If we’re talking about “regulated = always safe,” the reality is messier. Even big-name Western banks that everyone trusted have done things that directly hurt their own customers - from major sales scandals to complete collapses where people couldn’t access their money.
Examples: Wells Fargo, Northern Rock, BCCI. Probably anyone can mention own examples.
So the idea that regulation automatically protects you has already failed in real life more than once.
But anyway - this thread is about xbtfx discussion, not about the general debate “regulated vs. unregulated.”
If someone wants that discussion, there’s a massive Babypips thread where US traders specifically look for alternatives, including non-regulated options, and compare pros/cons there.
Some traders simply prefer brokers that ask for less personal information. It doesn’t make them wrong; different people have different risk tolerances and privacy levels. Your personal approach doesn’t have to dictate how everyone else should behave.
And yes - big, well-known brokers have collapsed too. Two quick examples traders still remember:
MF Global and Alpari UK went bankrupt practically overnight after the CHF event. Does anyone remember that CHF corruption? I remember. Lost few thousands =/
So regulation didn’t save clients in either case.
I’ve had two brokers fail on me over the years, so I’m not romantic about the industry. Right now I keep accounts with 4 brokers — one of them is xbtfx, which I’ve used for a couple of years without any issues.
There is a huge thread on bitcointalk called ‘Recommended Forex Brokers Accepting Crypto Deposits and Withdrawals’. That thread is more active and contains more info. Xbtfx is one of the recommended brokers. Thanks to that thread I’ve chosen that broker. It was the time when xbtfx didn’t require any documents…
I also see several potential clients in this thread who asked normal service-related questions, and unfortunately nobody - including the official rep - has answered them yet. Hopefully they will.
both are complicated but after few days both are easy to use
use crypto account there