thanks to FX_HEDGE i went and check out ATC BROKERS cayman island and it seems like they take U.S. traders as i got thru the live account sign up process, if anybody wanna do more research here’s there website
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They were never FCA regulated but their banking side was. That’s what is important to me.
Thanks FX_Hedge for a post bringing fresh blood and perspective into the thread. It was good to see the offshore concerns from a different standpoint. Here most discussions are about spreads and servers which is important for scalpers but for the others are irrelevant. For me personally there are tons of more important issues than what I pay for spread, they are actually the least improtant thing I care about.
The points you raised has not been discussed that much at all. I do not say a PAMM program is the interest of most, but your concern is valid and generates thoughts which is always good.
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QUESTIONS ABOUT ATC BROKERS
Can you tell us:
- minimum deposit ( seems to be $2,000 )
- minimum trade size MT4 is it 0.1 or 0.01 ?
- fx commission for round trip
- leverage offered
- money transfer arrangements
hyperscalper
you can do your own research
ATC Brokers (Cayman Islands)
This is an interesting prospect.
Here’s what I’ve observed, after a very quick look at the ATC website –
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38 currency pairs (if I counted correctly)
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FX, metals, and CFDs
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true ECN broker (interbank spreads + commission)
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$6.00 commission, round-turn, per std lot for USD/XXX pairs
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$5,000 minimum initial deposit
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MT4 platform
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Trading week: 5 pm ET Sunday - 5 pm ET Friday
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New York trading day (EOD: 5 pm ET, Monday through Friday)
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roll-over (swaps): 5 pm ET, Monday through Friday; triple roll-over on Wednesday
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segregated customer funds
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bank: NatWest Bank
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regulator: Cayman Islands Monetary Authority (CIMA)
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200:1 leverage for accounts up to $100,000; 100:1 leverage for larger accounts
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minimum trade size: 0.05 lot (5,000 units = 5 micro-lots)
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no negative balance protection
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Terms of Service more complete and detailed than many other brokers
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no mention of restrictions on U.S. or Canadian customers
@FX_Hedge and @SmallPaul – thanks for bringing this broker to our attention
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they use to be IB for fxcm in the USA then they went to the U.K. AND got regulated there and now there regulated in the cayman island, they always done things by the books and now they my top 2 broker on my list , good job ATC brokers for staying true who you guys are.
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did a little more research on ATC look like if you live in the U.S.A they will set your account up with oanda, im waiting for my account to be approve i will keep the form posted.
as you can see they are heavy regulated wont surprise me if they send your account to a U.S. broker
Found a new broker called Fxbrew…
500:1
spreads look competitive
MT4/MT5
Accept BTC for transfers and account denomination
St Vincent and Grenadines
Accepting US
That’s all I have so far. Its enough that I thought it would be helpful to share.
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To get normal FX rules through ATC Cayman for US clients you have to fund large account. Using Oanda is stuck with post Dodd-Frank US rules. This broker has about 15 years of FX brokerage experience and they seem to be very strict in following regulatory compliance. After researching ATC Brokers it was good to discover they were approved by Cayman regulators (very tough to pass) and they use a strong bank.
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yes if the cayman branch can take U.S. traders and offer them 200:1 leverage upto 100k account, this broker would be a game changer on our broker list
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yeah i just open account with them using my email seem like turnkeyfx if providing there broker service like they do with 80% of these offshore brokers like finpro, turnkey forex, coinexx and a few others
EDIT: I aslo ca’t find no info from FSA on them http://svgfsa.com/
Yeah, I typed in successively larger amounts until I got the prompt
that $2,000 was the minimum… who knows?
hyperscalper
thanks for the info @FX_Hedge , this is good news
what is the process to sign up through ATC Cayman’s, instead of ATC Oanda IB?
do we open an account through http://atcbrokers.com/en-ky instead of http://atcbrokers.com/en-us ?
I think we can forget about ATC Brokers (Cayman Islands).
On closer inspection, ATC Brokers is a dead-end for U.S. residents (other than high-net-worth individuals). In other words, for almost everyone on this thread, ATC Brokers is nothing more than an IB (reportedly for Oanda). If you want to open an account with Oanda, do it directly – you don’t need to go through ATC Brokers.
ATC Brokers is a member of the U.S. National Futures Assoc. (NFA), the sock-puppet of the CFTC.
ATC Brokers is not going to incur the wrath of the CFTC/NFA Nanny State by trying to onboard U.S. residents who do not qualify as professional clients.
Also, it’s most likely that the IB contract between ATC and Oanda stipulates that ATC will not accept non-professional U.S. clients, but will refer them directly to Oanda. If that is the case, then ATC has no incentive to onboard ordinary U.S. traders directly.
Here is the ATC document which defines the various classes of client –
Regarding the requirements for re-classification as a professional trader (in order to open an ECN account directly with ATC, rather than being dumped off to Oanda), here are the operative paragraphs from the document linked above (click on the image to enlarge it) –
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just got there email on my account status, we can forget ATC Brokers Cayman if we live in the U.S.A.
" Dear
Thank you for your interest in ATC BROKERS.
Your application has been received and thoroughly screened by our New Accounts and Compliance Departments.
We regret to inform you at that we are unable to accept your application as you are currently residing in the United States.
If you have any questions please contact [email protected].
Regards,
ATC BROKERS
Compliance Department
Yeah they’re my go-to broker at the moment as well.
Thank you for doing the review
latest on UpayCard, they won’t accept US Bank wire transfers. Tradersway says it has a min of $5000 for US wire transfers, but you better check because that was 4 days ago. The way things are going you need to use a US broker or get Trump to kill Dodd-Frank bill.
What is the latest on the broker list??
Coinexx wants you to use Bitcoin which I’m not familiar with, exchange rates…brokers… currency transfer??
REGULATED BROKER BERNDALE CAPITAL ?
I heard from an associate they were busted by the
regulator in Australia. Traders’ funds are frozen.
I guess those “unregulated brokers” look a lot better now,
huh? This guy had $50k frozen indefinitely…
hyperscalper