Should I Go With US Based Brokers Or One Of The Offshore Trusted Brokers Recommended By BabyPips?

Hi everyone I am going to start my Forex journey and after reading about Market Making / Dealing Desk operations, have concluded that the possibility of price manipulation is just too great. Can anyone validate this conclusion?

I live in the US and my options for a US based broker are pretty much limited to Forex.com, Oanda, and IG. All of these are Market Making / Dealing Desk operations.
Can anyone confirm how bad the spreads / price manipulation are? I plan on mainly scalping the 15 minute charts so will be placing multiple trades in a day.

Would the community still recommend these US based brokers to me? Or would I be better off with an ECN account with one of the trusted offshore brokers recommended by BabyPips?

The communities input on this question is much appreciated.

Make your way to the following thread to get input on the offshore side of the question. Highly active.

On the US broker side, I honestly think you’ll need to just jump in and get your feet wet. Don’t forget trading.com, a new entrant into the US market. I believe IBKR also offers forex trading accounts, but not sure if that includes retail or not.

GAIN is the largest by market share, followed by OANDA, if that matters to you.

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Interesting. Thanks for the info. And yeah iv’e done research on the US based brokers but am not sure if those are the best options for scalping. But you’re right. I think just jumping in and getting my feet wet might be the best thing.

I might just go with forex.com

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Old but maybe still relevant from a high level.

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Haha thanks bro I don’t have an excuse now…

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Other non US based that come to mind include:

  1. Tickmill
  2. TD365
  3. FXview
  4. Pepperstone
  5. Hotforex
  6. FxPro

This list is by no means complete and by no means a promotion for any. Like I said, the offshore thread is your best bet to get current opinion from traders using the services.

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Sounds good thanks man

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Good ones you’ve listed here, I’m using fxview and fxpro from here, and have faced no problems using them.

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Not all the offshore brokers are good and reliable. A proper research and study is required to find any reliable offshore broker.

I prefer trading mostly with regulated brokers. Regulation make them more reliable and trusted.

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If your are seeking for restriction free trading, offshore brokers are the best choice. This should be only done if you know what you are doing.

That’s exactly what the thread listed above gives people who don’t want the restrictions placed on them by regulated brokers though. The thread is 12 years old so has some excellent case studies of long used offshore unregulated brokers.

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I’m also from the US so I faced similar issues with finding a broker as far as not be accepted by a number of options I was looking at. In the end, I went offshore and it’s the best decision I ever made. I know that there are reasons why people are hesitant, but I don’t think regulated brokers are as safe as they’re made out to be and we’ve all heard horror stories about them. At the end of the day, I think user reviews from real people is more telling than anything else.

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I use offshore. Over here in Australia we can only get 1:30 leverage onshore, so I made the switch a coupe of years ago. I way prefer depositing Bitcoin as the goal is to build the btc balance for the next bull run.

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I`m with an offshore for more than 3 years already and nobody can beat them for now.

I agree with you, there are many reliable offshore brokers available today, and when there are reviews from real people available online, I don’t think there is any room left for doubt. I’ve used a couple of good offshore brokers - turnkey forex and cryptorocket, and never faced any issues. You’re right, the mindset needs to change now.

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True, that’s very common and frustrating. Glad that you made the switch. If someone else is looking for a high-leverage broker, then this might help - List Of Best High Leverage Brokers. Always better to have options.

I’ve been using a offshore broker for a while now and never had any problems always been reliable

Glad to see that someone agrees! I get why people automatically assume regulation = safety but it just isn’t the case.

Other than using an ecn broker do you have any other particular feature you’re looking at? For instance if you’d need a high leverage broker then US based ones might not be an option, could rather then go for brokers mentioned here List Of Best High Leverage Brokers I’m using turnkeyforex from this list, it’s a good one with tight spreads.