Going offshore to escape the CFTC

Broker Discussion Forex Brokers
6957

All transactions can be tracked and can be found on a blockchain. Depending on which cryptocurrency you are using, you can use the associated blockchain explorer to search for every transaction. You can search using a wallet address, hash, transaction ID etc…

So, if someone sends ETH from a brokerage account to an ETH address, you can find that transaction by searching for the wallet address that the funds were sent to via an Ethereum blockchain explorer. You can see a time-stamp and the amount of ETH that was sent, among other things.

Due to the nature of how the blockchain works, most cryptocurrencies are set up in a way that makes reversing transfers impossible. Think of it like an email. You can send an email, but once it’s sent, there’s nothing you can do to reverse it because there is no control over it once it leaves your computer. Likewise, you cannot force someone to send an email back to you and if you send the email to the wrong address, it may be lost forever.

Most cryptocurrencies are decentralized and autonomous and are not controlled by a single entity, so there is no, one source that can just stop or reverse the transfer. GUSD, on the other hand, is controlled and has been set up to be regulated, which goes against the very idea of what cryptocurrency was created for.

I will add to the point regarding the fellow that left his crypto sitting. It is never a good idea to leave your crypto sitting on an exchange or in your brokerage account. Always take precautions and be prepared for the worst. Always use a very strong username and password, and never use the same information for multiple accounts. I like to use a random password generator, e.g.:

https://passwordsgenerator.net/

If you keep a document containing your various login credentials, make sure to encrypt it by archiving it inside of a zip file or similar, and password-protect it using something strong, that you will not forget, but that does not contain personal information such as SS#, address, DOB etc… In fact, the website above contains a long list of tips that you can use to protect your data.

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6958

Those commissions are not intolerable; and it is often the case
that they may be negotiable in the same way that leverages are
often negotiable.

Anyway, not looking further into it, seems like a fairly decent broker
from a technical perspective. The artificial limits on the minimum or
low end for spread are not necessarily a big deal, especially if you
use Limit orders to make your entries. I didn’t test whether limits could
be set inside the spread… let me check! …pauses…

Yeah, I couldn’t use this broker because positioning a limit order 0.7 PIPs
inside the spread seems to be rejected. Not sure what the limitations are
on placement of Limit orders with LQDFX but I don’t want my orders
to be converted into a different order type and/or rejected…

[EDIT] a BUY limit positioned 0.7 PIPs under the ASK price seems to
have been rejected for pricing constraints, an error rejection stack trace:

LQDFX-limits-converted-to-sell-stops-and-cancelled
LQDFX-limits-converted-to-sell-stops-and-cancelled1659×276 11.2 KB

[EDIT] modified image to hide account number

Such pricing constraints do not exist on Coinexx or Turnkey, and others.
I can place a BUY limit 0.1 PIPs under the ASK on those exchanges, and
there is no rejection…

[EDIT] By trial and error it looks like 2.0 PIPs is the closest you can
place a Buy to the ASK price, or a Sell to the BID price…

hyperscalper

2 Likes
6959

Thanks for your insight, was very helpful indeed.

6960

If you’re talking to me, I’ll just post the Rollover Spreads in
a short time, and
then we’ll end our little test, which was very revealing for me!
I may have to code in considerations of “nearness” to the market
for limit orders, which I don’t check at this time…

Thanks again Cryptosurf-er !!!

hyperscalper

6961

no room for errors i see

6962

here is the answer i got from lqdfx the key word here is process so no recovery if broker process your withdrawal

Info: Thank you for choosing to chat with us. An agent will be with you shortly.

Info: You are now chatting with George.

George: Hello, you’re chatting with George. How may I help you?

SmallPual: quick question, if i do a bitcoin withdrawal and gave the wrong address is it possible to recover those bitcoins

George: If you provide the wrong address and the funds have been processed than it can not be reversed. However if you request for a withdrawal and realise you have provided the wrong address and the funds haven’t been processed than the funds can be cancelled by sending an email.

SmallPual: ok thank you

1 Like
6963

what i do like about coinexx withdrawal process is they ask you if you want them to save the crypto address so i been using the same crypto address for my withdrawals so no problem there other brokers don’t save your address so one hiccup can cost me some serious money

1 Like
6964

Yes, since withdrawals are processed manually, the transfer does not occur until they initiate it, so it can be stopped prior to that point.

Saving the address is good. Even better if brokers are able to offer traders the ability to lock in the withdrawal address so that it cannot be changed without providing authentication.

1 Like
6965

I had a Shift card and didn’t use it much. The card was connected to my BTC balance, but I never carried a balance because of BTC volatility. My current workaround is to connect Coinbase to Paypal, with a Paypal debit mastercard. I’ve been using it for a while now and it’s been flawless. The debit card also pays 1% cash back.

1 Like
6966

don’t know how lmfx became a trusted broker over lqdfx i must say doing my research on this broker and trading with lqdfx this broker is serious about their business i found me another solid broker to park some money

6967

Are you saying LQDFX is a trusted broker or that LMFX is a trusted broker? I’m looking for a broker that is safe holding greater than 30k+ without them screwing me over during when it comes time to withdraw. I’m looking to withdraw every weekend. Any help and suggestions will be welcome.

6968

my most trusted broker list that pays withdrawals: you should always spread your money around

coinexx

lqdfx

fxchoice

tradersway- 50% account split with lqdfx

2 Likes
6969

Thank you for your input SmallPaul, Say I wanted to split 30k would the split be like this? Also, I currently use Hugosway, should I switch from this company? They’ve been paying withdrawals for me however I haven’t tested large, or weekly withdrawals. Thank you once again, this strategy of splitting money around is very smart.

Coinexx - 7,500
LQDFX - 7,500
FXChoice - 7,500
Tradersway - 7,500

1 Like
6970

yes sir that’s how you split your funds up, i hear diffrent stories about hugosway but never about them not paying withdrawal they just not the broker i can trust 100% at the moment

2 Likes
6971

so you’re running 4 different platforms ? If you want to trade 1 pair you’re placing 4 orders one by one or there is a robot or something like that placing orders simultaneously ? How that works if you dont have enough money to fund 4 full sized accounts?

6972

Coinexx, tradersway and turnkey are all trustworthy. I regularly withdraw from them especially coinexx almost weekly.

6973

Thank you, I appreciate the help

1 Like
6974

Use a trade copier or robot.

2 Likes
6975

i use a free personal trade copier here https://www.fxblue.com/appstore/c2/trader-apps

6976

thanks , great site

1 Like