The US has one of the largest forex trading populations in the world and also some of the largest forex brokers USA trading platforms. For this reason and more, the average trader has open access to more platforms than their counterparts in other parts of the world. So if you are based in the US, you will be spoilt for choice as to the best brokers to open an account with.
However, not every broker is reliable or offers the best service that will serve your purpose. That is why it is in your best interest to be very careful when making your selection among the long list of forex brokers USA.
In This Guide
FCA, ASIC, CIMA, SIBL
up to 50% bonus
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
VFSC, FSC, IBFC
$10 000 demo
To help you out, we have reviewed some of the best ones on the platform. So please do have a look.
In terms of the platform that we rate as the best overall, that status goes to Forex.com. This platform is a subsidiary of a publicly-traded company called StoneX and is one of the best brokers in the US. Forex.com is regulated by the National Financial Agency and the CFTC. In total, it has submitted to the regulations of 6 major jurisdictions worldwide, making it one of the most regulated but also secure platforms in the world.
Their platform has excellent tools, and as far as educational materials go, it has one of the largest online training libraries in the world loaded with webinars, video tutorials, articles, and any other kind of training material you can think of that users can leverage to improve their skills. All it takes to open an account is $50, and you pay zero commission to make withdrawals.
Another forex broker USA that is not very popular outside the US is CedarFX. This broker is known for offering traders some of the best ultra-low spreads in the business. Their pricing schedules and trading technology are also one of the best, even better than more popular platforms. With high liquidity and low volatility market conditions, traders who use CedarFX are able to grow their accounts by placing winning trades.
Currently, CedarFX offers traders two types of trading accounts. The first is the zero commission account (Which attracts no commissions) and the eco account (which attracts commissions). You can trade up to 170 different assets using the available platforms, and one of them is MetaTrader 4. The minimum account opening amount is $250, and they have up to 87 different currency pairs.
Another excellent platform that has gained national acceptance among US traders is IG Markets. This broker operates a platform that is arguably the best for trader execution. Going long or short on IG Markets is very easy, and we find it to be one of the most secured platforms ever. Despite having their own unique platform, they also offer third-party platforms like ProRealTime and MetaTrader4, which broadens the options customers have.
They also give traders access to use APIs to improve their trading experience. IG Markets has about 80 different currency pairs available for trading, and the minimum account opening deposit is $250 minimum.
Fourth on our list of the best forex brokers USA is Interactive Brokers. For years now, this broker has been providing traders access to up to 135 international markets worldwide. The broker is also subjected to massive oversight from US regulators, which is one reason why it is trusted by traders. If you choose to trade with Interactive Brokers, you can rest assured that your funds are in safe hands. Interactive Brokers is also one of the best platforms for advanced brokers with proven years of trading experience.
The platform has advanced tools for trading, and more importantly, they charge zero dollars as commission fees if you buy US-listed ETFs and stocks. Interactive brokers is also active in more than 33 different countries too where they offer their brokerage services. As far as their trading platform goes, US traders and traders in most parts of the world where forex trading is legal can use it. This broker offers forex traders up to 47 different currency pairs, and the minimum account opening is $50.
Are you a beginner with limited experience trading forex? Do you want a platform with user-friendly tools? If the answers to these questions are yes, then eToro is your best bet. This platform is one of the best platforms in the US for beginners, and they have one of the most effective copy trading tools we have seen. They also provide beginners with insight from some of the most experienced traders on the list so you can follow their trades as you develop your skills.
eToro also has excellent educational materials that you can use to leverage your skills. Their multi-asset trading is also quite commendable. Also, their social trading platform is one of the best online today. There are more than 2000 tradable assets you can trade on, and the minimum account opening deposit is $50.
Brokers regulated by the US authorities are some of the safest and trusted brokerage platforms online. All the forex brokers USA reviewed in this article are safe and offer the best trading tools to help you place winning trades online. Before forex brokers can accept US based cleints, they must become liecenced by the Retail Foreign Exchange Dealer (RFED) financial regulatory body. Brokers should also be regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM). We recommend the US traders to follow the CFTC twitter page, @CFTC to stay updated. Also check out the National Futures Association webpage on Wikipedia.
No, their platforms are not only offered to US citizens. Despite operating from the US, many of these brokers offer brokerage services to clients and traders in many other countries across multiple continents.
Not at all. You can access most of these platforms from any other part of the world as long as two conditions are in place. Firstly, you need access to the internet. Secondly, forex trading must be legal in your country.
The minimum deposit varies from broker to broker. Some brokers will accept deposits of $50, while others will only accept $100 or $200 or more.
It takes less than five minutes to open a trading account with many forex brokers USA. However, do note that the verification process may take some more time since it is done in stages.
Yes, they do. All brokers have one form of educational materials or the other to help you improve your trading skills. Brokers like eToro and Forex.com have rich training portfolios