Hello everyone:
With the new NFA rules, almost all US brokers now no longer allow hedge and they implemented FIFO (First In First Out). There are many forex traders who do not like these rules and decide to move their account oversea. That is fine, but think about it, if you move your account oversea, the risk is greater. Except UK, other countries may not have good regulation like the US.
When you wire fund, the bank charge you more wire fee than domestic wire. Further more, sending fund to or request for fund from oversea broker may take longer, sometimes much longer than account with US brokers.
So how can we stay with US broker and still able to hedge and trade freely without the restriction of FIFO. Well, as far as I know, FXDD still allow hedging and still do not implement FIFO yet. The reason is, their application for NFA member is still pending, they are not full member yet. We do not know when they will become full member. It may take them a few weeks more or many months. But until then, we can still enjoy the benefit of US broker and the freedom to trade without FIFO or hedge restriction.
Another Benefit is that FXDD pay some rebate to their referral brokers who registered with the NFA. In turn, the registered RB can share some of the rebate back to the customer who use them as referral. The customer pay not extra fee, no extra spread but he can get rebate up to around $5 per lot or half a pip. So this is a win win system, that benefit the broker, RB and customer. The customer or trader end up saving half a pip from every trade. For example if the broker charge them 2 pips for eur/usd, and he get half a pip rebate back from his RB, then he only pay 1.5 pip per trade.