The other thing about Nadex is they offer a unique (and potentially innovative) product that doesn’t seem to be catching on anywhere else – the bull spread.
These derivatives trade like the more familiar spot contract except with profit/loss limits. The idea is they mimic (ok inspired by) a bull call spread or bull put spread options strategy. But a criticism has been they expire at the end of each day, so cannot be used for longer term positions. Presumably the company did this so they could collect a daily “settlement fee”.
That’s frustrating because Nadex could implement a “daily roll” mechanism, creating basically a non-expiring profit/loss limited spot contract that even a granny could feel safe purchasing. The way it could work is the profit/loss bounds remain fixed, but you can hold the bull spread as long as you need to achieve your price objective, or until the underlying closes outside the bounds.
Oh, I guess my posts are starting to go way off-track. I’ll shut up now…
Yes, [B]undecided[/B] please take a look for new brokers not on Page 1 of this thread that are located outside of the USA. These brokers will generally offer leverage above 1:50 to all clients, including those from the United States.
Oh jeez this one is crazy. Thank you for giving me some interesting reading to do tonight… These type of people are in never-ending surplus.
I asked the above question last Thursday but got no response from anyone. Does anyone know the answer? I’d appreciate it if I can other people’s thoughts on this.
In almost all cases, a commission with lower spread model will have lower overall trading costs. I haven’t [B]NOT[/B] paid commission in years. If your paying .6 pips in commission and spread is .3, your cost is .9, if the spread only is 2.0, cost is more than double.
I would like to pose a question to the Tallinex representative regarding the possibility/logistics of opening a corporate account with Tallinex (I know the topic was briefly touched on earlier)…I think that everyone on this forum could benefit from some industry insider advice regarding this option…Its ironic that the attention that is paid to “offshore” “tax haven” jurisdictions is for just that (tax efficiency), while I will be more than happy to pay Uncle Sam every red cent of his taxes, and i only need the security of non_US residency…I just want to know if the “beneficial owner” is the shareholder or the director(s) or both, and what kind of residency documentation must typically be shown to open an account?
The primary questions should really relate to how you intend to trade, and how much you have available to open your account…
Pro accounts have a much narrower spread, but the minimum trade size is 0.10 lots and the minimum opening deposit is $2,000.
If you have the funds available and you aren’t planning to trade gridding / counter-trend / Martingale strategies, then this could be the ideal account type for you.
Micro accounts, on the other hand, might have wider spreads but they do allow 0.01 lot positions, and you can open an account with $100.
Ultimately, it’s a case of “horses for courses”, and only you know how you plan to trade.
It depends entirely on your trading style, i personally have traded both account types and i prefer the commission based account. It just depends on the trader.:33:
Thanks to everyone that replied to my question. Your replies have helped me towards my decision. I am strongly leaning towards an Tallinex ECN PRO account.
The COI shows where the company is [B]incorporated[/B] - it does not show where the company is [B]located[/B].
An issue with most offshore companies is that they are simply a “shield” and have no real base of operations or staff - in situations like that, we can work with the beneficial owner(s) to find acceptable documentation.
— it appears that Tallinex is located in, and operates out of, Estonia — St. Vincent being merely a convenient location in which to be legally domiciled. Sort of the broker-equivalent of a “flag of convenience”.
Is this accurate?
I gather from the time-stamps on your posts here in this thread that [I]you[/I] are in the GMT+2 time zone (which corresponds to Estonia, but does not correspond to St. Vincent).
Does Tallinex have any physical presence in St. Vincent?
And one other question: Where are your servers located?
Yesterday I made some EUR/USD and US30 trades within about 20 minutes after the FOMC interest rate decision was released at 1:00 PM CST using Profiforex and Tradersway. With each broker there was about a 3 minute delay in executing buy at the market trades, which was quite irritating while I watched the prices keep zooming up. Even after the trade was executed, an additional 2-3 minutes were required to set profit limits. I am curious if anyone made major currency trades within the same 20 minute interval using Tallinex, Paxforex, Sensus Capital, or some other broker and did not experience such long delays in trade execution, being able to open the trade within about 15 seconds after clicking the buy or sell tab. I know the trading volume is extremely high after such a major report, but maybe a broker exists somewhere out there that is making progress in reducing such execution delays. I want to know which broker that is, if one exists.
Tallinex staff are now actually spread across several countries, though we keep the old Estonian phone and fax numbers for convenience / consistency. I’m not sure what method you’re using to assess my timestamps but I’ve been travelling through eastern / western Europe and the UK over the last 4 months so that (and my unsettled working hours) would account for the times of posts, but I’ve not been anywhere that’s GMT+2 in the last 12 months so not sure how/why you concluded that. As for our servers, they’re located in the London Equinix data centre along with most of our liquidity providers and our new VPSs.
And thanks for your contributions to this thread over the past 2+ months. Because of your participation here, readers of this thread have access to more information about Tallinex than any of the other brokers we track.
The help you have provided in this thread is largely responsible for my decision to designate Tallinex as a “trusted broker” — one of the first two brokers designated as such in this thread.
I look forward to a long association with Tallinex.
Thanks for the kind comments, Clint - it’s actually quite nice to be able to put our side of the story and/or explain how things really work in this business. As with most industries, it only takes one bad apple to spoil the barrel, and there’s a plethora of misinformation that needs to be managed appropriately… hopefully I can do that without putting any noses out of joint
I placed several trades with tallinex in the time following the decision, all of which were executed in the same amount of time as “non-event” trades. This is typical as i have never had any significant issues with trade execution except for immediately following the account transition when i did experience one delay but was only a few minutes or so during a “non-event” time. good luck.
