Going offshore to escape the CFTC

thanks will stay away from them then. spread manipulation is a common compliant about them and i rather learn from others mistake then making one myself

well so far they look good and the execution quality has been pretty consistent. and had i been trading crazy lots with max leverage i wouldn’t blame my broker

On the flip side, I am hopeful that this will foster wider adoption for cryptocurrency, not just for deposits/withdrawals/transfers etc., but also banking options and pay cards.

" well so far they look good and the execution quality has been pretty consistent. and had i been trading crazy lots with max leverage i wouldn’t blame my broker"

lol so your one those- i don’t wanna cause them any additional grief kind of traders even if you see something wrong. :rofl:

Speaking of which…another crypto card that is slated to be released in the US (can be used anywhere that accepts Visa):

3 Likes

Yes offcouse I AM “one of those” who choose to trade with the brokers listed here and have been doing fairly well. No complains so far AT ALL.

And im certainly “one of those” who is not in denial that we ( as in us ) only have these brokers who are tried and tested by fellow traders on the thread and have been consistently good

Reading from what you have been posting lately (no offense, which seems some kind of a well thought agenda ), im just wondering on whose side are you the offshores or the cftc puppets?

1 Like

im on the side of traders to make sure these offshore broker stay a little honest, it’s so easy to rip traders off because they so desperate to get away from the nanny state and end up tossing there money around like fools and make excuses when these brokers rip them off. but that’s just me hope you continue your success

1 Like

We are on the traders’ side, not anyone else, no matter it is cftc or offshores brokers, and if they have conflict of interest with traders, we are against them.
We are with offshores brokers only when they help us, not when they hurt us.
So put traders’ interest at first place, not offshores brokers’ interest at first place, especially when these brokers have conflict of interest with us traders.

1 Like

I don’t see that ECN based brokers have any “conflict of interest” with
traders. That’s from a bygone era, I’m pretty sure. Now, of course Liquidity
Providers absolutely do have a “conflict of interest”. When they Buy against
your Sell action, they are betting against you.

Oh, wait ! That’s just called “Trading” … :slight_smile:

hyperscalper

1 Like

Of course they do.
If:

  1. They charge very high commission like $20 or $30 per lot(RT);or
    2.They charge low commissions but sometimes close you positions at 70 pips away from market prices.

That trader’s big loss was not due to high leverage, nor Liquidity Providers, because right prior to his positions closure his account balance showed an unrealized profit.That means if his positions were closed at market prices, he would only incur a much smaller loss due to his GBPUSD position movement.

I also trade on news and NZDUSD pair too

close out price on NZDUSD not even remotely close to the market price . I mean not even close,
at least on their own chart, turnkeyfx and evolve, all of which I have

What kind of slippage could be expected on trades of this size during an automatic margin close-out?
This question is key and not rhetorical.
I have no point of reference as I’ve never tried trading anywhere near 210 lots at 500:1.

Tradersway also had this problem with extreme price fluctuations. They blamed it on their liquidity provider. Haven’t really seen this issue with Finpro. Coinexx is questionable, but maybe that’s the reality dealing with these offshore brokers. I’m just glad the brief price fluctuation wasn’t as bad as Tradersway.

Jeez, I’m as willing to “stick it to the man” as much as the next guy, but not in this instance. But good luck to all for sticking to their convictions!

Again, thanks for analyzing this. So, in trying to help my associate deal
with his Skrill into Cryptos, I found that (as he is in Europe) using BitPanda
is likely to be one of the best ways.

The central issue with Skrill --> BitCoin would be that Skrill transactions
are “reversible”; however, BitCoin transactions are “irreversible” and that
is the main reason why the two mix like “oil and water”… However, BitPanda
does permit Crypto purchases with Skrill, and I think you may need to
waive the “reversibility” of the Skrill transaction…

Here’s an article I found, wherein the BitPanda option, to me, appears
to be the best one.

[EDIT] BitPanda is not available to U.S. persons; this is European only.
For U.S. persons facing the problem of Skrill --> Crypto, maybe there
is a solution in the article cited below…

https://www.buybitcoinworldwide.com/buy-bitcoin-skrill/

Skrill’s own “internal option” is, as @Clint pointed out, pretty useless.

hyperscalper

Any questions I can answer for you or information I can help provide?

I’m not sure if this was directed at me but that little thingy in the upper right hand corner appears that it is?
If so, no, I’m good. I’m old, set in my ways and happy with the platform I’m using.
Everyone is so helpful around here!

1 Like

Is Finpro website down right now? I’ve seen this happen a couple times over the last few weeks. Do we have anything to worry about with Finpro?

no it’s not down but very slow at the moment, i just put some money in last week so i hope there is nothing to worry about.

i am a little worry about turnkey forex and coinexx who is using turnkeyfx getting very bad reviews lately, the turnkey forex review is very bad they making a trader life hard with his withdrawal

was you trading with coinexx?

I have live funding, trading with coinexx, turnkeyfx both since July

I even traded GBPUSD on that day, on same news, with coinexx of date 2018-10-16, beginning at time frame 11.31.55 to 12.01.08 to be exact .

Going long during that time, and the ask price for me never pass 1.32065
I can take screen shots upon request

The time of his was 11.29.40 at 1.32811
The time of mine was 11.31.55 at 1.32065

For consideration, news came out at 11.30.00