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Not really, there is even a major difference between an actual ecn and a bucketshop, do you use an institutional brokerage or do you use IB?

I find your opinions interesting, and I'm often in concurrence. I understand you trade FX, do you use IB or what broker do you use, out of curiosity? The reason I ask is because there aren't many choices if you're a US Citizen these days.

Looks like IB is literally the last semi-honest ecn fx broker with an actually decent API. If IB goes down, it literally is over for the retail US fx market, americans would either have to give up on citizenship and go abroad, or trade futures, which aren't as liquid. No more retail currenex...

So what type or class of brokerage would you recommend?

What do you think about what happened to Pipeline? Allegedly, even institutional broker-dealers such as GS are doing this type of 'front-running' with Sigma-X now. It seems the best way to avoid these types of situations is to use an agency brokerage.

Vision Financial has Realtick and Suretrader has DAS, they support Canadian clients.

Curiously, there used to be a thread on ET regarding this subject, but apparently it was removed. There were already people talking about what Lightspeed was doing at the time, a few years back. I don't have the exact quotes, but here is a paraphrase I can give: " Various people who have used...

Seems I was somewhat early-to-the-game with this.

Well, if you earn less than the limit, it's another story, but many foreign banks won't even open accounts for US citizens now as a result of FATCA. Anyhow, you are still technically liable to IRS/US gov laws, despite falling under the limit, so you can't avoid those laws.

No, the short-term capital gains rate is still 33%, making the puerto rican 'tax break' effectively worthless for traders. As far as long-term gains go, that's still around 23.8%, for the US Federal rate. Sure, Puerto Rico has 0% long-term capital gains taxes (for now), but people who make a...

You don't get it. If you're a US citizen, you have to pay the same federal taxes to the IRS no matter where you live on the planet. The only 'discount' you get is if you are a resident of puerto rico, but even then, short-term capital gains are still 33%, vs otherwise 43%, which is nowhere...

"Alleged links to terrorism", nice try, but with that name we know he isn't muslim, if that was the angle you were going for. Cohen is a jewish name, and some would allege the Israeli Mossad to have engaged in terrorist activity itself, but that's neither here nor there. As for SAC Capital...

Looking back to the beginning of this thread, I see the issue. Spot Gold and Gold Forwards are traded OTC like FX. In fact, many of the FX ECNs also have offer XAUUSD. Comex actually doesn't do much in the way of deliveries, and they have cash-settlement if need be, the physical Gold/Silver...

Both he and the other guy are probably using retail IB to trade, and not an institutional-grade FCM, so they might not understand the institutional clearing/credit authorization dynamics, which goes for any product, exchange traded or OTC traded. This thread seems to sum it up quite well...

ICE and CME have APIs for their OTC clearing services: http://www.cmegroup.com/clearing/clearport/clearport-api.html If your platform (like TT) has integration with these APIs and your FCM has cleared you for trading...

It's traded on ICE https://www.theice.com/publicdocs/ICE_OTC_Heat_Rate.pdf And TT also supports it: https://www.tradingtechnologies.com/support/advisories/2009/11/epn060-09/ If you're credit-cleared and authorized for margin on any product, whether OTC or exchanged traded by an FCM, you...

This is true. The 'capitalist' US has the second highest short-term capital gains rate on earth (after australia, which is 45-46%) at 43.4% (39.6+3.8), this is even higher than the capital gains rates for 'socialist european' countries. If you're an equities trader in the US, you are getting...

Edit, For Australia, it's 45%: There's a 1.5% surcharge, which is rising to 2%, so it will be 47% for short-term capital gains/income in australia.

It's apparently worse for US traders than I originally imagined. http://www.cbiz.com/page.asp?pid=9162 If you're a canadian trading us markets you only pay the 22% canadian capital gains tax rate, and 15% for dividends (under the tax treaty). If you're an american, now you pay almost 43.4%...

This is what bitcoin is missing. You can have a cash settled futures market and use the fix protocol for market data and execution. Of course, you can also have options on those contracts. Preferably, it may even be decentralized similar to Bitcoin itself. The 'Colored Coins' concept looks...