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FXCM ( not allowing USA traders )?


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FXCM ( not allowing USA traders )?

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  #1 (permalink)
memphis
 
 
Posts: 59 since Mar 2020
Thanks: 104 given, 17 received

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)
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)
memphis
 
 
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mrburns - Thank you for that update

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  #4 (permalink)
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)
Legendary Market Wizard
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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)
Site Sponsor

Web: Zytrade
 
 
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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
dbrady@zytrade.com
Toll Free: 888-240-7099

https://www.Zytrade.com

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  #7 (permalink)
garopaba + santa catarina
 
 
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FXCM are scammers, from what I could gather googling about them

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