Going offshore to escape the CFTC

please let us now about your experience using LMFX ECHECK

I plan to give LMFX an eCheck on about July 12 after my property tax check has cleared my bank, just in case anything goes wrong. In an online chat with a lady at LMFX, she said that eChecks have been used for about 2 months now with LMFX and that they have been working great. Ideally a trader would have multiple checking accounts and use the least used account for something like these eChecks, in my opinion.

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Hello Alisha.
I have only recently signed up and have not yet tried a withdrawal.
I will be sure to report back here once I have.

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Great! Commissions are a little higher but I could at least trade crypto there.

im pretty happy with my broker selection, but im always looking to add, hereā€™s my top brokers at the moment

coinexx
fxchoice soon to be replace by lmfx
lqdfx

i will be funding my lmfx account next month and scale back my trading with fxchoice

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I have opened FXchoice account after seeing your list.
But now you are going to replace it with LMFX.
Is LMFX really better than FXchoice?

Iā€™m sure we are all aware that ā€œbetterā€ requires specific
criteria; otherwise, it doesnā€™t mean much. If you are a
tight scalper, ā€œbetterā€ means good pricing, commission,
execution. If youā€™re a longer term trader; you donā€™t really careā€¦

hyperscalper

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Well,
FXchoice: spread is a little too wide. Every other thing is good.
Coinexx: tightest spread one can find.But after big news come out there always delayed quote and if you trade at that time, there is a few seconds delay.
If you donā€™t trade during big news time, everything is perfect at coinexx.

Consider commissions as wellā€¦ My interest is in mainstream
Forex, so thatā€™s all I consider.

hyperscalper

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Coinexx commissions are $2 per /lot RT,plus 0.2-0.3 pip spread on euro, so total cost is 0.4-0.5 pip.
FXchoice euro spread is 1.2 pip without commissions.

But I once opened a trade on both brokers,by placing stop sells right before Friday employment report.When the news came out,my order at FXchoice was filled at 2.5 pip below my stop price.
My order at coinexx was filled at 20 pip below my stop price.
So donā€™t trade news at coinexx.

Besides, during time of big news, my coinexx quote is stop functioning, while I look at my FXchioce quote, it is working as normal.

Despite this, I do significantly more trades on coinexx than Fxchice, due to its much cheaper trading cost.

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80% stop out level on their pro account is a killer, with lmfx they stop level is 15% at 250 leverage is like 400:1 leverage only problem max trade is 4 million if i wanna do over 4 million i have to drop my leverage down to 100:1, spreads are better but not a major factor in my trading as long at they reasonable .

You can choose classic account, which is what I did,its stop level is 15%.

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i know but those spreads are to wide for me on classic account

If you add commissions for pro account, the total cost for both accounts are almost same.

have you notice the price move faster on the pro account, yes same on some pairs but not all

My experience in Forex is that Coinexx quotes during News Events do
not regularly stop functioningā€¦ So you may pick and choose your
"nail in the coffin" or ā€œdeal breakerā€ for any given broker;
itā€™s your choice or even an ā€œfx-choiceā€ if you like :slight_smile:

When Trading News at any broker, do not be ā€œchasingā€. Rather,
be in your position either before, or after the volatility settles down.
For me, Iā€™m in early with an offer, since I believe I can predict the direction
from analyticsā€¦ otherwise, Iā€™d be guessing :frowning: which is not recommended !

hyperscalper

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Maybe you connection is better than mine?
My coinexx quote is always delayed during big news.

btw my list are brokers i trust and not to keep all my money with one offshore broker. so far im hitting home runs with offshore brokers and was able to escape tallinex and capital city markets before they became scam brokers :joy:

EDIT: i also check forums every day the main part i review if a trader post they havenā€™t receive their withdrawal i then go to my broker and ask them to address the issue and they always do.

That is why I paid great attention to your list.
Save a lot of my home work.
Thanks for your good job.

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So many variables here. Using MT4 or using MT5 ?
Lots of symbols selected, generating "saturation traffic"
on your downlink? All of these factors matterā€¦

Get a dedicated server at a good provider, and youā€™ll
most likely not have these problemsā€¦ well, maybe notā€¦

So many things in this forum unspecified like that are
comparing things like ā€œapplesā€ with things like ā€œorangesā€ ?? LOL :slight_smile:

hyperscalper