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  • #10,021
  • Feb 11, 2017 7:13pm Feb 11, 2017 7:13pm
Hi Acetrader, There's no point to call FXChoice, I just want to check them out & see if they're playing with my money. IMO, better go Offshore these days. I believe Oanda & Gain/Forex.com are far worse than FXCM. And because I'm a scalper, I'm only interested in the NO DD model with high leverage. So, nothing left for me in the US.
Currency futures will definitely be too slow. i'm used to action & speed, trading exclusively 3 pairs GBPNZD GBPAUD GBPJPY. I will let you know if something happen.Take care.
Quoting acetrader
{quote} Hi USATrader007 I agree 100%. I have tried in the past to call FXChoice USA number & all I get is a recording say voice mail is full. Have you had the problem? About to swap of to FX Future market, but did try to contact FXChoice weeks ago before I made the swap.
  • #10,022
  • Feb 11, 2017 7:27pm Feb 11, 2017 7:27pm
I sleep good at night..Thanks to my Pillow commercial just before 11PM your TV ADD
Quoting Forexia
{quote} Yes but they ARE audited each month to make sure their firms' operating funds are segregated from the client funds so if they are ever going under, at least the client funds will be intact to be returned back to the investors. And they have to have enough capital on hand to meet any ensuing risks and they have to publish their capital amount each month. Do any of the offshore brokers do that? Do you know how much capital does your offshore brokers have? And just like that famous TV news tagline: It's 11:00 PM, do you know where your money...
  • #10,023
  • Feb 12, 2017 3:08am Feb 12, 2017 3:08am
Quoting acetrader
{quote} Hi USATrader007 I agree 100%. I have tried in the past to call FXChoice USA number & all I get is a recording say voice mail is full. Have you had the problem? About to swap of to FX Future market, but did try to contact FXChoice weeks ago before I made the swap.
Well at least FX Choice won't take your money and run, that's for sure. WHY? Because it's a typical market maker very much like a casino that's getting rich making money off you with the typical market-maker gimmics: giving you bonus for you to be able to trade larger sizes so it can take more money from. Hunt your stops, widen spreads to ridiculous levels, not execute your stops until it's ten's of pips away from your original stops, asking you questions why you want to withdraw and then try to persuade you to stay... http://www.forexpeacearmy.com/forex-...page=50&page=1

Of course the company don't want to take your money when it's being so profitable trading against you. WHY kill the golden goose that's laying so many golden eggs? Of course if you want to know where is your money? Here is their response from their FAQ: https://en.myfxchoice.com/faq/trade-with-us/#3

Security of funds

We put a special focus on making sure our client’s funds are as safe as possible. Our mission is to provide them with a super safe and reliable trading environment while they can focus on making profits with trading.

How? What did you do? Where did you put the money? No idea.


Good luck trading with them!
Make your losses in demo. Earn your profits live.
  • #10,024
  • Feb 12, 2017 3:26am Feb 12, 2017 3:26am
https://futures.io/showthread.php?t=41528
FXCM shut down (banned by CFTC from operating in the USA)
 
???
Smile, Breath, and Go slowly
  • #10,025
  • Feb 12, 2017 5:09am Feb 12, 2017 5:09am
Quoting Forexia
{quote} Yes but they ARE audited each month to make sure their firms' operating funds are segregated from the client funds so if they are ever going under, at least the client funds will be intact to be returned back to the investors. And they have to have enough capital on hand to meet any ensuing risks and they have to publish their capital amount each month. Do any of the offshore brokers do that? Do you know how much capital does your offshore brokers have? And just like that famous TV news tagline: It's 11:00 PM, do you know where your money...
Customer funds are NOT segregated for U.S. RFEDs. Have you seen the Financial Data for FCMs on cftc.gov? Please do not give false information to other users here.
  • #10,026
  • Feb 12, 2017 6:40am Feb 12, 2017 6:40am
Forexia, What you're looking for does NOT exist. There is no guarantee of anything.. Why are you so concerned about where your money is? Do you really know where your money goes with Bank of America?
Electronic trading is allowed to us since only 1998. Before that it was the domain of the banks.
It's great we finally can be part of it even if at some point it gets hard to navigate thru their BS..I've seen it all, stop hunting, slippage, non sense spreads, and the worse..TS II freezes (on the price tab clock it was easy to see the seconds stop) . I always kept an eye on Oanda at same time for the past 7 years, because I was so tired of FXCM practices...but never made the switch, FXCM with their NO DD execution was my best option. Always.
I registered with NFA website years ago, they sent me an email 1h after FXCM got banned from the US and I closed my acct immediately. No way they will transfer me to Gain.
My advice, try offshore with a small deposit, leverage will do the rest, or stay on the side for a while ..something will come up, Forex is huge, it will not go down. And of course Trump will fix Dodd-shit-Frank law, no doubt about it.

quote=Forexia;9553197]{quote} Well at least FX Choice won't take your money and run, that's for sure. WHY? Because it's a typical market maker very much like a casino that's getting rich making money off you with the typical market-maker gimmics: giving you bonus for you to be able to trade larger sizes so it can take more money from. Hunt your stops, widen spreads to ridiculous levels, not execute your stops until it's ten's of pips away from your original stops, asking you questions why you want to withdraw and then try to persuade you to stay... http://www.forexpeacearmy.com/forex-...page=50&page=1 Of course the company don't want to take your money when it's being so profitable trading against you. WHY kill the golden goose that's laying so many golden eggs? Of course if you want to know where is your money? Here is their response from their FAQ: https://en.myfxchoice.com/faq/trade-with-us/#3 Security of funds We put a special focus on making sure our clients funds are as safe as possible. Our mission is to provide them with a super safe and reliable trading environment while they can focus on making profits with trading. How? What did you do? Where did you put the money? No idea. Good luck trading with them![/quote]
  • #10,027
  • Feb 12, 2017 1:57pm Feb 12, 2017 1:57pm
Quoting tasco
{quote} Customer funds are NOT segregated for U.S. RFEDs. Have you seen the Financial Data for FCMs on cftc.gov? Please do not give false information to other users here.
Customer funds are not segregated under CFTC? WHERE did you get that information??!!! This is what is stated clearly in the CFTC regulation regarding customer funds:

 

  1. All customer funds for trading on designated contract markets (exchanges) must be kept apart (segregated) from the futures commission merchants (FCMs) own fundsthis includes cash deposits and any securities or other property deposited by such customers to margin or guarantee futures trading.
  2. Segregated accounts must be titled for the benefit of the FCMs customers.
  3. Acknowledgements must be provided that would preclude a bank or clearinghouse from recognizing a right of offset against the account for the FCMs debts.
  4. Customer funds in segregation have a bankruptcy preference in the event of FCM insolvency.
  5. To the extent that customer funds are not sufficient to pay customer claims, the remainder of what customers are owed will participate pro rata in the distributions to unsecured creditors of the bankrupt FCM.

http://www.cftc.gov/IndustryOversigh...gregationfunds

Next time, get your facts straight before trolling or doing your marketing for your pathetic offshore broker!!

Make your losses in demo. Earn your profits live.
  • #10,028
  • Feb 12, 2017 2:28pm Feb 12, 2017 2:28pm
Quoting USATrader007
My advice, try offshore with a small deposit, leverage will do the rest, or stay on the side for a while ..something will come up,
WHY try a deposit no matter how small with a firm when I KNOW I am going to lose it all with them trading against me with the most unscrupulous tactics, hunting my stops, widening their spread, and adding huge slippages???!!! High leverage just means I will be able to lose the money quicker because high leverage only works to my favour when I am winning but there is NO WAY that I can win with those offshore crooks so high leverage just accelerates my losing all my funds with them??!! If I am going to do that, I might as well just go to a casino and blow all my money on a Roulette table. At least I will be able to enjoy good food and all the other entertainment!!!

I think the future of retail FX is clear. The market-making model is just NOT going to work. We need to establish a central exchange or at least the brokers need to be a REAL ECN like LMAX not like those b-booking wannabe's. If you are trading against clients, you are NOT going to get any money, offshore or inshore. Traders are lot more educated today than when forex trading just came out. We DO know when the firms are trading against or not. I have posted numerous posts before on how to tell if the firm is a real ECN or a b-booker and what are the gimmicks that market-makers use to trade against their clients. I guess now I've got a live example. If you want to learn what are the signs that the broker is trading against its clients, just look at all the complaints on FPA regarding FXChoice (ignore the one-line 5-star reviews and the spin given by the broker's rep) http://www.forexpeacearmy.com/forex-...page=50&page=1.

Thanks for showing us a casino brokers, USATrader007! And if all offshore brokers are like this, then you just proved my point why we need to stay away from them.
Make your losses in demo. Earn your profits live.
  • #10,029
  • Feb 12, 2017 7:57pm Feb 12, 2017 7:57pm
Quoting Forexia
{quote} Customer funds are not segregated under CFTC? WHERE did you get that information??!!! This is what is stated clearly in the CFTC regulation regarding customer funds: All customer funds for trading on designated contract markets (exchanges) must be kept apart (segregated) from the futures commission merchants (FCMs) own fundsthis includes cash deposits and any securities or other property deposited by such customers to margin or guarantee futures trading. Segregated accounts must be titled for the benefit of the FCMs customers. Acknowledgements...
Does not apply to forex. Maybe futures, not sure, but there is absolutely no protection of funds in US forex. Matter of fact, it is the CFTC which prohibits it.
  • #10,030
  • Feb 12, 2017 8:00pm Feb 12, 2017 8:00pm
Quoting Forexia
{quote} WHY try a deposit no matter how small with a firm when I KNOW I am going to lose it all with them trading against me with the most unscrupulous tactics, hunting my stops, widening their spread, and adding huge slippages???!!! High leverage just means I will be able to lose the money quicker because high leverage only works to my favour when I am winning but there is NO WAY that I can win with those offshore crooks so high leverage just accelerates my losing all my funds with them??!! If I am going to do that, I might as well just go to a...
I've been with my offshore broker for over 3 years. I am not a promoter, matter of fact, I TRY NOT TO MENTION their name. I have not once been exposed to any of the tricks of the "regulated" brokers such as widening of spreads, frozen platform, etc. My money ALWAYS arrives in two days and I only need 10% of the deposit to cover margin as I would with a US broker while the other 90% sits safely in my FDIC insured bank account. What are you mising here?
  • #10,031
  • Feb 13, 2017 12:02am Feb 13, 2017 12:02am
Quoting Forexia
{quote} Customer funds are not segregated under CFTC? WHERE did you get that information??!!! This is what is stated clearly in the CFTC regulation regarding customer funds: All customer funds for trading on designated contract markets (exchanges) must be kept apart (segregated) from the futures commission merchants (FCMs) own fundsthis includes cash deposits and any securities or other property deposited by such customers to margin or guarantee futures trading. Segregated accounts must be titled for the benefit of the FCMs customers. Acknowledgements...

Do you even know what FCM means? I gave you the place to look and you still FAILED! I am amazed!

"Next time, get your facts straight before trolling or doing your marketing for your pathetic ... broker!!" Quoting yourself Forexia
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  • #10,032
  • Feb 13, 2017 12:57am Feb 13, 2017 12:57am
Quoting tasco
{quote} Do you even know what FCM means? I gave you the place to look and you still FAILED! I am amazed! "Next time, get your facts straight before trolling or doing your marketing for your pathetic ... broker!!" Quoting yourself Forexia {image}
I am glad you showed this worksheet. Saved me a lot of work. Do you see the broker that's below "FXCM" on that worksheet? That is right. Gain Capita Group LLCl!! Is Gain Capital in Forex? Yes. What are those numbers under the two columns of "Customers' Assets in Segregation" and "Customer's Segregation Require" that you circled? Could those be the amount of customer funds that are segregated under the requirement by CFTC?

And just FYI. I DO know what does "FCM" mean. Obviously you don't so I am going to explain to you and anybody here who is not too familiar with CFTC. If you are a troll, you need to get off this forum before you make a bigger fool of yourself. And just so you know, your remarks are breaking one of the rules of FF here "Respect thy fellow traders". You make one more belittling, demeaning or derogative remarks about me, you will be reported and you will be put on permanent "Ignore" from me. Considered yourself warned. If you are really a trader, you might want to get your pencil and paper out and take some notes. "FCM" stands for Futures Commission Merchants. It's just a term that CFTC uses to describe any firm or broker that deal directly with customers in derivative products that INCLUDES Forex which is considered CFD that is registered with CFTC/NFA. FCM's are NOT confined to just brokers or dealers that deal with futures. In fact, any firm who wants to offer their brokerage services or do business with US residents in derivatives MUST be registered with CFTC and also be a member of NFA under the Dodd-Frank rule and once they do, they become what is called a "FCM". FXCM used to be a FCM not anymore. Gain Capital and Oanda still are "FCM''s but deal primarily in Forex trading. This is also the primary reason WHY foreign brokers don't want to deal with US residents because they don't want to waste their time and resources going through all the hassles of registering with CFTC/NFA especially when they are already being regulated by very reputable regulatory bodies like FCA in the UK and etc.

And as I have shown before, it IS a requirement under CFTC that ALL FCM must have customer funds segregated and those funds are not to be touched to repay any outstanding debts that the firm might have in the situation of bankruptcy and must be returned to customers. If there is not enough in the customer segregated funds to return back to the customer, then customers are going to share the rest of the remaining company funds with the other unsecured creditors.

You want to risk the safety of your funds to deal with those casino offshore brokers, that's your choice. Nobody will stop you but don't spread lies about things you don't know and that goes for everybody who's trying to promote offshore brokers.
Make your losses in demo. Earn your profits live.
  • #10,033
  • Feb 13, 2017 1:03am Feb 13, 2017 1:03am
Quoting pipmaster77
{quote} I've been with my offshore broker for over 3 years. I am not a promoter, matter of fact, I TRY NOT TO MENTION their name. I have not once been exposed to any of the tricks of the "regulated" brokers such as widening of spreads, frozen platform, etc. My money ALWAYS arrives in two days and I only need 10% of the deposit to cover margin as I would with a US broker while the other 90% sits safely in my FDIC insured bank account. What are you mising here?
You mean you don't trade with Traders' Way? Isn't that your broker's name according to your Trade Explorer? You are only not mentioning their name so you won't get suspended and then labelled as "Commercial Member" but it's clear you are promoting your offshore broker every chance you get. You have been doing it since you joined FF last year. We all try to ignore you but now you are seizing this FXCM event to do the heavy-duty promoting that's becoming too much.
Make your losses in demo. Earn your profits live.
  • #10,034
  • Edited 4:25am Feb 13, 2017 1:29am | Edited 4:25am
Quoting pipmaster77
{quote} Does not apply to forex. Maybe futures, not sure, but there is absolutely no protection of funds in US forex. Matter of fact, it is the CFTC which prohibits it.
REALLY?? I just showed how customer funds are REQUIRED to be segregated by all FCM's under CFTC. WHERE have you read that CFTC prohibits segregation of customer funds in US forex? LOL Can you show us so we can all learn something new??!! LOL

And let's look at how your wonderful offshore broker Trader's Way "protects" their customer funds. This is what they wrote on their website:

We keep client funds and company money separate. Our cash flows are organized in such a way that company expenditure cannot even be processed from accounts with client money;

That's fantastic but are they audited? CFTC conducts monthly and annual audits to ensure that they do satisfy minimum required capital requirement each month. In fact when FXCM's net capital fell short of the minimum required amount due to the SNB event, FXCM contacted CFTC/NFA right away and next day, the CFTC/NFA auditors were in FXCM's office going through their books. CFTC/NFA later on still tried to charge FXCM for not informing CFTC/NFA of of them not meeting the minimum require net capital. FXCM of course was able to produce the proof of their visit and I don't know what happened to that charge; we just never hear about it again. Anyway, all of the FCM's net capital information are published every month on the CFTC website.

Does Trader's Way publish those information? How much is their net capital do you know? Do they have enough to cover any risk situation? They claim their assets over liabilities is positive but what is it? Do you know? Of course on the other hand if they trade against their clients all the time and always win at the traders' expense I guess they would always have enough capital. But what happens if Trader's Way ever get into a situation of insolvency, how can you be assured that your funds are really segregated and will be returned to you no problem? What if they don't? What are your recourse? They are not even regulated by anybody. At least some offshore casino brokers like FXChoice is regulated by this financial regulatory body in Belize. And in fact, if something happens, WHERE are you going to find Trader's Way? Trader's Way doesn't even have an physical address published. They don't even want to tell you where they are and yet they want you to believe them that your funds are safe. LOL All their methods of contact are email addresses and online chat and ONE phone number which all can be shut down in a blink of eye. Once they want to bail, all they have to do is unplug their servers and they disappear and you don't even have a way to find them. You don't even know in which country they are located!!! How do you think you are going to get your money?

If anybody wants to trade with them, go right ahead! Good luck but just be prepared that your money once given to them, you might never see it again.
Make your losses in demo. Earn your profits live.
  • #10,035
  • Feb 13, 2017 2:27am Feb 13, 2017 2:27am
Quoting Forexia
{quote} I am glad you showed this worksheet. Saved me a lot of work. Do you see the broker that's below "FXCM" on that worksheet? That is right. Gain Capita Group LLCl!! Is Gain Capital in Forex? Yes. What are those numbers under the two columns of "Customers' Assets in Segregation" and "Customer's Segregation Require" that you circled? Could those be the amount of customer funds that are segregated under the requirement by CFTC? And just FYI. I DO know what does "FCM" mean. Obviously you don't so I am going to explain to you and anybody here who...
Is there no limit to your stupidity? Gain capital has futures trading, the segregation is related to its futures trading. Does FXCM offer futures trading to U.S. customers? No. Go ahead and check Oanda's segregated funds, 0. Do yourself a BIG FAVOR and send an email to CFTC.gov, ask if U.S. forex dealers have segregated funds. If you are lazy, go ahead and ask Jason Rogers here.

FCM does NOT equal forex! How could you be so WRONG? Can you notice FXCM is FCM RFD SD? RFD stands for Retail Foreign Exchange Dealer.
  • #10,036
  • Feb 13, 2017 2:30am Feb 13, 2017 2:30am
FOREXIA PLEASE READ!!
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  • #10,037
  • Feb 13, 2017 4:16am Feb 13, 2017 4:16am
Quoting tasco
{quote} Is there no limit to your stupidity? Gain capital has futures trading, the segregation is related to its futures trading. Does FXCM offer futures trading to U.S. customers? No. Go ahead and check Oanda's segregated funds, 0. Do yourself a BIG FAVOR and send an email to CFTC.gov, ask if U.S. forex dealers have segregated funds. If you are lazy, go ahead and ask Jason Rogers here. FCM does NOT equal forex! How could you be so WRONG? Can you notice FXCM is FCM RFD SD? RFD stands for Retail Foreign Exchange Dealer.
Thanks for your info. I was wrong but your rudeness is not needed. Putting you on "Ignore" now and reporting you for violation of FF code of conduct here.

Goodbye!!

But wow!! Funds deposited with forex trading firms in US is actually not segregated. I guess the only comfort is that they are required to keep minimum net capital requirement audited and published each month which gives some assurance of solvency. The segregation of customer funds only becomes important in the case of bankruptcy.
Make your losses in demo. Earn your profits live.
  • #10,038
  • Feb 13, 2017 5:30am Feb 13, 2017 5:30am
Quoting Forexia
{quote} REALLY?? I just showed how customer funds are REQUIRED to be segregated by all FCM's under CFTC. WHERE have you read that CFTC prohibits segregation of customer funds in US forex? LOL Can you show us so we can all learn something new??!! LOL And let's look at how your wonderful offshore broker Trader's Way "protects" their customer funds. This is what they wrote on their website: We keep client funds and company money separate. Our cash flows are organized in such a way that company expenditure cannot even be processed from accounts with...
Please explain how all this "regulation" has prevented US brokers from cheating their customers out of millions, sprcifically FXCM? Make 10 million, get fined 1 million. I would do that all day. My broker has never cheated me out of a dime. They cannot be regulated, veery regulated broker n the world cannot accept US clients due to FACTA. If the unregulated get regulated it's done for US clients. Just keep searching for something you'll never find and I'll keep making money trading.
  • #10,039
  • Feb 13, 2017 5:32am Feb 13, 2017 5:32am
Quoting tasco
{quote} Is there no limit to your stupidity? Gain capital has futures trading, the segregation is related to its futures trading. Does FXCM offer futures trading to U.S. customers? No. Go ahead and check Oanda's segregated funds, 0. Do yourself a BIG FAVOR and send an email to CFTC.gov, ask if U.S. forex dealers have segregated funds. If you are lazy, go ahead and ask Jason Rogers here. FCM does NOT equal forex! How could you be so WRONG? Can you notice FXCM is FCM RFD SD? RFD stands for Retail Foreign Exchange Dealer.
Yes, I thought I explained this to him in a post up above. The CFTC actually prohibits it in forex, all part of theur "game" to get everyone trading futures. Such an ovious agenda and nobody sees through it . Friggin amazing!!!!
  • #10,040
  • Feb 13, 2017 9:17am Feb 13, 2017 9:17am
Quoting pipmaster77
{quote} Please explain how all this "regulation" has prevented US brokers from cheating their customers out of millions, sprcifically FXCM? Make 10 million, get fined 1 million. I would do that all day. My broker has never cheated me out of a dime. They cannot be regulated, veery regulated broker n the world cannot accept US clients due to FACTA. If the unregulated get regulated it's done for US clients. Just keep searching for something you'll never find and I'll keep making money trading.
So you admit that the offshore broker that you are promoting is Trader's Way??? LOL OK Well just to let you know there are offshore brokers who are regulated like FXChoice, regulated by the financial regulatory body in Belize and others by CySec. NOT that they are any better but just as a comparison to your broker. And please explain how even a regulated broker was not prevented to cheat traders out of their profit by market-making (albeit disclosed) then how is a completely unregulated broker, a broker who never has to answer to anyone is going to be honest and "never cheat one out of a dime"?

Your broker has never cheated me out of a dime?? Really? A typical market-making broker has never cheated you out of a dime??? Well that's hard to argue especially if you want to owe all the negative returns from your trade explorer to be a result of your own trading incompetence. http://www.forexfactory.com/pipmaster77#acct.16 In fact, your username used to be pipmaster and then pipmaster69. What happened to those previous usernames? And from the shout history, you went from 127% positive to 27% down in red and every time when you lose, you deposit another $46 USD and change the start date of your trade explorer again, so if your broker is honest, then this is you manipulating your chart to show how badly you trade?

But luckily other traders are not as modest as you are about their trading skills, these are the wonderful reviews that traders who have traded with Trader's Way have posted:

http://www.forexpeacearmy.com/commun...scammer.21954/

https://www.complaintsboard.com/comp...y-c738608.html
Make your losses in demo. Earn your profits live.
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