Going offshore to escape the CFTC

Objectively speaking, keeping post #1 as you currently have it seems reasonable…until something changes.

That being said, regarding CryptoRocket as a broker, I personally lost interest after experiencing regular freeze-ups without any resolve. Some others here seem to be fine with them, to be fair.

I think that if they no longer allow US customers to sign up it should be removed from group 1 and placed somewhere else while also indicating that if you already have an account with them you can still trade with them.

Personally, I would like group one to be for anyone that comes here, can immediately sign up with said broker.

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Crypto Rocket no longer meets Group 1 criteria “Offshore Brokers That Will Continue to Accept New U.S. Clients
They stated this themselves in the email.

It is unfortunate. They have been a good broker.

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Personally, I feel if that if they don’t accept new US clients, they have no business (literally) being in Group 1.

I was in JAFX when this same thing happened, and eventually JAFX made all US clients close out their accounts. Not saying the same thing will happen, but once they shut that door, it stayed shut.

If Crypto Rocket updates their policy down the road and allows new US clients, they can move back to Group 1

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if they no longer accept U.S. traders they should be remove.

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I lost about $6000 with some scammers (Crypto Kartal), unfortunately. I came across a few fund recovery ‘experts’ Does anyone have experience with MyChargeBack? Does anyone know how do they operate? Are they successful in getting back your funds?

They no longer accept US clients. My vote is to remove them.

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That’s not good, FXChoice…

Kevin:Hello, thank you for contacting us FXChoice. We experienced a technical issue with one of our servers, which has already been fixed. We apologize for the inconvenience.

My chart is frozen at 16:10 today. *and still frozen, not fixed

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I saw that too, was offline for better part of 40-50 minutes

not good but sht does happens, fxchoice for the most part don’t have these type of problems. :mechanical_arm:

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look like coinexx lower your leverage once your account get bigger, here is them confirming that, not a big problem but they should state that on their website

https://www.forexpeacearmy.com/user/reviews/226231

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:grimacing: Yikes

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was just mentioning that as a potential issue yesterday too:

Maybe Coinexx does have issues filling a 100 lot size trade, which I would need to place to equal other brokers,. More things to think about…

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I did not notice this. You are right. Based on this information alone, I believe that they do not belong in group #1.

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@_METHOS @Alisha2019 @Xanaphlaxes @greenflash808 @SmallPaul @Cryptosurf

Thanks for your input, guys. CryptoRocket will be removed from Group 1 today.

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If the market does not have that much volume at some point for high lot size, what can the broker do? I would rather appreciate the fact that Coinexx is honest about the facts in their response on FPA https://www.forexpeacearmy.com/user/reviews/226231.

I have not seen any broker being so upfront, generally they are hiding or manipulating facts. Coinexx could have chosen not to reply on this 5 star review, but seems they rather wanted to tell the facts openly. Kudos to Coinexx for this.

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would better if they stated those facts on their website

Me and my fellow group of traders have been with Coinexx and FxChoice both. Never had any major issue with either but we definitely find Coinexx to be better for their lower spreads and also Coinexx servers are more stable. Have not come across any server freeze issue at Coinexx during the past one year, and slippage is also quite minimal.

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i just put some funds into hugosway let’s see how it goes, i keep you guys posted also might be time to add them to our list since we lost cryptorocket

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The same is true for FTMO Challenge.
If you are really capable of making consistent profit of 10% monthly with drawdown below 10%, you are better off trading on your challenge fee.
Assume traders A and B have the same trading skill level.
A pays $400 for a FTMO $50000 funded account.
B trades $400 on his own small forex account.
Since A need to make 10% and can not exceed 10% drawdown, or he will lose $400.
B can increase his leverage 10 times as A and if he lose 100% he lose $400.
So both have the same risk.
Assume A passes FTMO challenge at the end of first month, and passes verification at the end of second month.
So assume there are 21 trading days in a month and A makes 10% monthly profit, which translate into a daily profit of 0.00455.(1.00455^21=10%)
B uses 10 times leverage and make average daily profit of 0.0455.(10 times of what A makes)
So B makes 255% at the end of first month.(1.0455^21=255%)

At the end of 1st month: A passes challenge; B makes $400X255%=$1020.
At the end of 2nd month: A earns a funded account; B makes $1020X255%=$2601
At the end of 3rd month: A makes $50000X10%X70%=$3500; B makes $2601X255%=$6633
So after 3 months, A makes $3500, B makes $1020+$2601+$6633=$10254.
Going forward, B’s advantage over A is getting bigger and bigger, due to power of compound.

If A makes more than 10% monthly, then B will also make more, and B’s advantage over A is only getting bigger due to compound.
If A fails to makes 10% monthly, he will lose $400, while B has 3 possible outcomes: 1)he can make less than 255% monthly but still makes money;2)he will lose some money but still has some money left in his account;3) he lose all his money.So B is still better off.