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Need to find a decent US forex broker

  • #1
  • First Post: Dec 6, 2012 5:19am Dec 6, 2012 5:19am
GFT closed it's access to US traders so I need to find a decent US forex broker. Any advice appreciated.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #2
  • Dec 6, 2012 6:44am Dec 6, 2012 6:44am
Quoting england33
GFT closed it's access to US traders so I need to find a decent US forex broker. Any advice appreciated.
IBFX.COM
  • #3
  • Dec 6, 2012 8:27am Dec 6, 2012 8:27am
Quoting england33
GFT closed it's access to US traders so I need to find a decent US forex broker. Any advice appreciated.
You must be crazy enough asking such questions after +2000 posts on factory.
but OK I will name some -

www.tradestation.com
www.mbtrading.com
www.advancedmarketsfx.com
www.fastbrokers.com
www.citifxpro.com
www.interactivebrokers.com
www.tdameritrade.com

they are all really good believe me, just choose one and trade with the help of God.
all is eternal - this is good news for people who loves bad news
  • #4
  • Dec 6, 2012 9:55am Dec 6, 2012 9:55am
I am moving my funds to citifxpro probably as soon as next week. so far the best i have found doing some research
1.6 fixed spread on EUR/USD
NO commision
  • #5
  • Dec 6, 2012 10:01am Dec 6, 2012 10:01am
I wouldnt accept 1.6 pips on EUR/USD in this day and age, thats outright uncompetitive. The only upside i see with Citi is funds protection. Personally i would probably choose Interactive Brokers if i had to pick an american firm. Low transaction costs and and they have spic protection too, if im not mistaken.
  • #6
  • Edited 11:42am Dec 6, 2012 11:20am | Edited 11:42am
Quoting shrike
I wouldnt accept 1.6 pips on EUR/USD in this day and age, thats outright uncompetitive. The only upside i see with Citi is funds protection. Personally i would probably choose Interactive Brokers if i had to pick an american firm. Low transaction costs and and they have spic protection too, if im not mistaken.
I will try IB demo next week. might open an additional account with IB or oanda
thanks for your comment
  • #7
  • Dec 6, 2012 12:04pm Dec 6, 2012 12:04pm
www.oanda.com
  • #8
  • Dec 6, 2012 1:53pm Dec 6, 2012 1:53pm
Quoting shrike
I wouldnt accept 1.6 pips on EUR/USD in this day and age, thats outright uncompetitive. The only upside i see with Citi is funds protection. Personally i would probably choose Interactive Brokers if i had to pick an american firm. Low transaction costs and and they have spic protection too, if im not mistaken.
You are unfortunately mistaken. SPIC only covers stocks and stock option accounts. Forex and futures ARE NOT covered by SPIC. As a former PFGBest account holder I learned this the hard way; 30 cents on the dollar hard. Also "sweeping" excess margin funds daily out of futures account into a stock account WILL NOT be covered by SPIC either.
  • #9
  • Dec 6, 2012 3:31pm Dec 6, 2012 3:31pm
Quoting meshka
You must be crazy enough asking such questions after +2000 posts on factory.
but OK I will name some -

www.tradestation.com
www.mbtrading.com
www.advancedmarketsfx.com
www.fastbrokers.com
www.citifxpro.com
www.interactivebrokers.com
www.tdameritrade.com

they...
and you have traded with all of them?
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #10
  • Dec 6, 2012 3:39pm Dec 6, 2012 3:39pm
Quoting england33
and you have traded with all of them?
You just beat me to the post, LOL
On the poster's query, please review the other GST thread. It might make more sense to review brokers located out of US, given the current restrictions..
  • #11
  • Dec 6, 2012 5:55pm Dec 6, 2012 5:55pm
Quoting england33
GFT closed it's access to US traders so I need to find a decent US forex broker. Any advice appreciated.
The "decent" requirement is going to be a problem.


Kiddin... there are a few good ones. Your trading style might make it easier to narrow it down though. And is there any requirement for MT4 or another platform/tool?
FXGears.com
  • #12
  • Dec 6, 2012 6:28pm Dec 6, 2012 6:28pm
thanks for all the responses - I really appreciate that.

Sorry don't have time to thumb through threads like others have suggested, that's why I made a thread - I wasn't expecting GFT to close the doors - I lost money on my open trades thanks to them.

I think I'm going to go with IBFX. I liked what was said about Oanda but they have problems as far as easy access to a demo and I didn't like that. I still might go with them though because they have more funding options.

I heard there are offshore options but I don't know anything about them so I'll have to really do some research but I don't have time this month - who does in December lol.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #13
  • Dec 6, 2012 8:34pm Dec 6, 2012 8:34pm
Quoting england33
thanks for all the responses - I really appreciate that.

Sorry don't have time to thumb through threads like others have suggested, that's why I made a thread - I wasn't expecting GFT to close the doors - I lost money on my open trades thanks to them.

I think I'm going to go with IBFX. I liked what was said about Oanda but they have problems as far as easy access to a demo and I didn't like that. I still might go with them though because they have more funding options.

I heard there are offshore options but I don't know...
i am on the same boat. will withdraw all funds from gft. i am currently trying citifxpro demo. will set up oanda and ibfx demo tonight.
us brokers suck. which i could move out or trade ofshore like you said
  • #14
  • Dec 6, 2012 9:34pm Dec 6, 2012 9:34pm
Quoting Fx-gtg
i am on the same boat. will withdraw all funds from gft. i am currently trying citifxpro demo. will set up oanda and ibfx demo tonight.
us brokers suck. which i could move out or trade ofshore like you said
I'm still having trouble setting up an Oanda demo. I have it downloaded but there's no server. IBFX is working.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #15
  • Dec 6, 2012 9:41pm Dec 6, 2012 9:41pm
Quoting england33
I'm still having trouble setting up an Oanda demo. I have it downloaded but there's no server. IBFX is working.
MT4?

You don't setup a demo on MT4 itself. You create an fxTrade account then create an MT4 subaccount to use with MT4. They do all user authentication on their fxTrade servers. Oanda's MT4 is just a bridge for trade processing and doesn't do account admin.

EDIT: that is, fxTrade Practice account, for demos.
FXGears.com
  • #16
  • Dec 6, 2012 9:46pm Dec 6, 2012 9:46pm
Quoting england33
I'm still having trouble setting up an Oanda demo. I have it downloaded but there's no server. IBFX is working.
same here. scan. there are no server.

UPDATE:
just got it. it's finally conected. cancel that server scan window. in the login using your user credential.
  • #17
  • Dec 6, 2012 9:52pm Dec 6, 2012 9:52pm
Quoting Fx-gtg
same here. scan. there are no server.
i had to know the account number of my demo and password which I had already made up to register for the account. you fund the demo through their website. then login through the terminal.
I had to call them to figure this out lol.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #18
  • Dec 6, 2012 10:05pm Dec 6, 2012 10:05pm
Quoting Jack_Larkin
MT4?

You don't setup a demo on MT4 itself. You create an fxTrade account then create an MT4 subaccount to use with MT4. They do all user authentication on their fxTrade servers. Oanda's MT4 is just a bridge for trade processing and doesn't do account admin.

EDIT: that is, fxTrade Practice account, for demos.
Quoting england33
i had to know the account number of my demo and password which I had already made up to register for the account. you fund the demo through their website. then login through the terminal.
I had to call them to figure this out lol.

What am I speaking, Swahili?

FXGears.com
  • #19
  • Dec 6, 2012 10:42pm Dec 6, 2012 10:42pm
ok, now have oanda and IBFX running both MT4
IBFX mt4 platform is same as GFT. It has trade terminal, mini terminal one click order. that is all great. one thing i don't like so far , spreads. 1.8-2.1 pip spread on eur/usd right now.
oanda 1.1 pip same pair
GFT and Citifxpro 1.6
  • #20
  • Dec 7, 2012 6:19am Dec 7, 2012 6:19am
all GFT accounts have been transfered to forex.com broker.

Welcome GFT Traders to FOREX.com!
Last Sunday, GFT made the business decision to cease supporting U.S. retail forex trading. We are pleased to announce that on Friday, December 7, 2012 your GFT account was transferred to FOREX.com. Your forex account has returned to normal status and you can trade forex markets normally.

Highlights of this transition:

You will be able to continue trading on the Dealbook platform or, if you're an MT4 trader, your MT4 platform.
Your trading history will remain available.
Platform updates will be coming over the next week.
Your account number & login credentials will not change.
Your open positions & pending orders will remain intact
Deposits and withdrawals will now be handled through FOREX.com.
o To deposit, click here

o To withdraw funds, click here

You can trade on the same spreads and have access to a wide range currency pairs that were available to you as a GFT customer.
You have access to customer service by phone, email or chat 7 days a week, including 24 hours a day during trading hours.
No additional paperwork will be required, your account has been transferred.
FOREX.com will provide you the same high level of service that you have received from
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