anyone recommend a USA broker with low swap and commissions | Forex Factory

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anyone recommend a USA broker with low swap and commissions

  • #1
  • First Post: Jun 11, 2015 7:45pm Jun 11, 2015 7:45pm
Trading from the USA is a hassle, silly Dodd-Frank Act driving me nuts.

Outside of going the offshore corporation route and trading with a non-US broker, can someone recommend a retail broker that isn't going to kill my profit with SWAP rates and outsize commissions?

I've tried Interactive Brokers, but their software was so horrible, I could not stomach it, and their ACH-limits are silly, too.

I usually trade 10-20 lots and hold positions over days, even weeks.
  • #2
  • Jun 12, 2015 11:33am Jun 12, 2015 11:33am
Slim pickings these days. I thought Citi was at least somewhat decent, but it looks like lady justice made them close up their retail spot bz because of "alleged" conduct. Whats left on the short list? fxcm, atc (ib to fxcm), mbtrading, forex.com (gain), tradestation (gain feed, i think) and Oanda. Of those, I dunno, maybe fxcm or mbtrading, depending on your needs. Would love to hear others' experiences with these brokers.
  • #3
  • Jun 12, 2015 5:54pm Jun 12, 2015 5:54pm
as my fellow said i just want to add vcap look at them i hope they can give you a good option
all have a nice day
focus while relaxed to see better
  • #4
  • Jun 12, 2015 9:55pm Jun 12, 2015 9:55pm
Quoting digitil
I usually trade 10-20 lots and hold positions over days, even weeks.
I had similar issues even though I'm not restricted to US brokers. I've looked around extensively but, for the most part of my trading, decided to stick with IB and trade FX Futures instead. You won't find a better swap than in Futures as it's embedded in the price. Futures have other shortcomings but they work for me.
  • #5
  • Jun 15, 2015 2:49pm Jun 15, 2015 2:49pm
Quoting actalis
{quote} You won't find a better swap than in Futures as it's embedded in the price. Futures have other shortcomings but they work for me.
Point well made, and thank you for the reply. I'm weary of futures but you're probably right. Spot has become bottom barrel feeding in the US. Hardly worth the effort anymore.
  • #6
  • Jun 15, 2015 2:51pm Jun 15, 2015 2:51pm
Quoting orabi
as my fellow said i just want to add vcap look at them i hope they can give you a good option all have a nice day
No way. There are literally 100's of these kinds of institutions out there. And 2 minutes on their sites (plural) shows me they're as predatory as it gets.
  • #7
  • Last Post: Jun 15, 2015 2:59pm Jun 15, 2015 2:59pm
Quoting nonlinear
Slim pickings these days. I thought Citi was at least somewhat decent, but it looks like lady justice made them close up their retail spot bz because of "alleged" conduct. Whats left on the short list? fxcm, atc (ib to fxcm), mbtrading, forex.com (gain), tradestation (gain feed, i think) and Oanda. Of those, I dunno, maybe fxcm or mbtrading, depending on your needs. Would love to hear others' experiences with these brokers.

  1. Citi was reselling Saxo I believe, and they're terrible risk managers.
  2. fxcm had some pedigree years ago but I doubt they're really industrial strength nowadays. Too many micro-lot trading customers.
  3. Gain capital has been known for decades to be hard core, predatory, and completely ruthless when it comes to dealing with small investors. No thanks. I won't touch anything associated with them with a 50-foot pole.
  4. Oanda looks nice on paper, but they hedge their risk by disallowing large transfers out and not having segregated accounts either, so if they're ever in any sort of trouble, your claim is in line after 1,200 other claims before you see your semi-insured Canadian capital back in your account 9 months later (if you're lucky). But they do look better than most other retail brokers, I give them that. At least they actually distinguish S/L interest on swaps and publish them. Don't see that everyday on those bucket shop websites.

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