Prop Firms that allow US residents and EAs?

[Nicholas Moreno]

Hello everyone,

I’m new here and I’m loving the course.

I’ve been researching, and having a bit of trouble finding a reliable Prop Firm that:

1. Accepts US customers

2. Allows the use of EAs

3. Works with MT4/MT5

My goal is to use the EAs that are provided with this course on Prop Firm funded accounts. However, after researching many of the recommendations, I haven’t found a reliable Prop Firm that meets all these criteria above.

-FTMO is currently not allowed in US.
-E8 markets, you’re not allowed to use EAs
-TrueForexFunds looks good but it doesn’t work with MT4, which i think the EAs Petko provides need to be run on MT4 or MT5, yes?

-TheTradingCapital, while recommended, seems to have a significant slew of negative reviews about users not being able to proceed past phase 1 of the challenge. So I’m not sure if it’s a legitimate Prop Firm

 

Does anyone know of a reliable Prop Firm that works for US users, allows EAs, and will work with the EAs that Petko provides? Thank you! :-)

-Nico

 

[Alan Northam]

Hi Nicholas,

Check out https://www.fxify.com/. I am not recommending any prop firm but this prop firm accepts US traders and you can use MT4 and maybe even MT5.

Alan,

[Nicholas Moreno]

Thank you so much Alan, I’ll check this out right now! Appreciate you – I hadn’t heard of it before!

 

Thanks!

Nico

[Alan Northam]

Just updating the thread in case future users read it.

FXIFY does in fact allow US users, works with MT4, and MT5, and allows EAs.

The only thing is you need to contact them and have them review your EA to approve it.

I showed them a 3 minute video of it running and they approved the EA within 24 hours.

Cheers, everyone and thank you Alan for the suggestion to look into them

[Alan Northam]

Hi Niholas,

Thanks for the update!

Alan,

[Alan Northam]

FXIFY is the only prop firm that I know of that allows traders in the United States.  Here, Nicholas has started his first  FXIFY Challenge.  In this link Nicholas shares his first experiences with this prop firm.

https://eatradingacademy.com/forums/topic/ftmo-robot-app-v6-0-new-features-released/#post-249312

Thank you Nicholas for sharing,

Alan,

[Alan Northam]

Hi Traders,

Today I opened a 10K 1 step challenge with FXIFY Prop Firm.  The first thing I learned after installing the MT4 terminal is that this prop firm does not allow much historical data.  In fact, the historical data allowed for the M15 time frame, my favorite time frame, is less than 1 month.  This does not allow me sufficient historical data to create some Expert Advisors.  So how do I successfully trade using this prop firm?  So I am going to use this account to run some tests.  The first thing I am going to try is to take my Expert Advisors I created over 9 weeks ago that I am using on my Infinity Forex Fund Challenge and install them on my FXIFY trading charts.  I am going to set the lot size to 0.01 and monitor how these EAs perform over the next week.  I will report my finding next weekend.  So I am actually running two tests at the same time.  First I am testing if EAs created over 9 weeks ago can still be used for trading.  Second, I am testing if EAs created from historical data from another prop firm can be used.  Stay tuned…

Alan,

[eleanorthomas]

Hi Alan,

How did this test work out? Are you still using FXIFY?

Cheers,

Eleanor

[Alan Northam]

Hi Eleanor,

FXIFY no longer allows citizens of the US to use MT4 or MT5 and has migrated my account to using the DXtrade platform.  As a result I am now using my US forex broker to run my EA’s and I am copy trading to my DXtrade platform.  I still have my FXIFY 10K account but am not using it.  Instead I have an FXIFY 50K One Step Challenge that is now funded.  You can find the results of this challenge in this link.  Also I have an FXIFY 400K One Step Challenge that has profited by almost 18K.  I need to reach 40K to get it funded.  Both these accounts are copy traded from my forex broker.

Do you currently have an account with FXIFY?  If not you can click on this link to learn more about how to open an account.

Alan,

[Author]

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