If regulation groups cannot bully brokers into compliance due to jurisdictional restrictions, then they will target money transfer methods.
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Yes, if people are using services like Coinbase to purchase cryptocurrency and/or transfer funds to their bank account etc., then they will be flagged once their Coinbase account sees 20k or more of transfers and their information will be handed over to the IRS for auditing purposes.
The IRS hired a software company to developed a program that can scan crypto addresses to see if you are trying to hide anything.
That said, there /are/ tumblers, stealth addresses, dark wallets and other ways to obfuscate transactions, should you choose to go that route.
Sites like localbitcoins allow peer-to-peer buying/selling of crypto without the need for a bank account, but you will likely pay a premium.
There are many ways to trade anonymously, whether you want to trade crypto or FX.
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1 way could be to distribute your transactions between: kraken, gdax, gemini, etc. That could help keep you under that 20K limit.
To be clear, for anyone that may be reading this, I do not advocate tax evasion. Tax avoidance on the other hand, is perfectly legalâŚwhich is why anyone that is trading for a living should seriously consider moving to a country that has little-to-no capital gains or cryptocurrency tax etcâŚ
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im not a fan of the recent release of stable coins especially gemini. But Paxos and TrueUSD are safer than tether. I prefer Maker/DAI and Haven Protocol, but Haven is still being developed.
Clint, you did amazing job. Thank you so much for sharing this information with forum members. I personally and currently am not in need for one offshore broker but it would be so useful for people from countries where there are some imposed restrictions on forex trading
MERRY CHRISTMAS !
This thread and @Clint 's tireless
guidance and hard work are greatly
appreciated; and Iâm sure the vast
majority agrees with this sentiment !
Personally this information has been
critical for my trading business.
So âHappy Holidaysâ and letâs all resolve
to make even more progress in 2019 !
hyperscalper
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Under maintenance here. Normally, I wouldnât worry too much about something like that, but a quick search shows that their facebook and twitter accounts are both unavailable which is really not good. I do not trade with FinPro, but hopefully I am wrong.
Have an account with them. Not much worried about the website upgrade. My Ac manager told me they are going to do some changes to the website over the holidays. Curious about social handles though. Will email them and check.
turnkey forex has change there address they are no longer in the U.K.
HEADQUARTERS
5th Floor, Ebene Views
66C2 Ebene
Quatre Bornes, Mauritius
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Good on them. They should nvr hv been in UK IMO
Will they be open to trade tomorrow? Or are they shutting down their platform until after Christmas? This concerns me. Especially such an amateur looking message on their webpage and the fact they didnât send an email out to client explaining the website upgrade.
Speaking of email notifications, here is one from Coinexx outlining their trading schedule for the next few days:
Got an email from FinProTrading. Did anyone else get it ?
It looks like Coinexx is in for some serious stuff. I know of few pals who have been contemplating making the move and it looks like they been reading minds
Waiting for my account manager to give me a call, need to understand how my account transition will work. Have account with both of them not really sure they merge them or keep them separate⌠lots of questions.
Will update when I hear from them.
But a very welcome change, have been getting inclined towards Coinexx off late!
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same here!
my account manager just called, nothing changes as such, finpro client area details will start reflecting in coinexx client area and mt4 accounts will with work with same logins, everything is auto merged if you have accounts on both brokers. And funds (fiat) stay where they are.
yes
I just got the email from finpro as well. That is at least better than worrying about them going under! Haha
I used to like coinexx but noticed they started to have slippage and orders executed slowly during news events. Hopefully this gets better now.
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I had allocated 20% of my funds to Coinexx & always liked them but was too comfortable with finpro to move out. But never had slippage issues though. Im looking forward to it
Merry Xmas @smurfman111
Merry Xmas to you too!
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