FXDD: Now What?
The only Forex company I knew based in the US that weren't members of the CFTC and NFA was FXDD but starting 11/29 of this year they will complete their process of registering with the CFTC and will be joining the NFA and since I was considering opening an account with them I no longer will. Was FXDD the only forex broker based in the US not members with NFA?
Yes, I will be closing my accounts with them.... I am sad to see them go... I made good money with them.....THEY'LL BE A TOTAL WASTE OF TIME NOW.... I don't know of any other good US Brokers...I don't think there are any.... IBFX and FXCM are crooks with their Virtual Dealer Plugins for MT4... Plenty of good EU and Asian Brokers....
What about Canadian broker BaronFX.com?
I came across jadeinvestments.com and thecollectivefx.com which are based on the US but the smallest size you can buy is 10K, nothing smaller 0.1. The few reviews that they have with FPA are very positive.
I have an account with theCollectiveFX and they are excellent -- no spread padding, no commissions, no dealing desk. Instead, you pay a monthly membership fee based on tiers of trading volume you expect to trade. The principals make their money as traders, not off of traders -- the fees go to defray the costs of the servers, etc.
As far as I know, they are the only way you can trade micro lots, mini lots and standard losts on the same straight-through feed to the liquidity provider, which is ideal for testing EAs on real money -- micros will run the exact same as standard lots! Also, since they are NOT a counter-party to your trades, they are immune to the NFA anti-hedging rules.
Only problem, they are not currently accepting new active account members.
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