I have a question about brokers and being a United States resident. What are some of the differences and disadvantages will I have trading with EAs being subject to US broker laws: first in first out, can I have multiple EA running on the same currency pair, etc. I have purchased and watched about 6 of your courses already on another platform but I’m still unclear about the broker issues I might be subject to and how that will limit my EA trading. I’m very close to pulling the trigger on purchasing the software but I would like a little clarity on this first. Thanks!
In the US is a bit harder with the brokers because of the FIFO rule, but we have many traders from there and there are solutions:
1. Have a look at the trusted brokers’ page. The FX CHoice broker accepts US citizens and as far as we know from them, they can trade many EAs with the same lot and same assets.
2. You can trade one EA on different assets per account. Still, you will have a huge diversification of the risk.
3. You can trade many EAs on one asset but with different lots. You can test many EAs in one account with 0.01, 0.02, 0.03, etc. In FX Blue you can follow the pips, and then you will see which EAs are the best performers.
Basically these are the legit ways to go around I think…and if there are any other suggestions from other US traders, it will be great.