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FXCM ( not allowing USA traders )?


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  #1 (permalink)
vpd1952
memphis
 
Posts: 77 since Mar 2020
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I traded on their platform roughly 4 years ago and just this weekend I was looking at various Forex based platforms to trade on and remembered FXCM

I had no Idea that as a resident in the USA that they are no longer accepting?

I'd like to trade the CFD markets and FXCM has quite a few of these markets available - just wish I could open an account and trade through them

Can anyone recommend a Broker that offers the majority of the CFD based Markets that allows USA based traders/accounts to join?

I really appreciate everyone's help - Thank you


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  #2 (permalink)
 
mrburns's Avatar
 mrburns 
Prague, Czechia
 
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FXCM was banned from US market some years ago

https://www.marketwatch.com/story/fxcm-banned-by-cftc-after-taking-positions-against-clients-2017-02-06

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  #3 (permalink)
vpd1952
memphis
 
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mrburns - Thank you for that update


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  #4 (permalink)
Vroon5
Brussels+Belgium
 
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FOREX.com, OANDA, TD Ameritrade. they are still serving US clients. Do give them a through check though before going live.


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  #5 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
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vpd1952 View Post
I'd like to trade the CFD markets
...
Can anyone recommend a Broker that offers the majority of the CFD based Markets that allows USA based traders/accounts to join?

Maybe just terminology, but CFDs are illegal to US based customers.
Cash FX and such are legal though, but even then leverage to US customers is lower than most of countries.


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  #6 (permalink)
 
Zytrade's Avatar
 Zytrade  Zytrade is an official Site Sponsor
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Posts: 8 since Jul 2020
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As the rest have said US clients are not permitted to trade CFD's. If you are looking to trade FX we have a clearing relationship with GAIN/FOREX.com and can assist in getting you set up.

Devin Brady
[email protected]
Toll Free: 888-240-7099

https://www.zytrade.com/

Trading Futures, Options on Futures, and Forex involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.


Risk Disclaimer: There is a substantial risk of loss in trading futures, options and forex. Past performance is not necessarily indicative of future results.
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  #7 (permalink)
Gauer
garopaba + santa catarina
 
Posts: 45 since Aug 2019
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FXCM are scammers, from what I could gather googling about them


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