I happen to hold a dual passport, but renouncing U.S. citizenship
is not something that is easy to do, and is really unwarranted and
impractical for most people with family and a life…
“When a government becomes oppressive…” etc. Just pay
your freakin’ U.S. taxes, use the resources of this thread, and
we’ll probably all end up OK.
hyperscalper
Looks like the free lunch at Coinbase Pro on limit orders is now over. Limit orders are .15% ($7.50 on a $5k trade).
Stick to USDC and avoid the Crypto if you can. Hopefully my next withdrawal out of Coinexx will work via USDC. No need to sell and incur a fee then. Just convert from USDC to USD when receiving and vice versa when sending .
Just made another USDC deposit via Coinbase Pro to Coinexx and it was seamless and quick. For some reason it arrived with a few extra pennies too. I’m not going to complain.
I made a deposit from Gemini using GUSD to Coinexx, and I actually made a few cents as well in the transfer. The transfer was under 15 minutes to complete.
Question for the group… Seems like there are only a handful of people participating in this discussion. Can we assume then there are not many folks from the US using offshore brokers? Are most people using Oanda etc. for FX? Or are there people out there, and they are just staying quiet?
I am most are just lurkers like me. I trade from US. Currently with Coinexx, tradersway, also have accounts with FX choice and lmfx
Awesome! Love seeing there are more people out there in the shadows 
they are just staying quiet but there is not that much to talk about unless we have a new broker or have a bad experience with the current brokers on the list.
Rumor has it that FXChoice will begin offering wires again sometime in April. I am sure they will have issues with wires again so it would be worthwhile to setup a BTC wallet at an exchange just in case…
In order, the answers are: 1) NO, and 2) NO, and 3) many of us are working,
instead of worrying about losing the small set of brokers we have, which
are not forced to implement FIFO, limit leverage and pay NFA fees…
there’s a clue…
hyperscalper
In addition its not a smart idea to broadcast the details of who you are presently use. Eyes are watching.
Unfortunately we must broadcast details or nobody will be informed of quality or quantity changes regarding available brokers.
I’m certain that the people we don’t want watching our conversations are watching them and if we made the thread private they would still be able to read. All we can hope for is that the brokers we currently have, stay under the radar and keep their noses clean; and the countries with which they do business out of protect them (and us) the best they can.
I know what you mean and that’s not what i meant. There’s some who seem to overshare what it is they are doing.
Those people have already succeeded in planting the widespread
misinformation that it is “illegal” for U.S. persons to have offshore
dealings in this area. That, of course, is false. So the few who do,
are most likely not targets, as the vast majority are deterred from
exploring offshore opportunities in the first place, mostly due to this
misinformation, FUD (Fear, Uncertainty and Doubt),
as they call it, about both Crypto and Forex.
hyperscalper
Just keep sharpening up your Crypto skills folks. It was created specifically for government overreach situations such as what we face.
I’m in US and use Coinexx (FinPro prior), TurnkeyForex and TradersWay. I follow this thread at least once a week to ensure brokers I’m using remain on the trusted list and to stay up to date on reputable options. I’m just a lurker as I’m sure most are but have been following this thread for quite some time now… a few years at least.
I mean… this thread has 1.4 million views. It’s a living, breathing, organism. I think even God checks in from time to time to see what the CFTC is up to.
Thanks Clint!
Not to put too fine a point on it, here are some metrics regarding this thread.
We started this thing in September 2010 – 8½ years ago.
That’s 3,100 days that this thread has been running.
So far, we’ve logged 1,426,498 views, which averages out to 460 views per day over the 8½ years.
Over the same 8½ years, only slightly more than 2 posts per day have appeared in this thread —
— which means that the silent readers of this thread vastly outnumber the active posters.
Unfortunately, our “buddies” at the CFTC are among those silent readers (as is a certain tax accountant who loves to run to the CFTC and squeal on offshore brokers who host U.S. clients). We can’t prevent people hostile to our efforts from watching what we are doing here. But, we need to keep in mind that they are lurking out there.
As individual traders, we have every right – legally and morally – to trade with any forex broker, anywhere in the world – so we don’t need to hide our activities from the CFTC, or from any other agency of the Nanny State in order to protect ourselves.
But, we need to be mindful of the fact that everything we discuss here has the potential to expose our offshore brokers to unwanted attention from hostile lurkers.
We know that our offshore broker friends monitor this thread on a regular basis, but only seldom post here. And that’s precisely because, for an offshore broker willing to host U.S. clients, the risks involved in raising a high profile here outweigh the advantages in joining the conversation.
So, we’re perfectly content to have our offshore brokers as part of our silent readership.
It is all like a bad joke, really. To think that we cannot do with our money, what we want. The whole thing is hypocritical. I can lose my life savings on a whim at a casino if I want, where the odds are stacked against me, but I cannot intelligently trade currencies, something that can actually allow me to create wealth and improve my life, without massive limitations and oversight.
People want the freedom to do what they want with their own money until they get scammed…then they cry and run to mommy and demand retribution. So regulators come in to try to put a stop to it and quickly realize how profitable it can be to enforce compliance all over the world for a set of rules that they invented.
Well guess what? I have been scammed multiple times and I did not run to mommy. I knew what I was getting into. Anything that I invest in, I invest knowing that the possibility exists that I could lose everything. I invest what I can afford to lose and nothing more. I evaluate the risks and weigh them accordingly. I do not need to be protected from myself. The condescension is mind-boggling.
This idea that we should be responsible for combating money laundering and deterring criminal activity is just an excuse. We have specific groups for that. It is their job. Let them do their job. It should not be our job, and we certainly should not be fined for not doing it. In reality, we are just giving away more of our freedoms for some illusion of security. We are seeing an abuse of power and gross overreach. I fear that if things do not change soon, then things are only going to get worse.
We are already starting to see big money getting involved with cryptocurrency. Pay cards that are structured like credit cards, with fees attached to everything. Cryptocurrencies are being created that can be controlled, monitored and regulated etc… Look how quickly solutions were created for cryptocurrency taxation. It does not matter what it is, if it holds value, our government will find a way to tax it and control it. If jars of lard were used to barter on a wide scale, our government would find a way to tax those transactions. I think few people actually stop to think about just how much and how often we are taxed on the same money in this country. Anyway, that’s neither here nor there.
I probably sound overly cynical, and in some ways, I am…but I am not oblivious. I pay my taxes and I follow the laws of my country. I am thankful that we have the opportunities that we have. But some things need to change. It only starts with one, small thing. If we sacrifice even a little bit of our freedom in exchange for security, then it will only be a matter of time when that one, small thing becomes another, and then another, and then another…until one day, we are asking ourselves how things got so bad. Only then, it will be too late.
can’t log into coinexx i get a message saying my connection is not private, anybody know how to fix this problem