While I am not an expert and have a lot to learn, I have had experiences working with international brokers. As a US citizen, we don’t have to like it; we just need to accept it if we want to start being an algo trading investor.

1. Why do I need an international broker? The US brokers will not provide the necessary leverage to allow the algo trading bots to operate. US brokers may offer a leverage of 50:1, while international brokers may offer a leverage of 500:1. The bots I am familiar with need a 200:1 minimum to operate.
2. Which broker should I choose? The most welcoming international broker is OX Securities. They will create accounts for US-based persons or LLCs. If you are not from the US, many more options are available. Other brokers say, “No US citizens.” Yet, there are tales I read where Canadian addresses can be generated to get past less scrutinizing approval processes at other brokers.
3. How do I get the money to the broker? This depends on the brokers you choose. If the broker gives you only 2 crypto choices, then you need to abide by their rules. If you choose OX Securites, you can wire the money there. And, if you have Chase bank, my deposits often get there the same day.
4. How do I get money out? Again, your choices are dictated by the broker. When I do OX withdrawals, the money doesn’t get out as quickly as it gets in. I believe the last withdrawal took 3 days. The money is deposited into my designated checking account. If you use crypto or the broker requires it, I am not familiar with how efficient this process is.
5. How many bots can I have with the brokerage account? I am still working on this one. With my OX Securities account, I can have five FX accounts underneath it. I have tried to add additional FX accounts, but the broker has not created them for me. There are exceptions to this rule, but each bot needs its own FX account. (The Fed and Gold Digger share an account.)

Other Considerations

1. I like to have an FX account to park money in for withdrawals. Otherwise, you would be pulling money out of an FX account that is being actively traded. If you plan correctly, this shouldn’t cause a drawdown problem. This is just a preference thing for me.
2. The “withdrawal” account can also be the “deposit” account. At OX Securities, it is easy to move money from one FX account to another.
3. As mentioned above, moving money from Chase has been very easy for me. I have heard tales of lengthy transfers when a US broker is involved. (If someone is selling an investment at Fidelity/Schwab and moving it directly to the international broker.) It might be easier to move the money from the broker to your bank and THEN transfer to the international broker…just a thought.

If you get past this part of building your personal “bot farm”, you are destined for success. Good Luck!