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Which US based forex broker to go with?

  • #21
  • Jun 11, 2017 2:17pm Jun 11, 2017 2:17pm
Quoting vietel105
i think oanda is still good for US trader. Hope it help.
Without description it looks odd when anyone recommend at any broker.
I request for all , please don’t recommend at any brokers which you have not used or verified.
  • #22
  • Jun 12, 2017 1:11pm Jun 12, 2017 1:11pm
How you recommend your trading brokers
describe or shortly it doesn’t matter I think.
But Why you recommend
this should be describe. Otherwise it looks really incomplete
  • #23
  • Jun 14, 2017 7:04am Jun 14, 2017 7:04am
Quoting calderone
None.
Not necessarily. I mean if you prefer low leverage, no hedging, FIFO, higher spreads, higher commission, no protection of funds and Your broker trading against you.....then a US broker may be just what you are looking for. lol

This is the US regulations idea of "protecting" the trader. Government is such a scam, they simply want everyone back in the futures market, it is the ONLY reason these stifling forex regulations exist.
  • #25
  • Jun 14, 2017 10:13pm Jun 14, 2017 10:13pm
Quoting Melch
Hidden
See, the regulations are so ridiculous, people from other countries post with good intentions not even realizing US can only trade at 2 brokers and they both offer all of the wonderful conditions I posted above.
  • #26
  • Jun 15, 2017 2:00pm Jun 15, 2017 2:00pm
Quoting ab-Forex
The only thing I wish I could do is trade metals, this is one reason I looked into going offshore. I do not understand why you cannot trade Gold and Silver with the US brokers. What is the reason behind this?
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 enacted by US Congress which became effective July 15, 2011 prohibits US residents from trading over the counter leveraged or margined basis precious metals including gold and silver. As a result, firms were prohibited from offering these types of contracts to the retail public unless the contracts were traded on-exchange. The Act can be found here: https://www.fdic.gov/regulations/ref...tions.html#742

As a US resident, you can trade unleveraged gold and silver through FOREX.com but the only way to trade leveraged gold and silver with a US broker is via futures. That said, our parent company GAIN Capital offers futures trading through its Daniels Trading subsidiary. You can even use the same login details to trade gold and silver futures with Daniels as you use to trade currencies with us.
  • #27
  • Jun 15, 2017 8:22pm Jun 15, 2017 8:22pm
Quoting FOREX.com
{quote} The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 enacted by US Congress which became effective July 15, 2011 prohibits US residents from trading over the counter leveraged or margined basis precious metals including gold and silver. As a result, firms were prohibited from offering these types of contracts to the retail public unless the contracts were traded on-exchange. The Act can be found here: https://www.fdic.gov/regulations/ref...tions.html#742 As a US resident, you can trade unleveraged gold...
That's very interesting thanks. Do you mind posting that link?

Ok so I just went to https://www.danielstrading.com/login put my FOREX.com login information in it and it did not recognize it.
  • #28
  • Jun 16, 2017 3:26am Jun 16, 2017 3:26am
Quoting pipmaster77
{quote} See, the regulations are so ridiculous, people from other countries post with good intentions not even realizing US can only trade at 2 brokers and they both offer all of the wonderful conditions I posted above.
You're referring to Oanda and FXCM right? Yeah they're both MM Brokers but that doesn't matter if you're a skilled trader.
  • #29
  • Jun 16, 2017 6:39am Jun 16, 2017 6:39am
Just adding my 2 cents. Have you considered any multimarket brokers such as Interactive Brokers, TD Ameritrade, etc? I have use TDA and haven't had any issues with them. I think a lot of people forget about some of these brokers when looking to trade FX exclusively.
  • #30
  • Jun 16, 2017 7:48am Jun 16, 2017 7:48am
Quoting GoodOlJoe
{quote} That's very interesting thanks. Do you mind posting that link? Ok so I just went to https://www.danielstrading.com/login put my FOREX.com login information in it and it did not recognize it.
Apologies for any confusion, Joe
You would still need to complete a separate Daniels Trading agreement to cover futures, options, etc. Any more questions, please feel free to PM.
  • #31
  • Edited 9:42pm Jun 16, 2017 5:20pm | Edited 9:42pm
Quoting Melch
{quote} You're referring to Oanda and FXCM right? Yeah they're both MM Brokers but that doesn't matter if you're a skilled trader.
Sure it does. Their spreads and commissions are too high. That cuts directly into your profits. For example, my spread on GBPAUD is 2.5 pips less than either of these brokers. My volume is 10 million per month. That's $2500 less per month in spreads, so even with a commission of $600 on that 10 million, that's 1900/month. I'll take that extra $24,000 at the end of the year. In addition, I only need to keep 10% of what I would with a US broker for margin, while the other 90% of my capital sits securely in my FDIC insured bank account. So, yes it makes a HUGE difference, but thanks for posting.
  • #32
  • Jun 17, 2017 8:06pm Jun 17, 2017 8:06pm
Quoting pipmaster77
{quote} Sure it does. Their spreads and commissions are too high. That cuts directly into your profits. For example, my spread on GBPAUD is 2.5 pips less than either of these brokers.
So which broker are you currently trading with right now?
  • #33
  • Jun 17, 2017 9:07pm Jun 17, 2017 9:07pm
Ahh .. these US traders aren't that lucky as others for they have a lot of restrictions by their prevailing law to trade with offshore brokers and moreover many online brokers does not even accept traders from US. Better they should check any other alternatives to earn some good returns on their income.
  • #34
  • Jun 20, 2017 10:19am Jun 20, 2017 10:19am
I just wanna let everybody know that FOREX.com and Oanda are not the only US retail brokers. Have you guys heard of ATC Brokers? It blows the 2 out of the water, hands down. The spreads are very competitive, can't even compare with forex.com and oanda. Commission is $0.80 per round trip per 0.01 lot for all pairs. The only slight disadvantages are that minimum deposit is $5000 and lowest trading amount is 0.05 lots. It's still not that bad. They are also regulated by the NFA and CFTC.
  • #35
  • Jun 20, 2017 10:31am Jun 20, 2017 10:31am
Quoting trickshady
I just wanna let everybody know that FOREX.com and Oanda are not the only US retail brokers. Have you guys heard of ATC Brokers? It blows the 2 out of the water, hands down. The spreads are very competitive, can't even compare with forex.com and oanda. Commission is $0.80 per round trip per 0.01 lot for all pairs. The only slight disadvantages are that minimum deposit is $5000 and lowest trading amount is 0.05 lots. It's still not that bad. They are also regulated by the NFA and CFTC.
Thanks for putting the word out. I have never heard of them before, but I am definitely going to check them out. I currently trade through TD Ameritrade, but they are just as expensive as Forex.com, because they route their orders through Gain Capital, who is Forex.com's parent company. I pay a whole pip more per trade than what I would even pay with Oanda by trading with them at the moment.
  • #36
  • Jun 20, 2017 6:06pm Jun 20, 2017 6:06pm
Quoting trickshady
I just wanna let everybody know that FOREX.com and Oanda are not the only US retail brokers. Have you guys heard of ATC Brokers? It blows the 2 out of the water, hands down. The spreads are very competitive, can't even compare with forex.com and oanda. Commission is $0.80 per round trip per 0.01 lot for all pairs. The only slight disadvantages are that minimum deposit is $5000 and lowest trading amount is 0.05 lots. It's still not that bad. They are also regulated by the NFA and CFTC.
ATC was an IB for FXCM before filing for Chapter 11. No Thanks.

https://www.leaprate.com/news/fxcm-d...ate-exclusive/
  • #37
  • Jun 20, 2017 6:12pm Jun 20, 2017 6:12pm
Quoting pipmaster77
{quote} ATC was an IB for FXCM before filing for Chapter 11. No Thanks. https://www.leaprate.com/news/fxcm-d...ate-exclusive/
Whoa thanks for the heads up on that one! I'll pass too.
  • #38
  • Jun 21, 2017 7:48am Jun 21, 2017 7:48am
Oh wow I never knew that.
  • #39
  • Jul 4, 2017 5:47am Jul 4, 2017 5:47am
Quoting jraimundidd
Thanks and I am afraid you are right they appear to be the only game in town because of the stupid regulations. I am also checking out Tradersway.con out of Dominic. They take USA accounts but My spider sense is a little uncertain. I am still looking closed my account with FXCM and having my funds transfer to my business account. Stay in touch
Hi,

i would like to set up a business account with the FX brokers in US. However, the banks here refuse to open a business account for me because of the nature of my business has interest conflicts with them. I just read your post, it seems you have a business account with the broke. Can you please let me where I can open a business bank account in US? Thank you.
  • #40
  • Last Post: Jul 12, 2017 6:27pm Jul 12, 2017 6:27pm
Quoting jollypk
Ahh .. these US traders aren't that lucky as others for they have a lot of restrictions by their prevailing law to trade with offshore brokers and moreover many online brokers does not even accept traders from US. Better they should check any other alternatives to earn some good returns on their income.
Yes it is. That means they are unlucky that’s not right
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