Thanks for the in-depth response. I also took a look at the reviews on ForexPeaceArmy and Maria is amazing. Idk who she is, but she doesn’t hold back on anyone. Thanks for clearing things up for me. I appreciate it.
[quote=“NewGuyToForex, post:4963, topic:35612, full:true”]
… i highly recommend you check out the lmfx review comments on forex peace army 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.[/quote]
[quote=“CallHimKev, post:4975, topic:35612, full:true”]
I also took a look at the reviews on ForexPeaceArmy and Maria is amazing. Idk who she is, but she doesn’t hold back on anyone. Thanks for clearing things up for me. I appreciate it.[/quote]
She is Maria Bachvarova. She has been representing LMFX ever since that broker was first brought to our attention 2 years ago.
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Awesome. Thanks Clint.
Seriously?! That’s nuts. I was going to make the jump to get into LMFX, but if I can’t withdraw a simple $500, I’m not sure I can confidently trade with them.
I’m going to give LMFX a shot over the next two months and see how my experience with them goes. So far, I’m loving their customer support as they’ve gone far beyond my expectations towards helping me get my account verified, answering my questions and overall providing excellent service.
Further information, i’m using their premium account. I signed up with no bonuses (assured that with customer support) and will be investing little by little and i’ll make a monthly withdrawal to see the process.
Talking to the customer service line, they mentioned that you can withdraw the full amount that you deposit with your Visa/Mastercard (i.e. deposit $5,000, make a profit of $2,000…$5,000 will return back to your account via same method of deposit, and profits will be deposited via wire transfer).
So let’s see how it goes.
Best of luck, Kev. Please keep us up-to-date on your deposit and withdrawal progress.
Trade well!
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keep us inform you never know until you try
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USING CRYPTOS AS A FUNDS TRANSFER MECHANISM ONLY
I’d like to suggest that Cryptos can be of assistance in transferring funds
to/from the brokers who provide a Crypto wallet, whether or not they have
“native” crypto funding.
For example, FinProTrading USD accounts can be funded through
Crypto transfers to/from their wallet. Funds would be held in the
Crypto wallet only as long as the transfer requires, so we are not here
“trading” BTC/USD or anything like that (although that is possible).
BTC can be used, in my view, now that BTC is fairly stable. We are
not concerned with the BTC/USD exchange rate if we’re going to
do a quick transaction USD (from broker) --> BTC (in broker’s wallet)
and then send BTC to (for example) a Coinbase BTC wallet and
then finally Sell BTC into USD for transfer to your Bank.
If you would prefer not to use BTC, and use LiteCoin or
Ethereum instead; then transfers to/from BTC–>AltCoin
are easily done through Shapeshift.io as an Intermediate
step (requires some practice).
So I’m saying that Cryptos can be used as a Funds Transfer
mechanism while exposure to Crypto/USD exchange rate
fluctuations can be minimized.
Would be interested to hear others’ reaction to this approach to
funds transfers.
hyperscalper
Day 1 Experience with LMFX:
For safety reasons (and for my suspiciousness), I decided to test out the payment and withdrawal system. Each time I made an attempt to deposit the minimum amount ($50), I kept receiving an error code: ZM-ERR1. According to the customer representative, the error came up due to either (a) error’s in my typing or (b) my bank placing a restriction on the merchant.
option (a) is easy to fix, but unfortunately that wasn’t the case. I made 2 attempts to make the transaction but as I couldn’t get my bank to remove the transaction, I decided to try and make an attempt with Skrill (depositing money to Skrill, and authorizing Skrill to fund my account)
Attempting that method failed as well. At this point, it’s been too much of a hassle to go try anything with LMFX. Their customer service is amazing, but due to the many attempts to simply fund my account didn’t work, I’m not going to pursue my ventures with them any further.
It seems that I’m not the only one with issues with their payment processor. A few members in this forum had withdrawals that weren’t seen in their account (or still pending) for more than 40 days.
Instead, I’m going forward to try with Trader’s Way and start things off. So far, the registration process has been smooth. I’m waiting for 48 hrs to get my account verified before I deposit any funds. They due in the assets available to trade (indices, commodities), but i’ll I can work with that.
TL:DR - Tried to deposit funds in LMFX, failed miserably due to the US banks blocking the merchant. Moving forward to Trader’s Way.
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Anyone have news re: Dodd-Frank repeal?? Google didn’t yield much. Bill S. 2155 passed out of committee at end of year, but I can’t figure how it will impact our trading or when it will go to Trump for signature.
Forbes article here: https://www.forbes.com/sites/norbertmichel/2018/01/09/senate-inches-closer-to-financial-reg-reform/#6d210c9e465d
TURNKEYFOREX.COM POSITIVE REVIEWS PAGE
I must admit that I’ve been busy on other things, and have not
had much direct interaction with TurnkeyForex.com other than
opening an account. But we know they use TurnkeyFX.com as
a service provider so technicals will match FinProTrading.com …
hyperscalper
HyperScalper,
Thanks for linking us to this. I’ve been having a hard time searching for the right broker to go to as most of them have issues with withdrawal (funny how they accept deposits easily, but withdrawals are damn near impossible).
Hi everyone,
I just wanted to write a quick note thanking everyone involved with this thread and the countless hours that is has taken them to maintain such information.
I am from the US and have had multiple brokerage accounts with numerous brokers including the ill fated Interbank FX and FXCM. I wanted to chime in and let everyone know that after years of reading the posts on this website that I recently registered and decided to post.
I am so tired with the stupid rules that the so called financial regulators have imposed on us in the US. Based on the information contained in this post I picked my next broker, TURNKEYFOREX.COM. Their customer service to get the account opened was great. I spoke with 2 guys, Ben and Barry. I am now going to deposit a small amount, 1k, in an account and see how it goes. I know they are not regulated but I have been burned before by the so called REGULATED brokers so I am giving these guys a try.
I will chime in with more info in the next few months as I progress with them,
Thanks again,
Nico AKA DyNaPip
Hi DynaPip,
I, also, opened an ECN account with TurnKey Forex last week and the team there provides great customer services. Barry was one of the gentlemen I spoke with too and he helped me with everything right away.
They gave me a call the next day to ask if I had any questions and the bitcoin transfer to deposit funds into the account is phenomenal. The deposit from my bitcoin wallet posted to my account in the matter of 10 mins. (Same with FinPro).
The execution in the market has been great thus far, so I hope to bring more good news back into the feed soon.
Also, If there’s any one who has had the opportunity to withdraw from either TurnKeyForex or FinPro, please provide your feedback.
Trade well.
-Don (Pipconomist)
TURNKEYFOREX.COM SEEMS TO BE RAMPING UP
I’m really happy to see they are improving their client portal, and
are clearly ramping up an operation. This is an opportunity to
get a good deal and good service. My interest is to have a broker
this is also competitive with FinProTrading.com since, as I’ve
said before, it looks like TurnkeyForex.com as a broker is
relying on the same service provider TurnkeyFX.com as the
FinProTrading operation. This is technically the very best
couple of brokers we have for Forex.
I don’t do anything but mainstream Forex, so my comments
don’t apply to CFD’s or whatever else is out there…
BOTH are fundable by crypto currency, specifically BitCoin
(BTC) but, as I’ve said before, any Crypto can be “shapeshifted”
into or out of BTC by using a service such as ShapeShift.io …
hyperscalper
HyperScralper,
I agree 100% with your statements above. My question is regarding their withdrawal process; how would you rate their withdrawal process?
By the way, thank you for all of your help.
Best,
Don (Pipconomist)
Hmm, interesting! Did you disclose that you’re in the US? And what type of verification was needed?
I just use Crypto to deposit/withdraw, and so I really can’t
say anything about the other available methods… Crypto
is usually fairly smooth, even if you have to convert from
Account Fiat USD -> Wallet BTC ->ShapeShift(BTC->Ethereum) ->
Coinbase Wallet -> USD -> Bank which seems worse than it really is…
hyperscalper
Yes, TurnkeyForex.com deals openly with U.S. persons.
Same with FinProTrading.com
hyperscalper
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Got it. Thanks!
I was hoping it would be as smooth as the Bitcoin Deposit. I appreciate the feedback.
Trade Well.
Don (Pipconomist)