Yes, I know that, and it is not regulated also.. but the advantage is it accepts orders only with 0.001 btc , it would be good to do the tests with real money there at the beginning I think, that's my humble opinion.
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No worries about being regulated. It seems the regulated brokers in the US have had the issues and nobody else. You want to transfer funds in and out using btc but trade with the base currency USD. Go ahead and test with this broker because the more knowledge we have the better.