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I am too young for MBTrading. What alternatives do I have?

  • #1
  • First Post: Feb 25, 2010 3:23pm Feb 25, 2010 3:23pm
Hello,
my name is Philipp, I'm 18 years old, I come from Germany and I am looking for a true ECN-broker.

Actually I wanted to go live with MB-Trading, but when I wanted to open an account with them, they replied "You must be at least 21 years old."

Therefore I am looking for alternatives. (Doing another three years of demotrading isn't one.) A "copy" of MBTrading without this minimum-age-regulation would be very nice and the minimumdeposit can also be a bit higher (1-1.5k USD).

Please excuse my poor English-skills
  • #2
  • Feb 25, 2010 4:08pm Feb 25, 2010 4:08pm
We're sorry but you're too young to get answers from someone of this forum.

Come back when you are 21.

Bye!
Forex is a losers game.
  • #3
  • Feb 25, 2010 5:07pm Feb 25, 2010 5:07pm
Quoting Hi mum!
Hello,
my name is Philipp, I'm 18 years old, I come from Germany and I am looking for a true ECN-broker.

Actually I wanted to go live with MB-Trading, but when I wanted to open an account with them, they replied "You must be at least 21 years old."

Therefore I am looking for alternatives. (Doing another three years of demotrading isn't one.) A "copy" of MBTrading without this minimum-age-regulation would be very nice and the minimumdeposit can also be a bit higher (1-1.5k USD).

Please excuse my poor English-skills
That silence you hear is the world telling you that there is no option equal to MB Trading.
  • #4
  • Feb 25, 2010 5:46pm Feb 25, 2010 5:46pm
Quoting Hi mum!
Hello,
my name is Philipp, I'm 18 years old, I come from Germany and I am looking for a true ECN-broker.

Actually I wanted to go live with MB-Trading, but when I wanted to open an account with them, they replied "You must be at least 21 years old."

Therefore I am looking for alternatives. (Doing another three years of demotrading isn't one.) A "copy" of MBTrading without this minimum-age-regulation would be very nice and the minimumdeposit can also be a bit higher (1-1.5k USD).

Please excuse my poor English-skills
Why don't you open an account in one of your parents name and then you can trade it?
  • #5
  • Feb 25, 2010 6:05pm Feb 25, 2010 6:05pm
Du könntest es bei Oanda versuchen, wenn du nicht unbedingt MT4 brauchst.
Bevor du es irgendwelchen dubiosen Ostblock Brokern landest. Oder du läufst bei euch in Hamburg bei der Varengold Wertpapierhandelsbank AG vorbei die bieten dir sogar Euro Konten.
  • #6
  • Feb 25, 2010 6:55pm Feb 25, 2010 6:55pm
Open a business - LLC (Limited Liability Company) or something similar and lie like hell. (It's the American way). Oh, wait, you're from Germany,,, maybe open an IBC (International Business Company) in Panama or Belize.
  • #7
  • Feb 28, 2010 1:02am Feb 28, 2010 1:02am
There are various options. AC-Markets, dukascopy, fxopen mt4 ecn.

Its up to you. MB Trading aren't something special, but are amongst the best. Theres a bunch of brokers to choose from.

But if I am not mistaken, 18 is the age minimum by NFA brokers. Perhaps if you are keen on mbtrading, you speak to someone high in their food chain to see if you can get permission. Providing a track record may help also. I think its a competency issue
  • #8
  • Feb 28, 2010 5:13am Feb 28, 2010 5:13am
@ TJLPD
Varengold sounds good and their office is just 50km away from my house.
Do you happen to know their minimum deposit? Min.deposit for institunals is 250k and for private investors?
(Falls du dich fragst, warum ich dir auf Englisch antworte: Der letzte Post war zu über 50% auf Deutsch und wurde wahrscheinlich deswegen nicht freigeschaltet.)

@ Takisd
Thank you for the reply.
Dukascopy's minimum deposit (5k $) is too much for an average student like me. ACM has got a lower min.deposit but their spreads made me just
FXOpen ECN-account seems to be quite good, although there are a lot of bad reviews about their DD-accounts.
  • #9
  • Mar 1, 2010 10:54am Mar 1, 2010 10:54am
Quoting Hi mum!
@ TJLPD
Varengold sounds good and their office is just 50km away from my house.
Do you happen to know their minimum deposit? Min.deposit for institunals is 250k and for private investors?
(Falls du dich fragst, warum ich dir auf Englisch antworte: Der letzte Post war zu über 50% auf Deutsch und wurde wahrscheinlich deswegen nicht freigeschaltet.)

@ Takisd
Thank you for the reply.
Dukascopy's minimum deposit (5k $) is too much for an average student like me. ACM has got a lower min.deposit but their spreads made me just
FXOpen ECN-account...
I don't think that they have a min. deposit but since your smallest position size is 1 micro lot it doesn't make much sense to start with 400 Euros. Atleast if you want to trade Higher Timeframes with bigger stops.
They also send your beloved Abgeltungssteuer diretcly to Mr. Schäuble each Month. As a student you should take care of this because your private tax rate is much lower than 25% so you'll get some money back from good old Wolfgang.
  • #10
  • Mar 2, 2010 8:35am Mar 2, 2010 8:35am
Quote
I don't think that they have a min. deposit
I was thinking that, too. Therefore I wrote them an e-mail and they answered, their minimum deposit is 2500€ for private investors.

Ah yes, the Abgeltungssteuer. I'm really looking forward to paying taxes (since I will -hopefully- make more than 7xxx €/year) - especially after having a look into the Schwarzbuch of the Bund der Steuerzahler

BTT: I think, I'll try FXOpen's ECN platform.

Thank you for helping
  • #11
  • Mar 2, 2010 12:34pm Mar 2, 2010 12:34pm
Hi, I'm playin with Admiral Markets for now, it's a market maker but I play with small lots so I feel safe. When I will earn big money I will definitely change my broker to ECN, I found some articles that can be usefull for you too http://pipswanted.com/Tags/ecn
  • #12
  • Last Post: Mar 2, 2010 1:43pm Mar 2, 2010 1:43pm
Hi local,
thank you for the articles, although they contained nothing I did not yet know.

May I ask you, how small your lots are? Micro? Mini?
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