Don’t come here looking for issues. Go to review websites and find out.
All of you are paid forum users of this broker, please stop asking irrelevant questions.
I find this thread and baby pips forums in general useful to hear others having the same experiences I am having with a particular broker or strategy. Especially in the case of this thread with so few offshore brokers left and with a history of posts available on babypips forums where you can see consistency of thought over time, it is possible to get some idea from the different registered users, which brokers are offering a better service. A lot of the review sites seem to be of random people (no history of thought) who may have lost money due to bad analysis and not enough practice, etc. just bad mouthing the brokers. I have never called any of the brokers names. I have just relayed my experiences with them, and if others are having or have had similar issues with them and decide to share, it may help me and others choose between the few offshore brokers that are left on the list and correct me if I am wrong, that seems to me to be one of goals and purposes of the thread.
Sadly, there are no real review websites - just blogs filled with sensationalist trash comments designed to get page views and boost the Adsense revenues of the blog owners.
This thread is the only place where sensible discussion (about Tallinex, at least) appears to occur - the rest of the web is filled with generally baseless “xxxxxx broker is a scam” and other equally unproven statements by people who can hardly string 3 words together in a cohesive sentence!
keep in mind that 95% of people are losing in the Forex. So even tho it may be bull**** doesn’t mean the person didn’t believed in his non sens lol.
It is also important to not lose the original purpose of this thread, to also talk about the U.S. government sticking it’s nose further and further into the affairs of the people it supposedly works for. But the posters above this are right. There is one thing to consider when doing your research about a broker. If you only talk to the broker or look for 1 other site saying something about them, and go with them, and end up getting burned, you kind of deserve it. Make sure you do your research on a broker you are considering, not just if you are following this forum because you are a U.S. citizen. Contact the prospective broker, and ask them questions. They might not answer all and that is fine. But if they won’t even answer some common questions, like minimum account, regulating body, transaction methods (DD, ECN, etc), from a prospective client, then I am not sure they are worth giving them your business. Do not take everything any one person says here as gospel,my posts included. Do your own investigation.
Good luck with your trading.
You are right, that was also one of the purposes but it’s like an army of ants (a very small one at that) thinking about causing the trampling elephant or even a T-Rex to turn its course. You never know tho, the bewildered giant might get bored and set its sights on a different path lol.
I hope this isn’t off-topic, but I am running out of options in terms of funding my Tallinex account. Their support have been prompt in replying but haven’t been able to give me very helpful advice.
I first tried a bank wire, but it bounced despite the fact that all the details were accurate and confirmed by Tallinex (Deutsche Bank could not “find path” to TBI Bank in Bulgaria, but I still got charged $55 for initiating the wire). Then I tried my Visa credit card (the payment didn’t go through) and one American Express credit card (later I found out that they don’t accept Amex, only Visa and Master Card).
Would anyone who has successfully funded with Tallinex be able to tell me what bank they use for their credit card? I would be willing to get a new credit card just to get my money over there. Any advice would be much appreciated.
[I]Quote Tallinex: [/I][I]This thread is the only place where sensible discussion (about Tallinex, at least) appears to occur - the rest of the web is filled with generally baseless “xxxxxx broker is a scam” and other equally unproven statements by people who can hardly string 3 words together in a cohesive sentence!"[/I]
snort LOL ~ Sorry, your second paragraph made gave me a good chuckle. :18:
incog13 ~ I have used both visa & mastercard to fund my account. However, first you must notify Tallinex support of the card(s) you intend to use by providing them with a selfie photo that includes your face and the card you intend to use (by holding the card next to your face) with your name and the last four digits clearly showing. You might also have to notify your credit card so that they allow payment to go through.
I learned this by attempting to fund my account without first providing Tallinex with the required details. I received a polite email from support explaining the documentation necessary within minutes of initially attempting to fund my account. They are very prompt, and provided a detailed explanation of the extra info needed.
Hope that helps.
To the OP:there’s a lot of information here and I don’t see an explanation on the stipulations of being labeled as a “trusted broker”. May have missed it.
Go back to post #2570 on page 257, and read forward to post #2809 on page 281.
[B]FX Choice (Belize)[/B] and [B]Tallinex (St. Vincent and the Grenadines)[/B] were designated as Trusted Brokers on post #2628, based on discussion in this thread and on “general consensus”.
[B]Trader’s Way (Dominica)[/B] was designated as a Trusted Broker on post #2809, after a process of voting by members of this thread who chose to participate in the vetting process.
Unfortunately, there are so many possible reasons for a card being rejected by our payment services provider (this is not related to providing proof of card ownership to Tallinex) and is not under our control, but we try to assist where we can. If you open a support ticket and provide some details then we can try to investigate what caused your card to be declined.
As for Deutsche Bank not being able to find the path, that’s just ridiculous and I would demand that your bank refund the $55 fee. We have wires arriving daily from all corners of the globe so Deutsche Bank was simply being incompetent. I’m not sure where you’re located (I assume the US), or which bank you’re with, but Chase has no issues and neither does Bank of America if you prevent them from changing the SWIFT code (unless instructed, they often change the SWIFT to another their system presents and that mis-routes the funds).
I realise that it’s no immediate help, but we are trying to implement additional deposit options… the approval process just gets dragged out for brokerages.
I had an interesting experience one night a month ago, concerning both Tradersway and Forex Broker inc. I had anticipated a reversal from a previously resistant price level (price could not break upwards beyond level even after 3 attempts over several sessions), Anyway, so I placed sell limit order at a price point with both of the brokers. As I was watching, the market made a quick spike move right up to my limit order price and dropped back. So Tradersway honored the limit order instantly and Forex Broker Inc. did not. I did double and triple check the price on both of my sell limit orders and they were the same with both brokers.
As a followup to my earlier question: I was able to fund my Tallinex account using a debit card. It just dawned on me late that I could use that in place of a credit card.
There are two legitimate reasons for what you experienced…
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technically, limit orders require price to trade through the level (a carry-over from commodities days) so just touching your level isn’t guaranteed to trigger a limit order
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the broker may be operating a “True Limit” scheme where you either get filled at your price (or better) or you don’t get filled at all… at night, liquidity may have been too thin to get a fill if the broker doesn’t have access to a deep pool
Ok Thanks for the info, seems tradersway has access to a deeper pool.
I personally have no issue stating when I have a problem with a broker as I have mentioned with Tallinex. But to just blindly say something and not even give a specific and not give reason why to something is pointless.
This thread is probably the most useful place to find information on this subject and stuff like this is frustrating to read as someone who is always trying to research brokers. I’m curious as to how some of these people are even allowed to post on this forum.
Hi, Clint
Just wondering if you could update our telephone details on post #2?
The correct numbers should be:
+44-203-514-2400 (London) | +1-646-475-2199 (New York) | +1-855-241-2214 (St Vincent)
Thanks, Paul
Done.
Thanks for the heads-up, Paul.