Going offshore to escape the CFTC

[SmallPaul]

@MarkInTn

Are they still a trusted, “trusted”? Or is it time to move on? And if so, where?

Based on my personal experience with LQDFX, they are on my list of trusted brokers

[SmallPaul]

@SmallPaul

I have a live account with Athens Markets , but I have never funded it, Whether they accept U.S. traders at the moment is unknown to me

I was unaware that Athens Markets had blocked my account until I received this email today. Strange

[Athens Markets] Your account has been unblocked

Account Unblocked Notification

We are pleased to inform you that your account has been successfully unblocked.

If you have any questions or require further assistance, please do not hesitate to reach out to us.

Thank you for your patience and understanding.

Best regards, Athens Markets Team

[_METHOS]

@SmallPaul

Athens Markets

-I was never even able to get a response from their support, so I dropped them from my list of potentials.

[MarkInTn]

thank you for responding.

[caffelatte]

What’s the problem with Bulgaria? For a few years I traded with LMFX, which was registered in North Macedonia but had physical offices in Bulgaria. In fact, I have wondered whether some of the back-office people who worked for LMFX might work for LQDFX now. Anyway, LMFX generally did O.K. by me until they stopped working with U.S. clients.

[MarkInTn]

I owe all Bulgarians an apology as I mistakenly confused it with Belarus.

Bulgaria is part of the EU, Belarus is not.

[Xanaphlaxes]

Tiktok ban may also allow Executive Branch broad powers to ban websites.
No fan of Tiktok, but concerning that X and others may be next.
Watching for implications to Forex brokers as well
Interested in others’ views on topic

[Jinz]

@Xanaphlaxes

Tiktok ban may also allow Executive Branch broad powers to ban websites.
No fan of Tiktok, but concerning that X and others may be next.
Watching for implications to Forex brokers as well
Interested in others’ views on topic

Unlikely to happen, unless X is owned by Chinese, Russian, or other country that considered enemy. Tiktok won’t be banned if owned by company in EU

[SmallPaul]

@Xanaphlaxes

Tiktok ban may also allow Executive Branch broad powers to ban websites.

It’s a possibility, but this ban is really more about a security threat and will probably not extend to banning offshore brokers’ websites

[caffelatte]

The U.S. government has authority over .com domains. They used it a few years back to shut down the website of Iranian state TV, which was using a .com domain.

I don’t think it’s impossible that this could happen to this website, as it is also a .com.

Last December, when FX Choice notified us of their changes, and I needed to go through a 2FA procedure with them in the course of withdrawing my funds, they sent me a text message, which I did not receive. I had had them send it to my main cell phone number, which is with a U.S. carrier. They told me that some U.S. carriers block the SMS messages they send. Fortunately, I also have service with a carrier in a different country. I had them send the SMS message there, and I immediately received it.

If the U.S. government gets cell carriers to block SMS messages from brokers they disapprove of, it seems to me not inconceivable that they would block a website that discusses using such brokers.

[SmallPaul]

We might have to change the name of this thread literally if they don’t take it down, Going Offshore to escape the U.S. government

[_METHOS]

In my experience, blocking access is an inconvenience and only works for people that are not motivated enough to employ workarounds.

[Clint]

@Xanaphlaxes

Tiktok ban may also allow Executive Branch broad powers to ban websites.

Sean Davis of The Federalist says the U.S. government does not want to ban TikTok — they want to seize control of the surveillance and data mining functions of TikTok.

“TikTok isn’t going to be banned, because neither the CCP-run Chinese government nor the CCP-owned U.S. government wants to lose such a valuable tool for spying on Americans and poisoning the minds of their children. Instead, the corrupt U.S. intelligence bureaucracy wants control of TikTok, which is why it included the divestment mandate."

posted on X by Sean Davis of The Federalist

______________________________________________________

@SmallPaul

We might have to change the name of this thread literally if they don’t take it down…

Regarding your concerns that this thread might be banned, be aware that our work is archived off-site, away from this website and away from its servers. If our List and discussions come under attack, we can reemerge relatively unscathed in another thread on this site, or in a completely different venue.

[caffelatte]

Good to know

[Jinz]

@caffelatte

The U.S. government has authority over .com domains. They used it a few years back to shut down the website of Iranian state TV, which was using a .com domain.

I don’t think it’s impossible that this could happen to this website, as it is also a .com.

Last December, when FX Choice notified us of their changes, and I needed to go through a 2FA procedure with them in the course of withdrawing my funds, they sent me a text message, which I did not receive. I had had them send it to my main cell phone number, which is with a U.S. carrier. They told me that some U.S. carriers block the SMS messages they send. Fortunately, I also have service with a carrier in a different country. I had them send the SMS message there, and I immediately received it.

If the U.S. government gets cell carriers to block SMS messages from brokers they disapprove of, it seems to me not inconceivable that they would block a website that discusses using such brokers.

I miss FXChoice, are they closing shop for good?

[SmallPaul]

@_METHOS

I do not see why not. There is only so much that they can realistically regulate, especially for decentralized stablecoins. Even centralized stablecoins that can be controlled by the issuer would require special intervention as a result of suspected criminal activity, or, newly-issued legislation that could grant the government special regulatory oversight and access, which seems unlikely.

As we were talking about a week or so ago, I went to the Fxchoice website and found this. Could something like this stop unregulated or lightly regulated brokers as we see with FxChoice from dealing in cryptos?

BTW: Thanks to the recent posts on FX Choice, I remember people talking about them going out of business, and I saw this on their website, and maybe that’s why people think they are.

Crypto transactions are coming to an end

Announcement from 05/12/2023

Please note that some older news announcements may now be out of date and not currently accurate.

The FSC, the regulator and license issuer for FXChoice, has barred the company from accepting deposits or issuing withdrawals in crypto starting next year. FXChoice sincerely apologises to all its clients for the inconvenience these restrictions will cause.

What is changing:

• Crypto withdrawals will soon become unavailable. Exchanging crypto for traditional currencies and vice versa is also going away. If clients have funds in crypto accounts/wallets at FXChoice, the company strongly recommends that they withdraw them before 26 December.

Clients can sign in to my.myfxchoice.com, check the balance on all Live accounts and Wallets, and go to Withdrawal to claim their funds.

• Starting 12 December, FXChoice will not be accepting any new crypto deposits.

If you have questions or need help, FXChoice encourages you to contact the company using any of the channels via its site, including live chat, email or its ticketing system.

[Jinz]

@SmallPaul

As we were talking about a week or so ago, I went to the Fxchoice website and found this. Could something like this stop unregulated or lightly regulated brokers as we see with FxChoice from dealing in cryptos?

BTW: Thanks to the recent posts on FX Choice, I remember people talking about them going out of business, and I saw this on their website, and maybe that’s why people think they are.

I think they are closing shop or still waiting for their license, on their website, the option for deposit is remove, only withdrawal available

[SmallPaul]

@Jinz

I think they are closing shop or still waiting for their license, on their website, the option for deposit is remove, only withdrawal available

The FSC already licensed and regulated them, so the question arises, if they are going out of business, is it because they are unable to accept crypto for deposits and withdrawals?

As we have seen how Metatrader pulled us off guard, this makes me wonder if what’s happening at FXCHOICE is a glimpse at the future of offshore brokers and cryptos.

[Jinz]

@SmallPaul

The FSC already licensed and regulated them, so the question arises, if they are going out of business, is it because they are unable to accept crypto for deposits and withdrawals?

As we have seen how Metatrader pulled us off guard, this makes me wonder if what’s happening at FXCHOICE is a glimpse at the future of offshore brokers and cryptos.

Didn’t you just post above that FSC just barred them

[SmallPaul]

@SmallPaul

As we were talking about a week or so ago, I went to the Fxchoice website and found this. Could something like this stop unregulated or lightly regulated brokers as we see with FxChoice from dealing in cryptos?

@Jinz

Didn’t you just post above that FSC just barred them

@SmallPaul

The FSC, the regulator and license issuer for FXChoice, has barred the company from accepting deposits or issuing withdrawals in crypto starting next year. FXChoice sincerely apologises to all its clients for the inconvenience these restrictions will cause.

See above post