Going offshore to escape the CFTC

Then you should tell us which broker you like. The main purpose of this thread, is to share what we know about the brokers on the list, and occasionally, to find a new one.

3 Likes

MrInvisible, I see why you trade only the American session. Last night during the European session, the USD/CHF dropped 114 points in about 2 seconds or less, during a shallow rally, 13 and one half hours after the US interest rate was released, making stop losses totally useless. I just vowed to never again trade the European session until 24 hours after a major change in the US interest rate, or until a sudden 100+ point spike, whichever occurs first.

Same here mate. Australian regulations suck! Donā€™t need big brother telling me what is ā€˜safeā€™ for me to spend my money on thank you.

its second time turnkey quotes stopped , for 10 mins . last one was for 50 mins!

just wondering if anyone observed such thing in other brokers too?

Coinexx freeze more frequently. Not only their quotes stop, you canā€™t trade too.
But last time I check, when turnkey platform stop working, mobile platform still works. So when you find your platform stop working, use mobile platform to exit positions.

2 Likes

Are these recent events? Approximately how long has it been going on?

yesterday i checked the mobile platform but it was frozen too.
11:10 server time if you check it jumps to 11:20 .

I switched to turnkeyforex one year ago, so I donā€™t know how is coinexx now.
At that time turnkeyforex doesnā€™t freeze. And it was good for a couple of months after I joined it, but then it began to freeze. However it is still better than coinexx.

1 Like

Do you use MT4 or MT5?

i use their mt4.

I use MT5. Does that make a difference?

yes probably technically something is different.

1 Like

Are there any options to purchase and IMMEDIATELY send crypto other than coinbase? Last week I withdrew some funds from LQDFX and when attempting to send to coinexx, coinbase flagged it as a blacklisted address.I was able to immediately have the money sent back to my bank account, but I now have to wait 60 days before I can make any purchase on coinbase. Been with them for like 7 years and they say absolutely nothing they can do to change it.
Coinexx confirms they are not blacklisted from coinbase and they receive deposits all the time.
Very frustrating as I have checked ftx, binance and need to wait 7-10 days after funding to send crypto. This is despite ID verification, address verification and 2 factor authentication. With coinbase I can deposit and send IMMEDIATELY.
Any other options anyone is aware of on a NEW account allowing deposit and IMMEDIATE send?

Coinbase is basically going downhill. They are getting rid of pro later this year and migrating everyone to the main site with itā€™s higher fees. They are also the largest exchange in the US, so that makes them the biggest target by IRS/SEC to force crypto transparency.

Domestically, check out Kraken, I canā€™t access them since Iā€™m in NY with the whole bitlicense regulation nonsense here, also check out bitstamp. Both support stable coins.

Offshore, check out Kucoin.

I personally use coinomi & atomicwallet, as intermediary private wallet exchangers between coinbase & offshore brokers. Both are highly rated.

1 Like

i believed cash app allows the purchase and sending immediately, with no waiting period, given the account is kyc verified. Their fees might be high compared with coinbase pro, or within the same range as coinbase. I canā€™t recall the exact fees, but might be worth a look in case of urgency. as for paypal I have never tested them so no comment

Edit: cash app trades bitcoin only , no other alternate cryptos

1 Like

Your own wallet is always going to give you the most control.

1 Like

Gemini, paypal.

I think heā€™s only interested in options that support stable coins

Yes, this is actually absurd. Been using coinbase many years. Numerous transactions to and from Coinexx. Coinexx has verified it was not a blacklisted address. Coinbase has blocked all of my linked accounts and my ability to add another account. Never a chargeback, declined payment, no issues ever. All over a ā€œblacklistedā€ crypto address that isnā€™t actually blacklisted.

1 Like

Coinexx should not be blackedlisted because every time you send a deposit, their system generates a new address.
However, you can use a middleman wallet like blockchain.com, you transfer funds to middleman, and from middleman you transfer funds to your broker.
This is how online poker pros send funds to pokerooms, because many pokerooms are blacklisted.

1 Like