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Brokers for US Clients That Don't Enforce FIFO or Hedging

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  • Brokers for US Clients That Don't Enforce FIFO or Hedging

    I know we have a fairly large community of US traders here, and many experience continued frustration with the restrictions enforced by your regulators that don't allow hedging and enforce first in first out trade management (FIFO).

    Brokers that accept US clients are becoming increasingly scarce as US regulators continue to threaten any broker that accepts US clients without US regulation. Earlier in the year we saw the biggest offshore broker still accepting US clients, FinFX, fold to the pressure and restrict US clients from opening or operating accounts. However, since then I'm not aware of any further action against the few remaining brokers that do offer US clients a safe haven.

    Here are three recommended brokers that work with US clients and allow you to break free of the FIFO and hedging shackles

    Tallinex is the only broker that we have an affiliation with and one of the options for our VIP club whereby clients are able to deposit $20k and get free access to any of our signals (including FX Viper).

    Our experience with them has been nothing but positive. They answer our queries quickly, process withdrawals promptly and trade execution for our clients has been good. The main downside however is that they're regulated in the Grenadines, a location that's known more for it's fishing and beaches than it's stringent financial regulation. This likely means that in the unfortunate event Tallinex go broke, it's not likely you'll get your money back or be offered protection from any financial authority.

    Tallnex offer US clients leverage up to 1:1000

    ATC Brokers
    ATC Brokers is a white label of FXCM in the US (separate from the UK regulated body). It's important you understand this when opening an account because you'll get a mixture of emails from both organisations which can seem a bit weird for the uninitiated. The main guy there, Dave Manoukian, is really helpful and I've had nothing but positive experiences dealing with him. FX Viper's master account is traded here and experiences excellent execution (which adds a fair element of weight to their brokerage). There's also a nice automated client admin panel making deposits/withdrawals easy.

    They do have the the first in first out restriction, however it's a little different to other US brokers. As long as you don't open 2 trades the exact same size, FIFO doesn't apply. We've developed a workaround on our trade copier where we adjust trade sizes by 0.01 should a trade of identical size on the same currency be detected. It appears to be working perfectly and will likely be made available to clients in the coming month.

    ATC Brokers offer US clients leverage up to 1:50

    Squared Financial

    Squared Financial is regulated in Ireland and cater for professional (HNW) and institutional clients worldwide, I've recently learned they're also able to support retail clients from the US without any hedging or FIFO restriction provided they fit into 2 of the following 3 categories.

    - Work, or have previously worked in the financial markets
    - Have over $500k in financial assets (family home doesn't count)
    - Have placed more than 10 trades every quarter for the past 12 months

    Remember, you only need to tick 2 of these boxes to be accepted.

    I've also been told the regulation in Ireland gives all clients a 50,000GBP deposit guarantee similar to that offered by the FCA.

    If you have any questions about Squared Financial Sanjay Sharma < > is the best person to contact.

    Squared Financial offer all clients 1:100 leverage

    There are other brokers available to US clients, however I either don't trust them, or haven't had enough experience to offer an informed opinion.

    If you have any questions or comments please post below
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  • #2
    Nick, I have U.S client looking for a MAM account on Blackwave Pacific. Can you help? - Gary

    Gary Comey


    • #3
      FYI Squared Financial relationship managers insisted they are regulated by the Central Bank of Ireland which is inconsistent with a 50K guarantee as the guarantee in Ireland is 20K (yes we use Euro here)

      Their phone numbers seem to be UK numbers even though I was in their offices in Dublin a few years ago beside the Grand Canal, Dublin 6.

      Tallinex are obviously not regulated in any meaningful way as you said so either Central Bank of Ireland or FCA is presumably better if you are worried about security of funds.

      Perhaps security of funds will not be an issue however.

      Gary Comey


      • #4
        Brokers for US Clients That Don't Enforce FIFO or Hedging

        Although I'm Irish I have no particular connection in using Squared Financial (I may still use Tallinex or both)

        "Squared Financial Services Limited is regulated by the Central Bank of Ireland.
        Registered Office: Custom House Plaza 2, Harbourmaster Place, IFSC, Dublin 1, Ireland. Registered No. 399289.
        Directors: Youssef BARAKAT, Ronnie CULLITON, Philippe GHANEM (Swiss), Jeff GROSSMAN, Andrew MATHERS, Bachir RABBAT (Canadian)."

        I met Jeff Grossman before and he seems aggressive although it could be all part of the act. :-)

        Gary Comey
        Last edited by Blackwave; 12-19-2015, 11:22 AM.


        • #5
          I was too looking for some brokers who accept the US Clients! Found this list. Would share it as it can possibly help!

          Thank me later friends

          Happy trading!!


          • #6
            Has anyone tried LMFX . They accept US clients.. They are relatively new, and account opening seems almost too easy. They don't even require an ID.