Broker needed for USA clients. Must allow hedging and participate in rebates.
Miembro desde Dec 15, 2010
posts 795
May 26, 2012 at 00:54
Looking for a Broker that allows USA clients ( me and many others). Must allow hedging and allows rebates. Id like to have great leverage and small start up deposit for the average Joe. I have a home built EA that goes through alot of pips in trading, to make a good profit. ( 6 pairs) s, a rebate would be nice to maximize my bank balance and growth. I may be dreaming of this type of broker, but im trying. Small pip spread on the majors would be a bonus. Thanks Garry
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forex_trader_2934
Miembro desde Nov 11, 2009
posts 22
May 26, 2012 at 11:37
you are dreaming my friend.. Forex is dead for US clients as far as all the advantages for so many years we were able to enjoy.. Move to another country. You just need residency and a bank account
Miembro desde Dec 15, 2010
posts 795
May 26, 2012 at 19:20
Thanks..smile. Im exploring Hotforex and FxOptimax They dont advertise USA clients but offer 'other' country as a option.
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May 26, 2012 at 20:56
FinFX does accepts US clients, they charge a 7 commission per roundturn lot ONLY on ECN accounts. Their micro accounts do not charge commission, but the spreads are still very good. This is an awesome broker spread tool myfxbook has: https://www.myfxbook.com/forex-broker-spreads.
They offer 200:1 leverage, They allow hedging and EA's. I haven't traded with them for too long because I was with Hot Forex until they said they stopped accepting US clients, but have been really impressed with their customer service.
I use a VPS and have great execution, I use Commercial Network Services. Here's their broker latency chart: https://helpdesk.commercialnetworkservices.net/index.php?_m=knowledgebase&_a=viewarticle&kbarticleid=174
You asked about rebates, I use Rebates Forex gives .24 pip back on Micro accts and $.60 back on ECN per lot. They usually pay me before the 10th of the month. https://www.rebatesforex.com/brokers/finfx
They offer 200:1 leverage, They allow hedging and EA's. I haven't traded with them for too long because I was with Hot Forex until they said they stopped accepting US clients, but have been really impressed with their customer service.
I use a VPS and have great execution, I use Commercial Network Services. Here's their broker latency chart: https://helpdesk.commercialnetworkservices.net/index.php?_m=knowledgebase&_a=viewarticle&kbarticleid=174
You asked about rebates, I use Rebates Forex gives .24 pip back on Micro accts and $.60 back on ECN per lot. They usually pay me before the 10th of the month. https://www.rebatesforex.com/brokers/finfx
Miembro desde Oct 28, 2011
posts 25
May 28, 2012 at 23:16
There are several decent USA mt4 brokers available that will allow rebates on your trading volume. Please let me know if you are still searching for one.
Miembro desde Dec 15, 2010
posts 795
May 29, 2012 at 05:33
THANKS SO MUCH.
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May 29, 2012 at 06:15
That's true there are several decent USA brokers, but the Professor is looking for the ability to hedge as well, which isn't allowed under Dodd-Frank. But I believe you can with FXDD, they don't call it hedging though and they have it reported different to follow FIFO rules. I'm currently 'hedging' on a FXDD demo acct, it might not work when it comes to their live accounts, you'll have to try it out for yourself. Or if anyone else has experience of 'hedging' on a FXDD live acct, chime in.
forexproptrader posted:
There are several decent USA mt4 brokers available that will allow rebates on your trading volume. Please let me know if you are still searching for one.
One simple way to get around this is to have $10 million invested and then you don't have to play by the CFTC rules. Easy enough right? I'm glad they're looking out for the smaller investors. Sarcasm? Possibly...
Miembro desde Dec 15, 2010
posts 795
May 29, 2012 at 19:05
Im hedging with a 2nd and 3 pair. But I cant trade with first in and first out ruling.
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May 29, 2012 at 21:16
I would say FinFX is going to be your best choose if you're hedging. That's who I'm with and all my trading involves hedging. There's a few IB's that give rebates for them, Rebates Forex has the best rebate rates, but I haven't looked super hard so I'm not 100%.
Miembro desde Oct 28, 2011
posts 25
May 29, 2012 at 21:27
Why not try a USA broker? CFTC has made it clear that USA traders can only legally trade with USA FX brokers. There are USA brokers that allow hedging and rebates on your volume.
May 30, 2012 at 01:08
mkeysor posted:
The only US broker that I know you can hedge with, at least on the demo accts, is FXDD. But they don't call it hedging. Who are these brokers? I know you can't with IBFX.
A hedge is nothing more than reducing risk with an offsetting investment. You can hedge with any broker. The only thing you can't do is take up opposite potions on the same pair.
I just trade.
May 30, 2012 at 05:29
PayPip posted:
A hedge is nothing more than reducing risk with an offsetting investment. You can hedge with any broker. The only thing you can't do is take up opposite potions on the same pair.
Yes, I understand that. But when brokers talk of allowing hedging or not they are talking about opposite positions with the same pair. I make good side money with an EA and it hedges opposite with the same pair. So US brokers don't work for me, but maybe FXDD. It works on their demo accts.
Miembro desde Dec 15, 2010
posts 795
May 30, 2012 at 06:20
Im still looking for rebates and hedging for a USA client.. Me and thousands of us are looking.
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Miembro desde Dec 15, 2010
posts 795
May 30, 2012 at 06:21
I love HOtforex and thier program. BUT, I hear they are closing all current usa clients out on June 2.
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May 30, 2012 at 11:57
Just be careful with FXDD. I am now in my 14th day waiting for my withdrawl from them.
On the phone yesterday with them and first they tried to say that the withdrawl went to my bank on May 17 and that it is my banks fault. Once I explained to them that the banks did not receive the funds, they put me on hold for 24 minutes, then came back and said, 'Interesting, we will look into it, we may have made a mistake on our end, we will have to get back to you'.
Very shady, very very shady.
Going to CFTC within 24 hours if the funds are not in my account.
Just be aware.
On the phone yesterday with them and first they tried to say that the withdrawl went to my bank on May 17 and that it is my banks fault. Once I explained to them that the banks did not receive the funds, they put me on hold for 24 minutes, then came back and said, 'Interesting, we will look into it, we may have made a mistake on our end, we will have to get back to you'.
Very shady, very very shady.
Going to CFTC within 24 hours if the funds are not in my account.
Just be aware.
"To have more money in the account this Friday than we did last Friday"
forex_trader_76888
Miembro desde May 08, 2012
posts 1
May 30, 2012 at 18:27
mkeysor gave good advice. FinFx will have very similar spreads to Hot Forex, they accept US clients, allow you to hedge the same pair, offer 200:1 (unlike US brokers that can only offer 50:1), and you can sign up an account through an IB and get rebates. Google search 'FinFx rebates' and you'll find one. I was with Hot Forex, like you, and decided FinFx was going to be the closet thing to it that still accepted US clients.
Professor53 posted:
Im still looking for rebates and hedging for a USA client.. Me and thousands of us are looking.
forex_trader_2934
Miembro desde Nov 11, 2009
posts 22
May 31, 2012 at 13:11
I agree with mkeysor. Finfx is by far the best choice. I opened a Pamm account mt 4 platform is as good as any. Would like to see more pairs and Indices but they offer Gold and silver. Easy to open account , all done online. I was approved in hours after I scanned and emailed the IDs and bank statement..
