time to take fxchoice off our list and add these brokers To our list
Iāve been playing around with a Hankotrade demo today. Really like their spreads and the way they count points on indices. Have everything I enjoy trading. BTC spreads are insanely low I might be reading it wrong. LOL. Might need to try them out live.
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If I had a 8 figure account I wouldnāt be sticking around the US. With that much money what good is it to be a citizen? Obamacare? Becoming a citizen of certain country I wonāt name (to apply you have to be wealthy) you still have a powerful passport, and you can come and go as you please to the US. You can still visit the parents and even live most of the time in the US. Thatās my plan. I donāt need to stick around worrying about Trump or Biden; who cares! Iāll take the foreign country with white sand and palm trees, a passport that still allows me to go most places, and my 8 figure Blueberry Markets account. Dude leave the US and go get an account with Blueberry Markets guy with 8 figures, lol!
[EDIT] Thereās people we have not heard from in a long time like _METHOS, I often wonder if that is what he did; he no longer has the need to follow this thread because he already has accounts with brokers we only wish we could.
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With LQDFX not being a choice for some due to their stop distance limits, If Traderās way & FXChoice go away there is really no one else left that I would trust with 5-6 figures offshore that is available to US citizensā¦ It would be CME or bust for larger FX traders, plus the 300K FTMO option.
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If you had high 7 figuresā¦ there is no reason to leave since you would be an ECP exempt from dod frank able to live in US and trade with the large EU/AUS brokers.
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For that reason Iām currently building a tool in MQL5 to hide my stops; its main purpose is for trading brokers like CryptoAltum that have really bad stop levelsāyou wouldnāt be able trade lower timeframes like I do with any decent risk management without it. I like building my own trading tools, but I think there are already Utility EAās out there for MT4/5 that can do this. You just would want to run them on reliable VPS because they are not Hard Stops at least mine wonāt be; itās just the EA keeping track of where I want to get out and executing a market order.
Nice! Even better!
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But for now Traderās way is keeping existing customers? Will be interesting to see how this plays out, I really wanted to stick to fxchoice.
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What freaks me out is losing brokers that offer MT5 as Iām a MQL5 programmer (all my tools/strategy is in MT5), and in the Algo Trading Community we believe it is a much superior platform to MT4 as itās multi-threaded, offers better EA support for multi-currency plus many more advantages. How I found this thread was when I found that no US brokers offer MT5 that I know of anyway. I can always use a trade-copier from MT5 to MT4, but I still need an account somewhere that offers MT5.
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I experienced this when we lost all JForex brokers. You might try AMP Futures. They offer MT5, but only futures, unfortunately.
My solution was to code all my logic in R and Python and only use MT4/ MT5 for order management. It works well, although I am not a scalper. There is a delay between feeding the signal to MT client and execution. On the plus side, no one can see your strategy and it is very portable.
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I would suggest making a REST API for your Buy/Sell in MT4 or MT5. That way all your code needs is just an http call and get your answer. That appears the simplest way to do things.
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Do not take this wrong but just about any strategy will make money if risk management plan is solid. Problem with martingale is you get killed on directional markets. Everyone always tell you to cut the loss fast and let the winner run. That is the hardest thing to try and code! Why good risk management code is very hard to make!
When stepping out of MT4/5 you now have access to stuff like clickbank and timescaledb. Where you can do all kinds of things along with AI/ML if you want togo down that rabbit hole.
I do not see what the appeal for FTMO is personally. Why spend the time and effort on them when you have the ability just use your own money and keep 100% of the profits not 30%!
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I donāt take anything wrong; if Iām wrong, Iām wrong, and itās nice to be corrected. Thank you! Itās the reason I add a little more detail about me out there, so I can be corrected 
New to the game early last year, I got stuck on grid trading because I was messing around with an EA that turned $200 into $800 on a demo account in two weeks, but crashed the account the following week. Back then I didnāt know jack about over-leveraging and about what risk management really means. Being an engineer I was determined to solve the problem of the grid crashing. I just ended up going down the wrong road for months. I feel kind of like Justin Bennett from Dailypriceaction; he mentioned he was doing it wrong for three years before his aha moment in 2010 I think it was.
Itās nice to hear that! Thatās what I was discovering, and the reason Iām going for more of hybrid approach.
As far as FTMO goes, for me they are a means to an end; I can put that 70% towards my own accounts, and then on those accounts keep 100%
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Hereās the appeal of ftmo to me personallyā¦ 300K with trade risk lowered to stay <10% max draw down is the equivalent of me trading 100K @ my normal 30% drawdown riskā¦ with free money! Nothing is stopping you from continuing to trade your own moneyā¦ and you keep 70% not 30%.
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The appeal of FTMO to me is:
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most people donāt have $100,000 lying around to put into a live trading account. And if you choose to do 3 FTMO accounts at the same time, thatās basically $0 into $300,000 to trade with in around a month or so, and
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itās offshore, so we have the freedom to trade how and what we want, and
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as far as we can tell, itās pretty safe so we donāt have to be concerned with our broker suddenly not accepting US clients overnight, and
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itās not even our $100K, so we donāt have THAT to worry about either (Iām not at that level of trust to have $100,000 of my own cash in an offshore broker by myself), and
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you can use that 70% of the profits you get to keep to fund your own accounts. Just hook the FTMO MT4 up to a copy trader and send it to any/all of your personal brokers
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Timeseriesdb sounds interesting. I have thought about using a full database, but R and Python with local CSV files do a good enough job with less overhead for every use case I have found. Does a full database do better at some things? FTMO never responded when I requested a demo account months ago. If a demo account worked well, I would consider using them, but am not jumping in without a test drive.
[We should probably do tech talk on a different thread. Would be nice to have a topic dedicated to something like coding etc. with trading]
I guess it would depend on what you would use it for. Before I started coding to the MT5 platform, I needed more data than what I could download with Oanda. I didnāt want to pay for historical data, so I built a service of sorts to keep data in a NoSQL DB called ArangoDB. Then I found that MT5 takes care of historical data for me from the different brokers, so I stopped developing it.
Now, if I had the time, I would want to keep all my trade metrics (logging/journal) in a DB. When the EA closes out a trade, it writes to the DB all the metrics. Then I could do some powerful queries and even create a UI frontend to visualize the data; I guess thatās basically what MyFXbook is doing but there might be more things you want to know about; over the last 100 trades how are entries using an Engulf or Pin Bar off of support that is now resistance been doing? Looks like the pin bar has been more reliable, ok maybe Iāll get rid of the Engulf entry from my trade plan. How am I doing on entries on M5 vs M15 etc. MyFxBook wonāt tell you that. Maybe another purpose would be for different platforms to communicate with each other. Maybe you donāt want two separate accounts doing a similar trade idea on correlated pairs, or if you do your risk% drops on the 2nd account by a certain amount. The EA on the 2nd account is continually checking if it has a green light on EURUSD in case another account is already 2% in. Maybe your trade plan says only 2% max on a correlated pair across all accounts when trading H1 even lower when trading M15 etc. Basically, thereās almost endless possibilities and ideas of what you could do with a DB.
I think we should keep FXchoice on our list till the time their is some confirmation from them for US clients (existing and new)
https://en.myfxchoice.com/faq/fund-security/#8
Do you accept clients from my country?
We accept clients from all countries, except those listed below:
- Afghanistan
- Belize
- Iraq
- Italy
- North Korea
- Spain
- Sudan
- Syrian Arab Republic
- The United States of America
- Guam
- Northern Mariana Islands
- Puerto Rico
- U.S. Virgin Islands
- United States Minor Outlying Islands
- American Samoa
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Thanks, I never liked FXChoice because of high spread, 
There are plenty of great brokers out there.
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