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  • #10,001
  • Feb 9, 2017 1:54am Feb 9, 2017 1:54am
Quoting BernWillChri
@mindyyost, Does Interactive Brokers offer forex account for a reasonable account size? I saw some crazy number such as $10M is required.
10K required.
  • #10,002
  • Feb 9, 2017 2:03am Feb 9, 2017 2:03am
BernWillChri,

I am not sure if they offer forex to US clients. I have been looking on their web site for the answer to your question and can't find a direct answer. And their live chat line is apparently closed at the moment.

JohnnyCash,

I also saw the $10K minimum but it appeared that that was for a managed account?? and not a personal trading account... so not sure there either.
  • #10,003
  • Feb 9, 2017 2:13am Feb 9, 2017 2:13am
Quoting BernWillChri
@mindyyost, Does Interactive Brokers offer forex account for a reasonable account size? I saw some crazy number such as $10M is required.
I used to paper trade with IB and yes - you'll need $10M in change to trade forex. Either that or trade cash only. If you have $200k or so sitting around, it may be worth a look.
  • #10,004
  • Feb 9, 2017 2:19am Feb 9, 2017 2:19am
Styles,

Well, if that's the case I guess that's a little out of my league! I do know of some other options for the US traders though that might work for some people, which I will discuss in the YouTube Live event tonight.
  • #10,005
  • Feb 9, 2017 3:19am Feb 9, 2017 3:19am
Quoting mindyyost
Styles, Well, if that's the case I guess that's a little out of my league! I do know of some other options for the US traders though that might work for some people, which I will discuss in the YouTube Live event tonight.
Please leave a link if it will be recorded.
  • #10,006
  • Feb 9, 2017 3:22am Feb 9, 2017 3:22am
Styles,

I will try to do that but if I can't figure out how to do it just check my name on YouTube after and it should link you to my channel. I think it will be there automatically.
  • #10,007
  • Feb 9, 2017 3:51am Feb 9, 2017 3:51am
Forexia,

Thanks for that information - I did not know what the situation was and appreciate that you took the time to tell us.
  • #10,008
  • Feb 9, 2017 3:58am Feb 9, 2017 3:58am
Quoting styles20001
{quote} I used to paper trade with IB and yes - you'll need $10M in change to trade forex. Either that or trade cash only. If you have $200k or so sitting around, it may be worth a look.
Yup thanks to SEC. The last decent closest to an ECN broker was eliminated from the United States soil, just like that, with a stroke of a pen!
Make your losses in demo. Earn your profits live.
  • #10,009
  • Feb 9, 2017 7:16am Feb 9, 2017 7:16am
Quoting johnnycash
{quote} 10K required.
yes $10K, i m using them, great spread, however i m not a big fan (to be polite :-) ) of the customer support
  • #10,010
  • Feb 9, 2017 12:14pm Feb 9, 2017 12:14pm
Quoting pipmaster77
{quote} Not neccessary to have huge winning %, it works the same way as if I had 50:1 broker. So, let's say I have 10K to trade with in my bank account, and I want to risk 2% on a trade. Let's say 5 minis on EURUSD with a 40 pip stop. With my broker, I only need to deposit the 200 I am risking. In the US, I need $1,000 on deposit with the broker just to cover the margin due to the 50:1. So I am risking the same % of my capital, it just isn't at risk of having more than neccessary on deposit at the broker. It truly is a mch, much less risky approach...
This is so true!
I have to say THANK YOU! pipmaster77.
(I was 7 years with FXCM & just closed my Acct. Just signed with FXChoice.)
You also wrote this:If you are a US resident or citizen, you have two choices:

1. Enjoy the trading freedom as the rest of the world by trading with an offshore, unregulated broker. This is due to the US government not allowing us to trade with any other regulated broker in the world.

2. Trade with the thieving, cheating, stealing brokers whom they regulate. Deposit 10 times more capital with the broker for margin, which is not protected as regulations do not allow any protection of forex accounts.

Hmmmm....such a tough choice for a US resident.

"
  • #10,011
  • Feb 9, 2017 4:43pm Feb 9, 2017 4:43pm
Quoting ngson99
{quote} I don't get it, why do I need to send email to [email protected]? I have sent email to [email protected] already.
Hi Ngson,

I didn't know you had already sent an email to [email protected] when I suggested you email [email protected]. Our Operations staff responds to emails sent to both mailboxes, and if you follow the instructions they provide, they will be able to process your request.
  • #10,012
  • Feb 9, 2017 10:06pm Feb 9, 2017 10:06pm
Jason; as a fan of the market-scope platform for its flexibility and options will this platform migrate to any purchasers of the US accounts?
  • #10,013
  • Feb 10, 2017 3:51am Feb 10, 2017 3:51am
Quoting USATrader007
{quote} 2. Trade with the thieving, cheating, stealing brokers whom they regulate. Deposit 10 times more capital with the broker for margin, which is not protected as regulations do not allow any protection of forex accounts. Hmmmm....such a tough choice for a US resident. "
Yes but they ARE audited each month to make sure their firms' operating funds are segregated from the client funds so if they are ever going under, at least the client funds will be intact to be returned back to the investors. And they have to have enough capital on hand to meet any ensuing risks and they have to publish their capital amount each month.

Do any of the offshore brokers do that? Do you know how much capital does your offshore brokers have? And just like that famous TV news tagline:

It's 11:00 PM, do you know where your money is with your broker?
Make your losses in demo. Earn your profits live.
  • #10,014
  • Feb 10, 2017 3:58am Feb 10, 2017 3:58am
Quoting Forexia
{quote} Yes but they ARE audited each month to make sure their firms' operating funds are segregated from the client funds so if they are ever going under, at least the client funds will be intact to be returned back to the investors. And they have to have enough capital on hand to meet any ensuing risks and they have to publish their capital amount each month. Do any of the offshore brokers do that? Do you know how much capital does your offshore brokers have? And just like that famous TV news tagline: It's 11:00 PM, do you know where your money...

I heard and see many stories on the forums and friends that with unregulated offshore broker, their fund mostly are delayed, or missold of the promotion, they are more hungry for business, and will do whatever to win your business.
There is no Guarantee Winner for the Game
  • #10,015
  • Feb 10, 2017 4:28am Feb 10, 2017 4:28am
Quoting Jason Rogers
{quote} Hi Ngson, I didn't know you had already sent an email to [email protected] ("[email protected]") when I suggested you email [email protected] ("[email protected]"). Our Operations staff responds to emails sent to both mailboxes, and if you follow the instructions they provide, they will be able to process your request.
This joker Jason is acting like Trump; as if nothing is happening.

you are busted and you should be ashamed of yourself. How can you live with yourself when your are getting paid a salary by stealing from customers.

Seek a more honest job dude.
  • #10,016
  • Feb 10, 2017 5:31am Feb 10, 2017 5:31am
Quoting alphadude
{quote} this joker jason is acting like trump; as if nothing is happening. You are busted and you should be ashamed of yourself. How can you live with yourself when your are getting paid a salary by stealing from customers. Seek a more honest job dude.

and he dosnt respond to my questions perhaps the aussie fxcm does the same
people leave, but this thread will go on for ever
  • #10,017
  • Feb 10, 2017 6:19am Feb 10, 2017 6:19am
Quoting Forexia
{quote} Yes but they ARE audited each month to make sure their firms' operating funds are segregated from the client funds so if they are ever going under, at least the client funds will be intact to be returned back to the investors. And they have to have enough capital on hand to meet any ensuing risks and they have to publish their capital amount each month. Do any of the offshore brokers do that? Do you know how much capital does your offshore brokers have? And just like that famous TV news tagline: It's 11:00 PM, do you know where your money...
So then trade with Oanda or Forex.com. I'll take my chances offshore. Forex.com blatanly steals from their clients through variety of methods, regulation doesn't mean shit.
  • #10,018
  • Feb 10, 2017 1:26pm Feb 10, 2017 1:26pm
Hi Mr jason rogers, my english is not good, i just want to know from you as representative of FXCM what happened ?. did you robbed the money of your customers ?
  • #10,019
  • Feb 10, 2017 2:39pm Feb 10, 2017 2:39pm
You guys overreacting a little bit. Jason Rogers just another support-marketing guy to manage online presence. How orders executed and how FXCM makes taking other side of trades - probably knows few people in company only.
in my opinion every single ECN type broker have to take some trades on their own book to make money. When average customers has couple of thousands in their account - it's not enough to make money from tiny spreads. Just FXCM did that more aggressively than others and got burned eventually.
  • #10,020
  • Feb 10, 2017 2:40pm Feb 10, 2017 2:40pm
Quoting USATrader007
{quote} This is so true! I have to say THANK YOU! pipmaster77. (I was 7 years with FXCM & just closed my Acct. Just signed with FXChoice.) You also wrote this:If you are a US resident or citizen, you have two choices: 1. Enjoy the trading freedom as the rest of the world by trading with an offshore, unregulated broker. This is due to the US government not allowing us to trade with any other regulated broker in the world. 2. Trade with the thieving, cheating, stealing brokers whom they regulate. Deposit 10 times more capital with the broker for margin,...

Hi USATrader007 I agree 100%. I have tried in the past to call FXChoice USA number
& all I get is a recording say voice mail is full. Have you had the problem? About
to swap of to FX Future market, but did try to contact FXChoice weeks ago before I made the swap.
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