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Trading with the Best Forex Brokers in the US • Benzinga

Many people find the forex market one of the easiest financial markets to start to trade. You just need to open up an account with an online broker and deposit some money as margin to get started trading currencies. To select the best forex broker to trade forex with, you need to do some upfront…

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Many people find the forex market one of the easiest financial markets to start to trade. You just need to open up an account with an online broker and deposit some money as margin to get started trading currencies. To select the best forex broker to trade forex with, you need to do some upfront research to determine which is most appropriate for your experience level and requirements. Since not all online brokers take U.S.-based traders, read on for Benzinga’s top picks for brokers that do. 

Account Minimum

100 of your selected base currency

Pairs Offered

80+

Minimum Trade Size

$1,000

Spread

0.2 pips – 1.0 pips

Commisions

$0 – Variable starting at $60 per million traded depending on account

1. Best Overall: FOREX.com

FOREX.com is a fully-owned subsidiary of GAIN Capital Holdings (NYSE: GCAP), and this popular online forex broker ranks best overall for U.S.-based traders. You will need just $50 to open an account, and the broker offers 80 currency pairs you can trade in. 

This broker submits to regulation by both the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC) in the U.S., as well as to regulators in 6 other major jurisdictions around the world. Take a look at Benzinga’s FOREX.com Review for additional details about this top-rated broker. 

U.S. traders can use FOREX.com’s sophisticated Advanced Trading Platform, but only non-U.S. residents can use the free MetaTrader platform from MetaQuotes.

That might be a problem for U.S. traders interested in using automated trading software written for MetaTrader. 

FOREX.com’s Advanced Trading Platform, Source: FOREX.com.

Account Minimum

$50 USD

Pairs Offered

47

Minimum Trade Size

0.01

Spread

starts at 1.0 pips

Commisions

N/A

2. Best for Social and Copy Trading: eToro

eToro offers a super easy-to-use social and copy trading service that allows you to duplicate the trades of other experts who have a proven trading track record. eToro also has good educational options for novice traders.

The broker does not support the MetaTrader platforms, but just about anyone can easily operate its very intuitive trading platforms and mobile apps.

eToro supports trading in over 2,000 different assets, and you’ll need a minimum deposit of only $50 to get started. eToro accepts clients from many states, and while it is not registered as an online broker with the NFA and CFTC, it is registered with the U.S.

Financial Crimes Enforcement Network (FinCEN) as a Money Services business. The company also submits to regulation in the U.K., Australia and Cyprus.

eToro’s copy trading platform. Source: eToro.

Commissions

$10 value per pip

Account Minimum

$0

3. Best for Forex Platforms: IG US

IG lets U.S. clients trade contracts for difference (CFDs) in over 17,000 different assets that include forex pairs, stocks, indices, bonds, commodities, exchange-traded funds (ETFs), options and short-term interest rates.

Forex traders can operate in 80 different currency pairs through IG with just a $250 minimum deposit.

U.S.-based clients can trade through IG since it is overseen by the CFTC and NFA.

In addition to its decent proprietary trading platform, IG also supports popular 3rd-party forex platforms like MetaTrader 4 and ProRealTime. 

IG’s trading platforms for mobile and desktop. Source: IG Trading

Commissions

$0.09 per micro contract

Account Minimum

$400

4. Best for Futures Traders: NinjaTrader

NinjaTrader may be best known for its sophisticated trading platform but it also offers an online brokerage service that caters best to futures traders that wish to focus on contracts listed on the CME, CBOT, NYBOT and Eurex exchanges. In addition to futures contracts, you can also trade forex, CFDs and stocks using NinjaTrader. 

As a broker, NinjaTrader has low margins and charges very competitive commissions that keep your per futures contract costs low. You can get started trading futures with just a $400 minimum deposit at this broker. 

NinjaTrader’s popular trading platform offers advanced charting features, market analysis functions and simulated trading, as well as 3 different licensing levels to best suit your needs and budget. 

NinjaTrader’s advanced trading platform. Source: NinjaTrader

Commissions

$0.005 per share
minimum $1 and maximum 0.5% of trade value; volume discount available

Account Minimum

$0

5. Best for Advanced Traders: Interactive Brokers

Interactive Brokers (IBKR) offers a world-class brokerage service to U.S.-based clients that encompasses 134 markets in 33 countries. Forex traders will appreciate that IBKR lets you trade 23 different currencies against each other. The company’s U.S. regulators include the CFTC, NFA and the U.S. Securities and Exchange Commission (SEC). The broker is also regulated in the U.K., Australia and Canada. 

The broker also features very competitive trading costs, such as a $0 commission on U.S. stocks and ETFs. To start trading with IBKR, you will need a $10,000 minimum deposit that gets applied to commissions for 8 months, with a $2,000 minimum thereafter. IBKR also charges maintenance and inactivity fees, so it’s best for advanced and active professionals who have plenty of funds to trade. 

The broker’s own well-rated trading platforms include its Desktop Trader WorkStation (TWS), Client Portal and mobile app. They allow you to trade multiple asset classes, including options and offer sophisticated market analysis functionality. 

Interactive Brokers’ TWS trading platform. Source: Interactive Brokers.

Why Trade Forex

Making a forex transaction involves the simultaneous purchase of 1 currency and the sale of another at a given rate of exchange known as an exchange rate. Forex traders make a profit by buying 1 currency pair low and selling it high, or by selling 1 currency pair high and buying it low. Making profits is the primary goal of forex trading. Many people like to trade forex because they can get started so easily by opening up a trading account and downloading a free trading platform like MetaTrader.

Forex Pros and Cons

The forex market has a unique set of pros and cons for traders that include those listed below.

Pros

  • High leverage: Because an exchange of currencies at the going market rate has no net value, the use of leverage in forex trading allows you to control quite large positions with a rather small margin deposit. This increases your risk but also lets you benefit from relatively small exchange rate movements. 
  • High liquidity: The forex market is the largest financial market in the world, so it has a very high level of liquidity in the major currency pairs. This allows for sizable transactions to be executed in those pairs at virtually any time during normal trading hours. 
  • Around-the-clock trading: The forex market remains open for trading at all times from 5 p.m. EST on Sunday until 5 p.m. EST on Friday, even during U.S. holidays. This provides constant trading opportunities during market hours. 

Cons

  • Fewer asset choices: While many stocks can be traded, only a relatively few currency pairs are available to forex traders, and not all of them are highly liquid like the majors.
  • Volatility: Strong movements can occur in the forex market as new information is digested by participants. This volatility can result in unexpected gains or losses for traders. 
  • Unregulated OTC market: The Interbank forex market trades over the counter (OTC) and so it remains largely unregulated. Still, some regulations are put in place in many jurisdictions to protect retail traders making transactions through online brokers. 

Select a Good Broker

Your online forex broker will serve as your primary trading partner, so choose one carefully. You will definitely want to make sure any broker you select is well-regulated, has a good reputation with clients and meets all of your trading requirements. You can easily try out the services of the forex brokers you like by opening up demo accounts with them to see if any brokers feel right for you. Demo accounts also let you practice trading, and that can save you money if you learn to avoid common trading errors. 

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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at https://www.toptal.com

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”

 

The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.

 

The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk

 

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