No; we have a lot more experience with the government now. My advice now is to not tempt an angry pit-bull and that is what the government has become. They are killing unarmed citizens now, that hasn’t happened in a while. My advice is to find another small country to live out the next 10 years or so. Bad stuff is coming and the government is not your friend. Good luck my friend.
Bob
I’ve enjoyed trading a live account with [I]Forex Broker Inc[/I] for several months now and can honestly report they have been Johnny on the spot for me without exception. I believe their team might be smallish, but I’m pleased with their consistent performance. I will warn they don’t do much hand holding, or provide much instructional material and tend toward bare boned answers(again, maybe a bit understaffed as they’re growing), but it’s been my experience that they’ve proven to be an honest and hard working crew. All my many questions have been satisfied in ways that have stuck with me. Every client is assigned a dedicated account representative, whom I assure you, will not hesitate calling you if better served. Mine is Ms Lisa Book.
If you prefer clear, uncluttered and transparent support as I do, then I’d recommend [I]Forex Broker Inc[/I], without hesitation:57:
P.S. I love participating in their “Free Roll Forex Tournaments”. They always have good incentives and like everything else with them, they make it so simple and easy to participate! You can join in without a live account. Go convince yourself and demo them. You’ll find decent spreads, no holds bard hedging and scalping(my fav). I promise, the first thing that will strike you will be how simple they’ve made registering with them, which you’ll discover is a continuing theme from then on. And nope, they didn’t pay me for this impromptu review, I just appreciate the heck out of being served so well and I’m a US citizen:5:
As [I]forex assistant[/I] has posted, [B]Lucror FX (New Zealand)[/B] no longer accepts U.S. residents as clients. I’m in the process of confirming this by email with the support staff at Lucror. This broker will be removed from Group 1, and moved to Group 2, in the Offshore Broker List.
Also, the broker called [B]FXM Broker Group[/B] (shown in our List as domiciled in the U.K., but apparently operated out of Costa Rica) has disappeared. This broker will be deleted fom our List (not moved to Group 2).
Lastly, [B]RV Markets[/B] (shown in our List as domiciled in Hong Kong) has disappeared. This broker reportedly morphed into UPME Group Ltd, operating as FXUP ME (British Virgin Islands) — where they claim to be a BVI-regulated forex broker. However, this Advisory Warning from the BVI Financial Services Commission advises that, although this broker [I]is[/I] a BVI business, they are [I]not regulated[/I] (as they claim) by the BVI FSC. RV Markets will be deleted from our List (not moved to Group 2); and fxUPme (not to be confused with fxUPyours) will be ignored for now.
The List will be updated later tonight, or tomorrow. Edit — Updates have been done.
[I]VanessaC,[/I] thanks for your input on ForexBrokerInc. Reviews such as yours are [I]gold[/I] on this thread. I will add a reference to your post (#1994) in the listing for ForexBrokerInc.
I am glad you had a much better experience that I did. This is exactly the reason why I tell people to ignore what other traders say about a broker and make their own experience. You had a positive one, I would tell people to stay away and in the end each trader needs to make that call for themselves 
Your position must be respected and who doesn’t despise rudeness, especially when you’re hoping for assistance. I would though, think it apropos to take most any chat tech with a grain of salt when intending to pass along knowledge in such a public forum, not that you should have to, but yea, a single person in a moment of time, might not be expected to represent the total worth of a larger group. He obviously failed not only you, but also himself(herself) and the brokerage house. I can’t imagine what they must go through though. For me, they always respond with a yes ma’am or no ma’am, followed with highly capable knowledge.
I know you work hard at being fair and I for one, certainly haven’t been at times. But I’d be interested in finding out what you think about FOREX Broker Inc, by chance you’d spend more quality time with them. Seriously, it was by opinions posted here that I first considered them. Since then, I’ve seen posted some pretty hard questions I’d love to have answers to that I never thought to ask.
With much appreciation and respect for you,
V…:39:
I have never dealt with them so I can’t really give you a response about them which would be constructive. I may take a look at them, but I think there are several members who can give you a much better opinion about them. Have you dealt with them? In the end it really depends on what you think about them regardless of what others say.
FB is only two years in business and striving to find reasonable regulation in a harsh environment, that’s the cons. On the pros side, they are offshore, a US scalper’s haven for lack of regulation allowing scalping & hedging galore, with near flawless ECN order executions(I don’t know how to measure slippage) and 1:500 leverage on their Platinum accounts, which I have. They segregate client funds and tout unfettered transfers. I’ve actively day-traded live with them for a number of months satisfactorily, but haven’t had a cause to transfer funds as of yet.
Clint brought up the specter of how the Cyprus debacle might relate to brokerages on Malta, where FB is located. Frankly, this issue has been on the back of my mind. How vulnerable the Mediterranean region is, needs deep analysis. Though our world is getting smaller by the day it would seem, my wish is for these types of “in-your-eye” brokerages have a good go of it. I can think of easier, less stressful business to be in.
V…:42:
It is good that you trade with a broker you trust.
I don’t mean to belabor this, but it seemed to me important to ask [I]Forex Broker Inc[/I] to discuss the obvious banking woes in the Mediterranean region. The following chat support session lasted 34min and 20sec
I refer this to more experienced investors to comment on.
info: Please wait for a site operator to respond.
info: You are now chatting with 'forexbrokerinc’
forexbrokerinc: Welcome to Forexbrokerinc, how can I help you?
you: thank you, I’m Vanessa and have a demo account. The spreads are consistently around 1.4 to 1.7, is that what I can expect in a live account? The pair this is off is the USDJPY
forexbrokerinc: that’s the highest spread we offer
forexbrokerinc: demo account is based on VAR Platinum account which has the highest spread
forexbrokerinc: ECN Gold Account spread is as low as 0.3 pip (typical 0.8) + commission 1.5 pip. For ECN Platinum Account 0.3 pip (typical 0.8) + commission 1 pip. Variable Platinum Account minimum spread in 1 pip (typical 2), no commission
you: which one is my demo?
forexbrokerinc: Variable Platinum
you: The EURJPY is showing 3.5 and USDJPY 1.7
forexbrokerinc: it’s 1.8 on ECN Platinum
forexbrokerinc: if you hold a demo account you have Var Platinum
forexbrokerinc: that’s the only possibility
you: so my current spread for USDJPY 1.5 for platinum would be the same live?
forexbrokerinc: it depends which account you will chose
forexbrokerinc: if Variable Platinum it will be the same
forexbrokerinc: if ECN Gold or Platinum it will be lower
you: is it NDD?
forexbrokerinc: yes
you: STD or ECN?
forexbrokerinc: STP and ECN
forexbrokerinc: you are welcome to use this service obtained by any VPS provider
you: what is the minimum for the VP account
you: minimum deposit that is
forexbrokerinc: it’s $5 for all the account types
you: I have a Gold account with you guys, just need to fund a Platinum. It would suit me better
forexbrokerinc: you can transfer funds between accounts
you: can you answer a tough question for me?
forexbrokerinc: I will try
you: Thank you
you: What risks do FB face in light of the Cyprus debacle?
you: I recommend you guys to everyone and I get this question all the time
you: what is your risk exposure in the Mediterranean region?
forexbrokerinc: All of our client’s funds are kept in European Bank. Our Bank is SPARKASSE BANK
forexbrokerinc: the situation in Cyprus doesn’t have any influence on us
you: How does that insulate you from a Cyprus type meltdown?
you: I realize this is a sensitive subject, but an important one
forexbrokerinc: SPARKASSE is a German bank
you: and? Is that good, how?
forexbrokerinc: non of our funds are deposited in Cypriot banks
you: Is that why they failed? Never heard of "Cypriot Banks"
forexbrokerinc: as long as the money of our clients are safe we do not worry about Cypriot situation
forexbrokerinc: Bank of Cyprus and Laiki Bank had problem
you: Let me ask, can FB stave off US type regulations?
forexbrokerinc: we are not regulated that’s why we are able to accept US citizens
you: it has swept EU, has it not?
forexbrokerinc: and offer them the same conditions like for rest of our clients
forexbrokerinc: from 160 countries
you: not being regulated is a two edged sword? On the one hand, I have freedom from tight regulations, yet on the other, what assurance can there be?
forexbrokerinc: The Company maintains operational and client bank accounts with reputable EU banking institutions.
forexbrokerinc: Investor Compensation Fund (ICF)
forexbrokerinc: The ICF is the compensation fund as a last resort for the customers of authorized financial services firms. If the Company becomes insolvent or ceases its trading activities, it is able to pay compensation to its customers. The actual level of compensation you receive will depend on the basis of your claim.
forexbrokerinc: Supervision by the Regulator
forexbrokerinc: Regulated firms are obliged to meet strict financial standards, including capital adequacy requirements. We are required to submit financial reports to the regulator on a monthly basis; therefore we are required by law to maintain sufficient liquid capital to cover all clients’ deposits, potential fluctuations in the company’s currency positions and outstanding expenses. A detailed annual audit performed by an independent internal auditor informs the regulator of any deficiencies.
you: Would you prefer I not quote you on this explanation when recommending you to others, or are you comfortable with me doing so?
forexbrokerinc: That’s the most honest answer I can give
forexbrokerinc: so I think that’s the best explanation
you: Thak you. It’s good enough to win my business.
you: Have a nice day.
forexbrokerinc: thank you
forexbrokerinc: the same for you
V.:42:
P.S. I should add, I had this conversation originally to find an explanation for why my new FXCM MT4 Demo account was showing almost a full pip more in spreads than in my new FB Platinum MT4 Demo account, both with zero commissions. Just saying and do check it out for yourself and tell me if you don’t find the same difference.
Honestly I find it a bit strange that they picked Sparkasse Bank which is not known to be active in this field at all, but that does not mean that there is something wrong with it. Just a very strange choice.
In the beginning none of the brokers were regulated. There were a lot of problems like ‘One World’ brokers going under and taking investor funds along with it. Therefore we recommended making sure a perspective broker segregated their funds from client funds.
Also regulated or not, brokers do close so we told our various marketers that they should tell their clients that it was better to have smaller accounts with several brokers so you don’t begin to look attractive to any rogues. I was informed that traders would just believe that we were trying to get people to buy more of our robots so that particular strategy never got much air time. But if you are restricted to using unregulated brokers, and can do so with your style of trading, diversifying is still a good strategy. Owning an off shore IBC removes all restrictions but we still use several brokers with smaller accounts.
CFTC on the warpath again (complete article in WSJ is locked)
CFTC Sues Prediction Market Banc De Binary
Only “good” news here is that Banc De Binary is a binary options broker not FOREX broker.
Hi Vanessa,
FXCM now offers a dealing desk execution model with lower spreads.
Here’s the link if you would like to try an MT4 demo with lower spreads.
Jason
Since you now have a dealing desk, can you offer nano lots or smaller? (100 units of base currency)? Even if this meant having a separate mini/micro account to do this.
Here is what you need to consider between a dealing desk and a pass-through ECN broker. When using a dealing desk, it is the broker himself that takes the opposite trade. Therefore when you win, your broker loses. If the broker has something to lose if you win,he may be tempted to use some of those hunter-killer programs for the MT4. Like the one that looks for stop-losses and if the price is close, the price will some how always make those extra pips, where if the price is just touches a take profit, it will hold back the price then jump to where the price actually is. If the price retreats then the dealing desk doesn’t have to pay out.
An ECN is a pass through broker. The only time he makes money is when trades are taken. It is to his benefit to allow you to make all the money you like because he make his cut on every one. You pay a little more in the way of the spread but consider it friendship insurance. You always want to be friends with your broker and tr to have him on your side, it just pays better.
Hi 4evermaat,
Currently, the minimum trade size on either NDD or DD execution is 1 microlot (1k or 1000 units of base currency), but I’ve passed your request on, and will let you know if FXCM reduces the minimum trade size in the future.
Jason
Thanks Jason, but let me ask, why shouldn’t any brokerage offering a DD option using tighter spreads as a carrot, not be considered a red flag for engaging in a corrupt business model? Other than becoming a go-between with a direct conflict of interest, what trader could possibly benefit from such an arrangement and how? Also, US traders looking for offshore brokerages allowing higher leverage, the option to hedge and scalp, are required by FXCM to fake temporary residency in unregulated territories such as found south of our (use to be)border, in order to open an account with their fxcmmarket.com branch. Maybe I’m wrong, but FXCM is the only brokerage I’ve dealt with that forces traders to satisfy this suspicious requirement. Just because I want to trade instruments not allowed by my corrupt government, doesn’t mean I’m willing to embrace corrupt practices. This is yet another red flag regardless of all the nifty bells and whistles FXCM has constructed.
The above are a couple of observations beyond FXCM’s comparably loose spreads. These for me are deal breakers, otherwise I’d open an FXCM Market account instantly with so many good features going for it, though less important than my concerns.
V:42:
No Vanessa, they are not telling you to be unethical, they are telling you what you need to do be legal. I do the same thing when I tell people to get an off shore IBC. You are not braking any laws, just getting an identity outside the US. It is a smart thing to do not an immoral act. Now I don’t know anything about fxcm first hand, I know they have been around as long as I have and several of our traders use to use them. never heard anything terrible but they are not being deceptive when telling you to get an off shore residency, they are just being your friend.
Hey, Vanessa
I think your recent comments about FXCM’s dealing desk option were a bit heavy-handed. FXCM is not interested in abusing you, or any other customer, with a “corrupt business model”.
Here are 4 pages from the FXCM website, in which they discuss the pros and cons of their [I]standard[/I] non-dealing-desk execution protocol, and the pros and cons of their dealing-desk [I]option.[/I]
Dealing Desk and No Dealing Desk Forex Trading Execution @ FXCM
No Dealing Desk Forex Trading Execution is Fair and Transparent @ FXCM
Dealing Desk, Market Maker, Forex Trading Execution @ FXCM
FXCM Forex Execution, Dealing Desk and No Dealing Desk @ FXCM
I think you will agree that they have done a pretty complete job of disclosing the facts about the dealing-desk model vs. the non-dealing-desk model, greatly facilitating due diligence on the part of their clients and prospective clients.
I have had accounts with FXCM since before Straight-Through Processing (STP), and ECN brokers, even existed — in other words, since the time when all retail forex brokers were market-makers, operating dealing desks. Those days are sometimes referred to as the “wild west days” of retail forex; and, to be sure, at that time there were some shifty brokers who were more than willing to use their dealing desks to steal from their customers.
To the best of my knowlege, FXCM never tried anything like that on me. And, since that time, I have learned to ignore the bad-mouthing of FXCM that appears from time to time on the internet, because that bad-mouthing simply does not reflect my years of experience with this broker.
I continue to use FXCM’s standard STP execution protocol; because, based on the way I trade, there is no compelling reason to switch to the dealing-desk option. But, I would have no qualms about switching to that option. I trust FXCM to treat me as fairly in the future as they always have in the past.
Your way of trading apparently is different from mine; and, for you, a pip difference in spread evidently has a significant impact on your results. If you were considering a U.S. broker, I would not hesitate to recommend FXCM’s dealing-desk protocol (with lower spreads) to you. However, if you are totally hostile to U.S. brokers, and intent on doing all your trading offshore, I certainly understand that sentiment. I am, after all, the guy who started this thread with some heavy-handed comments of my own, directed at the CFTC.
In all my experimentation with offshore brokers, I have always maintained U.S. accounts. It isn’t an either/or situation. In my view, a reputable U.S. broker has some advantages over an equally-reputable foreign broker. But, at the same time, it’s nice to have an established relationship with a trusted offshore broker, and be able to move everything out of the U.S. on very short notice.
Regardless of the offshore relationships that I forge, I will continue to trade my FXCM accounts until such time as totalitarianism in this country threatens their existence.
In my opinion the only thing wrong with FXCM is the regulatory regime under which they are forced to operate. Get rid of Obama and the Obama regime, get rid of the obscenity known as “Dodd-Frank”, and get rid of Gensler and the little nazis at the CFTC — and there would be no particular reason to look offshore for a retail forex broker. Free-born men and women would be free to trade as they see fit, with the best brokers they could find anywhere in the world. And many of those free-born men and women would conclude that you can’t do better than FXCM, no matter where you look offshore.
Anybody have any experience with this russian broker? Дилинговый центр Forex Market RuNet | Валютная биржа Форекс Онлайн - официальный сайт Forex Russia
Sorry if this has been discussed, i tried to search this broker.
I’m looking for a broker on MT5.
Also anymore info on PaxForex or FXVV? Seems many of the Brokers that accept americans are very marginal.
I’d like to go offshore again, as i lost ACM and Swissquote many years ago. Although i live mainly in eastern europe, being an american keeps me from these brokers. Any guidance would be appreciated. I have options, to trade under my wifes name, but i prefer to keep my trading accounts transparent. Thanks for any help