They’re saying its maintenance. Pretty sure it is. We’ll have to wait and see.
WHERE ARE THE NEW U.S. FRIENDLY BROKERS ?
Hey, keep digging comrades !! We need more broker choice …
[EDIT] I have been focusing most of my trading on FinProTrading.com
but I would like to see a competitor of comparable quality or more
liquidity providers which would yield narrower spreads during the
Asian session periods. For “high performance” trading, though, I
think FinProTrading is at the very top of the list !!
[EDIT2] I am restricting my comments to MT4 compatible brokers,
which we know will not be as fast as FIX brokers or other technologies.
Since I layer everything on top of NJ4X.com which drives MT4 and MT5
brokers, that’s what interests me.
hyperscalper
cyptyofx500 accepting from US
Thanks for the in-depth research.
Did you even bother to spell it right?
[EDIT]
I’ll help you out:
It’s http://cryptofx500.com and looks unimpressive.
They also seem to be selling a Mercedes…
Definitely does not inspire confidence.
Oh, well, maybe someone can fill in more info…
http://cryptofx500.com/trading-conditions/
h
I had a chat with their rep, and it seems they are using
TurnkeyFX as their “technology provider” which is the same
as FinProTrading, who also use TurnkeyFX. I asked about
commission and they can match $2/side with 400:1 leverage,
so I think I’ll open a test live account. They accept Ethereum,
BTC and bank wire transfer. Minimum account $200. I don’t
think they offer a crypto denominated account, so that would be
a transfer mechanism only.
[EDIT] Their “client portal” is down, the rep says being upgraded…
[EDIT2] Support rep says location is London.
[EDIT3] posting their MT4 “About” image
hyperscalper
TURNKEYFOREX.COM ADD TO APPROVED BROKER LIST?
I opened a Live account with TurnkeyForex.com and they appear to offer
the same terms and service as FinProTrading.com as they both use
(don’t get confused here !..)
TurnkeyFX.com as their backend service provider. As you know,
FinProTrading’s feed (and therefore TurnkeyForex’s feed) and
trading conditions are (in my experience) THE BEST AVAILABLE
to U.S. persons. So, with that in mind, TurnkeyForex.com already
looks good !
So… Clint can you provisionally put TurnkeyForex.com on our list
of available brokers, subject to some “promotion toward Trusted
status” which could occur a bit later on
as we are able to evaluate dealings with them? I didn’t notice it
on the list…
WHAT WE KNOW:
- They use TurnkeyFX as their service provider, the same as
FinProTrading.com - They offer $2 / side / standard lot commissions, same as
FinProTrading - They offer 400:1 leverage off the bat, which FinProTrading
will also match on request - Executions are incredibly reliable both on News and normal
trading conditions (same service provider as FinProTrading) - They offer a BTC wallet, and I think the rep also said
an Ethereum wallet; although by using ShapeShift.io we can
move from any crypto to a BTC easily…
[EDIT] Neither FinProTrading or TurnkeyForex offer crypto
denominated accounts, mine are USD so there is the conversion
from BTC to USD involved when crypto is used to transfer
funds. Personally, I don’t “invest” in crypto but just use it
as a funds transfer mechanism.
[EDIT2] FinProTrading’s customer support has been rough
lately, but I was able to chat with a TurnkeyForex rep immediately
and get issues resolved, so… just sayin’
So… although their website was a bit rough yesterday, I was
able to fully create and validate a Live acount with them today.
hyperscalper
Good catch, Paul.
Thanks for finding that one !
1 Like
[quote=“HyperScalper, post:4928, topic:35612, full:true”]
TURNKEYFOREX.COM ADD TO APPROVED BROKER LIST?
So… Clint can you provisionally put TurnkeyForex.com on our list
of available brokers, subject to some “promotion toward Trusted
status” which could occur a bit later on
as we are able to evaluate dealings with them? I didn’t notice it
on the list…[/quote]
Hello, H
I will get started on that later this evening.
Thanks for your research on TurnkeyFX !
[quote=“Clint, post:4930, topic:35612, full:true”]
I will get started on that later this evening.[/quote]
Done – see Group 1 on post #1.
Hi Clint. Maybe a stupid question…with over 4600 posts, it’s probably been covered… But…
Australia has a few reasonable Brokers such as Pepperstone and IC Markets and others which I am aware don’t allow access to US citizens.
Is the issue your actual country of residence or the country and currency where your bank funds are located.
ie: If you opened an account with an Australian Bank to deposit and withdraw from the Broker (in AUD) and transferred money back to the US via the bank (Card) and not the Broker…could this give a US Citizen access to the said Broker. This technique may be applied to other regions as well.
I know you can open Aust. accounts from overseas even if you reside in the US and not an Australian citizen.
"I live in the U.S., am not an Australian citizen or resident, and was able to open an account at ANZ Bank (their Access Advantage account) with ease. Several years ago I was visiting Australia, and decided I’ll open account on my next visit. I just visited again this year.
About two months before leaving I went to their migrant services website and applied online. The type of visa I have is a tourist (ETA) visa. Since I didn’t see that as a choice, I selected the closest visa to that. Their migrant services department in London called me. I explained that along with saying I didn’t have current plans on moving there. They were ok with that. I was not going to lie to the bank. Honesty is best. They provided me with logon credentials to view my account, but could not withdraw money until I presented my passport for ID verification at a branch. I also requested a Visa debit card. That would be available to collect at the branch I specified. Before I went to Australia, I deposited some money into the account using Transferwise".
[quote=“Trendswithbenefits, post:4932, topic:35612, full:true”]
Hi Clint. Maybe a stupid question…with over 4600 posts, it’s probably been covered… But…
Australia has a few reasonable Brokers such as Pepperstone and IC Markets and others which I am aware don’t allow access to US citizens.
Is the issue your actual country of residence or the country and currency where your bank funds are located. [/quote]
The criterion, in almost every case, is residency in the U.S. Most offshore brokers who refuse U.S. clients say specifically that they do not accept “residents” of the U.S.
Pepperstone, which you mentioned, does not use the word “resident”, but their policy has the same effect. Here is what they say:
“Pepperstone is not able to accept applications from applicants in the following countries: United States of America, New Zealand, Japan, Burma, Canada, Côte d’Ivoire, Democratic People’s Republic of North Korea, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Iran, Iraq, Lebanon, Liberia, Libya, Somalia, Sudan, Syria, and Zimbabwe.”
Over the years, we have vetted a long list of offshore brokers, including a long list from Australia, who will not deal with us. On post #3 of this thread, we list them. Here are the Australian brokers we have looked at – who will not accept us.
Ava Capital Markets Australia PTY Ltd (Australia)
Axi Trader (Australia)
Berndale Capital (Australia)
BMFN (Australia)
CLM - Core Liquidity Markets (Australia)
Direct FX Trading PTY LTD (Australia)
ForexCT PTY Ltd (Australia)
Forex FS (Australia)
Forex Nation (Australia)
Global Prime (Australia)
GO Markets (Australia)
Got Money FX (Australia)
Halifax Investment Services (Australia)
IBFX (Australia)
IC Markets (Australia)
IG Markets (Australia)
Kinetic Securities (Australia)
MXT Global PTY Ltd (Australia) — see Vantage FX PTY Ltd (Australia)
Pepperstone (Australia)
RubixFX (Australia)
SynergyFX (Australia)
Vantage FX PTY Ltd (Australia)
Expatriate Americans, who retain U.S. citizenship but reside overseas, face different – but, equally difficult – issues in trying to do banking and trading with offshore banks and brokers. All this is thanks to the U.S. Nanny State, and specifically to the FATCA regulations (which I won’t get into in this post).
1 Like
[quote=“Clint, post:4933, topic:35612”]
“Pepperstone is not able to accept applications from applicants in the following countries: United States of America, New Zealand, Japan, Burma, Canada, Côte d’Ivoire, Democratic People’s Republic of North Korea, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Iran, Iraq, Lebanon, Liberia, Libya, Somalia, Sudan, Syria, and Zimbabwe.”[/quote] Wow… that’s pretty sad… North Korea…
I just spoke to Pepperstone (from Australia) about this issue, they confirmed residence (DF act) is the issue (my apologies, should have done this the other way around) But… they did state that if you set your account up while in Australia and returned to the US there is not much they can do or prove some connection to a residence here, say business, holiday home, friends couch etc… it can possibly be considered. Got a place in Mexico…?
Cheers
1 Like
I thought that although many speak of “residency” as the
criterion; that the real criterion is being a “U.S. person” and
therefore subject to U.S. taxation and regulation.
I should use my secondary British passport and establish
"residency" in the U.K. then I’d be “golden” LOL
hyperscalper
1 Like
Hey HyperScalper… It’s only the Dodd-Frank Act which applies to US citizens that is the issue for trading with Aust. Brokers it appears.
Your IRS are every bit as predatory as our own ATO (more power than Police…) so you should talk to a US Accountant.
I can see a massive opportunity for an intermediary (Financial) between the States and OS…
I’m obviously not in the States, but from what I read, they are trying to get that act repealed?
…so maybe down the track.
RE: FIBOGROUP no U.S. persons
I visited their site from my Amsterdam VPS, was geolocated as
being in the Netherlands, so was redirected to their fibogroup.au
site. There I chatted with the rep, asking whether U.S. persons
resident in the U.S. could open Forex accounts. No. Then I asked
whether U.S. persons, resident, say, in the U.K. could open Forex
accounts, and NO that makes no difference. NO U.S. persons,
regardless of residency.
hyperscalper
it’s kind of hard to scroll up to get to the first page to see the broker list
AS IF TO INVIGORATE THE “RAISON D’ETRE” OF THIS THREAD…
I found this article in Forbes which I hope will rekindle the enthusiasm
which this thread represents, TO FIGHT OVERREACH and destruction
of Forex trading market opportunities for U.S. persons.
[EDIT] note this article is by Robert Green who has been mentioned
as having bias elsewhere in this thread…
hyperscalper