Looking for Forex Brokers USA? Not sure which USA broker is suitable and best for you? Or want to verify if the broker is truly regulated and legit in the US by CFTC or NFA?
We provide answers to all the questions in this article. We researched and compared over 30 USA brokers including their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.
US Regulated Forex Brokers
Forex Brokers in the USA must be fully registered and obtain RFED (Retail Foreign Exchange Dealer) registration and then to pass standards and controls set by NFA (National Futures Association) and or CFTC (Commodity Futures Trading Commission), before broker accepting US forex traders.
CFTC is a federal regulatory agency and is top-tier authority considered among sharpest and strictest authorities worldwide CFTC has to authorize every Forex broker operating in the US. Read about US regulation on Wikipedia.
Best Forex brokers in USA
To select the best Forex Broker in USA we research and compare Forex Brokers with CFTC or NFA regulation and license, also review details of spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top Forex Brokers Review in US:
- Interactive Brokers – Lowest Spread Broker USA
- OANDA – Top ranked Broker in US 2020
- IG – Best Broker for Beginners USA
- eToro – Best Social Trading Platform USA (Crypto Only)
- Nadex – Best Binary Options Broker in US (US Regulated)
What makes a good forex broker in USA?
You should check 4 points that makes broker a good Forex Broker, these includes license and good reputation, favorable trading conditions, education and research, and customer service.
- Must be licensed by the USA regulatory authority CFTC or NFA
- Offer good trading conditions with low spreads, wide range of trading instruments and platforms
- Provide with quality education content like Webinars, trading videos and research
- Run professional Customer Support easy to reach and communicate
Top US Forex brokers List & Review
A list of Best Online Forex Brokers for US clients ranked by us that are based and US regulated brokers:
|Forex Broker||US Regulated||Why they are our top picks||Our Review|
|IG||Yes||IG is great for all size and experience level traders. IG stands on strong background is publically traded (while most brokers are just brokers) and offer comprehensive trading conditions with great education, trading platforms and low costs.||Visit IG site |
|OANDA||Yes||OANDA might be the best for beginners, it has a easy to use and powerful desktop trading platform, great education materials and research, plus wide range of instruments with good costs||Visit OANDA site|
|Interactive Brokers||Yes||InteractiveBrokers should be the best for bigger size traders, futures traders and active traders. IB has great proprietary software with powerful tools and technical analysis, available instruments and assets might be the best worldwide plus to low costs||Visit InteractiveBrokers site |
Interactive Brokers Review
|eToro||Yes*||eToro is considered the best for copy trading platform, *in the US eToro offering only Crypto trading. eToro Crypto wallet has all the benefits of Crypto Wallets plus numerous Cryptocurrencies available for trade, all provided with good spreads and easy to use platform||Visit eToro site|
|TD Ameritrade||Yes||TD Ameritrade is an option to select if you wish to trade or invest in Stocks. TD Ameritrade is among largest online brokers for Stocks with competitive costs and is suitable for beginners, plus has great mobile platform.||Visit TD Ameritrade site |
TD Ameritrade Review
|Forex.com||Yes||Forex.com should be good for traders who with to use MetaTrader platform. Forex.com has both MT4 and MT5 with extra tools like VPS and analysis, also Forex.com is a part of a large financial holding with a good standing.||Visit Forex.com site |
|Fidelity||Yes||Fidelity might be suitable for Investors in Stocks. They have excellent execution, and high-quality wealth research with pre-set screeners and with impressively low fees.||Visit Fidelity site|
More on US Brokers
If you don’t know from where to start here we answer many common questions, also navigate categories and select broker that offer your trading need.
US ECN Forex Brokers
ECN Forex Brokers in US offering ECN trading environment based on bridging technology that matches your trades automatically to the markets. For US residents ECN trading environment is no available by Interactive Brokers.
Offshore Forex Brokers accepting US clients
Most of offshore Forex brokers targeting US clients, but it is illegal to trade with offshore companies that are not regulated by the US CFTC. However, we found some offshore brokers mentioning they are accepting US clients like FXChoice, CryptoRocket, etc. But due to lack of regulations and low transparency we do not recommend signing with any offshore firm.
Forex Brokers for Beginners (US Regulated)
Beginners should start with good research about trading itself and check regulated US brokers, read Broker Reviews. Avoid too good to be true offerings and stick to reputable broker with quality education, research, we recommend IG offering for beginners.
US MT4 Forex Brokers
MetaTrader4 is still among most popular trading platforms offered by many brokers in US and worldwide including Forex.com To select brokers offering MT4 platform follow the category Best MT4 Brokers or check Forex.com
US Forex Binary Options Brokers
Binary Options are banned due to highest risks by most of world authorities and typically offered only by offshore and unregulated brokers. At the moment there is only one regulated Forex Binary Option Broker in the US – Nadex.
US High Leverage Forex Brokers
High leverage ratios like 1:200, 1:500 or even higher are not available for US traders, US regulations set maximum of 1:40 for Forex instruments. Higher ratios considered very risky and offered now only by offshore brokers.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.