Going offshore to escape the CFTC

I don’t know what I was seeing. I’ve been watching indices on there for the past month or so and have never seen it freeze like that. Thought I was back on FXChoice for a second…

I have had the exact opposite experience when it comes to customer support with Fair Forex. They have a telegram chat room and are always available to answer any questions people have. I check out the room at least once a day and I am always impressed. By the way I asked them recently if they will be adding MT4 as an option and they said it will be added the first week of April.

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Thanks for pointing that out. I will have to check it out. So far, nothing but back-and-forth-waste-of-time with reps that cannot be bothered to read.

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A telegram chat room is a nice touch. I am on telegram a lot.

Having been hearing a lot about them these days. Have to check their conditions, other than that turnkey forex is my preference.

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Turnkeyfx All in :+1:

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As I read the sentiment on this thread,

• ProsperityFX (SVG) should be added to our List

• CedarFX (SVG) is a probable addition, but we’re waiting for more info, before deciding

• FairForex (SVG) is a maybe, for sometime later


I will add ProsperityFX to the List this week.

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Cryptorocket, Hugosway, Eaglefx & ProsperityFX are all using the same back-end technology correct?

I’m patiently waiting for whomever they are all white labeling to support some stable coins or XRP.

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CFTC Probes Binance Over Accepting US Derivatives Traders (financemagnates.com)

With a crypto question now on the front page of the 1040… I fully expect IRS to go to defcon 3 against the exchanges if they don’t get “Their Cut” from ETH/BTC appreciating >600% in the past 12 months.

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yes, also there are many more brokers who uses the same white labeling / Prime broker services. these brokers pay withdrawals that’s why i stick with them

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The IRS was already courting suitors for tracking solutions for blockchain technology back in 2017 when the valuation surged and the government was forced to start taking more notice. The IRS has only seemed slow because of the crawling legislative process and uncertainty surrounding how to deal with it. Similar to drones, the technology quickly outpaced legislative efforts to appropriately address privacy and security concerns. If anything, I suspect that the IRS won’t have to do much in the way of exchanges because the laws are already being written in their favor. They will be able to audit to their heart’s desire. The tricky part is proving, or disproving, wallet ownership… and that’s what governments are trying to do now.

I have said it before, but absolutely anything can be taxed in this country if there is enough interest or demand for it. We could literally use jars of lard as a type of barter system or currency, and if enough people started using it, the government would figure out a way to tax the transaction. Even if the lard came from a foreign entity, or it was something that you invented yourself, it wouldn’t matter. In the case of cryptocurrency, it is even worse, because we are dealing with something that is purely digital, where governments have no involvement in the creation or transaction of it. It just seems insane to me.

Evidently, trade, on a large scale, is not a right but a privilege, and one that we have to pay for.

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CedarFX might be the same as the spreads are the same as EagleFX

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Which broker?

Ive been using CedarFX as a kind of second broker to my main trading broker. So Far I have no complaints, I have mostly been trading crypto to try and take advantage of this bull market. Its served me well and lets just say Bitcoin has been kind to me :slight_smile:

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Sorry I originally misclicked and replied to the wrong person!

I’d say CedarFX are worth a look. I’ve been using them as I was intrigued by the 0% commission option and what spreads might be like as you might expect they would be crap but they are ok considering. Withdrawals have been snappy like the other offshore brokers previously mentioned in this thread too which I was pleased to see. So far so good but relatively early days.

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Got there in the end! Dunno what is wrong with me :joy:

did Cryptorocket officially stop accepting new US clients? I basically left them a while ago, didn’t know if it was official like FXChoice yet. Saw they are off List 1 so I guess that’s a yes.

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And again I have to add that if a broker takes longer than an hour for any type of financial transaction, deposit or withdrawal, it’s the new not-normal. Just used bank>CashApp>broker and the total time was about 10 minutes. That needs to be the new normal.

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CryptoRocket closed the door to new US clients in July 2020.

See here – Going offshore to escape the CFTC

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Was there a reason for this?