Hello. I am interested in putting up a deposit of 5k and trading a 50k forex account. I am looking for a prop firm without overnight restrictions and that would allow me to draw down my deposit. Does anyone know of any firms that I can contact.
why do you need a prop firm when a firm like oanda would give you the leverage and you can do what you want with your money afterwards.
It depends if you are in the us or not. Outside the us it is easy to find an FX broker to give you 50 times leverage. Even in the us there are options which I am sure someone will elaborate on.
For sure, OANDA in the U.S. provides between 20x to 50x margin depending on which pair... https://www.oanda.com/resources/legal/united-states/legal/margin-rates
Does Oanda book the US traders bets or are they a true midleman in a real market? (I have never traded FOREX or futures but understand the difference)
I am not quite so sure you really understand the difference ... I think you don't have the money to trade the real interbank market where the minimum to trade is 1 million lot size ... oanda does a good job at making markets (I am a client there for over 15 years) but if you want a real market you only can get the limited futures that trade on globex as a retail person