Doesn’t matter what we think… more regulation is guaranteed to happen to protect the USD’s reserve currency status and the Fed’s ability to print money to infinity. An alternative digital currency that significantly appreciates vs the USD and becomes more popular every year is viewed as a fundamental threat to US interests.
FINCEN & IRS also want transparency on transfers and crypto to crypto exchanges which are “taxable events” that no one pays taxes on.
Hello everyone, please forgive if this question is outdated, but does anyone still use Tradersway? How do you now fund or withdraw?
I believe they stopped accepting US clients.
True, but existing accounts like mine were allowed to continue. However, Visa is no longer accepted while their customer support pushes Bitcoin, which I do not own.
I think this is fundametally a chronic failing of the school system in not teaching financial literacy. Understanding money is understanding risk. A better understanding of both money and therefore risk would see less people throwing their life savings into shitcoins of memecoins and expecting 1000x returns. The blanket regulation of stopping people using their money how they want is just easier than teaching them how to use their money effectively.
I agree. But I also think that the people that get scammed would still cry foul and demand that action be taken on their behalf.
Most people are dumb. No matter what. That will never change. It will only get worse.
I honestly think that the solution is to regulate within reason, within your own jurisdiction. If people choose to invest outside of their own country, then that responsibility must rest on their own shoulders. It should be up to the foreign governments to intervene and take action if illegal activity is being conducted on their soil.
An example, I have branded products that are protected by US trademark law. I also have trademark protection in China. I had to file and pay for that additional protection separately, through Chinese firms. Had I not done that, I would have little recourse to defend my trademark if someone in China decided to make counterfeit goods sporting my brand on them. It is the same for copyright and patent laws. Some countries have agreements in place that recognize certain intellectual property protections, but not all, and not in all cases. Investing should be no different; it is my money, so it should be my responsibility to protect it, even if that means researching my rights and obligations abroad.
Unfortunately, I do not see this ever happening. Countries like the US like to have their hand in everything, with reciprocity agreements and treaties in place that allow them to over-reach and influence foreign entities when it benefits them to do so. And since the financial sector is treated so differently, unless there is real pressure for change, then we will likely be stuck with this nonsense in perpetuity.
Your best option with Trader’s way is crypto, recommended in this order…
USDC/USDT > XRP > LTC > ETH/BTC
Exactly all it needs is a warning based on IP that says you can use this site/app etc but know that doing so means you won’t be protected by (instert regulatory body) and therefore your funds may be entirely at risk. Do you wish to proceed?
Job done. Forcing people who know better to just skirt around the rules forces it underground.
With “many other opportunities” i mean brokers. Even i have a full access to the exchanges i dont like them and using brokers. Smooth experience, good conditions and alls fine.
Going to need a translation on that. I have no idea what it is you just said.
Hello everyone,
I just wanted to share my current experience I am having with FxChoice, it isn’t pleasent to say the least.
I am attempting to withdraw money from my account and not being given, in my opinion, any reasonable option. It feels as though my money is being withheld from me.
When attempting to withdraw the only option which appears is a bank transfer, but that would require me getting hit with huge fees due to having to withdraw in a different currency since USD. But aside that, it is actually impossible due to intermediary banks that will not work with FxChoice.
I’ve requested to withdraw thru Crypto and FxChoice is refusing to enable it for me, even though I’ve done so once in the past, saying it is a “security” issue. They are currently attempting to force me to withdraw thru some program called “AirTM” which I have never heard of nor trust. I think it is well within reason to either be able to request to withdraw money the same way I did so (wire, which currently seems impossible) or to use BTC.
I’ve used FxChoice for quite some time and know others do to. At this moment I feel as though my money is being stolen from me since I can’t access it. Currently waiting forever for responses from their “finance team” that only ever replies to emails once a day and I can’t seem to get into a direct chat with.
Would they be willing to transfer through an intermediary service, such as Wise, Paypal, Paysend, et al.?
There are many money transfer services that will allow you to send/receive money through them. I believe that some of them work with multiple currencies, allowing you to manage your fee exposure a bit better.
Either way, there should be no issue with transferring funds via cryptocurrency, especially if you have already done so in the past, unless they have just completely dropped it. They could even get you on the phone and have you resend KYC documents to confirm your identity if that was really needed, so I see little reason not to allow for this.
Do not know much about AirTM. Looks like a service provider out of Mexico City; established a few years ago.
Have they stopped providing crypto payments altogether, or only in certain cases? That is where my first focus would be.
As of right now I am uncertain what other options or what their willing to do since they are only replying to me once per day.
As you’ve stated, there isnt really any issue why I shouldn’t be able to withdraw BTC especially since I have before. All they have said was due to “security” which is vague and absolute nonsense.
BTC withdraws are still possible because I had a friend that just put a BTC withdraw thru to test it.
At the moment, for whatever reason, it seems my account is in some odd predicament in which FxChoice so far isn’t being very reasonable about. They want me to withdraw either the way I deposited, which is literally impossible due to their own stipulations and outside forces pressuring them, or use some random unknown service.
I’ll update when I get more information.
This is exactly why I stopped trading with them as well as TradersWay when they stopped accepting NEW USA clients. Although those of us with existing accounts could continue to trade, the writing is on the wall at that point. They are getting regulatory pressure from somewhere. It’s a shame too, TradersWay was the best broker I ever used, traded with them for 5 years with not one single issue.
With that being said, still should be no issue with crypto withdrawal
so if you was to go with their withdrawal options they will send you your money? if so why not get all your money out minus fees and run as far as you can from them unless it’s a small amount and you wanna avoid as much fees as possible is that the case?
Shame on you FXCHOICE GIVE THAT TRADER HIS MONEY
I was actually unaware that FxChoice or Tradersway stopped accepting new US clients. These 2 brokers have always been the best and most trustworthy in my opinion, until just recently with this current issue with FxChoice. I have been trading with them for a few years and others I know even many more years, same with TradersWay.
The frustrating part is that the only option so far they are giving me is one option, the “AirTM” method, whatever that actually entails. And I personally do not like it nor want to trust all my money to something that seems so unknown. It’s a shame that such a broker I considered to be one of the best is doing this.
Brokers seem to strongly resist allowing withdrawals by a different method than deposit.
Has there been any issues whatsoever between you and FXChoice recently account security or trading style wise? They just stopped paying you out of nowhere with no existing issues concerning your account correct?