Going offshore to escape the CFTC

[sknight1]

You’d be surprised at what people will do.

[Clint]

Here's a copy of an email I sent to CCM a few minutes ago --

---

[MarcinFX]

We have few accounts with TW. We did not notice and delays. We use VPS from amsterdam recommended by HyperScalper with aprox 2ms ping.

[Martin22]

Thank you Clint. Much appreciated due diligence .

[SmartFoxFx]

VPS might give some improvements. What about without VPS? try some TW trades, I talked to many of my friends who has account with TW, they confirmed the delay on executing trades, that too way too much in closing trades.

[HyperScalper]

Many brokers, especially TradersWay, are dedicated to Customer Satisfaction
because, as it was explained to me, "we want to keep our jobs". So they have
an interest in Client Satisfaction.

With regard to TradersWay execution delays, going back a year or more,
I was seeing 800 millisecond execution times average. I queried their
management, and they were able to provide me with <250 millisecond
average executions.

I'd suggest you look into that. A MetaTrader broker can go through what is
called an "Aggregator". In effect, that delays incoming requests, and tries
to consolidate smaller volumes into larger orders, before passing the
request along to Liquidity Providers. The Aggregator, on a per-account
basis, can be bypassed through Broker server side configuration.

Don't be asking for such an accommodation unless your work is truly
performance critical. IF YOU JUST ASK, YOU MIGHT GET, as they say !!

hyperscalper

[HyperScalper]

See my reply further down, concerning TradersWay
performance improvement.

hyperscalper

[HyperScalper]

I haven't used TW Live for a while, since been working on FinProTrading,
but I decided to fire it up and do some very small Live Market Orders with
immediate closure.

Here is what I saw in Milliseconds Latencies for EUR/USD
executions with Market Orders MT4 Lot Size 0.01
C:\HyperScalper\apps\tt-twbrent>echo "log file is tt.log"
"log file is tt.log"

[EDIT] The following is a linux tail command, which is provided
if you install the Cygwin package (32-bits is fine) onto your Windows 64
server box. Because we use MT4 we need 32-bit Windows compatibility
so anyway... I like being able to mix Windows and Linux like
this:

C:\HyperScalper\apps\tt-twbrent>tail -f tt.log | grep -i orderop
[20171024-16:59:32.177(GMT)] Buy Market OrderOp elapsed: 314
[20171024-16:59:36.052(GMT)] OrderOp elapsed: 292 <-- close position...
[20171024-16:59:40.568(GMT)] Buy Market OrderOp elapsed: 532
[20171024-16:59:43.396(GMT)] OrderOp elapsed: 486
[20171024-16:59:47.989(GMT)] Sell Market OrderOp elapsed: 279
[20171024-16:59:50.599(GMT)] OrderOp elapsed: 343
[20171024-16:59:50.693(GMT)] OrderOp elapsed: 120
[20171024-16:59:54.489(GMT)] Sell Market OrderOp elapsed: 341
[20171024-16:59:57.880(GMT)] OrderOp elapsed: 327

THESE TIMES ARE SLOWER THAN I'D WANT, SO I WOULD
CONTACT THEM CONCERNING THE LATENCIES BUT, BY
NORMAL STANDARDS THEY ARE NOT THAT BAD... ALSO
CONSISTENCY IN GENERAL IS A BIG FACTOR.

The times are measured from the start of the Market Order
request until the return. We have parallel MT4 terminal.exe
processes so, while one of these is in execution, several others
can also execute at the same time (multi-threaded) overlapping concurrently.
In this case, with single orders, that benefit doesn't show up.

C:\HyperScalper\apps\tt-twbrent>

Here's my SeedVPS with 6 Xeon CPUs which is a couple
in Amsterdam a couple of milliseconds from TradersWay's backend.

OS Name Microsoft Windows Server 2008 R2 Datacenter
Version 6.1.7601 Service Pack 1 Build 7601
Other OS Description Not Available
OS Manufacturer Microsoft Corporation
System Manufacturer Red Hat
System Model KVM
System Type x64-based PC
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
Processor Intel(R) Xeon(R) CPU E5-2640 v4 @ 2.40GHz, 2397 Mhz, 1 Core(s), 1 Logical Processor(s)
BIOS Version/Date Seabios 0.5.1, 1/1/2007
SMBIOS Version 2.4
Windows Directory C:\Windows
System Directory C:\Windows\system32
Boot Device \Device\HarddiskVolume1
Locale United States
Hardware Abstraction Layer Version = "6.1.7601.17514"
User Name Not Available
Time Zone Coordinated Universal Time
Installed Physical Memory (RAM) 8.00 GB
Total Physical Memory 8.00 GB
Available Physical Memory 4.43 GB
Total Virtual Memory 24.0 GB
Available Virtual Memory 19.4 GB
Page File Space 16.0 GB
Page File C:\pagefile.sys

hyperscalper

[HyperScalper]

Currently measured TradersWay Forex Bid/Ask spreads:

symbol min , avg , max spread pips
AUDCAD, 0.7 , 0.8 , 1.0 #
AUDCHF, 0.3 , 0.4 , 0.6
AUDJPY, 0.5 , 0.6 , 0.8 #
AUDNZD, 0.6 , 1.0 , 1.2 #
AUDUSD, 0.3 , 0.5 , 0.6
CADCHF, 0.6 , 0.8 , 0.9 #
CADJPY, 0.3 , 0.5 , 0.7 #
CHFJPY, 0.8 , 1.0 , 1.1 #
EURAUD, 0.2 , 0.5 , 0.8
EURCAD, 0.5 , 0.7 , 0.9 #
EURCHF, 0.4 , 0.6 , 0.8 #
EURGBP, 0.6 , 0.7 , 0.8 #
EURJPY, 0.3 , 0.4 , 0.6
EURNZD, 0.9 , 1.3 , 1.5 #
EURUSD, 0.1 , 0.3 , 0.4
GBPAUD, 0.9 , 1.1 , 1.4 #
GBPCAD, 1.0 , 1.2 , 1.5 #
GBPCHF, 0.6 , 0.9 , 1.1 #
GBPJPY, 0.5 , 0.7 , 1.0 #
GBPNZD, 1.9 , 2.4 , 2.7 ##
GBPUSD, 0.6 , 0.8 , 0.9 #
NZDCAD, 0.9 , 1.0 , 1.1 #
NZDCHF, 0.8 , 0.9 , 1.0 #
NZDJPY, 0.4 , 0.7 , 0.9 #
NZDUSD, 0.3 , 0.5 , 0.7
USDCAD, 0.4 , 0.6 , 0.7 #
USDCHF, 0.3 , 0.5 , 0.6
USDJPY, 0.5 , 0.6 , 0.7 #

hyperscalper

[HyperScalper]

One of the challenges in trading the 24 hour Forex cycle is the
Asian session and "rollover" times. Below see the Bid/Ask
Spreads of TradersWay and FinProTrading by comparison.

Comparison of two brokers' spreads (in PIPs)
at 21.36 GMT today (shortly after typical Rollover
which is 21.00). Our BOTs need to regard these
times as "undesirable" or "untradable" for certain
strategy types.

Tradersway and FinProTrading (further down)

TradersWay
symbol min , avg , max spread pips
AUDCAD, 2.7 , 3.5 , 4.7 ###
AUDCHF, 4.6 , 5.8 , 6.6 ######
AUDJPY, 2.7 , 4.1 , 4.8 ####
AUDNZD, 2.8 , 3.9 , 5.3 ####
AUDUSD, 1.2 , 2.0 , 2.9 ##
CADCHF, 3.0 , 3.7 , 4.6 ####
CADJPY, 1.8 , 2.2 , 2.6 ##
CHFJPY, 4.1 , 4.8 , 5.8 #####
EURAUD, 5.1 , 7.0 , 9.6 #######
EURCAD, 2.2 , 2.9 , 3.5 ###
EURCHF, 1.8 , 3.3 , 4.1 ###
EURGBP, 4.4 , 5.1 , 5.7 #####
EURJPY, 1.8 , 2.6 , 3.2 ###
EURNZD, 5.8 , 6.9 , 8.6 #######
EURUSD, 0.4 , 0.8 , 1.5 #
GBPAUD, 13.1 , 15.3 , 17.7 ###############
GBPCAD, 9.2 , 10.7 , 14.1 ###########
GBPCHF, 10.2 , 12.8 , 14.0 #############
GBPJPY, 7.4 , 9.3 , 10.4 #########
GBPNZD, 14.2 , 21.3 , 25.8 #####################
GBPUSD, 5.0 , 7.8 , 10.1 ########
NZDCAD, 3.4 , 4.2 , 4.6 ####
NZDCHF, 3.6 , 5.1 , 6.1 #####
NZDJPY, 3.0 , 3.3 , 3.7 ###
NZDUSD, 1.6 , 2.1 , 2.7 ##
USDCAD, 1.7 , 1.9 , 2.1 ##
USDCHF, 2.0 , 2.8 , 3.3 ###
USDJPY, 1.2 , 1.5 , 1.9 ##

FinProTrading (TurnkeyFX Live)
symbol min , avg , max spread pips
AUDCAD, 3.1 , 4.2 , 6.4 ####
AUDCHF, 5.1 , 5.8 , 6.6 ######
AUDJPY, 2.0 , 2.7 , 4.7 ###
AUDNZD, 2.9 , 3.6 , 7.2 ####
AUDUSD, 1.3 , 2.4 , 5.1 ##
CADCHF, 3.2 , 4.2 , 5.4 ####
CADJPY, 1.8 , 2.0 , 2.5 ##
CHFJPY, 4.7 , 5.5 , 6.2 ######
EURAUD, 4.4 , 4.7 , 6.4 #####
EURCAD, 3.3 , 3.7 , 4.3 ####
EURCHF, 4.0 , 5.7 , 7.9 ######
EURGBP, 5.4 , 6.7 , 8.2 #######
EURJPY, 2.2 , 2.5 , 3.1 ###
EURNZD, 7.0 , 9.2 , 12.7 #########
EURUSD, 1.2 , 1.7 , 2.4 ##
GBPAUD, 14.8 , 17.9 , 25.4 ##################
GBPCAD, 12.2 , 14.5 , 16.3 ###############
GBPCHF, 13.2 , 16.0 , 20.4 ################
GBPJPY, 6.9 , 11.0 , 12.7 ###########
GBPNZD, 17.2 , 23.0 , 25.4 #######################
GBPUSD, 7.0 , 8.6 , 9.4 #########
NZDCAD, 3.6 , 4.6 , 6.6 #####
NZDCHF, 3.8 , 5.0 , 6.8 #####
NZDJPY, 2.9 , 3.2 , 5.3 ###
NZDUSD, 1.7 , 2.2 , 2.7 ##
USDCAD, 1.7 , 2.0 , 2.4 ##
USDCHF, 3.9 , 4.7 , 7.5 #####
USDJPY, 1.0 , 1.1 , 1.5 #

hyperscalper

[Clint]

I have received a lengthy email reply from Capital City Markets, which basically refutes all of the charges I made in my email to them. (Scroll back to post #4511 to re-read my email to CCM.)

For now, I'm holding off posting a copy of the CCM reply in this thread, until I hear more from those of you who have been impacted by the CCM deposit fiasco.

The CCM reply makes it clear that they want me to be convinced that they are doing everything possible to rectify a difficult situation, and to aid their clients in recovering lost deposits. I'll certainly consider their position with an open mind.

And they want me to convince you of these things, as well. This is where I have a problem. I'm not ready to certify anything regarding this matter, until I hear from you guys that this deposit problem has been resolved, and you are satisfied with the resolution.

So, for now, I'm holding onto the CCM email, and waiting to hear from you.

[sknight1]

Clint,

Sounds like an interesting (yet still suspicious) response that you received from CCM. I have heard nothing further from them since I copied / pasted their most recent email to this thread (post #4489).

I’m curious as to how they think they are “aiding their clients in recovering lost deposits”, by asking us to re-deposit the money via bank wire....? Lol. That makes no sense. 🤣

[mlawson71]

Bitfinex is fully exiting the USA. The cryptocurrency exchange said it will ill fully terminate its services for individual US customers by November 9. The first announcement on Bitfinex’s intentions in that regard was made in August and US customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform.

By November 9 Bitfinex will shut down all functionalities for US clients, including trading, deposits and withdrawal. Additionally, US individual customers will no longer be able to provide financing on Bitfinex.

This is the same cryptocurrency exchange that got hacked last year and the hackers made off with $72 million and then the CTFC fined the exchange with another $75,000 for the hack.

[Martin22]

sknight1. Did you finally get in touch with the person you were seeking out at your banking institution ? And if so what is the news ?

[Martin22]

Last I heard from Capital City Markets is they take everything on my account and it will be closed 27th of Oct 2017.. With the exception that I must send more money to keep account open.

[sknight1]

I spoke with the woman at my bank this morning. She agrees that it sounds very suspicious, said that money transfers around the world can be completed in 2-3 days at most, recommended that I do not wire any more money to CCM, but (just like the CC company that someone else here used for their deposit) too much time has passed for them to be able to track / locate / return the money to my bank account. She also agreed that it sounds like a scam due to the broker possibly having financial problems of their own, that vetting & choosing a reputable payment processor is the brokers responsibility, that clients cannot be (re)charged for funds that are lost / stolen by the payment processor.

So my bank is on my side. And she will email an official reply ASAP, which I will copy / paste here, as soon as I receive it.

Bottom line is, CCM got my deposit & my profits. But they won’t be getting any more money from me. Nor will I continue to do business with them in any way.

[Jinz]

Sounds like they trying to buy more time, to take the money and run. This is bad, Didn't anybody report this to their regulator?

[Clint]

Good question, Jinz

Capital City Markets claims to be regulated by the Vanuatu Financial Services Commission (VFSC), and we list it that way in our Offshore Broker List. However, I know nothing about the strength or competence of this regulator. Vanuatu is not exactly the U.S., the U.K., or the E.U.

Most of the offshore brokers in our List are completely unregulated. Dealing with unregulated brokers is one of the prices we pay for going offshore to escape the CFTC.

[Martin22]

I still receive emails from Tallinex . I wonder if they have any input in this catastrophe of a broker that they bridged a lot of us to .

[Clint]

Good question, Martin

Why don't you ask Tallinex?