Going offshore to escape the CFTC

Well me and traders in our group have received such emails couple days back. So yes they are actually giving some good cash backs. They are basically reimbursing some of the commission paid on trades by us. So I guess they are trying to cash on volume. A great deal as it looks like, as I have already withdrawn my cashback, since I wanted to test.

1 Like

Is there a reason that ■■■■■■■ is censored on the list? Is it still a “Trusted Broker”?

That’s ■■■■■■■. Apparently someone isn’t happy with them? LOL. It’s happened before where someone has edited that list, it’s not locked I don’t think. Clint will handle it. “Do you feel lucky, punk?”

Huh. So apparently I can’t type C O I N E X X without it being redacted?

Hi guys,

This snafu with ■■■■■■■ might be vandalism, in which case the punk is going to be very unlucky. Something similar happened once before as greenflash808 mentioned. In that instance, the perpetrator left his calling-card in the edit record, and it didn’t take a Sherlock Holmes to smoke him out.

However, there is no trace of an “edit” to our List in the blackout of ■■■■■■■. The edit record shows only edits that I have made. The edit made at 3:10 am today was me, and did not involve the ■■■■■■■ listing.

Possibly this whole thread has been hacked. The problem appears throughout this thread, including in this post.

Or maybe it’s some sort of system glitch.

I will refer it to the Babypips administrator, and let him sort it out.

TurnkeyFx withdrawal 7hr 35 min :+1:

1 Like

Has anyone successfully traded with and withdrawn from Cedar FX? I need to deposit some cash with them and test them out. The old hippie in me really likes their whole tree-planting spiel.

About same time for Hanko also…if started at 6am GMT time it’s about 7 hours.

1 Like

The redacted Coinèxx name in our List

I have patched the Coinèxx listing on post #1.

It’s a temporary patch – sort of coat-hanger-wire and duct-tape – pending a permanent resolution of the problem.

For now, it’s possible to read the Coinèxx listing, but the links (to their website, T&C, and contact info) will not work until we have a permanent fix to the problem of the redacted broker name.

Earlier today, I sent a message to moderator Pipzilla, requesting Babypip’s help in fixing this hack/glitch (or whatever it was).

If you want to discuss Coinèxx here (or anywhere on the Babypips Forum), alter the name slightly by dropping one x, or placing an accent mark over the e, as I have done above and on post #1. Otherwise, the website will continue to render the name as ■■■■■■■.

2 Likes

Here we go with the BS

Sen. Warren warns of cryptocurrency risks, presses SEC on oversight authority

The former presidential candidate said she needed answers from Gensler by July 28 on the SEC’s authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed.

In the name of to protect consumers investing and trading in cryptocurrencies :rofl: :rofl: :rofl:

3 Likes

Cryptocurrency combined with fair, low taxes could largely eliminate the shadow economy, increase efficiency, and promote growth.
Or, they can create more heavy handed regs that will force people towards stealth coins, provide cover for the real bad hombres, and grow the shadow economy.
Thanks for the link. Very interested (concerned) to see how this goes…

1 Like

Adding a site-wide filter typically requires special privileges, so this had to have been done deliberately by a site moderator or administrator (unless the babypips website has been compromised).

I suspect that a site admin added it after many people were asking about C0inexx, likely due to the fact that they are an unregulated broker. It seems that many traders frown on the idea of trading with an unregulated broker and assume that it is dangerous to do so. Just my guess.

you guys notice these laws always start with fraud in mind but end up putting a hinderance on the small guy

1 Like

If the site admin launched this attack on Coinèxx because that broker is “unregulated”, then they (the site admin) might as well shut this whole thread down. Then, we could all just concentrate on our own personal interests, and stop wasting our time here, trying to share what we have learned about offshore with the rest of the retail forex community.

Nobody on this thread needs to devote his/her time and energy to battling the Babypips admin, along with battling the CFTC and the rest of the Nanny State.

Most of the people who participate on this thread contribute much more to the Babypips community at large, than they receive in benefit to themselves. In other words, they don’t need this thread, or this Forum.

Rather, this thread and this Forum need intelligent, experienced traders – like most of the participants here – who have something of value to contribute to the rest of the community. Babypips has gained worldwide attention as the premiere website for novice forex traders, due in measurable part to this thread.

And how is that measured? By click-count – the stuff of advertising revenue. The click-count (eyeballs on the site) attributable to this thread exceeds that of any other thread in Babypip’s history. As of today, this thread has attracted over 1,743,000 clicks (Babypips calls them “views”) over its almost-11-year run.

I think the Babypips admin place great value on the popularity of this thread – on our ability to attract the attention of serious forex newbies and veteran traders, alike. I doubt that they would ever consider driving away the brokers who are the reason this thread exists.

3 Likes

Remember how it all started with Dodd Frank? All for the cause for “consumer protection”.

The results will be harder for the average joe to participate. Barriers to entry will get higher and higher.

2 Likes

Stealth coins have already been dropped on US crypto exchanges. Regulators ultimate goal is to trace every transaction especially on ramps and off ramps to fiat.

3 Likes

Yes, this whole baby sitting/Nanny State mentality is what we are trying to rebel here in this most profitable/attractive thread of Babypips. And Babypips admin seems to have started working with that same mentality now. Not acceptable!

Update on PaxForex

July 09, 2021

Washington, D.C. — The Commodity Futures Trading Commission today announced that Judge David Hittner of the U.S. District Court for the Southern District of Texas entered a default judgment against Laino Group Limited d/b/a PaxForex (PaxForex) of St. Vincent and the Grenadines. The order imposes permanent trading, solicitation, and registration bans against PaxForex entering into transactions involving commodity interests and prohibits it from violating provisions of the Commodity Exchange Act (CEA), as charged. The order also requires the defendant to pay a civil monetary penalty of $374,864.

The order, entered on June 30, 2021, stems from a CFTC complaint filed on September 24, 2020, that charged PaxForex with engaging in illegal, off-exchange transactions in Ether, Litecoin and Bitcoin, in addition to precious metals and foreign currency, with retail customers on a leveraged, margined, or financed basis and acting as a futures commission merchant (FCM) without CFTC registration as required. [See CFTC Press Release No. 8256-20]

https://www.cftc.gov/PressRoom/PressReleases/8408-21?utm_source=govdelivery

2 Likes

So nobody showed up for PaxForex?

heh

2 Likes

I agree with you on all counts. But what other explanation is there? If someone with privileges made the decision to censor it, then maybe they did so without knowing any better.

I take it that you have not heard anything back yet? Depending on what software is being used for babypips, there should be a timestamp for everything, and they should be able to see when the filter was added and even who added it.