We evaluate and track dozens international regulatory agencies; click here to learn more about Trust Score. Check out our guide to trading forex for beginners here. The next step will be deciding on your trading budget. This is especially important given the risks involved in trading forex from a margin account. Forex brokers typically offer a range of contract sizes so you can fine-tune the size of your trade — which will determine how much risk you are taking for a given profit target.

In this case, your potential risk will be limited — but so will your potential rewards. For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices. IG is the only broker that is regulated in both Switzerland and the U. expand What does it mean to be the biggest forex broker? What can be considered the largest forex broker may vary depending on the time period used to measure size. Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies.

Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :. CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app.

Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders. The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year. If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here.

What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms.

Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker. Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency.

To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals.

Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Not sure how to go about choosing a forex broker? Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features.

Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips. To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking.

Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score.

We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than.

For a full explanation and accounting of our research and testing process, please click here to learn more about how we test. There is a very high degree of risk involved in trading securities.

With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. S Forex market. These saviors are the Commodity Futures Trading Commission CFTC and the National Futures Association NFA.

Think of the CFTC as the boss of the Forex market. In order to operate in the US, forex brokers must first register with the CFTC. Not only do forex brokers based in the U. S have to do this, but a non-US based forex broker can register with the CFTC, too, if they want to serve US clients. Any brokers in defiance of these regulations will be met with direct actions to prevent any damage, or further damage to customers, including through heavy fines and sanctions.

The NFA is an arm of the CFTC that provides regulatory programs to safeguard the integrity of the Forex market, and it is with the NFA that US Forex brokers must register with. The NFA works to regulate individuals and companies who part-take in the U. S financial industry by maintaining fair and ethical business practices. Both agencies work in conjunction to manage the behavior of member firms in accordance with their regulations. The NFA and CFTC will also act as judge and jury over any consumer disputes that arise.

Forex brokers registered with the NFA must adhere to some restrictions, while also meeting a number of requirements. Here are the most important ones. The Capital requirement for US brokers is one of the biggest differences between the US and anywhere else. Since Cyprus entered the European Union it has been an appealing option for forex brokers, allowing them to trade under regulation that is less strict than most other EU countries, not to mention the US.

When compared to other jurisdictions, there are not many US Forex brokers with high leverage. Traders often look for brokers that offer customers a high leverage because it can potentially increase their winnings. However, higher leverage can also result in a higher loss. For this reason, brokers in the US, similar to brokers in the UK, are restricted by a maximum leverage. In the US, Forex brokers are restricted to a tight leverage of on most major currencies. In comparison, brokers in Australia do not have such a restriction on leverage.

When trading Forex, traders can utilize some strategies to potentially gain more effective results. Hedging is one of these, and it helps minimize the potential losses incurred. Well, irrespective of the protection that hedging can offer, traders in the US cannot hedge forex trades as regulators believe that it can be a disadvantage for traders due to its high fees and trading costs.

As discussed, forex brokers must be registered with the CFTC and regulated by the NFA. Once registered, brokers will have a unique registration number. Traders considering registering with the broker can check out whether the broker is regulated here, first. Last but not least, the NFA regulates the security of traders funds by ensuring traders do not lose their money. It does this in several ways. Primarily, the NFA monitors and ensures that all registered brokers keep its own funds in a segregated account , separate to the accounts the broker operates.

Before signing up with a forex broker you should verify status, ownership, and its location. Sites often boast low brokerage fees and high leverage which involves increased risk. However, most sites are operated from outside of the US and may not be registered with the responsible authority in the host country.

In many cases, even those with local approval may not be registered with the concerned US authority. Different countries are monitored by separate authorities that put in place their rules and regulations on leverage offered, deposits required, reporting requirements and investor protection vary depending on where the broker is based. Regulated forex brokers in the US offer a variety of account types to suit different kinds of traders.

Depending on the account you choose, a different initial trading capital requirement will apply. The biggest difference, brokers based in the US must adhere to stricter regulation set out by the CFTC. We briefly mentioned this earlier but to reiterate, the short answer is no.

Under law, non-US based brokers that are not registered with the NFA cannot accept clients based in the US. Payment options offered by US Forex brokers include, credit card Visa, Mastercard, Union Pay etc , online payment processors QIWI, Neteller, Perfect Money etc bank wires and check payments. Although Forex brokers in the past have conducted some shady activity, The Dodd-Frank Act was introduced in to combat this.

In short, this act ensures that you will not be involved in a scam with a US based Forex broker. Any fraudulent activity conducted by a broker will result in the immediate revoking of its license, and a high fine. Before you begin your trading journey, you can get a head start by setting up a demo account with highly regulated US Forex brokers. This allows you to trade with virtual money without any risks and gives you a sense of the current trading environment.

The best part about trading with a US forex broker that is regulated by the CFTC and the NFA is that they are considered safe and reliable.

This registration ensures customers that the broker has a good record of operations over the years. Not only this, but it also means that should the broker declare bankruptcy, you will be entitled to some compensation. Lastly, registered brokers will protect you from fraudulent activity.

Forex Brokers. By Tim Fries. Tim Fries. Reviewed by Shane Neagle. Shane Neagle. Leading US Forex Brokers. The following list presents the advantages of the best Forex brokers for US clients: FOREX. com Best Overall IG US Best Investment Selection Interactive Brokers Best App TD Ameritrade Best for Education Nadex Best Exchange.

com offers traded a well-rounded offering including an excellent desktop functionality. Pros Superb desktop and mobile functionality Advanced charting capabilities Multi-channel avenues for research and trading ideas; traders in the US can avail of Bitcoin Futures MT5 account available.

Cons No negative balance protection. Visit FOREX. com on FOREX. IG offers a wide selection of forex pairs and comprehensive research tools. Pros Advanced web trading platform Comprehensive educational material Impressive research tools Competitive rates Over 80 currency pairs offered to U. Best App: Interactive Brokers Interactive Brokers should be a strong consideration for professional traders. Pros Highly regulated Substantial range of global markets and asset classes Low fees including discounts for high-volume traders.

Cons Complex desktop platform may be unsuitable for beginners A lack of forex charts on web platform Minimum activity charges per month. Pros Wide selection of excellent research and trading tools Impressive desktop charting Low trading fees. Overall, Interactive Brokers has a reputable reputation and offers traders user-friendly trading conditions. Interactive Brokers offers quality education material and research tools, Contracts for Difference CFDs , and trading facilities on shares, forex, commodities, cryptocurrencies , ETFs, options, and indices to a global market.

Rated 41 of Recommended FX Brokers. FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK. Overall, Oanda can be summarised as a credible broker. Oanda is fully regulated thus making it a safe and trustworthy broker. OANDA is considered low-risk with a trust score of 91 out of TD Ameritrade. IG is regulated by two tier-1 regulators highest trust and it has a trust score of 96 out of Rated 38 of Recommended FX Brokers.

IG Group. Now it is your turn to participate:. Which US broker from this list do you intend to test out? What was the determining factor in your decision to engage with a certain broker?

Regardless, please share your thoughts in the comments below. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital. JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP Markets is considered a low-risk and can be summarized as trustworthy and reliable.

JP Markets is regulated by the top-tier Financial Services Board, Based. Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds.

IW Bank clients may experience different fee structures according. com does not offer a sign-up bonus for first-time sign-ups or beginner traders. No sign-up bonus, deposit bonus, or welcome bonus is offered to traders. The Minimum Deposit for 1st-time traders might vary based on. com offers Spreads and commissions vary according to the account type that the trader is using. RSS Feed. Top 4 Brokers. Read Review. Open a Free Trading Account.

Tiếng Việt. Czech Republic. Open a FREE Trading Account. New York Stock Exchange. London Stock Exchange. Australian Stock Exchange. Toronto Stock Exchange. Johannesburg Stock Exchange. Bombay Stock Exchange. New Zealand Stock Exchange. Nigerian Stock Exchange. Kenya Stock Exchange. Popular Global Stocks. Forex Brokers. Forex Trading Platforms. Best Forex Brokers Top Forex Brokers Forex No Deposit Bonus Best Trading Apps Forex Trading for Beginners Forex Trading for Intermediate Traders Forex Trading for Professionals Top Successful Forex Traders High Leverage Forex Brokers Volatility 75 Forex Brokers Top Volatile Forex Pairs Biggest Forex Brokers in the World Best Forex Trading Strategies Low Spread Forex Brokers Scam Forex Brokers Unregulated Forex Brokers.

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Tiếng Việt 한국어 Italiano Nederlands Kenya Français العربية Español Deutsch Nynorsk Dansk 简体中文 日本語. Bulgarian Catalan Croatian Czech Republic Philippines Greek Hungary Romania Slovakia Iran Ukrainian Turkey Tamil. Broker of the month. Top 27 Regulated Forex Brokers. Forex No Deposit Bonuses. Best Brokers. Visit Broker. In this in-depth write-up you will learn: Who is the Best Suited Broker for Beginner US Traders?

Pros and Cons of Forex in the USA. US Dollar Accounts and how they work. The CFTC and NFA — a Definition The Commodity Futures Trading Commission CFTC is the independent federal agency tasked with the regulatory authority of the derivatives markets, including futures contracts, options, and swaps, in the United States.

Select from the best of these brokers like OANDA, Forex. com Gain Capital , TD Ameritrade, Interactive Brokers, and ATC brokers. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 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. 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. 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. He also owns the website Young and the Invested providing investing advice for young individuals. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Choosing a forex broker requires a reasonable amount of thought. Considerations to keep in mind are trading costs, platforms and products such as Forex, shares, indices and commodities.

CFD products are not available is not available for US traders, instead brokers facilities spot trading meaning you buy and sell the underlying instrument. Having CFTC or NFA regulation means the broker can legally offer financial trading services to american 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:. 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. 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. 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. With over 45 years of experience in the foreign exchange market and over , 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.

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 : for major currency pairs, and for minor pairs. Due to state-level regulatory restrictions, IG US is not available to residents of Arizona or Ohio. At IG, US clients can enjoy competitive spreads across over 70 currency pairs including:.

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.

com takes first place as the lowest of the low-spread US forex brokers thanks to spreads as tight as 0. 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.

View 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.

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. The Commission and STP Pro Account types boast impressively tight spreads suitable for system traders: 0. As a retail trader, the commission account is likely to be the account you will be using. 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. 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.

com account holders have access to an impressive array of trading platforms. 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. 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 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 , orders on a daily basis. 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.

At TD Ameritrade, US traders have direct market access to a wide variety of financial instruments, including:. 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:.

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.

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.

This brokerage offers a solid selection of assets to trade, as well as comprehensive analysis, research and charting tools. 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. 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. In addition to over currency pairs, Interactive Brokers provides the opportunity to trade options, bonds, stocks, futures, commodities, mutual funds and crypto. 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. 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.

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. 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, for binary options, for call spreads and for knockouts. 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.

Only payment methods backed by real cash, such as debit cards, checks, wire transfers and ACH transfers will do. 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. 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.

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.

Home » Brokers » 8 Best Forex Trading Platform in US Nevertheless, the forex trading department at XTB is highly extensive, with dozens of pairs to choose from. Rated 41 of Recommended FX Brokers. TD AmeriTrade Review. MT4 Brokers MT5 Brokers cTrader Brokers Zulu Trade Brokers Futures Trading Platforms Social Trading Platforms Binary Trading Platforms Best Forex Robot Traders. A forex broker is a company that is licensed or considered exempt by a national regulator to grant you — as a retail or professional client — the ability to buy or sell foreign currencies, by way of an online trading platform or over the phone known in the industry as voice broking.

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