What is the best CFD broker from USA for online day trading?
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? I’ll be happy to get any information about it.
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 .
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 .
Chris Hood
Junior member
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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.)"
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.)"
How can i open an account to trade CFD's if im a us citizen? please advise if any ideas.
whipsaw
Member
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- 84
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- 0
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
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
Thanks Whipsaw, i appreciate the effort. I trade stocks and options for the moment, i was hoping to get into CFD's they look promising.
If any other ideas or hear anything please email. [email protected]
If any other ideas or hear anything please email. [email protected]
Take a look at the GFT platform for CFDs
If I was resident in the US, I'd be really reluctant to trade with any CFD broker who would take me as a client. If they're prepared to break the law to get my account, they're almost certainly breaking other laws too. Slim chances of getting any money back imho.
Not by a long shot, and keep in mind that Options have expiration dates and the further out you buy them the more expensive they get. while CFD's don't. Not having a choice in the matter Option and Futures are just as good. Plus its hard to compare the two, two different instruments Options are priced based on volatility and time while CFD's lean more towards the underlying security. Option do have more hedging possibilities, but i still rather trade CFD's.
But if by some miracle you do open an CFD account being a US citizen/resident please advise on how you did so.
Im looking into Futures now, anyone know a good broker or a good trading system(ideas)? If so Please advise.
But if by some miracle you do open an CFD account being a US citizen/resident please advise on how you did so.
Im looking into Futures now, anyone know a good broker or a good trading system(ideas)? If so Please advise.
depending from which IP you access http://usa.zulu-trade.com you get different choices for brokers.
usa clients have i think only 5 options while others have around 20 options to choose liquidity providers
usa clients have i think only 5 options while others have around 20 options to choose liquidity providers