Best Forex Brokers in USA
The United States has a tier 1 regulation (CFTC) and a secure trading environment. Like EU regulations, there is a limit on maximum leverage (1:50), segregated trader funds, and investor protection. If you are an American trader, the following 10 brokers are worth checking out.
SpovaBonusTrading Credit Bonus Scheme by Spova
Extensive Educational ResourcesMin deposit $250Max leverage 1:400Regulated by NoAdd to compare list4.1 / 5Start tradingPros, cons & fees
High Leverage Trading: Spova offers a high leverage of 1:400, much higher than what many brokers offer.
24/7 Multilingual and Multichannel Support: Spova offers customer service via calls, live chat, and emails 24/7 in 10+ languages.
Proprietary Trading Platform: The company offers its proprietary WebTrader platform that you can access straight from browser and stay on top of your trades from anywhere.
Offshore Regulation: Spova has an offshore regulation, which means the company lacks advanced security features and strict oversight.
Limited Availability: Spova does not accept clients from the US, EU, GCC, and the UK.
No MT4 or MT5 Trading Platform: The company lacks MT4 and MT5 platforms.
IG
Investor protectionBonusRefer a Friend Reward by IGFCA RegulatedMin deposit $250Max leverage 1:200Regulated by FCA, ASIC, MASAdd to compare list4.1 / 5Start tradingPros, cons & fees
Competitive Spreads: IG offers some of the most competitive spreads in the industry, especially for major forex pairs.
Wide Range of Assets: IG offers a wide range of assets, including forex, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.
Regulated Broker: IG is regulated by several reputable authorities, including the FCA and ASIC, providing traders with security and trust.
Limited Payment Options: IG offers limited payment options, which may be inconvenient for some traders.
Inactivity Fee: IG charges an inactivity fee of £12 per month if there is no trading activity for two years or more, which may deter some traders.
No Social Trading: IG does not offer social Trading, which may be a disadvantage for traders who prefer to follow and copy the trades of successful traders.
Pros, cons & fees
Extensive range of tradable instruments: With over 160 CFD instruments available, including stocks, forex, indices, commodities, metals, and cryptocurrencies, traders have ample options to diversify their investment portfolio.
Commission-free trading: There are no commissions on standard trades as the broker earns from spreads, which are also very competitive (starting ~0.9 pips). This transparent fee model means lower and straightforward costs for traders.
24/7 Multilingual Customer Support: Customer support is accessible 24/7 in four languages to help traders access support in their preferred language.
Offshore Regulation: Savexa is regulated in Mwali (Comoros) instead of a tier-1 regulatory jurisdiction. The broker is offshore regulated which means the investors do not get the tier-1 investor protection features.
Lack of MetaTrader Platforms: Savexa does not offer the popular MetaTrader 4 or 5. Many seasoned brokers prefer using MetaTrader for their trades instead of WebTrader.
Limited Advanced Strategies: The broker does not allow advanced strategies like scalping and arbitrage trading. Lack of MetaTrader further means copy trading and auto trading are absent as well.
Trading.comBonus$100 no-deposit bonus0-Pip EUR/USD SpreadsMin deposit $5Max leverage 1:30Regulated by FCA, CFTC, NFAAdd to compare list3.9 / 5Start tradingPros, cons & fees
Trading.com stands out for its competitive spreads, allowing traders to access markets at favorable pricing.
The platform offers user-friendly trading platforms, notably the MetaTrader 5 terminal, facilitating a smooth trading experience.
Traders can access a decent array of tradable instruments, including Forex, stocks, commodities, indices, metals, and energies.
Trading.com's trading platform options are limited, offering only the MetaTrader 5 (MT5) platform for traders.
The platform's educational resources are relatively limited, potentially leaving traders seeking more comprehensive learning materials.
Trading.com is exclusively available to clients within the United Kingdom, limiting its accessibility to a global audience.
Pros, cons & fees
Thorough Regulation and License: markets.com is licensed and regulated by 5 reputable watchdogs. This further strengthens the broker's credibility as a financial service provider.
Markets.com is not your regular broker, with its blend and IPO offerings. These additional offerings put the broker in a league of its own.
Sleek Proprietary Trading Platform: Besides its MT4 and MT5 trading platforms, the broker has its own customized trading platforms, which excel in every regard as the more popular trading platforms.
Inactivity Charges: Traders must pay a fee of $10 per month after 90 days of no trading inactivity on markets.com.
No Customer Support Service on Weekends: Since trading is 24/7, it's only ideal that the customer support service is also available 24/7 so clients can resolve their complaints quickly.
Interactive BrokersBonusRefer a Friend Program by Interactive BrokersBest For Day TradersRegulated by FCA, CFTC, NFA +1Add to compare list3.9 / 5Start tradingPros, cons & fees
Unparalleled Market Access
Competitive Pricing
Advanced Trading Tools
Steep Learning Curve
Customer Service Could Be Better
AMP Global Investor protectionUp To €20,000 Investor ProtectionMin deposit $100Max leverage 1:500Regulated by CySECAdd to compare list3.8 / 5Start tradingPros, cons & fees
AMP Global offers diverse tradable instruments, including forex, exchange-traded futures, metals, energies, indices, stocks, and crypto CFDs. This allows traders to diversify their portfolios and exploit various market opportunities.
Including the Investor Compensation Fund is a notable advantage for clients trading under the CySEC-regulated entity. This fund offers insurance per client up to 20,000 EUR, providing additional protection for client funds.
AMP Global offers various account funding methods, including bank wire transfers, credit/debit cards, and e-wallet services. This provides flexibility and convenience for clients when depositing and withdrawing funds.
The registration requirements to open a new AMP Global live account may be considered complex, involving multiple steps and providing various declarations. This might be a drawback for traders seeking a more straightforward account opening process.
Traders do not have the liberty to pick which trading platform they wish to use since AMP GLOBAL only offers the MT5 trading platform. This means there is no proprietary platform, the MT4 or the cTrader platforms.
AMP GLOBAL forex brokerage offers only one account type for all its clients. This effectively means users have no choice of picking account types that suit their trading needs.
Pros, cons & fees
Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring compliance with industry standards.
Offers multiple channels for contacting support, enhancing accessibility and responsiveness.
Provides round-the-clock customer support, accommodating traders across different time zones.
There is an absence of MT4 or MT5 platforms, which need to include features and functionalities preferred by many traders.
Offers a less extensive list of tradable assets than some competitors, limiting investment opportunities.
Withdrawal times can be lengthy, potentially causing inconvenience for traders requiring prompt access to funds.
Pros, cons & fees
The broker provides a personalized Web Trading Platform, enhancing the user experience and catering to individual trading preferences.
Traders benefit from daily trading signals, helping them stay informed about market trends and potential trading opportunities.
Negative Balance Protection ensures that traders do not lose more than their initial investment, safeguarding against excessive losses.
The broker provides limited educational and research tools, which may hinder traders' ability to expand their knowledge and make informed trading decisions.
ModMount does not offer MT4, MT5, or algorithmic trading options, limiting the choices available to traders who prefer these platforms.
Traders may incur a inactivity fee if their account remains dormant for an extended period, potentially impacting their account balance.
Pros, cons & fees
Offers multiple account types to cater to different trading preferences.
Implements negative balance protection, safeguarding traders from losses exceeding their account balance.
Provides an excellent range of instruments, including Forex, indices, metals, stocks, cryptocurrencies, and commodities.
Restricted regional availability may limit access for traders from certain regions.
The lack of MT4 and MT5 trading platforms may disappoint traders accustomed to these popular platforms.
According to few reviews, the withdrawal process can be lengthy, taking 8-10 business days, which may inconvenience traders needing prompt access to their funds.
Our ranking methodology and selection process