I had FinPro Trading PAMM accounts that were taken over by Coinexx as a result of the merger. Here are my concerns with the post merger reality…
- Coinexx is now an unregulated operation (FinPro was UK based and regulated)
- Coinexx wants all account funding/withdrawal with crypto (tell a new potential US PAMM account client they have to fund their new PAMM account in crypto. Not good)
- Large PAMM account clients want a strong correspondence/depository bank for the broker which offers brokerage credibility (who is that bank for Coinexx)
That last point above is my main issue with FXChoice since they use a bank in Bulgaria. It’s hard to get large account clients to use FXChoice with a Bulgarian bank. My understanding is ATC Brokers new Cayman regulated brokerage can take on US clients for large accounts. I need to really consider the degrading options for US clients and maybe move everything I do to a broker like ATC Brokers - or those who will take large account US clients.
I’m looking for regulated FX Brokers with solid depository bank relationships. When you generate high returns for your clients each month working your a** off I don’t need brokerage house problems. We traders invest a lot of time into building our capabilities and the broker options remaining for US clients (below 50k starting account balance) are not very good right now.
Last item, anyone know of FXPro in UK taking on US clients for 50k or greater in a PAMM account?