Very good point.
This is a curious statement. The tax laws are pretty clear on all of this now and should really not be difficult to understand for any reputable accountant.
2 Likes
Coinexx spreads have been horrible. Moved my money out and into tradersway. Looking back into Ospreyfx. did a small deposit. They now allow you to track the btc deposit via blockchain unlike before so theres no question about how much was actually sent. Customer support is better. Commission is low at 3.5 per lot. Will run the account up and see how fast their withdrawal is.
That is each way or round-turn? $7/lot sounds familiar, but I have looked at so many I cannot keep track.
Thanks for the heads up. Did you notice this only at a particular time? My scalping program (six majors only) has been running very well on Coinexx, but I avoid end of day rollover. (Many thanks to Hyperscalper for his analysis of spreads months ago.)
Just now, spreads look great. Less than a pip on EURUSDâŚ
As a rule, Coinexx has had the best spreads, except short spikes at certain times. Did you hit one of these end of day spiked?
Let me clarify, I only scalp GBP and gold. GBPAUD and GBPNZD have been too wide to scalp. GBPNZD has been too wide to scalp for the last couple weeks. So for my situation coinexx could no longer be used. GBPCAD is wide too compared to other brokers.
No as in $3.5 per lot round trip.
I remember now that the contract sizes for crypto are messed up. This requires a 35 pip move to break even. No thanks.
Yeah, I dont trade crypto though. So the spreads on the pairs are fine.
Actually, some of the crypto spreads are excellent, which is what initially piqued my interest. I think LTC has 0 spread. Unfortunately, the commission sort of kills that benefit for me.
Yes, the double-whammy of Covid virus, and Oil Shock has caused Currencies to be very jittery. These couple of days have been unprecedented for over a decade, so it would be a short term judgment to say Coinexx spreads are wider and weirder.
Turnkey Forex spreads near 18:00 GMT about now:
symbol min , avg , max spread pips
AUDCAD, 4.5 , 4.8 , 5.7 #####
AUDCHF, 1.9 , 2.2 , 2.9 ##
AUDJPY, 1.1 , 1.8 , 2.5 ##
AUDNZD, 2.9 , 3.8 , 4.8 ####
AUDUSD, 0.3 , 1.7 , 2.8 ##
CADCHF, 1.6 , 2.0 , 2.4 ##
CADJPY, 2.5 , 2.5 , 2.7 ###
CHFJPY, 2.6 , 4.0 , 5.0 ####
EURAUD, 3.9 , 5.4 , 7.3 #####
EURCAD, 4.6 , 5.5 , 5.9 ######
EURCHF, 1.0 , 1.8 , 2.4 ##
EURGBP, 1.0 , 1.4 , 1.7 #
EURJPY, 1.5 , 2.1 , 2.8 ##
EURNZD, 7.2 , 14.1 , 17.4 ##############
EURUSD, 0.3 , 0.5 , 0.9 #
GBPAUD, 5.1 , 6.1 , 7.7 ######
GBPCAD, 3.5 , 3.6 , 3.6 ####
GBPCHF, 3.0 , 4.4 , 5.4 ####
GBPJPY, 1.4 , 2.7 , 3.6 ###
GBPNZD, 11.3 , 11.3 , 11.4 ###########
GBPUSD, 0.9 , 2.1 , 3.2 ##
NZDCAD, 3.8 , 3.9 , 3.9 ####
NZDCHF, 3.0 , 3.3 , 3.8 ###
NZDJPY, 2.2 , 2.9 , 4.4 ###
NZDUSD, 0.5 , 2.1 , 3.2 ##
USDCAD, 0.6 , 1.0 , 1.3 #
USDCHF, 0.9 , 1.6 , 2.1 ##
USDJPY, 0.6 , 1.8 , 3.0 ##
[EDIT] and corresponding Coinexx spreads:
symbol min , avg , max spread pips
AUDCAD, 4.5 , 4.5 , 4.7 #####
AUDCHF, 1.7 , 1.9 , 2.1 ##
AUDJPY, 1.3 , 1.9 , 2.3 ##
AUDNZD, 1.4 , 2.8 , 3.7 ###
AUDUSD, 0.6 , 0.8 , 1.0 #
CADCHF, 1.6 , 1.8 , 2.0 ##
CADJPY, 2.6 , 2.7 , 3.1 ###
CHFJPY, 3.2 , 3.9 , 4.6 ####
EURAUD, 2.4 , 4.2 , 5.0 ####
EURCAD, 4.8 , 5.5 , 5.8 #####
EURCHF, 0.9 , 2.1 , 2.8 ##
EURGBP, 1.0 , 1.3 , 1.7 #
EURJPY, 1.1 , 1.6 , 2.0 ##
EURNZD, 7.1 , 13.1 , 16.4 #############
EURUSD, 0.3 , 0.5 , 0.7 #
GBPAUD, 5.2 , 5.4 , 5.7 #####
GBPCAD, 3.5 , 3.6 , 3.7 ####
GBPCHF, 2.9 , 4.0 , 5.0 ####
GBPJPY, 0.3 , 2.6 , 4.4 ###
GBPNZD, 8.1 , 11.2 , 11.4 ###########
GBPUSD, 0.8 , 1.2 , 1.4 #
NZDCAD, 3.8 , 3.9 , 3.9 ####
NZDCHF, 3.0 , 3.1 , 3.4 ###
NZDJPY, 1.9 , 2.4 , 3.0 ##
NZDUSD, 1.0 , 1.2 , 1.5 #
USDCAD, 1.0 , 1.2 , 1.5 #
USDCHF, 0.9 , 1.4 , 1.9 #
USDJPY, 0.2 , 0.9 , 1.2 #
hyperscalper
2 Likes
Coinexx is weird because its the only broker of mine that has such wide spreads on GBP pairs over the past 3 weeks. Be mindingful of the volatility with your pairs. Ive moved out to a few other brokers in the mean time until Coinexx pairs stabilize.
Edit: As always just make sure you have multiple brokers, which has been mentioned here.
2 Likes
Currently seeing some volatility across multiple markets. I suspect that any unusual spread pricing should normalize once things settle a bit. Most of the movement does not seem too unusual to me, based on the few that I track. Some were due for a major market correction, and further-exacerbated by fundamentals and the ignorant media. Not currently trading FX at the moment, though.
I do find it odd to hear that Coinexx is the oddball of the bunch.
1 Like
FUNDS TRANSFER OPTIONS UNDER PRESSURE
as ePayments frozen by FCA
[edit] preceding post providing more detail:
This is an interesting forum to follow.
hyperscalper
hello all, i am chasing this thread for long and honestly its very knowledgeable. through this thread, me and a group of my friends registered on coinexx but lately we have been facing a lot of withdrawal issues, its been 6 days me and my friend placed the withdrawal request, confirmed it 4 days ago but has still not received , when contacting over chat, they said they have escalated the request and will be processed soon, not getting any help from chat support either, just talked to sally ames there, not getting any replies on emails either. wondering if you guys can help me out, my whole group wants to move out from this broker now, as my one friend also faced the same last week. please suggest me some new and better brokers to carry on with
I have not had issues but I have not pulled out any money from coinexx since first of feb 2020 last withdrawal for me. Their was no issue at that time but this was before all these big moves. I have never been able to get profits out of traderway only the deposit. I will try a withdrawal this weekend and see. This has me worried about coinexx!
me and my friends all are facing the same issues, please suggest me another broker i can go with
Look above at the first post and pick one. We have quite a few trusted brokers.
I also just withdrew from Coinexx. Requested it Friday. Was approved and deposited into coinbase Monday.
This is not acceptable. Have you and your friends got your money now? Do keep us posted. I am with them from 6 months but never faced such issues.
tme â Can you elaborate on TradersWay and not being able to withdraw profits ? Please give a little more detail and describe the âexcusesâ they gave for not allowing profit withdrawal.