Going offshore to escape the CFTC

That is very interesting. How is your experience with them? Do you really trust them with a ‘sizeable account’? I am really interested in Copy trading, do you know if they offer or any other Company that offers good copy trading?

Yes. My experience has been quite good with Coinexx. I always used to trade with a mix of brokers but somehow always had a liking for Coinexx.

My last other broker was Hugosway but since they and nearly every other broker lost their MT4 / MT5, I don’t think right now there is any other good broker out there that is offering MT4 / MT5. Every broker has some other platform like - Tradelocker, Matchtrade etc but I feel these platforms are no where near MT4 / MT5 and ironically enough, Hugosway has a wierd fake MT4 (which just keeps crashing).

So after trying all of these brokers and platforms, I ended-up with Coinexx as I only like MT4 / MT5 and to my knowledge there is no other half-decent broker out there which offers MT4 / MT5.

I am not into Copy Trading myself - but my friends are using CopyRack and seem quite happy with it - in case you want to check them out.

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-This list is probably outdated now, but here are a few brokers that were still offering Meta after the crackdown:

2024-07-18_13-25-02

.

As mentioned, Hugo’s Way seems to be using some kind of cloned version of Meta, and I would not recommend using them.

I never vouch for any broker, but MidasFX might be a good candidate for those that are looking for Coinexx alternatives. This firm was recommended to me by a reputable firm that no longer accepts US citizens. They claim to be providing numerous aspects of MidasFX’s infrastructure, and have similar offerings.

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RE: BROKERS WHO OFFER AT LEAST MT4 AND ARE ACCEPTING NEW U.S. CLIENTS

LQDFX (listed above) was bought by Plexytrade. My account was migrated from LQDFX, so I do not have experience applying for a new account directly. I believe their account opening page does not list United States as an option, but it was possible to open an account by clicking on Other. They offer both MT4 and MT5. My experience with them has been good.

Long Asia is another broker that accepts new U.S. clients and offers MT4. Cory (traderslanding.net) recently became an IB for them and will be offering PAMM’s through Long Asia. As I recall, the only issue I had opening an account was that I originally submitted a driver’s license, which they did not accept; they preferred my passport.

I haven’t mentioned them here yet because while I have sent a few small deposits to try different methods, I haven’t actually traded with them. But since there is continuing interest here about brokers who will accept new U.S. customers and offer MT4, I am mentioning them now:

https://longasiagroups.com/

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I wasn’t aware that Plexytrade offered MT5. Good to know. Thanks.

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I’ve opened an account with CopyRack and made a small deposit. Will update about how it goes.

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@caffelatte, do you know if they enforce ‘stops level’ on the contract specification? LQDFX usually had it set at 2 or 3. Thanks in advance.

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For the new traders trying to figure out crypto transfers- Some brokers won’t send to Coinbase and other US exchanges. The workaround is to move crypto to your wallet and then forward to whatever exchange you use to offramp USD. I never leave funds in custody with any exchange. Ever. Last Friday was a reminder of how vulnerable all systems are. I use Exodus and Trezor and both work well but have their differences.

You can save on conversion costs by sending USDC to Coinbase. They charge 0% fee because they have an interest in that stablecoin and promote its use. When I found out about that, I shifted some withdrawals away from USDT TRC20 where I could.

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What do you mean that Coinbase charge 0% fee ? You mean on conversion from USDC to USD ? So you just pay the spread bid/ask and nothing else ?

I’ve been exchanging in Kraken but if that is the case I may shift it to Coinbase.

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Never had problems with LQDFX (now Plexytrade) but the costs of withdraws there are very bad, specially for small amounts.
I mentioned that here:

I zeroed the account there because of that.

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Has anyone noticed this? Coinexx is claiming to be processing withdrawals instantly.

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So I went on Coinexx chat and asked, this is what they said. If this is true, they have improved on a significant area.

Screenshot 2024-07-24 011855

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Yes, they are promoting this on discord

Your favorite broker just got better - We Now Process Withdrawals in Real-Time!

Image

If True, this will be a game-changer

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There’s no spread. 1 to 1 on the exchange at no cost. Get it while it lasts. You’ll only pay the ERC20 fee and if you’re not in a rush, you can cut that in about half or better if you transfer off hours or weekends.

For USDT, I’ll look at the exchange’s charts and try to get a better rate with a limit order. Usually, with Gemini or Kraken and just try to sell at the top of the band, which usually works, but not always.

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Check out Fusion and Afterprime. My only problem with Afterprime is the lower leverage. Spread/swap are reasonable for both. I trade with their offshore entities for higher leverage but you can go with the ASIC entity and conditions might be identical. Support is good. Withdrawals take several hours to a day but I think Fusion said they’re rolling out instant withdrawals soon.

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Nice! meta + stable coins + $2 RT commissions… Now with instant payouts, Coinexx is #1.

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It makes me wanna go back, :point_up:

I would love to hear Trader’s experience with Coinexx instant withdrawals

If True, this will be a game-changer

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Never thought I would go back to Coinexx…but this is a game changer having instant payouts…

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Very exciting. So I made a test, got my withdrawal in like 4 minutes. This is actually amazing!


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