The Best US Forex Broker

The fast-paced activity in the foreign exchange market makes it the most prominent market worldwide. In this volatile market, fortunes are built in a couple of minutes. More than five trillion dollars change hands between traders and brokers every day on the forex market. 

Being a big market, government agencies in America ensure that trading forex is regulated for transparency. As such, traders need to find the best US forex brokers with regulations from the NFA and CFTC.

List of the 5 Best Forex Broker in USA is one of the best forex brokers in the USA, established in 1999. Today, the company boasts of more than 200,000 registered traders. The brokerage firm is a subsidiary of GAIN Capital Holdings. This company is licensed in several jurisdictions like the UK, US, and Canada. 

Trading forex in the US is safe thanks to the FCA regulatory oversight, which helps clients recover up to £50,000 via their remuneration policy. This may happen for a variety of circumstances, including if goes bankrupt.

The US-based is one of the most well-known retail forex & CFD providers on the internet. They provide access to more than 180 worldwide markets, like FX, equities, indexes, coins, and metals.

Users can download’s mobile application on Apple and Android devices. Reviews show that users have been happily pleased by the full operating features, sophisticated charts, and comprehensive trading systems.

You may use integrated Reuters data, established notifications, and browse a financial calendar on

There are 26 markers and 13 sketching instruments in all of the apps. Furthermore, it just requires a couple of minutes to navigate live quotations, graphs, and current prices.

Two free trial accounts are available at These accounts are accessible on both the desktop and mobile versions. is an excellent platform to learn to operate without putting your money in danger. Your demo profile will be supplied with $50,000 in imaginary money.

You may practice investing in your favorite commodities, such as GBP/USD forex pair, after inputting the demo login information. After you register on, you must finance your real account. There is a variety of paying and withdrawing options available for US traders. 

It’s fast and straightforward to finance your real account using any of the methods listed on the company’s website. The minimal deposit is $30. The broker does not allow more than a $10,000 deposit. Staying in touch with’s contact center is cheap and fast. Go to their homepage and use the live messaging feature to communicate with them. 

If you have any additional issues, you should check out their FAQ section. Directions about how to access accounts and handle funds & transactions are provided via the FAQs.

Generally, the customer service is on par with professional standards. Processing times are short, and the personnel is usually competent. If you’re a novice, though, you might want to explore somewhere for hands-on, comprehensive coaching. Particularly now that some brokers provide video chat assistance 24 hours a day, seven days a week.

Other features of include:

  • Users have privy to a vast array of resources.
  • There are computerized trading instruments and strategies available.
  • The brokerage provides a risk-free sample account.
  • offers low margins to assist keep expenses down.
  • It is heavily regulated in an array of investment countries
  • It’s an excellent choice for novices because of the variety of interfaces and rich information.
  • Their custom platform provides great graphing features, thanks to Autochartist.


IG Markets is the US affiliate of UJK broker giant IG Markets. However, unlike its global service, it remains a brokerage firm that has evolved to become one of the top Forex brokers in America.

Using a registered brokerage will reduce the risk of deception and misconduct. Thankfully, the Commodity Futures Trading Commission (CFTC) supervises IG. The company was established in 2019. Today, the forex broker is a participant of the CFTC-created National Futures Association (NFA). IG complies with industry rules in the United States but has been chastised in 2021.

IG Markets offers 87 financial FX assets to clients, which is a large selection. The broker is focused on Forex only so that you can trade CFDs or Indexes. 

Investors may use IG’s ProRealTime. This is the trading platform accessible for dedicated professionals, in addition to the innovative, customized web-based trading system. Generally, IG supports MT4 and has 18 add-ons, as well as Autochartist.

IG also offers automated systems using MT4 & ProRealTime. A copied trading facility is also included with MT4. It is good to note that to get a free subscription to ProRealTime, investors must make at least four transactions each month. Alternatively, they are to pay $40/month for the tool.

At IG, web registration is quick. However, two parts gather unnecessary details that some traders detest. While authorities frequently require them, traders are willing to add them out free from validation. A photocopy of the dealer’s ID is required for new investors. Before paying, they must additionally validate the credit/debit cards or banking information.

IG requires a $250 initial investment. It is more significant than other brokerages, but it is a fair amount.

Bank transfers, ACH, and card payments are the only sources of funding offered by IG Markets. Of course, this is the standard practice among US-based brokers. They continue to be better, allowing traders to segregate their trades and day-to-day operations. Excluding Ohio, IG exclusively allows investors from the United States. 

Users may contact IG customer support via telephone, mail, or webchat. The support service is available 24 hours a day, seven days a week in over ten dialects. 

The following are some of IG Forex’s key features:

  • There is no charge for withdrawals.
  • High-quality training and research materials
  • A diverse range of assets

TD Ameritrade Forex

TD Ameritrade is one of the best forex brokers for US clients. This is primarily attributed to its trading interfaces, provision of high training and research materials. Since 1971, TD Ameritrade has been providing consumers from its Nebraska head office. The firm has over half a century of business expertise.

TD Ameritrade is known for enabling regulated worldwide exposure to investors for about a quarter-century. The firm is governed by the Financial Industry Regulatory Authority (FINRA). Customer accounts are also insured by the FDIC & SIPC (bank deposits maintained with TD Bank). The company has licenses in several countries, including the United States and Hong Kong.

You can install two mobile applications on the TD forex trading platform when you establish a new account. These are TD Ameritrade Mobile and TD Ameritrade Mobile Trader. The first is geared toward newcomers and casual traders. The other app is for really active investors and demands several tools and sophisticated capabilities. App ratings for Apple and Android devices are generally good.

PaperMoney is the custom name for the virtual account from TD Ameritrade. You should not risk serious cash because you’re working with simulated funds. This is an excellent chance to familiarize yourself with the trades and formulate plans. It’s likewise a great way to get a feel of the TD Ameritrade service.

Your name and other fundamental data are required to use the paper trade account. Further details needed include email account, mobile number, and region. It’s simple to terminate your trial account and move to a real brokerage account when your expertise increases.

The significant advantage of this trading platform is that there is no obligation for a minimal upfront payment. This is a fantastic option for novices and individuals with a bit of a start-up budget.

TD Ameritrade enables clients to make instant payments and withdrawals with reasonable simplicity.

Users can opt to deposit funds from their bank accounts to any TD Ameritrade accounts online. Note that bank account details and all necessary verification passwords are all you’ll need. It generally takes between hours to three working days to complete. TD also accepts Paypal deposits and withdrawals.

Money transfer is a widespread way of financing. The platform does not place payment limitations, and the process takes one working day to complete. Nevertheless, you should verify with your bank to see any additional day trading restrictions and wire transfer costs.

The brokerage firm now provides phone, SMS, and Facebook helps 24 hours a day, seven days a week. According to user feedback, the average response time for telephone assistance was not more than five minutes. German, Español, English, and Mandarin are among the dialects available for support. Just go to TD’s webpage to get the 24-hour hotline for your location.

In most cases, messages are replied to in less than 10 hours. Representatives are trained and have a thorough understanding of trading systems and assets.

Key features of the TD Ameritrade are:

  • TD offers a wealth of in-depth analysis and instructional materials.
  • Foreign traders benefit from the market’s expanded trading session, which is available 24 hours a day, seven days a week.
  • They make it easier to synchronize your web and mobile operating systems.
  • Approximately 350 analytical research, 20 illustration toolkits, and 8 Fib tools are available.
  • With zero account requirement, you receive unlimited access to the sophisticated thinkorswim interface.


Based in the United States, Oanda has grown into a significant participant in the worldwide online brokerage market during the previous two decades. Clients may now trade Forex and CFDs with them.

Oanda began operations in 1996. This makes the platform one of the first internet brokerage firms. The company then provided traders with exposure to spot FX and CFDs. Oanda has a strong FX industry worldwide, with 124 investment products and institutional FX solutions.

With an Oanda membership, you may also experiment with automatic trading. You can execute significantly more transactions with algorithmic trading than you could with human trading. It also implies that you may trade many sectors simultaneously, from commodities to options trading and cryptocurrencies.

If Oanda’s PC interface does not appeal to you, download MT4. According to this study, the accepted practice incorporates sophisticated graphing, monitoring lists, and transaction automation through an “expert adviser” (EA) add-on.

Oanda trial account ratings are eager to point out one of the training account’s most appealing features. Unlike other fx brokers, Oanda’s sample account is accessible until a trader develops his technique and feels empowered.

The broker maintains a policy of not demanding a certain deposit amount. It guarantees that prospective day investors and individuals with low cash do not need to put up more money while learning the ropes. Deposit and withdrawals are made via bank wire transfer, debit/credit cards, Skrill, and Neteller.

On the OANDA homepage, you will find most of the helpful tips needed to start trading. Also, the firm provides multilingual help 24 hours a day, seven days a week.

You can reach Oanda’s help desk through email at any time, except during vacation market hours. Moreover, throughout trade hours, interactive online chatting and telephone assistance are accessible. Note that OANDA’s mobile number for your area is listed on their official web page.

Critical features of OANDA include:

  • More than 71 FX pairs
  • Direct trading from charts. 
  • Zero minimum deposit

Interactive Brokers

The complete service provided by Interactive Brokers is accessible to almost 100 market centers in 24 nations.

The IB firm was formed almost 40 years back by Thomas Peterffy. Then, the CEO bought a place on the AMEX (American Stock Exchange), now NYSE. As a result, he was able to deal with equity derivatives as an independent professional trader.

Interactive Brokers has licenses from top regulatory bodies like the:

  • SEC: Securities and Exchange Commission
  • FINRA: Financial Industry Regulatory Authority
  • NYSE: New York Stock Exchange
  • UK FCA: Financial Conduct Authority

The most prominent feature of the IB forex platform is the Trader Workstation. Traders use the TWS to trade various assets, including ETFs, commodities, and cryptocurrencies like Ethereum. It’s compatible with Apple, Microsoft, and Linux.

Interactive Brokers do not fully support the MetaTrader 4 and 5 interfaces. As you might expect, they aim to encourage the installation of their proprietary TWS technology. Therefore you won’t receive any help from them figuring out ways to link your MetaTrader program with theirs. Luckily, some third-party application developers can assist in bridging the systems.

TWS’ graphing is simple to operate and customizable enough for many users. There are also history transactions, notifications, and benchmark overlays accessible.

Users will also get direct exposure to practice/demo accounts. This trial version entitles customers to limitless simulated trades without risking any real money. You may learn about the commodities and formulate a successful plan online. It’s undoubtedly an excellent method to get a feel for their operating software.

You must finance your wallet to begin trading when you have registered a profile and gotten your login information. The minimum funding amount is $10,000 for all types of traders. 

Traders can make deposits in different ways. Investments that effectively move assets and deposit alerts are also included in this category.

The other enables Interactive Brokers to correctly credit inbound cash to your wallet while also guaranteeing that your payments keep their initial amount and denomination.

Transfer options accepted by the brokerage firm include wire & SEPA (Single Euro Payments Area). Keep in mind that the banking institution may charge a money transaction fee. Once you set up a profile, you will get wire procedures through email.

Note that Interactive Brokers set withdrawal restrictions while using a robust authentication method. For instance, you’re only allowed to remove $50,000 each day. This also includes a total withdrawal fee of $100,000 throughout five working days.

In general, you can contact the customer service team of Interactive Brokers in various simple ways. When contrasted to rivals, though, response times are high, and assistance quality is sometimes inadequate.

Other features of Interactive Brokers include:

  • There are no penalties for inactive accounts.
  • They provide a free trial registration.
  • Users can choose from various transaction kinds.
  • Users have access to portable apps that are both strong and dependable.
  • The TWS (Trader Workstation) platform is robust and includes a variety of features.

What is Forex Trading in the USA?

The foreign exchange market, simply known as Forex, is the world’s largest financial market. It is an open market for the trading of currencies. The US dollar is used as a reference currency since foreign exchange rates are expressed about its value. Some traders will also use the Euro or the British pound sterling.

Is it legal to trade Forex in the USA?

The legality of trading Forex in the USA is not explicitly stated in US law. But, it is a rule that you can trade Forex as long as the broker has a license from the US Government or a recognized foreign regulatory authority.

In the US, Forex is regulated by the Commodity Futures Trading Commission (CFTC), responsible for regulating options and futures markets. Also, if you are trading Forex, you will be subject to the rules of the NFA or a voluntary regulatory organization.

Trading with regulated US based forex brokers is essential to help avoid potential fraud or identity theft by ensuring that the broker has gone through an authorization process. Furthermore, trading Forex can be complicated, and therefore it is beneficial to have a third party regulating the rules of the market. It helps to ensure that you have complete transparency into what you are trading.

How to Choose The Best US Forex Broker 

One of the best ways to make sure that you are given a fair price is by finding out what kind of broker you are dealing with. Generally, it is recommended to use a forex broker in the US that has been around for some time and has been giving out good returns consistently. 

There are five primary methods of selecting the best forex broker in America. These are: 


The National Futures Association (NFA) is a self-regulating organization that sets trading rules for all US Forex brokers. This organization was created to protect the forex broker companies’ customers and ensure that every company that falls under its jurisdiction abides by the rules. 

Tip: The NFA will regulate the best US forex broker and have formal ties with the Securities Exchange Commission (SEC).

Account Types Available

The type of account you open with your broker is a critical decision, and it goes hand in hand with the amount of money you plan to invest. 

Most forex brokers have demo accounts, live trading accounts, and retirement accounts. You should get more than one quote from different brokers before you choose because the fees may vary. You will want to select a live trading account if you plan to trade all these account types.

Number of Forex Pairs Available

A good forex broker will have dozens of forex pairs to choose from. This is because it can take a while to figure out which pairs are the best for you, and you may want additional time to make sure that the brokers you are dealing with are giving you the best deal. Nevertheless, keep in mind that there will be lots of pairs available for trading, which means there is more competition among brokers.

Trading Platform

You should choose a forex broker that offers a good trading platform. Some brokers use the MetaTrader4 trading platform, and others use a proprietary system. If you can easily navigate your trading platform, it will be easier for you to choose between the different forex pairs available to you, and it will be more convenient. 

Customer Service

The best forex broker in the US should provide the best customer service even after the deal is closed. This is because you will often need to ask your broker about specific things to ensure that you are not falling into any traps. When you have a question, you will want the broker to answer it quickly and helpfully. 

A forex broker can offer many types of customer service, from 24/7 live chat support, email support, telephone support, and much more.

Benefits of Trading Forex in the USA

Forex, or foreign exchange, is one of the best ways to diversify your portfolio and hedge against unexpected events. Here are the main benefits of trading Forex in the USA.

Trade Anytime of The Day

International markets exist 24 hours a day, seven days a week, except Christmas Day. On most weekends throughout the year, trading in Forex (foreign exchange) is usually open 24 hours a day. There are no holidays or weekends in which Forex trading stops.

Access to Free Educational Resources

Educational Resources in the form of free webinars and books on how to trade Forex are available. The Forex market is global, but it can be challenging to access local experts who can explain an investor’s options when trading in the USA.

Free Trading Platforms

Forex traders have access to free, downloadable trading tools and charts used for technical analysis, which help determine the price direction of currency pairs. Some of the most prevalent Forex trading systems include IG Interactive Brokers, OANDA, Ameritrade, and

Very Low or No Commissions

The cost of trading Forex is relatively low compared to other forms of investing. No commissions are charged on the spot foreign exchange market; however, currency conversion fees can be incurred if an investor wants to invest in another currency outside their local area. 

Several Management Tools

A forex trader can manage their risk through various risk management tools available on numerous trading platforms. One popular type of risk management is stop-loss orders, which the trader sets to stop them from losing money automatically.


Leverage refers to the amount of money that a Forex trader uses to trade. It is the ratio between how much money a trader has and how much they are betting on an asset, and it can be executed by both purchase and sale. Leverage is usually provided in the form of a broker loan, which isn’t free but reduces transaction costs for the trader.

Call or Put Profits

A Forex trader can profit by ‘going long, but they can also use leverage to make money by going short. It is easy to identify what direction an investor is trading in, as the currency’s price card shows whether it is up or down at any given time. Understanding leverage and the bid-ask spread will help a trader have a better grasp of the Forex market.

High Volatility

The Forex market is highly liquid, meaning that it can be entered or exited with ease. In simple terms, liquidity in the Forex market refers to the buying and selling pressure and how easily an asset can be bought or sold without changing its value substantially.

Free Technical Indicators

Technical analysis is used to determine the price movement of currencies and predict future trends in particular assets. Technical analysis is based on the study of historical data relating to price movement along with volume, open interest, and other market data that can be used to forecast future price movement. The foundation of technical analysis is built upon the idea that all relevant information about a particular trading asset has already been reflected in its price; therefore, it is just a matter of interpreting this information.

Free Virtual Funds

A demo account is essentially a virtual trading account designed to allow Forex traders to test their strategies without risking any of their actual funds. A demo account can practice and perfect trading strategies before putting real money on the line.


Trading forex in the United States is more than possible. Interestingly, trading forex in the United States is legal. You can trade in the United States as long as you follow US law and tax regulations.

If you’re new to forex trading, there are many instructional resources and tools available. Tools provided on simulated online platforms can help you grasp how US forex trading works. In general, it is best to comprehend how to trade in the United States before jumping right into the industry.


What is the best forex broker in the USA? is one of the best brokers regulated in America. Some of the features of include MetaTrader4, one of the most popular trading platforms in the world, a free demo account, and access to more than 350 brokers. also provides 24/5 customer service with live chat as well as toll-free telephone numbers.

Where can I trade Forex in the US?

There are many Forex traders in the US. Some of the top online Forex trading sites for Americans are included in this review. All these platforms are easy to use, and you can start trading the markets immediately.

What forex brokers are regulated in the USA?

One of the Forex brokers in the US is Interactive Brokers. This broker is a US forex broker regulated by the National Futures Association (NFA). Generally, all the brokers under this review are controlled to operate in the USA.