Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

7 Best Forex Brokers In USA 2024

US Forex Brokers

US Forex Brokers registered with CFTC and regulated by NFA accepting US Clients

Here you can find Forex brokers accepting US clients to trade currencies online. You might want to compare Euro (EUR) currency against the value against the U.S. Dollar (USD). We can help with your forex investments. The forex market, operating 24 hours a day for five days a week, is the world's most extensive and liquid market, encompassing trading of all global currencies. Top Brokers will help you find the online broker for you.

All these brokers are operating under U.S. regulations: registered with CFTC and regulated by NFA. We have not included any of the offshore Forex brokers that provide services to the US clients, turning a blind eye to Dodd-Frank Wall Street Reform and Consumer Protection Act, while it prohibits it. According to this regulation, adopted in 2010, - only brokers, registered in the USA can provide trading services to Americans.

We created a list of the 7 best US regulated Forex brokers accepting clients from the United States for 2024 who provide reliable services, excellent customer care services, and user-friendly trading platforms.

Forex Broker Platform Comparison Table

  • Key information
  • Trading
  • Payment systems
  • Trading platforms
  • Trading instruments
  • Support
  • Trading accounts
  • Account settings
  • Spreads
  • Promotion
Company#LogoForex brokerFoundedRegulatedReviewsPayment systemsBroker type(?)Min. DepositMax.
Live spread
Live spread
Live spread
Live spread
Live spread
Live spread
Live spread
Live spread
Live spread
Live spread
Deposit bonusAccount
1Forex.combest broker200122

Payment systems

100 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
2TD Ameritrade1975
2000 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-

Payment systems

5Interactive Brokers1977



Payment systems

10000 $1:40N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-



Payment systems


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Trading in the Forex market is heavily reliant on the platform you choose to execute your trades. A trading platform is a software application that connects you to the Forex market, enabling you to analyze the market, place orders, and manage your trades. 

Selecting the right trading platform is pivotal to your trading success, as it can significantly influence your trading experience and overall profitability. Let's compare the best forex trading platforms;

The above is the top Forex Brokers in the USA. Always do your research when choosing the most trusted brokers in the USA. 

what to consider before choosing MT4 brokers?

When selecting a MetaTrader 4 (MT4) broker, it’s important to find one that matches your trading needs and preferences. Finance Magnates provides insightful reviews of some of the top IC Markets MT4 brokers to consider.


The MT4 platform is renowned for its intuitive and easy-to-use interface. For beginner traders, ensuring the broker offers an accessible iPhone or Android app is also useful. Saxo Bank offers a highly-rated and user-friendly MT4 platform and mobile app.

Instrument Selection

Access to a wide range of currency pairs, CFDs on commodities, indices, and more allows greater trading flexibility. Brokers like IG offer over 17,000 tradable instruments to suit diverse trading strategies.

Automated Trading Options

For algorithmic trading, platforms like cTrader support automated scripts and bots. MetaTrader Brokers specialists StoneX Group offer cAlgo, allowing traders to code and backtest automated strategies.

Regulation and Security

Opting for a regulated MT4 broker registered with authorities like CySEC ensures oversight and security of your funds. Trusted names like Plus500, Interactive Brokers, and Oanda hold industry-leading licenses and regulations.

Spreads and Fees

Comparing MT4 brokers’ fee structures is vital—search for low, transparent spreads and commissions. BaseFEX offers ultra-tight spreads from 0 pips, for example.

With in-depth research using trusted industry sources like Forbes Best Forex Brokers rankings and Forex Risk Disclaimer’s Markets compare ratings, you can find your perfect MetaTrader 4 partner. Education International analysts emphasize paying attention to 1) regulation, 2) instruments and accounts, 3) costs and fees, 4) platform and tools, and 5) customer support.

By focusing on these key factors, you can have confidence you’ve selected one of the top MetaTrader brokers matching your unique needs. For additional guidance, trusted industry sources like Blain Reinkensmeyer are here to help guide your broker's decision.


A Forex broker is an essential intermediary for individuals looking to trade on the Forex (foreign exchange) market. Top US Forex brokers allow the buying and selling of currencies giving you access to the FX market.

The process to start trading on the Forex market is the same with all Forex brokers USA:

  1. Learn the Basics
  2. Choose a Broker
  3. Practice with Demo
  4. Fund Your Account with a minimum $100 to start trading
  5. Master the Platform
  6. Analyze the Market
  7. Start Trading
  8. Manage Risk
  9. Monitor and Adapt
  10. Practice Discipline

Pro Tips When Choosing a Broker

Choosing a Forex broker in the USA is a critical first step for beginners venturing into the world of currency trading. With a myriad of options available, it's essential to navigate this decision carefully to ensure a secure, efficient, and fruitful trading experience.

Here are the key pro tips for beginners when choosing Forex Brokers USA:

  • Prioritizing CFTC and NFA-regulated brokers like IFC Markets or Saxo Bank ensures oversight and security for your investments. Opting for advanced MT4 platforms with customizable ConsTrader Workstation suites and fast order execution is essential.
  • Opt for a broker offering real-time data, analytical tools, customizable charts, and quick order execution.
  • Understand the leverage options and margin requirements offered by the broker.
  • Evaluate the quality of customer support provided by the broker.
  • Compare the broker's spreads and any additional fees or commissions.
  • Look for brokers that offer demo trading accounts.
  • Check if the broker provides educational resources like webinars, tutorials, and guides.
  • Assess the variety of currency pairs offered by the broker.
  • Understand the broker's procedures for depositing and withdrawing funds.
  • Research online reviews and the broker's reputation in the trading community.
  • Ensure the broker employs robust security measures to protect your personal and financial information.
  • Explore the different account types the broker offers. Some brokers may provide specialized accounts for beginners, which could come with lower minimum deposits and additional educational resources.

Overall, paying attention to regulation, security, costs, education, and platforms will enable you to choose a top Forex broker USA matched to your trading requirements. Trusted industry experts echo focusing on these elements when comparing brokers like Saxo Bank vs IG vs CMC Markets vs Interactive Brokers. This ensures your success from the start of your trading journey in 2024 and beyond.

Best Forex Broker in the USA by Specialty

The diverse array of trading styles available demands careful consideration when choosing the best Forex US brokers that align with your preferences and goals. Each style of trading comes with its unique requirements, and pairing it with the right broker can make all the difference.

We'll explore some of the most popular trading styles and their corresponding top-rated Forex brokers in the USA. From crypto trading to copy trading, from trading apps to platforms compatible with specific devices, we've got you covered.

Here are the most popular styles of trading and their corresponding top-rated Forex USA broker:

1. Crypto: TD Ameritrade - TB recommended Forex broker.

2. Copy Trading: eToro - TB recommended Forex broker.

3. Best Trading App: Oanda - TB recommended Forex broker.

4. Beginner Trading: IG - TB recommended Forex broker.

5. iOS Compatible: TradeStation recommended Forex broker.

6. MetaTrader: Forex.com - TB recommended Forex broker.

7. Zero Spread: Interactive Brokers - TB recommended Forex broker.


As an investor, it is important to be acquainted with the Federal Reserve System (Fed). The Fed was created in 1913 by the U.S. Congress. Before then, there was no strong regulatory body that implemented monetary policy and the markets were very unstable.

After the crash of the stock market in 1929, Congress passed the 1933 Securities Act and Securities Exchange Act in 1934. These 2 laws were deliberately designed to restore the traders' confidence. In 1944, Bretton Woods formulated another legal framework to regulate the financial markets which were designed to prevent the recurrence of global depression. However, one of the challenges faced by Bretton Woods was the dollar's inability to maintain its convertibility. For many years, USA Forex brokers were not controlled by any authority. For some, it was a representation of true freedom while for other traders it was a blend of both ugly and good.

Since the introduction of the Farm Bill and subsequently, the Dodd-Frank Wall Street Reform Act (2010), a lot has changed in the FX sector. Today, United States Forex brokers or those dealing with US traders are part of and are regulated by the independent NFA and the CFTC. A notable change brought about by the Farm Bill was that USA Forex brokers needed to meet certain capital requirements of at least $20 million. As a result, many small and relatively new retail brokers who failed to meet this capital requirement disappeared.


Why are Forex regulations important? The foreign exchange market industry has rapidly grown in the past decade with the number of traders equally soaring. Moreover, the number of brokers has also increased leading to increased cases of fraud and scams. Potential malpractices and frauds are common in countries with little to no regulations.


Commodities Futures Trading Commission (CFTC)

The CFTC is a regulatory authority tasked with overseeing the regulation of all future markets including Forex. It operates under the Commodities Exchange Act framework. Non-bank USA Forex brokers working for retail traders are also regulated by this agency.

National Future Association (NFA)

The NFA is a non-profit and independent organization based in Chicago that does not operate on taxpayer money. This makes it difficult for the organization to have a conflict of interest. It also has the power to issue fines and can suspend the transactions of a broker. Moreover, it offers conflict resolution services that arbitrate disagreements between traders and their members. Non-bank FX brokers handling retail clients must be NFA members.

Office of the Comptroller of the Currency

The OCC is a bureau of the Department of the Treasury. It has rules that regulate futures for both local and international banks as stipulated in the Commodities Exchange Act. So how do all these organizations fit together? The OCC set of rules is the most current but was made parallel with the CFTC rules.

Set of NFA Rules for USA Forex Brokers

First, all Forex USA brokers are required to promote the integrity of the financial and FX markets by practicing transparent market practices. NFA allows fair competition among brokerage firms but all promotional and advertising materials should give information that will not mislead traders.

All NFA members should also have at least $20 million as operating capital. This is higher than many regulatory agencies across the globe. Higher operating capital ensures superior traders' liquidity and prevents any major financial pressures.

In addition, NFA-regulated brokers are required to issue financial statements every week. These financial statements give a clear picture of client account balances, cash flow amounts, and broker's expenditures. Besides that, the brokers also submit annual audit reports which are later published on the regulatory agency's official website.

US regulated Forex brokers should also employ competent and experienced staff.

What Happens if USA Forex Brokers Violate Regulations?

The National Futures Association has put in place a process that handles brokers' frauds and financial indiscretions. It looks for the alleged brokerage firm and takes the trader's complaints seriously. The organization is renowned for issuing heavy penalties as well as sanctions against brokers caught manipulating clients.

Why choosing a regulated USA Forex broker doesn't mean you have enough protection

A significant number of Forex brokers have a history of violating US FX regulations. In most cases, Forex brokers have deliberately violated these regulations where the violations were with the aim of making more money. Other USA Forex brokers have never been sanctioned by the NFA over the many years they have dealt with retail Forex clients. Although they may operate an honest business. This is not always the case. Several companies have been flagged for engaging in deceptive or even abusive execution acts to the detriment of the Forex client.

What kind of Forex broker do you want? Continue reading this article to find examples of the best Forex brokers in the USA.


US Forex trading may be a tedious and overwhelming undertaking but at the same time, it can be very rewarding. Its rewards may include an opportunity to make good money while also acquiring useful social networks with other traders. Having a good understanding of what it takes to become a Forex broker will enable you to trade independently.

Understand the Forex USA Market

Read as many web posts and books as possible. It will help you understand trading styles, mechanisms, players, and how Forex works. You will also be knowledgeable with regards to both technical and fundamental analysis as well as getting to know the macroeconomic factors at play in currency trading. You will also learn how to check order conventions, pricing, and other basics that you may require when assisting investors to decide on the best transactions.

Understand the role of USA Forex brokers in the contemporary trading environment

Get to understand what it means to participate in US forex trading. Understand the trading rules, operating hours for popular trading markets, and even the role of your Forex broker. Alternatively, you can search for online Forex forums and credible review sites.

It is important to note that with the advancement of technology, the role of the modern broker has also expanded to offering Forex information to traders. While some Forex brokers in the US offer trading platforms without offering relevant trading news, contemporary brokers offer a plethora of services including news and even trading tips. Competent Forex companies in the USA should ensure that the clients' trading software platforms are always functional, orders are processed efficiently and the company's pricing algorithms have an appropriate bid spread.

Ensure your broker has a professional certification

To become a Forex broker in the US you have to pass a Series 3 license (also referred to as National Commodity Futures Exam). Forex is regarded as one of the most uncertain categories of investments; as a result, a separate exam is set to test the eligibility of those who sell it.

The Series 3 examination has a testing duration of 150 minutes and consists of 2 parts. Part one has 85 questions and tests one's market knowledge. It also tests price limits, essential orders and accounts, calculations, margin requirements, and basic hedging. The second part, on the other hand, has 35 questions and it tests regulations. Some of the topics covered include CPO (commodity pool operator) or CTA (commodity trading advisor) regulations, different arbitration methods, and Commodity Exchange Act.

You should be knowledgeable and familiar with different regulations to pass. There are many detailed preparatory materials for this test online. To take the real test one has to pay $115 and be sponsored by a licensed Forex brokerage company. The multiple-choice exam is administered by the Financial Industry Regulatory Authority (FINRA) and can be taken any day at websites across the U.S. and internationally. The passing mark is 70% on both parts of the test.

In some cases, some people may not be allowed to sit for the Series 3 test but may be permitted to take other tests. Therefore, it is important to check for proficiency requirements on the NFA official website. Also, exceptions may be allowed for some brokers depending on the firm's business.


MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have solidified their positions as favored trading platforms in the realm of online currency trading. Introduced in 2005 by MetaQuotes Software, these MT4 brokers USA have become cornerstones of the trading industry, serving as go-to options for traders around the world.

Both MT4 and MT5 present an array of features that cater to traders' diverse needs. From access to real-time Forex prices and news feeds to comprehensive technical analysis tools and customizable charts, these platforms empower traders with essential insights and tools to navigate the complex Forex market.

Forex brokers in the USA who provide these platforms often extend their offerings, ensuring clients have access to a broader range of trading options. Those keen on MT5 can explore MT5 Forex brokers, while those inclined towards US Forex brokers MT4 can navigate the list of top MT4 Forex brokers to find brokers that align with their trading preferences.


Forex trading regulations in the United States of America are not the same as those enforced in many parts of the globe. These laws are quite stringent and this explains why few American Forex brokers are licensed by the NFA.

Some of the US Forex regulations that are different from those in other nations include:

- Leverage

- Hedging

- Ability to authenticate the broker


Forex is what it is today because of leverage; it allows traders with small amounts of capital to trade with more funds hence magnifying the profit or even loss. The regulatory agencies can, however, direct how much leverage is appropriate. The Dodd-Frank Act, 2010 regulations limited leverage to 50:1 on major currencies and 20:1 on minors. This was done to lessen the amount of risk taken by traders who don't understand the disadvantages when working with US Forex brokers with high leverage.


A trader has three options when operating a losing trade and one of them is hedging which is placing the order in the reverse direction. It is a very effective strategy that reduces losses. However, the US Forex trading regulations do not allow hedging. Instead, your previous order will be closed irrespective of your profits or losses, if you place a new order on the identical currency pair.

Ability to authenticate the broker

Since most brokers operate online platforms, they can claim to be under a certain regulatory authority even when they are not. All NFA members have a distinct license code that investors can use to cross-check with the agency's database. All US regulated Forex brokers are also members of the CFTC. If the broker is not present in either database, the firm is not allowed to handle US retail traders.

NFA also offers an outstanding online resource with profound information on brokerage scams, banned companies, penalties, and not forgetting essential information about U.S financial markets.

Other regulations revolve around deposit security and storage of clients' funds.


Is Forex for Beginners?

Forex can be for both advanced and beginner traders. It will depend on the knowledge you have and how you handle your emotions under stressful situations. Even if you are a beginner forex trader, you can start trading currencies after completing a learning curve.

What Are the Best Forex Brokers for US Clients?

This will depend on your needs, personal funds, and goals. There will be different trading accounts, fees, commissions, and platforms you must choose between. The top US forex brokers will always be regulated and will provide you with the best trading tools.

Is Forex Banned in the US?

No, it is not. Forex companies in the USA are regulated by the CFTC, the NFA, and the SEC to take care of the economy and public interest.

Can I Trade Forex as a US Citizen?

Yes, Citizens of the United States can trade forex. However, Forex brokers for US citizens must be regulated by the U.S. financial authorities.

Is MT4 Banned in the US?

The MetaTrader 4 platform was removed from the App Store in September 2022 along with the MetaTrader 5. The decision by Apple stemmed from concerns regarding automated trading robots called Expert Advisors (EAs) that US Forex brokers MT4 supports.

These EAs have the capability to execute trades without direct human involvement, potentially posing risks to market fairness and transparency especially if used with US Forex brokers with high leverage.

Traders can still trade on MT4 and MT5 desktop terminals or utilize the mobile application if they are an Android user.

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.