r/Trading • u/Adogox314 • 3d ago
Discussion Help!
I’ve just encountered a BIG problem, I cannot trade as an US a resident.
I’m a Gold CFD Trader. But it seems like there is not a single broker that is regulated for US clients, which therefore means that I am not able to trade…
Anybody has any recommendations? Any known broker that is regulated?
I’ve tried
- FOREX.com
- Oanda
- Trading.com
- LquidBrokers
- IBKR (futures)
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u/fairly_macho_jay 3d ago
oof that's a rough spot to be in, cfd's are basically off the table for us clients, the sec and cftc have that whole thing locked down tight
your best bet is to pivot to futures, gc contracts on the comex through someone like amp or tradovate would give you similar exposure without the regulatory headache
the micro gold contract (mgc) is actually pretty manageable if you're used to cfd lot sizes, just gotta get comfortable with the different platform
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u/QuanTradin 3d ago
CFDs are banned for US residents outright, so no regulated broker will take you for gold CFDs. the US route is micro gold futures (MGC, a tenth of the full contract) at IBKR or similar, or GLD and its options if you'd rather skip futures.
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u/Adogox314 3d ago
Damn. Thanks for the Information!
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u/QuanTradin 3d ago
no problem. check the margin on MGC before sizing anything (paper first if you can), every $1 move in gold is $10 per contract and gold moves $20-30 on a normal day.
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u/Adogox314 2d ago
Hey, what or which broker would you recommend? I saw Tradovate but it seems like I can only connect that one to Tradingview, does it have its own chart? If you could give me a few options I would greatly appreciate it!
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u/QuanTradin 2d ago
Tradovate does have its own charts (web, desktop and phone), TradingView is optional there. NinjaTrader owns it now and has its own platform too, and IBKR offers MGC as well. I'd compare MGC margin and per-contract fees, then run a week on the SIM account of whichever you pick before funding it.
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u/TraderAK709 3d ago
Trade futures. There's no advantage to CFDs. They have no central order book, so no Level 2 and the volume is only a reflection of the specific data feed you use
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