Is there such a thing anymore? How can I trade spot gold? Oanda doesn't allow it anymore.
Any tips will be greatly appreciated...
Any tips will be greatly appreciated...
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DislikedI was of the impression that ETF's were allowed under the US regulations i.e. gold ETF futures?Ignored
DislikedU.S. brokers cannot offer CFDs (gold, silver, oil, etc....). You have a few options if you want to trade gold. 1-Use an off-shore account that has the gold CFD (XAUUSD) 2-Use the ETF for gold (GLD) in the equities market with a U.S. broker 3-Use gold futures (GC) or futures options The bad thing about trading the ETF is you'll have gaps since the market closes so stops won't work the way they would with CFDs which trade 24 hours/day.Ignored
Disliked{quote} How do I setup an offshore account? Is it simple or pretty involved process - requires setting up an LLC company and similar? Where can I learn more?Ignored
DislikedI found a broker that is not regulated yet has decent reviews forexbrokerinc.com. I deposited a small amount this morning and have been trading xau/usd since. I even got a bonus, though I wonder if they would allow me to withdraw it. Balance is my deposit, credit is their bonus. Both together make my equity. leverage is 200:1 which is just insane! Does anyone trade with them? Are they OK with withdrawals?Ignored
DislikedIf anyone is looking for an unregulated broker to trade spot gold with or whatever, I have to dissapoint you but forexbrokerinc.com is not an honest broker. Long story short about 5 weeks ago when I wanted to withdraw the money they said no problem. They requested some paperwork and signed request for withdrawal which I submitted and then I forgot about it. This week I realized they never credited my debit card so I emailed them. Now they are trying to say they credited my card already and want proof they didn't. At this point it is better I move...Ignored