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What Offshore Brokers Accepting US Accts? 29 replies

US Citizens, CFTC, and foreign brokers 1 reply

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Speak Out Against Proposed CFTC Leverage Change to 10-1 for all US Brokers. 26 replies

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Offshore Brokers... Solution to CFTC

  • #21
  • Oct 14, 2010 5:13pm Oct 14, 2010 5:13pm
Quoting lavatrader
Our government don't want us to lose.
Don't want to lose what??? Our poverty???
  • #22
  • Oct 15, 2010 12:47am Oct 15, 2010 12:47am
Quoting FXSurfer
Thanks for the list and info.
You're welcome. I should have also mentioned that these brokers are the ones offered by this introducing broker. There should be more.
  • #23
  • Oct 15, 2010 2:37am Oct 15, 2010 2:37am
http://www.trade2win.com/boards/fore...ail-forex.html

this guy is pretty much on point. this is my route. i would want to be protected under an entity anyways. do this an viola, no more whining about the CFTC. get yourself there.
  • #24
  • Oct 15, 2010 6:46am Oct 15, 2010 6:46am
Hello, im posting a list of brokers that will and will not accept US accounts. This is through research ive done from around the web and via personal emails to brokers:

Brokers who will continue to accept new U.S. clients

Tadawul FX (Cyprus / Switzerland)

AAA FX (Greece)

Dukascopy (Switzerland)

MIG (Switzerland)

ACM (Switzerland)

Saxo Bank (Denmark)

Forex FS (Australia)

IG Markets (Australia)

Forex CT (Australia)

WSD (New Zealand)

FBS (Mauritius)

FX Open (Mauritius)

FX Company (Mauritius)

forex-metal (Panama)

Marketiva (British Virgin Islands)

Forex Place - 4xP (British Virgin Islands)

FXCBS (British Virgin Islands)

Insta Forex (Russia)

Lite Forex (Seychelles)

Brokers who will not accept new U.S. clients:

C.I.M. Banque (Switzerland) --- U.S. clients must travel to Switzerland to open accounts

Finexo (Germany)

Varengold (Germany)

Nord Markets (Sweden)

CMS Forex (UK)

Activ Trades (UK)

Alpari (UK)

Finotec (UK)

MF Global (UK)

ODL Markets (UK)

GO Markets (Australia)

Axi Trader (Australia)

IBFX (Australia)

Latitude FX (New Zealand)

Forex Yard (Cyprus)

 Fx Pro (Cyprus or Jordan?)

 Ava FX (British Virgin Islands)
I repeat that for this list the info I got it from around the web and for some through personal research
  • #25
  • Oct 15, 2010 12:16pm Oct 15, 2010 12:16pm
Quoting nlforex
Hello, im posting a list of brokers that will and will not accept US accounts. This is through research ive done from around the web and via personal emails to brokers:

Brokers who will continue to accept new U.S. clients
[indent]Tadawul FX (Cyprus / Switzerland)

AAA FX (Greece)

Dukascopy (Switzerland)

MIG (Switzerland)

ACM (Switzerland)

Saxo Bank (Denmark)

Forex FS (Australia)

IG Markets (Australia)

Forex CT (Australia)

WSD (New Zealand)

FBS (Mauritius)

FX Open (Mauritius)

FX...
Thanks for the List. I was doing the same research
  • #26
  • Oct 15, 2010 12:56pm Oct 15, 2010 12:56pm
Quoting nlforex
Hello, im posting a list of brokers that will and will not accept US accounts. This is through research ive done from around the web and via personal emails to brokers:

Brokers who will continue to accept new U.S. clients
[indent]Tadawul FX (Cyprus / Switzerland)

AAA FX (Greece)

Dukascopy (Switzerland)

MIG (Switzerland)

ACM (Switzerland)

Saxo Bank (Denmark)

Forex FS (Australia)

IG Markets (Australia)

Forex CT (Australia)

WSD (New Zealand)

FBS (Mauritius)

FX Open (Mauritius)

FX Company (Mauritius)...
First, let's be clear who is a broker and who is not. MIG, Dukas, etc are banks and there is a world of difference.

The new leverage requirements of 1:50 applies to most brokers but doesn't apply to banks as of now.

Alongwith knowing the brokers that will accept US clients, we need to know the leverage being offered and I won't be surprised if most of them are 1:50 as imposed by the CFTC. This is because of MOUs that most regulatory authrorities around the world have with the CFTC.
  • #27
  • Oct 15, 2010 2:43pm Oct 15, 2010 2:43pm
The information on the MIG sighting is incorrect.

I had contact with a MIG at 12'Oclock the other day while on patrol. He was doing about 500 kts on a reciprocal heading. He didn't see me, so I turned in behind him and line-up on his 6'Oclock. From a range of about one half mile, I sent him a message. His response was that indeed the MIGs are still taking U.S. Pilots.

So, I thanked him, "Banked" hard right and bugged out, on the deck at mach 2.

MIG Bank still accepts U.S. Traders as of October 14th. They tell me that while they were still waiting for official clarification from their Attorney's about exactly how U.S. operations will work, that they felt confident they would sill be offering unchanged services to U.S. traders.

So, I'd say you can put that one in the Yes column.
  • #28
  • Oct 15, 2010 3:08pm Oct 15, 2010 3:08pm
Quoting WaveTop
The information on the MIG sighting is incorrect.

I had contact with a MIG at 12'Oclock the other day while on patrol....
Roger that.

  • #29
  • Oct 15, 2010 3:11pm Oct 15, 2010 3:11pm
Also accepting U.S. traders at my last check:

DCFX, Divisa Capital, Auckland, New Zealand.
In-House Developed DCA Currenex HUB.
Currenex Viking client.
Currenex Classic client.
Fix 4.2 API compliant.
MT4/Currenex Bridge client - all New Offering.

I've always like the concept behind this company and the fact that they are technology driven - they understand technology, which is important to the trader in the long-run. It also explains their new MT4 offering that connects the trader directly to their existing Currenex HUB liquidity. That is an outstanding combination, IMO.

Of, course, do your own homework. I do not trade with DCFX and I do not get paid to make them look good. But, at least they are NOT offering an FXCM front-end.


CIM Bank, of Switzerland.

At first glance, I thought it might be a match made in heaven. But, upon closer inspection, I found that they use a White Labeled version of FXCM, and that I simply cannot abide. It is almost like FXCM is spreading like an infestation - a virus you can't get rid of. FXCM, is a Bucket Shop, pure and simple and I won't trade in a Bucket. They are also very unethical, in my personal experience - so I won't trade with unethical companies, knowingly.

Entities like CIM Bank and Deutschebank FX, all had enough development capital to fire-up their own product offerings without having to climb into the same sleazy bed with FXCM. Those kinds of business decisions, when FXCM is such a known quantity among traders, are the kinds of business decisions that I simply do not understand. Yes, it is more expedient to getting yourself into the Retail space, by going with an existing framework like FXCM. However, both CIM Bank and Deutschebank FX, could have very easily gone with the MT4 platform, Ninja platform, or a reconfigured for Retail FXall platform (would have been very nice) - or anything just about, other than FXCM.

So, while I like CIM Bank an DBFX, I don't much appreciate the decisions they've made. Now, DBFX does offer MT4. However, you are essentially charged $1.50 per trade and there is a one-time "MT4 Account Set-Up Fee" - all due to the fact that they don't even host MT4! They offer you MT4 through a Boston Technologies Bridge, coming off of their server farm. But, so does Barclays Bank, UBS, Bank of America, etc. They all use the same Boston Tech. Bridge technology, for giving their traders access to their liquidity pools.
  • #30
  • Oct 15, 2010 3:43pm Oct 15, 2010 3:43pm
What kind of cheesy backwoods broker doesn't even have their account application on a secure server? Are these idiots for real?
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  • #31
  • Oct 15, 2010 4:14pm Oct 15, 2010 4:14pm
Quoting WaveTop
Also accepting U.S. traders at my last check:

DCFX, Divisa Capital, Auckland, New Zealand....
Bye, bye.
  • #32
  • Oct 15, 2010 4:24pm Oct 15, 2010 4:24pm
Quoting FXSurfer
Bye, bye.
lol... I knew something wasn't right with this guy.
  • #33
  • Oct 15, 2010 7:20pm Oct 15, 2010 7:20pm
Quoting Slack
What kind of cheesy backwoods broker doesn't even have their account application on a secure server? Are these idiots for real?
So, just to correct, or rather clarify, looks like these guys are for real. Their website security is still a big issue. And, although Currenex lists them as a White Label provider, it looks like they are effectively just a pseudo IB.

Additionally, Currenex, owned by State Street, is about as "Wall Street" as you can get since they are publicly traded, so I'm sure Frank-Dodd will impact them as well as their Prime Brokers/White Label providers.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: currenex white label.jpg Size: 62 KB
  • #34
  • Oct 16, 2010 8:04am Oct 16, 2010 8:04am
Quoting lavatrader
But they will not be able to by July 2011. No retail forex accounts from US will be open overseas. This is what I have heard..

I think that all US traders should start getting to use to 50:1 leverage. Our government don't want us to lose.

Cheers
And 50:1 is a guarantee no-loss?

ROFLMAO, laughing, laughing, laughing.... oh please stop it!
  • #35
  • Oct 18, 2010 12:22am Oct 18, 2010 12:22am
Quoting lavatrader
But they will not be able to by July 2011. No retail forex accounts from US will be open overseas. This is what I have heard..

I think that all US traders should start getting to use to 50:1 leverage. Our government don't want us to lose.

Cheers
Our government doesn't want us to lose? Oh they care sooooo much for us. Get out of dreamland. If they cared about us they would protect and insure our accounts and help protect us against dishonest brokers and regulate the education gurus so we dont' get ripped off with bogus forex training. They want forex in the US to disappear so money will go back into the stock markets. 50:1 is just the beginning. Next will be 10:1. Lower leverage only gives traders more opportunity to lose - as in more traders will now get margined out - basket style trading will be a disaster. Lowering the leverage doesn't magically make your system better - your statement makes zero sense.
  • #36
  • Oct 19, 2010 5:29am Oct 19, 2010 5:29am
Because someone mentioned the leverage I need to clear this:

In the list I posted, all brokers offer leverage of min 200:1, I dont remember by heart the leverage of each broker, but its min 200:1 and max 500:1.

You have to understand that its a lot of politics behind the NFA decision. Mainly guided by the CFD and futures/metals brokers in Chicago (where NFA is based). With these brokers you have a max of 50:1 in most cases and 10:1 in others, so it is logical for everyone to turn to forex where leverage was 100:1. The rest is easy to guess, as the CFD, futures, stocks lobby in Chicago is rather strong and with great influence to higher levels of the US government.
I hope this clears out some things
  • #37
  • Oct 19, 2010 7:03am Oct 19, 2010 7:03am
Quoting Pipvalhalla
They want forex in the US to disappear so money will go back into the stock markets.
Except they did the same stuff there. They don't want to go back to the days of the E-Trade superbowl and volatility.

If we're going to talk NFA and Chicago, let's have someone follow the trail to the top and see where it goes. On that coincidence.
  • #38
  • Oct 19, 2010 8:11am Oct 19, 2010 8:11am
Quoting techno79
Except they did the same stuff there. They don't want to go back to the days of the E-Trade superbowl and volatility.

If we're going to talk NFA and Chicago, let's have someone follow the trail to the top and see where it goes. On that coincidence.

yeah should be easy to find... just look for the trail of easy money left behind.

Somebody is sleeping with somebody and they obviously aren't doing it because of "good looks". Just goes to show you the lengths some will go to get a "leg up".
  • #39
  • Oct 19, 2010 3:57pm Oct 19, 2010 3:57pm
Is any of this even legal according to the Constitution? How can the Gov. tell us which brokers we can use? Next they'll try to tell us we can't purchase a BMW, Mercedes or Lexus. What if the only cars you could buy were Ford or Chevy?

I just find this all a little disconcerting , we lose a small bit of freedom everyday. I feel a good class action lawsuit coming, who's with me?
  • #40
  • Oct 19, 2010 4:02pm Oct 19, 2010 4:02pm
Thanx for the great info guys! Out of these brokers can any list concerns they may have about each broker or past experiances? Because once you know they accept u.s. clients then the next question is???

Slippage?
How long does it take to get your money when requested?
Scalping allowed?
EA's?
Spread wideing?

All these are very important questions when finding a new broker...
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