Going offshore to escape the CFTC

where all here searching for better conditions then what where getting here in the good old U.S.A… all i can say is do your research and go with the broker that put your mind at ease

Yes, Small Paul, we are very lucky to have someone looking after our financial interests here in the usa. Of course you can buy all the lottery tickets you like, you can bet at the race tracks, and lets not forget about casinos. Blow your entire ward there, no problem. But for a real opportunity to make money and make jobs obsolete, we need protection from that wild ass scheme. Good luck to all of us!

https://www.forexbrokerz.com/brokers/fxbrew-review

wmwmwm, thanks, I saw those and: I don’t consider those review sites legitimate. I am running a demo account from FXBrew next to my Tradersway live account and they seem to agree, but much tighter spreads at FXBrew. Traderway is a legitimate broker, but they stop you out to early for my blood. Certainly compared to say IC Markets. IC Markets trading conditions are as good as it gets, IMHO. FXBest is virtually the same but much lower commission costs. Same stop out level that I am accustomed to, I so want this broker to be legitimate. But that being said, I hate to be the first sucker here on this forum to lose money due to an inability to withdraw funds. Am I the only one here that has opened a demo account with FXBrew? In terms of a live account, well someone here has to go first. I am not saying it will be me, but I can’t completely rule that out either. We are so desperate for an ideal offshore broker.

“Phil Spector”?

OK i don’t think we on the same page, hope you find the broker you like

I thought the same thing. Sounds like a Jimmy Norville production.

On another note, an unregulated broker requiring KYC presents a new set of questions for me and is something that I would want to understand a little more. Usually, this is only the case when you want to work with fiat currency, as depositing/withdrawing using crypto may eliminate this requirement.

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SandyIsAlreadyTaken, I was super tired when I wrote my last response, My apologies. When I wrote FXBest I meant FXBrew. The account manager has provided a name of Phil Spencer. The only reason I keep hoping FXBrew is legitimate is because of the trading conditions and their low fees. I have pretty much tried all the top brokers that would accept usa traders and I even got into one broker that does not take usa traders as they accepted my QEP waiver, only to reject it late last year. Which is why I am here on this forum most probably just wasting my time. Spreads, Stop Out Levels, Fees and Timely Processing of Withdrawals are what count. Of course terminal hangups, suddenly widening spreads, suddenly slow execution times, slow support response and waiting for the coin to finally show up are also important factors to consider. So yes, I have experienced all of it. Just saying.

In the event that others may be investigating this broker, FXBrew, I have uncovered some additional information that is difficult to learn. The company name appears to be Brew Algo Ltd, Uxbridge, England, CEO Parvinder Singh. I wonder if that could be our Phil Spencer?

Hey wat10! very typical of them. Most of the negative review about them plus what i hear from the people who tested account with them, majority had the same complains - manipulative and unfair practices . And the fact that they are JAFX in disguise - def makes them a broker stay away from.

All the good things you hear about them online are all their affiliates. A mate of mine signed up with them after a recommendation from some twitter guy (husgos/jafx affiliate) just to lose 7000 aussie. these guys have a strong hold on online forums. every negative you post on them is followed by a flurry of positive reviews. they changed the name but did not change they way they promote themselves.

they are just registered in Seychelles as a company not licensed by FSA. here;s
link to all the brokers that are licensed by FSA https://www.fsaseychelles.sc/index.php/regulated-entities/capital-markets

@Wat10 @charlie.afl tell me more about it. these guys even manipulate spread gap everyday after New York time , as i noticed. Initially i felt its genuine as its the rollover for banks so spreads can get wider, but they are doing worse. I have recently filed complaint against them on Jan 29, 2019 but i received no response, Please tell me more about these scammers.

My friend, you say you trade with Coinexx. Do you know how long withdraws usually take?

I ask because a few days ago I deposited some LTC, made some trades to test out the platform, and all seemed good. I requested a withdraw of half my LTC to test that out, and nearly 72 hours later I haven’t received the funds yet. In fact, all my money is still listed as available balance. My withdraw request was over the minimum, too.

Is this normal? Or maybe just a glitch?

have you contact their live chat / support, if that was my money i wound’t be on the forum asking for answers i would be talking to the company

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Just signed up with ATC Brokers. I know there was discussion earlier about The U.S. possibly being excluded but they allowed me to select U.S. as my country and then I went through a full application process including submitting documentation of residence, etc. We’ll see…

https://atcbrokers.com/en-ky/

Looking at Evolve.Markets. Kind of confused about the commission schedule.

9 basis points per round turn lot"

???

.0009*100,000=90 ???

Capital Markets Elite Group

I jotted this name down from earlier in the thread. Any recent experience/news on them?

https://www.cmelitegroup.com/#services

i went thru the same process with ATC BROKERS then they send me an email telling me i can’t sign up with them because im in the U.S.

Evolve.Markets no longer take U.S. traders

Thx, SP. You’d think they would remove the U.S. option in the pulldown menu. :frowning:

Any explanation on the 9 basis pts for commissions - just for my own edification? I haven’t heard of that before.

I’m planning on signing up for FXBrew, LMFX, and LQDFX and checking them out.

I already have accounts with Coinexx, FXChoice, and Turnkey. I’ve spoken before about “broker risk mgmt”. My goal is to have 5 quality offshore Forex accounts and spread my trading account amongst them all. Oanda was suggested to me as a U.S. choice but $10.00/turn is too rich considering their sucky spreads.

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