Hi Gabe,
Trading Third-Party Robots in the U.S. – Workarounds and Broker Comparisons
I agree—trading third-party robots in the United States can be a challenge due to FIFO rules and leverage restrictions. One of the few viable options available to U.S. traders is DarwinxZero, which allows access to MT5 accounts for U.S. residents. The team at EA Trading Academy showcases how to use several third-party robots with DarwinxZero.
👉 [Click here to review their setup.]
My FIFO Workaround Using Oanda Accounts
To work around the FIFO rule when trading robots I’ve built in EA Studio, I use multiple accounts with Oanda. For example, if I’m trading multiple strategies on EURUSD, I run each one in a separate account.
What I like about Oanda—and what most other U.S. brokers don’t offer—is the ability to create up to 19 demo and 19 live accounts. This gives me the flexibility to demo-test many different strategies for each currency pair I’m trading.
Oanda vs. Forex.com – Cost Comparison
If you’re comparing Oanda.com to Forex.com, keep in mind the difference between spread and commission:
Oanda: No commissions, but wider spreads.
Forex.com: Tighter spreads (about half of Oanda’s), but charges a per-trade commission.
When you combine spread and commission costs, the total trading cost is roughly the same for both brokers. So if you’re using Oanda, there’s no need to feel like you’re overpaying.
High Leverage Discussion
I’ve also shared my thoughts on using high leverage in another forum thread.
👉 [Here’s the link if you’d like to check it out.]
Alan,