US BROKERS

[Alan Northam]

Oanda.com:  Oanda offers MT4 and 19 demo accounts and 19 live accounts. Demo accounts do not expire. However, Oanda does not offer much historical data for backtesting.

TastyFX.com:  TastyFX, formerly known as IG in the US, offers MT4 and 3 demo accounts and 3 live accounts. Demo accounts do not expire. However, TastyFX does not offer much historical data for backtesting. MT4 charts have an extension of .FX for U.S. clients. For example EURUSD.FX: Both EURUSD and EURUSD.FX show up in the Watch List so make sure you use EURUSD.FX or trading EA’s will not work. TastyFX is not available in Ohio!

Forex.com:  Forex.com offers MT4 and MT5 and 3 demo accounts and 3 live accounts. Forex.com offers sufficient historical data for backtesting. Demo accounts expire after 90 days if not used. Demo accounts block the use of Expert Advisors.

Trading.com:  Trading.com offers MT5. Trading.com offers the the most historical data for backtesting. Trading.com offers 1 demo account 1 live account and 3 live sub-accounts. To close the practice account it is necessary to withdraw any funds from live accounts first. The practice account can then be closed and all the defunded open live accounts will also be automatically closed. A new practice account can then be opened with a different email address. However, after the first practice account was closed new live accounts can no longer be opened.

[Alan Northam]

IG US will change its name to tastyfx on Monday, June 24th. We will notify you of the official change at that time. You can continue to access your account as usual. On June 24th, you may be redirected to our new website, platform, and mobile app—please use your existing account details to login and enjoy our new resources.

Alan,

[Noir Bull]

Nice

[devgabriel300]

Thanks for sharing! Alan you seems to be the most knowledgeable in US trading style. Your comments are highly appreciated.

[Alan Northam]

Hi devgabriel300,

I have been trading in the US since the 1980’s so I have lots of experience.  Unfortunately there are not many US traders on this forum anymore.  When I add content to the forums I do not get any responses.  It’s like I am just talking to myself.  So I decided not to continue adding content.

Alan,

 

[devgabriel300]

Yeah i understand that could be very discouraging.

I think some of the US traders opt in to using offshore unregulated brokers due to limited information out there and several US restrictions.

You are the main resource to get information on US trading.

Thanks you,

Gabe

[Alan Northam]

Hi devgabriel300,

I thought I would follow up on your comments.  Can you share some detail about what you are referring too as limited information and the several US restrictions so I can address them?

Alan,

[devgabriel300]

Hi Alan,

Restrictions like the FIFO, leverage size.

Most of the profitable EA’s i have seen requires a larger leverage size (lower investment capital) or low leverage (higher capital). And US brokers have a maximum leverage of 1:50.

Additionally, I compared the spreads on my Oanda and Forex.com demo account. Forex.com had better spread than Oanda, however, i could not use EA on the demo. So i had to go with Oanda even though the speads were higher.

Gabe.

[Alan Northam]

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,

[devgabriel300]

Thanks Alan,

This is very helpful. Your analysis is on-point. Your multiple account approach makes sense, also I didn’t consider the commission on forex.com.

I’m checking out the DarwinxZero now.

I’ll reach out if i have additional questions.

 

Thanks again ,

Gabe

 

 

[Ruuler]

Hello Allen,

I’m Brand New to Manual/EA Trading, live here in the States and recently purchased the Expert Pack.  Marin has been guiding me in how to expedite my learning curve as I’m 44 with wife and kids having shifted away from the Industry I’ve been in for 23 years into Trading to work from Home to in an effort to stabilize my marriage and family life and he recommended that I read through your threads to learn what Brokerages I can reliably use in conjunction with my Expert Advisors here in the US.

I initially found Petko and EA Trading Academy via DarwinExZero.com a couple months ago and am becoming more and more family with DarwinEx and DarwinExZero I confess I am still learning how to take full advantage of the Platform.

While watching Petko’s Beginners Course on EAs, Ilan demonstrates how he opens 4 demo accounts with different brokerages.

In an effort to follow Ilan’s testing method I would open Demo Accounts with each of these brokerages and run the EAs on each platform to split test which platform is the most profitable considering possible commissions, swaps and spread.

If I am correct, in this wonderful exchange you’ve had with Gabe  (thanks to both of you btw) about US Brokers that allow Algo Trading the only Brokerages you’ve found that are even viable for use are Oanda.com, TastyFX.com, Forex.com, Trading.com and of course DarwinExZero.com.

After all is said and done when, rubber meets the road which brokerage or brokerages have won your business based on the vast results you’ve experienced with your Expert Advisors?

Thank you in advance for your valuable time and attention… It is so greatly appreciated =)

With Gratitude,

Jordyn

[Alan Northam]

Hi Jordyn,

Outside the US there are many brokers traders can subscribe too.  This makes it possible to take the Expert Advisors EATradingAcademy offers and test them with these brokers to find out which ones provide the best profits and then use them as llan suggested.  Unfortunately in the US the selection of brokers is quite limited.  I have not had success using the EATradingAcademy robots on US brokers.  As a result, I have had to learn how to create profitable robots using EA Studio.

As to the the broker I use:  I use Oanda as it gives me 19 demo accounts where the other brokers limit from one demo account to three demo accounts.  I like Oanda as it gives me a lot of demo accounts so I can test out my robots.  I prefer to use real demo accounts to test out my robots instead of just relying on the back-test and Out Of Sample testing with EA Studio.  It takes longer to test the robots but I have found the results are worth the time spent.

As to creating robots using EA Studio:  I have 100’s of robots being tested all the time.  Once every month I will review these robots and delete the losers.  This way I keep a good quantity of profitable robots.  I will then select the robots to trade from this pool of profitable robots.

I have quite a few robots that have performed well over the longer time frame I use for my trading.  I have thought about offering them for sell to US traders but have not decided to do so as I am not sure it is worth my time as it takes considerable time to build up a client base.  I think it is unfortunate US traders do not have a good source of robots that are profitable when used with US forex brokers.

Hope this helps!

Alan

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