I still have a live account there, that was transferred from Tallinex, CFTC recently sued Tallinex and fined them 10 million. SO lets see how the CFTC plans on collecting that. They may have some ties in NY somehow.
As for CCM I never was able to get money in there, I got the CC approved, and sent them all those pictures of the front and back of the CC with the face of the card holder, and after that CC was approved for deposit, they stopped taking credit cards, so I have never funded that account.
if you got the money thats whats most important~! AND for sure slow withdrawls suck, but better late than never!
I have read through much of this thread - it took a while! ! What a trove of intell!
I plan on openning a new account with Turnkeyforex. Like many other folks I am concerned about withdrawls.
Is there anything preventing an account holder of Turnkey to open a bank account, private or could it be held in the name of a trust or LLC, in GB and have withdrawls sent there and then from there to their US bank account?
I suppose if it was that simple it would have already been done or it’s illegal!
I was under the impression that the CFTC only applied to regulated brokers doing business in the US.
If this was covered in a prior post of this thread I missed it.
Back in March 2012, I posted a brief history of the CFTC’s regulation of retail forex in the U.S. Toward the end of that post, I mentioned the CFTC’s meddling in the affairs of offshore brokers alleged to be violating CFTC regulations.
Here is a short quote from that rather long post –
If you are interested in the “brief history” referred to above, click HERE.
Hi. I was poking around FXopen.com which, by the way says they will NOT
provide services to “U.S. residents” and looked at their regulatory
agency at this link:
And I found a reference to LQDFX voluntary withdrawal from that regulatory
agency here:
I have no experience with this broker, so am just posting this info because it is
currently on our list. Just FYI.
Very smooth, funded with ~$46 nominal BitCoin
USD denominated MT4 account, very smooth. Will
complete the KYC docs and hook it up !
Will let you know my impressions of LQDFX.com Forex.
[EDIT] their ECN account has a minimum required deposit
of $500. I transferred some BTC to their USD wallet, but
it was less than $500. The “internal transfer” from that
wallet to the Live account was blocked, and they are
insistent it MUST be $500 … None of the other brokers
care very much about that, so I’ll have to wait…
[EDIT2] A day later, received an email indicating account
approval with specific information concerning U.S. persons
restrictions, and workarounds. So far, a good sign-up experience.
I’ve had an LQDFX account now for about a year with no problems. Crypto support is great. FX spreads are comparable to what you might find on FXChoice…not really for scalping but fine for more casual daytrading.
Huge selection of other instruments. Even hard to find stuff like soft commodities and London metals. Spreads are a bit wide on some instruments, but many also have zero overnight swap, so nice for longer term positioning.
Overall, the products offered make a good compliment to the more scalping oriented brokers on Clint’s list.
@ShatnerReborn you are talking about their ECN account
pricing, right? I’m hoping the pricing will be pretty good.
[EDIT] Finally hooked onto a Live ECN MT4 feed. Weirdly,
their symbols have a suffix “…” Yep, double-dot… So
EURUSD is “EURUSD…” lol. But that’s
OK, except I’ve only ever seen a single symbol suffix… So anyway
the pricings are closely comparable to what FinProTrading
or TurnkeyForex offer; which seems quite good…
HI Clint,
I do have a personal experience with Turnkeyforex. When I opened my account in February I initially had trouble depositing with them. Their bank could not find the wire transfer to the account and I had to have my bank provide me with a document with the details of the transfer. I sent out the wire February 26th and they finally said they received the funds on March 16th. This took a lot of emails back and forth about 22.
Fast forward ro now and I have made 30% on my account from my initial deposit and asked for a withdrawal of my winnings, just my winnings not my entire account Here go the wire transfer problems again. I requested the withdrawal on the 26th of July and till today I have not received the funds in my account. The reason they provided me was that I provided the wrong SWIFT code. I double checked all the information that I provided to them. I even sent them the direct link to my banks website detailing the information. It has now been 2 says since I have heard anything from my account manager Barry.
Whatever happens I will post an update as soon as it occurs so that others may take into consideration when opening an account. I do have the bank details they sent me for a deposit if anyone is interested.
Thanks for your feedback on Turnkey Forex. I’m distressed to hear about the problems you are having with one of our vetted brokers.
In late June, we designated Turnkey Forex as a Trusted Broker. So, it’s doubly distressing to suspect that one of our top-rated brokers might be mishandling deposits and withdrawals.
I don’t have personal experience with Turnkey Forex, but many of our thread participants do.
I will put out a call for specific feedback from those participants regarding their recent deposit/withdrawal experience with Turnkey Forex
If you trade live with Turnkey Forex (UK), please read this:
In view of the problems reported today by one of our members, I would like to request assistance from all participants on this thread who have made deposits to, or withdrawals from, Turnkey Forex this year.
Specifically, if you have had deposit/withdrawal experience with Turnkey Forex since January, please post a message here, telling us whether your experience was satisfactory, or not. Please include as much detail as you are comfortable sharing.
Thanks, in advance, for helping us investigate this situation.
Hey Clint! I trade with turnkey, found them here on the link itself… never had any deposit or withdrawal issue with the broker. the deposits work fine and so do the withdrawals. the last withdrawal was in mid july & it was received in time. surprised to see a withdrawal compliant for them cos i have done a couple of them @DynaPip assuming you are from US, it should not take long for your deposits to reach them and withdrawals coming back to you. FYI im a teller with the bank and wrong SWIFT codes can cause delays. In such scenarios the receiving bank returns the funds back to the sender. And incase you need more clarity please PM me or if you can share more information specifically the bank name, maybe i can help with it. thanks
I have traded with turnkeyforex and personally never had any issues in withdrawals (I have a very small account, less than 10K so can not vouch for larger account types). My larger account is with finpro and now I’m moving it slowly to coinexx and all three have been very good with withdrawal. @DynaPip I do know from experience and totally agree with @scalpingjack that wrong swift codes can create a lot of issues and I know from past experience that once I made a bank transfer and it did not reach on time to the other party, when I reached out to bank, my bank specifically told me that they will not even initiate a investigation for delay on my transaction because they need to wait for 14 days to consider a payment is delayed (their statutory time limit for a payment is 14 days) and I’m talking about a large cateogry-1 bank here. I would suggest that you email their support (turnkeyforex) and tell them to cancel your withdrawal and pay you out via bitcoin instead (if they havent already made the payment). Typically, if the withdrawal isnt processed they should be okay with withdrawing via bitcoins, and that should not take more than a few hours to reach you. This one of the main reasons I’m more optimistic coinexx.com and see them as a much better choice becuse they deal only in cryptos and there are no banks to delay the deposits or withdrawals.
However, please do keep us posted if your payments are not processed, it will be a matter of concern. Based on my experience, I’m hoping that it is genuinely a bank issue and not a broker issue.
Another though that just came to my mind while typing this reply. Are you using one of the national banks or a regional bank? Because there is also a possibility that you bank has one or more intermediary banks (in case you are not using a tier-1 bank with multinational presence). When your bank relies on more than one intermediary banks for international payments, you will typically see a lot of delays in international transactions. Just a thought … Please keep us posted how your withdrawal goes , fingers crossed !
@DynaPip I just re-read your post and see that you mentioned that even your deposit took 20 days to reach turnkeyforex, and now you are facing the same delay in withdrawal. Just a thought… that even if your deposit was delayed by 20 days, there is a high chance that its a bank related problem because for me, both deposits and withdrawals are less than a couple of days.
No withdrawal issues with turnkeyforex. have done three withdrawals since jan amounting to a total of 15 grand infact the last one was received on 2nd aug… they processed it like they always do. @DynaPip any news on ur withdrawal ? do let us know and i’ll refer them to this thread
I would like to thank you and everyone here for the continued discussion and I am happy to report that the wire came through today.
Apparently they had to try another bank to wire the funds as the first bank they tried to wire the fund though was coming up with an error when inputting the SWIFT code. My account manager was ill as well which is the reason why he did not respond to my emails.
I have been searching for a long time for a reputable broker to transfer my main Oanda account to. I will trade a few more months with TURNKEY and do another withdrawal and make my decision then. It looks like I may transfer half once I get the confidence to do it.
Again thank you all for your input and comments, it helped me to have a better understanding and confidence as to what could have happened. I look forward to reading more posts from all of you in the future.
! What a trove of intell!
, fingers crossed !