Are you Coinbase level 3?
Trying to figure out why the delay for some account holders.
I don’t have a drivers license, so I’m stuck at Level 2…
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I’ve just made a small BTC deposit to finpro, using localbitcoins. Enormous transactions costs, but I only need to do this to access the leverage. So effectively, that cuts my leverage roughly in half.
If I can work with Coinbase Pro as small paul suggests, after their delays, I should be able to get the costs down.
Also, finpro offers free conversion to/from BTC and if I need BTC in the future, I can use that wallet. Seems convenient.
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im at level 2, i figure out how to get around it.
use coinbase to do a ach tranfer from your bank, it will be instant,
got to coinbase pro and select deposit, it will ask for bank or coinbase deposit, check coinbase deposit.
your money is now in coinbase pro, now you can buy or sell coins and if you want you can send or recieve your coins at coinbase pro
Perhaps my time delay is because my coinbase account is new… I don’t know. We’ll see how it goes in the future.
Meanwhile, I made a small deposit to finpro via localbitcoins using PayPal. Transactions costs were huge. Paypal premium was ~35%
Then I got a sudden insight, which will sound totally retro:
Why not make a cash deposit, in local currency, to the bank account of a seller in my host country? The national seller is in a different city, but their bank has a branch 500m from me. And the premium is only 3.6% for this kind of transaction.
Seems I have a local friend who’s into BTC… the same friend who turned me on to Forex in the first place. Great excuse to go pay them a visit.
Perhaps tech is NOT always the answer!
Though it is sometimes.
Maybe best results can be achieved by a well thought mix of both tech and old skool… availing oneself of the advantages of each while heeding their respective caveats.
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do not buy bitcoin thru your bank account, only do ach transfer from your bank into coinbase, after the U.S. Dollars are in your coinbase account send them to coinbase pro, then you can buy and sell and send and receive coins
Thanks for this… I definitely will not make that mistake again (buying BTC from my bank account).
I will probably try just walking to a local branch of a bank, depositing cash into the account of a seller from localbitcoin, and acquiring the BTC in that fashion. Then go home & transfer to my forex account. I went out for a little recon at the bank branch today & that should not be a problem.
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your still taking the long and costly road, but if it works for you so be it,
Just exploring. Poking my head down some different roads. Emphasis on “poking” – using small deposits, to see how different methods work, and being aware of what’s available.
Remember, I don’t get that instant transfer from Coinbase for some reason. But I’ve already made the deposits, so when funds become available, I will follow your procedure & see how it goes.
The more I think about it, the more likely I am to try the bank deposit/BTC purchase method. I was working a few months ago, getting paid cash in my hand each month, in local currency, with no way to get those funds to my forex account (or any account). So it’s worth it to see what’s available.
I am physically offshore, without a local bank account (because I’m not a resident), so I need to know my options.
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FINPROTRADING CHANGES ITS MT4 SERVER TIME
"This email is to inform you that from Sunday 30th of September, we will be changing the time on our MetaTrader 4 servers from GMT +0 to GMT +3. Over the years, we have received numerous requests to make this change as this makes our servers more EA friendly. Furthermore, GMT+3, is an "internationally recognized end-of-day time” in the forex markets. Once this change is instituted, you will see 5 daily candles per week making the platform more EA friendly.
Please note that this change will only effect the time displayed on MT4 terminal and there will be no change in actual trading hours. The trading hours will remain the same as per your time zone like usual. If you are a manual trader, you can safely ignore this email, however, if you are using EAs for trading you might need to make some adjustment from the current time of GMT +0 to GMT +3. Please reach out to our client support team via live chat or via email if you have any questions. "
FYI all of Coinexx MT5 terminals use GMT+3 as well, not sure if there is any connection there… Personally I don’t like it since I have to mentally calculate from chart times to GMT… But I guess it’s innocuous and I can’t see any conspiracy theories lurking in there…
hyperscalper
I have a friend who also had a holding period of 20+ days after first ach transfered. funds showed up almost instance in the account , but the holding period is where should be looked at. To my understanding, during this holding period, it cannot be transfered or sent to pro coinbase or anywhere else. The funds that credited in the ach transfer are not the available funds, so only after the holding period it will become available , and only after this can we transfer to pro coinbase
and btw he is on level 3
His second and third ach , the holding period decreased to 7 days from 20+ days…
I personally tried to transfer the funds to pro coinbase on the third ach during the 7 days holding for him on his account, but obviously it cannot until after the holding time frame.
My guess is this is your first ach, I could be wrong if so my apologies. Second ach and so on could decrease holding time if you still continue keep this as an option.
I agree with SmallPaul and thanks him for bringing this up. Pro coinbase is fantastic for buying, selling and sending cryptos with little or no fees if do limit order.
Hey, thanks for these details. You, small paul & Mr Invisible have helped a lot with figuring this out.
I’ve made my first 3 small deposits to coinbase, just above the minimum. The first was buying BTC directly from my bank account, which was costly, and the funds have a 32 day wait.
The second was to coinbase pro, in USD, with an 8 day wait, but no cost.
The third was coinbase (regular) in USD, with another 32 days of waiting, but no cost.
I don’t like it either. I put my computer on UTC 9 years ago when traveling from HKG to BUE, and never looked back.
Markets use UTC, and so does tradingview, my chosen charting service. I have seen some other charting services that have 6 daily candles in a week. Seems like finpro et al are trying to compensate for inferior charting capabilities… and now it all becomes clear: Look at your MT4 chart’s daily candles – there’s a small candle for Sep 23. No such candle appears on my tradingview daily charts, however. I wonder why they don’t fix the charts, instead of using a time zone very few traders use, care about, or relate to???
… tech doesn’t solve everything, but it does solve some things. It’s the modern equivalent of Maslow’s hammer.
im trying to figure out why they put a holding period after a ach transfer, they normally do that if you buy coins thru your bank. but you are allow to buy and sell coins and send them if your level 3
ok have you guys try doing a ach transfer to coinbase pro this way you can buy and sell coins and send them
this has never happen to me, i don’t know why.
What is an available balance?
Your “Available Balance” is how much you can withdraw or send immediately. After depositing funds directly from your bank account (not including wire transfers or debit cards), you will be able to immediately buy digital assets using your USD wallet. However, deposited funds are placed under an initial hold before you can take them out of Coinbase. You will not be able to withdraw these funds to your bank, or send digital assets you purchased using them, until your deposit has cleared from your bank.
What does funds on hold mean?
“Funds on Hold” are funds you have recently used to purchase digital assets but have not cleared and been deposited into your Coinbase account. Until your pending funds clear from your bank, you cannot withdraw them from Coinbase, or send any digital assets that you purchased using pending funds.
How long does it typically take for pending funds to clear?
Pending funds typically take about 5 business days to clear.
Please note that Coinbase cannot manually clear your funds. Clearing times are subject to increase based on account type and activity.
my mistake guys, i already have funds in my usd wallet that i don’t touch so when i do a ach transfer those fund could be on hold so im using my usd wallet funds when i transfer to coinbase pro and when my funds do clear from the bank it goes back into my usd wallet. my fault guys
Just got email from Turnkey forex about server time change to +3 GMT. So Coinexx, Turnkey & Finpro all +3 GMT
@hyperscalper long time coming & a very welcome change indeed. had been waiting for finpro to move to NY time like most brokers.
Using an EA on offset 0 bugged me a lot as well!
Yes that because there is server offset to 0 you ought to have a small candle for those 3 hours totaling the days candles to 6. This is a standard chart pattern with MT4s and MT5s when the broker offset is 0. Was with exness previously, they also had a 6 daily candles therefore transitioning to finpro wasn’t a big problem.
And trading view has their own customized platform cannot compare its functionalities with standard/native Meta traders
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Yea like FXPro, Pepperstone, Evolve Markets, tradersway, fxcm and many more. Its an industry “favourite”, internationally recognized server time offset that more than half of the world’s forex brokers follow.
Glad to see these brokers finally joined the bandwagon.
COINEXX MT5 PERFORMANCE SLOW
I’ve had a chat with Coinexx support on their MT5
USD denominated Forex accounts on the subject
of performance. At FinProTrading or TurnkeyForex
placement of a Limit (pending) order has a full
round trip time of like 80 msecs. But Coinexx is
showing 500 msecs and Market Orders are taking
near 1000-1500 msecs to confirm execution.
They say they will look into it, and get back to me…
Most likely there is an “aggregation hold” phase prior
to Order Execution, which I’m hoping can be eliminated
on request…
hyperscalper
Sorry to be a bone-head… does this mean turnkey’s close is 5 0’clock EST?
I’m embarassed to ask… I grabbed my dunce cap this morning.
KC