hey I believe FX Glory is now regulated in two different countries (Georgia and Bulgaria).
As things ramp up in my trading operation, Iâm getting more
experience with FinProTrading.com . I donât think Iâll be telling
any âsecretsâ which are not publicly available.
They emailed a client letter advertising âlower latencyâ and I think
I already addressed that by measuring right around 60-70 MSEC
round-trip Order Times (and thatâs subtracting out our 105 MSEC
ping round-trip time from our Miami, FL server).
THE âPROâ IN FinPROTrading is very definitely true. This is a brokerage
for specialist scalpers and other âPROâ traders in the retail space
at least.
The MetaTrader 4 Tick feed is so detailed and FAST that itâs actually
possible to âreadâ market direction off the Tick Chart on MT4 and
âseeâ when the BID is dropped due to a large Retail Seller. With a
bit of Analytics, this can help Scalping to determine when a market
is about to turn, even without a Market Depth to watch.
They did Offer a Colocated VPS Server, available to all clients, which
will offer a Latency to their servers of ONE MSEC or less. I looked
into this, but our software needs more Power than a VPS can deliver.
So we needed a Dedicated server. Their rep âGeorgeâ looked into
this for me, as they are working with Webzilla in their Colocation
of servers at their data center.
Ultimately, however, going with their quoted Dedicated Quad Xeon
offering was going to require a $200 / month fee, and so I thanked
him for getting the quote, at least. Note that their basic VPS colocation
offerings are much less expensive for less demanding applications.
Which brings me to our solution to this Latency issue by situating
a dedicated server in Amsterdam. Both Tradersway.com and FinProTrading.com
say their backend data centers are in Amsterdam.
SO I FOUND A DEDICATED HOST in Amsterdam, QuickServers.com
and they are offering a Intel Xeon E3-1225 - 16GB RAM - 250GB SSD
plus a basic DirectAdmin console for recovery, etc., and 25GB of
local on site storage for backup ISO images all for⌠wait for it !!!
Euros 58.00 / month so I think weâll shortly be situating a server there, and
expecting to eliminate much of our current 100 MSEC ping timesâŚ
Iâll get back to you on how this works in a month or soâŚ
Getting back to FinProTrading.com Iâd just like to continue to support
them as just about the best Iâve seen for really Demanding retail
scalping, if that is part of your strategy. Their support is very good,
and they are able to offer leverages in the 400:1 range. Other
performance stats, I could tack on here, but just to say I have NEVER
had any âoff quotesâ Order Rejections, and so this is simply a very
good brokerage, RESTRICTING my comments only to FOREX .
Good Trading !
hyperscalper
wow what non sense they have a rule 6.11 that says trades around news release will be invalidated. but it does not say anything about how long before news you can enter or how long after news you can exit. lots of profits were cancelled due to this :((((((
also if you hold a trade less than 7 minutes it will be cancelled. i had one for 6 minutes and 30 seconds closed in profit cancelled.
will never do business with them, hoping to withdraw everything and try another broker. But most are not regulated. Seems like only FX Choice in Group 1. :31::31:
Any broker with any sort of stipulations/rules like that should be avoided 100%. Canât believe something like that even exists. Talk about a bucketshop.
Iâve been seeing alot of talk of tradersway lately and how great they are.
Has anyone looked in their accounts at the withdrawl section.
I donât see âwire transferâ listed anywhere.
How in the world is anyone supposed to get their profits out after they reach the limits of withdrawing back to their card based on their deposit. Every other âprocessorâ is pretty much useless/not working for U.S.A
EDIT:
Sent an email to tradersway, wire transfers withdraw requests can be issued directly by emailing TW after all previous card deposits have been refunded.
[B]Tallinex Bails Out of the U.S. Market[/B]
The following notice now appears on the opening page of the Tallinex website â
If you go to the Tallinex sign-up page and attempt to open a live account, youâll get this notification â
I have not spoken with Paul Callen (Tallinex rep) about this issue.
I do not yet know whether Tallinex will be closing the accounts of existing U.S. clients.
More information, as it becomes available.
.
HI
Just talked to them. US existing clients are good. Who knows for how long?
THE DAY OF RECKONING IS HERE.
Just found out some pretty sad information regarding Tradersway.
Aside from their swap rates being pretty bad, which Iâve known for a while and accepted, their withdrawal fee for wire transfers is $95 usd! That is absurd.
My understanding, having spoken with them is that the $95 fee has been the case for
several years and is due to âbanking tariffsâ. Their recommendation is to use a credit
or debit card transfer for individual amounts < $10k. Again, if youâre doing a lot of
business with any broker, you may be able to get special terms.
Again, this appears to be the âoverreachâ of U.S. regulation imposing these conditions.
Consider that you may operate with 1000:1 leverage, as opposed to the 50:1 limitation
in the U.S. which may be a counter weight considerationâŚ
hyperscalper
Tallinex and FxChoice both offer wire withdrawals at $25 USD, somehow they figured out how to work around âbanking tariffsâ.
[B][U]Tallinex[/U][/B]
The criterion for inclusion in Group 1 of our List is clear â
Sadly, Tallinex no longer qualifies to be included.
So, barring any dramatic, new developments regarding this issue in the next day or two, I will remove Tallinex from our List, no later than the end of this week.
[B][U]Trusted Brokers[/U][/B]
I would like feedback from as many of you as possible on the following question â
Should we consider adding additional offshore brokers to the group we call âTrusted Brokersâ?
If so, should we use a polling/voting method, like the one we used back in March 2015, to designate one (or more) Trusted Brokers?
I wonât rush to judgement on this question. Give it a few days. Think about it. Then, weigh in on whether we should re-open the Trusted Broker debate.
.
Sorry, but that is misleading. Certain other brokerages have wider spreads, and/or
higher commissions and thatâs how they offer transfers at a âprice pointâ which
is attractive to traders like you. (Iâm not specifically naming the brokerages.)
The idea is simply to make much more money on your trading, and then make you
think youâre getting a great deal on a wire transfer fee⌠Think about it.
A brokerage relationship is more than a superficial factoidâŚ
hyperscalper
Hi everyone,
Long time since I posted here but I wanted to add another thing as Clint is going to be doing some housekeeping with the list. [B]Forexbrokerinc[/B] seems to not be accepting ANY new clients, let alone US. If you go to their website and click on the open an account link, it redirects you to [B]FXChoice[/B]. It seems that they have struck an IB arrangement of some sort and [B]Forexbrokerinc[/B] is not opening any accounts under its own business entity anymore.
Opinions? Maybe this disqualifies them from the list too nowâŚ
To add to what I just said above, the [B]Forexbrokerinc[/B] main webpage banner says âNew trading environments are on the wayâ.
Could be that this is a temporary business arrangement, or perhaps [B]Forexbrokerinc[/B] is restructuring/selling its brand to [B]FXChoice[/B] ultimately. Who knows. They had stopped accepting all clients for 1 month during August/September, began briefly to accept again and then this.
Thanks for the heads-up on Forex Broker Inc, Tom.
In the Forex Broker Inc listing (on page 1), I have added links to your posts.
The situation with this broker bears careful watching.
Please keep us updated on any additional information you are able to dig up.
.
Hi Clint,
Its been long I have posted but I always remain in touch with the developments over here. I strongly believe that we should certainly go for the new developments. Regarding your questions-
Yes we should consider adding additional offshore brokers to the group of Trusted Brokers.
And in my view polling would be a great method to designate any existing offshore brokers as trusted one.
Thanks
I understand that, which is why its even more frustrating with the absurd swap rates of tradersway.
Talk about money a broker is making off the traders.
And the spreads are only 0.1 pip better at TW than fxchoice.
Regardless Iâll try finding Joeâs email from tradersway and speaking with him about anything they can do.
â
Iâm still wondering when the Tallinex rep is going to chime in here.
Such a huge event to occur, some reassurance from the rep for the existing US customers would be appreciated if possible. Possibly some background info as to why it happened, if that information is able to be shared of course.
Hey, quick question. How is the Bitcoin process there? I know that the brokerâs site indicates that one can only withdraw Bitcoin when one deposited Bitcoin originally, which means one cannot deposit in USD and withdraw in Bitcoin correct (stupid FATCA)? Also, is the Bitcoin process through BitPay or something alike, or is it a direct payment? Does MT4 denominate in USD or in BTC? Thanks.
So for 2 months they kept silent about a complete broker transfer and played it down as if it was a server or software update over 2 weeks of suspended trading? Therefore personal information, identification scans and documentation will be handed out [I]outside[/I] of [I]ForexBrokerInc[/I] [B]without our consent[/B] and permission? They better provide account cancellations and complete information privacy. IBFX done the exact same thing in 2014 towards FXCM, yet they continue to fail to meet CFTC regulations inside the U.S. If Tallinex, which was supposedly a rock solid foreigner broker for U.S. citizens flopped, itâs a matter of time for FX Choice or Traderâs Way. For Traderâs Way, if accounts are denominated in Bitcoin, then shouldnât it be treated differently?
I do not know that particular case with the broker, but what you wrote down is actually widely used by all/most brokers. If you could deposit from one account and pay out to another one then that is called money laundering.
However you have a good chance if you deposit for example $1000 with card transfer, your account goes up to $1500 then you have to withdraw $1000 with the original deposit method (in this case card transfer), but you can choose how you withdraw the remaining $500.