@SmallPaul ha yeah we’re speaking the same language my friend. .5%, as in half of one percent, is $25 for a $5k transaction.
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ok thanks. I did check kraken out, but since they only accept wires, i’d still come out ahead going with Coinbase pro, since i can ACH for free out of my checking account into the coinbase pro account. Why must money be so confusing?
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thanks @Brutha. I had initially disqualified Turnkey because they don’t offer MT5 and I have a EA i paid to be developed for MT5, but I may have to breakdown and get it coded for MT4 as well. Trading unregulated foreign brokers terrifies me, and i want to be spread across three account at a minimum, so i’m running out of decent options that use MT5
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With you a 100%, its a shame to see what these paid ones are doing in here. Its interesting to see how active these broker agents are on this thread and how they hump on anyone talking against them.
If this question has been answered before, just direct me to the post
But what exactly can the CFTC do to offshore forex brokers? They can threaten them verbally or with a strongly worded email - but what can they do to them physically and legally?
And if they can’t do anything legally - why do offshore brokers bow down to them so much? There must be something they can do legally, or they wouldn’t cave in.
by the way guys if the broker accepts stable coins like USDC in particular, the coinbase conversion to USDC is free if im not mistaken. Otherwise kraken is cheaper in every instance. (you could get a good discount if you trade volume on kraken as well)
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Not sure what they can do physically 
but here is a hosting account at godaddy that eventually swallows them
And here is the website http://seizedservers.com/
Now if you think about it, then why is wikileaks still active 
and what about other forex brokers who are still alive.
As it seems there are a few jurisdictions that protect right to free speech. Iceland is one of them. However weather or not they also protect forex brokers is another question.
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so if they use US based web-services like hosting and domains, they can get them. Why not just use offshore services then? Or maybe the CFTC thinks they own the internet too?
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I’m very interested in Kraken now that they got a charter to become an actual bank, whenever that happens. Will definitely put in the research for them.
Apparently they seem to think so.
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You guys should really read the 83 page guidance put out by the Department of Justice yesterday. Barr is really trying to expand jurisdiction globally. The US is basically saying they have unfettered global jurisdiction on cryptocurrency. Unless other countries sue them or fight back, I see it largely unchallenged. Whereas before you got civil penalties with the CFTC, now OFAC and DoJ and Treasury are using alleged precrime and Banking Secrecy Act to accuse offshore brokers of facilitating terrorism financing and money laundering. It’s all bulshit of course, and it is a non binding guidance, but it makes Trump and Barr and Mnuchins anti bitcoin stance very obvious.
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BAD NEWS — WE HAVE LOST FX CHOICE, AS WELL.
I have been sitting on this information for several hours, since receiving this PM from FX Choice
PLEASE NOTE
Existing FX Choice accounts are not affected by this change in policy toward U.S residents.
As of now, the FX Choice website does not yet reflect this new policy.
For what it’s worth, an associate of mine opened a new live account with FX Choice twenty minutes ago, without any problem. — If you are not an FX Choice client, but wish to open an account with FX Choice – act quickly, before the window of opportunity closes.
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This is why I’m focusing on exchanges that have a history of always doing AML and KYC, so that that excuse cannot be used against them. I KYCED myself on coinexx because of this. Do you know if coinexx mandates KYC for all withdrawls? As much as it pains me to say, it is perhaps best. Because these laws coming out of the united states are not good. You don’t want to emulate Bitmex in any way.
Clint you’re absolutely positive? I just verified at FXChoise this morning, got a call from them. Wow
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damn, no offshore broker is safe, there will be no more offshore brokers accepting U.S. traders by the end of 2021, every broker on cftc red list will be a target
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FXChoice does KYC if I remember. I have my account open with them, but empty. Wonder if they will try to block adding money to an already existing account?
existing accounts are not affected, you are free to deposit and withdraw as of now
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Personally, I wouldn’t take chance by putting my money with them at this stage.
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just chatted with FXChoice:
FXChoice :Hello . Welcome to FXChoice. How can I help?
Me: Hello. I’m a US Client and just want to make sure I can continue to trade with FXChoice
FXChoice: I am happy to help you with that.
FXChoice :Yes. we accept US clients.
ME :Do you accept new registrations? I’m a member of a forum that helps US citizens trade, just need to verify this
ME :and I can continue to open new live accounts as well?
FXChoice :Yes, You can continue to trade with out a problem., and open new accounts
ME :Ok great. thanks for the help
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