Going offshore to escape the CFTC

Broker Discussion Forex Brokers
7610

UPDATE CloseOption BINARY OPTIONS

Available for U.S. persons.

Forex Pairs are: EUR/USD, USD/CHF, AUD/USD,
USD/JPY, GBP/USD,USD/CAD, GBP/CHF, AUD/JPY,
CAD/CHF, EUR/JPY, EUR/NZD, EUR/CAD, NZD/USD,
EUR/AUD, GBP/AUD and GBP/CAD

Crypto pairs are also available.

Strike options pricing tracks precisely the tick pricing
of the underlying pair. Reaction time on entry is fairly
quick, within 1-2 seconds Put/Call . Outcomes appear
to be fair, and very precisely executed.

As with 99% of binary options, no API is available.

Fixed Options hold times range from 30 seconds, 1m, 2m, 5m,
10m, 15m, 30m, 1hour, 4h, 12h, 1day, 3d, 1week, 2w, 1month.

If you wish to ā€œplay the gameā€ of classic Binary Options with
moderately good payout levels, and what appears to be fair and
honest execution, then this is a good choice to explore.

hyperscalper

7611

  1. a. It will depend on what the broker allows for deposit. There are stable coins that are pegged to the USD, which will not endure heavy valuation fluctuations. If the broker that you are interested accepts one of these, then you can use it.

    b. You do not need a crypto-based card to fund your trading account. Crypto-based cards are generally used to purchase goods and services using cryptocurrency. Since, in most cases, you will already have cryptocurrency if you are using a cryptocard, then the card is not needed to fund the account since you can just transfer your crypto directly from your wallet to the brokerā€™s wallet.

  2. See above. Conversion will usually occur on the broker-side for trading purposes. In general, you cannot avoid the heavy swings of cryptocurrency 100%, but you can mitigate those heavy swings by using stable coins and timing your transfers/conversions appropriately. Also, the swings may sometimes be in your favor and you may not want to avoid them.

  3. Youtube or discussion forums like this one. Once you understand the basics of crypto, the rest is pretty straightforward. Cryptocurrency is actually very simple. The complexities are usually exchange-related, such as providing KYC documents to the exchange and learning how to use the exchange or interface. Taxation can be confusing, but it does not have to be; just hire an accountant that can properly guide you.

As a side note, you do not need to have an account with an exchange to purchase or transfer cryptocurrency, as there are other ways to accumulate cryptocurrency. However, the alternatives may not be overly practical, depending on your needs, and will likely be more expensive. If you use a wallet like Exodus, you can use the built-in exchange feature to convert one currency into another, for a small fee.

1 Like
7612

thatā€™s cool and thank you very much, happy trading,

7613

thank you very much Methos. yes, itā€™s a small learning curve for cryptos, I just want to learn it as much as needed to kick start forex trading. I need to update myself on cryptos. what is your take on cryptorocket . the only hesitation I have on crypto trading is also security, account hackingā€¦thatā€™s one drawback of crypto trading and nobody can ever prove with 100% certainty whose mistake is itā€¦broker is never going to accept it , I think it has happened with different brokers and they are just sitting on it.
anyways, it is what it is and we have to be careful and not surrender. have a good one. TJ

7614

If you are going to trade crypto specifically PrimeXBT is the cheapest. Mt4/5 brokers kill you on the spread.

1 Like
7615

hi, did you also post in support of coinexx on fpa website. I see a similar user name there, or maybe some other user. have a good one. TJ

ā€¦just trying to see how authentic are the views on fpa, thereā€™re also some fake views on fpa, ( anyways, thatā€™s not the subject matter of this thread, I guess )

7616

I have no experience with CryptoRocket.

It is important to practice due diligence when dealing with cryptocurrency by learning how to properly safeguard your wallets and accounts, as well as taking appropriate steps when transferring your money. Since you are not dealing with a middle-man in most cases, you are responsible for protecting your own assets and ensuring that your money is being sent/received to the proper addresses etc. without the added benefit of insurance that you might be used to having.

I suspect that most of the stories that you hear about people losing their money is due to negligence and poor choices. People unknowingly expose sensitive data online, use weak passwords, invest in questionable opportunities, lose their hardware wallet or passwords, use the same email and password for everything, get suckered by phishing emails or download something from the web that is bundled with a trojan and/or keylogger etcā€¦

People that are handling large sums of money should consider having multiple wallet types, using both, cold and soft or hot storage, and should spread their money out so that it is not all available in a single location. I know some people that have secondary computers with no added software or utility, that are only used for wallet storage and backup and only connect to the internet when updating balances etcā€¦ Multiple bank safety deposit boxes (across different banks) can also be used to store large sums of crypto on cold wallets.

1 Like
7617

yes thatā€™s true. thank you for all your suggestions. I read them multiple times to make sure I donā€™t miss any thing. have a great day, TJ

7618

Just got this email from FXOpen

Dear Client,

Did you know you can start trading today without completing the verification procedure? Starting today, itā€™s possible to deposit, trade and withdraw funds with Grade 0 verification.

What is Grade 0?

Your registration with FXOpen and verified email address.
No ID, no proof of address, no other documents required.

Deposit instantly with any electronic payment system such as Skrill, Neteller, Webmoney etc
See a trading opportunity - grab it!

Enjoy access to the fx market and benefit from the very best trading conditions:
tight pricing low commissions consistent execution fair and transparent trading environment

Please note that Grade 2 verification is required for credit card and bank wire transfer deposits.
Please upload the documents here:

Scan of your valid ID Utility bill or bank statement issued in the last 3 months Selfie with ID/passport
Sincerely yours,
FXOpen

7619

This is a big deal on a couple of levels. I was trading with this broker when Dodd-Frank happened and I had to leave. They still donā€™t allow US residents to trade, but using the ā€œthe donā€™t ask, donā€™t tellā€ loophole, we once again have access to a very solid broker (at least they were 9 years ago). As soon as I thank @smallpaul for posting this, Iā€™m signing back up. Hopefully other established brokers will follow their example.

1 Like
7620

Did they change something? Their site still says no bueno for US residents.

Screenshot_3
Screenshot_31182Ɨ229 52.5 KB

1 Like
7621

i donā€™t know i just got the email

here is the link: Verification of eWallet | FXOpen Helpdesk

7622

Ok, so I tried to register and when i click ok to register it wonā€™t let me get past that page so im guessing Iā€™m being blocked because im in the U.S.

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7623

Must have been a marketing blast to all people who registered/inquired in the past maybe.

1 Like
7624

keep us inform because i canā€™t get past the registration page

7625

I think that the takeaway here is, you can probably use a VPN and they wonā€™t ever ask for verification documents so long as you do not require a bank wire or credit card deposit. Maybe I am wrong.

2 Likes
7626

if they still blocking U.S. traders from registering is it worth the trouble

7627

Re: trading company

I am interested. Currently, things are actually better than they have been. We now have several solid brokers from which to choose. Regardless, we should still prepare other options. There is no telling what the future holds. Perhaps another thread is warranted.
Plans B and C should be made while Plan A is still functioning.

7628

I suppose that it is subjective. Proper risk mitigation renders the point moot and desperate traders that are restricted by unreasonable legislation may consider it as a viable option.

1 Like
7629

I was able to register while traveling through Phoenix AZ. Email and password, with an email verification and that was all. Did their site give you a specific error or just dead end? When I registered it was a little slow to respond, but Iā€™m setup now to test them with a live account tomorrow. Try it again.

1 Like