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Thread: Advice on Good Broker Based in US and Accepting US Clients

  1. #11
    Quote Originally Posted by ;
    quote No, just alternative is unregulated offshore brokers. Which, in my opinion are actually less risky. Reason is that I can have a $5,000 account offshore with all the trading power of a US account because of the 500:1 leverage. The remaining $45,000 remains in my bank until if/when needed. Since the funds are not protected with a US broker, that $45,000 that would need to sit with a US broker for margin is a lot safer in my own FDIC insured account.
    Pipmaster77,

    Much appreciated for taking the time...

    Therefore, when you said no, it implies US men cannot open accounts in offshore brokers that are regulated because they do not allow you to open the account together in the first place?

    Your approach is intriguing, i.e. using a small sum exposing it to riskeven when we lose it to get XYZ reasons won't make critical harm.

    But how can you handle the uneasiness of the non-regulated part of the off shore broker? Do you always withdraw profits, keep the amount needed? etc.. .

    Due

  2. #12
    Pipmaster, How does a US resident move funds with offshore ? I heard of numerous with this issue.

    Thanks

  3. #13
    Quote Originally Posted by ;
    Pipmaster, how can a US resident transfer funds with offshore ? I heard of many with this matter. Due
    I also agree as numerous online brokers does not accept payments from credit cards issued to the US citizens by US banks.

  4. #14
    Quote Originally Posted by ;
    quote I also agree as many online brokers doesn't accept payments from credit cards issued to the US taxpayers by US banks.
    Look into LMFX. I am a US based trader along with also my larger account is with Oanda but I also opened a smaller account a few months ago with LMFX so I could exchange Gold, Silver, Oil, etc.. Greater leverage, no FIFO. They are Offshore broker, accept US clients, and you can deposit and withdrawl through credit card or wire. I've had zero issues together and hearing others say great things about them. One of those long time effective US trader and mentor around at Forexsignals.com understands the CEO and is in constant contact with them. Do your due diligence and decide but just wanted to point out there are some choices for US traders. . At the conclusion some are not comfortable with going offshore but I am testing out with a small account but to date no issues.

    https://www.lmfx.com/

  5. #15
    Quote Originally Posted by ;
    3. Forex.com / Oanda - the two of these businesses are strong firms. Forex.com is publicly traded on the NYSE and has become the pioneer in FX because the beginning.
    FOREX dot com/Gain Capital Enforcement History United States:

    http://www.cftc.gov/Search/search?q=...ccess=pentqr=3

    Solid firm?

    They may even be worse compared to FXCM, if that's even possible.

  6. #16
    Quote Originally Posted by ;
    quote No, just option is unregulated offshore brokers. That, in my opinion are less risky. Reason is that I could have a $5,000 account offshore with all the trading ability of a US account because of this 500:1 leverage. The remaining $45,000 remains in my bank until if/when needed. Since the funds are not protected with a US broker, that $45,000 that will want to sit with a US broker for margin is a lot safer in my own FDIC insured account.
    It depends on in which the Parent Company relies. There are UK loed. They prefer to run certain of the business operations out of the UK, but are domiciled in another country out of UK authority, or a company domiciled outside of UK authority owns them.

    Additionally, if you are not put on with Timing a 500:1 leveraged position, you're going wiped out very fast. I would never imply such high leverage for a Newb, not understanding how to be consistently profitable. I would not talk to a Newb about such high risk rates of leverage until they could demone the ability to grow at least 20 percent per month on a constant basis.

    The average Newb Trader does not understand how to ascertain the dominant facet of this market, so that they end up being contrarian by default which could pose considerable problems for for mended risk/reward ratio Traders counting on trade probabilities that return a certain number of wins relative to an expected number of losses. That sort of high leverage, if deployed during a market stage that is transitory (between a dominant bullish or bearish opinion) could spell disaster fairly fast.

    The Newb have to understand how to Trade (first) and then take advantage of greater available leverage. They need to understand how to account for the MAE/MFE of their particular trading egy, method, tactic or platform and make sure that they never enter a position without the market having fulfilled more than 50% of the MAE phase. They are trading smarter and may create egies for scaling into and out of positions suitably and based on the empirical nature of the market - to guessing as a border.

    I only wanted to make that clear, after viewing 500:1 being used. That should come with a boilerplate caveat. In fact, you use it whenever referencing and can just cut and paste what I typed over. For the typical Trader, that will not be survivable under most circumstances. I can't even exchange that way an I trade with a high level of accuracy. They number just don't workout.

    An individual would need an ability to Time the entrance of a situation with such a high degree of continuous precision that doing so will in and of itself be a continuous miracle. Else, one goes back into the insanely stop, which runs each position taken into the certainty of the MAE itself.

    You can develop capital very fast in this business at 50:1. Together with MAE getting more corrosive over time which places also a reduction in Trade Availability and an increased premium on Timing, although insanely quickly at 100:1. So, the expansion curve will be stunted either way - but it will nonetheless be a growth curve over 15-dgrees (about 25-30 degrees is optimal), if a person has discovered how to exchange consistently.

  7. #17
    Quote Originally Posted by ;
    quote It depends on where the Parent Company relies. You will find UK loed companies that can accept US clients. They prefer to conduct certain of the business operations but are either domiciled in another country out UK authority, or a company domiciled outside of UK authority owns them. Furthermore, if you aren't put on with Timing a 500:1 leveraged position, you are going wiped out fast. I wouldn't ever suggest such leverage for a Newb, not understanding how to become consistently profitable. I would...
    Sorry for the confusion. While I refer to using 500:1 leverage, I thought I made it clearl only 10% of my funds is on deposit with the broker, therefore, in consequence, I am using 50:1 leverage. Difference is the rest of my funds sits in my bank and not with some controlled US broker who offers no protection of funds.

  8. #18
    Quote Originally Posted by ;
    quote FOREX dot com/Gain Capital Enforcement History United States: http://www.cftc.gov/Search/search?q=...ccess=pentqr=3 Solid firm? If that is even possible they may even be worse than FXCM.
    Absolutely right, at least as bad, if not worse than FXCM. This is what irritates me. They claim they are protecting the trader, but they allow companies to operate. Meanwhile, the genuinely solid brokers of earth are kept off limits to us because of these very same regulations. It is just the nanny state more being where they do not belong.

  9. #19
    Quote Originally Posted by ;
    quote Look into LMFX. I am a US based trader along with also my larger account is with Oanda but I also opened a smaller account a few months ago using LMFX so I could trade Gold, Silver, Oil, etc.. Greater leverage, no FIFO. They're Offshore broker, accept US customers, and you can deposit and withdrawl through wire or credit card. I have had zero problems together and hearing others say great things about them. One of those very long time successful US trader and mentor around in Forexsignals.com knows the CEO and is in constant contact with them. Again, do your...
    Just got off a conversation with LMFX.

    I always want to understand where my MT4 customer connects. I ran some quick networking evaluations.

    Tracert on the system which LMFX MT4 customer connects to will terminate at 206.54.172.94 in Texas, United States. That IP is part of a hosted block from The Digital Fountain BBS (Jean-Claude DeMars) dalmax tdf.net. For comparison purposes, I ran a trace on Swissquote Bank AG and its MT4 connection, That terminated at 52.28.239.20 in Frankfurt Germany, on a commercial Amazon box.

    I wondered how some of those offshore retail brokers would take care of the underlying MT4 latency problem for extended range connections and apparently, at least some of these that are accepting US customers also use VPS/VPN - which could be based in the US (which is quite interesting in a of itself).

  10. #20
    Quote Originally Posted by ;
    quote Absolutely correct, at least as bad, or even worse than FXCM. This is what disturbs me about US regulation. They claim they are protecting the trader, but they let companies for this to operate. Meanwhile, the solid regulated brokers of earth are stored off limits to people because of these regulations. It is just the state where they don't belong, once again being.
    We've long since passed on the mere nanny state. Some areas of the nation are now in fully disregarded Neo-Communism on the best way to get there as fast as they 30, while the different areas of the nation are working. The could've right-sided regulations to make things steady. However, they decided to finish it. That is fine. The financial markets will move on together and currency pairs will be traded world regardless of the Stalinism.

    Would you prefer to make a trade? Why yes, I'd. Your papers please. What papers? The papers that allow you to make a trade. I really don't have such papers. No papers. No trade. Look, the GBP is preparing to move. I'd love to make that trade. Sorry. But for what? Your papers are not in order. Then I shall go offshore and trade there. We've jeopardized all offshore entities with FACTA. Yeah, but not every offshore intermediary is subject to your threats. Then, we will nuke them. What! Yes. We will nuke them and ask for their papers, please.

    Stalin, could be so proud.

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