I get the impression from my question about which forex brokers USA residents use , that there are not many USA based traders trading Forex on this board ... p.s. trading currency futures does not qualify as forex trading...
there is a reason for that. Most forex brokers lost their licenses in US for the simple fact that they were just Bucket shops. They thrive outside US by picking their customers pockets. Most who trade currencies (me and my partners do) in the US use CME currency futures. If one is big enough, you can trade spot at banks.
IB removed it a long time ago. Not sure if they offer it outside US. CME currency futures are great and real markets to trade currencies.
This is strange. I've had the impression for years now that ET is most heavily populated by US traders. So I did a Google search for indicative phrases on this site - US trader indications - IRS = 866 results Dow Jones = 685 New York = 2,620 NYSE = 2,410 Dollars = 4,040 UK trader indications - HMRC = 53 FTSE 100 = 204 London = 1,530 LSE = 334 Pounds = 1,020 And now the clincher - US - sidewalk = 184 UK - pavement = 102 I think US traders certainly out-weigh us Brits.
I don’t understand why IB is not offering Forex in the USA , they do in Europe ...they are regulated in the USA ... cheaper to trade Forex spot ...IB has average 0,15 pips spread on eur/usd , futures has 1 pip minimum spread
IB does still offer FX in the USA. However as an SEC firm they have onerous requirements. I think that it is $10mm in your account unless you meet a number of exceptions. Being series 7 licensed works if that applies.