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Broker needed for USA clients. Must allow hedging and participate in rebates.

Professor53
May 26 2012 at 00:54
795帖子
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
Click on my Name to see My Live Charts and Bio.
Forex Investment Group/ Roberto Santori
forexboy
May 26 2012 at 11:37
22帖子
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
Professor53
May 26 2012 at 19:20
795帖子
Thanks..smile. Im exploring Hotforex and FxOptimax They dont advertise USA clients but offer 'other' country as a option.
Click on my Name to see My Live Charts and Bio.
Forex Investment Group/ Roberto Santori
forexboy
May 26 2012 at 19:54
22帖子
Hot forex is no longer accepting US clients and all existing US clients accounts are being closed June 5th

www.finfx in finland accepts US Clients but they have 7.00 commission fee per 100k traded
TacticalFX (mkeysor)
May 26 2012 at 20:56
12帖子
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
forexsoftwareshop.com
May 27 2012 at 12:35
13帖子
I watch that much, as things have been advantageous to be a U.S. citizen. This applies to forex, casino, bank accounts and other things.
www.forexproptrader.com
May 28 2012 at 23:16
25帖子
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.
Professor53
May 29 2012 at 05:33
795帖子
THANKS SO MUCH.
Click on my Name to see My Live Charts and Bio.
TacticalFX (mkeysor)
May 29 2012 at 06:15
12帖子

   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.
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.

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...
Professor53
May 29 2012 at 19:05
795帖子
Im hedging with a 2nd and 3 pair. But I cant trade with first in and first out ruling.
Click on my Name to see My Live Charts and Bio.
TacticalFX (mkeysor)
May 29 2012 at 21:16
12帖子
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%.
www.forexproptrader.com
May 29 2012 at 21:27
25帖子
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.
TacticalFX (mkeysor)
May 29 2012 at 21:40
12帖子
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.
PayPip (PayPip)
May 30 2012 at 01:08
28帖子

   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.
TacticalFX (mkeysor)
May 30 2012 at 05:29
12帖子

   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.
Professor53
May 30 2012 at 06:20
795帖子
Im still looking for rebates and hedging for a USA client.. Me and thousands of us are looking.
Click on my Name to see My Live Charts and Bio.
Professor53
May 30 2012 at 06:21
795帖子
I love HOtforex and thier program. BUT, I hear they are closing all current usa clients out on June 2.
Click on my Name to see My Live Charts and Bio.
Bill (BillP)
May 30 2012 at 11:57
33帖子
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.
"To have more money in the account this Friday than we did last Friday"
kpearson
May 30 2012 at 18:27
1帖子

   Professor53 posted:
   Im still looking for rebates and hedging for a USA client.. Me and thousands of us are looking.
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.
Forex Investment Group/ Roberto Santori
forexboy
May 31 2012 at 13:11
22帖子
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..
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