HomeArticlesAdding another account – Interbank Fx Australia


Adding another account – Interbank Fx Australia — 6 Comments

  1. Ahh, I’m jealous 🙁

    I’m testing 3 brokers that are not even close to the same level of quality – fxopen, instaforex, and liteforex

    Would you happen to have any experience with those brokers?

  2. Hi David,

    I’ve never had an account with any of those brokers. I personally only use brokers that have a physical address, and are regulated in the US, UK, Australia or Switzerland. My FxPro account is the only exception, but it’s relatively small.

    It seems that US Citizens have less overseas options for some reason. Are you able to open an account at a UK broker e.g. Alapri UK or Forex.com UK?

  3. We’re pretty much blackballed over here. All of the brokers are being forced to turn their US Customers over to US branches that are enforcing these heavy regulation and they’re just not accepting new customers.

    I sent an application to Axitrader. Hopefully they will accept it

  4. Sounds like a difficult situation.

    Well at least the CFTC didn’t restrict the leverage to 1:10 I guess. That was their initial proposal. 1:50 is workable, although you’d obviously need a larger account balance to trade the same lot size.

    One positive is that the US regulation of forex brokers has improved a lot IMO. It’s very hard for them to play tricks, or modify trades afterwards. Plus the capital requirement rules and the monitoring process seems to have improved.

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