[B]AssetsFX[/B] seems to no longer accept PayPal payments: Deposit Funds | AssetsFx
I think they stopped transacting FX completely.
Good to know the bureaucrats arenât asleep in D.C.!
âWe should consider establishing regulations on the retail foreign-exchange industry that are at least as strong as the regulations on the rest of the derivatives industry,â
-Sharon Y. Bowen, CFTC Commissioner (Obama apointee, attorney)
Another financial luminary uncovered by the Obama administration and handed a job they clearly arenât qualified for. I should go see an attorney when I need my car fixed or when Iâm sick. They can do everything so well. Derivatives? Really?
[B]CFTC Reviews Retail Forex Trading Rules Following FXCM Debacle[/B]
[B]CFTC Chairman Timothy Massad Testifies on Capitol Hill[/B]
[I][B]smacks forehead
[/B][/I]
His former chief of staff was quoted as saying - âNever let a good crisis go to waste.â
He and his joke of an admin were licking their chops when they smelled FXCMâs blood in the water.
Just an FYI, credit card deposits for US clients is not available at this time. This is what I get from backoffice.
[B]An issue with our US transaction gateway is currently preventing successful card deposits.
We are working with our acquiring bank to resolve the situation and appreciate your patience.
If you need to deposit funds urgently then please use a wire transfer and any wire fees incurred will be credited to your trading account - simply upload a copy of the wire transfer confirmation to your Back-Office account as confirmation of the charges, then contact our Customer Support team.
We apologise for any inconvenience[/B]
Unfortunately livechat was no help as they said they dont know how long it will take.
Are you referring to Tallinex?
I am glad to hear that Sls and TPs are being honored, but I am referring to instances where no Tps were set. The first outage I experienced was moments after the NFP last friday, where I did not set a TP and was attempting to close my trade manually in profit. Luckily I was able to close my position near a similar level, but it is very frustrating when price is moving quickly and you cannot exit a trade. I doubt that my manual TP level would have been honored if priced moved back against me.
It is not an issue that is completely unacceptable, as all brokers experience server issues from time to time. But the fact that these outages occurred during a period when many new clients were testing a new offshore broker, does not leave a good first impression. I am glad to hear that these issues are being addressed, but you will have to excuse my prudently cautious attitude. As this is my first time using an offshore broker, I simply wanted to share my recent experiences with those looking to make the switch, which is what this thread is all about. Thank you for addressing the issue.
many new clients were testing a new offshore broker,
I think that this might be an issue with server to server communication. Interconnecting servers is a complex thing and these things are inevitable I guess. For me, Iâll let this pass. 
Actually, it would be! One client had no SL on a 5 lot position that was 100 pips down when he contacted us. He told us where he planned to get out and it was a reasonable spot to exit so we adjusted his account accordingly.
I am all for recommending brokers i think that the peace of mind from knowing other traders have given the thumbs up is great help!
yes, this was tallinex. Yesterday they said it would be up and running this morning and now theyre saying they dont know when. I wonder if this effects withdrawing to US banks as wellâŚ
Credit card deposits have no bearing on wire transfers - depositing and withdrawing via bank wire is perfectly fine.
Credit card facilities are a slightly different matter - weâre playing a constant and very boring game with acquiring banks who agree to to accept US transactions, and then change their mind and/or decide to âhold deposits for a few months as additional securityâ.
When funds are held as security by acquiring banks, the money doesnât reach Tallinex. That means Tallinex either waits 6 months for the funds to be released before applying the cash to affected client accounts, or covers those deposits itself (which can run into 6-figures very quickly) to minimise disruption for clients.
I think itâs important to point out that this issue only affects US transactions - we have no problems with card deposits from anywhere else in the world - and stems from the US card-holder preference of disputing transactions for no good reason. Banks are simply getting fed up with it, and the associated costs (time and money) of handling fraudulent disputes.
So, on a more positive note, weâre currently testing integration with two new banks. However, itâll probably be a couple of banking days before things are concluded (assuming no integration issues are identified in the meantime) so itâs unlikely that US card deposits will be available until early next week.
I hope that clarifies the situation and highlights the fact that offering card deposit facilities to US residents is not the âwalk in the parkâ that many believe it is.
I would like to say how impressed I have been with communications from/with Tallinex. I find them friendly, helpful, comprehensive and open in all their responses.
Their spreads are a little tough⌠rofl. Edit⌠in fact today, they have been both large and volatile. Does this reflect a liquidity problem, or LP providers being cautious, or what?
I would like to say how disappointed Iâve become with being a US citizen. On behalf of my yahoo gvt and their idiot policies, I apologize for all the excess work that brokers must do in order to deal with US customers.
Weâve definitely seen LPs widening spreads as they try to recoup losses from the SNB fiasco - the amounts lost by the big brokers were made fairly public, but that doesnât indicate how much the LPs lost.
For example, a broker might have have $1m on deposit with an LP to cover immediate margin, but if the brokerage was heavily long CHF when the peg was pulled then they might owe $10m to the LP after price adjustments.
If the brokerage only has $2m in reserves (plus a bunch of negative client accounts) then the LP is down by at least $7m - theyâd claim the deposited funds immediately, and require the outstanding debt (as much as the brokerage had available) cleared the same day due to end-of-day settling policy⌠bankrupting the brokerage in the process.
That aside, our spreads are now actually better than before the SNB announcement, having been able to bring some new LPs into our pool, though yesterday would have been a little off the mark as it was public holiday with lots of volume missing from the market.
On balance, our spreads are actually pretty good - the average for EURUSD is currently about 0.4 on Pro accounts, with regular dips down to zero pips.
Awesome post - laughed so much I almost choked on my coffee! 
lol - Iâm glad to hear you got a laugh out of my post. 
I hope that brokers understand that there is a major difference between the âtypical US yankâ and the âUS gvt.â Many Americans have become intensely frustrated with our gvt (over 3400 expatriations in 2014)⌠their actions and policies under the guise of âprotecting us from ourselvesâ are a thinly veiled attempt only to protect themselves. If you looks closely, you can see right through it.
There are even some US cities (several in my state) that are now banning sledding, under the guise of protecting people from themselves⌠when the policy is actually about protecting cities from lawsuits from sledders who are so nearsighted that they forget that accidents sometimes happen, and ultimately they are responsible for themselves, their decisions, and any pending medical bills due to injury. Very simple concept that many people donât grasp.
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3400 expatriations in 2014 is just amateurish by UK standards - the last time I heard anything about it, there were something like 700 Brits emigrating per DAY!!!
As for the other issue, it doesnât surprise me one bit - people on both sides of the pond are so wrapped up in the notion that âsomeone else must be to blame for my abject stupidity (and I want to sue them!)â that itâs ridiculous. Say what you will about Russia, they donât tolerate any of that stupidity⌠You fell over? Tread more carefully in future. You got hit by a car? Look where youâre going next time. Someone said something that offended your delicate sensibilities? Get out of here and stop wasting my time, you idiot! The closest they have to âpolitical correctnessâ is that Putin is always right :18:
Any idea where they are expatriating to ? Iâm looking for suggestions !!! Iâve been researching the subject for several months, trying to figure out where I would go, if I get to the point where I could afford it.
Agreed on the âwanting to blame someone elseâ comment. I personally have slipped and fallen on icy sidewalks numerous times in my life (as well as doing a variety of other stupid things). And not once have I considered suing the sidewalk owner. My first thought has always been, âCrap, that was embarrassing, I hope to hell no one just saw me do that !â 
Iâve had significant losses during my forex trading learning curve and not once have I blamed the market, brokers, or a mentor. I take sole responsibility for my decision to learn forex trading and the losses that have come with it. On the other hand, once I become consistently profitable, I will take full credit for the success as well.
Most expatriating Brits have migrated into more appealing parts of Europe because itâs simple to do. Those with âsought-after skillsâ tend to head for Australia. A number seem to be giving Dubai a trial run and, for those with money, Monaco is the favoured âEUâ tax haven now that Switzerland has become more enthusiastic about taxing people.
As for the slipping in public part⌠Iâm sure you were just trying to look at something from a different perspective :23: