Going offshore to escape the CFTC

I’d be interested to know if either Pocket Option or Close Option had crypto such as eaglefx, that said methos warning about pocket option doesnt sound reassuring. I also didn’t see great things online to say the least about DigitalTradeFX, and didn’t see much info on it as a whole.

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CloseOption has crypto pairs Binary Options.
However, I haven’t watched the range of payout percentages to see whether
they would be worthwhile, and anyway, I don’t have technical analysis for them…
I stay with Forex only.

[edit] I think PocketOption has only like 2 minute options, but CloseOption should
have them for a wide range of expiration durations from 30 secs out to 1 month.

hyperscalper

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They do. And the price action for crypto doesn’t look suspect like the forex does. Unfortunately, I was unable to find a chart on trading view to determine where they are getting their market data from, to be able to rule out any funny business. Personally, unless I can verify that the data is legitimate, there is no way that I am trading it.

Based on the demo that I tried, there are different timeframes available. If I recall, the cryptocurrency pairs did not offer as many options as the FX pairs, but I don’t remember.

And that is what I get from it, which is appreciated. I think that the cautionary posts outlining some of the associated risks are also important, because, as you say, you really must be on your game to be successful in the long run, and most traders may not be able to do that with BO.

Overall, though, I think that any successful trader would have some ability to predict where the market is going, else they wouldn’t be able to trade for very long. So, FX may be a better fit for most since it allows for more flexibility. I would venture to guess that most full-time trades are not scalping the market, either, and that really is a skill that you must have to engage in binary options, since I think that the biggest benefit with binary options will be seen on the smaller timeframes.

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He knows the math and it is his money, so if he says it works, then it works.
I know many people use volume analysis and it seems to be the only approach that works intraday.
But the main problem is volatility.
Traders who use volume analysis can win 9 out of 10 days, but once volatility suddenly pick up, he may lose a big day that offset 10 days of winnings. Binary option is a way to avoid this.
The only problem is, binary option brokers are betting against customers. So if you win, brokers lose.
I don’t think brokers will let you keep making money on them. They have too many ways to stop you.

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Watching Binary Options, like CloseOption dot com, there is the temptation to try your hand at micro-scalping 30 secs or a minute or two. PLEASE RESIST THAT TEMPTATION. Instead, use these Options for News Event volatility and for longer term predictions, leveraging the Risk management aspects of the Options.

When you do this, do so when you have 70% - 80% payouts, as is the case right
now for EUR-USD at CloseOption.
That payout will then be locked into your longer term prediction
contract outcome. That approach is sensible, when you don’t have access to
reliable short term indicators for scalping, as is the case for most traders !!!
BE WARNED ! :slight_smile:

Convince yourself by using a DEMO account, if you still can’t resist trying
your hand at Binary Options 1 minute scalps !!! You’ll quickly see it’s a mistake !

hyperscalper

NEWS EVENT RISK MANAGEMENT

I have said that Binary Options can be an effective means of
managing Risk on Volatility, such as News Events. I started
a new thread to discuss my view of News Event trading here:

Here, one small aspect of the whole strategy can be dealt with
through Binaries, but the huge topic of News Event trading is
something I’ve worked on for several years now, and volatility
is just one aspect of what is a much larger trading opportunity.

hyperscalper

I recently started with LQDFX. For 7 sessions in a row I’ve seen EU and UJ trade with 0 spread during LON/NY. This broker has some downside- 20 stops level (Use an EA), no stablecoin w/d or dep and the swaps are pretty bad compared to the other brokers we see discussed here.

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Sure but I wouldnt say that the broker is a 0 spread broker with only 2 pairs. Typically UJ and GU and EU have low-no spreads. LQDFX Was one that I was looking at so thanks for that info

After replying about zero spread, I skimmed the rest of the messages below about binaries. I saw some flamage toward @HyperScalper and didn’t read every word, but I’d like to thank him for pointing out any and all trading options available to the unsullied. Our good options seem to be dwindling slowly. I have zero interest in binaries, but that doesn’t mean I won’t take it up someday. I get a lot of solid news from this group. Thanks to everybody.

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Another LQDFX downside I forgot earlier- They take between 2.25-2.50% of your crypto deposit. I expect the same happens with withdrawals. Can anybody verify this? @smallpaul you trade with them?

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the withdrawals not bad but when i made a deposit i was surprise at how much they took

SPREAD IN FOREX VERSUS NO-SPREAD BINARY OPTION

A picture can be worth a thousand words.

Binary Option on the left on EUR/JPY; Tick feed from Forex broker
with Bid/Ask spread and virtual T&S volume event annotations
on right. ( Custom software )

[EDIT] these are simultaneous; but you’ll note their horizontal
server time axes references may differ by an hour… Peaks
and troughs should be easily matched up visually, I hope.

hyperscalper

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Hello, I was curious what broker everyone here finds to be the best overall as far as withdraws, spreads, commissions, etc… Also which broker is best for scalping? Thanks in advance guys

Hands down, that is Coinexx; with some similar terms also available through
TurnkeyForex . This is limited to discussing Forex only, from my perspective,
since I don’t trade anything else which is offered.

[EDIT] lest we forget; this applies only to those available to U.S. persons;
because, if you are not in that category, then the choices are vast… :slight_smile:

hyperscalper

Thanks a ton for the fast response! I’ll have to give them a shot. Would you recommend them over FX Choice?

If you are concerned about Bid/Ask spread, commissions and execution
latencies; then they beat FXChoice. For other qualities, there are lots of
peeps in here who like FXChoice. So are your priorities purely technical
or are they related to other things a broker may offer ?

For hard-core scalping, so to speak, Coinexx offers by far the best deal.
This is especially true for commissions.

hyperscalper

Would you also say Coinexx has faster withdraw times? Its sounding like all the brokers are falling just a little short of Coinexx in every category :joy:

Honestly, I’ve been focussed on other things, but whenever I’ve
withdrawn using a crypto like LTC from Coinexx; it’s fairly pronto.
However, there are a lot of variables possible, and I haven’t
checked lately what Coinexx currently offers.

My main concern about all of these brokers, especially Coinexx
which began as an anonymous broker, and has now morphed
into KYC and may at any time disallow U.S. persons

But that is a far more general concern which I’ve expressed
elsewhere, as to just how long can you count on access as a U.S. person ?
When building a business, you must know that you won’t be kicked
off, and lose your ability to trade.

So maybe other brokers, such as Tradersway or FXChoice can give
you assurances on the business side; which transcend or over-ride
the purely technical considerations of execution and cost. Capiche? LOL

[edit] I guess technically it’s spelled “Capisce” in Italian… :slight_smile:

hyperscalper

Capisce! :joy: My next question was going to be about that lol I’ve never been with an offshore broker so it’s all a little new to me. What happens if they stop allowing US clients? Do I lose all the money in that account?

No, but you’d be closed flat; and forced to withdraw all of your
account balances. They typically wouldn’t just steal your money
Let’s have some optimism about humanity !! :slight_smile: LOL

[edit] Evolve dot markets was something I was enthusiastic
about, and created lots of accounts. They later went KYC and
forced all U.S. persons out. The same could happen with
Coinexx; but their technical advantages keep me with them…

It’s just the general insecurity about continued access and
trying to build a scalable business on the back of a provider
who may be forced by THE NANNY STATE as we call it,
to refuse service to any U.S. beneficiaries.

So I can’t scale up an operation seriously with Coinexx
and so I feel “in limbo”; and am looking at Offshore entities
as a possible final solution to this whole issue of what
I would call the Disappearing Brokerages from a U.S.
person’s perspective… Ya feel me? Cuz everyone in this
thread feels it I’m sure… :frowning:

hyperscalper