@HyperScalper Thank you for the explanation! It also helps you have given good feedback for coinexx spreads for the folks like me that use scalpers 
Yeah, like I’ve said before, I control code that scalps a Dukascopy
account, and does instantaneous “copy to slave” where the slave
account is Coinexx. The Coinexx “slave” makes 50% more money !!!
My operation is a scalable fairly near target scalping approach, so
these are huge cumulative advantages ! aka “They really add up!” LOL 
[EDIT] I’m hoping to generate some volume and negotiate what someone
said (on this forum) was a possible negotiated $1 per $100k versus the default
$2 per $100k round turn at Coinexx. Also, I’m interested in getting some
decreased latencies by bypassing their MT4 aggregation logic; something
I was able to do at another broker.
Schematically and conceptually, it was like this:
So when the former broker did this, my round trip order
latencies immediately went from 800 msecs
down to around 250 msecs.
hyperscalper
It’s hard to say regarding the regulatory status of things like BBOD. With such vague interpretation I’m not sure if you could claim to be an IBC trading at it, or a corporation, or any such loophole. Since ‘resident’ is a broad term, not citizenship. I’ve seriously considered staying in Portugal part time, but again that’s just not plausible if their legal stipulations forbid me to trade while in the united states ever.
It’ll be a nightmare for taxes, and I’m under the impression the only thing that is approachable from a tax standpoint is Coinexx. Honestly I can’t see any reason to let Coinexx know I’m American, given the liklihood of rules changing.
The only benefit perhaps to BBOD is that they can liquidate positions, ban your ip and email, but they shouldn’t have the funds, neither they, nor the authorities should be able to seize the wallet. But then again I don’t really trust True USD. All they would have to do is report the wallet to the True USD people and it would likely be able to black list or freeze it. Stable coins are antithetical to the spirit of crypto, frankly.
I really need a good tax attorney to figure out the interpretation of a ‘trading entity’ as a ‘foreign resident’. For me accumulating millions in crypto matters.
Again I doubt the IRS cares about the source if they get the foreign controlled corporation audit, but they could easily rat the exchanges out to the SEC and CFTC.
I mean I guess if you want to take legal interpretation to the extreme you could live in Europe part time and only trade there. I honestly don’t know.
In all of the cases that I know, residency is not synonymous with citizenship. As a US citizen, you can obtain residency in a foreign country without renouncing your citizenship. Expatriates sometimes apply for residency in order to obtain a work permit or avoid other visa hassles etc… The laws are different for each country. That being said, I would recommend inquiring about it with whatever service you are looking at, just to be sure.
Most services do not actively scan IP addresses, with the exception of their homepage or during signup etc… But you can usually use a VPN to bypass this. Once you are signed up, you are usually good to go. You can continue using a VPN, each time, if you are worried.
There are cases where someone’s IP might be erroneously flagged (e.g. geo-location is incorrect, data is getting rerouted or user is trading during flight layover or traveling etc.), so I am sure that they are aware of such cases and will work with you to resolve it in lieu of banning you outright. If you have concerns regarding trading while inside of the United States (while ‘traveling’), just ask about their procedures beforehand. They may just tell you that you cannot trade while inside of the US, though.
Not all countries have reciprocity agreements or treaties with the United States, which can curtail the jurisdictional overreach of some of the regulatory bodies that are trying to bully everyone into compliance. Likely, one of the reasons why so many brokers set up shop inside of St Vincent and the Grenadines, for example, is because St Vincent does not categorize spot forex as a securities product, so it does not fall under securities regulation and does not need additional licensing. Because of this, unless CFTC or other groups can prove that brokers are violating some US law, then St Vincent has little reason to accommodate Memorandum agreements, presumably. Getting brokers to state specific reasoning and their thought process behind servicing US clients may be easier said than done, unfortunately, and without spending a great deal of time researching the subject, I can only speculate. Another reason why I always heavily advocate risk mitigation, even in the form of overall account size.
For these reasons, it makes sense that most unregulated brokers do not require any sort of KYC if you are depositing and withdrawing using cryptocurrency. It might also explain the reasoning why the term ‘resident’ is often used in lieu of ‘citizen’, in an effort to achieve the appearance of compliance and stay off the radar while also keeping the doors open for anyone that wants to trade with them.
Trump has repeatedly advocated repealing the Dodd-Frank Act, so some regulatory efforts may eventually happen to eliminate it, in part or in whole. We can only hope that this long-standing thread may no longer be needed, even as much as we all enjoy each other’s company.
Regarding Coinexx, there is no need to reveal your citizenship to them, as they do not require KCY documents so long as you are using cryptocurrency deposits/withdrawals.
I am not apprised to how TUSD will work. If it is anything like the centralized nature of GUSD, then it can be controlled and will likely not serve the crypto community very well in the long-term. But in such the case as BBOD, the use of TUSD will only be used for trading, as a base currency, according to my understanding.
Fiat-tethered crypto, or stable coins, as you say, help to bridge the crypto-fiat gap and foster wider adoption for cryptocurrency. I also believe that they serve a necessary purpose during this growth period to help preserve valuations during high-volatility fluctuations; they serve as a safe-haven for those with weaker hands.
If accumulating large amounts of crypto matters to you, then depending on your situation, moving to a crypto-friendly country might be worth the consideration. Even for traders here that do not move crypto, there are some countries that offer great tax benefits.
Regarding the IRS, I doubt that they will want to spend time and resources ratting out overseas brokers to the NFA/CFTC for servicing tax-paying, US clients. I am not even sure if that would be legal, especially since the CFTC has no authority over individual traders that trade via brokers outside the reach of US regulation, and requiring the IRS to disclose private tax records in such cases would likely require a court order. The IRS can report to authorized agencies, but I do not know if this would qualify, given that no laws are being broken by the tax payer and I do not know if the CFTC is one of those authorized organizations. The tax disclosure laws may be completely different if trading under a corporation, however.
As US traders, unless something changes, we can continue doing what we are doing so long as we follow the rules by reporting our earnings and paying what we owe. If laws in this country change, prohibiting me from earning a decent living through trading, then my plan to leave this country will only be moved up.
YoungGun, getting back to your question if anyone has used UPayCard, I successfully used it a little over a month ago to deposit with Tradersway. It seems to work fairly well, but they are really fussy about the quality of detail in the photo IDs you send to them. They will not accept a regular copier photo of a driver’s license, for example. They insist on using something like a camera on a smart phone to make a copy of an ID which does provide more detail. I check this forum only about once every week or every 3 or 4 days, otherwise I would have replied sooner.
You mentioned that you average around 40-50 pips profit on each trade, that’s pretty good. If you did that daily, well maybe you should be a multimillionaire by now and not need to manage other people’s money, having enough of your own to trade.
Was it a larger deposit? Say above $20k at the least? I spoke with an upper level at FXChoice and they said they have had no complaints with UPayCard thus far. Granted they only added them mid this year from what I understand.
I manage my own capital, not others. I had investors in the past and it was a nightmare. The only way I would approach that scenario again would be to bring in very large investors in limited numbers.
EDIT: Also I aim for 40-50pips per trade. Doesn’t always work out that way. Lol.
My deposit using UPayCard was a small one, less than $500. With them I think you’ll have to “jump through a few more hoops” for large transfers.
NEW YEAR’S ISSUES
Weird, the EUR/CHF pair is/was not feeding on either Dukascopy or
on Coinexx platforms at the time of this posting…
Happy New Year – ish ?? LOL
[EDIT] is this my Y2K nightmare?, delayed to 2019 ?? lol
[EDIT2] it’s feeding price now, but history fetches messed up…
Still looking forward to 2019, Mom !! ha …
hyperscalper
look like turnkey forex and this trader came to agreement, if you read the whole story you see this trader was going after turnkey forex and turnkeyfx i guess the pressure paid off, this trader made over $400k profit
Why on earth is TurnKey listed as a trusted broker then?
they was on the list before this incident and like clint said trusted brokers are not a permanent thing also this is just one incident and maybe from now on they do right , in other words lets see what happens from here out.
Nice Article About Different Type Of Brokers
@SmallPaul In Summary:
If you want to help a broker become rich, use a B-Book broker.
If you want to become rich, use an A-Book broker.
Lol.
COINEXX PERFORMANCE SEEMS BETTER
Perhaps the merger or acquisition of FinProTrading by
Coinexx will result or has already resulted in their overall execution latencies
getting shorter (faster).
I’m seeing Close Position round trips in the <200 msec
near the 150 msec ranges. These are essentially "market order"
activities.
So, “kudos” to Coinexx for improving their performance, it
appears to me… There is variability, and this is small lot size
performance, but here’s what I’ve seen lately:
[20190102-02:09:14.518(GMT)] OrderOp Close Position elapsed: 126
[20190102-02:09:14.588(GMT)] OrderOp Close Position elapsed: 196
[20190102-02:09:14.738(GMT)] OrderOp Close Position elapsed: 347
[20190102-02:09:14.738(GMT)] OrderOp Close Position elapsed: 345
[20190102-04:29:28.708(GMT)] OrderOp Close Position elapsed: 148
[20190102-05:21:43.968(GMT)] OrderOp Close Position elapsed: 168
[20190102-05:46:57.948(GMT)] OrderOp Close Position elapsed: 129
[20190102-06:19:59.029(GMT)] OrderOp Close Position elapsed: 997
[20190102-06:19:59.119(GMT)] OrderOp Close Position elapsed: 388
[20190102-17:46:41.409(GMT)] OrderOp Close Position elapsed: 228
“Every millisecond is ‘sacred’, right?” LOL
[EDIT] the MT4 process server journal says it is 9.61 msecs from the
Coinexx-Live servers. This is from a dedicated Xeon Windows box located in
Amsterdam…
hyperscalper
That’s great news! I’m planning on going with a forex vps service in London for Coinexx. The vps company I’m looking at says COINEXX, Turnkey, and LQDFX are all 1ms from their London location. BTW, so far I have been impressed with coinexx support; last night they used Team Viewer on my machine to diagnose a problem I was having; they were able to resolve it for me.
I read this thread quite a lot, because i’m curious about the regulation across the pond, and how you guys are looking at alternative solutions, so bravo for that.
But, one thing that jumps out to me, and perhaps I’ve missed the point here, is that what does the above quote have to do with anything - also coming from someone who wants others thread participants to be more “meaty” in their participation.
Seeing actual/real close order execution times from one of the few offshore brokers we can use seems pretty meaty to me, but I’m also a Software Engineer, and I like to see this kind of detailed information
Really ? They did that? …a bit over and above the call of
duly, isn’t it ? But I’m glad Coinexx is continuing their history
of good support; just didn’t expect such “personal” support !!!
hyperscalper