Hi all, So I currently use a charting program/broker that is a based in another country that doesn't allow me to place trades since I'm in the U.S. I really like their platform so I am going to continue using their charts, but I was looking for a broker to just place trades with, not use their charts. Can anyone recommend some good brokers that would fit my needs and allow me to place stops/limits? I appreciate the help, thanks in advanced. Regards,
Email me a little more information: Your name? What asset class? Size of the account? What else do you need? Bob
How much money are you looking at putting at risk ?? what style of trade ? which market. If Sub <1K and Forex / Index's then FXCM No idea on what's between these options. If >10K and futures then IB. Stocks no idea what's good these days.
@Brennan Ross What are you looking to trade? You have to be more specific. Stocks, ETFs, Futures/commodities? All US brokers and pretty different and provide different services and platforms.
https://en.wikipedia.org/wiki/Bucket_shop_(stock_market) As defined by the U.S. Supreme Court, a bucket shop is "[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in. "Bucket shop" is a defined term under the criminal law of many states in the United States that make it a crime to operate a bucket shop.[2]Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodityfuture, but there is no transaction made on any exchange. The transaction goes "in the bucket" and is never executed. Because no trading of actual securities occurs, the customer is essentially betting against the bucket shop operator in a game based on abstract security prices. While trading in a legitimate exchange also provides a similar game or wagering aspect, the one distinctive characteristic of a bucket shop is the mimicry of trading securities when no actual securities are traded. The bucket shop's exchange is a fiction, which the parties agree to imagine as following the events occurring in a real exchange. Alternatively, the bucket shop operator "literally 'plays the bank,' as in a gambling house, against the customer." [3] Operating a bucket shop in the United States would also likely involve violations of several provisions of federal securities or commodity futures laws.[4] https://en.wikipedia.org/wiki/Foreign_exchange_fraud Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission.[1] The foreign exchange market is at best a zero–sum game,[2] meaning that whatever one trader gains, another loses. However, brokerage commissions and other transaction costs are subtracted from the results of all traders, making foreign exchange a negative-sum game. ...................... Unfortunately most of the ET, especially those small trader < $1K account are trading in Bucket Shop. Unfortunately, 99.9% of them are losers. The cost in bucket shop (slippage, overnight swap) made them impossible to make any positive expectancy in long term.