List of Brokers taking U.S. Clients with hedging, scalping and no FIFO | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why is FIFO used by some brokers? 12 replies

what happens with stoplosses at FIFO brokers? 1 reply

Need a 5 decimal 500:1 MICRO mt4 broker who is happy with scalping/hedging/ea clients 21 replies

Help me to make a list of brokers that allow hedging in the same account! 11 replies

Attachments: List of Brokers taking U.S. Clients with hedging, scalping and no FIFO
Exit Attachments

List of Brokers taking U.S. Clients with hedging, scalping and no FIFO

  • #81
  • Dec 29, 2014 11:46am Dec 29, 2014 11:46am
Quoting Profit Daily
{quote} Been with them since July. Best broker I've traded with in my five years trading. Commission a bit high, but spreads are tight, true STP, I've watched price go within .001 of my stop and not hit several times. Wire transfers over $500 are free, I've made three withdrawals, last one was processed same day and hit my bank next day. Those who worry about regulation make no sense to me, our funds are not protected whatsoever with a US based "regulated" broker,but yet they want me to put 10 times the money in for margin to execute the same size...
I thought the CFTC/NFA at least audits the brokers to make sure our money really is in a segregated account separate from their operating funds. They don't even do that? And since your funds are not even protected in case if the broker goes under, so besides reducing the leverage, banning hedging and insisting on FIFO, they have done absolutely nothing in protecting the retail fx traders then. LOL Well I guess we are clear about the purpose of their existence, one purpose and one purpose only - to stamp out retail fx trading and protect the Futures industries at the same time. After all, they are the National Futures Association so makes sense WHY would they want to do something for the retail FX?

So now as long as you can get around the Dodd-Frank rule that forbids US citizens from investing abroad, then yeah it is absolutely advantageous for a US citizen to trade with a reputable, trustworthy un-regulated foreign broker.
Make your losses in demo. Earn your profits live.
  • #82
  • Edited 5:54pm Dec 29, 2014 5:41pm | Edited 5:54pm
Quoting Forexia
{quote}So now as long as you can get around the Dodd-Frank rule that forbids US citizens from investing abroad, then yeah it is absolutely advantageous for a US citizen to trade with a reputable, trustworthy un-regulated foreign broker.

Forexia, I think you are mistaken about the Dodd-Frank rule. It does not forbid U.S. citizens from investing abroad. Instead, an effect of Dodd-Frank is that there are many foreign brokers of whom are associated with American brokers (such as they are part of the same company, etc) and therefore are forced to refuse U.S. citizens as a client. Other foreign brokers are intimated by the Dodd-Frank rule and feel pressure to not accept U.S. clients. However, there ARE some brokers that still accept U.S. clients, due to the fact that those particular brokers are not associated with any American companies AND they refuse to allow the CFTC/NFA to intimidate them. This is because they know these American regulatory agencies have no jurisdiction on them.

If anything the NEW Dodd-Frank rule might have made it easier for us to trade here in the U.S. (compared to the old Dodd-Frank rule) ... at least at some point in the near future when everything is finalized. I've seen in news articles that the new Dodd-Frank rule (of which was signed into law by King Obama a few weeks ago) has been relaxed. That is what angered a lot of the democrats - in that the new Dodd-Frank rule is not as strong as it was before. Exactly how it will affect American traders? I don't know. Maybe they are still in the process of implementing the various aspects of the rule and maybe it will take a bit of time before we find out how much - or even if - it helps American traders.

By the way, I had a live chat with a representative of a foreign broker nearly 2 weeks ago in regards to the Dodd-Frank law, and I posted my chat at another thread here at FF. Here is the link to that post if you want to read it: http://www.forexfactory.com/showthre...83#post7952083
"Dream big and dare to fail." - Norman Vaughan
  • #83
  • Dec 29, 2014 5:59pm Dec 29, 2014 5:59pm
Quoting Ace_1
{quote} Forexia, I think you are mistaken about the Dodd-Frank rule. It does not forbid U.S. citizens from investing abroad. Instead, an effect of Dodd-Frank is that there are many foreign brokers of whom are associated with American brokers (such as they are part of the same company, etc) and therefore are forced to refuse U.S. citizens as a client. Other foreign brokers are intimated by the Dodd-Frank rule and feel pressure to not accept U.S. clients. If anything the NEW Dodd-Frank rule might have made it easier for us to trade here in the U.S....
No how the Dodd-Frank rule or rather what was being enforced by the CFTC/NFA is that NO US citizens are allowed to trade with a foreign broker UNLESS the broker is also registered in US and consequently with CFTC/NFA and they will actively prosecute any US citizens found trading with a foreign broker that is not registered in the US and the foreign broker who's not registered in the US with CFTC/NFA who take US clients and this is why majority of the brokers outside of US does not accept US clients because they do not want to subject themselves to the ridiculous ruling of no hedging, FIFO and the outrageous leverage cap.

So if the Dodd-Frank rule that is being signed into law is actually relaxed then all the better for US traders which I always feel deserve lot better than the crap that CFTC/NFA has doled out. Hopefully you guys can relax the law a bit more and it will spill over to Canada here since we always US' a$$.
Make your losses in demo. Earn your profits live.
  • #84
  • Dec 29, 2014 6:08pm Dec 29, 2014 6:08pm
Quoting archtop
I'm currently with oanda but looking to go to ecn broker. since not a ton of options for US traders been looking at FXCM, MBTrading and ForexBrokersInc. does (or has) anybody here ever done business with any of these guys? FXCM seems to have a real crappy reputation and forexbrokersinc is kinda new and offshore. i opened demo accts with them all so far fxcm spreads are ok but commision are very high, havent spent as much time with others due to holidays. just looking for some feedback. peace

No, I haven't done any business with Forex Brokers Inc. BUT, I have seen a post at the Baby Pips forum in which a guy warned people to be cautious with that particular broker. Here is the link to that post if you want to see what he had to say: http://forums.babypips.com/forex-bro...tml#post670923

Also, be sure to read the next several posts after that post. A couple of other people also wrote posts to give more info about that broker.
"Dream big and dare to fail." - Norman Vaughan
  • #85
  • Dec 29, 2014 6:47pm Dec 29, 2014 6:47pm
Quoting Forexia
{quote} No how the Dodd-Frank rule or rather what was being enforced by the CFTC/NFA is that NO US citizens are allowed to trade with a foreign broker UNLESS the broker is also registered in US and consequently with CFTC/NFA and they will actively prosecute any US citizens found trading with a foreign broker that is not registered in the US and the foreign broker who's not registered in the US with CFTC/NFA who take US clients and this is why majority of the brokers outside of US does not accept US clients because they do not want to subject themselves...

There is a thread all about the subject of Americans trading abroad - as well as info of brokers that accept U.S. traders. The main guy of this thread (the guy that started it) has spent a lot of time & effort on this subject, as you will see if you go check out his thread. He wrote in post #5 of his thread:

"The CFTC has no authority over foreign brokers who operate entirely outside the U.S.* And under current law, the CFTC has no authority over individual traders who trade through foreign brokers that are beyond the reach of U.S regulation."

However, he later edits his post to say he has found out some foreign governments have made agreements with the United States to impose U.S. regulations on Americans and thus those particular governments refuse to do business with Americans. But, it is not every country, just some countries. Here is the link to the post: http://forums.babypips.com/forex-bro...tml#post220402

So, as the guy says, under current law the CFTC has no authority over individual traders who trade through foreign brokers that are beyond the reach of U.S. regulation.

As you can see from the thread, the guy is really passionate about this subject and has posted a lot of info about it on his thread.
"Dream big and dare to fail." - Norman Vaughan
  • #86
  • Dec 29, 2014 7:00pm Dec 29, 2014 7:00pm
Quoting Ace_1
{quote} There is a thread all about the subject of Americans trading abroad - as well as info of brokers that accept U.S. traders. The main guy of this thread (the guy that started it) has spent a lot of time & effort on this subject, as you will see if you go check out his thread. He wrote in post #5 of his thread: "The CFTC has no authority over foreign brokers who operate entirely outside the U.S.* And under current law, the CFTC has no authority over individual traders who trade through foreign brokers that are beyond the reach of U.S regulation."...
Yes I have read the post on this subject matter on the Babypips.com forum and yes what I meant by the "prosecution" is in the form of the co-operation between the foreign government with the US government thus allowing US authorities to control US traders' choice of foreign brokers. And I agree not all foreign governments have this "co-operative" agreement with the US government thus leaving US traders no choice but trading with many off-shore brokers that actually do not have adequate financial overseeing and regulations and thus leaving US traders actually more vulnerable.

Like I said, I hope the Dodd-Frank law that was signed into law gets rid of this stringent requirement.
Make your losses in demo. Earn your profits live.
  • #87
  • Dec 31, 2014 5:44pm Dec 31, 2014 5:44pm
Very slim pickings here in the US. I have been demoing FinFx for the last 2 months and just opened a demo with Traders Way (c trader ECN). Anyone used these and taken withdrawals ?
Also looking at FxTradeweb..
For whatever reason I have more confidence in sending money to Finland rather than Belize, Estonia, Dominica, Cyprus etc.

Edit: I have been with Oanda for the last 14 months and will continue to use that account as the primary.
  • #88
  • Edited 12:30pm Jan 7, 2015 12:05pm | Edited 12:30pm
kind of been looking for new broker, currently with oanda but would like to go ecn. wanted to find ecn, and not alot of choices for US citizens, demoed both mb trading & forex broker inc. the spreads with forex broker inc for the most part are worse than oanda AND theres commision on top of that so i think they're off my list. even though oanda is a market maker it does'nt appear they manipulate anything(they're reputation is near spotless) BUT, every time i make profit it seems the "market" changes just enough to take it back(my imagination?) . spreads are as tight as mb trading with no commision also td ameritrade has forex trading and a super clean reputation, there are a stp/dealing desk broker (not market maker) but only offer 1 platform, they wanted far to much personal and financial info just to open a demo acct so i didnt do it, wonderin if anybody has dealt with them.


probably going to stick with oanda unless anybody knows of better option. also what brokers are you guys using?
  • #89
  • Jan 9, 2015 11:09am Jan 9, 2015 11:09am
has anybody tried Sensus Capital, they take US clients, allow hedge, scalp and are ECN. german based reg by bafi and malta. haven't seen many reviews, most seem positive just wonderin if anybody has done business with them
  • #90
  • Jan 9, 2015 12:33pm Jan 9, 2015 12:33pm
Quoting archtop
has anybody tried Sensus Capital, they take US clients, allow hedge, scalp and are ECN. german based reg by bafi and malta. haven't seen many reviews, most seem positive just wonderin if anybody has done business with them
From what I read, FinFx from Finland seems to be good. They are unregulated forever but they so far has garnered positive reviews from people who trade with them. They have segregated accounts for client funds and that is audited by Pricewaterhouse. And because they are unregulated, they take US clients, allow hedging and scalping and no FIFO. And they are a true ECN/DMA broker. And they are a registered company in Finland. So that might be an option.

In terms of ECN brokers in US, the best two choices are really MB Trading and Interactive Brokers (be aware of their horrible proprietary trading platform, non-existing customer service and non-competitive swap rates) but you are still subject to the draconian leverage cap of just 50:1, no hedging and FIFO rules.
Make your losses in demo. Earn your profits live.
  • #91
  • Jan 13, 2015 5:39am Jan 13, 2015 5:39am
Tallinex is an excellent non US ECN broker that accepts US clients.
  • #92
  • Jan 13, 2015 12:49pm Jan 13, 2015 12:49pm
Quoting Forexia
{quote} From what I read, FinFx from Finland seems to be good. They are unregulated forever but they so far has garnered positive reviews from people who trade with them. They have segregated accounts for client funds and that is audited by Pricewaterhouse. And because they are unregulated, they take US clients, allow hedging and scalping and no FIFO. And they are a true ECN/DMA broker. And they are a registered company in Finland. So that might be an option. In terms of ECN brokers in US, the best two choices are really MB Trading and Interactive...
I have been demoing FinFx with their ECN account ($ 7 comm per lot) and even with the commission it typically is better than Oandas spread..but there are costs to deposit and withdraw from the account. Will open up a regular account without commissions and see how that compares to Oanda.
Sucks that we have to send money overseas to get better brokers than what the US offers..
  • #93
  • Jan 13, 2015 1:49pm Jan 13, 2015 1:49pm
Quoting freundr
{quote} I have been demoing FinFx with their ECN account ($ 7 comm per lot) and even with the commission it typically is better than Oandas spread..but there are costs to deposit and withdraw from the account. Will open up a regular account without commissions and see how that compares to Oanda. Sucks that we have to send money overseas to get better brokers than what the US offers..
"They" are just looking out for us...


lol
  • #94
  • Jan 13, 2015 4:06pm Jan 13, 2015 4:06pm
Quoting freundr
{quote} I have been demoing FinFx with their ECN account ($ 7 comm per lot) and even with the commission it typically is better than Oandas spread..but there are costs to deposit and withdraw from the account. Will open up a regular account without commissions and see how that compares to Oanda. Sucks that we have to send money overseas to get better brokers than what the US offers..
I know, the deposit & withdraw fees are horrible. This is pretty typical whenever you invest with a broker that's outside of your own country. They all say that they don't make any money from those transactions fees but they are certainly not offering us the cheapest methods either and I am sure there are cheaper methods that they can offer to us IF they want to really try. But since WE are the ones who wants to give THEM money thanks to the unreasonable "regulatory bodies" in our countries, they don't really care.

Good luck!
Make your losses in demo. Earn your profits live.
  • #95
  • Jan 13, 2015 6:31pm Jan 13, 2015 6:31pm
Last time I checked, Forex Brokers Inc didn't charge for deposits and withdrawals. That's been several months. But what I initially saw from them as pretty good spreads, ballooned to 'too big' for my tastes. Traders Way charges for deposits and withdrawals but, if you read through all the options they have, you can manage those costs to an extent. Avoid credit card deposits with them.
  • #96
  • Jan 19, 2015 8:25am Jan 19, 2015 8:25am
and FinFx is out of the US...got this email last night.


"FinFX has successfully coped with the last week’s unexpected events and continues to operate normally.

Yes, these rumours are true, and FinFX is no longer accepting US clients.

We are moving our existing clients to Tallinex (www.tallinex.com), so you can check that broker if you want.

Thank you.


Best Regards,

https://us-mg5.mail.yahoo.com/ya/dow...ppid=yahoomail

FinFx Trading Oy | ELENA
| Account Manager| +358102810103
| Tainionkoskentie 14, 55100 Imatra, Finland
| [email protected] | www.finfx.fi
  • #97
  • Jan 19, 2015 10:30am Jan 19, 2015 10:30am
For sure anyone going with Tallinex should have the resources to deposit at least 2k. Smaller accounts appear to have around double the commission costs.
  • #98
  • Jan 19, 2015 12:12pm Jan 19, 2015 12:12pm
FX Choice accepts US Citizens.......http://myfxchoice.com/
  • #99
  • Jan 19, 2015 1:15pm Jan 19, 2015 1:15pm
Just out of interest, are US people using offshore brokers going to get busted for non FIFO with the new FINRA legislation being pushed out all over the world?

I couldn't find much as it relates to Forex, but it's clearly included to some extent:

http://www.finra.org/Industry/Regula...etters/P120474
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #100
  • Jan 20, 2015 12:35am Jan 20, 2015 12:35am
Quoting freundr
and FinFx is out of the US...got this email last night. "FinFX has successfully coped with the last week’s unexpected events and continues to operate normally. Yes, these rumours are true, and FinFX is no longer accepting US clients. We are moving our existing clients to Tallinex (www.tallinex.com), so you can check that broker if you want. Thank you. Best Regards, {image} FinFx Trading Oy | ELENA | Account Manager| +358102810103 | Tainionkoskentie 14, 55100 Imatra, Finland | [email protected] ("[email protected]")...
Oh what a shame. I guess the US whatever agency got to them. Another good broker gone for US traders. I guess it's only the offshore brokers left and that's gonna expose US traders to lot larger risks.
Make your losses in demo. Earn your profits live.
0 traders viewing now