Traders who had problems with Hanko Trade may not respond. What should you do in this situation?
Would anyone like to offer suggestions
-I recall a single payout issue, but cannot remember if there was anything more involving Hanko beyond that.
I think that the payout issue was probably a mishap and not an actual theft. But that is just my opinion, based on the little bit of information that we have about it. Hopefully, we can get an update about it; I have no idea whether or not it has been resolved yet.
If there are multiple reports involving serious issues with Hanko, then probably the best course of action would be to leave the warning up on the listing.
If there is only the one, isolated case, then maybe the best recourse would be to leave the warning up, temporarily, for a few months, and if nothing new pops up, consider removing it then?
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I agree.
Today I made 2 trades in GBPUSD.
I could not record in video the opening but there was nothing unusual. I recorded the closing (mid NY session).
One trade 0.9 lot and another 0.65 lot.
Spreads at 0.5 and 0.6, which is the usual for this pair.
0.1 slippage in the first and 0.2 in the second
This is what I was used before for this kind of volume.
So, from my side, the problem with Coinexx is solved for now. Iāll just leave further update if something wrong happens again.
Note: I was charged commissions so I contacted support. They told me that commissions that were charged will be adjusted at the end of the month. So, being picky, itās not exactly free commission, itās more a 100% rebate. Letās see.
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Being objective, very satisfied because after I posted:
- They acknowledged the problem and called
- They processed the pending withdraw in 24h
- So far they sorted out the slippage issue
- They offered me 2 months commission free as a compensation
And, yes, they should have been more proactive when they received my first email because the problem was evident at that time.
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Iāll go with that.
For now, the warning stays up on HankoTrade.
If things change, our policy can change.
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(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)
Xtreamforex (The Marshall Islands)
I took a quick look. ā No red flags were immediately apparent.
On their website, I could not find any mention of U.S. clients (or any prohibited jurisdictions).
I think this broker deserves a closer examination.
@moon, Welcome to this thread
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-Had this broker on my list, but never took a closer look at them. I assumed that they were probably a much smaller broker. I think they were recommended as a US-friendly broker, but I cannot remember where I saw that. I would be interested to hear if anyone has had any experience with them.
Thanks for sharing.
Thanks for this information. Trust Pilot says they have been in business since 2016, another review site says 2014.
Noted this in their FAQ:
1.8 Can I have more than one account?
You can have up to 5 trading accounts, according to the companyās policy.
Not a deal-breaker, but worth knowing.
Their website says they accept deposits by wire transfer and also allow withdrawals this way. However, I doubt that will be the case for U.S. clients.
Lots of reviews on Trust Pilot and Forex Peace Army. Reviews on both sites are mixed. There are so many negative reviews to give me pause. Will be interested to hear if anyone on this forum has experience with them.
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If one has the ability to see whatās going on with these legitimate claims (from the brokersā side) you should realize that they all have one thing in common. These ātradersā are all exploitative traders. Meaning they take advantage of arbitrage like situations that the broker canāt rely on the market to hedge against them.
Thereās a segment of guys that run this type of business going from broker to broker and it doesnāt stay within the confines of spot forex either.
They take look to exploit feed latency and other nuances that they can repeatedly capitalize off of till they either get caught and/or outright booted.
Youāll see the brokers refer to them as unfair, disallowed or even illegal trading strategies.
Thereās an argument to if it is or isnāt fair as they are just taking advantages of actual deficiencies in the business rather than the market.
One thing is for sure these guys target off-shore for a reason and itās not because of āconditionsā you guys like to weigh in your own search for the next best broker. These guys have been kicked out or caught in the regulated circle. Very similar to black jack.
Itās easy to blame these off-shores and but you should also realize what goes on beyond your thousand dollar account with these off-shores. You are not the worry, they need you guys, but they arenāt worried about you in particular nor are they outright trying to get you. That usually happens without their intervention.
-More great wisdom being given. How can we be this worthyā¦
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Iām Moderately Dissatisfied - Remove Trusted Broker not yet at āvery dissatisfiedā cause my withdrawal was done. why:
- they have still ignored my emails (which had all the concrete proof), never got a reply or call yet I wasted 7 trading days giving them the benefit of doubt to respond (getting those blah blah emails and lies).
- They pick and choose which clients/accounts to help, though Iām glad at least one of us got helped.
- For my trust to be restored they have to address my account simple.
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Another post from the resident teacher about how we need to wisen up, I donāt know about you, but Iām feeling the wisdom.
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Joking aside, After the Metatrader fiasco with offshore brokers, I notice traders have lost confidence and some are still in a state of caution because most MT4 brokers no longer accept US traders.
Numerous social channels are discussing the end of offshore brokers. I think this might be what the regulators were trying to do, which is to reduce the confidence in offshore broker trading.
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Thats exactly what they want to do.
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-Iām feeling somethingā¦
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-If someone asked me whether regulators were hoping to reduce confidence in offshore brokerages, or if this was an attempt to bully and pressure offshore brokerages into their pay-to-play compliance net, I would initially want to say that ābothā seem likely, but I am honestly not sure anymore.
I think, if they cannot force compliance (and ātaxā these operators), then they will probably do everything within their power to seek and destroy without mercy. Maybe this is what we are seeing now.
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Here is another broker that accepts US residents. I havenāt explored them extensively yet.
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A quick look at CryptoAltum (The Marshall Islands)
appears to accept clients from anywhere in the world (see Note below)
company history/profile offered indirectly on review sites:
- company founded in 2020
- not regulated
- NDD execution mode
- etc.
contact info: see SmallPaulās post (which follows this one)
no KYC documents required to open an account, or to trade
crypto deposits/withdrawals only (BTC, ETH, USDC, USDT, BCH, LTC, TUSD)
client funds are held as cryptocurrency in cold storage wallets
USD and JPY account currencies only
trading in crypto. forex, gold and indices
up to 500:1 leverage
MT5 platform
Note regarding U.S. clients ā here is the statement by CryptoAltum:
āThis website is not directed at any jurisdiction and is not intended for any use
that would be contrary to local law or regulation.ā
.
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They have a whatsapp number - Chat on WhatsApp with +357 99 552393
They have a web chat, but always say their agents are busy and to leave your email address - All our agents are currently busy, please provide us with your email address and we will get back to you as soon as possible.
They have a chat via- Viber, Telegram and Messenger chat.
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