phildunn

It's a popular forex broker currently because of their tight spreads,no lockup & widen spreads on news,scalping allowed and lucrative bonus reward.They accept egold,webmoney,wire transfer. They're offshore broker like NF and Marketiva. Min deposit is $25,max leverage is 1:500 but no micro account yet. Good alternative to trader who like to use NF(NF stop accepting egold). Just ignore this thread if u hate offshore brokers.
Beaverhead Financial Inc

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opie999

Why would anyone hate an offshore broker?

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kibitzer

Because they're not regulated by the NFA, etc. and are therefore seen as more risky than those which are.

tianx

Not to mention the fact that they can do magic tricks on your account without any fear of getting shut down by the big regulatory agencies.

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JoseLeon

The best option is to avoid non-regulated brokers and those who accept e-currencies.

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"The more I know the people the more I love my dog"

opie999

Ahh, ok. That all makes sense.

Is there anyone here using an OS broker they consider reputable/reliable?

Are there any advantages, e.g. taxes, etc.?

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JoseLeon

I am using Interbankfx now.

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"The more I know the people the more I love my dog"

kibitzer

North Finance is ok, too. However, I understand they no longer accept e-gold as well, (which is the main advantage in using an offshore broker: ).

PeterM

I have heard all kinds of bad stuff about this broker. People have had their profits stolen from them and accounts closed. Be careful!

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- Free Forex Strategies and Ebooks

Optional

Here is one customer's "proof" of being ripped off by them

FXOpen.com is a scam company! Beware!

(FX Open is/was same company as FXEgypt)

A search for them on forexfactory will turn up a few other people bashing them as well.

These broker domains are all connected apparently