“Or, they can just rip your face off!”
Well, a welcome respite from rampant selling in oil today [so far] … bears need
rest too … bid/offer spreads at Coinexx, again today, not very good considering
there isn’t Mr. Jack Squat going on … they were at 3 earlier, then NY opened and
they blew out some … now around 4 … seriously makes me want to hit somebody
when I see shit like this.
Quite frankly, the oil trade faces a serious problem when it comes to CFD’s … the
places that have reasonable spreads don’t accept U.S. clients and their margins
are significantly higher … those that do accept U.S. clients have issues with
scumbag LP’s who jack spreads around, but offer much more favorable margins
for positions … I thought Coinexx would be a good solution, but they’ve shown
over the last week or so that their LP’s are every bit the scumbags you see at
Turnkey … the only other solution is to trade futures, where the emini in oil is 500
barrels and the spread is 2.5 cents … add commissions and U.S. fees, and you’re
a hair below 3 cents for a net cost … but, if you do that, you generate a 1099 from
the brokerage house if you’re a U.S. citizen.
So, either live with the dipshits at Coinexx to trade oil, and accept the fact there
will be days where you can’t trade cuz their LP’s are shit for brains, or open a
futures account and trade the emini … if you do the latter, check out Investors
account there if you’re a U.S. citizen, and you won’t generate a 1099 … their
default trading platform is “Rock Trader Pro”, which is OK, but somewhat more
complicated than either MT4 or MT5, but it’s a good platform … note, though, that
on the demo platform all futures for energies are delayed by 15 minutes cuz of the
CME … in any event, it’s a very good place to trade. If you want to stay in the U.S.
for futures [can’t for the life of me understand why], AMP futures is a good choice.
So, after scanning the complete landscape for oil, there are very few good options
available to U.S, citizens who want to trade CFD’s, thank you very much nanny
government & the CME, who have combined forces to make life difficult for those
who choose to trade … so what else is new?
Until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
No comments:
Post a Comment