Any Value Broker Recommendations for GBP/USD?

Broker Discussion Forex Brokers
#1

Does anyone have any US resident accepting offshore broker recommendations primarily for GBP/USD? I’m thinking solid liquidity and low fees (spreads, commissions and any other fees).

I’ve done a little homework, and the brokers still on my list include:

  1. Dukascopy (Savvy Professor on YT says the minimum deposit is $100k, but that is for API access. The minimum deposit for a trading account is $100).
  2. GO Markets
  3. LQDFX
  4. HankoTrade
  5. AVATrade (one source had their GBP/USD spreads at the lowest at 6 points on average (0.6 pips), but not sure if that is true).

I plan to put in $5k and leverage it just enough to put in trades that represent a $250 loss if I get stopped out on a 1-3 minute time frame (POI related to higher time frame positioning, of course!). Once I get that system rolling, then I will look to increase the stop loss amount, which will additional deposits or more leverage.

I want to do this as inexpensively as possible, considering all related expenses and potential expenses.

TIA…

#2

You could try TD365, a UK broker which is regulated at SCB abroad. However, Client funds which are segregated from TD365.com working capital,are held in UK Barclays Bank.

This broker offers Major FX pairs fixed spreads, and GPB/USD could be expected to be competitive in comparision with other brokers.

#3

Thanks for the TD365 recommendation, but I just got off of chat and they typed the following:

“Hi there! Unfortunately, due to jurisdiction reasons we do not accept clients resident in the USA.”

#4

Ouch, sorry about that. As at 2022, Interactive Brokers UK (UK entity, same parent company as USA) offers taxable brokerage and ISA accounts (but not LISA). They do not support SIPPs for US citizens.