Lowest Spread Forex Broker In USA.
The lowest spread US forex brokers allow spot trading forex pairs like USD/EUR with low trading costs using good forex trading platforms. See which FX brokers have the best trading conditions.
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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Low Spread US Forex Brokers.
The US forex brokers with the lowest spreads is:
Oanda - Best Low Spread US Forex Broker IG - Has Top Range Of Trading Platforms Forex.com - Good Metatrader 4 Broker TD Ameritrade - Has The Best Range Of Products eToro - Has Great Social Crypto Trading Trading.com - Best Forex Broker With Metatrader 5 Nadex - Is The Forex Broker For Forex Options.
TD AmeriTrade.
Our Rating.
Forex specialist in USA.
Choice of trading platforms.
Guaranteed stop loss orders.
ThinkOrSwim Trading Platform.
Social trading CFD 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.
1903 (Spot) 221 ETFs.
Retail Max. Leverage (USA)
Major Pairs 50:1 Minor Pairs 33:1.
Spot 50:1 Futures 6.25:1.
Major Pairs 50:1 Minor Pairs 20:1.
*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 > 7.28 NFA, CFTC FCA, IIROC - - - 160ms $100 55+ (Spot) - 50:1 50:1 Visit Broker > 8.23 NFA, CFTC FCA, ASIC - - - 130ms $450 80+ (Spot) - 50:1 50:1 Visit Broker > 6.21 NFA, CFTC IIROC - - - 110ms $2000 70+ (Spot) - 50:1 50:1 Visit Broker > 7.17 ASIC, FCA CYSEC - - - 120ms $10 - 24 (Spot)
Americans looking to trade spot forex in the most favourable environment with the most powerful tools? In this roundup, we review the top low-spread US forex brokers.
Why focus on low spreads? For many traders, spreads more than fees determine whether it makes economic sense to trade. Understanding the different combinations of tight spreads, commission-based accounts, and commission-free market maker accounts can help US traders select the broker best aligned with their trading needs and budget.
All forex brokers in this list are regulated by the NFA and/or CFTC meaning they are properly authorized to provide financial trading services in the US.
OANDA Is the Best Low Spread US Forex Broker.
OANDA may be the platform for you if you’re searching for extra savings amongst the lowest spread US forex brokers. In addition to low forex fees on long positions, traders opting for a Spread Only Pricing account pay no commission on round-turn trades per 100K lot.
Key Strengths:
Large range of forex pairs for trade Low spreads and discounts for active traders Quick account opening and easy funding process Choice of trading platforms including MetaTrader 4.
Trading Accounts and Products.
While OANDA’s two account types for US traders both make use of a dealing desk, the unique no-commission fee structure (with discounts for Active Traders) trading execution can lead to significant savings for savvy traders regardless of the account type chosen.
Spread Only Pricing accounts charge no commission on round-turn trades. Instead, OANDA assesses a spread fee to cover the cost of executing a trade. However, note that the spread for these accounts varies, starting at .6 pips.
Core Pricing accoun t holders will pay a $10 commission on round-turn trades per 100K lot but benefit from a tighter minimum spread of 0.1 pips. Neither trading account type with OANDA requires a minimum deposit to open an account; however, you will be charged a monthly fee of up to ten units of your account currency for periods of inactivity longer than twelve months. On the other hand, OANDA stands out from other low-spread US forex brokers for its customer service. In addition, account holders benefit from 24/7 support in multiple languages.
OANDA limits American traders to only forex products but offers an impressive variety: up to 68 currency pairs, with spreads as tight as 0.0 pips for Core Pricing Account Holders. Major currency pairs include GBP, EUR, USD, AUD, JPY, NZD and CHF.
OANDA may also prove attractive to volume traders for its rebate structure. For example, traders with a minimum balance of $10,000 and a monthly trade volume of more than $10 million can choose between a per-million cash rebate or commission reduction.
OANDA Minimum Deposit.
OANDA requires no minimum deposit to open an account and begin live trading, regardless of the account funding method. Processing times may vary, however, and deposits made by debit card or ACH transfer are capped at US$20 thousand and US$50 thousand, respectively.
Trading Platforms.
OANDA account holders are spoiled for choice when it comes to trading platforms. In addition to the award-winning web, desktop and mobile options powered by TradingView, OANDA the MetaTrader 4 trading platform along with MetaTrader 4 Premium via a proprietary plugin.
Regardless of your preferred platform, OANDA offers all the tools a beginning or advanced trader might want, including personalised charts, performance analytics and layouts. Traders opting for the desktop platform will also gain access to detailed assessments of strategic strengths and weaknesses based on behavioural patterns.
Our Verdict on OANDA.
OANDA’s extensive selection of trading instruments, powerful analytical tools and tight spreads make it the perfect choice for experienced and beginner US forex traders alike.
Our Rating.
The overall rating is based on review by our experts.