US Forex Brokers In January 2023.
If you’re a US resident and wish to start Forex trading, you should choose a broker that is regulated by CFTC and NFA to protect your capital. Select from the best of these brokers like OANDA, Forex.com (Gain Capital), TD Ameritrade, Interactive Brokers, and ATC brokers.
Written by Justin Grossbard.
Written by Justin Grossbard Co Founder.
With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.
Edited by Laura Wolfe.
Edited by Laura Wolfe.
Laura is a freelance content writer focused on financial and legal technology, decentralized finance, cryptocurrency and related topics. Prior to beginning her writing career, she worked as an international disputes lawyer specializing in finance and construction cases in Paris, New York and Dubai. She holds degrees in law from Queen Mary University of London in Paris (LLM) and New York University School of Law (JD), as well as assorted other diplomas in Literature, French and Philosophy from New York University (MA) and the University of Georgia - Athens (BA Hons).
Reviewed by Riley Adams.
Reviewed by Riley Adams Senior Trading Editor.
As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge. He has a Master's Degree in economics at Penn State University and a B.A. & B.S., Economics at the Centenary College of Louisiana. He also owns the website Young and the Invested providing investing advice for young individuals.
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Best Forex Brokers USA List.
The top CFTC regulated US forex brokers are.
OANDA – Top US Forex Broker For USA Traders IG – Best Forex Broker For Beginners Forex.com – Has Tight Spreads TD Ameritrade – Great Forex Broker US Based Customer Support Interactive Brokers – Has Low Trading Fees Nadex – Only Broker To Offer Forex Options Trading.com – Best Metatrader 5 Forex Broker.
TD AmeriTrade.
Our Rating.
Forex specialist in USA.
Guaranteed stop loss orders.
Choice of trading platforms.
ThinkOrSwim Trading Platform.
Regulations and Licenses.
TD AmeriTrade.
NFA or CFTC (USA)
Brokerage.
TD AmeriTrade.
EUR/USD Standard Spread.
Commissions (USD Base)
Minimum Deposit.
Swap Free Account.
No Inactivity Fees.
Funding Methods.
No Funding Fees.
Markets and Instruments.
TD AmeriTrade.
Currency Pairs.
Cryptocurrency CFDs*
Index CFDs.
Share CFDs.
Commodities CFD.
Stockbroking.
Retail Max. Leverage (USA)
Major Pairs 50:1 Minor Pairs 33:1.
Major Pairs 50:1 Minor Pairs 20:1.
Spot 50:1 Futures 6.25:1.
*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations *CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.
Trading Platforms + Tools.
TD AmeriTrade.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
TradingView.
Proprietary Platform.
Automated Trading.
Social + Copy Trading.
MetaTrader 4 only.
Standard Stop Loss.
Guaranteed Stop Loss.
Demo Account.
Overall.
TD AmeriTrade.
Our Rating.
Broker Official Site Our Rating Regulation EUR/USD Spread GBP/USD Spread AUD/USD Spread MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Visit Broker > 8.83 NFA, CFTC IIROC - - - 120ms $0 68+ (Spot) - 50:1 100:1 Visit Broker > 8.23 NFA, CFTC FCA, ASIC - - - 130ms $450 80+ (Spot) - 50:1 50:1 Visit Broker > 7.28 NFA, CFTC FCA, IIROC - - - 160ms $100 55+ (Spot) - 50:1 50:1 Visit Broker > 6.21 NFA, CFTC IIROC - - - 110ms $2000 70+ (Spot) - 50:1 50:1.
US residents should use a forex broker regulated by the CFTC and/or NFA rather than an offshore broker. Regulation from the CFTC or NFA means the broker can legally offer financial trading services to American traders. Other considerations traders should consider include trading costs, trading platforms and the range of markets available for traders in the USA.
OANDA.
The Top Forex Broker For USA Traders.
OANDA is a leading global market maker that ranks in our top US FX brokers list for their no minimum deposit policy, comprehensive support for MetaTrader 4, round-the-clock customer support and competitive trading costs.
Key Strengths:
Access to quotes on 70 currency pairs with no dealer intervention 4 trading platforms (OANDA Trade web-based, desktop, mobile apps, and MT4) Powerful technical analysis tools powered by Autochartist Integrated economic announcements with the OANDA Trade platform Third-party software (MotiveWave and Dow Jones FX Select) Risk management orders Transparent pricing models.
OANDA Trading Accounts and Products.
Although OANDA’s two account types for US traders both process trades through a dealing desk, the unique fee structure on the Spread Only Pricing account and low commission fee on the Core Pricing account can lead to lower overall trading costs than with other top forex brokers.
OANDA’s Spread Only account offers average spreads of 1.4 pips on EUR/USD and USD/JPY compared to 0.4 pips average spread on EUR/USD respectively and 0.3 pips on USD/JPY for the core pricing model. While the Core Pricing account offers reduced spreads, it has an additional commission of $5.00 per side for every 100,000 units traded (or a $10 round-turn commission).
OANDA’s price engine technology connects to an exclusive liquidity pool formed by tier-1 global banks. At OANDA US, the price you see on the feed is the price at which your order gets filled. There are no re-quotes.
OANDA customers have a wide range of supported funding currencies at their disposal including USD, EUR, GBP, CAD, AUD, HKD, JPY, SGD and CHF.
OANDA’s American clients can also participate in an attractive rebate program that rewards high-volume traders with cash rebates and commission reductions ranging from USD 5.00 and USD 15.00 per million dollars traded.
OANDA Minimum Deposit and Account Funding.
At OANDA, US residents can fund their live accounts via debit card (MasterCard, Visa or Discover), bank transfer, check (USD) and automated clearing house (ACH). On the other hand, withdrawing funds can only be done via debit card and bank wire transfer.
OANDA Trading Platforms.
Americans trading forex with OANDA have a clear choice between two good options when it comes to trading platforms: MetaTrader 4 or the broker’s own in-house web, mobile and desktop interface.
Powered by TradingView, OANDA’s proprietary platforms have all the tools a trader might want, including performance analytics, personalized watchlists and advanced charting options. Technical traders accustomed to MetaTrader and cTrader might find themselves pleasantly surprised at how powerful OANDA’s offerings really are.
For those who prefer the Meta family of trading platforms and tools, OANDA allows MetaTrader 4 users to access additional tools, including advanced indicators, mini charts, alert trading, EAs, alert trading and one-cancels-the-other orders, keyboard trading and tick trading via MetaTrader Premium.
For automated trading, OANDA offers US traders a private API, OANDA v20 REST, which allows for automated trades via the OANDA Trade platforms.
Our Verdict On OANDA.
OANDA’s powerful analytical tools, tight spreads and extensive selection of trading instruments make it the ideal choice for experienced and beginner US forex traders.
Our Rating.
The overall rating is based on review by our experts.
Spreads.
Leverage.
Trading Platform.
Risk Management.
Range of Markets.
Customer Service.
IG.
A Good Forex Broker for Beginners.
With over 45 years of experience in the foreign exchange market and over 195,000 retail client accounts worldwide, IG Group is one of the largest forex brokers operating on US soil. Trading with IG US comes with several advantages for those new to trading.
Key Strengths:
Extensive research tools and trading strategy ideas Excellent educational tools and trading supports Great proprietary trading platforms.
IG Trading Accounts and Products.
IG’s CFD account charges no commissions and offers good leverage, making it an excellent option for forex traders of all experience levels. There is no minimum deposit requirement to open an account, however traders must meet margin requirements to take a trading position.
Leverage with IG extends to the maximum permitted by the Commodities Futures Trading Commission (CFTC) and the National Futures Association (NFA): 50:1 for major currency pairs, and 20:1 for minor pairs.
Due to state-level regulatory restrictions, IG US is not available to residents of Arizona or Ohio.
Among the US brokers we investigated, IG Group offers the largest number of currency pairs with minimum low spreads on EUR/USD and USD/JPY from only 0.8 pips. At IG, US clients can enjoy competitive spreads across over 70 currency pairs including:
Major currency pairs (EUR/USD, GBP/USD and USD/JPY) Minor currency pairs (USD/ZAR, SGB/JPY, CAD/CHF) Emerging currency pairs (USD/CNH, EUR/RUB, AUD/CNH) Exotic currency pairs (EUR/CZK, TRY/JPY, USD/MXN)
IG Trading Platforms.
Professional traders and casual investors agree that IG offers first-in-class proprietary trading platforms for web, mobile and tablet. From remarkably comprehensive market research to advanced charting capabilities – 20 drawing tools and 32 indicators – IG has every tool a trader might need coupled with the power a forex specialist could want in a single platform.
IG’s top technical tools for navigating the market and finding new trading opportunities include:
Streaming Reuters news integrated directly with the trading platform Autochartist tool for unbiased and timely analysis One-click trading directly from the charts Price alerts to notify you of forex price movements +100 indicators integrated with ProRealTime.
Our Verdict On IG.
IG brings decades of experience to its trading platform and market research tools, which means it’s an excellent choice for novice traders.
Forex.com.
The Broker That Has Tight Spreads.
Forex.com takes first place as the lowest of the low-spread US forex brokers thanks to spreads as tight as 0.0 pips on its STP Pro account. A no-dealing-desk model and straight through processing (STP) execution accounts enable the broker to process trades at market prices, which translates into tight spreads compared to no commission based trading account.
Key Strengths:
Sophisticated technical trading tools Great variety of currency pairs Fast trade execution STP and top of the book spreads.
Forex.com Trading Accounts and Products.
Forex.com offers an impressive variety of account types, more than any other brokerage we reviewed.
The Standard and MetaTrader 4 accounts charge no commission or funding costs and offer a minimum spread of 1.0 pip. Both are good options for discretionary traders. MetaTrader 4 accounts have access to the MetaTrader 4 trading platform, while Standard account holders will execute trades via Forex.com’s proprietary platform and NinjaTrader. The Commission and STP Pro Account types boast impressively tight spreads suitable for system traders: 0.0 for the STP Pro account and 0.2 pips for the Commission account.
As a retail trader, the commission account is likely to be the account you will be using. This account requires a minimum deposit of just $100 and has a flat commission of $10 round turn for each lot you trade ($5 per trade each way).
While the STP Pro account spreads are slightly lower than the commission account, this account allows you to save on commissions through the use of tiered commissions.
Tiered commissions means the more volume you trade the previous month, the larger the discount in commissions the next month. The catch – to use this account there is a minimum deposit of $25,000 making this account best for high volume traders. One thing to note is that commission costs will be lower if using commission account unless trading at least $1B each month.
Trading Products with Forex.com.
Forex.com stands out amongst the lowest spread US forex brokers for the variety of trading products available in the US, with nine major currency pairs, plus gold and silver, index futures and futures options.
Forex.com Trading Platforms.
Forex.com account holders have access to an impressive array of trading platforms. In addition to the broker’s own highly-touted web and mobile offerings, traders using the Standard account can opt for the NinjaTrader platform, which includes futures-specific charting tools and automations similar to MetaTrader.
At the Commission and STP Pro account levels, however, Forex.com offers a more limited range of trading platform options. STP Pro accounts run only on Forex.com’s in-house platform, and Commission account holders must trade on MetaTrader 4. The broker’s web and mobile platforms fortunately stack up well against MetaTrader, with trading from charts, advanced charting tools and other powerful features.
Our Verdict On Forex.com.
An easy-to-navigate trading environment, low trading costs and numerous trading platforms from which to choose make Forex.com a good choice for intermediate and advanced traders hoping to control costs without sacrificing a quality trading experience.
TD Ameritrade.
The Broker That Has Great Customer Support.
TD Ameritrade is a multi-asset broker that ranks in our top US forex brokers list due to their outstanding customer support. With over 40 years of experience providing trading services, TD Ameritrade is one of the largest broker-dealer firms in the US. The brokerage manages over 11 million trading accounts holding more than USD 1 trillion in assets and processes 500,000 orders on a daily basis.
Key Strengths:
Top-tier market research and analysis tools Excellent customer service Low trading fees, including free stocks and ETFs.
TD Ameritrade Trading Accounts and Products.
US-based forex traders will need to open a Standard account with TD Ameritrade. This dealing-desk account offers a variable spread that starts from 1.0 pips, but affords customers access to a comprehensive range of assets to trade.
At TD Ameritrade, US traders have direct market access to a wide variety of financial instruments, including:
70 major and minor currency pairs 300 ETFs 37,000 mutual funds 10 precious metals and commodities Cryptocurrencies.
TD Ameritrade Trading Platforms.
TD Ameritrade offers account holders the option to trade via a professional-grade terminal: thinkorswim. Available in desktop, web and mobile formats, thinkorswim provides many of the same features as MetaTrader 4, as well as some important extras:
Depth of Market views 400 technical indicators 20 drawing tools.
The broker also provides award-winning customer service. Live operators, many of whom are traders themselves, stand ready to assist with technical problems, trading strategy issues and account funding difficulties, no matter where you are in the world.
Our Verdict On TD Ameritrade.
Overall, TD Ameritrade is geared more towards professional traders. However, US retail traders can also benefit from the multi-asset thinkorswim platform, which is rich in technical tools.
Interactive Brokers.
The Broker With Low Trading Fees.
Founded in 1977, this ‘discount’ forex broker snagged a top spot in our roundup due to low trading fees, but that doesn’t mean IB skimps on the trading experience. This brokerage offers a solid selection of assets to trade, as well as comprehensive analysis, research and charting tools.
Key Strengths:
Large selection of assets to trade Strong market research and educational tools Low trading costs.
Interactive Brokers Trading Accounts and Products.
For daytraders and those new to forex trading, Interactive Brokers offers the IBKR Lite account. The broker does act as a market-maker, however trades bypass a dealing desk in favor of 17 forex-dealing banks. Variable spreads are exceptionally tight as a result and start from just 0.1 pips.
Interactive Brokers also charges a commission for round-turn trades of a standard lot, depending on volume.
Opening an IBKR Lite account can take a bit more time than with other top forex brokers, but does not require a minimum deposit. Note, however, that subsequent deposits incur a 1% funding fee, and the broker also charges between US$4 and US$10 to withdraw.
In addition to over 100 currency pairs, Interactive Brokers provides the opportunity to trade options, bonds, stocks, futures, commodities, mutual funds and crypto.
Interactive Brokers Trading Platforms.
US-based account holders can choose from Interactive Broker’s three home-grown trading platforms when trading forex: the IBKR client portal web trader; Trader Workstation on desktop and IBKR Mobile. Each platform includes powerful trading tools, such as FX Trader and advanced algorithms. IB Smartrouting aims to improve execution speed.
Daytraders interested in trading stocks, mutual funds or cryptocurrency also have the option to trade via IBKR Global Trader or Impact. The latter focuses on socially responsible investing.
Our Verdict On Interactive Brokers.
Though not the most intuitive of brokers when it comes to trading environment or pricing structure, experienced traders who can navigate the volume pricing will find a lot to like about the broker’s sophisticated trading platforms.
NADEX.
The Only Broker to Offer Forex Options.
Even though it’s a specialised exchange rather than a brokerage, we’ve included NADEX in our roundup on the best forex brokers for US traders to call attention to its unique range of products: binary options, call spreads and knock-outs.
The first financial services platform of its kind to be licensed by the Commodities Futures Trading Commission and the National Futures Association, NADEX is currently the best, safest way for forex traders to experiment with options contracts.
Key Strengths:
Dedicated to binary options and other exotic derivatives Easy funding and low fees Fully regulated and NFA/CFTC-compliant.
Nadex Trading Accounts and Products.
US-based traders can open three different types of options contracts using NADEX’s proprietary platform: call spreads, knockouts, and binary options. The underlying instruments for each contract are priced based on COMEX and NYMEX futures.
NADEX offers a simple, easy-to-understand trading fee structure for each of its three contract types. To open or exit a contract, traders pay US$1 in trading fees, and US$1 to settle a contract upon expiration. (If the contract is question is a binary option expiration contract, however, and the trader is out of the money upon expiration, NADEX charges no fee.)
Positions for each of the three contract types are capped: 2,500 for binary options, 250 for call spreads and 100 for knockouts. Minimum tick values range from US$1 for call spreads and knockouts to US$.25 for binary options.
Currently, the underlying assets available for binary options contracts on NADEX include forex, indices and commodities. Traders hoping for broader exposure or more volatile assets may need to explore alternative options.
Regardless of funding method, traders pay no fees to fund a NADEX account. Withdrawals also incur no fees, unless done by wire transfer.
NADEX does stand out from other platforms we’ve profiled, however, in that it does not allow traders to find an account with credit. Only payment methods backed by real cash, such as debit cards, checks, wire transfers and ACH transfers will do.
Nadex Trading Platforms.
Traders who require powerful support like advanced charting, technical indicators and sophisticated drawing tools might find the NADEX platform a bit bare bones. The available trading resources, in our view, more than suffice given the niche trading products available.
NADEX offers both mobile and desktop platforms for maximum freedom and flexibility. Traders have access to identical features and tools, regardless of how and where they choose to trade.
Our Verdict On Nadex.
Traders interested in learning more about exotic derivatives and options contracts can do so on NADEX with the peace of mind that comes from trading with a regulated platform.
Trading.com.
The Best MetaTrader 5 Broker.
For algorithmic traders and others who rely on expert advisors to manage their trading activity, MetaTrader 5 has much to offer. Of all the brokers we reviewed, however, Trading.com stands alone for its commitment to the next-generation MetaQuotes trading platform. With all the features of its predecessor, MT4, MetaTrader 5 also provides traders with the optimal environment for technical trading and above-average execution speeds.
Similar to Forex.com, which we reviewed above, Trading.com stands out more for competitive pricing than for sophisticated features. The commitment to MT5 and an easy-to-navigate trading environment earn it a spot as one of the best US forex brokers.
Key Strengths:
Straightforward trading environment Round-the-clock, live customer support Wide range of available instruments to trade.
Trading.com Trading Accounts and Products.
Opening a trading account with Trading.com takes little time and less effort. New clients will need to make a minimum deposit of US$50, however the broker allows traders to fund their accounts via credit card, wire transfer or ACH transfer.
Trading.com offers a single account option to US-based forex traders: the T1. While the broker does not charge a commission on trades, it does act as a market-maker. Spreads are slightly wider as a result and start at 0.7 pips. Leverage for major pairs tops out at 1:50 for maor pairs and 1:33 for minor pairs in accordance with CFTC and NFA limits.
The broker offers an excellent selection of forex pairs; 71 in total, including all major currency pairs, minor currency pairs and exotics.
Trading.com Trading Platforms.
While Trading.com does offer account holders the option to trade on its own in-house platforms, the real draw is MetaTrader 5.
The successor to popular platform MetaTrader 4, MT5 offers traders an environment fully optimised for algorithmic trading. The platform has capacity for 100 charts with 21 time frames, as well as 80 technical analysis tools. Users have access to a curated marketplace of custom-built and off-the-shelf trading robots, but can also code their own expert advisors specifically for use on the platform.
Note, however, that trading bots and EAs written for use with MT4 will not transfer to MT5 due to a difference in programming language.
Our Verdict On Trading.com.
Trading.com is an excellent option for cost-conscious traders looking for low trading fees, competitive spreads and a powerful platform to support algorithmic trading strategies.
eToro.
A Great Broker for Social Trading.
A pioneer in the “game-ification” of investing, eToro has great resources for new investors, eToro is an excellent brokerage for casual traders, those interested in social or copy trading, and crypto enthusiasts.
Key Strengths:
Supports social and copy trading Excellent selection of cryptocurrencies Innovative, game-ified approach to investing.
eToro Trading Accounts and Products.
For most American traders, eToro offers a single account option for trading cryptocurrency: Standard. Residents of some states, however, may find themselves eligible for only a virtual account due to regulations on cryptocurrency trading.
The eToro Standard account uses a dealing-desk model, and variable spreads start at 1.0 pips. Round-turn trades of a standard lot will incur a ‘spread plus 1%’ fee, and the broker caps leverage at 30:1. Costs associated with trading stocks and ETFs are competitive, however, and carry no commission. Stock traders can buy and sell fractional shares commission-free.
Another unique eToro feature? This broker allows traders to fund their accounts with popular cryptocurrencies, such as ETH, BTC and XRP.
In addition to 42 cryptocurrencies, eToro’s American account holders can also trade in stocks and ETFs.
eToro Trading Platforms.
In keeping with its overall commitment to social and copy trading strategies, eToro’s proprietary trading platforms offer several unique features designed to support these styles.
Account holders can stay up to date on market activity via a wall-like ‘feed’ of news and commentary from other eToro traders, regardless of skill level. For a more refined perspective based on activity by top traders, users can turn to eToro’s sentiment data analysis.
eToro does not offer account holders the option to trade via a desktop platform. Nor does the broker support third-party integrations for either MetaTrader 4 or MetaTrader 5, which limits the use of expert advisors and other trading bots. The analytical tools available on eToro’s in-house platforms should meet the needs of intermediate or beginner traders, but those with more experience who prefer the MetaTrader interface may feel restricted.
Our Verdict On eToro.
For casual or beginner traders interested in exploring day trading and those who prefer to trade only crypto, eToro has much to offer. Regulatory restrictions and a limited range of trading platforms and tools may render it less appealing to experienced traders and those interested in a wider range of assets, however.
USA Broker FAQs.
Can I Trade Forex in USA?
US residents can trade forex with a regulated forex broker. There are seven brokers in the USA that are CFTC regulated including OANDA, IG, Forex.com, TD Ameritrade and Interactive Brokers. Our comparison found OANDA has the best offering with a details explanation provided in the OANDA section.
Who is the Most Trusted forex broker?
TD Ameritrade is the most trusted broker based on market share. The Finance Magnates analysis found over 40% of FX trading accounts were held by the broker which also offers most other trading products from bonds to shares. Our TD Ameritrade section reviews the broker in more detail.
US Regulation for Forex Brokers.
Our team at Compare Forex Brokers believes regulation is one of the most important factors when assessing US FX brokers. Forex regulation in the United States is unanimously understood to be the most stringent regulatory framework in the world.
The strict rules that govern the financial services offered by the US Forex brokers give US traders the following advantages:
A level playing field in the FX market for all market participants Protects traders from irregularities and combat scam activities Transparency – regulated brokers need to disclose financial statements and submit audit reports Funds security – US brokers are required to keep client funds in segregated accounts Anti-money laundering – gives US clients the peace of mind their funds won’t be used in illegal activities.
Below, our team of investment professionals has outlined the major regulatory entities in the USA that supervise the financial markets, including Forex brokers.
USA Forex Regulatory Agencies.
In the United States, there are two financial watchdogs responsible for providing the regulatory framework for US-based Forex brokers:
Commodity Futures Trading Commission (CFTC) National Futures Association (NFA)
All US and overseas Forex brokers that intend to service US residents must register with the CFTC and NFA at the same time. Both regulatory bodies work together to protect US traders. Below our experts will outline a brief history of the world’s most trustworthy regulatory authorities in the foreign exchange market.
History of the CFTC and NFA.
The NFA is a self-regulatory organization (SRO) founded in 1977 as a CFTC committee but became an independent registered futures association in 1981. The National Futures Association began its regulatory operations in 1982.
Note* The NFA website offers US retail traders the chance to verify the status of US forex brokers via an online portal called Background Affiliation Status Information Center (BASIC).
These are some strict restrictions imposed by the NFA on the US-regulated brokers:
Limited maximum leverage of 50:1 on major currency pairs Limited maximum leverage of 20:1 on minor currency pairs FIFO rule (first-in, first-out) – this forex rule forces US retail traders to close the earliest trades first, in case multiple trades are open on the same currency pair No hedging allowed.
On the other hand, the Commodity Futures Trading Commission (CFTC) was established in 1974 by the US Congress. The CFTC is the ultimate regulatory body in the USA governing the Forex market. There are two major bills that provide the legal framework that constitute the rules regarding FX trading:
The Commodities Exchange Act Dodd-Frank Act Wall Street Reform passed into law by President Obama.
Below, our team of industry experts ranked the best CFTC and NFA regulated brokers in the USA. This evaluation accounts for their modus operandi, trading platforms, range of currency pairs, spreads, total costs of trading, customer support, and much more.
About The Forex Brokers USA Review.
Our experts at Compare Forex Brokers have hand-check for accuracy all the data provided through the Forex brokers USA Review. We used our proprietary star scoring system to rank US FX brokers.
Our methodology took into consideration factors such as:
Regulation and licensing Price competitiveness (spreads) Software technology (trading platforms) Accessibility (minimum deposit and available funding methods) Range of currency pairs Beginner-friendly and easy-to-use platforms Customer support service.
The heavily regulated environment in the USA due to the CFTC rules and strict requirements has narrowed the brokerage options in the US. However, individual US traders have the option to also trade through offshore brokers that are not subject to the CFTC rules. The number of offshore Forex brokers accepting Americans is also very limited. It also comes with several risks due to the lack of regulation.
Risk Warning: Forex trading and trading on margin come with a high level of risk. Trading high-leveraged products may not be suitable for all investors, as you might lose all your money. Make sure you understand how forex trading works before putting your funds at risk.
About the author: Justin Grossbard.
With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.