What is the best CFD broker from USA for online day trading?

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Old Mar 24, 2005, 3:29pm   #1
 
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What is the best CFD broker from USA for online day trading?

Hi,

Can anyone tell me which is the best CFD broker from the US which offers the most CFD stocks on NYSE/NASDAQ - for online day trading. I looked at deal4free - and they have a limited number of stocks on these bourses.

Thanks
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Old Apr 3, 2005, 4:49pm   #2
 
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Do you mean CFD broker based in United States? As far as i know CFDs are prohibited to US citizens and there is no CFD brokers in USA. BTW, deal4free is UK-based company.
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Old Apr 15, 2005, 12:49am   #3
 
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I tried to operate with such type of trading using Strategy Runner paper platform. And I am interested now if somebody has an experience of real CFD trading, using automated systems. And what broker do you recommend? Can you recommend an European broker? Iíll be happy to get any information about it.
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Old Apr 30, 2005, 5:24am   #4
 
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Hi guys

I have been trying also to find the best CFD provider for US day trading my findings, I am based in Australia so some are the Australia Arm of the Company

Deal for Free
slippage will kill you and the stress of requotes in a fast moving will also get you give a big miss.

IGmarkets
Don 't re qoute the order was cancelled and you has to start over again another big miss the Aussie guys wanted me to place orders over the phone .

Saxo Bank
it has been re sold as varius name .
the spread does not alway match the market and some provider have .1% built into the spread as -commission and this can make taking a trade with a 50 cent spread a test of you nerves .
Etrade pro
uses SAxo platform flat commission of up to 19.95 per trade I talked them down to 14.95 and has a spread of up 9 cents min on over 60 dollars but also appears to play with spreads .

MAN
is a direct market access CFD almost 2000 stock with Margins from 10% to nil . commission is per share up to 9 cents but the Aussie guys are talking approx 5 cents on volume . But they have platform and Data fees of 60 pound a month . I am about to open an account with these guys so I have not traded with them yet .

your choice comes down to trade size is it a hobby or you want to make real cash out of it if so I think DMA is the way to GO and Platform costs are a cost of doing business.

Any other provider I have missed that is worth trading with .

I am taking 6 months off work and moving to Chicago to trade full time in the US time zone not the early hours of the morning .
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Old May 14, 2005, 2:44am   #5
Joined Sep 2004
Excerpt of post by garthhick:

Hi guys

* * * *

Saxo Bank
it has been re sold as varius name .
the spread does not alway match the market and some provider have .1% built into the spread as -commission and this can make taking a trade with a 50 cent spread a test of you nerves .
Etrade pro
uses SAxo platform flat commission of up to 19.95 per trade I talked them down to 14.95 and has a spread of up 9 cents min on over 60 dollars but also appears to play with spreads .

* * * *
__________________________________________________ __

REPLY: See my recent post on Saxo Bank and E*trade UK under "Brokerages" forum, thread "CFDs/Spread Bet Brokers," and see this part of older post elsewhere on the Board by veteran Board member:

"Saxo 'Bank'? I advise you VERY strongly to read everything you possibly can about them before considering them. Not only here, but at MoneyTec and EliteTrader too. And think about who regulates them and read things written by the many people who've tried to call on the help of their 'regulator'. (But if you do that, you _certainly_ won't be opening an account with them.)"
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Old Feb 12, 2008, 3:37am   #6
 
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Quote:
Originally Posted by Flynn View Post
Do you mean CFD broker based in United States? As far as i know CFDs are prohibited to US citizens and there is no CFD brokers in USA. BTW, deal4free is UK-based company.
How can i open an account to trade CFD's if im a us citizen? please advise if any ideas.
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Old Feb 12, 2008, 7:31am   #7
 
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This will be a difficult adventure to find a proper Broker, guess it is nearly imporssible.

Trading CFDs is prohibited by US Law, supposedly due to their OFF Exchange specs.
Forex has the same characteristics and it is "regulated" by NFA...

Anyway, user in my forum has reported that there exist US Brokers which obviously offering
CFDs to US clients

I'd recommend to check these brokers carefully and maybe it make sense to call their customer service to clarify possible restrictions
So here we go

WASHINGTON PRIME PLUS, INC.
620 Herndon Parkway
Suite 200
Herndon, Virginia
VA 20170
USA

Washington Prime Plus Currency-Forex Trading with 24 Hour Online Trading Platform.

The second one looks not very trustful.
Capital Investment Brokers

They support Metatrader but if you look at the website you'll see that the site is not well coded. Seems to me like a faked website

CIB Capital Investment Brokers
1090 Vermont Avenue.
Washington DC 20005, USA
Capital Investment Brokers


regards
whispaw
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