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Which Broker to choose for US resident?

Dec 30, 2015 at 15:56
2,940 Views
43 Replies
Biedrs kopš   35 ieraksti
Dec 30, 2015 at 15:56
Hi,

I've moved to USA couple of months ago and hope will stay here for a long term.

I wish to trade on Forex and as I know there are som especial regulations regarding US residents trading on Forex, so which broker should I look at, or maybe there is some good topic regarding Forex Trading for US residents that I ought to read?

Thanks for your help in advance, have Happy New Year!

P.S. Are here any traders from USA? :)
¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
Biedrs kopš   4 ieraksti
Dec 31, 2015 at 07:16
fxcm
sahraei.forex@
Biedrs kopš   7 ieraksti
Dec 31, 2015 at 07:25
You have few choices. I would recommend you talk to Justin Hertzberg at Froest Park FX. He is an IB for almost all US brokers and can get you to the best broker for your needs and also get you discounted pricing. I've been using him as an IB for FXCM since June and been very happy.
Biedrs kopš   7 ieraksti
Dec 31, 2015 at 07:25
correction: *Forest Park*
Dec 31, 2015 at 11:44
Go with FXCM
Biedrs kopš   2299 ieraksti
Dec 31, 2015 at 20:30
Check Dorman Trading. Never had any issues. It is futures broker though.
Biedrs kopš   325 ieraksti
Jan 02, 2016 at 16:56
If you don't need MT4, I would highly recommend Interactive brokers. Low comission, very often positive slippage on limit orders, inkluding TP. Fast execution, and full transperency (including what liquidity provider matched the order), gives you max leverage that US regulations allow. Used them for half a year myself.
Biedrs kopš   10 ieraksti
Jan 02, 2016 at 17:56
Tallinex is great has been working great with me and send you email updates in everything you need at the end of the day on a daily even you p/l to the trades you put in I highly recommend it, took me forever to find a broker suitable for myself but at the end it was worth it now I can say I trade in peace
Biedrs kopš   98 ieraksti
Jan 02, 2016 at 18:11
Welcome BoneTrader again looking forward to see new booster man😄

A trader can be an economist but an economist could never be a trader. They are too theoretical.
Biedrs kopš   20 ieraksti
Jan 04, 2016 at 08:31
How about ATC Brokers?
HalleyFX
forex_trader_249603
Biedrs kopš   83 ieraksti
Jan 04, 2016 at 08:45
For US residents, I would definitely recommend the broker Tallinex.

I recently started a PAMM especially for US clients, due huge demand of people wanting their account to be managed by me.
Biedrs kopš   35 ieraksti
Jan 05, 2016 at 07:30
rahiths posted:
Welcome BoneTrader again looking forward to see new booster man😄

Hey, not sure it would be new Booster, due to specific requirements to US residents all brokers ask for the minimum of 2000$ deposit, I can not afford this amount to risk. :)

Regarding Tallinex - this broker is in offshore zone, meaning it is not regulated by any 'good' authority, so why should I open account with them when I can open one at regulated broker? For example FXCM, recommended couple of posts above is much better regulated broker with the same requirements and commissions.

I just want to know why Tallinex is that popular?
¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
Biedrs kopš   1 ieraksti
Jan 09, 2016 at 18:36
Oanda is the best in my opinion.
Biedrs kopš   11 ieraksti
Jan 10, 2016 at 10:59

I have had accounts with FXCM,Forex.com and Oanda.

I like Oanda the best.

Biedrs kopš   35 ieraksti
Jan 12, 2016 at 07:18
@wjwhite14
@price_action

Thanks, I just gave a quick glance at OANDA and it looks pretty good and interesting for their free APIs. But I couldn't find their account descriptions, could you please link it for me? Thanks.
¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
Biedrs kopš   11 ieraksti
Jan 13, 2016 at 08:10

BoneTrader,

I believe they just have one account type.

Trading on the FXTrade platform is performed in units, not lots. Thus, OANDA does not differentiate between standard, mini or micro accounts.

One unit is equal to one of the base currency in a currency pair. For example, one unit of USD/CHF is equal to one dollar and one unit of EUR/USD is equal to one Euro.

However, the MT4 platform does limit trade sizes in terms of lots:

1 lot = One standard lot = 100,000 units
0.1 = A mini lot = 10,000 units
0.01 = A micro lot = 1000 units

There are no minimum deposit required to trade with OANDA.

Spreads are variable and will widen during periods of volatility (such as news announcements) and during periods of low liquidity (such as off market hours).

You can review there spreads history at: https://fxtrade.oanda.com/why/spreads/recent

Hope this helps
Biedrs kopš   35 ieraksti
Jan 16, 2016 at 17:33
@price_action
Thanks! That definitely helps a lot.
¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
rob559
forex_trader_29148
Biedrs kopš   1916 ieraksti
Jan 27, 2016 at 18:57
HalleyFX posted:
For US residents, I would definitely recommend the broker Tallinex.

I recently started a PAMM especially for US clients, due huge demand of people wanting their account to be managed by me.

certainly a very good for us traders, this is my first choice
Biedrs kopš   25 ieraksti
Jan 28, 2016 at 07:54
I cannot reccommend LIVE account yet, but I have tried out some latency arbitrage trading on Vipro Markets (www.vipromarkets.com) and on LMAX feed it works very well. I am personally a Greek so you would have to check with them if they accept also Americans.
When I win I win small, when I loose I loose it all!
Biedrs kopš   35 ieraksti
Feb 02, 2016 at 12:16
@Garbriel21
What's the size of orders your dealing with? Is it always more then 1 full lot or less?

LMAX does not trade orders less then 1 lot, so if your are trading with less, it means your facing DD on the other side. Just FYI.
¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
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