Going offshore to escape the CFTC

I’m just frustrated because it should not take 3 days to verify my docs, and technically, they allowed me to fund an unverified account. If i need to upload something different, just let me know.

Just to update, LQDFX is now approved and I am able to trade.

Glad to hear it :+1: Did you happen to notice some pairs/indices showing averages instead of bid/ask?

No, everything appears normal.

I wonder if it’s because I’m on their demo.

ROLLOVER SPREADS TURNKEY AND COINEXX

Earlier there was some discussion of spreads. Here, 30 minutes
after Rollover start time, are the spreads for Turnkey and Coinexx.

Turnkey:

and Coinexx:

While this looks terrible, these two brokerages, during
normal hours, have the best pricing, the fastest execution,
and the lowest commissions of the available offshore
brokers for U.S. persons to use.

[UPDATE ASIAN SPREADS 3 hours after rollover on Friday]

Turnkey (asian session):

Coinexx (asian session):
coinexx-asian-spreads

hyperscalper

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IG MARKETS MT4 U.S. BROKERAGE

Recently, I have had some access through a client, to
IB’s MT4 offering.

It doesn’t look too bad, although I was shocked that Limit
(aka Pending) orders can’t be placed any closer than roughly
10 PIPs from the market. FIFO is still a factor, but I have yet
to figure out just how they enforce things in that area.

I’m accustomed to using Limit orders which are place
INSIDE the Bid/Ask spread, rather than Market orders;
but that would be impossible with IG’s MT4.

Nevertheless, it is a usable brokerage, even though BOTs
would have restrictions which we don’t see in Turnkey or
Coinexx or some of the other offshore brokers; including
the FIFO restriction and the 50:1 leverage limit.
Also I suspect commissions are much higher than
Coinexx or Turnkey as well; due to their obligations
as regards NFA membership and other overheads.

Their U.S. available symbols use a suffix “FX” so
EURUSD is EURUSD.FX for live accounts.

hyperscalper

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i just open a demo account and don’t see what your talking about, everything is in line with live account

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That's so weird... Idk what's up with mine, but here's a screenshot of it.

I don’t understand what you are trying to show. That clearly shows a spread of 1.3 between bid and ask.

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The prices in the one-click box do, but not on the chart itself.

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This one shows it clearer.

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I agree. What’s the point you’re trying to make here? And I’ll point out
the obvious that it’s a DEMO account, which I usually don’t take seriously.

hyperscalper

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Shows what, clearer? In general, you can’t expect the chart value to
be identical to the order entry panel on a momentary snapshot. So what
is the overall point you’re making here?

hyperscalper

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This is a curious statement. Can you refer me to documentation that would explain this?

DATA RATES ON DEMO VERSUS LIVE ACCOUNTS

If you have software which measures the number of updates per second
(aka “ticks”) you’ll generally find that a DEMO account yields many
fewer updates per second; versus a LIVE account. There’s not
much incentive to blast out every tick on DEMO, whereas there
is for LIVE trading.

And, as for FILL prices; obviously DEMO accounts can’t be relied on.
There are hundreds of examples of some micro scalping EA that makes
money; on a DEMO account, that is; versus LIVE account failures to
make money. Why? Maybe they want DEMO accounts to present
an optimistic FILL behavior; but only a LIVE account can tell you
the *truth". :rofl:

hyperscalper

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Fair enough. I have personally never measured such things. One would hope that brokers are honest and care more about their clients than they do about making money. But…one would also likely be living in a fantasy world.

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Hey, you’re talkin’ to the greatest fanatic there is on accurate pricing; but
wouldn’t you just in general, expect to find a complex chart slightly lagging behind the
actual price which some other portion of an app might be instantaneously showing??

It may be that you have the expectation of blinding speed in charting
updates; but let’s be reasonable here. Obviously within a quarter of a second,
it’s possible for Price to change by a huge amount. Where’s the guarantee
that the itty bitty panel, versus the chart (versus any other aspect of the
client application) shows a "perfectly synchronized, and correct* Price.

If you’re not colocated; you’re looking a few hundred milliseconds into the
Past anyway; if you think about it for a few milliseconds… LOL :rofl:

When I design charts; especially if I’m gonna be looking at them
remotely; I deliberately DO NOT update the screen on each update,
due to the overhead involved in “mirroring” the distant desktop
to my local viewer. Just something to think about !! :slight_smile:

[edit] when I have a semi-auto or automatically triggering application
I want it on a dedicated server in the Netherlands. It sees the Pricing
and Indicator situation, and it triggers before i’ll get a chance to even
see a Price movement. I’m not gonna manually try to react to something
with precision, if I’m looking at a delayed data stream rendered
locally, anyway !!! Here’s what my custom automatic “fire and forget”
triggering console looks like, just FWIW, I wrote this stuff:

So, this triggering logic process needs to be colocated so that it sees
conditions long before I would see them on remote, and is able to trigger
with minimum latency.

hyperscalper

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I suppose that I will start by saying that I am not an expert on MT4/5 and that trading via a broker is still relatively new to me, comparatively speaking.

However, from a general, software perspective, I would expect that the price data that is being fed from the server to the software would be singular, and not two, separate data streams for chart and buy/sell panel (just assuming here), and that any discrepancy at the software level should be mostly negligible to the human eye. Nonetheless, I can concede to the idea that a broker may not give priority to demo servers over live servers, and that the results may be slightly different.

That being said, however, I can confirm that the AUDUSD pair that jdzicari is referring to, does show a consistent discrepancy between the chart price and the buy/sell panel…not sometimes, but always. I think that it is worth noting, even if it is on a demo account.

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So 2 days live with LQDFX, everything running fine. Spreads great, execution good. However, what I do find odd is they do not send the daily confirmation email at rollover like all of my other brokers.

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