Hi Mike. Welcome back. I look forward to your continued participation in this thread.
Thanks for your thoughtful discussion of the Trusted Broker designation. I encourage everyone to read your comments.
I have noted your votes:
• retain the Trrusted Broker designation for Coinexx
• retain the Trusted Broker designation overall
(also award the designation to MidasFX, and consider awarding it to DuraMarkets)
• remove Ox Securities from the List
If we are to maintain the trusted broker label, at this point, I would choose Duramarkets since I established an account with them this year, and they have proven to be very dependable. I will update the discussion if there are any developments. While I did suggest MidasFX to this thread, I have not actually deposited any funds into that account.
I agree with Mike’s logic on Coinexx. I believe the list and management of the list is solid and based on the collective experience of this forum and it’s leaders. It works. I don’t say this lightly, as the list and forum have been curated for years and that alone is a huge deal. I don’t believe my experience, unless it was one of many, should sway any vote for or against. This was never my intention. My 2 cents.
Thanks, James.
I have noted your vote for DuraMarkets.
Thanks, Nomad.
I take your comment as a vote to retain the Trusted Broker designation for Coinexx.
Just thought I’d share I’ve recently tried to withdraw money from Coinexx and got an email saying someone “attempted to reach me for the phone verification for my withdrawal”. I had no missed call from and nor have I ever even had this be a thing, nor do I want it to be a thing. Just thought I’d warn about this random but also odd practice. The withdraw is no bigger than what I’ve done in the past.
Have you gotten your money? Please keep the thread up-to-date on your situation.
I have not as it has been maybe 8 hours I would say since I put it thru so not overly alarming yet on if I will receive it but having to deal with this at all is unappreciated to say the least. I will update when I do and if I do even up being forced to answer a phone call. I’m having fun discussion on the discord of coinexx which they are trying to say that it is “standard security protocol” even though it has never occurred to me in years with multiple withdrawals and the amount is no greater than past largest amount.
The icing on the cake is that the email seemed very scam~ish since they said they attempted to call me but I never missed a call. But the coincidence/timing was the only thing made me believe it was legitimate.
Did they inform you that they had sent the email?
The person discord did not confirm exactly that they had sent it but I didn’t ask directly. But I am in contact with them now thru discords DM and they asked for my email and phone # and country code saying I will get a call soon to verify.
I don’t currently have a reason to believe the email wasn’t legitimate as support did verify that it now a “standard” practice, though unsure what makes it standard or what would even trigger the need for it. I’ve been with them for a while so I was caught quite off guard at first.
Just wanted to update that I did receive the call this time. I’m assuming maybe there was a country code mix up. They wanted to verify the address I was sending it, asked if there any reason why I wanted to withdraw, and made an offer about if I was willing to keep my money in there they would waive fees or something for X time. I’ll be honest I didn’t quite pay attention to the exact wordage of the last part aka the “offer” since I just wanted my money.
I was told it was indeed verified and should be processed soon.
Looking up one review, it appears Coinexx does do phone call verification for larger withdrawals; you can see Coinexx’s response here.
This additional trader discussed the phone call verification with Coinexx and revised his review. Although some traders may find it annoying, it doesn’t appear to be a problem. Overall, it’s for your financial security and safety.
That would certainly ring loud alarm bells for me.
Why do you think it’s so important to them, for clients not to withdraw their own money? My bank doesn’t ever ask me why I want to withdraw any of my own funds from my own account. Why should a broker? 
The security protocol shouldn’t be an issue, especially when verifying your crypto address, but i would ask them why they needed a reason for a withdrawal
Offshore brokers have always been on traders’ radar in the US, and it’s easy to see why: bigger leverage, lower fees, wider product choices, and CONFIDENTIALITY.
That’s a hell lot of benefit from offshore brokers for the US traders, pained by the nannies.
But here’s the flip side: the “offshore” tag also comes with a fair bit of risk. And we all have been aware. These brokers may not been under any strict regulatory eye.
So here are my 2 cents- how have these brokers (and traders) survived?
COMMUNITIES of TRADERS- We have shaped the outlook of these brokers; we have built their business through the strength of our unity.
So, we terribly need this list of trusted brokers which is being run from 15 years- definitely.
This list is watched by brokers as much as traders, and we have seen instances where brokers have taken action in many cases raised here.
Regarding Coinexx or Duramarkets, I have a 6 figure account with Coinexx, and just a few hundred bucks with Duramarkets. I also have a big account with MidasFx. I never keep all my eggs in the same market.
I recommend all these in the Trusted brokers list.
Having said that, its important to keep an eye on all these offshore brokers closely.
I concur with you pal.
@sharpforextrader
Thanks for your comments and recommendations.
Above, I quoted two short excerpts from sharpforextrader’s post. I encourage everyone to read his entire post. In it, he validates what we are doing here.
After reading SharpForexTrader comments, I completely agree with maintaining the trusted broker label, and thank you, SharpForexTrader, for that post.
Thanks to all of you who posted your comments and votes on the questions we asked.
The consensus is as follows:
• We will retain the Trusted Broker designation in its present form.
• Coinexx will remain on the Trusted Broker list for the foreseeable future.
• Two recommendations are on the table for additional Trusted Broker designation:
DuraMarkets and MidasFX• Ox Securities will be removed from Group 1 (our basic offshore broker list).
Any further comments on these points should be posted before the weekend. On Saturday, I will update the List. After that, we should move on to the task of finding and vetting new brokers who want our business. They’re out there – we just have to put in the time, and do the basic due-diligence, to find them.
As time allows, I will tweak the listing for AAFX. We have included AAFX in our List for five years, but the wording in that listing is now obsolete. AAFX was acquired by BoForex this year, and since that acquisition AAFX no longer accepts new US clients. BoForex, on the other hand, does accept new US clients.
If you are a US citizen or resident, you can access the AAFX website. However, if you proceed to open an account with them, you will be re-directed to BoForex (now the parent of AAFX).
BoForex, by itself, qualifies to be on our List. And the simplest tweak may be simply to delete the AAFX listing and replace it with a listing for BoForex. I will know more, after some further investigation.