6 of the Best Forex Brokers in the USA

TIM THOMAs

Learn how to profit from short swings in price across stocks, FX and more.

The United States is a popular trading hub for forex. But, how do you settle on a good forex broker in the world’s largest economy? The purpose of this story is to assist US traders in locating the best forex broker to fit their trading style.

It is important to point out that though forex trading in the US is not illegal, CFD trading is not permitted. The terms of a contract for difference (CFDs) state that buyers and sellers agree to pay the difference between the current value of a security and its price at the time the contract is entered into.

US Licences and Regulations

All forex brokers servicing US clients, financial institutions, and financial markets are regulated and supervised by a number of agencies like NFTC and NFA. Regulatory authorities have their own responsibilities and strict rules that allow them to operate independently, including a restriction on leverage offered.

Leading US Forex Brokers

Any forex broker who services US clients falls under the regulatory purview of either the NFA or CFTC. Only a select lot accepts clients from the US and when comparing brokers, check from a list that offers services to US nationals.

Potential clients should look for brokers who offer services like spot trading in forex. There are brokers who extend leverage that can go up to 1:50 and these give the power and flexibility to trade freely.

IG.com

The IG group has been playing a pivotal role and a global leader in the financial services industry since 1974. The North American arm of the group, IG US, has been a player in the financial trading arena since 2007. In 2019, they expanded their footprint into the forex space offering trading in 80 pairs.

Forex.com

The competitive spreads that FOREX.com offers can be best understood by reviewing their trading proposition. US clients can trade in over 80 currency pairs and these include major, minor and exotic ones as well. Trading can be done on both the proprietary Web trader platform and the widely used MetaTrader 4 and the more advanced MetaTrader 5 also.

Oanda

Oanda has a quarter of a century’s experience in the forex brokerage business and is an established name now that operates under the regulation of the CFTC and the NFA. The edge that this brand brings to the industry is its focus on customer service which has earned it the reputation of being the best in customer support. 

Swipe up to read the whole post and discover other forex brokers

Other Posts You Might Like

13 Best Forex Books For Traders

Swing Trading for Beginners (Updated for 2022)