Here is how I looked at it when I decided to go offshore years ago… the EUR/Crypto to USD exchange spread + slippage and expensive wire transfer fees were the cost of doing business and would be greatly outweighed by the potential gains generated utilizing 200-500:1 leverage.
Thats what Im thinking too. What is your fav broker? Fxchoice only has 200:1… Id sure like 500:1… My dd is small, but have lots of trades.
I was with tradersway 100-1000:1, FXChoice 200:1, Coinexx 500:1 & LQDFX 300:1.
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Have a fav?
I started out with Trader’s way and they were solid, I then switched to Coinexxx when they hit the scene and they were great. I split my ticket size and copy traded to all of them at one point last year, but with more capital @ risk now I currently only deal with FXChoice (they have several 7 figure accounts + Wire transfers).
I like FXChoice a lot. However they wont accept USD wire deposits and only BTC withdraws. You can inquire about other withdrawal options, but its a case by case basis.
I store my Bitcoin offline on a Trezor
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Im moving towards the idea that has been discussed here… Opening a checking account in the USA and keeping my money in EUR… Then the simple wire transfer works.
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There is an update on Crypto Rocket for everybody. Please see below. It came as a shock to me as I have been researching about them for quite some time now and when I finally decided to open an account, they said they don’t accept US clients anymore!
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RIP Crypto Rocket
Sounds like what went on with JAFX. They stopped taking new US users, but current account holders could keep trading until one day they made everyone close out their accounts
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That is always a risk with these newbie brokers. I could never rely on them. Rather go for brokers with a long history and standing in the market. Like Traders’Way, FX Choice and Coinexx. My personal fav has been Coinexx
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I just talked to Coinexx… They seem to have the best margins… Also let you do Money wire USD deposit AND withdraw… Sounds to good to be true…
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ok i just withdrew all my funds from cryptorocket, no problem there, they was pretty good to me but no need to trade with them if they no longer accept u.s. traders
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This is true. I have been using Coinexx for a while now, have had no issues with them. Customer service is also great. I would highly recommend them.
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They also insist that the bank has none of my personal info… Not sure if thats true or not… but they by far have the least hassle deposit/withdraw… FXChoice is an act of congress to move money around… unless you are only dealing with 500 dollars etc… Cant see how any serious trader could work with those restrictions. Thanks for the thoughts on Coinexx… Im impressed so far too.
Ill start small with them.
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Thanks for the (bad) news, Sara.
And welcome to this thread, by the way!
I will post a NOTICE on our CryptoRocket listing on page 1, regarding your news.
And then, in a few days, I will remove CryptoRocket from Group 1.
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Friend of mine just opened a new account (from USA IP) today with crypto rocket and funded it too. No problem with crypto rocket from what my friend is saying. Talked with them on the phone. They called him to see if he needed anything. Crypto Rocket called me last year when I opened a account with crypto rocket too.
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yeah i just open an account with them using my friend computer from an U.S. ip address everything went smooth, and yes i do have a live account with them already but just wanted to confirm what you said.
EDIT: they do confirm on live chat they no longer accept U.S. residents so they should be remove from our list
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