Your Recommendation for Other Brokerages for US Citizens and Residents

[chy5398p]

Hello, everybody.

We are the citizens and residents of United States and we’ve been looking for the right brokerage for some time and it has been quite frustrating, to tell you the truth.

We did find two brokerages in the US, and they are Forex.com and Oanda.

However, there are two problems.

First, Oanda does have forex and cryptocurrencies. If we want to trade both, we have to open Oanda account for forex and another account called spot crypto account (from Oanda and Paxos) for cryptocurrencies. You can trade forex and cryptocurrencies by the Oanda app from your phone, but only forex by desktop/laptop computer. Indices, stocks, metals, and commodities are not available in Oanda. Also, Oanda does allow us to use MT4, but not MT5.

Second, Forex.com does allow us to trade forex, stocks, cryptocurrencies, indices, metals, and commodities, with the support from both MT4 and MT5. However, things get very tricky when we consider opening an account. If you only want to trade forex, you can open an actual Forex.com account. If you only want to trade stocks, you can open StoneX One account. If you only want to forex, cryptocurrencies, indices, metals, and commodities, but not stocks, you can open StoneX Futures account. (By the way, you can only trade Bitcoin and Ethereum if you want to trade cryptocurrencies in StoneX Futures account.) Sadly, Galileo FX will only let us use one brokerage account for each Galileo AI program.

To be honest, we want to have a brokerage where we can trade forex, stocks, cryptocurrencies, indices, metals (especially gold and silver), and commodities freely in one single account so we can fully utilize Galileo FX AI program without any restriction or limitation whatsoever.

In OX Securities, it does offer forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities one single account. If you want to trade forex, cryptocurrencies, indices, metals (including gold and silver), and commodities, you can use the trading platform MT4 or MT5. If you want to trade stock, you have to use the trading platform called IRESS, which Galileo does not support. Also, if you open a demo account from OX, you end up with a demo account that resembles a PRO account, where you pay US$7 for each two-way transaction (buy and then sell, or vice versa) in lots size of 1.0 (100,000 unit in US dollar), and Galileo FX AI program will only trade with investment options that have the suffix “PRO” (mainly EUR/USD, GBP/USD, USD/CAD, USD/CHF, XAU/USD (gold/US Dollar), and XAG/USD (silver/US dollar)), but not others, such as cryptocurrencies and indices.

We tried looking for other brokerages from other countries, but almost all of them said they won’t allow US citizens and residents to open their account, despite the fact that many brokerages from other countries do offer a wide, diverse investment options and better opportunities compare to Forex.com and Oanda.

So here are the criteria for a potential brokerage we want to meet.

(1) The brokerage should allow US citizens and residents to open their account with little or no restriction.

(2) The brokerage should offer a wide, diverse investment options, like forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities in one single account.

(3) The brokerage should offer a demo account and an actual live account where we can allow Galileo FX AI program to trade forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities in one single account without limiting to just only a handful.

(4) The brokerage must support MT4, MT5 or both.

What’s your recommendation for other available brokerages that meets all these four criteria? (It doesn’t have to be the ones from Unites States. It can be the ones from other countries, such as Singapore, Belize, Jamaica, Ireland, Cyprus, Malta, or even Qatar. Please do not say Forex.com, Oanda, or OX Securities, as these have restrictions on what we and Galileo FX AI program can trade with.)

 

[Andrew]

I have yet to find this all-inclusive brokerage as well. Really a let down after purchasing the Pro software. I don't feel like they were very clear about this as it pertains to US customers prior to purchasing.

 

[damrtin1]

Hello,
I'm a new member and waiting on some assistance in getting my download loaded up and running. I am a Mac user.
I live in the PNW of the United States. I'm interested in trading stocks, crypto, and currency.
Any help. would be greatly appreciated.
Cheers

 

[Mlsloan7]

StoneX One is not compatible with MT5 as I learned the hard way after opening an account with them and when I purchased Galileo FX for stocks but I have been limited to Forex trading since December. I reached out to their CS and they confirmed it so I have closed that account. I gave up trying to find a brokerage that allows US stock trading on MT5 but forex is quite profitable as well. Now my issue is for months I have tried downloading all the strategies that were successful. I have backtested till I am silly in the face and I have yet to find a combination that gives me profits. My funds are not large and most of these strategies are for large amounts that do not bode well with say 500$. This is now my homework as I am determined to get this running to at lease recover my investment. I may be interested in crypto so I would love to know of a brokerage that is MT5/US compatible.

 

[MadDawg]

You can trade crypto with Ox Securities in addition to forex and gold/silver.

 

[jondubrick]

Hello, everybody.

We are the citizens and residents of United States and we’ve been looking for the right brokerage for some time and it has been quite frustrating, to tell you the truth.

We did find two brokerages in the US, and they are Forex.com and Oanda.

However, there are two problems.

First, Oanda does have forex and cryptocurrencies. If we want to trade both, we have to open Oanda account for forex and another account called spot crypto account (from Oanda and Paxos) for cryptocurrencies. You can trade forex and cryptocurrencies by the Oanda app from your phone, but only forex by desktop/laptop computer. Indices, stocks, metals, and commodities are not available in Oanda. Also, Oanda does allow us to use MT4, but not MT5.

Second, Forex.com does allow us to trade forex, stocks, cryptocurrencies, indices, metals, and commodities, with the support from both MT4 and MT5. However, things get very tricky when we consider opening an account. If you only want to trade forex, you can open an actual Forex.com account. If you only want to trade stocks, you can open StoneX One account. If you only want to forex, cryptocurrencies, indices, metals, and commodities, but not stocks, you can open StoneX Futures account. (By the way, you can only trade Bitcoin and Ethereum if you want to trade cryptocurrencies in StoneX Futures account.) Sadly, Galileo FX will only let us use one brokerage account for each Galileo AI program.

To be honest, we want to have a brokerage where we can trade forex, stocks, cryptocurrencies, indices, metals (especially gold and silver), and commodities freely in one single account so we can fully utilize Galileo FX AI program without any restriction or limitation whatsoever.

In OX Securities, it does offer forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities one single account. If you want to trade forex, cryptocurrencies, indices, metals (including gold and silver), and commodities, you can use the trading platform MT4 or MT5. If you want to trade stock, you have to use the trading platform called IRESS, which Galileo does not support. Also, if you open a demo account from OX, you end up with a demo account that resembles a PRO account, where you pay US$7 for each two-way transaction (buy and then sell, or vice versa) in lots size of 1.0 (100,000 unit in US dollar), and Galileo FX AI program will only trade with investment options that have the suffix “PRO” (mainly EUR/USD, GBP/USD, USD/CAD, USD/CHF, XAU/USD (gold/US Dollar), and XAG/USD (silver/US dollar)), but not others, such as cryptocurrencies and indices.

We tried looking for other brokerages from other countries, but almost all of them said they won’t allow US citizens and residents to open their account, despite the fact that many brokerages from other countries do offer a wide, diverse investment options and better opportunities compare to Forex.com and Oanda.

So here are the criteria for a potential brokerage we want to meet.

(1) The brokerage should allow US citizens and residents to open their account with little or no restriction.

(2) The brokerage should offer a wide, diverse investment options, like forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities in one single account.

(3) The brokerage should offer a demo account and an actual live account where we can allow Galileo FX AI program to trade forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities in one single account without limiting to just only a handful.

(4) The brokerage must support MT4, MT5 or both.

What’s your recommendation for other available brokerages that meets all these four criteria? (It doesn’t have to be the ones from Unites States. It can be the ones from other countries, such as Singapore, Belize, Jamaica, Ireland, Cyprus, Malta, or even Qatar. Please do not say Forex.com, Oanda, or OX Securities, as these have restrictions on what we and Galileo FX AI program can trade with.)

Oanda supports MT4 i was going to use them but I use Mt5 on forex

 

[eversorimpium]

There is a way to open a normal demo account that does not resemble the Pro fee structure and Pro trading pairs. You do this by creating the account in your profile on the ox securities website first, then use the account number and password to log into it on the MT5 platform. I know you want an all-in-one solution here but unfortunately it does not exist at this time. Ox securities gives you the most freedom in trading out of all brokers available to US citizens. I know this because I spent months signing up for accounts with every broker I could find that allows US customers. Hope that helps.

 

[Mlsloan7]

You can trade crypto with Ox Securities in addition to forex and gold/silver.

Galileo FX recommended I open a OX Security account as they are the only MT4/MT5 compatible and offer the different markets in USA. I went through the scrutiny and was able to connect the account in MT5, I am currently playing with a demo account of the same size as my funds. They offer better leverage and spreads, although that may sound great, also implies risk as newbies we must consider. OX Security offers limited options to fund your accounts so US way is wire transfer. I either go to the bank personally or I pay 30$ to transfer it to OX. You can also use crypto transfer so I went that way and it actually worked last night. I was able to fund my coinbase account, buy crypto, it did have to settle the funds and then used my wallet to move it to OX. I may be overkill but I hate stepping in banks and likely would still have to pay a fee to move the money or pay 30$, that is an amount I can put into my trade account vs paying some bank. I hope to reach out again to Galileo FX Customer service for assistance with the settings as they said once I have my OX security account, to contact them again. I also noticed that Gold, and other markets with small accounts would wipe my account within days (backtesting a demo account). but then again my largest issue has been the bot settings accurate for my size account. BTW I have Galileo FX Personal.