I’m looking at moving to Alpari. I’m also thinking about putting my account into a corporate name. Does anyone know if Alpari will allow corporate accts for US corps?
Also, I realize there have been a lot of rules changes with more to come by the NFA. Has the UK (iow, the jurisdiction controlling Alpari) made any similar changes?? Is there anything I need to know about the UK or Alpari before I decide to open a small test acct there??
Thanks. I realize these are vague/naive questions, but I hoping to just get a general baseline of understanding here…but please be specific if you have answers to the above questions.
On another thread there was some talk about the banks in the uk, but nothing life changing. I think it was tymen that answered that.
I trade with ac-markets and they are a Swiss broker that will have the banking license by the end of the year and become a Swiss bank. They have offices in Geneva, New York, Zurich, Dubai and Montevideo�they are very good.
Thanks! I noticed that ACM does not offer MT4. I’m a lil partial to MT4 but I can be persuaded otherwise if reason warrants. Are there any reasons ACM’s platform is more useful than MT4?
Also, to anyone, what non-US MT4 brokers would you recommend?
Anyone use TradeStation? I used TS back when I traded stocks. I assume they will still be subject to the new NFA rules. However, they do have a UK branch…I wonder if that would not be subject to the new rules. Anyone know if a US party can open a TS UK acct subject to UK rules?
I’m also guessing that there are no FX ECNs who offer retail accounts via the MT4 platform…anyone? bueller?
I haven�t used mt4 yet because my broker won�t have it until this month, but ACMs platform won at the Banker Middle East awards held at the Emirates Towers in Dubai as the best trading platform� I think that says a lot
i also looking for a non-us broker. Currently i have an account with IBFX and very happy with their services and performance. But new FIFO and no hedging rules really made me to look for non-us broker.
Don’t rule out a U.S. broker with a wholly-owned subsidiary in another country. Consider FXCM (UK), for example.
FXCM (UK) is a wholly-owned subsidiary of FXCM (US), but they operate under FSA regulation in Britain, totally free of all the over-regulation of the NFA and CFTC here in the U.S.
FXCM (UK) allows scalping and hedging; they are not affected by the ridiculous new FIFO rules adopted by the CFTC; and they offer various account-types, including Micro and Standard Accounts.
For U.S. customers, account deposits and withdrawals are handled by FXCM (UK), and FXCM (US), in exactly the same way.
really? do they have no swap account? if yes…i don’t have to look for other brokers as fxcm is quite famous…and what is the minimum deposit for opening an account? do they use MT4 platform?
I don’t know the answer regarding No Swap Accounts. (I presume you are referring to an account that pays (or charges) a fee, instead of paying (or charging) interest on overnight positions.)
Yes, FXCM has an MT4 account, and the MT4 platform has been modified to match FXCM’s NDD (no-dealing-desk) trade execution protocol.
Minimum deposit depends on account type. For an MT4 account with FXCM (UK), the minimum deposit to open an account is
2,000 USD, GBP, EUR, AUD, or NZD, or 200,000 JPY.
Here are two pages from the FXCM (UK) website that might answer your questions:
I use three brokers for redundancy and diversifying my funds, Dukascopy, MBT and FXCM Active Trade.
My recommendation is to stick with commission based and ECN brokers.
Alpari-UK will not take US clients.
I already checked into it when the NFA crammed the no hedging rule
down our throats.
I expected it to be an easy process to transfer from the US office to
the UK office.
Nope.
Alpari-UK won’t even [I]consider[/I] taking US clients in spite of the NFA rulings.
So, I’ve been talking to Gallant FX.
Based in the US, but not members of the NFA.
They also have no intentions of joining them either…
I don�t get it, it doesn�t make sense transfer clients from a country to another without any existing reason, given the trouble that implies. Is there any new regulation US offices have to fill regarding clients that UK hasn�t?
