The Ultimate NON-US Broker Guide!

[AshFX]

Dear Traders,

As you many of you are already aware, the CFTC (Commodity Futures Trading Commission in the US), is potentially going to implement a new law for all US forex brokers. Namely, that leverage shall be reduced to 10:1.

Now, I know a few people say, "this 10:1 leverage will be a good thing for newbies". This, my fellow trader, is absolute nonsense. Firstly, we live in a free world, what on earth happened to the freedom of choice? Secondly, the high leverage is WHY I got into Forex in the first place. It's why many people got into Forex. It's the main reason why there are worldwide communities. Online Forex made the trading world a much smaller place, where many friendships have been formed.

If you want to stay with your current US broker and be confined to a 10:1 leverage, that's entirely your choice, and good luck. But if you want that freedom, and want to trade with the leverage that allows you to test certain strategies, EAs, etc... then you need to get out of the US. As for which broker, then that's another matter, since there are surely going to be many ready to pounce on the flood of clients leaving US brokers.

Contrary to popular belief, there are actually quite a few good brokers across the globe that are trustworthy and still offer the freedom of 100:1 leverage and above.

The guide attached, prepared by myself and Michael, is an attempt to help traders in finding such a broker. If you have any other brokers which you think are worth a mention, please do so, explaining your reasons - your feedback would be appreciated.

Hope this helps,

Regards,

AshFX

[flover]

Bad news... Hope this reduction does not spread to other brokers outside the US. But in the first place there is an important question:
Why the US government want to implement such a stupid looking law? surely they know when they deny the small traders like us one of the most exciting aspects of forex many of us will leave the US brokers!
Anyway I am with the Russian branch of Alpari and in my opinion its best for middle-eastern citizens if they want to have a reliable broker with international standards. It will also give its live clients totally free access to Autochartist program which in my opinion is one of the best confirmation tools available in forex market. Here is the link to both, check it out yourself:
www.alpari-forex.com
www.autochartist.com

[cmos]

It this is correct, (I heard it MIGHT be happening), I think I'll be looking at some of the big names that are opening in Australia, all funds are controlled in separate trust funds - that are routinely randomly checked - and having seen one audit on a trust fund - they don't leave any stones unturned!
It's a shame, I like Oanda (even though not MT4) - i hate robots with a passion. I prefer manual trading systems. ie at moment up 60 pips on CAD/JPY (1.44 lots) using such a system.

[wakacyjna]

There is always a solution

[piptrading]

Here again, the U.S. creates an unfortunate ruling. I wonder if the U.S. will make same type of ruling for U.S. based casinos, horse track, dog tracks, bingo halls and etc?

Totally interesting indeed.

[Javed]

There is no Russian alpari, the alpari branch situated in Russia is an off shore company with head office in new zealand, the problem is that there is no authority controlling forex trading in Russia

Originally Posted by flover

Bad news... Hope this reduction does not spread to other brokers outside the US. But in the first place there is an important question:
Why the US government want to implement such a stupid looking law? surely they know when they deny the small traders like us one of the most exciting aspects of forex many of us will leave the US brokers!
Anyway I am with the Russian branch of Alpari and in my opinion its best for middle-eastern citizens if they want to have a reliable broker with international standards. It will also give its live clients totally free access to Autochartist program which in my opinion is one of the best confirmation tools available in forex market. Here is the link to both, check it out yourself:
www.alpari-forex.com
www.autochartist.com

[flover]

Originally Posted by Javed

There is no Russian alpari, the alpari branch situated in Russia is an off shore company with head office in new zealand, the problem is that there is no authority controlling forex trading in Russia

Take a look at this:
http://www.kroufr.org/

and you can see it in here:
http://www.kroufr.ru/eng/members.html:)

[premierpips]

thank you for this excellent thread.

I was surprised to see FXCM at #2 on the recommended broker list. I've had slippages of over 70 pips on their mt4 platform and execution delays of over 2-3 minutes. when i raised an issue with their support, they responded immediately but resolution of the issues took over a month. ultimately all problematic trades were reversed and i've closed the account.

the interesting part is that the FXCM representative said that their MT4 platform is operates as an MM and recommended that I switch to their Trade Station platform. But I donot like TS, hence decided to look for other brokers.

Overall, in terms of customer support, FXCM well deserves to be at #2. But actual execution would drag them down. After all for traders, execution is primary. You wouldn't want to raise issues with support all the time.

[TraderJack]

Originally Posted by AshFX

Dear Traders,

As you many of you are already aware, the CFTC (Commodity Futures Trading Commission in the US), is potentially going to implement a new law for all US forex brokers. Namely, that leverage shall be reduced to 10:1.

Now, I know a few people say, "this 10:1 leverage will be a good thing for newbies". This, my fellow trader, is absolute nonsense. Firstly, we live in a free world, what on earth happened to the freedom of choice? Secondly, the high leverage is WHY I got into Forex in the first place. It's why many people got into Forex. It's the main reason why there are worldwide communities. Online Forex made the trading world a much smaller place, where many friendships have been formed.

If you want to stay with your current US broker and be confined to a 10:1 leverage, that's entirely your choice, and good luck. But if you want that freedom, and want to trade with the leverage that allows you to test certain strategies, EAs, etc... then you need to get out of the US. As for which broker, then that's another matter, since there are surely going to be many ready to pounce on the flood of clients leaving US brokers.

Contrary to popular belief, there are actually quite a few good brokers across the globe that are trustworthy and still offer the freedom of 100:1 leverage and above.

The guide attached, prepared by myself and Michael, is an attempt to help traders in finding such a broker. If you have any other brokers which you think are worth a mention, please do so, explaining your reasons - your feedback would be appreciated.

Hope this helps,

Regards,

AshFX

In my humble opinion the CFTC and the NFA are puppets of the Tri Lateral Commission just like the current US Administration and every past Administration back to its founderr Jimmy Carter, Zibgnew Brashinski and Rockafeller have been. The idea is control and Limited Freedoms to prevent accumulation of wealth beyond what is "Normal" and "They" decide what is "Normal"

[TraderJack]

See www.augustreview.com for more information on the Trilateral Commission.