What is the general feeling about the various offshore bonus programs? Specifically I am wondering about Coinexx’s 100% deposit bonus. Thoughts?
TURNKEY MT4 SERVER CHANGE
MT4 servers are now TurnkeyGlobal-Live and TurnkeyGlobal-Demo
Any MT4 desktop platform can look up the servers using
File/Open an Account ; and then putting TurnkeyGlobal in the
search box which will auto generate the server control files
into the config folder of the data directory, e.g. TurnkeyGlobal-Live.srv
ALL MT4 installations (of the same Build number) are IDENTICAL
so you do not need the MT4 provided by your broker. Any MT4
installation will do…
No need to update the MT4 installation for this change.
hyperscalper
My view is you should never get involved with those. You have
such good leverage, in general, anyway ! At least with Forex.
hyperscalper
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Amen. Deposit schemes are to lure in novice traders and b-book them since they know they will over leverage. No broker allows losses to eat into the “bonus” deposit which causes beginners to lose their money. 
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I learned about a japanese exchange today for crypto one interesting angle some of you may want to look into - they like kraken offer non CFD leverage, alledgedly 25x regular margin like a stock exchange I guess, and a separate 100x CFD platform section. I sent the compliance team an email to ask about corporate onboarding. It’s liquid.com.
Bare in mind, the volatility on forex is so much lower than crypto. I’ve really largely fallen away from currency pairs. something to think about.
What leverage is even offered on bitcoin?
Depends. The highest is usually around 100x.
hello folks,
just wondering if there are are any active scalpers here trading with offshore brokers, as far as I know most of them allow scalping, and have they faced any consequences of toxic flow and backlash from broker and their LPs?
I am trying out a new system, which is highly toxic and wondering steps I should take to prevent getting stopped out by massive spread manipulation ( other than having enough margin and not overleveraging), reason for scalping is ofcourse to minimize the exposure to uncertainty in market and whiplash, spread widening from economic news.
what should I expect the consequences of being flagged as Toxic flow by LPs?
What is the nature of your “toxicity” ? High frequency?
Lotsa small orders? Big orders? give us a clue, pls …
We would like to advise…
hyperscalper
hello HyperScalper,
the system consists of EA sending out multiples small orders across 3 brokers, HFT, hold duration of approx. 5-10 minutes, completely avoiding taking positions during economic news hours.
Unfortunately there are only few brokers in the list viable for scalping, and all of them seems to have the same LP solution (obviously…turnkey)
I am assuming, since the brokers have the same LPs, it will know for sure trader/order id even though trying to conceal trade spread across multiple brokers? what are my options here? what sort of action do these brokers/LPs take in order to screw with me, even though they state scalping/all trading style is permissible.
In the past I have stayed cleared of scalping/gathering chunk change in front of bulldozer, trying to stay on the good side of LPs/brokers.But I have been getting stopped out anyway swing trading due to news/spread widening, so why not give scalping a try, but it seems the odds are stacked against HFT scalping to make worthwhile returns.
Any thoughts or suggestion is greatly appreciated! many thanks.
James.
OK, I think I got you beat !! But that doesn’t matter. What
you’re doing, with Coinexx or Turnkey won’t result in any
adverse effects, despite your slightly paranoid expectations.
I run up to around hundred outstanding Forex orders, with multiple MT4 connections
per account, replicating fills across a dozen accounts and scalping
for as little as 3.5 PIPs… or slightly more, off the aggregate Cost Basis…
So, honestly, I wouldn’t expect any problems from your alleged toxicity !!
Not in my experience anyway… What makes you think you’ll face
some sort of retaliation ??
hyperscalper
1 Like
Thank you very much for the response HS,
I have seen many horror stories about how the brokers supposedly screws with their order slippage /execution, manipulate spreads due to the traders erratic trading styles.
I read up on the flow of interbanks liquidity and toxic flow as a consequnece of ‘takers’ actively suffocating the order books with their constant arbitrary small orders that doesnt do the interbanks LP any good, not in their best interest.
I guess i am channeling the paranoia from these folks who have been ’ flagged’ for erratic trading by their LPs if there’s such a thing exists.I am a bit skeptical, keeps me out of taking bad trades as well as missing out on good trades
As U.S. persons we face the threat of extinction if we can’t get decent
trading venues. The injustice of the war on Forex in the U.S. and the
usage of bully techniques to cut off money transfers to offshore brokers,
everything this forum is about, are important.
But, as a trader, and what I’m focused on, are the analytics for
successful trading; and less on whether a broker will be trying to
cheat me on pricing, execution or commissions. Only the Analytics
can produce successful trading and, in the very worst of scenarios,
they would work on “crippled” U.S. Forex brokerages as well…
But I believe there will continue to be good offshore choices
which do not require crippled trading technique, and which will
provide the higher leverages so we can work with less overall
equity. I’m talking Forex only here.
hyperscalper
2 Likes
Getting back to the subject of 100% deposit bonuses offered by offshore forex brokers, I think they are a very good thing as long as a trader does not try to actually use them while trading. A realistic trader needs to act like the bonus is not really there, to avoid overleveraging. The beauty of the bonus sitting there is the small credit from the bonus that you are given after each trade, even on losing trades. It’s not much, but the credits do eventually increase your account balance a little, especially for frequent trading.
Thanks, HyperScalper, for revealing that you sometimes to often trade for a profit of only 3.5 pips. I think we traders can learn a lot from your trading strategies since it appears that your overall trading is profitable.
Well, that’s the tightest I would go; and really there are a couple of
timeframes for holding trades, that one being called “Nibbler”…
And only a BOT can do that across up to 28 Pairs…
Everything in trading is also always a work in progress…
[EDIT] You might think you could scalp like that by just kindof
waiting for “price deflections” and then stacking defensive
positions to pull cost basis, until the market turns to your
target point. But that’s not true. Tons of analytics are
needed to predict price direction; you can’t just flip a
coin and figure you can “manage” yourself to a win… like
some people believe… just sayin’… you actually have to
know how to predict the price trend direction reliably…
hyperscalper
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What bully techniques to cut off money transfers?
Difficulties with wire transfers from many of the offshore
brokers, and their need to establish complex banking
arrangements if they try to provide wire transfer is just
one aspect of the money transfer challenges.
hyperscalper
Have never heard of difficulty in brokers sending wires. Receiving funds maybe.
OK, I’m gonna back off my claim about “financial strangulation”
as a method of discouraging offshore broker
usage for U.S. persons. I just don’t
have time to track down the details. I’ve only been using
crypto transfer methods lately, so it’s not my area of expertise.
Maybe some other U.S. person can explain how Wire Transfer
works to and from an offshore brokerage, such as Tradersway.
That’s just not my focus right now.
I’m sure the “Devil is in the details” so I suspect someone has
direct experience as a U.S. person using mainstream money
transfer mechanisms.
[EDIT] Tradersway says they have these transfer mechanisms but,
of course, the devil hides in the details
hyperscalper
Yep, sending wires can be a pain but receiving withdrawals via wire is not. Most offshore brokers can accept wires (even if they say they cant) as long as it’s a worthwhile deposit. They will not turn away a $100k wire.