I have a retirement trust, and so I need to open an account with a “major brokerage” that allows accounts to be opened of that kind. Fidelity, TDAmeritrade, ETrade, Charles Schwab, for example. I am having a very hard time finding info regarding whether their systems are set up to allow robot trading. I have one system I have already purchased, and I am planning to do a lot more, but need to know who allows outside robots to trade on their software.
Anyone have any insight on that please?
Thanks a lot!
Most do. They allow expert advisors on MT4 which is the platform you trade on
Thanks much, but all those are not allowed in the USA. I am doing it in a trust, and so cannot get around that with a VPN, as I will have to be accountable.
Most of the big boys seem to have their own systems, instead of using MT4/MT5. So that is the issue I am having right now. If they are a smaller brokerage, they either are not allowed in USA or they cannot allow me to open an account in the name of my retirement trust.
It is not illegal for you to open an account with an offshore broker . But, it is illegal for that broker to accept your account if they are not regulated by the NFA/CFTC.
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I know you mentioned Major brokers, but I kid you not, EAs performance is usually restricted on these. I was part of a team that tested a new EA back in January and among the brokers used, the EA performed better with an offshore broker called Tenkofx. I still use this broker. I think this due to certain factors such as spread, leverage and execution speed.
Even I had a hard time finding a good broker which allows EA/robot and flexible trading conditions and accepts US clients without me using VPN, so a friend suggested me Turnkey forex. I can attach EA of any kind on their platform, i don’t have to use VPN to access their portral and platform and they don’t even charge any fee for attaching EA on their platform.
Most of the brokers allow EA robot trading. I am sure [removed for Forums violation], XM and Hotforex do allow EA Robot trading. Their platform works amazing. I trade on both MT4 and MT5. Also, you can always check demo accounts of the broker you want to test your EAs on. But as far as I know, Hotforex and XM don’t accept US clients while ■■■■■■■ does.