I was just coming over here to say the same thing!
I checked with Pax forex and they do not initially offer it on the platform as you have to request it from your account manager. I was going to test them out, then got a bad feeling along the way
I already have an account with FinPro and Traderway. I don’t know why I ever left Finpro, but I am on my way back over there! They are pleasant to deal with and their execution speed is the fastest I’ve seen
That is after LMFX decides to give me my money!!! 10 business days and counting for a bankwire!
if you fund your account by wire transfer at finpro your sending your money to TurnkeyFX not finpro trading, so i don’t know whats the deal with finpro
I just found out about LMFX and i’m doing my research before I deposit any money with them. Seeing that you’ve worked with them since last June, how has your experience been with them in these categories:
1.) Platform
2.) Deposit
3.) Withdrawal
4.) Customer support
Any information that you have will be greatly appreciated.
FinProTrading.com does use the service provider TurnkeyFX.com . This service provider not only provides
trading and market data, but may have some role in
funding. It seems “normal”.
Also TurnkeyForex.com, another broker competitive
with FinProTrading, also uses TurnkeyFX.com as their
service provider.
NOTE: Don’t get confused. TurnkeyFX is NOT a broker
but a service provider to multiple brokers.
Now, I’m not sure which entity holds funds, but that
sounds like that would make sense and be “safe”.
DEDICATED SERVERS IN AMSTERDAM COST-EFFECTIVE
RECOMMENDATION.
EQservers.com (U.S. and Netherlands) , appears to be a Delaware
corporation.
Long story short, my VPS provider SeedVPS really does a good
job, in general, of providing very low cost service. My recommendation
for SeedVPS still stands…
However, I ran into an extreme situation where apparently I
was seeing “thread starvation” since I push the VPS pretty hard.
They refused to recognize this issue with the KVM virtualization,
so I bit the bullet and set up a Dedicated (non-VPS) system
through EQservers.com running Windows Server 2008 R2 Standard.
While they are rather intrusive about identity, card based payments,
and your personal information, it’s a solid and low cost service
with installations in the Netherlands.
I got an HP proliant blade server with
Xeon processor (8 threads) 16gb memory and way too
much storage for $79 / month !! So… these are completely
self-managed systems, so you need to scrounge up the system
admin skills, but it’s a sweet price.
I was seeing 2 millisecond pings from my VPS, but now with the
dedicated server, that is reduced to 0.43 milliseconds so overall
performance and network performance is very fast and solid.
the platform concerning trading is mt4. so no learning curve or difference there. their website/back office/ lmfx account wallet isn’t really the EASIEST site ever designed. but i figured it out because i’m not an idiot and my money gets a lot of my attention and effort. i highly recommend you check out the lmfx review comments on fourex piece armee because the lmfx employee Maria slays some dummy on there complaining about stuff like that. it’s liberating to read it, because i go to work every day having to treat idiot customers as equals or superiors. Maria is my hero.
the deposit rocked. i sent $5,000 via a checking account wire transfer. it was in my account in like, 2 days or something. the wire fee from my bank was $45. lmfx credited an extra $45 into my account as a reimbursement. they did it automatically. it’s not like i asked for it or submitted anything other than my wire t/f.
i have not withdrawn money yet. i’m aware that THIS is the big deal amongst those who dislike lmfx. well, maybe someday i’ll see. though i’d like to think that if they really truly legitimately were NOT giving people their money, the court of public trader reputation would snuff these guys out. for instance- anybody here even THINKING about funding a capital city markets account?? a few legitimate dollars disappeared and that broker got destroyed.
their customer support is great. they’ve been polite, quick to respond, and helpful. and like i said, i’m starting a local Maria fan club. i hope she keeps crushing rude a-holes on the review sites.
my only issue with lmfx thus far, if i try to find something- is that their site does not have any way to track your trading volume towards earning your deposit bonus. it’s a match bonus. so…i received a $5,000 bonus, meaning i could trade with their leverage as if i have $10k in my account. but obviously that isn’t MY money to withdraw yet. i have to meet some hefty trading volume requirements first. i hope that i’m lucky/good enough to be trading long enough to meet that volume. but that’s down the road. i’ll deal with that when/if it ever matters.
if you have account with finpro trading all you have to do is go to deposit funds by wire transfer and you will see it has the bank where the funds is going and the company where the funds is going and it say Turnkeyfx, very easy to confirm if you have account with them, so your funds is going to turnkeyfx and not finpro trading
HMMM… could be just acting as a “money transfer agent” for
their brokerages… They also handle crypto transfer mechanisms.
The name “Turnkey…” suggests they offer comprehensive services
to brokers on a “turnkey” basis…
i have account with finpro trading i never fund that account when i saw my money was going to turnkeyfx and not to finpro trading, they say there parent company is Finvasia if this is true then there is no need to outsource your banking witch is never done in forex
BTW Turnkeyfx offer broker start up service to people who wanna start a forex broker they also have the same address as finpro trading, FinPro Uk – head office 79, College Road, Harrow, Greater London, HA1 1 BD, United Kingdom :
My deepest condolence for my obstruction of your time but it came to my attention that this broker called “JAFX” is accepting US Customers… but I only found a “?” after that name on this forum, can you guys take a look again?
BTW this is at the bottom of their page and I quote:
Website operated by JAFX Ltd, The Financial Services Centre, Stoney Ground, Kingstown, St Vincent and The Grenadine.
Payment services by JAFX EOOD, Sofia 1463, Triaditsa District, Prestige Business Center, 49 Patriarch Evtimii, 4th floor, Bulgaria
It appears that you joined this forum a few hours ago for the express purpose of bringing JAFX to our attention. Are you an IB for JAFX, or otherwise affiliated with this broker?
Here’s what I have dug up about JAFX –
JAFX Ltd is incorporated in St. Vincent and the Grenadines (SVG).
Their online documents do not make clear where they are physically located, except that:
• they have call-centers in the U.K. and in Australia (see the Contact Us page on the website)
• clearing and billing services are done by some entity in Montenegro (see Terms and Conditions, upper section, para. 59)
• payment services are provided by a JAFX entity in Bulgaria (see the fine print at the bottom of each webpage)
This broker appears to be catering to U.S. persons (residents and/or citizens), while maintaining “plausible deniability” in the event that they have to deal with U.S. authorities.
At the bottom of each webpage, JAFX states that their site is “not directed towards soliciting citizens or residents of the United States.” However, much of the language in their Terms and Conditions is specifically directed toward U.S. persons — example, the reference (below) to a Section of the Internal Revenue Code, a provision which applies only to U.S. persons.
Most alarmingly, JAFX requires live account holders to certify that the funds they are depositing do not come from the United States. In other words, the U.S. customer must lie about the source of the funds, so as to exonerate JAFX of any knowledge or responsibility regarding the source. In the process, the customer risks charges of fraud or money-laundering for lying about the funds. That’s a great way to start a broker-client relationship, wouldn’t you say?
The following is copied-and-pasted from JAFX’s Terms and Conditions:
• FOREIGN ACCOUNTS. Customers not residing in the United States (”Foreign Accounts”) may be asked to comply with requests for special information by JAFX as required by any governmental unit or regulatory agency. (T&C, upper section, para. 43)
• Customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from the United States of America or any country on the Office of Foreign Assets Control (OFAC) List. As such, Customer agrees to comply with any request to provide additional documentation that is requested by JAFX and its representatives. (T&C, bottom section, un-numbered paragraph following para. 29)
Finally, JAFX makes it very clear that customer funds may be moved from customer’s account to another account, at the sole discretion of JAFX. Furthermore, customer funds will be commingled with the broker’s own funds, and may be used by the broker for any purpose, including security for loans or proprietary trading. Are you comfortable with that?
Here’s additional copy-and-paste:
• Authorization To Transfer Funds. Customer hereby agrees that JAFX may, at any time and from time to time, in the sole discretion of JAFX, apply and transfer from any of Customer’s Accounts with JAFX to any of Customer’s other accounts, whether held at JAFX or other approved financial institutions, any of the Contracts, currencies, securities or other property of Customer held either individually or jointly with others to another account. (T&C, middle section, para. 29)
• Agreement To Use Collateral. Customer authorizes JAFX to sell, pledge, rehypothecate, assign, invest, commingle and otherwise use any Collateral held by JAFX, including, but not limited to, using the Contracts as collateral for a loan to JAFX, and, further trading with the Collateral, as provided in the Customer Agreement (including, but not limited to Paragraph 6 thereof). Where Customer’s Account consists of more than one Account, this authorization shall apply to all of Customer’s Accounts with JAFX. This Agreement to Use Collateral shall remain in effect so long as Customer’s Account with JAFX remains open or Customer has any obligations of any kind to JAFX, under the Customer Agreement. (T&C, middle section, para. 30)
I guess now we can remove the question mark following SVG in the listing for this broker.
Thanks Clint for your prompt response and research. That was the reason I brought up (to know if I could trust them). After your reading your response I’m now convinced that JAFX might not be a good option. I do not hold an IB with them or any type of account/registration, etc. No
I thank you again for steering this vast savanna of knowledge everyday. And yes I’m new but I’ve been reading this forum form top to bottom before posting, always finding my answer.