Best US Brokers

Broker Discussion Forex Brokers
24

Hi mate. Thanks a lot for the information, so if you right, robot trading, is actually the same as algorithmic trading and EA is the name for only MT robot traders?

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25

those are certainly the original meanings and how everyone i know uses the terms

but these days, especially in forums and on Youtube people use trading terms to mean whatever they like

this is why you see people talking about “scalping 4-hour charts” (lol) and other things like this

so … a quick look around the web to check that i’m not misinforming you, according to current parlance (and what better way to spend a few minutes on a Friday afternoon when all’s quiet on the western front?) easily found websites saying that the difference between “robot trading” and “algorithmic trading” is that “robot trading” actually enters the trades for you and “algorithmic trading” doesn’t, and websites saying that the difference between “algorithmic trading” and “EAs” is that algorithmic trading actually enters the trades for you and “EAs” don’t

so different people are using these terms with hugely conflicting meanings, clearly

but to the best of my knowledge the term “EA” is specific to MetaTrader

(but dobutless if you look hard enough, you’ll find a forum thread somewhere with a title like “i need an EA for TradingView” or whatever, lol!)

if you’re none the wiser, i can only say “neither am i”! :laughing:

26

Wwwhhaaat LOL 4h scalping :smiley: I prefer day trading on 1m candles :smiley:

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27

i’m in-between the two, myself, lol - the phrase “scalping 4-hour charts” still amuses me, every time i see it, though (professional scalpers usually don’t use timed charts at all: they’re on volume charts and/or tick charts; i can understand people in forums referring loosely to “scalping 1-minute charts”, though: they don’t mean literally “scalping”, of course, just “what has come to be known in some forums as scalping”!) :laughing:

28

Here is a good article about why brokers are so hesitant to take on US clients: Why dont more forex brokers accept us clients? | Forex Academy

" One of the primary reasons why many forex brokers do not accept US clients is due to the strict regulatory requirements set forth by the US government."

I have been using OANDA since I started trading 5 years ago, they’ve been nothing but professional, and even reach out as a courtesy, on occasion. Their customer service has been second to none.

I have recently signed up with Interactive brokers as I’ve moved to currency futures and stocks (they don’t accept US clients for forex either) but I have left a small amount in my OANDA account so that I don’t lose that account and can still play around with spot forex.

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29

that completely matches all my (much longer) history with Oanda

it’s the one brokerage i would really never hesitate to recommend to anyone here - and none of my colleagues/former colleagues would disagree with this (i still have an account there, myself, even though i now trade almost entirely futures)

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30

While offshore brokers may accept US clients, this doesn’t mean they should be. Take a look at the Dodd-Frank Act to see more details on how retail FX is regulated in the U.S.

U.S.-based traders open themselves to a lot of risks using a forex broker not registered in the U.S.

The simple question of how to transfer funds in and out of your account comes to mind. (Although withdrawals might not be an issue if one plans on blowing their account.)

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31

Scary thought (for some people): the owners and directors of those offshore brokerages that accept US customers might effectively be giving up their right to visit the US, given what happened to the owners of some offshore poker sites that accepted US players who visited America a few years ago and promptly got arrested there (i think they’re a bit more careful now about not letting US residents play!) :open_mouth:

32

I know it, yet, they are accepting clients! and the other user just asked which brokers accept US clients not which brokers should accept these clients!

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34

did you find one yet? I was just wondering because I am hearing a certain title a lot these days and I am not sure if thats a good one or not, so I dont wanna mention that here, just wanna know if you heard that too.