This group could perhaps consider the zero spread account to lower these costs. Here, we need to consider the minimum deposit and the platforms being provided. Beginners will want to choose providers with a low or no minimum deposit, to which OANDA excels.
Interactive Brokers’ fees appear to be competitive overall, however, the company does not publish its average spread for forex which makes it difficult to pinpoint exactly. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
Look for US Regulation
Forex futures allow traders to speculate on the future price of currency pairs through contracts without physically exchanging currencies. These contracts entail an obligation to buy or sell at a predetermined price and date. We recommend Interactive brokers – IB for short – particularly for professional traders based on their powerful trading tools and extensive range of order types – more than any other broker we reviewed.
- That means narrower spreads, with the typical bid-offer spread in EURUSD coming in at 0.00 pips and at 0.1 pips on AUDUSD.
- Forex.com provides access to over 80 forex pairs with spreads from 1 pips.
- Although the full IG Academy isn’t directly available on tastyfx, U.S. traders can still access it via IG’s global site.
- As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
- These factors are attracting US forex traders at all levels to the market and increasing the demand for online trading platforms.
Minimum Deposit
You can access these markets through multiple brokers like OANDA, Forex.com, and Interactive Brokers. MetaTrader 4 (MT4) provides a simple user interface that focuses on charting, making it a natural choice for traders in search of straightforward analysis. The platform has 30+ technical indicators (like Bollinger Bands and RSI) and 20+ drawing tools. EToro is a CFD forex broker, however in the US (for regulatory reasons) it doesn’t offer any forex asset, but it does offer cryptocurrencies to trade. Interactive Brokers (IBKR), headquartered in Greenwich, Connecticut, is one of the most trusted names in online trading.
If you are unsure which platform to choose, I’ve developed this tool below – it will help you find the platform you need based on your specific trading style. I find this is the simplest way to invest and potentially grow your money, as it is fully managed once you make the initial investment. EToro provides a full fact sheet of the SmartPortfolio, with performance and asset allocation data, so you can gauge if it’s worth your investment. You can get trading signal alerts from Analyzer and Trading Central, giving you more intraday trade ideas to work with. For example, you might open a binary option on a specific forex pair, predicting that the market price will increase in the next thirty minutes.
— The Top Broker For RAW Pricing
The US does have a few regulated Forex brokers, and they are subject to the most stringent regulatory conditions anywhere in the world. Because Interactive Brokers sources its pricing from over 17 FX dealers, account holders have access to spreads as tight as 0.1 pips on major currency pairs. You will, however, pay a commission on every trade, though the amount will vary based on the size of your trade. This can make managing your costs difficult, and we would’ve liked an in-built calculator or similar tool. On the other hand, the low trading costs – even with commissions – more than tip the scale. In this article, we will introduce a range of Forex brokers that accept U.S. traders.
But it also has additional features, like more technical indicators and a native economic calendar. The Commodities Futures Trading Commission (CFTC) is the federal agency that oversees the US derivatives market. It ensures market integrity, protects participants, and sets rules and regulations for CFTC-regulated Brokers.
- The firms will take a percentage of the gains, and the trader will keep the rest, depending on the details of their agreement.
- We have listed the Best Brokers that accept traders in the United States.
- These three countries account for 50% of the world’s total forex trading volume.
- For example, the broker may allow you to open positions on ETFs, mutual funds, stocks, cryptocurrencies, and more.
- The company does, however, lack a full-featured research offering for forex.
Best Forex Brokers in USA
The following list includes several of the best forex brokers for U.S. clients. The majority of forex brokers will offer (MT4 MetaTrader 4) as a trading platform alongside their own in-house developed platform or other third-party trading platforms. Forex trading is speculating on the price of two different currencies relative to each other. The foreign exchange market is the most heavily traded asset class in the world. Anyone can trade forex through a forex broker and forex trading falls into two categories, high-risk short-term speculation and physical currency exchange. Forex.com are owned by NASDAQ-listed broker StoneX and are one of the few US forex brokers to be legally allowed to offer retail traders access to the forex markets.
Like MT4, you can create bespoke indicators using the platform’s own coding language – the only difference with MT5 is that you’re using MQL5, not MQL4. One big advantage I found with these options is that you’re only risking the amount of money you paid to open the position. Your potential winnings are basically unlimited, but your maximum loss is capped. Customer service is available 24/7, which is more coverage than most brokers offer. Interactive Brokers applies a minimum trading commission of $2.00, so you’ll pay this even if you are trading in micro lots. While this commission is very good on full-lot positions, you might find it a little expensive on these smaller lot sizes.
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
A trusted global brand, OANDA is one of the few forex brokers that can accept U.S. residents. It stands out for its reputation and quality market research (OANDA was Best in Class for Research in the ForexBrokers.com 2025 Annual Awards). Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
All the brokers you see above are regulated by the top independent regulatory bodies, proving they are trustworthy brokers. If you can’t find any information about licenses, it’s a high chance you’re dealing with a forex scam. If you’re a professional scalper in the US, Forex.com offers an Active Trader Program which can get you cash rebates up to 15% of the volume. Below is our curated list and review of the best forex brokers for traders living in the United States, with details and information about the country laws, the features, and the characteristics. All in all, TD Ameritrade is one of the best forex brokers in USA for professional trading services. With branches in almost all 50 American states, TD Ameritrade provides US clients the peace of mind for recognition, reputation, and security.
Supporting national companies
Because regulators in the United States have specific capital requirements for forex brokers. Yes, forex trading is legal in the USA so long as the broker is a legitimate forex broker regulated by the Commodity Futures Trading Commission (CFTC). Essentially, the latest iteration encapsulates the core strengths of MetaTrader 4 and introduces a set of novel features, positioning it as the dream platform for automated trading. The MT5 setup empowers traders like us to craft, evaluate, and deploy our customised trading bots or procure them from an active marketplace.
FOREX.com also offers a wide variety of analysis tools, with their platforms supporting over 90 technical indicators, as well as news from a variety of channels. With a minimum account requirement of $100 Plus500 caters to traders with varying capital levels. Furthermore it supports various payment best us forex brokers methods, like PayPal, Skrill, and major credit cards for deposits and withdrawals.
Together, these factors help you determine if a broker is safe, cost-effective, and aligned with your trading needs. We’ve outlined every step of our evaluation in detail on our Methodology Page. Our process is transparent, data-driven, and built on years of expertise, combined with real trader insights, ensuring you can trust our recommendations. Some of the best brokers for MetaTrader 4 USA include OANDA and Forex.com. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. All content on StockBrokers.com is fact-checked by our research team, and edited and published by an editor.