Just had a friendly chat with them. Might end up being a replacement for Crypto Rocket if the spreads are nice and tight. I’ll add them to my research list
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i was thinking the same thing about the replacement for cryptorocket, 'm pretty much satisfied with my brokers ATM
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Still continuing the search to find a US bank that will handle crypto deposits.
Not there yet, but news gets more promising each week
This is an older article of course, but it’s still heading in the right direction
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sound like a added service for their high-net worth clients that’s been moving millions of dollars a day in crypto
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can anyone corroborate that the margin for btc on fxchoice is now 3% or ~33x? I wasn’t aware that they upped the leverage, but the appeal is there. bitmex is forcing kyc now, plus it was just a terrible exchange. Fees appear to be roughly 25% or .0025 on fxchoice. Crude oil is 4 cents spread. Between crude and btc and eth, fxchoice is looking that much better.
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If you are looking for high crypto leverage check out CryptoAltum; 1:500 crypto leverage and no KYC.
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As the client’s trading volume increases, the maximum leverage offered decreases, as per the tables below:
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Yah that’s pretty standard for all brokers; each have their own cutoff points. Looking at their table, their cutoff point seems low.
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same with forex the bigger the trade size the lower the leverage
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Our newest Group 1 broker, AAFX (St Vincent and the Grenadines) has come under attack by the CMVM, the regulatory authority in Portugal.
This “attack” is essentially equivalent to being placed on the CFTC’s “Red List”. In other words, the CMVM is saying, in effect, that AAFX is not registered or regulated in Portugal, and therefore Portuguese traders should not deal with AAFX. But, if they do so anyway, there’s nothing the CMVM can do about it.
Here’s an article from Finance Magnates –
Here’s an excerpt from the article –
Portugal’s watchdog confirmed that registration under the aforementioned act is required in principle, even for overseas operators, for offering financial instruments for residents or for transacting with them as counterparties.
The watchdog has also alerted investors against other FX brands, most of which are offshore brokers that operate in a loose regulatory environment.
I had to chuckle at the phrase, “…registration under the aforementioned act is required in principle…”
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IS there anyone familiar with KOT4X
Good afternoon - I’m looking for some of your current (best) recommendations for an unregulated, offshore forex broker. I primarily use a grid-based strategy with an EA. I’m in the US and have been with Oanda for some time now, but I’d like to add another (smaller) account to take advantage of the higher leverage, hedging (and lack of FIFO) - I just opened a couple of demos at LMFX (due to them being on your trusted broker list) - so far, things are going OK with them but I thought it would be worthwhile to ask the long-term traders here for their current (overall) best recommended broker (it seems like it’s primarily between LMFX and Coinex?).
i was about to open an offshore LLC (to enable opening an offshore forex account with IC Markets) - but luckily i found this thread before wasting a bunch of money. THANK YOU ALL SO MUCH !!
The amount of effort and work (and time) that has gone into this thread is incredible - it’s been a huge help.
Thanks again!
SN
my most trusted broker list.
fxchoice
tradersway
coinexx
lqdfx
lmfx
eaglefx
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I’ll throw some more in the mix; however, seems not many people that post on this thread are using them.
and FXBREW (would have had a cool logo for this but bpips only allows one pic upload for ‘new’ users)
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Thanks Paul - you have been a big contributor here. Are these in order of preference? If not, if you had to boil it down to your ‘most favored’ - who would that be? (which ones have you yourself had real accounts with?)
thanks again - you guys have been invaluable. I’ll contribute what I can once I have some experience with any of them.
All i can say at this point is that I have opened 2 demo accounts with LMFX (as a result of them being on your Trusted Broker list) - i had to make extensive use of LMFX’s chat support because i had them make several changes to the account setup which in turn caused some tech challenges (nothing that was their fault) - but I found them to be very quick / helpful overall. I have found some conflicting info out there related to whether they allow / don’t-allow hedging (and some other fee-related questions) - so I have sent them a detailed list of questions in an email and we’ll see what comes back.
SN
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Thanks Pterodactyl - for now, we are definitely going to keep it limited to the brokers that are on the ‘trusted’ list - it took me a while to get to the point where i’m open to trying a non-regulated offshore broker (which i wouldn’t have done if it weren’t for the volume of information and experience recorded here over the years). I look forward to sharing my experience - there’s power in information and the participants here have figured that out - that’s great.
SN
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base on my personal experience with live account and making multiple withdrawals here are my most trusted broker list in order.
fxchoice
lqdfx
coinexx
eaglefx
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wow that is high for crypto!
Mine based on withdrawal ease, withdrawal times, customer service and general ease of use would be:
IC Markets
EagleFX
Crypto Rocket
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Thank you Jessoprules - IC Markets was who i was planning on using, but I’m a US citizen / LLC. Unfortunately that took IC Markets out of the running (CFTC has turned us US citizens into deplorables - the regulated offshore brokers won’t touch us) - pretty sad.
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