This looks like an interesting prospect, HyperScalper. Thanks for bringing it to our attention.
I looked briefly at the ADS Securities website – Forex Broker | CFD Broker | Forex Trading Company
| ADSS. In the fine print at the bottom of their various webpages, there is no exclusion for U.S. residents (or any other nationality).
And their online application page – https://my.adss.com/client-portal-web/signup.html – shows United States of America as the default entry in the spaces for country of residence and phone number.
This Coinbase discussion has me confused. But I’m assuming
most people would need the Coinbase dot com basic functionality.
At least that’s how I’m advising my small group of associates…
For active Crypto Traders, then I guess it’s certainly important to use Coinbase Pro (formerly GDAX), or a similar crypto exchange…?
Is that somewhat correct?
[EDIT] I’m looking at this strictly from the perspective of using
offshore Forex brokers, using Crypto transfer mechanisms, but
attempting to hold accounts in USD which applies to FinProTrading,
TurnkeyForex and, of course Coinexx possibly among others…
I’m opening quite a few Coinexx USD accounts right now…
[EDIT2] Without any endorsement of any YouTube channel, this
is a good link to check out to understand it better…
[EDIT3] by the way, the video warns of possible interference
by CFTC in this business…
When you go to pro dot coinbase dot com it prompts you to log
into your base coinbase dot com account…
Anyone heard of number 1 capital markets (n1cm.c om)? They look to be another forex broker that allows US clients to sign up and offer 1000:1 leverage.
BTW, first post here ever on babypips, been following this thread for a long time and haven’t seen this broker mentioned, otherwise I probably would never have posted, lol
Thanks for the added details, particularly on sending funds back to Coinbase/Coinbase Pro.
I just wanted to add, certain users like me (new? Level 2 only? not sure what the distinction is), there is a holding period on the USD deposit from your bank account:
Coinbase: Funds are immediately available to buy/sell bitcoin on Coinbase only, but must remain inside of Coinbase for 32 days.
Coinbase Pro: Funds are not available, do not even appear in the Coinbase Pro wallet, but are “only” held for 8 days. When I deposited directly to Coinbase Pro, even though the deposit is not listed and the balance is still zero, when I look at my Coinbase account, it lists the deposit and indicates funds will be available on Saturday (8 days after last Friday’s deposit).
Seems the confusion centers around hold times for ACH deposits and also on minimizing transactions costs. I tried a small tester deposit to Coinbase, had my funds held up for 32 days, and got clobbered for 23% round trip buying and selling BTCUSD. And I am a US citizen physically offshore my drivers license expired in 2004. That was a year after my last trip to the States.
Governments round the world have accepted my passport as proof of ID, financial services have also accepted it, in conjunction with my US bank statement as proof of address, and Coinbase even accepts this combo to allow me to register my account. But they will not accept it to upgrade me to Level 3, so I can’t send BTC to you, or to a forex broker, or anybody. It seems Coinbase Pro will allow me to do that… and also reduce the fees.
i have never had that problem, if i use ach transfer from my bank to coinbase the transfer is instant, then i use coinbase pro to transfer my funds from coinbase isntant, now im able to buy and sell coins and send them all in the same day
I’ve just made a small BTC deposit to finpro, using localbitcoins. Enormous transactions costs, but I only need to do this to access the leverage. So effectively, that cuts my leverage roughly in half.
If I can work with Coinbase Pro as small paul suggests, after their delays, I should be able to get the costs down.
Also, finpro offers free conversion to/from BTC and if I need BTC in the future, I can use that wallet. Seems convenient.
Perhaps my time delay is because my coinbase account is new… I don’t know. We’ll see how it goes in the future.
Meanwhile, I made a small deposit to finpro via localbitcoins using PayPal. Transactions costs were huge. Paypal premium was ~35%
Then I got a sudden insight, which will sound totally retro:
Why not make a cash deposit, in local currency, to the bank account of a seller in my host country? The national seller is in a different city, but their bank has a branch 500m from me. And the premium is only 3.6% for this kind of transaction.
Seems I have a local friend who’s into BTC… the same friend who turned me on to Forex in the first place. Great excuse to go pay them a visit.
Perhaps tech is NOT always the answer!
Though it is sometimes.
Maybe best results can be achieved by a well thought mix of both tech and old skool… availing oneself of the advantages of each while heeding their respective caveats.
do not buy bitcoin thru your bank account, only do ach transfer from your bank into coinbase, after the U.S. Dollars are in your coinbase account send them to coinbase pro, then you can buy and sell and send and receive coins
Thanks for this… I definitely will not make that mistake again (buying BTC from my bank account).
I will probably try just walking to a local branch of a bank, depositing cash into the account of a seller from localbitcoin, and acquiring the BTC in that fashion. Then go home & transfer to my forex account. I went out for a little recon at the bank branch today & that should not be a problem.
Just exploring. Poking my head down some different roads. Emphasis on “poking” – using small deposits, to see how different methods work, and being aware of what’s available.
Remember, I don’t get that instant transfer from Coinbase for some reason. But I’ve already made the deposits, so when funds become available, I will follow your procedure & see how it goes.
The more I think about it, the more likely I am to try the bank deposit/BTC purchase method. I was working a few months ago, getting paid cash in my hand each month, in local currency, with no way to get those funds to my forex account (or any account). So it’s worth it to see what’s available.
I am physically offshore, without a local bank account (because I’m not a resident), so I need to know my options.
"This email is to inform you that from Sunday 30th of September, we will be changing the time on our MetaTrader 4 servers from GMT +0 to GMT +3. Over the years, we have received numerous requests to make this change as this makes our servers more EA friendly. Furthermore, GMT+3, is an "internationally recognized end-of-day time” in the forex markets. Once this change is instituted, you will see 5 daily candles per week making the platform more EA friendly.
Please note that this change will only effect the time displayed on MT4 terminal and there will be no change in actual trading hours. The trading hours will remain the same as per your time zone like usual. If you are a manual trader, you can safely ignore this email, however, if you are using EAs for trading you might need to make some adjustment from the current time of GMT +0 to GMT +3. Please reach out to our client support team via live chat or via email if you have any questions. "
FYI all of Coinexx MT5 terminals use GMT+3 as well, not sure if there is any connection there… Personally I don’t like it since I have to mentally calculate from chart times to GMT… But I guess it’s innocuous and I can’t see any conspiracy theories lurking in there…
