Going offshore to escape the CFTC

good job coinexx they are on my most trusted broker list :hugs:

2 Likes

That’s very good to know. Btw, I am hearing in my another group that Coinexx sends withdrawals in less than 24 hours. I haven’t tried myself lately. But was that case, in your particular experience?

1 Like

they have tried to cut down the time withdrawals take, but needs a little more work

1 Like

So the withdrawal I did before the one that had an issue, I received the withdrawal request email on Sun, Jun 7, 12:42 AM. I received their approval email at Mon, Jun 8, 8:12 AM and my funds were transferred 2 minutes after the approval email. So under 8 hours. I used GUSD for the transfer.

2 Likes

now if they can do all withdrawals within 2mins after the approval emails and we have our funds within 8hrs that would be perfect

with eaglefx and cryptorocket i get my money within 4hrs same day

1 Like

I’ve always just used BTC for my transfers. It’s definitely not a stable coin, so you need to basically transfer it like you trade it and wait for an upswing before you do it.(or if you feel frisky, transfer on a downswing and cross your fingers) But I’ve never had issues from brokers, between brokers, into or out of crypto exchanges or apps.

2 Likes

its’ crazy thinking USD bank wires can take literal weeks to go from broker to bank, but crypto takes hours. Guess that’s the nature of the beast

2 Likes

That would be wonderful indeed. But I guess given the much bigger scale of Coinexx, it would be unfair comparing it with the likes of eaglefx and cryptorocket. Since they have several other plusses, as long as withdrawals are coming in 24 hours, I am a happy client to trust Coinexx with my money.

1 Like

Good to know thanks for sharing!

2 Likes

I was really impressed with Coinexx’s support on my withdrawal issue. Here is their reply after I told them that I posted on Babypips about them fixing the problem.

“Thank you very much. I really appreciate your support and understanding here. In future, if you face any issue or have any questions, please do not hesitate to contact me.”

2 Likes

depends on what your trading, i have coinexx as one of the brokers i use and not all withdrawals comes in 24hrs but they are rock solid as a broker

1 Like

Since we are talking about Coinexx, hopefully they are reading this and will fix their website. The captchas are getting ridiculous and oftentimes, require multiple attempts to bypass. The website also flakes out and gives me a server busy error unless I first refresh the page. Couple all of this with DDOS protection and it becomes a lot of time wasted. It’s a small thing, but if nothing is said, then we should expect nothing to be done.

Regarding Coinexx being much larger, and comparing them to smaller brokers being unfair, I tend to think the opposite. They should be held to a higher standard in my opinion, as they are setting the bar and should have more resources available to them.

3 Likes

Who is confirming Coinexx being larger? According to this Eaglefx handles more daily volume than any of our other brokers

Largest Forex Brokers in The World | Biggest Forex Companies by Volume

Anyone know where we can actual see the daily volume of “our” brokers?

1 Like

i don’t know maybe this will help

as you can see base on certain currency pair coinexx is doing more volume

https://www.myfxbook.com/forex-broker-volume

1 Like

Thanks, just what I was looking for. I was able to filter and just select the offshore brokers. Strangely, LQDFX and LMFX aren’t even listed. Trader’s Way has most volume across all pairs, and by a lot, up to 10X EagleFX on some pairs and even double and triple FXChoice

2 Likes

i think you have to have 10k live accounts or advertise on their site to be listed

1 Like

So during my FTMO challenge, not really impressed by LMAX spreads.Thought it was “institutional” feed Look at GBPAUD, GBPCAD and EURCAD. I trade primarily crosses including these 3. You can see why I love Traders Way.

4 Likes

Update - I just checked about this with Coinexx earlier today and here is what they had to say!
image

3 Likes

I left Trader’s Way simply because they don’t offer indices. Generally decent experience with them - had a great big spike issue one time couple years back affecting a lot of people but I think they dealt with it and refunded any losses if they occurred so that was good of them. But I need my indices. And for a registered offshore broker that hurts. Would love to use them.

2 Likes

Yes they stopped offering indicies shortly after I started using them in 2015. Originally why I started using the multiple broker approach and now of course, it’s more of a risk mitigation strategy.

2 Likes