all brokers are trusted
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Because you know nothing about trading. Never did Paula.
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thank you.
JennySinger keep singing dude, Absolutely you donāt know nothing about trading or about regulated/unregulated brokers 
stay away from my lane dude, I donāt have a time for trollerās like uā:+1:
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I donāt think this particularly makes a difference. Nothing will come of any legal recourse since the lack of protection is there in black and white. If it helps people sleep at night fine but I think it is false security that they feel.
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these people think regulated brokers brings something to the table, they donāt and we donāt care for them.
tell me what they offer better than a offshore broker.
customeragreement_v3.0.19_20211025.pdf (411.7 KB)
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Like the covid āvaccineā. People think they canāt get covid and those folks now make up a very high % of cases.
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Congratulations troller! You have again sent this thread right into the twilight zone!
On a serious note, Nash markets looks interesting. Maybe we should very specifically define the parameters for brokers that have been around for a certain time and always paid withdrawals to real traders. I have seen some of you posting coherent and useful information here for a decade or more. If one of you says you have been trading at a broker without issue, it has weight with me. Good reviews on FPA also have weight. New brokers with testimonials are interesting, but I would still put better odds on getting withdrawals at Traderās Way or FXChoice (sadly both no longer accepting US clients), for example, than any new broker.
As always, never risk more than you can lose. Best to budget anything you deposit with any broker (regulated or not) as a loss, because you might never see that money again.
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unregulated bitcoin has allowed people to snub their noses at various law enforcement agencies, including the cftc, but those days are perhaps coming to an abrupt end.
there are changes taking place with bitcoin and other digital coins that are slowly turning bitcoin into a regulated form of currencyā¦ paypal is taking on bitcoinā¦ the lightning networkā¦ bit licensesā¦ etc, etcā¦
the day will come, perhaps not too far in the future, where people suddenly realize that they only have a limited amount of time window in which they can withdraw their funds from their unregulated broker aka unlicensed bitcoin merchants and so they will FLOOD their unregulated brokers with withdrawl requests and these unregulated brokers will simply close their doors and will not honor any of your withdrawl requests and you will lose whatever monies you had on deposit and you will have absolutely no recourse.
hey, why dont you call the attorney general and tell his office that you have been avoiding the cftc and low leverage by trading with a unlicensed broker that offices out of a hotel on an island AND SEE IF HE GIVES TO YOU ANY ASSISTANCE TO SEEK RECOURSE. somehow, i doubt it.
after these new legislations kick in and you attempt to trade thru an unlicensed merchant broker will result in massive fines and criminal penalties including prison time in some cases.
welcome to the new united nations of china.
The good news isā¦when and if this happens, because I DO NOT HAVE TO USE 10X THE MARGIN as I would with my CFTC āregulatedā broker, I will still have 90% of my trading bankroll sitting securely in my FDIC insured bank account. What are you not understanding? Due to the 1/10th margin requirement offshore, it is literally the BEST FORM OF RISK MITIGATION you could possibly ask for. How do you see it as the opposite?
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there are many people that have sizeable deposits that will evaporate when this happens. the brokers are going to make out like bandits most people were unaware that this situation is heading our way, and now that they are aware this news will spread like wildfire and they will lose sleep over it and the flood of withdrawls will begin ahead of time and unregulated brokers will begin to crash like pancakes.
.
Iām too busy making money right now to continue this. However, if they have 100% of their capital at an unregulated broker, they are missing the entire point of using one. You only need 10%, even lower on some pairs to execute THE SAME EXACT TRADE as with a CFTC broker, therefore, only 10% of your capital should be sitting with these brokers. My risk, targets, everything is based on my trading capital which sits in my bank. Only thing sitting at the broker is the margin requirements for existing trades + a little buffer, of course.
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i totally see your point that you enjoy only depositing less money, but either way the crash will begin nowā¦ once this issue becomes common knowledge, the flood of withdrawls will begin and the bankrupting of unregulated brokers will happen almost overnight.
it will be like the run on the banks during the great stock market crashā¦ once it starts, it will be over almost as soon as it began.
too risky for me, but i do appreciate your position.
i believe that my interest in escaping the cftc has fizzled and i will busy myself elsewhere.
have a very nice day.
i think that i understand your reasons for wanting to deposit less capital, while 90% of your capital remains safe in your bank.
but because the majority of the offshore brokers are not really placing your trades onto the open market, it wont require much of a flood of withdrawls to create a frenzy, which means that this could happen at any time.
i am going to pop some corn and enjoy this showā¦ it could take a few years, but it could happen tomorrow, nobody knows.
True. Like I said, if and when it happens, Iāve lost 10% of my capital at that point. I believe the BIG POINT you are missing is if a CFTC regulated brokers goes under, and there have been a few, I lose 100% of my capital (as opposed to 10%). I have to have all of my capital parked there for margin I am not even using and it is not protected at all under CFTC.
So being offshore, it broker goes under, Iām still in business the next day with 90% of my funds. CFTC broker goes under, Iām out of business. Get it?
Before I started using prop firms, I actually had the 10% spread out over 5 offshore brokers, so each broker actually only had 2% of my capital. I am sure there are many applying this type of risk mitigation
for me personally, it would not be so much the worry of losing my ā10%ā capital, but instead i would be worried about the new laws that are being drafted now that will include tax penalties and possible jail time, which could result in having oneās home and business and bank accounts seizedā¦
that is what would bother me.
jail aint no joke.
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I pay my taxes just as if earned in the US. There is no difference. I also file the FBAR. I donāt play with the IRS. It is not illegal, as a citizen to trade with these entities. You pay tax just as if you were with a US broker. If you didnāt pay tax on your earnings with a US broker, penalties would be exactly the same.
You are truly barking up the wrong tree, I have done all the homework. Been doing this for years.
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in your opinion, how long do you think before the flood of withdrawl requests will begin which will cause the brokers to implode?
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Not any time soon. If and when it does, there will be new ways of moving money. Smart money is always one step ahead of the game.
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she is obviously off her rocker. fk the cftc.
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