forex.com for US residents, still the default option?

[Dean]

US based traders have limited broker options because of CFTC and NFA restrictions. forex.com (gain capital) has been the default for years - they're regulated, they take US clients, they're not going to disappear.

but their costs are noticeably higher than what international clients get at brokers like ic markets. the question for fellow US traders: have you found a better alternative? oanda US? tastyfx (formerly ig)?

curious especially for active traders, where the spread/commission difference compounds.

[Justin]

US trader here. moved from forex.com to oanda US 2 years ago, never looked back. oanda's commissions on their core account are lower for my volume and their api is genuinely good if you do any algo work. execution is comparable. customer service is better.

[darkhorizon]

+1 on oanda for active US traders. forex.com is the safe default but oanda is meaningfully better for anyone trading more than 5 lots per month. tastyfx is also worth a look if you trade indices/futures alongside fx, their unified margin is convenient.

[urbanfox 0]

is it worth using a non-US broker through a VPN? ive seen people mention it

[skywavee]

technically possible, but the risk is real. brokers detect US IPs through multiple methods (not just IP, also banking patterns). if caught, account frozen, funds returned eventually but possibly with delays. and you have no regulatory protection because you violated their terms of service. legal in the sense you wont be jailed, but you accept significant counterparty risk. id recommend against.

[danielw_]

us regulators saved us traders from offshore scams by making the only options expensive. cool cool.

[Dominic]

us fx market is suboptimal i agree but oanda has been good to me stopped chasing offshore options after a friend got his account frozen for 8 months at fxcm offshore. not worth the hassle

[mattlive]

the move that worked for me as a US trader: stop fighting the US regulatory cost and adjust strategy. wider stops, longer holds, less scalping. higher transaction costs effectively kill HFT-style strategies anyway. play the game the rules let you play.

[Adam]

oanda US for active. forex.com as backup.