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Infinity Shares updates with good news on changing of broker,
Good Day,
After 2 weeks of searching, we found an alternative broker that we feel covers our trading needs. Our new broker is HMS, which is also based in Lux, making our transition from Internaxx a lot easier and faster. Paperwork will be done on Monday, applications, bank wires and other required materials. Of course once everything is approved, we will allow a few people to audit the new account to verify that everything is there.
We expect to resume trading as soon as all of the requirements are met and things are looking up for IS so far.
Concerning the E-gold situation, we have around 10% of total IS capital in e-gold, but we will be reducing that down to 2% this Monday to ensure the safety of the funds. The 2% left online will be maintained to cover short-term withdrawals and from our point of view is an acceptable risk to deal with rather than go through the process of exchanging small amounts back and forth between accounts.
Pet Project Photos will also be posted in the forum within the week.
Chris’ father is slowly improving, and will be (hopefully) out of the hospital in 2 weeks.
Some good news at least.
Steven, Stijn and Xtian
http://www.infinityshares.com
Popularity: 2% [?]
Cool, now that the brokerswitch has really started it may be time to concentrate on adding an alternative funding/withdrawal method. There are possibilities here :
1. E-bullion. At first side, E-bullion is expensive for NON-US members. But LondonGoldexchange(For example) can exchange E-bullion for Cash through bankwire for a small fee. Funding or withdrawing to E-bullion would most likely a little bit more expensive then E-gold.
2. Pecunix. A E-gold alike payment system based in Swiss. They are small but LondonGoldExchange does business with them as well. You can easily exchange Pecunix funds for Cash.
3. Alertpay. I didnt look into it, but maybe its an option?? Maybe someone else can give more info on this.
E-bullion will be the next one to replace E-gold if E-gold doesn’t survive the indictments.
Concerning E-gold, it’s just a precaution in order to safeguard everyone’s money (by not keeping a lot of the funds online)
E-Gold withdrawals ARE STILL SUPPORTED btw, just no deposits through e-gold at the moment, but if people want their money out through e-gold, it should be no problem.