Coinexx is also using turnkeyfx
Has anyone here used vload to fund tradersway account. And there are withdrawal restrictions with this payment method as well. Never used it before and was wondering is it safe?
I have an account with VLOAD. The way I understand it is that its a private ledger concept. When you buy vload vouchers, you in a way get IOU from vload. You can then use those vload vouchers to buy a service at participating merchants. These merchants then take those vload vouchers back to vload provider (vload.expert) and get paid from them. Essentially, its no differernt than tether (tether.to) but with the biggest catch that tether is a public leder and vload is a private ledger. I dont necessarily see a risk in vload other than the standard risk of your broker.
You buy VLOAD vouchers from Vload and then give them to the broker. Your broker then gives those VLOAD vouchers back to VLOAD and gets paid from VLOAD. That is the complete cycle.
I have personally not used vload to make deposit, I prefer cryptos to make deposits just because I understand them better. I have an account with LQDFX and they also accept vload, that how I got introduced to the concept. But if you trust your broker, its then his responsibility to give you credit for the vload voucher that you use to fund your account.
BTW, just out of curisoty you mentioned
Can you please elaborate on what those trading restrictions are ?
Thanks whywescalp! [quote=“whywescalp, post:5411, topic:35612”]
That is the complete cycle.
[/quote]
no the cycle doesn’t end here. For withdrawing the funds you deposited through vload, Tradersway will only send it back to an ewallet not to your bank account . So the whole process seems like a headache and there are transaction fees at every step - once while transferring funds from bank to vload, then 3.5% for buying a voucher from vload. And while getting my funds back, im paying the withdrawal fee at TW, then a fee for transacting the funds from the ewallet to my bank. I’m a small trader and bearing these kinds of fees is a bit too much for me. I was really excited to see card payments listed in their payment methods and signed up primarily cos of that. But now it seems like an expensive proposition.
& i agree cryptos are our saviour looking at how complicated its getting to fund trading accounts via other means.
And I appreciate you took out time and replied, esp on a long weekend.
That is rough !
Im not sure why you would use that broker (or at the very least that payment method). To me it seems that the broker has cut a very bad deal with vload guys and its passing on all the cost to its client. I understand that, if the broker is offshore, he has to deal with a lot of expensive intermediaries but that dosent mean that you go and spend over 10% of your trading capital only to be able to fund your account and then still have to deal with ewallet refunds etc.
My best advise would be use cryptos to fund your account. It is cheaper, fast and easy (well easy only if you try atleast once 
)
Almost all the brokers that @Clint has on his list accept bitcoins. You just want to pick the best one who does not pass on the cost to you.
Hope that helps. Best of luch with your trading.
WORKING ON TRADING ISSUES
This offshore brokerage thread is extremely important since, without brokerages, it’s hard to do good Forex trading. I’ve been working more on the trading analytics side of things, in this thread:
One broker which is extremely valuable is Dukascopy, in Switzerland. Unfortunately, they will not grant LIve accounts to U.S. persons, but they will grant perpetually renewable DEMO accounts. They offer a Market Depth from which inferences can be made to generate a Time and Sales, and a complex API which is able to access this streaming realtime data, i.e. Depth of Market data on which a virtual Time and Sales can be derived.
Both of these are information which can be added to Currency Strength Trend to “triangulate” trading in Forex. The three “pillars” are: 1) Currency Strength (which does not require volume information), 2) Depth of Market based Trend prediction calculations, and 3) the ultimate prize of Order Flow or Trade Flow inventory calculations.
In all 3 of these, and taken together, our goal is to predict before Price moves, where it will be moving. I’ve been deep inside code integrating these data sources for proprietary trading bots. But a lot of such information can be used as a basis for daytrading scalping, or even longer periods and I’d like to make that accessible free of any charge. The problem is understanding what all of the data means, and maybe I can use another thread to discuss all of that…
These topics don’t fit into this “Going offshore to escape the CFTC” topic thread…
hyperscalper
COINEXX.COM USD DENOMINATED ACCOUNT FUNDED
DIRECTLY THROUGH CRYPTO TRANSFER OF LTC
So I opened a USD denominated account at Coinexx.com, and funded it
by sending LTC (Litecoin) from Coinbase into the deposit wallet address.
Actually, I started the transaction and Coinexx said I had 30 minutes to
complete it. Well, several hours later, I actually did send the LTC and
that incoming wallet address at Coinexx was still valid !
No “intermediate” wallets involved. Most other brokers give you a “crypto
wallet” so you transfer to that, and then from that wallet , as a next
step, you use the crypto to purchase USD which is deposited to
your USD account, for example.
So it was directly deposited in USD from the incoming LTC in one step
from my perspective, even though obviously they would do the
LTC -> USD conversion behind the scenes, I assume… Very slick.
I’m finally gearing up to do some volume trading, across multiple
accounts and brokers, through a couple of in-house developed BOTs.
[EDIT] I think I’ve mentioned earlier that this means I need to use a mixed
MT4 and MT5 server pool setup under NJ4X.com’s Pro Terminal Server.
I just need to test to be sure these MT5 pools operate as expected.
“Trust, but verify?” lol
hyperscalper
1 Like
Is there a reason you use litecoin? Etherium has average transaction times <20 seconds compared to 2 1/2 min litecoin & 10 min for bitcoin.
Coinexx, Finpro & Turkey all seem to be white labeling the same technology. Sign up menu & process, back office layout & menus, opening live/demo account process are all the same & and all 3 are in the UK.
yes they have the same technology provider turnkeyfx
@HyperScalper this is interesting but am wondering how much of the funds are lost in transition/conversion? Will try an account with them… have shitloads of dogecoin hope im able to use them and able to directly fund their usd account with my coins
Well. Discussing about the direct conversions by the brokers, I tend to agree with @HyperScalper over here. These any-to- any kind of transactions will actually make trading through cryptos a hell lot easier and effective. I guess that is one thing these new gen brokers are focused on. Ya obviously there is no magic happening actually they are just doing one transaction on the backend for us and I don’t think much funds are lost in the process @rushilsmith
Infact, it is cost and time effective compared to the other brokers where you first have to buy the crypto be it BTC, LTC or DOGE through coinbase and then send it to your specific wallet address with your broker and then again convert it into USD so you can finally trade forex or other instruments. (calculate the add-on commissions) and crypto being so volatile in nature, every second is important here. so time saved in one extra conversion is actually money saved…
I just had a conversation with Coinexx and was unable to confirm that they used TurnkeyFX.com . However, their quoted commissions match exactly what I believe FinProTrading and TurnkeyForex will offer, so the similarity is compelling:
“[email protected]
Regarding commission, we have a standard $2/lot round turn commission structure for commodities & currency. For cryptocurrency; the commission is $2/100K round turn. And for stock indices it is 0.2/lot round turn Please be advised that commission is quoted in dollars and will be converted as per your accounts base currency. You can refer to our commission calculator to check what commission you will be charged to you. FX Cryptocurrency Trading, Crypto Forex Broker - Coinexx”
These are also 500:1 leveraged accounts.
I am attracted by Coinexx.com which offers base USD accounts, but does not offer USD funds transfer mechanisms. You would use Crypto transfer mechanisms into and out of your USD funded account. That’s fine by me !!
I’ve been able to integrate Coinexx accounts into our framework, and things are working well as expected. Am tempted to move lots more to Coinexx, but don’t want all of my “eggs” in one single “egg basket”… lol
I should repeat my usual disclaimer that I do only the 28 Major Forex pairs, so nothing I say has anything to do with any other products like CFD’s, etc…
hyperscalper
2 Likes
Turnkey Forex & Coinexx live feeds, looking suspicious…
Different broker’s executable streaming prices could never be that identical across that many currencies unless they are one and the same.
1 Like
also if you go to myfxbook click on broker trade volume and only click finrpo. turnkey and coinexx and you will see they have the same trade volume across the same pairs, they all use turnkeyfx
Fullerton Markets goes offshore
“LeapRate Exclusive… LeapRate has learned that New Zealand based Retail FX brokerage Fullerton Markets has gone (farther) offshore, transferring all business from its NZ entity Fullerton Markets Limited (FML) to a newly created entity in offshore jurisdiction Saint Vincent & the Grenadines, called Fullerton Markets International Limited (FMIL).”
When I saw this news item in LeapRate, I decided to look into Fullerton Markets.
We have had Fullerton Markets in our Alphabetical Listing (see post #4 ) for a couple of years, and they have always been marked “no U.S. clients”. But, I wanted to see whether anything has changed in their new jurisdiction.
I noticed this statement at the bottom of each Fullerton webpage:
“Fullerton Markets is proud is offer its list of products and services to its growing number of global clients. Spot forex and Derivatives are available to all clients. Please note: Fullerton Markets currently do not offer services to New Zealand residents.”
Okay, so I decided to open a live account.
Here’s a screen-shot of the first page I submitted. Note that there is no reference to citizenship or residency on this page. However, the country-code in my phone number (which I have redacted here) clearly indicates that I am in the U.S.
The next page in the live account application process stated the following:
“Thank you for opening a new account. Please check your email for access credentials. Kindly expect a phone call from our friendly New Zealand representatives (country code +64) to your registered phone number in order to verify your application. Failure to being verified may result in your application being declined.”
Fullerton sent an email, seeking to confirm my email address, and asking me to verify that I received their email, in order to “confirm” my account.
After I did so, they sent me another email to confirm my new account, along with instructions for uploading proof-of-identity and proof-of-address – which I have not done yet.
And I have not yet spoken to anyone by phone, because it’s past midnight here, my time…
So, I’m several steps away from actually having a live account with Fullerton Markets. But, so far, it looks as if we may have found a new offshore broker.
I will let you know how this turns out.
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-
I have removed all of the red update icons
from posts #1 thru #5 of our List. This little clean-up chore has to be done every couple of months. As additional updates/changes are made to the List, they will be tagged with the icon. -
The list of links in post #2 will be updated later this week.
from posts i talk to there live chat here’s there answer " Sorry, currently we do not accept US clients"
i believe turnkeyfx owns finpro trading as i stated before when you do a wire transfer with finpro trading your money is going to turnkeyfx they also have the same Director
https://beta.companieshouse.gov.uk/officers/a8SMYv8D0IPjr1-FwyykcAnRgdY/appointments
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This thread is gold. Thanks @Clint for managing it since 2010. 
@SmallPaul whats up with you brother? It seems you hv dedicated your account to these brokers turnkey & finpro lol and everyone here (including me – a first timer now knows) that they are related to this another turnkey company grrrr . let’s talk about their services, conditions & any withdrawal deposited related info or issue or any scam they’ve done - which matter more I think and is more in line with what this thread is about. Lets maintain the sanctity of this thread discussing broker related concerns and views. And btw you making them famous by talking about them only 