Another complaint against Coinexx just now. Add it to the user info hack, that one person that lost a fortune under questionable circumstances (although he should never have over traded like he did), and the Turnkey deal.
Cannot help but wonder how many people would vote for their elevated status now.
I suspect that if a broker becomes suspect, most experienced traders simply move on to other brokers.
Perhaps trusted status should have to be maintained by a new round of voting periodically.
Status could be lost simply by not having enough thread members using the broker. It would be hard to acheive and maintain status.
In fact, ātrustedā might not be the most accurate term. Something like no current thread user complaintsā¦
My logic is that nobody here wants to be convincing anyone to trust any broker. Its more like this is what is available, use at own risk.
I think, in the case of Coinexx, some traders may be looking at them again due to the recent dropping of meta by most brokers.
Certainly, with regard to the recent complaint, I do believe that it is important to clarify whether or not their desktop platform was accessible during that time, for that symbol etcā¦ Perhaps, we cannot know for sure, but it would seem like an important detail to consider, objectively speaking.
I also generally do not give too much weight to the efficacy of low-level support reps.
As much as I donāt trust Coinexx I wont drop them due to their mt4 availability. The options are slowly disappearingā¦ Iām still with Traderās Way (US banned), LQDFX (low indices leverage issues), Coinexx (trust issues) & EagleFX (US banned)ā¦ itās really looking bleak right now.
Even though I love this broker, their leverage on some instruments are low, such as exotic pairs, indices, and metals, compared to other offshore brokers.
Didnāt notice anything in the logs that said otherwise. I usually have my terminals open all day. Mt4 desktop is pretty bullet proof from the years Iāve used it.
Itās the mobile that certain off-shores seem to have drop for no reason.
Facepalmā¦I read the review and the situation was reminiscent of the fiasco with another larger trader when they were Turnkeyfx. This one was again hard to exactly tell what was the issue, but the same accusations of nefarious trading tactics on the customerās part and the broker didnāt want to pay out. Just like this one, that trader took to fx peace armyā¦which I find a really weird website. I donāt know how anyone is able to post there as Iāve never been able to the time I tried.
That withdrawal couldāve been a good chunk of the traderās yearā¦
Some of these off-shores I suspect have already been copying trades of better traders over the years.
Iāve experienced some really noticeable changes once I start trading completely on their dime.
Thereās plenty of ways these brokers can āhedgeā themselves and Iāve always suspected this to be one of them.
Whatās to stop them if a trader shows complete competency and pulling a profit every week. They just set a copier and jack up the position sizing. They donāt need to disclose anythingā¦
That FTMO I tried and passed both their steps in six days. What I found odd is after - they required a KYC including statements once I became a āFTMO traderā. It was a smaller account size that I chose just for shittās and giggles. They were asking me to take selfies and shittā¦Just too childish for me. To me itās just doesnāt make sense if a trader is profitable to begin with whey would he be cash poor that heād have to relegate using these online companiesā¦
Iām sure people love them, mostly for the wrong reasons. Seems like theyāre addicted to them when I visit forexfactory fx ghetto.
Anyone paying attention to the SEC NAC Listing Rule?
Interesting that they want natural resources to be managed this way.
Cannot help but wonder if $10 million is going to be enough to join the club that can own a farm in the brave new world they are building.
Edit: posting this here, since the SEC affects trading and this seems to be a really strange thing for the SEC to be involved in. topic of regulators doing things beyond original scope, which is why this thread exists
-This is something that I sometimes struggle with, when talking with people that seem to always advocate for and even defend the actions of various regulatory groups, regardless of what may be happening.
Many times, people seem to just blindly accept and believe that regulators are just doing their jobs and can do no wrong; that they are all good, right, just and necessary etc., without actually questioning anything at all.
Even bringing up ideas like regulatory overreach and scope, questionable agendas, conflicting interests, lacking oversight and accountability et al., immediately marks you as a regulator-hater or some conspiracy nut.
Thanks for thatā¦