Correct. Trading Point was removed from our List in early February.
Thatās a surprise. I didnāt see anything on their website to indicate that.
I went as far as starting the online application process to open a live account. Their website accepted my āUnited Statesā nationality. I guess they need to amend their little drop-down menu to remove āUnited Statesā from the list of choices.
Hereās a screen-shot.
However, if you have been told that they will not accept you, then thatās that.
Iāll put them on the List in Group 2 (brokers who will not accept U.S. clients).
Are you comfortable with FXVV? In your opinion, should they be added to Group 1?
BulBrokers.com: yeaā¦ i registered live acc. went thru, but within 24hrs. got denied US clients from them.
FXVV: I have been trading live mini account leverage 1:1000, fast execute, spread under 1pip, commission charge 0.08 (under 1pip). All accounts are ECN (no non-ECN). Anyway, iām happy with FXVV.
Thanks.
I will add FXVV to the āgood guysā list, and Iāll put Bulbrokers on the ābad guysā list.
Look for an update to the List in the next 24 hours.
I recently joined FinFX only to find that their Micro account spreads are horrendous, and the ECN account, which has better spreads, has a minimum lot size of 0.1 lots, which is not useful for my trading style (I require a 0.01 minimum lot size). They were not willing to work with me at all in either lowering the spreads in my Micro account, or changing the minimum lot size if I were to upgrade to an ECN account. I was also unhappy with their 2.9% fee for credit card deposits.
Can someone recommend a decent broker that might be able to accommodate the type of account Iām looking for? HotForex was great while it lasted.
Hello to everyone here! My name is Alex and iĀ“m a represantive of FX Choice. If you have any questions concerning our brokerage please feel free to post here and i will try to reply as fast as possible. I hope it is okay with forum rules, if not just letme know. I hope that i can help you.
Kindly regards
Alex
Hello, Alex, and welcome to this forum.
I assume that you have reviewed our List of Offshore Brokers (the first three posts in this thread). In the case of FX Choice, have we listed everything correctly?
We have listed FX Choice as a broker who accepts U.S. residents as clients. Is this correct, and do you expect to continue accepting U.S. clients in the foreseeable future?
Can you tell us anything about your regulator (the IFSC), and how FX Choice is regulated?
Do you have a system for segregating customer funds? Or, are customer funds commingled with the funds of
FX Choice Ltd?
If you are the official representative of FX Choice, you can get yourself set up in the Broker Aid Station sub-forum, along with about 10 other broker representatives, already there, who use that sub-forum to answer questions and make announcements.
To do this, you will need to contact the Babypips administrator, and present your credentials. After they check you out, you will be set up, and FX Choice will have a presence in the Broker Aid Station sub-forum.
In the meantime, Iāll look forward to your answers to my questions, here in this thread. And, again, welcome.
Hello Clint,
thank you very much! Yes everything is correct. Spreads on our ECN accounts start from 0.0 pips. We still accept US clients and we will do as long as possible. Up to know there are no reasons why we should stop. We are regulated by IFSC, the financial authorities in Belize.
Customer funds are held in segerated accounts with several banks in the european community. We have several big and well known liquidity provider giving us and our clients very good trading conditions. We use state of the art bridge technology so that we are not only able to offer very tight spreads but also a very fast execution of order.
Thank you for your hint concerning the Broker Aid Station.
Regards
Alex
Thanks for the reply, Alex. Weāre glad to have FX Choice on our List of Offshore Brokers.
And thanks to bravehoststamps for bringing FX Choice to this thread over a month ago.
Hi Alex, just curious is FX Choice currently being sued by the USA CFTC?
thanks
The CFTC would lack legal grounds for it, as it appears to me. The country of FX Choice domicile - Belize - is not a signatory to the IOSCO Multilateral Memorandum of Understanding, so what would the CFTC rest their case on?
Thanks for info
pcguy,
You may be wondering why the CFTC is suing MF Financial (in Belize), and not suing FX Choice (also in Belize).
MF Financial maintained an office in New York, which constituted a āU.S. presenceā under CFTC rules, and allowed the CFTC to assert jurisdiction. In the CFTC Press Release detailing their āsweepā of 11 so-called illegal forex brokers, they list MF Financial this way: āMF Financial, Ltd., a Belize company with offices in New York Cityā.
As far as I know, [B]FX Choice[/B] does not have any āU.S. presenceā to be concerned about.
Iāve lost 2 great brokers in the last couple of months.
Trading-point and Traders trust, they were sued by CFTC and didnāt have any us based connections
weird
this CFTC law needs to be overturned, what a nightmare to find a trustworthly broker
They were both Cyprus-based if memory serves me and Cyprus is a signatory to the IOSCO Memorandum: IOSCO Library Section
Vote for Romney. He has said he would repeal frank-dodd
Yes vote for āRā and letās take back Senate, too!!!
you guys probably read JPmorganās $2 billion loss by betting the economy would improve and debt would lessenā¦what a joke! Glad most of the people here are in profit with their various strategiesā¦BTW, Iāve been with Finfx for 1 month, and like them very much!
Canāt vote for āRā for many reasons beyond Fx.
Taking a long view of Dood-Frank, we only need to look at Glass-Siegel. A systematic weaking of G/S was done over several decades and I expect the same of D/F. The JPMorgan disclosure actually underscores D/Fās intention even through the implementation stinks.
I think the small investor should be left aloneā¦ The large firms on the other hand should be policed and good responsible behaviour rewarded.