Going offshore to escape the CFTC

gotta show eaglefx some love my withdrawals are being process 10 minutes after i submit it. :+1: :+1: :+1:

EDIT: money is now in my coinbase pro account, total transaction took less than 30min, that is the quickest i ever got my money :love_you_gesture:

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Sent an inquiry to FTMO asking if multiple account challenges can be taken simultaneously, using a trade copier. Support responded that it is acceptable. :face_with_raised_eyebrow:

Obviously, this response led me to the question of a higher-tier option being available where traders could pay more at the start to have a larger account, speeding up the entire process, since the end result would be the same – traders could essentially take the challenge 1 time and have 3 funded accounts. The only difference is that a trade copier would not be needed.

Needless to say, I am really surprised by this.

FTMO follow-up response still pending.

yeah i seen that What capital will I trade as the FTMO trader? - FTMO.com

Rather than $1800 upfront… I was going to try to get 1 100K account, make money the 1st month, then use part of the profits (testing withdrawal process also) to pay for the next 2 simultaneously.

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I totally agree.

Don’t forget you will also be refunded your 1st challenge with your first profit share wire. I’m currently running 2, Have like $850 more to go in one and $3100 in the second which I started two weeks later.

I received a PM from one of our members, alerting me to a U.S. court ruling handed down yesterday against JAFX, a retail forex broker domiciled in SVG. The CFTC went after JAFX for soliciting and hosting U.S. clients. They strong-armed JAFX into signing a “consent order” in which JAFX agrees to pay $600,000 in exchange for the CFTC dropping all further charges against them.

Whatever you think about signing a “consent order” to get the government off your back, consider this:

In the civilian world, this sort of extortion is referred to as a “protection racket” — pay up, or we’ll break your knee-caps. In government, the sort of extortion carried out by the CFTC is business as usual.

If you are a retail forex trader in the U.S., know this: The CFTC does not have your interests at heart. Forget all the CFTC bullshit about “protecting the investing public from predatory dealers”. The CFTC cares only about maintaining their position as boss of a stable of CFTC-controlled commodity exchanges.

Even though the CFTC has been granted regulatory authority over the off-exchange spot forex market in the U.S., they believe that the very structure of that market fails to comport with the way things should be run.

Off-exchange is the issue, and the CFTC intends to put an end to it They hate the relatively free, worldwide spot forex market, and they are determined to destroy it. You read that right – the CFTC is not just intent on destroying off-exchange retail forex trading in the U.S., they are intent on destroying this market worldwide.

It is the grand ambition of the CFTC to force all commodity trading, including all trading in currencies, onto regulated exchanges under the worldwide auspices of the almight CFTC.

Will the CFTC succeed in their grand ambition? Probably not this year, or next. But, most likely, before our forex trading careers are over, the CFTC will achieve the dictatorial control they crave.

The little CFTC-monster the Congress created 46 years ago has grown into a very large, very dangerous monster today. Only the U.S. Congress can change the mandate of the CFTC, or rein in CFTC overreach, or slash CFTC funding.

And Congress has shown no inclination whatever to get control of their creature.



Props to our member for sharing the Finance Feeds article, and to Forex Factory, where she first saw it.

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If it wasn’t for crypto, the plan would have been a flawless victory for the CFTC by now.

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So typical. Bribery and extortion are illegal in this country, yet are legally carried out on a daily basis under the guise of seemingly-legitimate practices and fancy nomenclature.

We need to be able to bribe people.
–Okay, we’ll call it lobbying.
Yeah, that sounds legit. We can even create high-paying jobs for it to further-legitimize it.
–Indeed. And when corporations want some legal loophole written into legislation, we will make them pay for it through campaign financing, taxes and other donations so that it looks legitimate.
What about extortion?
–Easy. Regulatory compliance. Create inconvenient rules that allow us to impose unreasonable penalties for huge paydays. If that doesn’t work, we will create more restrictions and tougher guidelines.
Okay. But what if they can’t pay?
–They go to jail or we put them out of business.
Perfect.

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crypto is slowly being attack by the U.S. government, they are also trying to come up with laws to oversee cryptos.

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my swing system doesn’t work with FTMO because of the drawdowns

https://ftmo.com/en/metrix/2090180246/?sharer=9cc575132

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Hi SmallPaul,

I am a swing trader as well, fib weekly pivots, I break each position into smaller trades, so I can exit some when going against me, enter at a better price, add when going well, etc. My risk per position is .083 and I never have more than 3 positions on at a time, so max daily is .025. It;s doable, just have to adjust size. I was accustomed to 5-6% profit weekly but my DD would approach 20. Just looking at the bigger picture, if I can make 2% weekly on a 600K account, I’m good with that.

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that’s a good plan

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What is the maximum number of losses in a row your system can have in a single day?

Whatever ^^^ that number is, drop your risk per trade until that single day losing streak is under 4K (4%).

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FTMO just sent me this info

" During the Free Trial trading period, you’ve traded 5 trading days and so the objective for a minimum of 5 trading days was met.In total, you opened 8 positions, and on average, you traded 1.6 positions a day. We consider this to be a less active way of trading "

" Your success rate was 62.50 %. This win rate was accompanied by a positive RRR (Risk Reward Ratio) with the value 1.12. It is important to mention that your trading results have a positive RRR, which in most cases is a sign of a successful and disciplined trader.

The average profitable trade was 1 912 USD and the average losing trade was -1 714.49 USD. The ratio between the maximum reached profit (Max. profit) 4 063 USD and maximum loss (Max. loss) -1 213.48 USD is 3.35, which signals a positive ratio. The total profit for the evaluation period reached 4 417 USD."

they also sent me some graphics and other stats

I wonder if they think the 1.6 positions are “less active” or the number of actual trades?

Do they want you to simply stack positions on single trades then? That’s more active, but more risk too

Or do they want more actual trades, actual entries and exits?

good questions

:pray: get it done my friend and keep us posted

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It’s just a report… if you have 1 trade a day for 10 days in a month that’s perfectly fine, as long as you hit the target.

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hi members,

is account verification required with coinexx

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