Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

jskateborders

Hello, Looking for Broker

Recommended Posts

Hi, my name is Jason, I've been trading for about 10 months and was finally becoming consistently profitable when I had to close my account with trading point.

 

As a broker, they are wonderful, and I highly recommend them. Unfortunately, they are no longer accepting US accounts, which brings me to my dilemma, finding a new broker.

 

I am usually an advocate of finding the answer by way of a search function, however after 10 combined hours I am unable to find a broker that meets my criteria, hence I look the you guys.

 

I am looking for a broker that trades micro lots, allows scalping and hedging, Is not known for unfair spreads and data manipulation, and Is open to US residents. I am also looking for a broker with a low (around 250) minimum balance requirement. I am still learning and am not comfortable with putting much more than that on the line. Before you say anything about practice account, I know, that is the smart way to go. I have run numerous practice accounts, thought I was prepared, and it is not the same. I have made the decision that at this stage, the way for me to progress in my trading is the real deal. This is due to an aspect of my personality, and I do not dispute the importance of trading a practice account.

 

That being said, if you have such a broker, If such a broker even exists, please share the knowledge!

 

Thanks,

Jason

Share this post


Link to post
Share on other sites

To the best of my knowledge there are no brokers that allow hedging open to US residents.

Oanda meets your requirements, except the hedging. You can get around that by opening a sub account.

 

Residents of Puerto Rico and Guam do not have this restriction.

 

If you can prove one of your parents or grand parents was born in Ireland, Italy, or Poland they will grant dual citizenry. You do not have to renounce US citizenry.

I am sure there are other countries as well. Good Luck.

Share this post


Link to post
Share on other sites

Wow, first reply and pretty much covered it :applaud:

Thank you very much for that info, and that would explain why trading-point is no longer available. I'm assuming it's some US law that prevents hedging? Probably should know more about the legal side of the game if I missed that.

Share this post


Link to post
Share on other sites
Wow, first reply and pretty much covered it :applaud:

Thank you very much for that info, and that would explain why trading-point is no longer available. I'm assuming it's some US law that prevents hedging? Probably should know more about the legal side of the game if I missed that.

 

Yes, it's called the Dodd/Frank Bill

Share this post


Link to post
Share on other sites
On 5/23/2012 at 9:18 AM, jskateborders said:

Hi, my name is Jason, I've been trading for about 10 months and was finally becoming consistently profitable when I had to close my account with trading point.

 

As a broker, they are wonderful, and I highly recommend them. Unfortunately, they are no longer accepting US accounts, which brings me to my dilemma, finding a new broker.

 

I am usually an advocate of finding the answer by way of a search function, however after 10 combined hours I am unable to find a broker that meets my criteria, hence I look the you guys.

 

I am looking for a broker that trades micro lots, allows scalping and hedging, Is not known for unfair spreads and data manipulation, and Is open to US residents. I am also looking for a broker with a low (around 250) minimum balance requirement. I am still learning and am not comfortable with putting much more than that on the line. Before you say anything about practice account, I know, that is the smart way to go. I have run numerous practice accounts, thought I was prepared, and it is not the same. I have made the decision that at this stage, the way for me to progress in my trading is the real deal. This is due to an aspect of my personality, and I do not dispute the importance of trading a practice account.

 

That being said, if you have such a broker, If such a broker even exists, please share the knowledge!

 

Thanks,

Jason

Hey Jason,

I am not sure if I can be helpful, but I had these guys as my sub broker. I'm not exactly sure if they'll meet your criteria, but I think you can check it out once if you like.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Topics

  • Posts

    • divvy, Without saying something about when fibs will likely resonate/hold, that statement has no more significance than saying something like “moving averages  are helpful in confirming trend-trading entry points. ... where the pullback could reverse and head back in the trending direction.” (hint:  swing ‘slope’ is good place to start... slopes of last 3 swings to hone)
    • https://bankunderground.co.uk/2018/11/13/the-seven-deadly-paradoxes-of-cryptocurrency/
    • AI works with data it is given.... just sayin’ There are rumors that the ‘artificial intelligence’ in all the AI funds may stop buying and even start selling.... just sayin’ ...not an issue --- until you consider that there is not a diverse universe of AI ‘models’ out there.  In fact, the universe of neural net models are close to a weird ‘singularity’ esp on the trading platforms.... just sayin’ ie...not an issue --- until you consider that the outputs of Unsupervised Learning models, Supervised Learning models, Semi-supervised Learning models, and Reinforcement Learning models all correlate much more than one would hope.  Ie Some ‘geniuses’ develop an original model in Boston, another team builds a new proprietary model in Chicago... another out of Princeton,  etc etc. etc etc etc and all the models learn to do about the same things.... what am I just sayin’ ?
       
    • Ethereum (ETH) Daily Price Forecast – November 15 ETH/USD Medium-term Trend: Bearish Resistance Levels: $240, $260, $280
      Support Levels: $170, $160, $150 Yesterday, November 14, the price of Ethereum was in a bearish trend. Price was fluctuating at the $210 price level before the bearish breakout. The crypto's price was resisted by the 12-day EMA and it is approaching the $180 price level. The digital currency has reached its oversold region, therefore traders should look out for buy setups so as to initiate long trades. This will enable traders to earn partial profits as the crypto's price commences its bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicate that price is in the bearish trend zone. ETH/USD Short-term Trend: Bearish On the 1-hour chart, the crypto’s price is in a bearish trend. The crypto's price fell to the low of $182.05 and price is ranging at that price level. The crypto’s price is now below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.     The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.   Source: www.bitcoinexchangeguide.com   Top of Form   Source: www.bitcoinexchangeguide.com
    • Fibonacci retracement levels are helpful in confirming trend-trading entry points. ... where the pullback could reverse and head back in the trending direction.
×

Important Information

By using this site, you agree to our Terms of Use.