Yes for the comm, execution reliability n spreads they offer and for how they handled ex-finpro clients with TLC . And i transfer funds in/out pretty often and there hasnt been any issues so far.
yes it is. they usually raise a ticket to their tech support for issues that cannot be solved on chat & then either my poc or their support team replies. Never had a situation where it was unanswered but did experience slight delay in the beginning.
@Clint yes i think we should have them as a trusted broker !
I am not smart enough to understand this, so I am inviting you
Crypto geniuses to explain it in a couple of paragraphs for all
of us. No sarcasm intended; I really would like to understand
this, and whether it is a truly unique approach.
I am attracted to the “fiat” currency denominated accounts, but
always wondered how they might be doing that… and at the
same time, perhaps not literally holding the “fiat” currency itself…
This seems like an approach other brokers should emulate?..
Demo feeds are often simulated. Most brokers I’ve worked with do not guarantee demo to match live. Demo accounts are great for functional testing (pip sizes, order types, etc.). On the other hand, I wouldn’t expect price data to match. Better to use live with minimal lot size…
I read about this also months back and found it very interesting. Good stuff! From what I gather, no fiat ever changes hands. If you want EUR/USD, they provide EUR/BTC * BTC/USD . This amounts to the same thing. How they protect against volatility when holding fiat accounts is another question altogether and I haven’t seen this question addressed. Maybe they use some kind of tether on the Stellar network or similar, but now I am just speculating.
It’s time to remove Evolve Markets (SVG) from our List.
Beginning in September 2018, Evolve stopped accepting new U.S. clients, making that broker ineligible to be on our List.
We have patiently waited for Evolve to settle their issues with the Nanny State – but, no such luck.
As of today, Evolve Markets still excludes U.S. residents.
If you attempt to open a new account (from a U.S. IP address) you will be redirected to this screen:
Over the weekend, when I’ll be doing a major update of our List, I will remove Evolve Markets from Group 1. Between now and then, if anyone has valid reasons for not removing them, then now is the time to speak up.
I understand the reasoning here, but my vote would be to wait a few
more weeks. We know that using “defensive disclaimers” based on
U.S. geo-location are largely window dressing, and CFTC is largely basing
attacks on “public solicitation” of U.S. clients by the brokerages…
By taking the stance that “US customers” are excluded through
public web pages, thus mitigating the easy charge of public
solicitation of U.S. persons, a broker removes itself as an object
of attack by our Nanny State. That broker
can decide to accept excluded categories based on "non public"
i.e. private negotiations with the brokerage, based more on
the business case, etc…
[EDIT] if we excluded any broker making a public statement
to defend its business, making it clear that it is not “actively
soliciting” U.S. persons, as a prima facie defense against
enforcement action by CFTC et. al., then we
might end up with no brokers at all…? just sayin’…
It all comes down to “solicitation of U.S. persons” and
not whether a broker accepts a U.S. account opening request
through a private application, I think.
Based on my limited understanding, so please correct me if I am wrong, the demo should be a direct, read-only feed of the live trading. Any more sophistication than that seems unnecessary to me. For a broker to say that they do not guarantee that the demo price action will exactly match the live leaves me to assume that the meaning behind that statement has more to do with the subtle delays that may occur in an effort to transmit data that has already occurred.
Presumably, the feed for each trading pair would be achieved through some cookie-cutter programming, so seeing a single pair behaving this way while also considering the nature of the issue, begs to question what is being done to cause this issue while also leaving to question why something so seemingly easy to fix has not been addressed yet.
I hope that it is clear to anyone that may be reading this that my intention is not to bash on Coinexx, as they are currently my top choice, but only to bring these matters to discussion for the sake of transparency and so that we can all benefit from the knowledge that is shared. I would not want to simply disregard any issue even if I personally felt that it was trivial due to the fact that there may be many things going on behind the scenes that I just do not understand or that I am aware of.
Presumably, in a similar manner to how some crypto exchanges can offer margin trading for products that are ‘pegged’ to real currencies (see Bitmex, as an example), in the form of CFD’s, where you are not actually trading the underlying asset. Even more easily achieved by a broker because they could claim that they are not actually holding anything, but merely serving as a go-between. This, all, assuming that I am understanding you correctly.
The troubling part of the article is the presumption that conducting business in this manner will allow them to operate as a self-regulated entity while also satisfying all regulatory requirements and compliances. Even if that were true to the jurisdiction in which they operate, we all know how the long-arm reach of US regulatory bodies can sometimes know no bounds. We also know that simply passing legislation that defines anything as something else is all that would be needed to justify their claims that you are breaking their laws in an effort to satisfy any Memorandum agreements. That does not even touch surface to the probable lobbying that is going on, taking the shape of legal bribery, but I am getting off-topic.
The concept is not new, based on my very limited understanding. I am certainly not smart enough to understand it, but I think that is by design.
Well, I don’t use Demo accounts at all. So if this is discussing Coinexx
I can’t say what Demo pricing would be relative to Live. But Demo
is a lower priority than Live, and so most brokerages will throttle,
limit or generally not care as much about Demo system performance.
Almost all Demo accounts are poor representations of the real thing.
Again, I can’t say with Coinexx.
As to guaranteeing fills… well we’ve all seen EA’s which show micro
scalping wins and a rising equity curve. That is all deception. Live
fills are the only ones to trust; and they don’t work that way. We
Buy the Offer, and Sell the Bid as retail traders; so impossible to
make the spread. But a demo account might give you the spread,
and thus be wildly incorrect.
to late they been busted taking U.S. traders there is no putting up a disclaimer then taking U.S. traders again also im pretty sure the deal they work out with the U.S. regulators is to not take U.S. citizens again
they been busted taking U.S. traders there is no putting up a disclaimer then taking U.S. traders again also im pretty sure the deal they work out with the U.S. regulators is to not take U.S. citizens again
As a programmer, I would think your description would be the easiest way to do it. In practice, I have seen demo feeds that are way off and seen this on many different brokers. Your mileage will vary. I am not talking about Coinexx in particular. I haven’t examined their demo feed in depth. They might be better than most, but I wouldn’t expect it to be the same. It cannot be. Even if they are very close, as Hyperscalper said, execution will differ.
Demo is a Sandbox, to use IT lingo. For serious Staging Environment, minimum risk on live feed is the way to go IMO.
One of my problems with Evolve.Markets is that all
new Accounts are forced to use MT5. This probably
seems like “a good thing” to many traders; but this is
very bad for me. [EDIT] Since I use “pools” of terminal
instances, and MT5 takes multiples additional RAM
of MT4 I can easily get memory exhaustion with MT5…
[EDIT2] In fact, I expect that those “free VPS” systems
being offered could easily not provide enough memory
for even 1 or 2 instances of MT5 running… Very bad usage
of RAM in MT5… Most cheap VPS systems have limited RAM.
What I appreciate with Coinexx is that they freely support
both MT4 and MT5 by contrast. [EDIT] I need at least a 16gb
system, and preferably 24 or 32gb for my systems…
As you can see, their Support responded to my performance issue
and now we see round trip Market Orders in what is an
acceptable range for me, averaging <250 msecs ideally…
If a broker explicitly states that they do not accept US citizens, then we should list them accordingly.
It is true that we are running low on brokers and for anyone that makes their living or plans to make their living trading, it’s getting concerning to say the least.
Still, my thinking is that the broker should have a say. We should honor their stated position.
I’m very gung ho on the whole free will concept.
Unless someone can show that it is possible to create a new account with them as a US resident, then I would suggest removing them from the list. If things change at a later time, then they can be re-added to the list easily enough.
Since we are trimming down, below are a few more brokers that supposedly accept US clients. These may have already been mentioned here. I have not looked into them myself, but only saw them mentioned on youtube, so I cannot attest to the quality or reliability of their services etc.:
