Finpro, tradersway and money exchangers... Neteller, skrill

US traders have a huge handicap with no hedge and Fifo..
No one wants US clients... Can't even open an account with most brokers and if they do take US it no hedge, Fifo and max 1:20.
Just awful.
There are a few brokers who will take US and allow hedge and not restrict to fifo.
Good reviews for Tradersway up 1:1000 and Finpro 1:200 with 100% bonus so lots of room to work with there.
But funding the account is either bank wire sizeable fee for a small account and can take a week or a money exchanger like Neteller or Skrill etc
Just figuring out how the moneyechanger thing works is complicated.

There are a lot of bad reviews and customer service is not good from what I hear. It took me hours just to find an email address to address a simple question.
I funded Neteller with $10 just to see how it works but I can't see how to send it to the broker. There is supposed to be a "Money transfer" option in my account but there isn't anything. I emails Neteller yesterday but no reply. There are some international phone numbers listed, found after a long hard search, for help line.

Anyone have experience with dealing with this?

Looks like a credit card can be used to deposit directly into Tradersway or Finpro. But it is treated as a cash advance. But as soon as the transaction appears on the credit card statement online it can be paid. Even if it takes 3 days online for the charge to be paid down on the credit card it's only $.35 per day for a $500 transfer. There are other fees from the broker for credit card deposits. There are cash advance limits depending on the credit limit. Not all credit companies will send international. "Capital one never even heard of Neteller or Skrill. What's a money exchanger?"

Don;t know about Finpro. Day before yesterday couldn't log in all day. The chat guy didn't tell me it was them and I thought it might be my settings. So I spent some time cleaning cookies and checking everything. Lost all my passwords, etc. finally he admitted they were having technical problems but it would be fixed in an hour. It was down all day. I wasn't too happy about that. Why didn't he just tell me right away?
And now again. Can't login in. He said the problem was affecting new accounts only.
Maybe Tradersway is the way to go.
Do the cash advance thing with a Chase card. They can send to a broker outside the country. (I bet they can....) And pay Chase as soon it shows on the statement online.
1:1000 looks good. With that kind of leverage and the dragon set up for 4 hours end of London this ought to be very good.
If 1:20 margin for EURUSD is $50
then 1:10 would be $100
1:100 would be $10
1:1000 would be $1 margin... Great for scalping ECN don't you think!!!!!!!!!!!!!!!

They are not allowed to take you on as clients without complying with US regulation.

Going with some unregulated bucket shops is certainly not the right answer if you're serious about trading. My suggestion is to find a good accountant and work out some setup using an offshore company.

Finpro people are really nice. Very friendly. But they don;t have together in a lot of ways. Their website has been a mess for days now for new accounts. Chat is friendly but not too informed.
Tradersway is much tighter and up and ready to go.
Funding was breeze and immediate with the credit card. After unlocking international security holds with the credit card company.
The dragon is ready for Monday... 1:1000 margin with 100% bonus....
http://www.forexfactory.com/showthre...47#post9493647

Thank you I can see that would be the way to go at some point. But I'm not there yet. Not all that much to work with.

A lot of traders are using Tradersway. Good reviews. I'm signed and funded with them as of this morning. ECN So let's see. Not much put into the account for now. Let's see what happens. 1:1000 is great for fast trades....

Here's what Tradersway says..

"Our company is registered and working in line with the Commonwealth of Dominica legislation. Our jurisdiction does not require any special license for forex activity."

From the web.. " There are certain international banking regulations to which all companies operating out of Dominica are bound, however, forex businesses are not regulated at this time."


From a review, "We have to point out that despite the above said, Trader’s Way has more than 6 years of experience on the forex market and has won a reputation of a reliable broker, who strives to provide maximum transparency and security in both its own and clients’ activities.
The broker states on its website that it keeps client funds and company money separate and that it employs strict AML and KYC policies to support international efforts against money laundering and inappropriate usage of funds."

"Of course, this broker offers high quality VPS Hosting Service. Access to Trader’s Way remote server ensures that your robots, Expert Advisors (EAs) and scripts function continuously and without interruption, even if your computer is switched off."

"Trader’s Way is a reputable offshore broker, offering competitive conditions for trading in various currency pairs and CFDs on the MT4 and cTrader platforms. Its main disadvantage is lack of regulation. "

So pretty much going on reputation and past performance here.. Not sure how much government regulation helps anyway. If the company has a good reputation...

Any update on you experience with tradersway? Thanks!

Great so far. Easy to get money into the account. They bill a credit card not as cash advance but as "services rendered." So it's a purchase and have all month to get it paid down. Instantaneous.. once the accounts are set up. The ECN on mt4 is lightning fast. No requotes ever. small very small commission $.06 for EURUSD sometimes the spread is 0. If there is any at all it's minuscule. 1:000 available under $500 equity plus a 100% bonus to increase leverage if you need it. It was good really good choice. Plus they accept US citizens so no FIFO, hedging allowed. I'd recommend them to anyone.

Is Neteller like Qiwi?