethings off every where i look.