wasn't able to open account with alpari uk living in us | Forex Factory

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wasn't able to open account with alpari uk living in us

  • #1
  • First Post: Feb 9, 2010 3:46pm Feb 9, 2010 3:46pm
Does anyone in US has experience to open a micro account with an European broker?

I tried to do that with Alpari UK but they refused my application, saying they cant offer accounts to US residents unless you are an eligible participant, and give me this link to explain what is a eligible participant.
  • #2
  • Feb 9, 2010 9:15pm Feb 9, 2010 9:15pm
Unfortunaley, this is going to be an increasing problem. I'm sure the CFTC has requirements for any overseas broker who also has / will have a US presence.
Long term solution is to save a much money as possible in order keep a US account at an acceptable trading size. This will force us most of us to treat Forex as business and reinvest the profits for a first few years till the business is profitable as to start paying back with a "salary."
  • #3
  • Feb 10, 2010 6:35am Feb 10, 2010 6:35am
Quoting adam2eden
Does anyone in US has experience to open a micro account with an European broker?

I tried to do that with Alpari UK but they refused my application, saying they cant offer accounts to US residents unless you are an eligible participant, and give me this link to explain what is a eligible participant.
Try ATC Brokers. They provide MT4 through FXCM-UK. It's ok if you're a US resident (I am and have a live account there). They used to be through FXCM-US, but went to UK when all the FIFO, hedging stuff came about. We just had to sign a document, and then we were with the UK branch. Can hedge, etc...

BUT minimum trade size is a minilot ($10K size); can't go as small as micro, so not sure if that helps...
  • #4
  • Feb 10, 2010 1:30pm Feb 10, 2010 1:30pm
Apparently, Dukascopy is offering micro lots. You can open an account with 5k USD. I'm currently looking into them.
  • #5
  • Feb 10, 2010 2:18pm Feb 10, 2010 2:18pm
Quoting TC East
Try ATC Brokers. They provide MT4 through FXCM-UK. It's ok if you're a US resident (I am and have a live account there). They used to be through FXCM-US, but went to UK when all the FIFO, hedging stuff came about. We just had to sign a document, and then we were with the UK branch. Can hedge, etc...

BUT minimum trade size is a minilot ($10K size); can't go as small as micro, so not sure if that helps...

Is ATC ECN or MM or NDD? Are you happy with them?
  • #6
  • Last Post: Feb 10, 2010 3:49pm Feb 10, 2010 3:49pm
Quoting ForeverForex
Is ATC ECN or MM or NDD? Are you happy with them?
They use FXCM "no dealing desk" ECN pricing. Are they a "true" ECN, etc.? I don't really know, but don't care either as they definitley aren't a bucketshop. GU spread usually 1.2 pips about, which is my main pair.

Also, commission is $8 round turn/100K size regardless of pair traded. That makes a HUGE difference with GBP pairs, but is a slight detriment with AUD & NZD pairs.

Yes, I'm happy with them. ATC guys very honest and professional. They have their own tech support staff for the MT4, seperate from FXCM. If I have any issues, I just go through ATC and rarely have to even talk with FXCM.

Have been some technical issues from time to time (losing connection for ex), but it's gotten better, and overall I'm still happy there...
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