Bitmex and others can be accessed via a good VPN, regardless of nationality. Typically, exchanges that enforce daily withdrawal limits are doing so for security and compliance requirements and can generally be circumvented following proper KYC approval. Any exchange that prohibits US traders would obviously not have such workarounds. That being said, depending on the valuation of BTC, 2 BTC daily withdrawal limit is not the end of the world; currently, that is over 20K/day. Not all exchanges may have a maximum withdrawal limit.
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Thanks for your time! Bitmex was also suggested to me. Don’t know one that’s better. Wanted to go with them but forgot all about using a vpn. There’s also kucoin I can use while I’m out and about, away from my pc.
Forex is my bread and butter tho so still gonna look at crypto rocket and Hugosway. They have shares also which I like. Looking into options for forex. Will dive more into that tonight and research.
I know that some users here may feel that the discussion of cryptocurrency is off-topic. I suppose that, in some ways, it is and it isn’t. The same, regulatory hurdles that we currently face for forex are, oftentimes, carried over to crypto, in one way or another, not to mention the fact that cryptocurrency trading is offered by many of the brokers that make up the trusted list that this thread currently focuses on.
As regulatory pressure continues to weigh heavily on our options, cryptocurrency may serve as a potential safe-haven or go-to if/when forex and other investment tools (that are fair and/or worthwhile) become too difficult or impossible to reach. Furthermore, as more and more brokers lean towards cryptocurrency as a means of transfer, more traders may be forced to adopt these alternative solutions, so having an open dialog about them could prove beneficial in the long and even short-term.
That being said, I will reiterate that if the topic of cryptocurrency is deemed irrelevant by the majority or by Clint, then I will make every effort to refrain from such discussions. Because I am a team player or whatever.
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I won’t presume to speak for the majority. But, speaking for myself, I have no problem at all with the discussion of crypto, as it has evolved to date here in this thread. In fact, I encourage it. The CFTC has forced us to find alternative ways to move funds back and forth between the U.S. and our offshore brokers, and crypto has become one of the few viable alternatives available to us.
Likewise, I have no problem with the discussion of VPN’s in this thread. It’s a sad fact that, thanks to the CFTC, we have to sneak and hide in order to continue trading offshore. Currently, cryptos and VPN’s are our most effective tools for sneaking and hiding.
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I am at Coinexx and loving it so far. However, I wanted to try out a new off-hours scalping strategy that gets its signals from 5 PM to 6 PM ET. Unfortunately I have noticed that Coinexx’s spreads jump up a lot at 5 PM ET. They stay quite elevated until sometimes 5:15 or 5:30. It almost renders this particular scalping strategy useless. Do you know the reason for this? And have you found that any of the other brokers on our list do something similar?
Close of the New York session.
Yes, they told me that I will experience this with any ECN broker. Bummer…
Update for the Commission Free trades i had availed at Turnkey Forex for my account with them.
I availed the promotion for 30 days and got my commission charged ( Does not include Swap charges, so make sure you do not keep the trade open to the next session) from Turnkey reimbursed back after 30 days to my account as per their promotion policy…
Overall Good promotion to use, it reduced my scalping cost for the trades.
You can check real time spread for many brokers here:
https://www.myfxbook.com/en/forex-broker-spreads
When you see coinexx spread widen at 5:00 pm, all the brokers’s spread did same things.
FXbrew lately got lot of favorable reviews both here in babypips and other review sites.
Its spread is 0.1 pip wider than coinexx, but it offers wire transfer.
I have been using them a year but just signed up to Crypto Rocket as they advertised same day withdrawals.
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let us know if their same day withdrawal holds true
This is a bit of a nuanced case. I hate wide spread obviously, and more importantly it will remain to be seen how over time hugoway and crypto rocket are vetted, if they are honest; however, compared to the abysmal 5x leverage on kraken and 10x on fxchoice, 22 to 25% on the spread for 100x leverage is not quite as terrible if you consider taker fees round trip on bitmex are 15%. At least for now if crypto is hyper volatile with intraday swings close to 5 to 10% then 300 to 500% ROI on x100 positions are not uncommon, this in october or march would have been impossible though, since bitcoin has peculiar volatility cycles.
Bitmex has recently alluded to a server tech overhaul that might finally put an end to the evil order overload. Bitmex has two good things going for it, liquidity, and the fact that I believe the Seychelles will be a hold out to the bitter end against FATF KYC mandates and bank secrecy acts.
As I’ve mentioned FATF and G20 are planning lots of Stasi hyper intrusive KYC things working with people like cyphertrace and chain analysis. They’re proposing systems that are a threat to crypto in general.
I also have to point out that hugos way does KYC but they at least for the time being accept Americans, I actually kyced myself there. That’s a huge plus against bitmex banning citizens. Hugos way appears to be located in the Seychelles now.
-edit holy crap dude the reviews for hugos way on forex peace army are reallly really bad and scary yikes
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I feel like its a toss up. currently only Crypto Rocket and Hugoways offer that type of leverage. I have heard it both ways on Hugoways way, just a toss up and crypto rocket is still so new that theres not a whole lot on it. For the time being im going with CR. Theres also a new one called PrimeXBT but its not on MT4 which kinda sucks. Its only on their website or their terribly rated android app.
Are any of you guys keeping your account currency as BTC? or is everyone just doing BTC deposit with USD as account currency?
But that 15% is only applicable if you are using market orders for everything. I would imagine that most are only paying 5% by using at least one limit order. Personally, I do not use 100x leverage because it is too risky, even for my strategy, because the mark price can liquidate you no matter how good you are. 50x leverage is okay, though, and I only have to pay 2.5% fees, and that’s it…no spreads or commissions.
One thing that bothers me about Bitmex is the hypocrisy. Something about an American getting rich off of a service that doesn’t allow Americans is annoying to me for some reason haha.
Hey y’all
Going to open a coinexx account. One question though, should I go with demo first or are they legit enough to open a live account straight? (I am an experienced trader)
Not sure how opening a demo first would make them more legit? A lot of people have coinexx though and it is on the list here so pretty trusted.
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why waste time on demo when you can be making money as experienced trader