Forex Brokers in USA
The 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.
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.
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.
Of course, we advise to stay 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 client’s protection.
In addition, before any broker can operate in the US 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.
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.
- IG– Best Overall Broker in US 2020
- Interactive Brokers– Lowest Spread Broker in US 2020
- Forex.com– Best MT4 Broker in US 2020
- OANDA– Best Broker for Beginners in US 2020
- eToro – Best for Social Trading 2020
USA Forex Brokers List
These are the regulated brokers that accept clients from the US:
Min. Deposit: 0 US$
Max. Leverage: 1:500
Trading Platforms: Mt4, MT5, TWS