US MT5 Broker

[[Deleted]]

I'm unable to find a broker in the USA that allows MT5.  Any suggestions?

Thanks in advance,

Jeff

[Sergey Golubev]

There is one thread about how to find: Meta 5 for US trading

[[Deleted]]

Sergey,

Thanks for the info, but that thread only appears to show one company.  I just attempted to select them in the MT5 interface and it's impossible to open a live account.  At this point, it appears there are no US MT5 companies, and those that use MT4 block hedging, which makes MT4 not very useful.  Appreciate any recommendations.  

Cheers,

Jeff

[Fernando Carreiro]

Jeffery C #: Thanks for the info, but that thread only appears to show one company.  I just attempted to select them in the MT5 interface and it's impossible to open a live account.  At this point, it appears there are no US MT5 companies, and those that use MT4 block hedging, which makes MT4 not very useful.  Appreciate any recommendations.  

You did not read very attentively then. At least 5 brokers were directly mentioned. I also suggested contacting regulators (provided two links), in order to get a list of more.

Please read the thread and any sub-threads again.

[[Deleted]]

Fernando,

I actually did read.  I had already attempted to open accounts with multiple of the companies listed in the forum and on the MT5 interface, to no avail (which is why I asked my question here).  Those companies will not allow someone from the US to open an account.  As for contacting regulators, that's pretty pointless.  If the software developers of MT5 don't know of any trading firms in the US (that they would be working with), then the regulators certainly won't know.  It seems an obvious tact that MQL5 should have companies listed by country they support, for easy searching.

I was told by support at Forex.com that US regulations don't allow trading in the US by hedging OR closing FIFO (I don't think I believe the FIFO statement because my ETrade trades automatically close FIFO)...  Therefore 99.9% of the signals and apps for Meta Trader aren't useable for someone in the US.  I guess that's well known to MQL5 since there are checkboxes to remove these two from the signals listed (on MT4).  When doing that search, there are only 8 signals left and those have very bad history.  I could throw darts at a chart and get more consistent results.

I'm not complaining, just stating a fact.  It would be great if people in the US could use MT5 (with apps and signals), but obviously that's just not possible.

Sadly I'll be closing my account with Forex.com and moving on.

Have a great day,

Jeff

[Fernando Carreiro]

Jeffery C #: Fernando, I actually did read.  I had already attempted to open accounts with multiple of the companies listed in the forum and on the MT5 interface, to no avail (which is why I asked my question here).  Those companies will not allow someone from the US to open an account.  As for contacting regulators, that's pretty pointless.  If the software developers of MT5 don't know of any trading firms in the US (that they would be working with), then the regulators certainly won't know.  It seems an obvious tact that MQL5 should have companies listed by country they support, for easy searching. I was told by support at Forex.com that US regulations don't allow trading in the US by hedging OR closing FIFO (I don't think I believe the FIFO statement because my ETrade trades automatically close FIFO)...  Therefore 99.9% of the signals and apps for Meta Trader aren't useable for someone in the US.  I guess that's well known to MQL5 since there are checkboxes to remove these two from the signals listed (on MT4).  When doing that search, there are only 8 signals left and those have very bad history.  I could throw darts at a chart and get more consistent results. I'm not complaining, just stating a fact.  It would be great if people in the US could use MT5 (with apps and signals), but obviously that's just not possible.

The premise, is not to ask the regulators which brokers support MT5. It is for you to first obtain a list of all regulated brokers, and then to contact each one (or to research their websites), to see if they offer MT5. Some may not offer it directly, but offer a "bridge connection" for it. Also, your original question was about finding US brokers, not about subscribing to Signals that are suitable for the US.

One thing should be noted, however. The USA is the country that most represents the idealistic capitalist view of unregulated supply and demand, yet strangely in this case, it is the very country that most restricts its citizens in regards to retail trading. It is the only country in the whole world that I know of, that imposes the "netting" or the FIFO model.

So, it is not at all surprising that in the given "capitalist" view, the supply and the demand, for products, signals, etc. is mostly on the side of the "hedging" and non-FIFO model that is practised by the rest of the world and mostly in favour of the unrestricted practices.

Please note, that I am not trying to be a jerk or negative in any way. Just stating an observation of the state of things and how ironic it seems to be.