Keep us posted.
The problem with using the brokers that accept US citizens is that after we open our account and begin trading, they may change their minds. But again as a developer of EAs, I have to recommend brokers that have attributes that are good for mathematical trading. Setting up a broker only to have him knocked down by another frivolous NFA lawsuit, is not a good attribute. I am still hoping to hear another solution to the problem other than using brokers that are currently accepting US traders or of course my earlier recommendation of opening a legal entity off shore, which cost money.
In response to the previous comment about contacting members of Congress, I think itās worth our time to do so. Iām a big fan of Paul Ryan by the way. I just spoke to my House representative and got a very positive response from his staffer. He sounded very concerned by the facts as I outlined them, and he encouraged me to come up with some written material on the subject to present to the office for consideration by the Congressman and his agency liaisons.
Phew, I was worried that the site got taken offline by our friendly CFTC overlords!
United World Capital Ltd does not accept applications from private individuals who are USA residents. We do not accept applications from corporations registered in the USA, either, unless they can be categorized as Eligible Contract Participants. Contact us via Live Chat for further enquiries.
Accent Forex Forex do accept US residents/Citizens
What information would be prudent to present to our Congressmen? I would like to see the platforms of U.S. brokers allow hedging and 1:100 leverage. The leverage requirement of 1:50 hampers the little investor too much.
Get Money FX will NOT accept new U.S. clients. Vantage FX WILL accept new U.S. clients. Both are located in Australia and regulated by the ASIC.
Any thoughts about sending a letter to our republican Congressmen about the U.S. regulations?
A very similar situation is with two other Australian brokers: Forex FS WILL accept new US customers while GoMarkets will NOT, with both brokers also being regulated by the ASIC.
Always a good idea.
Anyone have any experience with Forex FS or Vantage FX? I am currently trading with CitiFX Pro. CitiFX Pro has 1:50 leverage, allows hedging and no FIFO. Your USD deposit is insured by the FDIC and Citi is regulated by the Federal Reserve, not CFTC. The one complaint I have is their platform goes down at times during trading hours.
Hi, folks! I feel your annoyances of whatās going on with the regulations! CMS booted me to the curb, in a major way! Iāve been keeping track of this topic for a while now, trying to find another offshore broker that offered more commodities to trade rather than energy/pmās and had interest rates to trade, as well. More importantly accepted US customers! I have been trading with Varchev Financial (thanks to the list here!) since the end of last year and can without a doubt, vouch for them. Not a single problem, whatsoever. I just wish they offered interest rates and a wider range of commodities. I was checking out Broco, but the allegations against them concerns me heavily! If you guys are aware of a broker that has interest rates and a wider range of commodities to trade, iād love to know. As far as forex, indicies, pmās and energy trading? Varchev, is a no brainer! Not a single complaint.
The last time the broker list was updated/bumped was on page 51 and was dated January 27. I guess Clint is really busy!
I see Varchev Financial is no longer listed. I wonder why? I didnāt have time to go back through the entire thread to see if there was a change in VFās position, but I doubt it. I havenāt heard a peep and am trading galore. Withdrew last Monday, as well. Great broker! And iām super anal when it comes to brokers! Iām glad CMS (and their weekly āblackoutsā) booted us retailers and tried to send us to Gain. LATEEEEEEERRRR!
Thanks for the info. Any problems with the withdrawal from Varchev? Did they process it promptly?
Quick and no hassles. No platform (MT4) problems with downed servers, no slippage, etc. Loveāem! I damn near sound like a salesman for them, huh? lolol!
Youāre right. Itās long overdue for an update. Iāll get to it this week, for sure.
I find myself curious about the impact the new regs. have had on the small traders that stayed in the US. Can they still operate and profit enough to make it worthwhile? I havenāt seen or heard anything from those folksā¦
I would be interested hearing feedback on this also?
VantageFX is apparently picking and choosing as I was denied due in part to being under the auspices of the cftc.
From one of their reps
"There is also the issue with the CFTC and Vantage FX taking on US clients. Thanks"
cross that one off!
I canāt explain why Vantage FX accepted my application 2 weeks ago. I know they do not solicit U.S. clients. I just filled in their online application and got an account. A friend of mine yesterday did the same thing and was approved.
Best thing would be for our government to remove many of their restrictions.