Trying to figure this out.
Figure What Out?
Stomach turning is what it is.
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So touch any US user and youâre under our jurisdiction, even if they use a VPN or some other method to hide where theyâre from?
The effect will be same as what happen FX brokers. Complete ban on US residents.
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Concerning the question about whether this thread should be closed, the answer is: a dozen times over, HELL NO!!! This is a fabulous thread, one of the best on the internet. Iâve been reading it for over 10 years now, and it has helped me tremendously. I trade spot forex and crypto and have not yet felt the need to migrate to futures.
Also, does anyone know of a broker, recommended here, other than FxChoice, that requires less than $15 for margin to open a .01 volume bitcoin trade that has a reasonable bitcoin bid/ask spread?
Just tried to open an account with CedarFX, and they would not allow it since I am an American. What a shame since their bitcoin margin is only about $7.50. Chat also confirmed that Americans are now black listed from CedarFX, thanks again to the trader impoverishing efforts of âregulators.â
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I have used CedarFX on and off for a while now with zero issuesâŚsad to hear they are no longer accepting new U.S clients. Hoping they will continue to allow previous clients to continue to trade similar to FX Choice and TradersWay has done all these years. This is the reason I always open up accounts with brokers that currently allow us to trade regardless if I currently want to use them or not to hopefully grandfather me in well into the future in case our options continue to worsen in the coming months âŚyears âŚ
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Curious why everyone doesnât seem to like Coinexx? Trustpilot has really strong reviews/score for them. I have a bot ( wrote myself MQL5 ) that I want to run ( canât use it with prop firms as it executes too many trades for their rules ). Anyway, I need to run on MT5. Wondering what is now considered our best MT5 broker with the lowest spreads? Thanks!
Thanks for the update, compounder.
Here is the fine-print from the CedarFX website:
CedarFX and its affiliates do not cater to the U.S. market. Neither the CedarFX promotional material nor its advertisements are aimed at U.S. residents. Operations in the United States and restricted countries are not conducted by CedarFX.
I highlighted that last sentence. I think (but, Iâm not sure) that the highlighted sentence is new. Anyone know?
Also, has anyone else here tried to open a new Cedar account, and subsequently been turned away?
Unless dramatic new info to the contrary comes to our attention, I will remove CedarFX from our List next week. In the meantime, any further research into Cedar would be helpful.
-Itâs new. Here is a timestamp from October 31 2023:
*This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.**Risk Warning: Trading leveraged products such as Forex and Cryptos may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Read More Here
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I just Tried and this is the message I got,
Cannot sign up user from this country.
It sucked because I have a large account with them and my motto is if you no longer accept US traders I must move on, Iâm getting tired of this.
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My funds will be moved over to Longhornfx, they do charge commissions, which I really dislike. I prefer Cedarfx, with their no commission account. they both offer the same service.
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SmallPaul, according to a chat a few minutes ago, Longhornfx no longer accepts US residents, either.
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Itâll have to be Hankotrade And Coinexx
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Hugos way lost their Metatrader license. Now using tick trader
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-I cannot find any information confirming loss of license. I see that they dropped MT4, which seems very questionable; same with KOT4X.
It is sad that Americans would ever have to even think about renunciation as a possible solution to make a decent living with trading. Maybe our government will start listening to our concerns if we threaten to renounce en masse, taking all of our tax dollars overseas.
I suspect that our government would just make it more difficult (or impossible) to renounce if it ever got to that point, however. That is the sad reality of it.
Citizenship-by-investment programs are disappearing and/or becoming more difficult to obtain, especially as various, 3rd-party governments continue to apply pressure to end such programs, using the age-old excuse of national security as their reasoning for concern.
The joke continuesâŚ
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It doesnât seem theyâre losing their license, theyâre dropping MT4 for whatever reason, same with swaymarkets and other brokers, I donât know why the sudden change.
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donât flame me to death (for once) for trying to make a suggestion, guys, but the Metatrader Corporation has announced that MT4 is being phased out, and specifically that no more updates or maintenance etc. will be available for it - and excuse me if you all already knew this - just trying to help! 
-If you read the posts here within the last two weeks, you will have your answer.
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