Top 5 of Best US Forex Brokers for 2020
Are you searching for the best US forex brokers?
Of course you are.
Luckily, our team of professional forex broker reviewers can take care of your every need.
Let alone the best forex broker in USA, our team realizes it is tough to find any broker which offers a trustworthy, and still value for money proposition when you want to trade forex in the USA. Forex brokers accepting US clients may be few and far between, but we have combined years of experience to narrow your selection down to the top five brokers.
These five are among the best forex brokers USA has to offer.
In fact, they are some of the best forex brokers for residents of any country. These brokers will ensure you feel safe, secure, and still have the ability to prosper in your trading career. They have been selected as the best US forex brokers for a variety of reasons.
Among these reasons are the amount of trading support they offer you, they wide range of markets and instruments that are available for trading, and the very competitive pricing and fee structure offered by these top brokers.
(This post is part of the best forex brokers series)
Who is the Best Forex Broker in USA? – The Top 5
Here’s our ranking of the best 5 US forex brokers:
When it comes to US forex brokers, Forex.com has to be an immediate consideration for opening your forex trading account in the USA. They provide a selection of flexible and accessible account types, including their Direct Market Access account. This offers some of the most unbeatable spreads among any of the forex trading brokers USA. They also provide extensive trading options in all of the top forex currency pairs, metals including gold and silver, as well as futures trading. When it comes to forex brokers accepting US clients, Forex.com certainly offers among the most comprehensive range of services to their US-based traders.
- Regulations: Forex.com registered at the FCM and RFED with the CFTC and member of the NFA (NFA # 0339826); GAIN Capital UK Ltd authorised & regulated by the FCA (113942); GAIN Capital – Forex.com Canada Ltd. regulated by IlROC; Gain Capital Japan Co., Ltd. regulated by the FSA. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker, ECN
- Leverage: 50:1
- Minimum Deposit: $50
- Platforms: Advanced Trading (desktop), Web platform, mobile (iOS and Android)
- Headquarters: GAIN Capital Holdings the parent company of Forex.com is headquartered in Bedminster, NJ USA
- US Customers: Yes
- Other instruments: CFDs on Gold and Silver
TD Ameritrade is one of the best known names when it comes to US forex brokers, and finance companies in general. They offer trading in a host of markets. These include equities which are very competitively priced, as well as more than 70 forex currency pairs. These markets are comprised of major, minor, and exotic pairs. Many such markets and investment products would be extremely difficult to access with other forex trading brokers USA has available. In fact, you can often benefit from commission-free trading offers with the broker. ETFs, stocks, options, and cryptocurrency trading are all available for your trading enjoyment at TD Ameritrade.
Oanda is also making progress toward becoming the best forex broker in USA according to our professional review team. The industry leader is making progressive inroads in the US market, and now offers trading in more than 70 diverse forex currency pairs. This is more than enough for you to trade successfully. Added to this, you can also benefit from the powerful educational and research infrastructure Oanda provides. This includes MarketPulse, a selection of news, technical analysis, and research resources which are provided by the in-house Oanda team. This can combine perfectly with our own online investment guides and educational content.
- Regulations: OANDA Corporation registered with the CFTC and member of the NFA (0325821); OANDA (Canada) Corporation ULC regulated by ILROC; OANDA Europe Limited authorised & regulated by the FCA (542574); OANDA Asia Pacific Pte Ltd licensed by MAS; OANDA Australia Pty Ltd regulated by ASIC (412981); OANDA Japan Co., Ltd FFA subscriber (1571). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker, agency
- Leverage: 1:50
- Minimum Deposit: No minimum deposit required
- Platforms: MT4 (desktop, iOS, Android), OANDA’S desktop platform, mobile platform (iPhone, iPad, Android)
- Headquarters: OANDA Corporation is headquartered in New York City, USA
- US Customers: Yes (but are unable to trade CFDs)
- Other instruments: CFDs on indices, commodities, bonds, metals; spread betting
You will very often find Interactive Brokers among our lists of top forex brokers. This is also true when it comes to our choice of top US forex brokers. This is thanks to a number of positive aspects which the longstanding broker uses to attract clients around the world. These include an excellent proprietary trading platform which offers some of the most advanced trading tools available on any market, and a widespread list of products which are available at highly competitive rates. These products include currencies, options, metals, and indices within a list which is ever increasing.
- Regulations: Interactive Brokers LLC is a member of the NYSE, FINRA, and SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission; Interactive Brokers Canada INC. is a member of IIROC; Interactive Brokers Australia PTY LTD licensed & regulated by ASIC (2455740; Interactive Brokers (U.K.) Limited is authorised & regulated by the FCA (208159); Interactive Brokers (India) PVT. LTD. registered with SEBI (INZ000217730); Interactive Brokers Securities Co., Ltd. Financial instruments broker member of the Japan Securities Dealers Association General Financial Futures Trading Association; Interactive Brokers Hong Kong Limited regulated by the Hong Kong Securities and Futures Commission. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: ECN
- Leverage: 1:78
- Minimum Deposit: No minimum deposit required, however, you will need to deposit $ 2,000 USD or equivalent if you wish to trade with a margin
- Platforms: IBKR WebTrader, IBKR mobile (iOS, Android), IB Trader Workstation (desktop)
- Headquarters: Interactive Brokers LLC is headquartered in Greenwich, USA
- US Customers: Yes
- Other instruments: CFDs on shares, indices, bonds, mutual funds, futures, ETFs, Bitcoin futures, cryptocurrency CFDs; options
5. IG Markets
With over 40-years in the industry, IG Markets is a true pioneer of the industry, and among the most longstanding forex brokers accepting US clients. The broker has evolved continually, keeping the requirements of US-based traders as a top priority. They now provide access to more than 80 forex trading markets. These can be traded on MT4, the mainstay trading platform for top US forex brokers and traders from all around the world. Accessibility with IG is also excellent, you can engage with a number of top professional charting packages using your desktop, phone, or other smart device. Beyond the USA, IG Markets also featured in our top 10 largest forex brokers Australia. This showcases their global appeal to traders.
- Regulations: IG Markets Limited licensed by ASIC (AFSL no. 220440), licensed by the FSP (No. 18923), and authorised & regulated by the FCA (195355); IG Index Ltd authorised & regulated by the FCA (114059). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker
- Leverage: 1:200
- Minimum Deposit: £ 250 or equivalent
- Platforms: MT4, web platform, trading apps (iPhone, iPad, Android mobile, Android tablet), L2 Dealer
- Headquarters: IG Markets Limited is headquartered in London, UK
- US Customers: No
- Other instruments: CFDs on shares, indices, bonds, options, interest rates, sectors, cryptocurrency; spread betting; digital 100s