Can anyone recommend a good regulated forex broker that:
Accepts US Clients
Has Demo Accounts
Has Negative Balance Protection
Has Stop Loss Protection
A broker meeting all criteria is desired but 1-3 are non-negotiable. I have exhausted my brain trying to find one and just when I think I have one, they don’t accept US Clients. Then when I find one that does accept US Clients, their negative balance protection isn’t extended to US Clients. I’m a new trader and I don’t plan on opening a live account until I have a firm handle on how to trade, meaning, I will need to consistently grow a demo account before going live. But when I do eventually go live, I want certain protections in place so I don’t end up owing the broker money if things happen to go sideways. Does anyone have any brokers they could suggest looking at?
Thanks for responding Greg. So, as I understand it, a guaranteed stop loss is a protection feature that that no matter how volatile the market, say like during NFP week, the trade you’ve placed won’t be allowed to go beyond the stop loss you’ve set. Without this feature, from my understanding, there can be a slip or if movement happens too quickly and there’s no one there to catch said movement before it goes beyond the stop loss you’ve set it will cause you to lose more money than you intended. Sometimes a lot more. Some forex brokers will have the guaranteed stop loss feature but won’t have negative account balance protection while many of the ones who have negative account balance protection won’t have guaranteed stop loss protection. I’d like to find a broker with both but if I can’t, I’ll settle for one that has negative account balance protection for US Clients.
It is hard to find broker with sl guarantee. US citizens are protecting by USA government, that is why you have a problem with find broker. There is one tip I can give you, try to find regulating broker, which have other company in offshore country. I really doubt that broker with good position on the market, trying to play unfair with clients, especially the brand logo is the same or very similar.
Thank you. SL Guarantee isn’t necessarily a deal breaker but they have to at least have negative account balance protection while still accepting US Clients. Know of any?
Try TD365. It’s SCB regulated, has fixed spreads on the Cloud platform - also a MT4 platform, no commission charges.
Plus negative balance protection. (IMO, margin control protection is the best).
The difficulty with S/L protection is that most broker firms do not have the technical facility to action a black swan event triggering off a S/L at the exact position. Possibly, Goldman Sachs could have the state of art servers that process ‘instantaneous’ action, otherwise you’re in a queue, which is not the broker’s fault.
A regulated forex broker in the US must be a member of the NFA and be regulated by the CFTC. FOREX.com has been in the business since 2001 and operates in strict trading environments. We can understand that just starting to learn how to trade can be overwhelming and support all types of traders accordingly. Not only do we offer demo accounts, but also provide heaps of educational material on our website for assistance. Our support team is available 24/5 during the week to help as well. To learn more, please reach out to our support team by phone, live chat, or email.
Do proper research before you choose any broker! A broker may call them the best option for you but they may or may not be that in reality. It is up to you to decide what you are looking for.
Make use of the brokers’ micro accounts to test all these features. If you are looking for making forex trading a long-term career, I don’t think you will mind taking small risks to make the right choice.
Nearly all brokers have demo accounts these days. Rest, you can find about them on Google. If you want, you can also check their customer reviews to be sure.
