Best broker for United States residents

I am a US citizen. I have been trading with some offshore brokers. While I was looking for a broker, this thread helped me a lot. http://forums.babypips.com/forex-bro...cape-cftc.html . Hope it’s useful for you too.

where have you been fxcm is banned from trading in the u.s.

Indeed they have and indeed they should have been. It was a glorious day when that Bucket Shop was booted from the United States. That fact that anyone anywhere would even think twice about making a deposit with that company no matter which continent they ran to, is mind blowing at minimum.

Basically in the USSA it comes down to just 2... Oanda for smaller accounts and Forex.com. I went with oanda.

forex.darren -- thanks! great info!

Yes agree with forex.darren this thread is pretty legit and is a got to thread for US brokers. very helpful indeed; they have updated the list lately adding new brokers like coinexx and evolve. their sweetheart on the thread through is Coinexx you guys can refer back to the thread for review on this broker. I have been testing them and they are living up to the claims. hope it helps

anytime! hope you could find your best broker from this list

yes, I know.. even I was so tempted to try coinexx after so much discussion about them.. and to be true they are worth it.. I have a live account with them now and it's going pretty smooth... at least till now. hope the same for you. keep posting your exp.

Sad state of affairs when there are fewer and fewer brokers in the USA. I have FXCM as a demo, because I am a creature of habit and have used them for a while, just said I was from different country to get the demo. Bad, I know. But I have also demoed with Oanda and like them. When I go live, I will use them as a broker.

Thanks to forex.darren for supplying the babypips link. Very helpful, and may eventually try those offshore brokers.

Everyone have a great weekend!

I am not from U.S,but are using Finpro for the low commision 2 dollars pr lot if you ask in chat its 4 dollar pr lot standard,but you get V.I.P status if you ask in chat and for scalping that is a lot of money saved instead of IC markets 7 dollar pr lot.....And spread on majors are 0.1-0.2....they are unregulated doo too the ESMA`s maximum leverage coming soo i have 400:1 leverage and have not experienced anyting negative abaut them and they take U.S clients...And they are not offshore they have their offices in London...You might need an IB refferal too get 2 dollars pr lot i am that and PM me if you are opening account with them....Its not for my own gain i say this,but i got a PM from one guy saying he needed my refferal too get the ultralow commision..

Thanks for the advice magne999. Finpro sounds like a very nice broker and in the future I may try them. I just deposited some money to my live Oanda account, so I am gonna try them out for the immediate future. But if I decide to try Finpro, I most definitely will PM you. Have a good week in pipping!!!!

Then you have too live with 50:1 maximum leverage.....have a good trading week you too...Keep it green

I am also curious about this topic. I recently opened an account with Oanda to trade Forex and I am very happy with them. But I want to trade Oil and Metals and it seems every broker bans US customers. And I want toi starti with small balances.

Any suggestions where I can trade Oil/Metals as a US citizen?

Thanks

You'd have to trade Futures or either ETF's / Options on ETFs ... CFD's aren't allowed in the US

Are there ANY TRUE ECN, DMA STP brokers for US citizens? Been searching for days, cant find ANY. Only Oanda, Forex.xom and ThinkorSwim; but I believe these are market makers. Anyone have any knowledge?

I am in the U.S, new to FX, and am in the process of testing 3 different brokers available to me. I am using a demo account to test out the Forex.com web trading platform, as well as Oanda's desktop and web platforms. I also have a real money account with TD Ameritrade's ThinkorSwim trading platform that now offers forex trading. I already had a Ameritrade account prior to getting into the forex market, hence why my account status with them is more than just a demo.

This is my take on each trading platform so far. This is not an official review, but just my initial impressions after exploring each one over the course of the past week or so:

Overall the ThinkorSwim platform is my favorite of the three choices. The only negative I see is that it lacks the capability of implementing of EA bots - or Expert Advisers to execute trade strategies for you. Currently I do not know how to program however, so this is not an issue for me in the short-term. It is something I would like to do in the future and hope that the ThinkorSwim platform will add it by the time I learn how to code.

Oanda or Oanda.com's platform does offer integration with MT4/MT5 as well as quantconnect, which gives traders the capability to code EAs to execute their strategies for them. Oanda's desktop platform is very simple compared to thinkorswim. The software looks like it could run on a windows 98 PC, but functions smoothly. There doesn't appear to be any clear advantages to using the desktop software versus their web interface, but they do offer each depending on the trader's preference. Oanda's "Advanced Charting" is taken from tradingview.com's site, which has become one of my favorite charting tools due to its simplicity and easy to use design. Anyone that can use MS Paint can do advanced charting and technical analysis on tradingview.com.

What Oanda lacks and does worse than the other two options is good customer service. When using forex.com or thinkorswim, if I had a question or problem that I needed resolved, there was a live support agent that was available to help me 24/7. They understood my questions and were able to answer me clearly. Oanda's live support on the other hand is just a bot that pretends to be "chatting" with you, to extract information, that is later emailed to a support agent that will respond to you via email at a later date. Lack of customer service may be the single biggest reason I avoid Oanda, though I have not made any decision yet.

Forex.com offers what Oanda offers without the desktop trading platform, but good customer service in its place (as mentioned above). You can still use MT4 with forex.com and their web-based trading platform is very user friendly. The look of their site is very clean and simple to use. Forex.com also leans on tradingview for their charting interface, which again is one of my favorite charting tools to use. Though it is a little less robust than Oanda, in the sense there is no integration with quantconnect and some other features, I still would prefer this Forex.com to Oanda due to its simplicity and ease of use.

The spread and fees on trades all seem to be comparable between each service but when I do an actual review I will have to consider that in my analysis. My initial impression is that it is not worth leaving or transferring money away from TD Ameritrade until after I learn to code. Coding and the use of bots is the biggest advantage the other two services have in contrast to thinkorswim. Further, thinkorswim allows me to trade in other markets such as the U.S. stock exchange, which is how I got grandfathered into a real money account with them in the first place.

I hope this helps. I would be interested to hear what everyone elses thoughts are.

I'm just learning currency trading in the US. Wondering how you guys are profiting if using OANDA when their spread EUR/USD ~2.2 GBP/USD ~ 6. At least these are the rates posted on Tuesday 5:49 pm