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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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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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