Going offshore to escape the CFTC

Broker Discussion Forex Brokers
4801

SIMPLEFX SPREAD ANALYSIS

at this time 04:30 GMT (Asian session) here are
the spreads at SimpleFX:

[EDIT] By the way, for smaller accounts leverage
is 500:1 and that decreases as account
size increases, but it’s quite good.

symbol min , avg , max spread pips
AUDCAD, 1.6 , 1.8 , 2.0 ##
AUDCHF, 1.6 , 1.8 , 1.9 ##
AUDJPY, 1.5 , 1.7 , 2.0 ##
AUDNZD, 1.6 , 2.1 , 2.4 ##
AUDUSD, 1.1 , 1.2 , 1.3 #
CADCHF, 1.6 , 1.8 , 2.0 ##
CADJPY, 1.5 , 1.7 , 1.9 ##
CHFJPY, 1.4 , 1.8 , 2.1 ##
EURAUD, 1.8 , 2.4 , 2.8 ##
EURCAD, 1.8 , 2.3 , 2.6 ##
EURCHF, 1.2 , 1.4 , 1.6 #
EURGBP, 1.0 , 1.2 , 1.3 #
EURJPY, 1.1 , 1.4 , 1.7 #
EURNZD, 2.3 , 3.0 , 3.3 ###
EURUSD, 0.9 , 1.0 , 1.2 #
GBPAUD, 3.3 , 4.0 , 4.4 ####
GBPCAD, 2.4 , 2.7 , 2.9 ###
GBPCHF, 2.8 , 3.0 , 3.1 ###
GBPJPY, 1.3 , 1.7 , 2.1 ##
GBPNZD, 3.3 , 3.9 , 4.4 ####
GBPUSD, 1.1 , 1.3 , 1.6 #
NZDCAD, 1.5 , 2.0 , 2.5 ##
NZDCHF, 1.5 , 2.0 , 2.1 ##
NZDJPY, 1.3 , 1.7 , 2.0 ##
NZDUSD, 1.2 , 1.4 , 1.5 #
USDCAD, 0.9 , 1.1 , 1.3 #
USDCHF, 1.0 , 1.3 , 1.4 #
USDJPY, 0.9 , 1.0 , 1.2 #

hyperscalper

1 Like
4802

New broker to look at https://www.n1cm.com/

Anyone have experience with them?

4803

BTC, Evolve and Finpro

I processed a BTC withdrawal with Evolve two days ago. It went very well. The only hitch was missing the confirmation email Hyperscalper mentioned. I ran the process again, verified by clicking the email link from them and the BTC was in my wallet within the hour. The mining fee was about $3.50 (BTC $6100 at the time).

As stated, they say that it is a manual process. I entered the request at 14:00GMT. Must have been during office hours, since it was processed very quickly. I’ve been using BTC since March and it continues to meet my expectations. I’m saving time and money.

BTC withdrawals with Finpro have been the same. Quick and easy. Their backoffice system is clunky, but it works. I talked with Sneha there recently, and she confirmed they offer Paypal once again with zero processing fee. I might run my next withdrawal that direction to test.

I don’t have time now to get into the subject of debit cards, but I recently applied for one that charges only .5% to load (convert to USD). This is faster and less expensive than Coinbase and the limits are much higher. Coinbase works, but remains disappointing. Bitpay works, but also has issues. I will make time to post my experiences with both. BTC is evolving and I’m looking forward to more progress. If you aren’t working with BTC yet, you need to get started, if only to understand and master it.

4804

Not bad .How much does trader need in account to get those spreads ?

4805

Ummmm… those are just the regular spreads you can have
with a basic ECN account and $50.00 equivalent. No magic
here; these are just variable spread plus commission type
accounts. We are very lucky these days to have excellent
Forex brokers.

But if you’re into BitCoin then you should use Evolve.Markets
with even better spreads. SimpleFX is “ok” but is not the very
best of the bunch.

Remember I am talking ONLY about the 28 Forex pairs, but
Evolve.Markets allows you to trade like BTC/USD and stuff like
that, if you want to speculate, etc…

hyperscalper

1 Like
4806

Had a quick look at their website. Looks kinda
OK but even the website had html syntax problems,
so I guess they’re just getting going. Their ECN Pro
account would be OK.

For me, there’s no way to know for real without looking
at a Live account in operation.

They are in Vanuatu, and selecting United States did not
result in a rejection message, so I guess they’ll take Yanks.

hyperscalper

1 Like
4807

BITCOIN ANNOUNCEMENT FROM COINBASE

Dear XXX,

We wanted to remind you that the upcoming Bitcoin Segwit2x fork is projected to take place on November 16 and will result in 2 bitcoin blockchains.

In our effort to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange, we are working to ensure we maximize your benefit from this event. So, following the fork:

Any user storing Bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required - we will automatically credit your account. If you have 5 Bitcoin stored on Coinbase before the fork, you will have 5 Bitcoin and 5 Bitcoin2x following the event.

Coinbase users will be able to trade both Bitcoin and Bitcoin2x shortly after the fork.

Coinbase will disable buys, sells, sends and receives for Bitcoin and Bitcoin2x approximately 24 hours before the fork. We will re-enable them following the fork once it’s safe to do so.

For a detailed timeline of events surrounding the fork please see our blog post and FAQ. Thank you,
Coinbase Team

hyperscalper

[EDIT] Geez, the text had indentation of 4 spaces so originally it put text into
a scrolling panel !!! Weird. Fixed it.

2 Likes
4808

Not a bad option to hold some thru the split. Segwit2x futures are currently trading at around $1100

4809

Clint and HyperScalper,

Thank you, both for making such outstanding contributions to help inform those (and traders like me) about the brokers we can (or should not) trust! I appreciate your commitment to helping all you have viewed your threads.

v/r
Pipconomist

1 Like
4811

Request for updates on the Capital City Markets (CCM) deposit situation.

Over the past week, there have been no posts regarding the deposit problem at CCM.

Is this problem being resolved?

If you trade live with CCM, and have been affected by the CCM deposit problem, please post a brief update here on your efforts – and (I hope) your success – in getting this problem straightened out.

Thanks.

4812

No success. Requested withdrawal of remaining funds in live account and it was not honored. Funds no longer show up in MT4. Straight up theft.

4813

Nothing has changed , do not be fooled . Bank says cant go back that far . Visa supposedly has a time frame of when a customer can claim things and its long past , and not a peep from Capital City Markets .

4814

@foreverforex2 and @Martin22 Thanks for your updates.

As it stands now, CCM clients have basically been screwed.

I received an email today from another member (who chose not to post here in the thread) saying essentially the same thing.

If there are other victims of this deposit fiasco, please speak up now, in this thread.

And if anyone has successfully resolved this CCM problem, please weigh in. We need to learn how you accomplished that !

4815

FXCHOICE PREPARING FOR BITCOIN FORK

Dear ,

We are writing to inform you that there will be a new hard fork in the Bitcoin network in the days to come. This certainly is not the first fork, but it is a unique one, as it is not only the biggest, but also the most contradictory in the bitcoin community, and possibly, among all crypto-currencies.

This fork will result in appearance of several currencies, although their future is uncertain. Exchanges, mining pools and investors express their support or opposition to any of the chains that is about to appear, but these positions change on a daily basis.

Therefore, no one can predict if there will be a price spike in BTCUSD rate, or if it will be possible to convert Bitcoins. Neither can we foresee the perspective of the network’s development. All that remains for us to do at this stage is to wait and closely follow the news to have a better understanding of what rules the bitcoin community will live by.

Since we highly appreciate our customers and protect their assets, and taking into account all the risks associated with Bitcoin in the coming days, we are forced to suspend trading BTCUSD as a temporary measure.

Therefore, we have three significant announcements to make:

We will have a temporary suspension on BTCUSD trading starting from 8th November. This means that one cannot place new BTCUSD trades starting from 8th November. From that day on, all open trades on BTCUSD will be “Close only”.

All open BTCUSD trades must be closed until 10th November. If you have open positions on BTCUSD, we highly recommend you close them. The trades that are left open will be closed automatically on 10th November at the end of the trading day.

Bitcoin-related internal transfers will be temporarily suspended on 8th November. If you want to transfer your Bitcoins to any other currency (or vice-versa) from within your Backoffice profile, please transfer the funds before 8th November.

Should you have any questions, please do not hesitate to Contact Us.

Best wishes and happy trading!
The FXChoice Team

4816

EXPLANATION OF UPCOMING BITCOIN FORK

I believe this is good reliable information.

hyperscalper

4817

SOLD MY BITCOIN AHEAD OF THE FORK.

I think the huge appreciation of BTC right now won’t last past
the fork. I’m not saying things will crash; but isn’t it reasonable
to ask why BTC is running up? Because you get “free” BTC2x
I guess…

Anyway, I sold my BTC into USD until the “mother forker” is
over !!! LOL

I wish that Crypto would explain to us whether or not SegWit2x
has “replay protection” so that the new BTC2x will be safe !!! ???
That’s way too technical for me !

(Edit) SegWit2X and the Case for Strong Replay Protection (And Why It's ... | Bitcoin Magazine

hyperscalper

4818

I just don’t think the fork will produce anything detrimental. There will be a fork, there will be BTC2x to trade, there will be others that will fork, etc. There’s big money (marketcap) involved in BTC and (imo) that’s not likely to change. However I do think BTC may have a painful market correction.

A couple months ago BTC was forked ala Bitcoin Cash. Hasn’t affected BTC price at all. BCH dropped to $300 and now up over $600

Litecoin was the very first Bitcoin fork. Litecoin solved all the problems that they are attempting to solve now with BTC2x. To date it has had zero effect on BTC (other then LTC price finally moving from $4 to $50+).

4819

HIGH LEVEL OVERVIEW OF THE BITCOIN FORK CONCEPT

I think these BTC related posts are important, if only because
increasingly BitCoin and other Cryptocurrencies are very useful
to U.S. Persons to bypass other funds transfer restrictions.

This is a great article to read which gives some perspective,
without being overly technical.

https://www.coindesk.com/stop-worrying-love-fork/

hyperscalper

4820

BITTREX STATEMENT OF POLICY ON FORK

hyperscalper

4821

BTW LTC Looks like its making another run of its ATH of $100. :wink: