Discuss Every off-shore broker has some sort of sketchiness of varying degrees I find

[BL789]

I'm pretty new to the off-shore game since deciding I needed to utilize one
I have to say that there are definitely some shady or at least questionable practices that you wouldn't see in US jurisdiction.

I haven't gotten far into trading with them so most of what I've noticed was during the funding processes...naturally right? Any of you patriots probably know what I'm talking about and have some really good experiences too.

But it's the little things that outweigh that seem so obviously questionable make going to an off-shore so nerve racking. I want to let any unsuspecting people know my experiences so far one of which I made it all the way past verification and another that I'm currently trading lightly.

Is it better to put it up on the reviews or should I post it here. I really want to forewarn residents of the US that are so restricted already and have only a handful of these off-shores that will accept them. Even then It cold end up being unwanted trouble for them or a bit of annoyance depending on their risk tolerance of this kind of thing.

 

[sebking1986]

Probably better in the review section if you have thoughts on some of these brokers and haven't been scammed. What are the "little things" you mention as you can say that without naming the broker if that's a concern.

 

[Treacle]

Maybe you've just picked the wrong broker. I've used offshore brokers for years without issues....

 

[FriendlyFX]

I use offshore and regulated .
It depends on the assets you may want to trade leverage options etc .
Also some brokers don't allow scalping/hedging with will restrict EA usage

 

[BL789]

Maybe you've just picked the wrong broker. I've used offshore brokers for years without issues....

I think the average person doesn't look at their brokers hard under the microscope when in search of high leverage. Based off what I see in reviews and people that I've spoken to.

 

[BL789]

Probably better in the review section if you have thoughts on some of these brokers and haven't been scammed. What are the "little things" you mention as you can say that without naming the broker if that's a concern.

I don't want to say which brokers since I am still with one that doesn't convert my withdrawals from their base fiat currency to mine when I receive my crypto. That was their only option yet they still continue to advertise bank wire - another issue. So when I ask for USD I get quoted in Euro then the amount gets sent back to me in USD for the amount number. That is a real no-no, and I can see this because I use my own crypto wallet and can see the transaction detail. They kept telling me it was my end not knowing I use my own standalone wallet. I suggest all of you do when it comes to sending & withdrawing. I know other people using the same broker and they're confused but didn't question it.

A different broker was routing their credit card transactions through a Chinese third party. My bank and MC was halting the transactions. Really questionable was the company doesn't advertise anything Chinese. Why would a fx trading company registered in western Europe need to have dealings with the Chinese. I suspect they're actually a Chinese entity hiding behind the European shell corp or something. There's no doubt they' offer "liquidity" because people have and still do use them. I just don't like to deal with a company that doesn't shoot straight and who knows what ally my KYC material is doing for them.

 

[HeavenLeighRob]

I have to disagree on this one. Yes, there are a lot of scam offshore trading brokers and people do need to be aware of that. However, there are some legitimate ones as well and sometimes you can find perks and benefits that aren't always available with regulated brokers. High leverage would be an example. One way to find the trustworthy companies is to look online for reviews from real people. If you can't find any mention of a company anywhere, that's a red flag.