Forex traders in the United States know that in this fast-paced environment fortunes are made within seconds which is why finding the best broker in the US is vital.

The exciting pace at which the Forex market moves is very attractive to some US traders which is why you need the most reliable trading platform you can find.

As such, we hear you loud and clear: you want the best forex trading platform to get the best out of your trading.

So, after doing some comprehensive research, we’ve compiled a list of the best forex brokers in the United States and highlighted what we particularly like about each one of them.

Whether you are a professional, an algorithmic, a social trader, or simply someone just looking for education or a well-rounded offer, we’ve got you covered.

How to Choose the Best US Forex Broker

Choosing the right broker is an often-underrated process. However, those in the know will tell you that a broker can make or break your strategy. Whether it’s the fees adding up, unexpected inactivity charges, or not having sufficient speed or reliability, several factors can hamper your trading sessions.

As such, you should find the right fit instead of just settling for less. First and foremost, before going down the foreign exchange route, remember to check for US regulations because this won’t be your everyday exchange at the Bank of America, Forex is a whole new world.

Going from there you should do a list of the pros and cons you’ll find in each broker and see how each one of them can help your trading style. You want to avoid the risk of losing money as much as possible, so remember to come up with answers for questions like these:

· Do you want a ready-made portfolio?

· Are you looking to copy trade?

· How much leverage will you be using?

· Do you know the broker’s size of commissions? And what do their spreads look like?

· How reputable is the broker you’re looking at?

· Is the broker you’re looking at regulated?

· Where is it regulated? Is it in a top-tier jurisdiction?

These are some examples of the questions you should know the answer to before investing. It is crucial to really take the time to understand if the broker’s software lines up with your trading style and your trading strategy.

Sometimes the impact that functionalities and features can have on a trader is somewhat overlooked.

Platforms are evolving day after day to meet the relentless demand of traders worldwide so don’t settle for anything less than what you deserve.

And, if you’re still somewhat uncertain at this point, you may want to try out a demo account first and do a couple of trading sessions to make sure exactly what is going on 'backstage' and to get comfortable with the software itself.

This way you can trade with no risk while actively evaluating the quality and adequacy of news and analytical data your broker is providing you.

And, as soon as you’re ready, it’ll be time to open a brokerage account and start your investment journey.

As always, when dealing with forex there is a high risk of losing, however, you won’t want to start losing money rapidly due to not having the right trading partner.

So read on to find out what broker will suit your strategy and trading style best.

1. Interactive Brokers

IBKR

Interactive Brokers, commonly referred to as IBKR, has been the gold standard for professional users given its wide range of features and cleverly built tools which massively improve one’s trading experience.

As such, it was to no one’s surprise that Interactive Brokers was awarded by Barron with the 'Best Online Broker' award, something which attests to this broker’s determination of empowering their clients not just in the US but all over the world.

In fact, Interactive Brokers is one of the most well-known investment companies in the US.

Given that IB is regulated and overseen by a plethora of authorities, such as the SEC (US Securities and Exchange Commission), the FCA (UK Financial Regulatory Authority), FINRA (US Financial Industry Regulatory Authority) and the CFTC it certainly is a reputable broker and considered to be a safe trading partner.

Moreover, with IB you won’t have any trouble finding your favorite currency pair given their wide range of pairs.

Interactive Brokers might just be the most comprehensive platform out there as it manages to empower its users with a massive breadth and depth of assets as it offers them a plethora of trading options all in one integrated account.

As such, you’ll find that it supports over 300 trading instruments such as metals, commodity assets, stocks, ETFs, and so forth, making it a reliable broker for those who wish to diversify their portfolios as well.

But, that doesn’t end there as IBKR is known for having top-notch research reports, educational materials, tools and other incredible features.

Accordingly, it comes as no surprise that so many people gravitate towards Interactive Brokers not just as one of the US best forex brokers, but on a global level.

Interactive Brokers Features

· Regulation: FCA, CFTC, SEC, SIPC

· Leverage:

· Minimum spreads: from 0 pips

· Minimum deposit: $100

· Inactivity fee: Yes

· Trading platforms on offer:

· Customer Support:

· Benefits: Educational portal, quality analytics

2. Forex.com

forex.com

Forex.com excels at delivering a fantastic trading experience for both forex and CFDs traders around the world.

Its proprietary platforms and multi-asset offerings really come together and have earned them two awards in 2022 (Offering of Investments and Mobile Trading).

In what concerns market news and analysis, you’ll be met with a great deal of quality written content as multiple sectors and markets are covered.

Their in-house analysts produce pertinent pieces, but you also get other resources coming in from third-party providers.

Moreover, Forex.com boasts an average rate of order execution of just 0.04 ms, meaning that even on mobile you’ll get the speed you’re looking for.

Forex.com Features

· Regulation: ASIC, NFA, FCA, FSA, CFTC, IIROC, SFC

· Leverage: 50:1

· Minimum spreads: from 0.2 pips, 1.1 pips average for standard accounts.

· Minimum deposit: $100 for standard accounts ($25.000 for DMA accounts)

· Trading platforms on offer: Proprietary app as well as Metatrader 4 (MT4) and Metatrader 5 (MT5)

· Customer Support: 24/5

· Benefits: Welcome bonus (20% bonus on the amount funded into your account; max bonus $5000)

3. IG

IG

IG is the place where industry-leading education meets the ultimate trading package.

The company was founded in 1974 and is publicly traded and regulated in six top-tier jurisdictions, meaning that it is a safe and sound option for those willing to navigate the Forex seas.

It offers an incredible forex trading experience but isn’t limited to it as you’ll be met with listed derivatives such as options and futures.

IG gives you access to the well-known MetaTrader 4 platform, the L2 Dealer DMA platform, but also the charting software platform ProRealTime.

However, its flagship platform really shines as it has usability at its very core, meaning it hosts an endless variety of both trading and research tools and also risk-management modules, and many other incredibly useful features.

IG boasts over 178,000 clients across all five continents. With an extensive list of features and an amazing product catalog, IG lives up to its claim of fulfilling decisive, informed and adventurous investors to major opportunities in the financial world.

IG Features

· Regulation: FCA (Financial Conduct Authority), MAS (Monetary Authority of Singapore), CFTC and NFA.

· Leverage: 1:200

· Minimum spreads: 0.6 pips

· Minimum deposit: $450

· Trading platforms on offer: MT4

· Customer Support: 24/5

· Benefits: Active trader and/or VIP discounts. Educational content. Corellian Academy content (risk management)

4. TD Ameritrade

TD Ameritrade

TD Ameritrade has been providing US traders with some of the best trading technology out there. TD Ameritrade’s desktop platform is what really shines here and empowers traders to outperform in every single trading session (much more so than mobile apps for that matter).

The company is part of the Charles Schwab Corporation. It is publicly traded and regulated in top-tier jurisdictions, meaning it is considered to be safe and trustworthy by traders worldwide.

With over 11 million clients and around $1 trillion in assets, TD Ameritrade has proved to have won the confidence of US traders.

In fact, their customer service has an average connection time of under 1 min and excels in terms of professionalism.

As you’d expect, TD Ameritrade doesn’t limit its offer to Forex but expands into other areas such as exchange-traded forex futures, ETFs, options on forex futures and so forth.

The account minimum to activate margin is $2000. ThinkorSwim, TD Ameritrade’s flagship platform has been getting great feedback and its multimedia offering is stellar, namely its Youtube channel and webinars.

It also features third-party news integration from credible sources such as Reuters, Dow Jones and CNBC.

As such, TD Ameritrade continues to solidify its presence amongst Forex traders, listening to their feedback and working to meet the market’s relentless demands.

TD Ameritrade Features:

· Regulation: FCA (Financial Conduct Authority), SFC (Securities Futures Commission, MAS (Monetary Authority of Singapore).

· Leverage: Floating

· Minimum spreads: 1.2 pips

· Minimum deposit: $0 ($2000 activates margin trading)

· Trading platforms on offer: ThinkorSwim (Proprietary platform)

· Customer Support: 24/5

· Benefits: Live video broadcasting, Trader Talks. Welcome bonus.

5. OANDA

OANDA

OANDA, also known as Olsen & Associates, was founded in 1996 and is regulated in top-tier jurisdictions, meaning it can be considered a safe broker for both forex and CFDs trading.

It is known for its high-quality market research pieces and its well-rounded offering of research tools and market analysis. Despite not being listed on a stock exchange and not having a banking background, OANDA doesn’t compromise on quality and safety.

Social trading or copy trading is possible via Zulutrade, a feature which helps a lot of inexperienced traders analyze how seasoned traders (somewhat like mutual fund managers) work their magic and mimic their investments.

Given the dynamics of social trading, investors can copy many different traders, an angle which brings a lot of depth to one’s portfolio. However, to do so you will need a $500 deposit.

Algorithmic traders will also find themselves welcomed as OANDA features many options for algo trading. Another thing to consider is how easy it is to set up an account with OANDA.

OANDA Features

· Regulation: (FCA) Financial Conduct Authority, (CFTC) Commodity Futures Trading Commission, (ASIC) Australian Securities & Investment Commission (ASIC), (JFSA) Japanese Financial Services Authority, MAS (Monetary Authority of Singapore), (IIROC) Investment Industry Regulatory Organization of Canada.

· Leverage: 1:50

· Minimum spreads: 1.1 pips

· Minimum deposit: $1

· Trading platforms on offer: Proprietary platform

· Customer Support: 24/5

· Benefits: Up to $1000 welcome bonus

Forex traders in the United States know that in this fast-paced environment fortunes are made within seconds which is why finding the best broker in the US is vital.

The exciting pace at which the Forex market moves is very attractive to some US traders which is why you need the most reliable trading platform you can find.

As such, we hear you loud and clear: you want the best forex trading platform to get the best out of your trading.

So, after doing some comprehensive research, we’ve compiled a list of the best forex brokers in the United States and highlighted what we particularly like about each one of them.

Whether you are a professional, an algorithmic, a social trader, or simply someone just looking for education or a well-rounded offer, we’ve got you covered.

How to Choose the Best US Forex Broker

Choosing the right broker is an often-underrated process. However, those in the know will tell you that a broker can make or break your strategy. Whether it’s the fees adding up, unexpected inactivity charges, or not having sufficient speed or reliability, several factors can hamper your trading sessions.

As such, you should find the right fit instead of just settling for less. First and foremost, before going down the foreign exchange route, remember to check for US regulations because this won’t be your everyday exchange at the Bank of America, Forex is a whole new world.

Going from there you should do a list of the pros and cons you’ll find in each broker and see how each one of them can help your trading style. You want to avoid the risk of losing money as much as possible, so remember to come up with answers for questions like these:

· Do you want a ready-made portfolio?

· Are you looking to copy trade?

· How much leverage will you be using?

· Do you know the broker’s size of commissions? And what do their spreads look like?

· How reputable is the broker you’re looking at?

· Is the broker you’re looking at regulated?

· Where is it regulated? Is it in a top-tier jurisdiction?

These are some examples of the questions you should know the answer to before investing. It is crucial to really take the time to understand if the broker’s software lines up with your trading style and your trading strategy.

Sometimes the impact that functionalities and features can have on a trader is somewhat overlooked.

Platforms are evolving day after day to meet the relentless demand of traders worldwide so don’t settle for anything less than what you deserve.

And, if you’re still somewhat uncertain at this point, you may want to try out a demo account first and do a couple of trading sessions to make sure exactly what is going on 'backstage' and to get comfortable with the software itself.

This way you can trade with no risk while actively evaluating the quality and adequacy of news and analytical data your broker is providing you.

And, as soon as you’re ready, it’ll be time to open a brokerage account and start your investment journey.

As always, when dealing with forex there is a high risk of losing, however, you won’t want to start losing money rapidly due to not having the right trading partner.

So read on to find out what broker will suit your strategy and trading style best.

1. Interactive Brokers

IBKR

Interactive Brokers, commonly referred to as IBKR, has been the gold standard for professional users given its wide range of features and cleverly built tools which massively improve one’s trading experience.

As such, it was to no one’s surprise that Interactive Brokers was awarded by Barron with the 'Best Online Broker' award, something which attests to this broker’s determination of empowering their clients not just in the US but all over the world.

In fact, Interactive Brokers is one of the most well-known investment companies in the US.

Given that IB is regulated and overseen by a plethora of authorities, such as the SEC (US Securities and Exchange Commission), the FCA (UK Financial Regulatory Authority), FINRA (US Financial Industry Regulatory Authority) and the CFTC it certainly is a reputable broker and considered to be a safe trading partner.

Moreover, with IB you won’t have any trouble finding your favorite currency pair given their wide range of pairs.

Interactive Brokers might just be the most comprehensive platform out there as it manages to empower its users with a massive breadth and depth of assets as it offers them a plethora of trading options all in one integrated account.

As such, you’ll find that it supports over 300 trading instruments such as metals, commodity assets, stocks, ETFs, and so forth, making it a reliable broker for those who wish to diversify their portfolios as well.

But, that doesn’t end there as IBKR is known for having top-notch research reports, educational materials, tools and other incredible features.

Accordingly, it comes as no surprise that so many people gravitate towards Interactive Brokers not just as one of the US best forex brokers, but on a global level.

Interactive Brokers Features

· Regulation: FCA, CFTC, SEC, SIPC

· Leverage:

· Minimum spreads: from 0 pips

· Minimum deposit: $100

· Inactivity fee: Yes

· Trading platforms on offer:

· Customer Support:

· Benefits: Educational portal, quality analytics

2. Forex.com

forex.com

Forex.com excels at delivering a fantastic trading experience for both forex and CFDs traders around the world.

Its proprietary platforms and multi-asset offerings really come together and have earned them two awards in 2022 (Offering of Investments and Mobile Trading).

In what concerns market news and analysis, you’ll be met with a great deal of quality written content as multiple sectors and markets are covered.

Their in-house analysts produce pertinent pieces, but you also get other resources coming in from third-party providers.

Moreover, Forex.com boasts an average rate of order execution of just 0.04 ms, meaning that even on mobile you’ll get the speed you’re looking for.

Forex.com Features

· Regulation: ASIC, NFA, FCA, FSA, CFTC, IIROC, SFC

· Leverage: 50:1

· Minimum spreads: from 0.2 pips, 1.1 pips average for standard accounts.

· Minimum deposit: $100 for standard accounts ($25.000 for DMA accounts)

· Trading platforms on offer: Proprietary app as well as Metatrader 4 (MT4) and Metatrader 5 (MT5)

· Customer Support: 24/5

· Benefits: Welcome bonus (20% bonus on the amount funded into your account; max bonus $5000)

3. IG

IG

IG is the place where industry-leading education meets the ultimate trading package.

The company was founded in 1974 and is publicly traded and regulated in six top-tier jurisdictions, meaning that it is a safe and sound option for those willing to navigate the Forex seas.

It offers an incredible forex trading experience but isn’t limited to it as you’ll be met with listed derivatives such as options and futures.

IG gives you access to the well-known MetaTrader 4 platform, the L2 Dealer DMA platform, but also the charting software platform ProRealTime.

However, its flagship platform really shines as it has usability at its very core, meaning it hosts an endless variety of both trading and research tools and also risk-management modules, and many other incredibly useful features.

IG boasts over 178,000 clients across all five continents. With an extensive list of features and an amazing product catalog, IG lives up to its claim of fulfilling decisive, informed and adventurous investors to major opportunities in the financial world.

IG Features

· Regulation: FCA (Financial Conduct Authority), MAS (Monetary Authority of Singapore), CFTC and NFA.

· Leverage: 1:200

· Minimum spreads: 0.6 pips

· Minimum deposit: $450

· Trading platforms on offer: MT4

· Customer Support: 24/5

· Benefits: Active trader and/or VIP discounts. Educational content. Corellian Academy content (risk management)

4. TD Ameritrade

TD Ameritrade

TD Ameritrade has been providing US traders with some of the best trading technology out there. TD Ameritrade’s desktop platform is what really shines here and empowers traders to outperform in every single trading session (much more so than mobile apps for that matter).

The company is part of the Charles Schwab Corporation. It is publicly traded and regulated in top-tier jurisdictions, meaning it is considered to be safe and trustworthy by traders worldwide.

With over 11 million clients and around $1 trillion in assets, TD Ameritrade has proved to have won the confidence of US traders.

In fact, their customer service has an average connection time of under 1 min and excels in terms of professionalism.

As you’d expect, TD Ameritrade doesn’t limit its offer to Forex but expands into other areas such as exchange-traded forex futures, ETFs, options on forex futures and so forth.

The account minimum to activate margin is $2000. ThinkorSwim, TD Ameritrade’s flagship platform has been getting great feedback and its multimedia offering is stellar, namely its Youtube channel and webinars.

It also features third-party news integration from credible sources such as Reuters, Dow Jones and CNBC.

As such, TD Ameritrade continues to solidify its presence amongst Forex traders, listening to their feedback and working to meet the market’s relentless demands.

TD Ameritrade Features:

· Regulation: FCA (Financial Conduct Authority), SFC (Securities Futures Commission, MAS (Monetary Authority of Singapore).

· Leverage: Floating

· Minimum spreads: 1.2 pips

· Minimum deposit: $0 ($2000 activates margin trading)

· Trading platforms on offer: ThinkorSwim (Proprietary platform)

· Customer Support: 24/5

· Benefits: Live video broadcasting, Trader Talks. Welcome bonus.

5. OANDA

OANDA

OANDA, also known as Olsen & Associates, was founded in 1996 and is regulated in top-tier jurisdictions, meaning it can be considered a safe broker for both forex and CFDs trading.

It is known for its high-quality market research pieces and its well-rounded offering of research tools and market analysis. Despite not being listed on a stock exchange and not having a banking background, OANDA doesn’t compromise on quality and safety.

Social trading or copy trading is possible via Zulutrade, a feature which helps a lot of inexperienced traders analyze how seasoned traders (somewhat like mutual fund managers) work their magic and mimic their investments.

Given the dynamics of social trading, investors can copy many different traders, an angle which brings a lot of depth to one’s portfolio. However, to do so you will need a $500 deposit.

Algorithmic traders will also find themselves welcomed as OANDA features many options for algo trading. Another thing to consider is how easy it is to set up an account with OANDA.

OANDA Features

· Regulation: (FCA) Financial Conduct Authority, (CFTC) Commodity Futures Trading Commission, (ASIC) Australian Securities & Investment Commission (ASIC), (JFSA) Japanese Financial Services Authority, MAS (Monetary Authority of Singapore), (IIROC) Investment Industry Regulatory Organization of Canada.

· Leverage: 1:50

· Minimum spreads: 1.1 pips

· Minimum deposit: $1

· Trading platforms on offer: Proprietary platform

· Customer Support: 24/5

· Benefits: Up to $1000 welcome bonus