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Oanda vs FOREX.com vs any other broker for US clients

  • #21
  • Feb 28, 2017 6:44pm Feb 28, 2017 6:44pm
Quoting PoundTrader
{quote}once the u.s. regulators start to investigate forex.com thery will find out there worst then FXCM and they too will be out in the u.s.a leaving us with one broker
After 2 days, I don't understand how FOREX.com has any customers. So far, I've not found one thing to like about them. Of course, I had the same opinion in 2010. Some things never change I guess.

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  • #22
  • Mar 24, 2017 6:29pm Mar 24, 2017 6:29pm
Myfxbook says now only Tallinex and FxChoice accept US clients now. Is this true? Oanda and Forex.com both accept US clients right?
  • #23
  • Mar 24, 2017 7:06pm Mar 24, 2017 7:06pm
Quoting littleart
Myfxbook says now only Tallinex and FxChoice accept US clients now. Is this true? Oanda and Forex.com both accept US clients right?
Tallinex does not.
  • #24
  • Mar 24, 2017 10:58pm Mar 24, 2017 10:58pm
Quoting hilmy83
{quote} then oanda will get greedy knowing it's the only player left, start to raise spreads even more and the they get kicked out for screwing people over then what? forex is dead in the US
i think that's the plan, to get rid of forex in the u.s.
  • #25
  • Mar 24, 2017 10:59pm Mar 24, 2017 10:59pm
Quoting FlyingTurtle
{quote} Tallinex does not.
tallinex stop taking u.s. clients months ago, but there is tradersway and fxchoice ver good brokers IMO
  • #26
  • Apr 17, 2017 4:29pm Apr 17, 2017 4:29pm
Quoting FlyingTurtle
{quote} That's similar to my experience with them back in 2010, but figured by now they could be different. FXCM would hunt SL too and I have a folder of screenshots documenting it on the tick charts (which I loved about Trading Station). I think they all stop-hunt. I'm pretty sure GAIN was the only broker to make a profit on the Franc Peg break and the reason for that is they trade so heavily against their clients. FXCM didn't have the hedge that GAIN had and consequently went under. My opinion is that FXCM learned their lesson from that and began...

i don't know if that is totally true! FXCM was being a MM but wasn't telling people, so they were against traders. I found my account one time have opposite positions on it by accident they showed me they were on the other side or it was passed on to someone else. I questioned them but they always play dumb. This is why FXCM is out. Lying!
  • #27
  • Apr 17, 2017 4:34pm Apr 17, 2017 4:34pm
Quoting littleart
Myfxbook says now only Tallinex and FxChoice accept US clients now. Is this true? Oanda and Forex.com both accept US clients right?

I opened with a few of them accepting U.S. but they are even less trustworthy. The less than trustworthy part isn't MM type more than not getting money back or account platform freezes or account closure due to profiting.
  • #28
  • Apr 17, 2017 4:35pm Apr 17, 2017 4:35pm
Quoting PoundTrader
{quote}i think that's the plan, to get rid of forex in the u.s.

Getting rid of retail fx everywhere! It will go back to control of huge money, maybe. 100k to open a ECN account with FOREX.com
  • #29
  • Apr 17, 2017 4:43pm Apr 17, 2017 4:43pm
[quote=FlyingTurtle;9593426]{quote} That's similar to my experience with them back in 2010, but figured by now they could be different. FXCM would hunt SL too and I have a folder of screenshots documenting it on the tick charts (which I loved about Trading Station). I think they all stop-hunt. I'm pretty sure GAIN was the only broker to make a profit on the Franc Peg break and the reason for that is they trade so heavily against their clients. FXCM didn't have the hedge that GAIN had and consequently went under. My opinion is that FXCM learned their lesson from that and began trading against their clients, then got in trouble for it. Ironic that the real "criminal" is GAIN while the most moral of the 3 was banned. Anyway, I'm left with 2 evils from which to choose. So far, it seems one is as good as another. I even chatted with the reps from each broker and neither had any idea why I should choose them.[/quote

I think FXCM was always a MM even before the peg. I found it all the time on my account even 4 years back
  • #30
  • Apr 17, 2017 5:26pm Apr 17, 2017 5:26pm
The vast majority of the fx brokers trade against you (why wouldn't they - it is hugely profitable and legal). That alone is not the issue.
  • #31
  • Apr 18, 2017 12:51pm Apr 18, 2017 12:51pm
[quote=TraderThomas;9769297]
Quoting FlyingTurtle
I think FXCM was always a MM even before the peg. I found it all the time on my account even 4 years back
Hi Thomas,

If FXCM were acting as a market maker on NDD forex execution we would not have suffered more than $200 million dollars in losses during the SNB flash crash. On NDD forex execution, every order is offset one-for-one with a liquidity provider. The trader has a position with FXCM and FXCM has an offsetting position with the liquidity provider. When the trader went into a debit balance, that meant FXCM also had a debit balance with the liquidity provider that had to be covered. So what you are implying is at odds with what actually happened.

It should be noted that FXCM offers both No Dealing Desk and Dealing Desk forex execution. Our mini accounts offer dealing desk execution and the standard accounts offer NDD forex execution as listed in the account comparison.

Jason
  • #32
  • Apr 18, 2017 2:26pm Apr 18, 2017 2:26pm
Quoting Jason Rogers
Quoting TraderThomas
{quote} Hi Thomas, If FXCM were acting as a market maker on NDD forex execution we would not have suffered more than $200 million dollars in losses during the SNB flash crash. On NDD forex execution, every order is offset one-for-one with a liquidity provider. The trader has a position with FXCM and FXCM has an offsetting position with the liquidity provider. When the trader went into a debit balance, that meant FXCM also had a debit balance with the liquidity provider that had to be covered. So what you are implying
...

Yes! same thing just a different way I think. You still have the opposite against me just through the provider. Isn't that what FOREX.com does? In terms of SNB, I don't know but maybe since you were sort of a MM you couldn't get the liquidity to offset. Wasn't the reason for FXCM leaving was because they were doing this? Saying they weren't a MM but then actually were, just through elsewhere?
  • #33
  • Apr 19, 2017 5:35am Apr 19, 2017 5:35am
i see nobody talking about interactive brokers for US traders. yes, their minimum deposit is higher, their charting capabilities requires LOTS of reworking but again have your charts set up with mt4 and trade with from a different platform. Did that many years with MB trading as a trading platform. They are gone now
  • #34
  • May 13, 2018 6:52am May 13, 2018 6:52am
Just checked IB website, for US residents forex is not available anymore.
  • #35
  • Last Post: May 14, 2018 4:47am May 14, 2018 4:47am
I would recommend staying away from FOREX.COM-- There is Nothing worse then to open up your trading platform-- and see you funds all moved to a "new account" and no support to access it. You can see from my userid I'm not new to this "game". What makes it worse is their response is "we told you so" by email-- I have searched and searched and it doesn't seem to ever be one sent... Yes I am venting and do apologize--> But scams are real and Expensive...
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