Going offshore to escape the CFTC

Sweet! They are a MT5 broker!

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The option for another thread for prop firms came up a couple of months ago, but itā€™s my understanding the majority of the community here (correct me if Iā€™m wrong guys/gals) think prop firms still apply, as they help us ā€œescape the CFTC.ā€ I have seen enough evidence that FTMO is the real deal from traders here and elsewhere to at least give them a try. However itā€™s up to each of us to decide if prop firms would help us achieve our long-term goals or not. I know there are some folks here that donā€™t believe they would, and thatā€™s cool :slight_smile:

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You guys have voted ā€” without even being asked to vote!

Kudos to you. ā€” Thatā€™s how this thread is supposed to work!

At this time, the consensus is clearly to remove FX Choice from Group 1.

In case anyone else wants to weigh in on this issue, I will wait until mid-week before taking any action.

If the consensus doesnā€™t change by Wednesday, I will remove FX Choice from our List.

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If you havenā€™t visited the Group 1 List recently, you might not know that most of the 13 brokers listed there have been reviewed, and their listings have been updated, as needed.

FX Brew is next on my list to review and update, later this week.

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How are the live spreads with them? What kind of account did you open? RAW or Pro?

Raw Spread Account, look like pro and raw offer the same spreads

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If you scroll through this thread youā€™ll see a couple withdrawal proofs and Iā€™m sure there are plenty on YouTube, Google etc.

And the Demo account is great from what I can tell because that means US clients donā€™t have a live account with those brokers, so the CFTC can bugger off.

But I would welcome with open arms any proof that FTMO isnā€™t what they say they are, would save lots of people some effort getting involved if they arenā€™t real.

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Both their accounts seem to have the same spreads, no difference on any pair seen yet

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I wouldnā€™t argue with your 20% US clients composition for offshore brokers
There isnā€™t any data to look at for this
But I definitely agree that offshore brokers even if compelled to shut doors to US clients by CFTC will not default on paying US clients, simply because their business would not close completely even if US clients are not an option for them any longer
And Yes social media platforms are quite successful in spreading the word about any brand whether good or bad

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Yes this is definitely better news on the offshore broker front.
Iā€™m quite impressed with the spreads and execution they offer at TurnkeyForex on the MT4.

I would definitely try the Act Trader platform if they offer it
I personally prefer Act Trader over MT4

I agree, its a great way to save your ass from CFTC. My questions are still unanswered though, Why all the brokers listed on their website say we dont have any relation with FTMO. And why only their exclusive MT4?

Anyway prop trading is not my cup of tea. Iā€™d rather trade directly with my own money even if its small, instead of paying off fees again and again in a bid to win a competition I cant totally trust. But each to its own!

Have you tried a live chat with FTMO to see if they will answer your questions? Iā€™m not a member yet, so I canā€™t give any answers. But seems like maybe FTMO is the prop firm, and the accounts with the brokers are simply held under other names or entities? And since MT4 is arguably the most well-known and most-used trading platform in the world, thatā€™s probably why they prefer it.

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I am new to Coinexx but I am bit afraid as I have heard that they take too long for withdrawals?

they have gotten better at withdrawals, you should try to make one and see how it goes

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Coinexx has gotten better at withdrawals for me. Less than 8 hours last 2 times but their spreads are not as good as hankotrade.

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what is hankoā€™s leverage on btc

Iā€™m interested in any of you guys experience with lqdfx spreads. But their spreads to me seem pretty bad, especially on commodities. And with LMFX, how do you fund the account if it isnā€™t btc?

Spreads on lqdfx are tough, but it might be ok for lower frequency stuff on gold.

On a side not Iā€™m not sure how viable this thread will continue to be, Iā€™m starting to feel like the DC CFTC office has this thread bookmarked literally, I mean itā€™s comically dismal. Weā€™re doing their work for them.

I agree with you that Coinexx spreads have been high for quite a while now.
Their high spreads made me move more of my funds out from them to TurnkeyForex.
Although i still have a funded account with them for comparisons

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The List has been updated.

FX Choice has been removed from Group 1.

We now have 12 listed brokers (down from 14) in Group 1, with 4 of them (down from 6) designated as Trusted Brokers.

The FXBrew listing has been updated.

The old red flags ā€” ā€” have been removed from posts #1 through #4.



We are coming up on the 10,000th post in this thread. Whoever posts #10,000 will win a super prize ā€”
a free year of access to The Offshore Broker Thread !!!

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What a journey :slight_smile:

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