7 Best Forex Brokers Regulated By The CFTC 2024 US Traders

If you can’t find any information about licenses, it’s a high chance you’re dealing with a forex scam. Below is our curated list and review of the best forex brokers for traders living in the United States, with details and information about the country laws, the features, and the characteristics. With direct access to interbank quotes and top-tier liquidity providers, clients benefit from transparent pricing with no hidden spreads or markups. When U.S. clients are forex trading with IB, they enjoy tight spreads with volume-tiered pricing.

– Good For Trading Forex Options

That said, US traders can access the same range of accounts as in other countries. New to forex trading and wondering how to choose the best CFTC-regulated forex broker? CompareForexBrokers.com has profiled the top brokerages ideally suited for American readers new to trading forex and CFD products.

How to check if a Forex broker is CFTC regulated in the USA?

The RAW Account, on the other hand, is designed for traders aiming for the tightest spreads, starting at zero pips, with a fixed commission fee of $7 round turn. This account is available on the Forex.com platform and MetaTrader 5 for an experience tailored to high-volume trading. Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews, so you can feel confident you have the most up-to-date information at your fingertips.

Trading Tools

Read our full-length review of IG to learn why we consider IG to be the top choice for U.S. forex traders. TD Ameritrade’s trading platform, thinkorswim, has captured the attention of traders globally. U.S traders will appreciate its clear design, impressive functionality, and securities trading optimization, including off-exchange spot forex and futures. This broker also boasts a wide array of investment opportunities and offers 105 forex pairs, 7,400 CFDs, US-traded Bitcoin futures, and much more. IBKS’s Trader Workstation is a bit difficult to use but does provide a full range of features – although we’ve chosen IBKR for its mobile app, it should be used as a supplement to their other platforms.

– Top Forex Broker Range Of Markets

The extensive range of trading products is undeniably one of TD Ameritrade’s core strengths. As account holders with this full-service brokerage, we were privileged to trade 70 pairs, 13 stock indices, over 300 ETFs, and a massive list of 37,000 mutual funds. With its design rooted in HTML5, suitable for most browsers, we had access to at least 28 technical indicators and 19 drawing tools – ideal for comprehensive analytics. IG’s US clients won’t have access to all the same tools as the UK and Australia-based traders, but all the core tools and functions are there.

How Can You Trade Forex In The US

Plus500 stands out in the futures trading landscape, offering an accessible entry point for beginners with a user-friendly interface and a comprehensive suite of micro and mini contracts. Interactive Brokers (IB), which is widely acclaimed for its commitment to low fees, is an attractive choice for traders who value cost efficiency alongside powerful trading tools. The broker’s commitment to innovation and user experience, particularly in mobile trading, has not gone unnoticed in the FinTech sector.

1. Likewise, as retail investing increases in popularity, unethical individuals may attempt to profit illegally by posing as legitimate trading platforms or investment advisors.
2. Still, those with more experience who prefer the MetaTrader interface may feel restricted.
3. Cryptocurrency enthusiasts will also appreciate this broker’s focus on Bitcoin and other digital assets.
4. When U.S. clients are forex trading with IB, they enjoy tight spreads with volume-tiered pricing.

Our journey with FOREX.com was characterised by a no-nonsense trading environment, attractive commissions, and a medley of platforms catering to various trading personas. If you’re an intermediate or pro trader in the US seeking top-tier analytics without breaking the bank, FOREX.com is certainly worth considering. The trading tool provides all the tools you need to build automation – and, unlike MetaTrader 4, does not require EAs. If you’re familiar with C#, you can write your own automation script for custom indicators using NinjaScript, while those with less technical savvy have access to a point-and-click, no-code option. Used by over 500,000 users, NinjaTrader treated us to top-tier charting and analysis.

Opening a trading account with Trading.com takes little time and less effort. However, the broker allows traders to fund their accounts via credit card, wire transfer or ACH transfer. We like MT5 because it offers access to markets beyond the foreign exchange market, allowing users to trade asset classes only available on centralized exchanges.

Daytraders interested in trading stocks, mutual funds or cryptocurrency also have the option to trade via IBKR Global Trader or Impact. Forex trading in the USA is regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association best us forex brokers (NFA). These organizations set strict rules and regulations to protect traders and ensure the market’s integrity. If you’re a US resident and wish to start Forex trading, you should choose a broker that CFTC and NFA regulate to protect your capital.

The successor to MetaTrader 4 provides a similarly high-quality trading environment, with several innovative features. We also enjoyed experimenting with the broker’s proprietary trading platform. Aptly named TraderWorkstation, it offers professional-grade trading conditions. We also took note of the range of order types, which includes Basket orders and One-cancels-all. Spreads start at 1.0 pips, but US traders pay no commission, regardless of the size of the trade. In terms of markets, you can trade more than 80 major, minor and exotic currency pairs, as well as unleveraged gold and silver.

Still, due to EU-wide regulations, a license to operate in one jurisdiction allows a broker to operate anywhere within the bloc. While exploring various trading platforms, eToro caught our attention with its distinct branding and resemblance to a social media interface. Although it’s a big name globally, eToro has yet to make its mark in the US fully. We like Nadex for its robust and user-friendly platform, which pairs well with affordable trading costs.

However, the trader buys and sells the actual currency in spot forex trading. The position limits initiate at 100 for knockouts, journeying to 25 for Call Spreads, and hitting a peak of 2,500 for Binary options. However, for traders like us who’ve got an appetite for a richer instrument palette, Nadex might appear a tad restrictive.

Opening an account requires no minimum deposit; however, traders must meet margin requirements to take a trading position. Overall, FOREX.com has some of the tightest spreads available in the United States from 0.0 pips. In https://www.trading-market.org/ addition, you can choose from a generous range of trading platforms and access free tools to help you find trades faster. Regardless of which FOREX.com account you choose, you’ll have access to all of its trading products.