Forex Brokers in USA

USA as a world-known and important country in the worldwide economy together with its powerful financial systems holds a strong position in the Forex industry as well, yet applied some of the strictest demands to their operations.

Who are USA Forex Brokers?

While trading and particularly currency trading is a popular activity among US clients there are also numerous USA regulations and laws that implement rules which seem to be complicated and limiting trading possibilities.

However, there is a great number of USA Forex Brokers that in fact bringing a reliable and very competitive trading environment. US traders are typically restricted to trade with other brokers that are based or located elsewhere rather than in the US, giving the option to trade either with US regulated brokers or run to offshore firms.

US Forex Brokers regulations

Of course, we advise staying away from offshore brokers since they are highly risky to invest as scam brokers usually targeting clients typically from offshore locations.

As for the USA regulation itself, the trading and Forex industry is overseen by the two main authorities while all US Brokers must be registered with the NFA (National Futures Association) or CFTC (Commodity Futures Trading Commission). NFA website: www.nfa.futures.org and CFTC Website: www.cftc.gov

Those supervising authorities regulate financial service providers or trading Brokers which ensures market integrity, with responsibilities to provide transparency and the highest level of clientโ€™s protection. In addition, before any broker can operate in the UK it must obtain RFED (Retail Foreign Exchange Dealer) registration and then to be regulated further overseen by both authorities. Read more about US regulation through Wikipedia, also follow the Twitter account for prompt updates and changes @CFTC.

In fact, the CFTC is among the most progressive authorities in terms of publicly that informs the citizens about taken actions and market researches, while the main mission of the organization โ€“ to find fraud companies.

  • Some of the governmental restrictions including laws regarding the jurisdictions which have the right to open an account, while most of the platforms are anti-hedging systems, as well as trade with limited leverage that not exceeding 1:50.
  • Moreover, the majority of Non-USA Brokers or those that are not registered with local authorities are not able to offer their services to US residents.

US CFTC website

Best Forex Brokers US

The list below is consistent with the Best Reviewed Brokers based in the US, also created according to the specified criteria and its Trust Scores. CFD trading brokers are typically shortened in the US, since the regulations limiting trading of CFDs, yet in the list you will find shortened criteria with a reliable ranking.

  • IGโ€“ Best Overall Broker in US 2020
  • Interactive Brokersโ€“ Lowest Spread Broker in US 2020
  • Forex.comโ€“ Best MT4 Broker in US 2020
  • OANDAโ€“ Best Broker for Beginners in US 2020
  • eToro โ€“ Best for Social Trading 2020
Broker Detail
forex.com review Forex.com
Min. Deposit: 50US$
Max. Leverage: 1:40
Trading Platforms: MT4, MT5, FOREX.com Platforms
Regulation: FCA, IIROC, ASIC, CFTC
1
Forex.com Review
OANDA review OANDA
Min. Deposit: no minimum deposit
Max. Leverage: 50:1
Trading Platforms: Oanda trade, MT4
Regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC
2
OANDA Review
Interactive Brokers (IB) Review Interactive Brokers
Min. Deposit: 2000 US$
Max. Leverage: 1:40
Trading Platforms: TWS, IB WebTrader
Regulation: US SEC & CFTC, ASIC, FCA
3
Interactive Brokers Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader
Regulation: ESMA, CySEC, FSC, NFA, FSA
BDSwiss Review
City Index Broker review City Index
Min. Deposit: 100 GBP
Max. Leverage: 1:30
Trading Platforms: Advantage Web, AT Pro, MT4
Regulation: FCA
City Index Review
etoro_review eToro
Min. Deposit: US$200
Max. Leverage: 1:30
Trading Platforms: eToro Platform
Regulation: CySEC,FCA, ASIC
eToro Review
Sucden Financial logo Sucden Financial
Min. Deposit: 0 US$
Max. Leverage: 1:30
Trading Platforms: API Solutions, STAR, TT, CQG, Patsystems, smartTrade, Integral, Currenex
Regulation: FCA, NFA, SFC
Sucden Financial Review
Nadex_logo Nadex
Min. Deposit: 250 US$
Max. Leverage: 1:40
Trading Platforms: Nadex Platfrom, NadexGO
Regulation: CFTC
Nadex Review
IG Markets review IG
Min. Deposit: GBP 250
Max. Leverage: 1:30
Trading Platforms: MT4, IG Proprietary
Regulation: FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC
IG Review
Advanced Markets Review Advanced Markets
Min. Deposit: 2,500 US$
Max. Leverage: 1:100
Trading Platforms: MT4, DMAhub, Fortex 5 & 6
Regulation: ASIC
Advanced Markets Review