Going offshore to escape the CFTC

Broker Discussion Forex Brokers
12691

CedarFX are ok, so are LonghornFX.

1 Like
12692

:+1:
I have an account with all 3, cedarfx is now my main broker along with prosperityfx

2 Likes
12693

EagleFX too. :+1:

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12694

My main broker prosperityfx too. :green_heart: it.

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12695

Brace yourself it’s gonna get worse

The U.K. Wants to Cap Bitcoin Holdings. Protections Are Developing for Crypto Investors

The U.K. financial regulator is pushing for changes that would encourage caps on individual BitcoinBTCUSD +1.26% holdings and limit how cryptocurrencies can be marketed as it clamps down more broadly on retail investment in risky assets.

The regulator said it wants to reduce the number of people investing in assets that are riskier than they realize, and wants individual investors to allocate no more than 10% of their net assets to high-risk bets.

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12696

Pushing for regulatory changes that limit how cryptocurrencies can be marketed = a good thing

Pushing for regulatory changes that cap individual crypto holdings = a bad thing

Insulting. Idiotic.

Maybe we should limit how much people can spend of their own, hard-earned money, gambling at casinos or buying lottery tickets. That just sounds so ridiculous, but it really is not much different.

We’ve decided that no citizen can own more than two vehicles and two houses. Furthermore, we have decided that no citizen can invest more than 5% of their taxable income in the stock market, nor can they own commercial real estate without prior approval and licensing. Oh, and citizens may only take one vacation outside of the US per year.

How ridiculous it must become before enough people say something? Maybe, it will be too late by then.

EDIT: let’s be serious for a moment. If this was something that people could opt-in to, say, for those that want the ‘protection’… how many people would actually sign up? But at least people would have a choice.

2 Likes
12697

You nailed it, people spend their entire checks on the lottery. It doesn`t have to be mega millions. Also people have lost all their money while playing in a casino where some ended up in the poor house because of gambling at the casinos addiction, No laws was made about how much money they can spend or play in a casino.and there shouldn’t be a law like that with crypto currencies

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12698

Warning - Finprotrading

With Finpro’s dissolution, customers’ money has also disappeared

http://finprotrading.com

2 Likes
12699

Wait, whats going on with them???

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12700

Based on the look of things, they went out of business and took all of the clients’ money with them

http://finprotrading.com/

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12701

How is Cedarfx with completing withdrawals and deposits? And how is prosperityfx

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12702

The best to do it, withdrawals are under an hour including weekends, large withdrawals of 50k ore more have taken up to 12hrs

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12703

Shame on finpro :face_with_symbols_over_mouth: :+1:

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12704
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12705

I do not know much about the broker side of things. But I cannot help but wonder if the money that they were making was not enough?!? I mean, are these brokers really struggling out here? Maybe someone can educate me.

12706

Is this the same Finpro that some of us traded with 4 or 5 years ago and then they migrated all of us to Coinexx? Is there any connection now with Coinexx? Same name, different company?

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12707

Yes you are correct, During their time in the U.K, the owners of turnkey forex, finpro trading, and coinexx all were the same, I have mentioned that here. When they were in the U.K, they were all on the U.K company register at the same time, I have pointed that out before.

As far as I know, the family split off and created coinexx and removed their name from the registers of the other companies, but the other companies remain in the family.

Remember, Before migrating offshore, all 3 companies were registered in the U.K. and had U.K addresses

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12708

Thanks @SmallPaul I didn’t know all of these details. I was remembering that it was a merger/buyout and that’s why I have Turnkey and Coinexx now. Do you think anyone with a balance at Turnkey or Coinexx should be concerned? I searched for some news about it but found nothing.

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12709

It took 7 days for me tro get my withdrawal from coinexx

I was always careful of all 3 brokers, knowing what I told you about the link between companies and the information above

1 Like
12710

One of The brokers on my personal list who I trust the most did not respond to this client, but responded to others after this post was published.

LQDFX

1 Like