WHY DO MOST OFFSHORE BROKERS DON'T ACCEPT US RESIDENTS? I still don't know the answer - page 2

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guys. so overall, it is BEST to trade a broker that ACCEPTS US CLIENTS?

need advice. my broker is HOTFOREX. What brokers you suggest that accepts US Clients?

Thanks

Wilson

 

Guys

I agree that metatrader brokers are not the brightest stars on sky, but this rule does not have much to do with metatrader

It is a law that is trying to regulate money laundering and as such should have bring some order in the way how brokers in general are doing their jobs. Being regulated by CTFC is always a good to know thing about some broker (since as clients we are protected to some extent that way)

 
Tomcat98:
Hi Minime,

That's an interesting post.

Could you please tell us how do you handle with that situation?

Change the name of tools used? Changes the names of the EA's? Manual close?

Interesting co's I sometimes live that situation too.

Have a good WE.

Take care.

Sincerely

Tomcat98

For a start , its way too risky to trade scalpers with any broker , regardless how good the broker claims to be , especially if

1- You increase the lot size

2- The stoploss is way bigger than the takeprofit

The "safe" way to trade a scalper is to keep the lot size fixed , and the stoploss tight

Then on your code create a counter for the amount of re-qoute , server busy , market stats , connection stats .. log the error messages and save them into a file . You will notice once the broker blacklist ur account , the file size will increase and save screen shots if you plan to sue ur broker

Try to avoid trading whats commonly traded, so if there is a code thats getting too much attention on the web , then avoid trading that code or that method

inside ur code create safe levels , to force an exit in profit/ loss regardless of the TP and SL

avoid trading larger lots

trade with a well known broker ,the more clients the broker have the less chances he will be bothered about ur account as the money you make is the money he doesn't make or lose

Keep an eye on the 1min and 5 min chart and compare between brokers , with few charts open for different brokers you can visually see the price manipulation

Place testing pending order with known SL and TP , and keep a log for the stoploevel , some of the brokers play with the stoplevels to trigger ur loss

log the maximum and minimum spreads for the broker and use that as a guidance in deciding the takeprofit and stoploss

change brokers once you detect any foul play with ur account , or close the account and open a new one

BTW its not MT4 brokers only , all brokers have plugins

Thats all I can remember

All the best

Fadi

 

good advice from veterans! this knowledge you impart are priceless!

 

yeah, i remember a time when the forums was filled with complaints, even hotforex the broker i trade with had to let go of its US clients, its mainly because of US regulations that won't allow it to be done for US residents, but i have a feeling there is another big thing behind it which some big people will benefit from it, since most US regulated brokers can not provide as good trading conditions as some off shore brokrs. well im still glad im not there

 

Thanks MiniMe. Now from ur personal experience, which broker would you recommend cheating the least, since they all do, I am asking the few good one pls. and thank you.

John

 
johnkovacs:
Thanks MiniMe. Now from ur personal experience, which broker would you recommend cheating the least, since they all do, I am asking the few good one pls. and thank you. John

Nowadays there are many reliable and unreliable brokers in Forex industry so in order to find the best one, go online and check out the reviews for different brokers. Make a comparison of the Regulations, Foundation Years,Payouts%, Platforms, OS Compatibility, the quality and availability of Support, Funding/Withdrawal methods and diversity of Forex, Commodities, Stocks and Indices . By doing your research beforehand, you can narrow down your options to two or three brokers before making a final decision.

Hope it could help.

 

If they are SEC regulated, they can not (it is due to US laws)

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