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Which best broker allows hedging in the same account for US clients? 15 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
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List of Brokers taking U.S. Clients with hedging, scalping and no FIFO

Quoting Spili
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
This seems to pertain to firms who engage in forex trading and not individuals? So I guess this is really for examining the brokers or incorporated traders?
Make your losses in demo. Earn your profits live.
Quoting Forexia
{quote} This seems to pertain to firms who engage in forex trading and not individuals? So I guess this is really for examining the brokers or incorporated traders?
Well FINRA is global reporting for financial institutions back to US authorities on the financial activity of US citizens abroad for tax reasons (i.e Uncle Sam's IRS Spy Network), so although it looks like this is geared towards institutions, those institutions will be obliged to report the activities of their customers. I just wonder how far reaching this is and what the impact is. Hopefully just tax, but you never know these days.
"Risk comes from not knowing what you're doing." - Warren Buffett
Quoting Spili
{quote} Well FINRA is global reporting for financial institutions back to US authorities on the financial activity of US citizens abroad for tax reasons (i.e Uncle Sam's IRS Spy Network), so although it looks like this is geared towards institutions, those institutions will be obliged to report the activities of their customers. I just wonder how far reaching this is and what the impact is. Hopefully just tax, but you never know these days.
Really??? Ok so this is for US firms who operate abroad? Yeah this looks like it's just for firms to report their forex trading activities. If the firm REALLY wants to protect their client information, aren't they allowed to black out the client's name and their information when filling out the form? The US government does it all the time with their classified documents, all we see is adjectives, verbs and pronouns, everything else is all blacked out. LOL
Make your losses in demo. Earn your profits live.
Opened up a demo account with Tallinex this morning based on the recommendation from FinFx.
The demo defaulted to the ECN micro account (spreads only) vs the ECN Pro (lower spreads + commission).
6 hours of watching rates during the US market hours.
EU: around 2.8 pip spread 90% of the time.
GU: 3.8 pip spread
UJ: 2.8 pip spread
AU: 3.9 pip spread.

Spreads on the Micro account are terrible (versus my Oanda account) but they offer much higher leverage, no FIFO and hedging .
Not excited but will keep demoing.
Made a withdrawal from my non-US broker very late Friday. The free of charge wire hit my bank before 10AM this morning. I am sure it would have been there yesterday if no holiday. High leverage, no FIFO, hedging (I don't hedge, but could if I want) and they somehow get my money here in 18 business hours, when my domestic broker takes 4 days. If we all just go offshore, who is going to stop us.
I’ve been searching for a while now to find a broker I want to do business with. All of the US retail brokers seem to be market makers: Forex.com, Oanda, CitiFX Pro, etc. The only US broker I can find that uses an agency model is FXCM, which just had a $300MM bailout from Leucadia. Who knows if the agency model will last now that Leucadia basically owns FXCM. I’m not as concerned with the lower leverage options of US brokers, but not dealing with a market maker is a big deal to me. Unless someone knows of a US broker that is not a market maker (and survived black Thursday without a bailout), it looks like my only option is to go off shore. However, I’m a bit wary of sending my money to a foreign country. If they decide to bend me over a barrel, I doubt there will be much I can do about it. I’ve managed to find 3 off shore brokers accepting US traders that have fairly positive reviews:

Tallinex
https://www.tallinex.com/
Headquarters: Estonia
Founded: 2012
Initial Deposit: $100
Leverage: 1:1000
Margin call / Stop-out level: 150% / 100%
Commission on Pro ECN Account: $6 (round turn)
Review: http://www.forexpeacearmy.com/public...w.tallinex.com

Traders Way
http://www.tradersway.com/
Headquarters: Dominica
Founded: 2011
Initial Deposit: No Minimum
Leverage: 1:1000
Stop-out level: 40%
Commission on Pro ECN Account: Variable
EUR/USD Commission Example: (100,000 EUR Open Size + 100,000 EUR Close Size) * 1.25 EURUSD Rate / 100,000 * 3 USD = 7.5 USD
Review: http://www.forexpeacearmy.com/public...tradersway.com

FX Choice
http://myfxchoice.com/
Headquarters: Belize
Founded: 2010
Initial Deposit: $100
Leverage: 1:200
Margin call / Stop-out level: 25% / 15%
Margin call / Stop-out level (Pro Acct): 100% / 80%
Commission on Pro ECN Account: $7 (round turn)
Review: http://www.forexpeacearmy.com/public...w.fxchoice.com

Right now I’m leaning toward FX Choice. They are the oldest of the three, and while the leverage is a lot smaller than the other two (still better than 1:50 here in the US), they have a 4 ½ star rating, as compared to the 3 ½ star rating of the other two, and they also have smaller margin call levels. And while the commission is a $1 more than Tallinex, from what I’ve read, the spreads are smaller. While I’d prefer to keep my money in the US, I don’t think I can find what I’m looking for here. Any input on these or other recommendations would be appreciated.
Anyone can give us more feedback about:

 

  1. LCG (London Capital Group) is a 2nd tier PB and you have access to the JP Morgan tier 1 PB liquidity + it's accessible to the retail guy as well+ variety of top platforms. There is another entity LCGMT which provides mt4 as well
  2. CFH Clearing I've heard they provide brokerage services to a lot of Hedge Funds and it's also accessible to retail guys.


If anyone is working with them and/or has any experience please provide us with your feedback.

Much appreciated.

Hi Triger88990,

Since both of those are based in London, neither one would accept US customers. This thread is about brokers taking US customers, so you may have better luck getting an answer to your question in another Thread, or start a new thread.
One of my concerns with overseas brokers is the withdrawal and deposit method. They use Neteller, Skrill and a few other methods that have bad/scam reviews. Anyone on here use any of these methods ? Bank wire is the safest but very costly ($35 outgoing, $15 incoming) every time a transaction is done.
Quoting freundr
One of my concerns with overseas brokers is the withdrawal and deposit method. They use Neteller, Skrill and a few other methods that have bad/scam reviews. Anyone on here use any of these methods ? Bank wire is the safest but very costly ($35 outgoing, $15 incoming) every time a transaction is done.
I use bank wire. With my broker, once you've traded 2 lots, all wires over $500 are free on their end. My bank still hits me with $16 though.
Quoting freundr
One of my concerns with overseas brokers is the withdrawal and deposit method. They use Neteller, Skrill and a few other methods that have bad/scam reviews. Anyone on here use any of these methods ? Bank wire is the safest but very costly ($35 outgoing, $15 incoming) every time a transaction is done.
I am using Skrill and it's very good payment method, smooth and fast withdrawal that my broker support (hotforex) . you can Google for its reputation. I think after Paypal, Skrill is the best one that every online company using. You don't need to worry about the payment method, you should check your broker reputation, it could be the scammer with highest potential chance.
I've had some steady business with Oanda over the years, seem to have been stead as a rock, so I don't really care if MM or not, as long as I'm careful and the broker seems to have a good track record. I'm always buying one currency and selling the other, so someone has to be on the opposite side of my trade. I don't really care who that someone is as long as I'm taking money from their account and putting it in mine.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • Post #113
  • Quote
  • Edited at 10:09am Jan 23, 2015 9:23am | Edited at 10:09am
Quoting Spili
I've had some steady business with Oanda over the years, seem to have been stead as a rock, so I don't really care if MM or not, as long as I'm careful and the broker seems to have a good track record. I'm always buying one currency and selling the other, so someone has to be on the opposite side of my trade. I don't really care who that someone is as long as I'm taking money from their account and putting it in mine.
I dont think fxchoice is regulated.


Forexbrokerinc is good. I like tradersway also.


Do US citizens get in legal trouble for using leverage over 50:1 or is that rule only for brokers?
Quoting c3p0
{quote} I dont think fxchoice is regulated. these are good- Forexbrokerinc forex .com Do US citizens get in legal trouble for using leverage over 50:1 or is that rule only for brokers?
ForexBrokerInc is not regulated either. However, I use and trust them more than any broker here in the US. Trading conditions are excellent, they are STP/ECN, I receive my withdrawals next day.

Forex.com- you clearly have not done your research. Probably one of the worst brokers on the planet.
Quoting Profit Daily
{quote} ForexBrokerInc is not regulated either. However, I use and trust them more than any broker here in the US. Trading conditions are excellent, they are STP/ECN, I receive my withdrawals next day. Forex.com- you clearly have not done your research. Probably one of the worst brokers on the planet.
Right, i just went back and checked forex. com and yikes, they willing admit they are a DD and will screw with your positions and with the prices. dont go there...
Quoting undergroundz
{quote} I am using Skrill and it's very good payment method, smooth and fast withdrawal that my broker support (hotforex) . you can Google for its reputation. I think after Paypal, Skrill is the best one that every online company using. You don't need to worry about the payment method, you should check your broker reputation, it could be the scammer with highest potential chance.
Agreed, the choice of a good broker is my primary concern, but the safety, reliability, cost and method for withdrawal is a big concern also.
Final nail in the coffin of US trading came for me in the form of an email from Oanda last night. The esteemed "wisdom" of the NFA has dictated we now are limited to
33:1 leverage on AU and JPY pairs
20:1 leverage on CHF pairs.
NFA and CFTC are pushing out retail fx for what purposes ? Get us all to trade futures ?
ironically some futures brokers will give you day trading leverage for S&P eminis at $400-500. Roughly $100,000 contract at 200:1 leverage. Hmm ?
Now I have to decide what country to jump in bed with..Belize, Estonia, Finland, Dominica ?

Immediate attention required – Additional increases in required minimum security deposit for forex transactions.
On Jan. 21, 2015, NFA's Executive Committee exercised its authority under NFA Financial Requirements Section 12 and increased, until further notice, the minimum security deposits required to be collected and maintained by FDMs (Forex Dealer Members) under Section 12 for transactions involving the Swiss franc (5%), Swedish krona (3%) and Norwegian krone (3%). At the time of those increases, NFA alerted FDMs that NFA was continuing to monitor market conditions and that the Executive Committee could decide to make additional increases to these or other currencies if market conditions warranted. Given the continued volatility in the foreign currency markets, the Executive Committee has determined to increase the minimum security deposits required to be collected and maintained by FDMs under Section 12 as follows:

Currency
Previous Margin Requirement
New Margin Requirement
Japanese Yen (JPY)
2%
3%
Australian Dollar (AUD)
2%
3%
Mexican Peso (MXN)
5%
6%
These increases become effective at 5 PM EST on Monday, January 26, 2015 and will remain in effect until further notice.
In addition, the period for which an account may be continuously undermargined has been reduced from 7 days to 2 days. If an account is undermargined for 2 consecutive trading days (checked daily at 4 p.m. (EST/EDT), a margin closeout will occur and all open positions in the account will be automatically closed at the current fxTrade rates.
Please note that a margin closeout will also occur in the event the Margin Closeout Value of your account declines to 50% of the Margin Used. This will occur immediately and without prior notice. For your convenience Margin Closeout Value and Margin Used are displayed in the Account Summary table on the fxTrade interface.
OANDA's Margin Rules and information on how to avoid margin closeouts are available on our website: http://fxtrade.oanda.com/help/policies/margin-rules
As a reminder, at 7:00 PM EST, January 30, 2015, due to regulatory requirements determined by the National Futures Association (NFA), OANDA will no longer be permitting credit card or PayPal deposits to fund your FxTrade account. You may continue to fund your account via Credit Card or PayPal up until that time.
We will continue to accept account funding via wire transfer, check, and debit backed by Visa or MasterCard.
Pretty annoying - especially when these margin restrictions are presented as 'protection' for traders. In fact, its a way of protecting US companies from global competition. When that competition is removed, its called a monopoly. I thought that was against the law... :-).
Quoting Thruline
Pretty annoying - especially when these margin restrictions are presented as 'protection' for traders. In fact, its a way of protecting US companies from global competition. When that competition is removed, its called a monopoly. I thought that was against the law... :-).
I use three offshore brokers, who all offer 500:1. Not one was impacted by this event. So becaue FXCM lost $225 million, we have to change the leverage. This was just the excuse they were waiting for. How about, since they have been fined over and over and over and over,etc., we just shut them down. If all of the rules are for our benefit, they should be shut down at second violation. The regulations are just an income stream for NFA. They force us to use these scam brokers in the US, do not allow them to offer segregated accounts, meanwhile, their are better regulated brokers around the world who do offer protection on your funds and we can't trade with them. Please, NFA, explain how that is protecting me?
Does anyone know any FX traders who live in Kansas? I am organizing a meeting with US Senator Pat Roberts (he's the head of the Committee on Agriculture which oversees the CFTC which oversees the NFA). The purpose of the meeting is to attempt to bring some sanity to recent rogue leverage changes. If you think the NFA is ruining the FX market, let's tell Senator Roberts. No guarantees but I have received positive feedback from Senator Roberts' office on this subject. Let's take back our market before it is gone forever!
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