I have been practicing my skills and developing a trading strategy intensively for the past 6 months and believe I am ready to trade live. I have been searching the internet to find an appropriate broker for my trading style but would like a little insight for a recommended broker.
I live in US residency and tend to hold my trades anywhere from 1 day – 2 weeks. Since I hold my trades for multiple days, I’m interested in no/low rollover rates.
Been looking into a few brokers:
• Interactive Brokers
• TD Ameritrade
• Oanda
• Gain Capital/Forex.com
• MB Trading
After learning FOREX and practiced for 3 months, I need to transition to live trade.
I am a British Citizen, but I am a USA resident. Many brokers are not allowing USA residents to register.
I also read that there is a FIFO rule and no hedge rule that is making FOREX trading not profitable for USA residents unless you are a millionaire USA resident already, FOREX will not be profitable, but it can be profitable for the average Joe who is not USA resident and is allowed to signup with brokers allowing hedge and no FIFO.
Please, if there is any USA resident out there who is trading FOREX profitably and did not start as a millionaire, could you suggest brokers to use?
Only if it isn’t a nice and yummy family dinner
There were some bucketshops offering binary options on weekend, although I couldn’t figure out where do they take the price feed.
Lol I don’t know how did the topic change here but definitely wouldn’t trade with any bucketshop only to be able to trade over the weekend. If one cannot live two days without trading and is ready to risk money with suspicious “brokers” it seems more like a personal gambling problem.
I’ve always wondered why there are so serious restrictions by the US? However I believe that if you are a British citizen and have a secondary address in UK beside your current USA-address many European brokers would be able accept you as a client.
It is extremely crucial to pick broker of high degree, it’s what makes big difference. I find it easier with broker like FreshForex who not just are high quality but also have excellent conditions with zero spread, 120 instruments, 101% Tradable Deposit Bonus and even day to day market analysis/updates, it’s just amazing.
I like to trade with brokers who just do their job well. I don’t pay any attention to the popularity of the broker. Some spend a lot on advertisement, some don’t, that’s not an indication of reliability.
What about the FIFO and hedging rules in the US stops from implementing your strategy? In our experience, most strategies can be adapted to execute trades without hedging and in a FIFO compliant manner. If you have any questions about this, please don’t hesitate to reach out to us.
