Which non-US broker is the best at the moment?

why are you saing this? i'm tryng to open an account but two days and still no answ... did you open an accoun with them?

Hi Guys,

I too am in similar boat - shopping for a reliable Broker. FXPro has a great website what with their Formula one car etc. But shall thank someone who has actuallu dealt with them - how are they for withdrawal of profits ?

Thanks .
Vilas.

I have an account there. I wonder what makes you pronounce such loud statements... No, I understand every broker in the world has been claimed "scam" here,that is normal, but I'm just wondering what makes you think so?

Mommy told me F1 cars and withdrawals are not related in any way Ok, putting it simple - they withdraw profits so far without any problems. We shall live, we shall see.

Osiris FX should be on the list, if only for comparison.

Whats up? U promote them on every broker related thread on the forum. Are u their sales manager ?

I'd recommend UK FSA regulated UK brokers.

FSA is government regulatory body which is totally different from USA's NFA which is a private regulatory body.

The difference:
Government regulatory body looks after the welfare of the citizen; private regulatory body looks after the welfare of its members.

Thx BK, couldn't say it better

BTW, the same is valid for Australian regulatory body.

No need to trade in maroonland under mafia conditions

Hardly - the question was asked, I answered. Tends to happen a lot on forums.

In addition, in terms of UK Regulated brokers being somehow better, purely as a function of their regulated status, consider the following: If the broker has a dealing desk, he is operating a regulated activity and needs to be Licensed and Regulated accordingly. Which bit of that do you prefer - the bit where the broker actively trades against their customer or the fact that they're Regulated while doing it?

The second point on regulation is this: IF your broker offers a true Straight-through-processing model with Direct Market Access he does not take part in the purchase and sale process, merely providing the tools by which customers can make their own trades in the market. By operating in this way the UK FSA cannot provide Regulatory approval, because these activities fall outside every convenient box for them to place a regulated entity into, hence the Non-Investment-Products Code drawn up by the FSA and Bank of England to cover this eventuality and others.

So without a dealing desk there is only one aspect of a broker's business that becomes a regulated activity and that is the simple holding of client funds, which is of course the primary concern for all of us. People far overblow the protection implied by Regulation. In STP FX trading a broker is only regulated in terms of handling cash deposits, if he handles them at all, which means if a broker really is dishonest he can rip the hell out of clients in every other way he chooses, through the dealing desk, slippage, auto-rejection, re-pricing, excessive rollover charges, wiring fees etc etc etc.

Overall, yes an onshore regulated entity in general remains first choice, but not everyone wants to trade via the UK/US and if you don't, you have to look hard and find a broker that operates with integrity. Now, I found that broker which is why I posted my recommendations to help other people make up their minds. I won't mention them again as it clearly offends you, but I'm relating my experience and passing on my knowledge which is supposedly the point.

Thanks.

That is why they let the Bankers rob you blind ? FIFO is a great favour to robbers IMO (not IMHO).

Thanks, Acrita for the Helpful comment ! But Girl or Boy ? I don't know how to address you !

Cheers anyway. Say Hello to Mommy !

My Apologies, Burgerking. I misread your posting - kind on seeing what you want to see ! Sorry about that.
I agree with you - I have A/C opened with FSA regulated broker in UK.

Have a Profitable Day !

Was trying BTrader webbased platform today.
http://www.btrader.com/
The ennoying thing was, that you don't get a 1-click-order function. You always have to confirm your order within a confirmation pop up wndow.

Is there any webbased platform with 1-click-order function outside the US?

For me acm, they are about to become a Swiss bank, and they allow scalping and hedging that most brokers don’t

Boy

Sure, need more info about F1 cars, etc - feel free to contact me and my mommy anytime

I am using Icici banks (Icici direct) currency trading service. There charges are low but no Trading terminal.

I would stay with a well known broker, there will be more info about them on the net. Acm is good…and well regulated.

I have been trading for a while, and after finding a style which really suits my personality, I am now trading profitably. My style is not important to this thread except to say that I require 200:1 or greater. Recent changes now make it difficult for me to maintain the same level of performance.

The NFA recently added a new requirement, which restricts their members from offering greater than 100:1 leverage and which standardizes the calculation of margin among their members. No other country has done so, and if your style of trading necessitates greater than 100:1 leverage, it may seem like a good idea to open a trading account outside the US.

However, the US federal government also recently established a new law affecting US citizens who reside within the US--this law may make it very difficult to have a trading account or an investment account with a broker operating in a country outside the US. As an example, inquire with Alpari, UK or with the Swiss broker, Mandus Invest--the response you will receive is very interesting. Alpari, UK posts their requirements on their website.

You may even come to feel, as I do, that you are being held captive between the NFA and the US government. An ex-pat US citizen is less regulated in this area than is a US resident.

NFA's new regulation took effect December 1st, and it does 2 things. It standardizes Margin calculations so that all NFA member brokers are now required to calculate margin in the same way. Second, it establishes maximum leverage at 100:1.

I don't know yet what the new US law is that affects US citizens residing in the US, and I don't know how long it has been in affect. I have asked my accountant about it, but he pleads ignorance, stating that he attended a course which included the general application of the new law, but he has no other clients who are affected by it, so he could offer no help.

I have tried during December to trade under the new rules using 3 brokers, all of whom are reputable, and all of whom are either NFA members or are in the process of becoming an NFA member. My results during December, while good, are significantly less than what they had been previously. More importantly, the new NFA rules have had a very serious affect on my confidence.

If you have knowledge of the new US law affecting US citizens residing in the US and who wish to trade or invest in firms located outside the US, or if you work with an accountant who can advise me in this matter, I would appreciate your comments.

NFA is an association of broker/dealers, and they should do things for their members, not for traders. But, I had seen a comment that FSA is a governmental agency. Is that correct?

Are they more strict for broker/dealers or for traders or both? Do you know where i can find information on FSA regulations?