Another broker to consider is b2btc io
Their weakest point is they only offer 3:1 leverage.
Still, spreads are good and they offer a lot of instruments.
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Updates to the List
Not a single protest. CCM will be removed.
No objections voiced. Instead, we have several enthusiastic âyesâ votes to designate Coinexx as our fifth Trusted Broker.
Their shiny new badge will be pinned on their listing before tomorrow.
This suggestion was not unanimously approved. But, the majority opinion seems to be to remove Evolve Markets from our List. That will be done shortly.
We can hope that Evolve will develop the defenses (against Nanny State persecution) to once again host U.S. traders. If that happens, I would be delighted to put them back on our List.
A split decision, of sorts. One strong âyesâ, one strong ânoâ, and one âwhy not until itâs proven they are a fraudâ. Not the most enthusiastic endorsement of a prospective new broker!
I will hold off adding Hugosway to our List, at this time. If there is interest in debating the question again at a later date, we can certainly do that.
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Yes, you can use a VPS (Virtual Private Server) or you can use your
non-U.S. Dedicated Server or you can use a VPN (Virtual Private Network)
all of which can provide you with a non-U.S. IP addressâŚ
If or when specific KYC (Know Your Client) requirements might
arise, then the broker may (or may not!) object if you upload U.S.
documents⌠It will all depend upon your brokerâs policy and any
business arrangements or understandings you have with them.
Private business arrangements should remain private; a position
which is not shared by Nanny State agents.
hyperscalper
Im about to open my first live account and Iâm in-between LMFX and Coinexx does anybody have any recommendations
witch ever broker put your mind at ease
Are you also considering TurnkeyForex.com? Anyway, if you were
to go with Coinexx youâd have only 50% the commissions which would
be important if you are scalping. Iâm guessing the account you should
choose with LMFX is the one where pricing spread can be as low as
zero pips; is that the âZero Accountâ ? Anyway, thatâs what I would
choose.
Do not know what money transfer mechanisms are available at LMFX,
but if you went with Coinexx youâd need to use Crypto as transfer
mechanism.
I donât know what the Bid/Ask spreads comparison would be, but that
is another important consideration for scalping or price sensitive tradingâŚ
Let us know what you pick !
hyperscalper
I went with LMFX
Hey folks. I hope I am posting this question in the right section (If not, please delete mods).
I am looking to use Hugoâs way and have been demo trading with them for a while.
Over the weekend I tried to add funds but was only offered the option of funding the account using Bitcoin.
Is this a standard way to fund an account with an unregulated broker, and can I trust this method? Will the fluctuation in the value of Bitcoin affect my account in any way?
Thanks for any answers, and again, my apologies if this is the wrong thread for this.
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Your account is presumably denominated in a âfiatâ or traditional
currency like USD or EUR, etc⌠You should aim to âholdâ Bitcoin
only for the duration of the money transfer which Hugosway would
then convert to your account currency.
This limits your exposure to the Crypto currency rate against your
"fiat" currency, to the length of time required for the transfer.
This has been discussed many times in the thread
as a reliable method of transfer. It has become far more common
and required as other methods such as Wire Transfer may be
restricted by âthe Nanny Stateâ⌠
Services such as Coinbase would provide you the exchange
and also a link to your bank account⌠Just one example.
[EDIT] take care with BitCoin Wallet IDâs and always "cut and paste"
them carefully. Cryptos always transfer from one âwalletâ to another
and be very careful if there is an option to return a failed transaction
that you follow instructions which might be required to return funds
to an originating wallet owned by you, in case there is some
transaction failure. Begin with smaller transfer amounts until you
are absolutely sure of the procedures involved. Crypto transfer
fees are fairly low, so you can break up large transfers into smaller
ones with little to no fee penaltyâŚ
hyperscalper
3 Likes
Thanks for the reply. I had a look through some of the thread but with over six thousand replies I thought Iâd ask.
Cheers 
1 Like
Hello all, long time lurker here.
Am i seeing this right? Avg EURUSD spread at coinexx is 0.02 pips?? That canât be true can it?
Coinexx website does say their pips are 0.02 but myfxbook says 0.2 pips? So confused!
No, these are the current Bid/Ask spreads on
Coinexx in PIPs. Note that EUR/USD is priced
in 0.00001 increments, but that a âPIPâ is considered
to be 0.0001 . In MT4 terminology, 0.00001 would be
called a âPointâ or 1/10th PIP
[EDIT] for JPY Pairs, a Point is 0.001 and a PIP is 0.01
You can see below that during this âslowâ period, the
minimum observed EUR/USD spread was 0.2 PIPs, but
it can go as low as zero. This would not be an âaverageâ,
however⌠lol
symbol min , avg , max spread pips
AUDCAD, 1.1 , 1.2 , 1.2 #
AUDCHF, 1.1 , 1.1 , 1.2 #
AUDJPY, 0.5 , 0.6 , 0.7 #
AUDNZD, 1.3 , 1.4 , 1.6 #
AUDUSD, 0.2 , 0.3 , 0.4
CADCHF, 0.5 , 0.7 , 0.9 #
CADJPY, 0.5 , 0.7 , 0.8 #
CHFJPY, 0.7 , 0.8 , 0.8 #
EURAUD, 1.2 , 1.5 , 1.7 ##
EURCAD, 1.1 , 1.2 , 1.4 #
EURCHF, 0.4 , 0.6 , 0.9 #
EURGBP, 0.3 , 0.5 , 0.7
EURJPY, 0.3 , 0.4 , 0.6
EURNZD, 1.8 , 1.9 , 1.9 ##
EURUSD, 0.2 , 0.3 , 0.3
GBPAUD, 2.2 , 2.2 , 2.3 ##
GBPCAD, 1.7 , 1.8 , 1.9 ##
GBPCHF, 1.0 , 1.1 , 1.3 #
GBPJPY, 0.6 , 0.8 , 1.1 #
GBPNZD, 2.1 , 2.6 , 3.0 ###
GBPUSD, 0.3 , 0.5 , 0.8
NZDCAD, 1.0 , 1.1 , 1.2 #
NZDCHF, 0.9 , 1.0 , 1.0 #
NZDJPY, 0.9 , 1.0 , 1.1 #
NZDUSD, 0.4 , 0.5 , 0.6
USDCAD, 0.4 , 0.6 , 0.7 #
USDCHF, 0.2 , 0.4 , 0.6
USDJPY, 0.1 , 0.2 , 0.4
hyperscalper
1 Like
what im curious about though, is there are really only a few brokers who are anonymous acccount oriented correct, coinexx and evolvemarket? So turnkey wants identity documentation, and take americans ?
Ummm⌠yes. Evolve no longer accepts geo-located U.S. persons.
TurnkeyForex dot com is a very good choice, along with Coinexx.
Both of these offer âfiat currencyâ denominated accounts.
hyperscalper
Not sure about Turnkey, but you may ask about it. Some brokers do not require you to provide KYC documents if you will be depositing and withdrawing using crypto only.
CRYPTO TAXATION PODCAST
Not wishing to endorse anything at all, and Iâm not a Crypto
"investor" myself, but thought this would be helpful as
concerns any Crypto type capitals gains and taxation
issues for those who are âBuy and Holdâ Crypto investors.
https://bitcoin.tax/podcasts/5c497307b1d702f06bf045fa/crypto-taxation-tyson-cross-tax-attorney
hyperscalper
Iâd rather see a podcast interviewing the two guys that posted earlier, saying that they were trading multi-million dollar positions. I am honestly surprised that no one is even talking about that. 
Agreed! Who knew that Marcus Goldman and George Soros were on our forum? 
The discussion also piqued my interest. Iâm considering the possibilities of scaling to larger lot sizes (still wayyy smaller than discussed by these gents) than I had previously thought possible. (Slowly, carefully, and methodically, of course!) Kids please donât try this at home. These are trained professionals on a closed course!
Also a note on leverage⌠All the usual trading 101 rules apply. Its a bad idea to use big leverage to bet the farm. Rather, I figure the bulk of my account can be elsewhere while leveraging a smaller amount at one time with my broker. But, total account size still has to be the same. Drawdown WILL happen eventually. (Feel it important to stress this in case of new traders reading about leverage).
Tax video is appreciated. Itâs going to challenging this year.
I had FinPro Trading PAMM accounts that were taken over by Coinexx as a result of the merger. Here are my concerns with the post merger realityâŚ
- Coinexx is now an unregulated operation (FinPro was UK based and regulated)
- Coinexx wants all account funding/withdrawal with crypto (tell a new potential US PAMM account client they have to fund their new PAMM account in crypto. Not good)
- Large PAMM account clients want a strong correspondence/depository bank for the broker which offers brokerage credibility (who is that bank for Coinexx)
That last point above is my main issue with FXChoice since they use a bank in Bulgaria. Itâs hard to get large account clients to use FXChoice with a Bulgarian bank. My understanding is ATC Brokers new Cayman regulated brokerage can take on US clients for large accounts. I need to really consider the degrading options for US clients and maybe move everything I do to a broker like ATC Brokers - or those who will take large account US clients.
Iâm looking for regulated FX Brokers with solid depository bank relationships. When you generate high returns for your clients each month working your a** off I donât need brokerage house problems. We traders invest a lot of time into building our capabilities and the broker options remaining for US clients (below 50k starting account balance) are not very good right now.
Last item, anyone know of FXPro in UK taking on US clients for 50k or greater in a PAMM account?
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finpro was never regulated in the U.K. and fxchoice does a good attracting large accounts and probably the broker to go to for 100k or above