Okay thanks a lot man. I’m probably going to spread some of my risk over there.
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You want the MT4.ECN account
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Was going to add LMFX as a 5th broker, I know we have them designated as trusted. Anyone currently using them or any experience? Looks like they don’t accept crypto, can deposit with a cc, but only withdrawal to US is bank wire? Can anyone confirm, that’s like stone age. Unless they’re doing it for a reason?
At this point, any offshore broker offering crypto withdrawals/deposits is doing far more than providing convenience to their traders, they are offering something that many traders have come to need as a necessary means of transfer.
Any broker that does not offer this simple and free solution is not only ignoring the needs of their current and future clients, but is potentially placing unnecessary risk over their funds in the off-chance that they are forced to shut down operations and/or have no viable way to refund accounts etc… Any added reporting compliance requirements should not be anything more than what they are already dealing with. So, yes, like a stone age broker.
That said, I cannot comment on LMFX, sorry.
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You’re a pretty respected poster on here, who do you have your risk spread with? You can send me a message if you don’t wish to post publicly. Thanks.
Your information is correct. Here’s a live chat with LMFX from a few minutes ago –
Maggie Mendes 01:08
Hello. How may I help you?Clint _________ 01:10
Hello. I am a US resident / US citizen, considering an account with LMFX.
What are the deposit and withdrawal options available to US residents?Maggie Mendes 01:10
The available funding options are direct card deposits with a VISA and Mastercard, Instacoin and Vload.There is an option for a wire transfer trough VLoad and Instacoin, too.
The only option for withdrawal for US clients is the wire transfer.
Clint _________ 01:12
I see. Thank you very much.Maggie Mendes 01:12
You are welcome!
after watching how LQDFX handle their customers complaints and with my experience with them i say LQFX should be labeled as a trusted broker
It should be noted to any readers that we are referring to LMFX, and not LQDFX. I know of other traders that use LQDFX, but I have not yet tried them out. I know nothing about LMFX.
yes im talking about LQDFX not LMFX i traded with LMFX they was good but i had to wait 9 days for my first wire transfer and they refuse to add crypto for deposits and withdrawals so i left
Okay, that suggestion is now on the table. — It’s time for the rest of you guys to weigh in.
Should LQDFX be designated as a Trusted Broker ?
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I cannot personally attest to LQDFX since I have not yet used them. However, I know of other US traders that have used them for some time and continue to do so. That being said, I would add them to the list. I assumed that they were already on the list.
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they are not designated as a Trusted Broker yet
i’m glad you brought up you know other traders that use them because some brokers on our list will never be labeled a trusted broker because of the popularity of other brokers on our list, a lot traders on here are not using LQDFX we need a system to add brokers to our trusted broker list
EDIT: The words Trusted Broker carries a lot of weight and good brokers like LQDFX get overlook for that reason
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Having an issue with EagleFx. Monday 4/6 I sent over 1K via cash app. It was sent via two transaction as I inadvertently put in a unnecessary zero at the beginning (0.01384150 instead of 0.1384150)
The smaller amount posted to my account but not the second, even tho I got the confirmation that they both confirmed on the blockchain.
Chat support said they did receive and will be sorted and credited.
Next day nothing. Chat support said they are still looking into. Later in the day they wanted proof where the funds came from. Sent off the screenshots and email confirmations from the cash app.
Then they said only one transaction was sent when clearly it shows two.
Then I got the email confirmation of credit to my account, only to be followed up by another email that they were still reviewing.
They credited my account and then they withdrew/revoked it minutes later.
Last email early this am they are still trying to figure it out.
I have to revisit them. I have an account with them but i recall they had a minimum distance to next trade. So scaling in was a bit frustrating. However since mostly been trading the DOW lately have to see how they are with that.
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Thanks. I was looking at LQDFX as well. I think I will add as my 5th broker. Not sure how you guys do this, but I believe I have the risk mitigation about as perfect as you can get. I keep 65-70% of my “trading capital” in my FDIC insured bank and all trading is done based on that amount. Leverage used, stops, profits, etc. I have the other 30-35% that I need for margin spread over 4 (soon to be 5) brokers. So I have no more than 6-7% of my actual capital at one broker. How folks who use US brokers don’t see this just doesn’t make sense. I would need to put my entire capital with a CFTC broker with basically the same protection of funds as I have offshore. In addition to the horrible conditions, I checked a big US broker last night spread was like 14 on GBPCAD, I was getting 2.9 Yet the folks trading with US brokers tell me trading offshore is such a risk. Kind of ironic
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so what’s going on with eaglefx, did the money transfer into your account?
i don’t think they are trying to rip you off there was an error somewhere that is causing a delay
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Im not sure, but im thinking they are getting tripped up by me sending 2 transactions to the same wallet address. Even tho it clearly shows received and confirmed on the blockchain.
The money was cleared and deposited, then they revoked/withdrew it minutes later. Even after twice telling me that the funds were there.
Im not a fan of how deposits are randomly generated wallet addresses either, but regardless this is 2020, and it shouldn’t be this difficult. To my understanding, each wallet address is generated with corresponding private keys.
Im sure they aren’t trying to be nefarious, at the same time seem to be getting tripped up over this.
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oh no, dude they say only use the wallet address for one transaction, doesn’t mean your 2nd transaction won’t go thru
EDIT: base on other brokers i deposit cryptos with, they always say only use crypto address for one transaction and to generate another address if you wanna deposit again. i don’t think eaglefx have that disclaimer
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I understand that may be the case. But come on, this is 2020 and to have a shlt policy like that on money transfer is unnecessary. To my understanding randomly generated wallet addresses comes with associated private keys. So funds disappearing on the chain these days is virtually impossible.
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