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  • #21,541
  • Sep 12, 2023 8:17am Sep 12, 2023 8:17am
Quoting Takisd
{quote} I meant one not in the EU What about an FCA company under their professional exemption? This should get you the leverage.
Yes professional is a way but i dont have the 500k networth yet to be considered professional client, and opening a company offshore in my country is useless, because i will still have to pay corporate taxes and my company will still be designed as european
  • #21,542
  • Sep 12, 2023 8:21am Sep 12, 2023 8:21am
Quoting DeltaCapital
{quote} ic markets stopped accepting europeans in seychelles branch some months ago, you know any or used any offshore broker that pays and isnt shady?
I'm from europe and I have mine opened in Australia with 1:500 leverage in forex. But I opened it about 4 years ago or so.
  • #21,543
  • Sep 12, 2023 8:22am Sep 12, 2023 8:22am
Quoting pipmaster77
{quote} They will choke the payment processors, so everything will move through crypto, until, of course, they shut that down. Look at the events thus far, the largest prop firm gets a feeze order and operations are halted IMMEDIATELY. Less than a week later, the main payment processor, Deel, which, I don't know, let's say 80-90% of payouts are paid through has stopped processing payouts IMMEDIATELY. What will come next week? So, yeah, maybe, a few small prop firms operating from the islands survive. At what point is it just no longer worth jumping...
As I said earlier. They are not only after MyFF they will screw all possible ways for trader to trade with these firms. Crypto will only be option but for those who are cheer leaders of bashing MyFF about cheating will get more cheated since there is no chargeback. It will be naive to think they will only after MyFF, they will be doing same with all online prop firms be it futures (they may leave traditional ones but onlines like Apex, top step etc. along with forex ones)
  • #21,544
  • Sep 12, 2023 8:22am Sep 12, 2023 8:22am
Quoting Capablanca
{quote} I'm from europe and I have mine opened in Australia with 1:500 leverage in forex. But I opened it about 4 years ago or so.
They did not decrease your leverage after the leverage rules? or you are considered a wholesale trader?
  • #21,545
  • Sep 12, 2023 8:23am Sep 12, 2023 8:23am
Quoting Cryptosurf
{quote} Same here, not a fan of crypto payments only. It has become increasingly difficult to on ramp and off ramp in the USA. Especially large amounts. I had Coinbase demand explanation where a sizable deposit came from. Simply explaining it came from FX Broker wasn’t enough. I had to jump through hoops and wait for two weeks for Coinbase to release the hold. By that time BTC price had deteriorated and lost 1/3 of value.
They closed my Coinbase account due to an incoming payment from TradersWay. They said it was a blacklisted address. Haven't even bothered to try and use them again.
  • #21,546
  • Sep 12, 2023 8:25am Sep 12, 2023 8:25am
Quoting Cryptosurf
{quote} Same here, not a fan of crypto payments only. It has become increasingly difficult to on ramp and off ramp in the USA. Especially large amounts. I had Coinbase demand explanation where a sizable deposit came from. Simply explaining it came from FX Broker wasn’t enough. I had to jump through hoops and wait for two weeks for Coinbase to release the hold. By that time BTC price had deteriorated and lost 1/3 of value.
What did you have to provide to justify it in order for them to accept ?

You could have locked the risk of BTC quote selling BTC future contracts if you have an account in Interactive Brokers, for example.
I did it a couple of times when I received BTCs payouts but didn't want to exchange it right away.

There are 2 contracts. One is BRR which has notional = 5 x BTC. The other one is micro MBT which account for 1/5 x BTC.
Unfortunately there is no contract that I know with notional = 1 x BTC
  • #21,547
  • Sep 12, 2023 8:26am Sep 12, 2023 8:26am
Quoting navk
{quote} By using laptop, I can use technicals for trade entry. With mobile, i just " see " and " manage " trades.
why not just labtop? what advantage has the mobile?
trading is like dancing, don't think and just listen to the music!
  • #21,548
  • Sep 12, 2023 8:27am Sep 12, 2023 8:27am
Quoting DeltaCapital
{quote} They did not decrease your leverage after the leverage rules? or you are considered a wholesale trader?
The reduction in leverage is for us and canada based brokers.

Australia, UK. and other offshore brokers are still offering 1 : 500
Intraday only.
  • #21,549
  • Sep 12, 2023 8:28am Sep 12, 2023 8:28am
Quoting birdland
{quote} why not just labtop? what advantage has the mobile?
In my night time, can not sit infront of laptop.

Just lie down and view thro mobile.
Intraday only.
  • #21,550
  • Sep 12, 2023 8:28am Sep 12, 2023 8:28am
there are more than 1,000+ scenarios in which price can move at a particular period of time and out of them only 1 scenario is finally printed on the chart
there is no way a person can predict anything, concepts like support and resistance, liquidity are of no use, as people cannot say with confidence where it will go first
also people cannot tell if it first goes there.. will it come back again.. or keep continue, or it come will come back tomorrow, or the next day or now it will just keep going the way it is going now

and person out there yelling risking 1% trade, ask them where there sl is, how many pips it is, what is 1% according to them? what they will do next?
if your risk is 1% per trade then how you making 10% in just 2 or 3 days? which is actually 100% gain in reality and risk per trade is 10% in reality.
these prop firms deleted all that 30 days concept and made unlimited because they know people gambling nature from their experience by spending so much time in the industry, even if time is unlimited people want to make 100% gain, 80% gain in just a week which show only gambling nature, and if they are passing it, it means either they know something which tells them the exact way the market wants to go before not going certain pips in opposite direction or its pure luck, this is no risk management at all if they are making insane gains like 100% or 80% in just week.

sometimes holding losing trade is profitable, sometimes holding profit trade is loosing.
how anybody will decide whether to close, or to let it run and wait for recover, or wait for bigger profit target.
people give try in here as well. if they close and it then goes against them... they become happy and if it goes more in favour they say i close early i should wait more. all this keep happening in this trading everyday. there is no certain way.

people starting their own prop firms because they agree to what i am saying here.
believe me these people who have started this business are more intelligent than us if they can't find a way, how we can except ourselves??
and instead of doing trading themselves.. they decide to do business out of this gamble..
why not arrange a group of people with different mindsets with different skills with different emotions and feelings, with different ways to do gamble, with different scale of greed and fear.. and let them gamble on demo accounts.. 90% will fail, 10% will pass.. and we will keep an eye on those who making consistent gains and ask them their strategy and do interview.. and copy their trades on our live accounts.. also if they are so intelligent they must be having some best copy trading system with artificial intelligence and automation which allow them to roam around the world while we are just sticking to our laptop all the time.

i can write a lot more, but.. its okay
  • #21,551
  • Sep 12, 2023 8:30am Sep 12, 2023 8:30am
Quoting DeltaCapital
{quote} They did not decrease your leverage after the leverage rules? or you are considered a wholesale trader?
Not sure what leverage rules you're referring to but all stays the same. I'm a perfectly normal trader, not professional. And low balance. I don't use them much, I prefer Interactive Brokers.
Attached Image (click to enlarge)
Click to Enlarge Name: IC markets.PNG Size: 22 KB
  • #21,552
  • Sep 12, 2023 8:33am Sep 12, 2023 8:33am
Quoting navk
{quote} The reduction in leverage is for us and canada based brokers. Australia, UK. and other offshore brokers are still offering 1 : 500
Not for Canadians though Even if they accept Canadians they wont accept residents of Ontario, BC or alberta where almost 80-90% of population resides.
  • #21,553
  • Sep 12, 2023 8:35am Sep 12, 2023 8:35am
Quoting sampat
{quote} Not for Canadians though Even if they accept Canadians they wont accept residents of Ontario, BC or alberta where almost 80-90% of population resides.
Was trading with axi traders, Vantagefx long ago with 1 : 500 leverage. ( and gomarkets )
Intraday only.
  • #21,554
  • Sep 12, 2023 8:37am Sep 12, 2023 8:37am
Have you all heard about this amazing product called Binary Options?

xD This is how binary options boomed way back, when US citizens couldnt use brokers for leverage anymore.
  • #21,555
  • Sep 12, 2023 8:40am Sep 12, 2023 8:40am
Quoting Takisd
Have you all heard about this amazing product called Binary Options? xD This is how binary options boomed way back, when US citizens couldnt use brokers for leverage anymore.
Yep I used to have account with MarketsWorld (they were in Isle of Man) they used to like MyFF but they screwed. Not only that canadians followed them 1 step ahead and they banned Nadex to accept candian residents. I really liked Nadex. Same steps followed there they banned credit card companies and sued them ultimately they dried out. So those who are thinking offshore is relatively safe place. YOU ARE WRONG. Look what they have done with deel.
  • #21,556
  • Sep 12, 2023 8:43am Sep 12, 2023 8:43am
Quoting Capablanca
{quote} Not sure what leverage rules you're referring to but all stays the same. I'm a perfectly normal trader, not professional. And low balance. I don't use them much, I prefer Interactive Brokers. {image}
i also had my lvrg cut by ICmarkets, still have the account but last few years traded more propfirms then own acounts.
i recall asking support after the lvrg cut if Seychelle was still an option and what the lvrg would be like there, they said no and offered proffesional account.
  • #21,557
  • Sep 12, 2023 8:46am Sep 12, 2023 8:46am
Quoting navk
{quote} The reduction in leverage is for us and canada based brokers. Australia, UK. and other offshore brokers are still offering 1 : 500
Uk 1:30 even less for gold and indices.
  • #21,558
  • Sep 12, 2023 8:49am Sep 12, 2023 8:49am
Quoting Capablanca
{quote} Not sure what leverage rules you're referring to but all stays the same. I'm a perfectly normal trader, not professional. And low balance. I don't use them much, I prefer Interactive Brokers. {image}
Mine redirects to icmarkets.eu website, i think is because cysec forces brokers to not accept europeans in their other licenses if they have cysec license, the same happens with pepperstone tickmill and majority of brokers with cysec license
  • #21,559
  • Sep 12, 2023 8:50am Sep 12, 2023 8:50am
Quoting navk
{quote} The reduction in leverage is for us and canada based brokers. Australia, UK. and other offshore brokers are still offering 1 : 500
UK for retail traders is capped at 30:1 only professionals can have more, australia is the same
  • #21,560
  • Sep 12, 2023 8:50am Sep 12, 2023 8:50am
Quoting navk
{quote} Was trading with axi traders, Vantagefx long ago with 1 : 500 leverage. ( and gomarkets )
what was the best broker of those 3 for you? did you have any problems with them?
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