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Looking for a broker for USA traders

  • #21
  • Aug 8, 2010 9:32am Aug 8, 2010 9:32am
Well I have a small account with EXNESS.com and am actually more pleased with them then with the MBT MT4 account I trade mostly... And Exness is all fast and easy to setup... deposits and withdrawals are automatic too with only minutes before you have your money... Low spreads, and Very high leverage too, if you're into that sort of thing but usually that only means it takes a lot less time to blow your account... Of course, they are Russia based so whatever, but Ive had good luck with them, aside from occasional liquidity issues.
  • #22
  • Aug 9, 2010 5:17am Aug 9, 2010 5:17am
Quoting dbeach777
Well I have a small account with EXNESS.com and am actually more pleased with them then with the MBT MT4 account I trade mostly... And Exness is all fast and easy to setup... deposits and withdrawals are automatic too with only minutes before you have your money... Low spreads, and Very high leverage too, if you're into that sort of thing but usually that only means it takes a lot less time to blow your account... Of course, they are Russia based so whatever, but Ive had good luck with them, aside from occasional liquidity issues.
Well, I wouldn't compare MBT to exness, but this is just my humble opinion.
  • #23
  • Aug 15, 2010 6:16pm Aug 15, 2010 6:16pm
Quoting ecTrade
IG Markets looks promising. Their customer service is great, and they even allow you to hedge. The only drawback that I can see so far (I just opened an account) is they don't use MT4 platform.
They don't use the MT4 platform. One of the plus points, with IG, is that, as a new client, they allow you bet as low as 10p per pt. This is very useful if you want to utilise a martingale type strategy..
  • #24
  • Aug 17, 2010 9:09am Aug 17, 2010 9:09am
fxopen allows anyone.
  • #25
  • Aug 17, 2010 9:10am Aug 17, 2010 9:10am
Quoting ecTrade
IG Markets looks promising. Their customer service is great, and they even allow you to hedge. The only drawback that I can see so far (I just opened an account) is they don't use MT4 platform.
major drawback.
  • #26
  • Aug 17, 2010 9:10am Aug 17, 2010 9:10am
Quoting qwertymyfx
fxopen allows anyone.
Right. But not everyone allows fxopen
  • #27
  • Aug 17, 2010 9:59am Aug 17, 2010 9:59am
Quoting Acrita
Right. But not everyone allows fxopen
what's that supposed to mean?

fxopen are well cool man.
Enter Signature
  • #28
  • Aug 17, 2010 10:21am Aug 17, 2010 10:21am
Quoting qwertymyfx
Quoting ecTrade
IG Markets looks promising. Their customer service is great, and they even allow you to hedge. The only drawback that I can see so far (I just opened an account) is they don't use MT4 platform.
major drawback.
Well, they do have their advanced charting package, where supposedly you can create your own EA type programs. I haven't looked into that yet though.
  • #29
  • Aug 20, 2010 1:24am Aug 20, 2010 1:24am
So, do these guys actually allow hedging like they claim? I tried opening a Buy position the day before yesterday at the same time I had a Sell open, and all it did was closeout the Sell position and I had to take a loss.

So I sent them an email saying it was uncool and would they please explain how to go about hedging. Instead, they thought it was far too important that they should call me by phone, which I didn't answer, and they still haven't replied to my email. Is it really all that complicated?

When using the MT4 platform, it's a simple matter of opening a Buy and Sell at the same time but, apparently it's a bit different with these guys. Anyone else have any dealings with them, or their platform?
  • #30
  • Aug 21, 2010 1:21am Aug 21, 2010 1:21am
IG do allow hedging. It's just a matter of ticking the "Force Open" option in the Trade or Tear Off ticket. Hope this helps
  • #31
  • Aug 21, 2010 2:25am Aug 21, 2010 2:25am
A. Try trading without MT4- it is a horrible platform for scalping.
B. Alpari does have a US office and ALPARI US - so you did not look hard enough at them
C. Any Deal Desk Market Maker MT4 account is not going to be good for scalping period. THey say they allow it, then use tactics to slow your trades as one, so that the 2 or 5 pips you are scalping for turns into -1
D. If you really want to scalp find an ECN or NDD dealer.
E. You need to trade Micro lots so add that to your list. 500 is not enough to trade minis. So perhaps FXCM micro. Or MBT trading i think is 500 minimum to open- they are an ECN. But I would not recommend trading minis with $500.
Nor will they.

EDIT: also why do you want to scalp any way? From your post it seems you are a new trader, some people think scalping is "easy"
and that the ForeX market just sits there waiting for "one" to open an account, make a few quick simple trades, get rich and that;s all.

Well let me tell you now, to be a successful scalper is not easy. Unless you are trading bigger lots, there is no point in scalping as a newbie.
You will lose all your money quickly. You may have a few good trades, then the entries will come where you up the ante, and "the trade doesn't go the way you thought it would" and boom all your profit is gone from the other 10 scalps that netted you 25 pips in one bad trade.

Just my advice. Learn the higher TF charts first.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #32
  • Aug 21, 2010 12:26pm Aug 21, 2010 12:26pm
Quoting Alan5616
IG do allow hedging. It's just a matter of ticking the "Force Open" option in the Trade or Tear Off ticket. Hope this helps
Hey, thanks. Will give it a try.
  • #33
  • Sep 7, 2010 2:55am Sep 7, 2010 2:55am
Alot of people saying that MB trading is great and this and that.i have used them on demo account.
its very very bad experiance,disconnecting all the time plus or broker busy and so on.i dont know which kind of ECN broker is that?
so i dont recommend them at all.
still Alpari UK is the best for any kind of trading you want.
  • #34
  • Sep 7, 2010 2:59am Sep 7, 2010 2:59am
Mb trading is the worst horrible broker i ever seen.all the time disconnecting,broker busy and all those kind of BS.
its very bad we can not find a good broker in US.

Quoting XTrade
A. Try trading without MT4- it is a horrible platform for scalping.
B. Alpari does have a US office and ALPARI US - so you did not look hard enough at them
C. Any Deal Desk Market Maker MT4 account is not going to be good for scalping period. THey say they allow it, then use tactics to slow your trades as one, so that the 2 or 5 pips you are scalping for turns into -1
D. If you really want to scalp find an ECN or NDD dealer.
E. You need to trade Micro lots so add that to your list. 500 is not enough to trade minis. So perhaps FXCM micro. Or MBT...
  • #35
  • Sep 7, 2010 4:44am Sep 7, 2010 4:44am
Try oanda, I have good luck with them, some here don't tho.
  • #36
  • Sep 7, 2010 9:06am Sep 7, 2010 9:06am
Quoting fredgold3434
Alot of people saying that MB trading is great and this and that.i have used them on demo account.
its very very bad experiance,disconnecting all the time plus or broker busy and so on.i dont know which kind of ECN broker is that?
so i dont recommend them at all.
still Alpari UK is the best for any kind of trading you want.
Just to be clear...MB Trading's DEMO MT4 has many disconnect problems. However, their live MT4 works flawlessly and their own platform (Nav/Desktop) is even better. They are the ideal ECN broker in the US and you'll have no problems once you trade Live with them.
FXChant Singing the World of Forex
  • #37
  • Sep 17, 2010 10:57pm Sep 17, 2010 10:57pm
Hey Fred,

If you're still on the look out, you may want to check out fxclub.com. The only thing you may not like about them is that they don't have an MT4 platform.

Quoting fredgold3434
1-Have MT4 platform
They have a platform called ACT, which is basically a prettied-up version of the MT series, except I believe ACT has server-based orders instead of computer based.
Quoting fredgold3434
2-low spread for scalping
I trade about two lots per week and the spreads I get on my pairs (EUR/GBP and EUR/USD) range from 0.6 to 1.5 pips- no liquidity or execution complaints.
Quoting fredgold3434
3-it does not require more than $500 to open a live account.
I'm not too sure about this one... but if you're planning on trading with $500 you might as well stay on a demo.
Quoting fredgold3434
4-easy and low cost deposit and withraw.
Recently when I've been depositing with my credit cards, I haven't been charged processing fees, which is great because I used to get hit up for 2% of my deposits.
Quoting fredgold3434
5-Allow USA traders
6-trustful,reliable one who does not run away tomorrow.
Both of those, I really haven't had any issues with them.
  • #38
  • Sep 17, 2010 11:00pm Sep 17, 2010 11:00pm
Quoting Mr Smith
Try oanda, I have good luck with them, some here don't tho.
I have an account with Oanda, as well. Their spreads are hands-down the best- nobody can beat them. I only wish their platform had better usability.
  • #39
  • Sep 21, 2010 3:21am Sep 21, 2010 3:21am
I use www.gotmoneyfx.com.au
1. yes MT4
2. spreads pretty good and scalping is fine
3. open an account with $100
4. free deposits and withdrawals
5. allows USD clients
6. regulated by ASIC with seg accounts....

Quoting fredgold3434
I am searching few months for a good broker that USA traders can use without any problem.but i can not find anything that cover my points below.
1-Have MT4 platform
2-low spread for scalping
3-it does not require more than $500 to open a live account.
4-easy and low cost deposit and withraw.
5-Allow USA traders
6-trustful,reliable one who does not run away tomorrow.

so far all i found is Alpari UK which does not allow usa traders.i thought maybe somebody there out can help me.
  • #40
  • Sep 22, 2010 9:56am Sep 22, 2010 9:56am
Quoting gutrader
I use www.gotmoneyfx.com.au
1. yes MT4
2. spreads pretty good and scalping is fine
3. open an account with $100
4. free deposits and withdrawals
5. allows USD clients
6. regulated by ASIC with seg accounts....
2. I looked at their demo the spreads are terrible!
6. don't have their own license are a corporate rep, corp goes down see you later Got Money.
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