Yes, that would be an improvement. However, at the moment there are tons of tasks ahead before we can move onto such details. Would a Broker Search do the job for now? It's got everything except for the maximum position size.

Hi BearPaw,

sadly, but that's a fact.
You have 2 options: move to an overseas broker or stay with a US based boker who has an office overseas. Such US brokers are: FX Solutions, FXCM, GFT, where you can open an account at their UK branch.

Hi, a cost of a pip doesn't depend on a leverage, it depends on a lot size you've chosen to trade with.
Thus, you'll be getting $10 a pip every time you open a 1 lot (100k units) trade, regardless the leverage you trade with, be it 200:1 or 700:1.

Absolutely, Frank

you can use 500:1 leverage with 2k account.
Check out our CyberSearch tool, I'm sure you'll like it:
http://www.100forexbrokers.com/fx/broker_search.php

The only broker I've found matching your criteria is: Wall Street Brokers

To have a better choice you'd need to either accept a lower leverage (200:1 - 400:1) or search for a broker outside US.

Thank you, Frank

I'll update FIGfx, and for Exness, I would need to have a look at their trading conditions =)

EXNESS chat:

Michael Levin: Hello
Michael Levin: how can i help you?
Me: Hello
Me: Your broker is regulated under those regulators national legislation and FSFR right
Michael Levin: Yes
Me: Can you give me their website and your firm registration name/number
Michael Levin: yess, but they are in Russian language
Me: no problem i can translate into google
Michael Levin: http://www.fcsm.ru/catalog.asp?ob_no=3586 icense#1421
Michael Levin: http://www.fcsm.ru/catalog.asp?ob_no=3586
Me: there is English version already @ their website
Michael Levin: they do not translate that information
Me: SO you are newly registered ?
Me: 18/08/2009
Michael Levin: Now we have received that license at pointed time
Me: Do you act as Counterparty to my trades and how my transactions are Excuted ?
Michael Levin: We act as market maker and we have 2 type of execution: instant and market
Me: Dealing desk ?
Michael Levin: yes
Me: so its not Automatic excutions
Michael Levin: why? instant means automatic
Me: then its no dealing desk you said Yes for dealing desk
Me: you dont charge commisions ?
Michael Levin: For Forex - no
Michael Levin: for trading
Me: so u profit from spreads ofcourse
Me: but i see prices is variable not fixed
Michael Levin: Yes
Me: is there a maximum trade size
Michael Levin: depend only on the deposit amount
Me: leverage up to 1:1000 on what account types ?
Michael Levin: on mini with equity less than 1000 USD
Me: and if it reaches above 1000 you automatically turn it to 1:200 ?
Michael Levin: no to 1:400
Me: 1:400 account limit ?
Michael Levin: to 5000 USD
Me: then ?
Michael Levin: from 5000 to 15000 USD maximum leverage is 1:200
Michael Levin: in above 15000 USD 1:100
Me: nothing less than 1:100 after that ?
Michael Levin: after that can be any leverage less than 1:100
Me: i dont understand
Michael Levin: We have only limitation if your account equity on mimi account will be higher than 15000 USD, leverage should be 1:100 or less
Me: If account reaches above 100 000 ?
Michael Levin: I suppose only 1:50 or less is possible
Me: Do you Guarantee instant executions on all account sizes ?
Michael Levin: from classic accounts it can be instant or market execution
Michael Levin: if you have more than 100000 USD only market execution is possible
Me: what does market executions means for your broker ?
Me: you there ?
Michael Levin: It is execution on the market price
Me: Access to interbank market Automatic what does this means ?
Michael Levin: And if I'm not mistaken no requotes even possible when you execute by the market
Michael Levin: It is only for Exeprt accounts
Me: Yes i know
Michael Levin: It means that your order will be executed on interbank exchange
Me: So its not like you broker will switch to ECN/Stp !!
Me: and By dealer's choice ?
Michael Levin: Somehow it is like this
Michael Levin: Dealer can also make execution on interbank up to his choice
Me: who is Dealer? at your side ?
Michael Levin: yes/ will be given to you, if you open and deposit classic type of account
Me: If dealer find that account owner is losing much then he wont let him access interbank and if he find account owner has profitable history then he will let him access interbank ? isnt it like this ?
Michael Levin: no, it in most of the cases depends on the volume you trade
Michael Levin: I suppose for 0.1 lot you will not be given acess to interbank
Me: Do u allow scalping ?
Michael Levin: Yes, we allow it
Michael Levin: no limitation for it
Me: if all of your clients have winning trades and you a market how does your broker profit then
Me: you are market maker*
Michael Levin: We hedge our risks
Michael Levin: so that to have enough money to pay to all our clinets
Me: hedge risks ?
Michael Levin: in any cases
Michael Levin: yes, why not?
Me: You hedge clients trades or what do you mean by Hedge risks ?
Michael Levin: I mean secure risks and hedge clients' positions
Me: Then this affect clients positions and profits ?
Me: till when you keep hedging ?
Michael Levin: it affect the only fact that in the case of our bancrupcy clients will receive their money back
Michael Levin: on mini accounts we hedge the cumulative valume of trades
Me: So you dont have segregated accounts ?
Michael Levin: from classic we may hedge volume like in mimi accounts, but if it is high, also hedge separate orders
Me: that protects clients from your broker Bankrupcy
Michael Levin: Yes, we do not have
Me: Do you give grantees for clients deposits/withdrawals
Me: Guarantees
Michael Levin: like what kind of?
Me: Like insurance
Michael Levin: That we will not take your money and deposit them?
Me: Yes Or/and don't withdraw and fund me
Michael Levin: yes, we guarantee deposit/withdrawals
Me: Do you have documentation for this ?
Michael Levin: No, we do not, but our clients have never face the problem of our Company takes their money
Me: then how i would insure that i get my profits what if i am profiting alot from forex market.. i am willing to open a 50k $ account size and i am a scalper and i have strategies that can triple this 50 in less than a month ..!!
Me: i guess this wont work with you broker as i would let it lose !!
Michael Levin: in this case case you can contact FSFR
Michael Levin: If you complain that we will notgive your money/profit back
Me: So you have the ability to pay high volume traders their profits even if you are the market !
Michael Levin: Yes, we are able to do this
Me: How many trading Expert accounts does your broker have ?
Michael Levin: No we do not have deposited EXpert accounts
Michael Levin: the owners of them test their strategies now on demo
Me: whats the total accounts do you have at the moment ?
Michael Levin: More than 3000
Me: Okie thanks for the help and have a great day