My first question is… Do they allow wire transfers to and from? If not, Im not considering them.
I believe they are crypto based but why would you wire funds in the first place as crypto transfers are much faster and cheaper?
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Have you ever tried to deposit 10k with crypto?
Yes and even more than that.
Every time Ive tried, they limit me on how much I can deposit using ACH or Credit card. If there is an easy way to deposit a larger amount to bitcoin, id like to know. The wire transfers are unlimited and easy. Fee is reimbursed so its free.
Earlier this month, Binance . US increased its ACH (Automated Clearing House) limits for USD deposits and withdrawals, allowing American users the ability to send up to $5,000 through their initial ACH deposit . After this initial amount is cleared, ACH limits for the depositor will increase to $30,000.1.11.2019
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Do you use this bitcoin exchange? Have you used others? This is great news… Id love to use ACH
Which crypto do you use? Do you use USDC ? Tied to the dollar?
I use them and some others also but I prefer Binance. Using BTC mainly for transfers and USDT some times.
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Do you ever have any slippage when using BTC? Or does it happen so faster it doesnt matter?
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Slippage is usually minimal and it could also work in your favor.
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How does Binance compare with Coinbase Pro?
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I haven’t been using them much lately but I don’t like this kind of stuff:
"It is also important to take note that Coinbase Pro has withdrawal limits in place as a default on your account. This is set at $10,000 for most accounts. If you want to increase this then you will have to submit a request.
In this request, Coinbase Pro will need more information on why you are making the request as well as a link to your Linkedin. They also ask for a bank statement in order to speed up your request. We found this quite onerous and intrusive but you may be less bothered by it."
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I’m using Coinbase Pro solely as a BTC transfer from broker to bank, so I’m definitely not married to them at this point. I’ll do some research into Binance now. I know some members in here have had issues with Coinbase main, but not Coinbase Pro (at least not yet), so all info is good info at this point. Much appreciated.
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much love to fxchoice for standing up for themselves against a rogue trader who tried to blackmail fxchoice and blame them for his bad trading
https://www.forexpeacearmy.com/review/goto?id=138082
this is why every forex broker should respond to any and every negative review to give their side of the story
EDIT: any broker who don’t respond to a negative review and let that review linger is not trustworthy imo
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I completely agree SP - many of those “reviews” are clearly written by new traders who don’t realize that they themselves are causing their own problems. That said, i found the reviews at FPA to be very helpful at uncovering what each broker’s ‘potential’ weak points are - after you really read through them all you can clearly see trends that help identify what areas you need to drill down on for each broker considered (but the issues that are self-inflicted by the trader are fairly easy to identify when you’re reading through them).
So far I have found my experience with LMFX to be very positive - I have not run into anything that has given me any cause for concern. I have found their chat and email support to be better than what i experienced with Oanda. The spread has been on-par with Oanda’s spread-based fee structure. The only challenge that i experienced was on the ‘funding’ side - i had to use vload (due to the size of my initial deposit) - LMFX wasn’t doing inbound wire-transfers (and using a credit/debit card wasn’t going to be cost-effective due to my bank’s fees/limits) so i had to use vload to accomplish that. Vload was quite an unpleasant experience overall (this was mostly due to the fact that it was a business account and i had to prove where the money was coming from) - this was more a fault of our AML requirements, but it definitely wasn’t a fun experience. But I’m glad i went with LMFX - I appreciate all of the input that everyone here has provided, it really helped save a lot of time and aggravation.
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yes FPA is good place to catch a bad trend from forex brokers like not pay withdrawals and so on
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Hello SN,
Thanks for your participation in this thread.
And thanks especially for telling us about your experience with LMFX.
It’s very important to the continuing success of this thread that we have this sort of feedback regarding the brokers we have vetted and listed. Newcomers to the offshore trading world need the guidance that such feedback provides, in order to make informed decisions about brokers, and then to muster their courage to step offshore for the first time.
I hope you will stay with us, and participate here as often as you are able.
Thanks again, for your comments on LMFX.
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Something is seriously wrong with Coinexx. These guys have kept my withdrawal on hold from Wednesday last week, that too only of $59. I wonder what they are doing with bigger withdrawals? My trust is shaking right now…anybody else experiencing this?
I have raised 3 withdrawals in the previous week. All of them were processed within 24 hours. Its best to check with their chat guys, they are usually responsive. Keep us posted.
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There is nothing wrong with coinexx withdrawal, usually I’m requesting 2 times a week and processing within 24 hours.
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