Thanks for this explanation, Paul.
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Thanks, HyperScalper, for drilling down into the functional details of the CCM platform.
Your broker comparisons are thorough and informative.
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Thanks for the info
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The CFTC has just added 71 brokers to their HIT LIST ā the so-called CFTC RED List.
Two of the 13 brokers on [I]our List[/I] ā [B]FinproTrading[/B] (UK) and [B]TradeWiseFX[/B] (SVG) ā are on this Hit List.
Here is a screen-shot of the additions to the RED List. (Note: this is not the complete RED List.)
Here is the CFTC press release, issued today.
More on the Red List in a later post.
At that time, weāll talk about what the RED List means to the brokers on it, to us (their clients), and to the future of retail forex trading in the U.S.
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It took four government staffers just over a year to update this? Whatās worse, is they didnāt bother to remove the dead ones. Worse than that, they are missing a few new ones I recently found (and am still checking out).
Traderās Way and FxChoice have been on the RED list since Aug '15. Iām not too worried. Hereās the link to the full list which can be sorted.
Why pay 4% to use debit/credit? I sent TW $500 to open after Tallinex booted us and was charged $520. That was my last card transaction. Forever. Take the time to setup and understand Bitcoin. You wonāt be disappointed.
Wow, thatās an impressive thread! Big thanks to all the contributors, much appreciated!
I have discussed bitcoins before on this thread but aaceofspadesās comment prompted me to do so again.I try to read as much as I can about the bitcoin and continue to harbour belief about its legitimacy. Iām surprised to see many here view that bitcoin is going to die and that FED/governments will shut it down. I think nothing could be further from the truth. I think in general any big company and any other currency can go down faster than Bitcoin today. As long as there is technological progress Bitcoin will be going up. Most tech companies submerged in Bitcoin believe its value will rise astronomically in decades. What makes them think that, perhaps time will tell. But as of date it is the easiest way send funds across and withdraw from offshore brokers for us, US traders, with CFTC choking offshore brokers/banks that accept funds from US traders. I think we should have a list of brokers that accept bitcoins or can research and let Clint know which brokers from the existing list accept bitcoins
I had a weird request to finalize my deposit, broker wants a picture of me holding the card. Just a visual picture. Is that normal?
It is normal. They are making sure that you are the owner of the card. When you upload the card you make sure that only the last four digits are visible. This will keep your card private and will prove to them that you are not using someone elseāsā card.
tallinex does that and now capital city markets require you show picture of you holding the card
Thanks for the replies, yea i did it and they finalized my initial deposit so no worries so far. I will let everyone know how this broker performs in my personal opinion.
I spoke with all the brokers from the A list to see who all accept BitCoins.
Here is what I found
[B]FinPro Trading[/B] : BitCoins Accepted as a payment method. Their client support says that a much more integrated solutions is coming out shortly. Will look forward to see their āIntegrated Solutionā when it is released.
[B]FX Glory[/B] : they use OkPay method (While making a deposit client must choose Okpay and after clicking on it sub methods will appear.). It is not more advantageous than just having an OKPay account.
[B]FXChoice[/B] : BitCoins Accepted as a payment method.
[B]Adamant Finance[/B]: BitCoins Accepted as a payment method.
[B]LQDFX[/B]: Yes. BUT For Bitcoin, you will be provided with their Bitcoin address to which you will deposit your funds that are then transferred to your trading account. Very basic set-up.
So far, its a good progress to see that 5 out of 13 odd brokers we have on the āA Listā accept bitcoins. But I dont really see them using the true potential of BitCoins. Ideally, if these brokers get āTruly Integrastedā they can extend the ability to send / receive / buy bitcoins as well as fund the trading account with BitCoins.
Its great to see that there is healthy progress and these brokers are accpeting bitcoins.
Anyone else out there with experience in actually using BitCoins as a transaction method with these brokers.
Tradersway accepts BTC as deposits and withdrawals.
Thereās also SimpleFX as well, the spreads are a bit high tho. However they do let you trade in the native BTC currency as well trade BTC.
Thanks for the update.
But trading with BTC as your account denominated currency would be a disaster. Assume that you are using 100% of margin on your account and BTC fluctuates by 10% (which is normal). There are a few brokers for example whaleclub who only give you a BTC denominated account which means that your account is subjected to BTC volatility.
Given the characterstics of BitCoins, it will be the future of offshore forex trading (with total safety from CFTC). We need to have some decent brokers who support bitcoin wallets within their ecosystem. My search is still on 
Any inputs readers ?
Yeah I wouldnāt want to trade FX in the native BTC currency either, but some do. 1broker.com has created a bit of a niche for themselves as well as simplefx. Itās just the spreads are higher then a cats a$$ lol.
Actually, the spreads at SimpleFx are very fair on the Forex pairs. Better than Tallinex and many others.
@whywescalp ā Thanks for researching this.
I will add a [B]Bitcoin logo[/B] to the Group 1 Brokers that accept Bitcoin (when I get a Round Tuit).
@Cryptosurf ā thanks for adding Traderās Way to the Bitcoin list.
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Hello Guys thanks for your great insight, my question is thisā¦
I have recently started an account with Finprotrading and have enjoyed their service, so far I deposits a few hundred through coin base and money was in my account in 20 mins. Spreads have consistently been very low and the customer service has been spot on.
With that being said Iām not here to totally sing their praises but more ask your opinion,
I believe Iām ready to deposit a few thousand with them, but my concern was the fact that they
just made that list from a few posts back (RED LIST) and wasnāt sure what the implications would be for current clients. Not sure if i shouldnāt worry or if i should go with someone else, Iām all ears.
Has anyone else had a good experience with Finpro trading on a larger scale that could give me your honest opinion (and are they considered a trusted broker at this point clint?) I havenāt experienced withdrawals yet so i was wondering if anyone could vouch for them with withdrawals.
Right now Iām just looking for which broker I should trust with a larger percentage of my trading fund being that I have an account with Traders way as well and just want to hear from you guys before I deposited it to either.
Lastly is there any reason i should be hesitant to wire the money as compared to other means of transferring funds.
All-in-All just looking for someone to weigh in on finprotrading in-depth for me, and give me some perspective on the ideology when it comes to deposits.
Hello, idw5021
As you have correctly noted, [B]FinproTrading[/B] was recently added to the CFTC RED List. And your concern about what this might mean going forward is understandable. In my view, the RED List is worthless bluster on the part of the CFTC, and I think you can safely ignore it. More on that in a moment.
You mentioned having an account with [B]Traderās Way.[/B] What you may not know is that Traderās Way has been on the CFTCās RED List since August 2015. And yet, in the 20 months since Traderās Way [I]made[/I] the RED List, they have remained out of the CFTCās reach, and we continue to consider Traderās Way a TRUSTED BROKER.
My recent POST showed the latest additions to the RED List, but did not show the entire list.
Hereās a LINK to the entire CFTC RED List.
Find the box that says āShow 25 entriesā, and change it to āShow All entriesā.
Returning to my comment above that the RED List is CFTC bluster, this RANT was posted shortly after the CFTC released their original RED List in September 2015. I stand by the comments in that rant.
You asked whether FinproTrading is a trusted broker. In my opinion, they have proven their trustworthiness, and deserve the TRUSTED BROKER designation. But, Iām waiting for a consensus to form in this thread regarding FinproTrading, before applying the label to them.
Welcome to this forum, by the way!
And thanks for your contribution to this thread.
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