Going offshore to escape the CFTC

Anyone in here use https://bitpay.com/personal?

Apparently they have been around since 2011. Have a wallet and debit card ($1500 daily ATM limit, which I like). Just starting my research on them.

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Someone way up there (lost the post) mentioned Coinbase transfers to Paypal - just remember Coinbase charges a 3.75% fee from the total transaction amount

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that fee is ti buy crypto with debit card

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I’m on a website right now that says “Coinbase users that are based in the United States have the option of accessing PayPal’s Instant Transfer. This means that users will have their funds credited into their PayPal accounts instantly, but they will be charged a fee of 3.75% form the total amount of the transaction.” but I just watched a YouTube video that said there are no fees, and Coinbase doesn’t mention fees to Paypal, so I guess we go by Coinbase site


 and in my case I still need to transfer from Paypal to my bank which takes the same time as a straight bank w/d from coinbase, so I guess nothing really matters LOL

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I’m not talking about stop out level :slight_smile: I’m talking about the ability to place a pending stop loss order where you want it ATR 1x,2x etc. or some price structure level. Example, I’m looking into trading Crypto with the Offshore Broker CryptoAltum. Their Stops Level in the Contract Specification (the level where you are allowed to place a pending stop loss order from current price) is ridiculous for BTCUSD for short term traders, IMO. Because of this, I’m having to build in MQL5 a virtual order system that keeps track of my SL for me (automates and manages my trade after entry using market orders) for this broker. LQDFX doesn’t use the same Contract Specification for Stops Level as Tradersway and Coinexx. For folks that want to use a Hard SL this could be an issue depending on if they are Scalpers or not.

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Yeah i noticed that after I signed on with them. Was put off by it TBH. I like to scale in pendings around key areas. That “Stops level” limits my ability to trade that way. Haven’t traded with them since.

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Have you found a broker you like for Crypto?

ByBit
FTX
:+1:

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My Bad :confused:

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All good; we are all trying to help each other out–to give us an ‘edge’ for navigating our broker options :slight_smile:

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Traders Without Borders - 2

The Offshore Broker Thread

September 24, 2010 – September 24, 2020

10 years

almost 9,700 posts

more than 1,600,000 views

12 rock-solid offshore brokers listed



To all of you who have contributed to this thread, and made it the success that it is —

Thank You - 4

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but I assumed this is a standard disclaimer written on the website of most brokers listed here like coinexx LMFX, TW, etc

hmm I spoke to their chat & informed they are open to “US citizens living abroad” :wink: was able to sign up with an email & am quite impressed with their conditions so far. Nothing like trading with a broker with a regulatory umbrella yet conditions like some of the brokers listed here

A topic came up on babypips: “Is manual trading coming to an end?” I posted a lengthy response about this. Here is a link to my thoughts on the subject for those interested.

I filled out the application and waiting to get their final approval but not looking good so far. This is the screen that came up after I submitted application.

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The disclaimer mentioned on all brokers that accept U.S residents that I have seen are either not there or the wording is different from ones that don’t allow it. Such as this for example from LMFX “All information on this website is not directed toward soliciting citizens or residents of the United States.” Compared to the ones that don’t allow they usually say something along the lines of " IC Markets does not accept applications from residents of the U.S. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation." Also drop down box for country location will usually have U.S missing from the list as well.

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FxView

To: @Josh73 and @John81az

I think you guys are wasting your time trying to sign up with FxView.

This broker is domiciled in Cyprus, regulated by the Cyprus CySEC, and by several other European regulators (FCA in the UK, BaFin in Germany, ACPR in France, CONSOB in Italy, CNVM in Spain, and Finanstilsynet in Norway).

There’s a reason why we list NO offshore brokers in Cyprus, the UK, Germany, France, Italy, Spain, Norway, 
 or a host of other European countries:

The regulators in these countries forbid their brokers to host American clients.

If you succeed in tricking FxView into taking you on as a client, by pretending to be someone other than a U.S. citizen living in the U.S., expect to be found out. Expect to have your account closed abruptly. And don’t be surprised if you walk away with your initial deposit, but none of your profits.

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Hello @Clint

first of all, congratulations on completing 10 Years for the thread :slight_smile: , its a great thing that you are doing and it definitely has helped me over the last several years.

With respect to fxview, I think its a solid broker and can end up being a very rare find.

Their commissions are by far excellent, their spreads are super amazing when compared to any other broker that I have seen. They infact are more competitive than coinexx or for that reason better any other broker that we have on the list.

If you remember, I said the same thing about coinexx when it was first introduced on this thread and I have been pounding the table that crypto based brokers will be the way forward. Since then we have seen many brokers come up with the same coinexx theme.

It might sound too dramatic, but often times we find gold where we least expect it to be.

I will do. My research on it and will share with everyone here on this thread.

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you should start another thread on FXVIEW, they won’t be listed in this thread with them being heavy regulated with strict rules not to accept U.S. Residents

@SmallPaul really! when did you start making decisions about this thread ?, Good Morning !

I left this thread because of “Toxic Flow” that we saw in here and I dont want to have anyone start that again.

we have never listed a broker that is regulated by those regulators and we have only list brokers that openly accept U.S. resident :kissing: also FXVIEW will be in serious trouble with those regulators if they accept u.s. residents

to easy for the NFA/CFTC to go after a broker that is heavy regulated like FXVIEW, they are regulated by the following regulators

Cyprus Securities and Exchange Commission – CySEC

UK Financial Conduct Authority – FCA

German Federal Financial Supervisory Authority – BaFin

French AutoritĂ© de ContrĂŽle Prudentiel et de RĂ©solution – ACPR

the Italian Commissione Nazionale per le Società e la Borsa – CONSOB

the Spanish Comisión Nacional de Mercado de Valores – CNVM

the Norway Finanstilsynet

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