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Looking for a reputable USA broker

  • #1
  • First Post: May 23, 2011 8:58am May 23, 2011 8:58am
Please, this thread is for the USA only.

I am a USA citizen and have been using FXDD. I thought they were okay, then I came across this lawsuit that has been filed against them: http://forexmagnates.com/fxdd-slappe...-full-details/

As I understand it, USA citizens are not allowed to use foreign brokers, at least the legitimate ones.

So fellow USA citizens, who are the good USA brokers and who are the criminals?

Thanks!

Murph.
  • #2
  • May 23, 2011 9:29am May 23, 2011 9:29am
If I were US citizen I'd probably opted for CitiFXPro. You can't go wrong with investment bank regarding safety of your deposit
  • #3
  • May 23, 2011 9:35am May 23, 2011 9:35am
Quoting Tom81
If I were US citizen I'd probably opted for CitiFXPro. You can't go wrong with investment bank regarding safety of your deposit
Thanks for the very good suggestion, but I see they have a $10K minimum and I'm not quite at that level yet.
  • #4
  • May 23, 2011 10:17am May 23, 2011 10:17am
Quoting MurphyMan
Please, this thread is for the USA only.

I am a USA citizen and have been using FXDD. I thought they were okay, then I came across this lawsuit that has been filed against them: http://forexmagnates.com/fxdd-slappe...-full-details/

As I understand it, USA citizens are not allowed to use foreign brokers, at least the legitimate ones.

So fellow USA citizens, who are the good USA brokers and who are the criminals?

Thanks!

Murph.
As a us citizen you can obtain an offshore bank account. Then get somebody from lets say Botswana to provide you with a house rental lease agreement. This way you sidestep Dodd-Frank.
  • #5
  • Last Post: Jun 1, 2011 7:13pm Jun 1, 2011 7:13pm
I openned an account several months ago on strength of Forex Peace Army reviews. One advantage is that they will do an equivalent of a hedge with some sort of a back office bookkeeping entry, but officially abide by the US rules. So far good experience, but haven't tried any withdrawals yet.
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