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Best Forex Brokers with ITIN

Forex Brokers that accept an Individual Taxpayer Identification Number or ITIN for identification are brokerage firms that offer financial services to U.S residents plus accept their ITIN as a valid means of identification when opening a forex trading account. The requirement for the ITIN became compulsory decades ago and since this time, financial institutions have been required to accept ITIN as a means of identification. The acceptance of ITIN by forex brokers will offer a selection of benefits to both the forex broker and the forex trader and the government. In the case of the forex broker, their client’s details can be easily verified and in regards to the forex trader, the number of required documents needed for identification is dramatically reduced. Finally, the government will benefit by having a way to regulate all brokerage services.





Here is an overview of the 5 Best Forex Brokers and Trading Platforms accepting Individual Taxpayer Identification Number or ITIN for identification.




Forex.com is a platform which can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.


Pros and Cons


Pros Cons
Segregates client funds Doesn’t offer VPS
Established in 1999 Not ASIC Regulated
Regulated by Financial Conduct Authority  
Min. deposit from $50  



To open a live trading account, traders will need a minimum deposit of at least $50.


Trading Benefits


Trading Features Accounts offered Funding methods
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account  
Low min deposit ECN account  
  Islamic account  

Customer support is available by phone, live chat, or email 24 hours a day during market hours.




IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.


Pros and Cons


Pros Cons
Used by 178,000+ traders Inactivity Fee
Established in 1974 Limited range of instruments
Regulated by Financial Conduct Authority and ASIC  
Min. deposit from $250  



The country of a traders residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs and options.  Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.


Trading Benefits


Trading Features Accounts offered Funding methods
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account PayPal
Low min deposit   Payoneer
Guaranteed stop loss    



Customer Service is available 24/7 via Phone, Live Chat and Email.


Interactive Brokers


Interactive Brokers was founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC). Interactive Brokers offers many account types, which fall into two big groups:


  • accounts for individual traders and investors
  • accounts for institutions


Pros and Cons


Pros Cons
Low trading cost Pro users incur an account maintenance fee if multiple trades are not made
Invest globally in a multitude of products via a single account Not everyone is eligible to open an IBKR Lite account
No minimum balance required  
Tools to bring your trading to the next level  


Trading Benefits


Tradable Securities Accounts Offered Funding Methods
Stocks Lite Bank Transfer
Fractional Shares Pro  
Mutual Funds    



Traders can choose between two different web trading platforms:  The Client Portal and WebTrader and IBKR Mobile, Interactive Broker’s mobile trading platform, is available both for iOS and Android.  Users can trade on Stock, Forex, Option and Futures – to name but a few. Customer Service is available 24/7 via Live Chat, Phone and Email.




OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.


Pros and Cons


Pros Cons
Accepts U.S. clients No account protection for U.S. clients
Regulated by FCA and NFA No guaranteed stop losses for U.S. or U.K. clients
Well-designed platforms Traders cannot access cryptocurrencies or single-stock CFDs
Superior research offerings A lot of ancillary fees



OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities.


Trading Benefits


Trading Features Account Offered Funding Methods
Mobile Trading Standard Wire Transfer
Excellent Charting Tools Premium Credit/Debit
Educational Materials   PayPal



Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.


TD Ameritrade


TD Ameritrade is one of the largest online brokers to date, overseen by top-tier US regulators like the SEC and FINRA.


Pros and Cons


Pros Cons
Extensive research capabilities Credit/Debit Cards not available
Additional support channels  



TD Ameritrade offers investors a large array of account offerings, an extensive range of investment choices, educational resources, and diverse trading platforms. Tradable Securities include Stocks, Bonds, Mutual Funds and more.


Trading Benefits


Trading Features Accounts offered Funding methods
Mobile Trading Individual Bank Transfer
Managed Portfolios Joint  
Cash Management Business  
No min deposit Retirement  
Investment Options College Savings  
Tax Loss Harvesting Custodial  



Customer Service is available via Phone and Email.


In Conclusion –


The requirement for U.S citizens and residents to have an ITIN before they will be able to operate a trading account will be guided by law. The law is set by the government in order to fight tax evasion, money laundering and terrorism funding. The law is also set in order to keep accurate records and determine suitable investments. Forex Brokers will be required by this law to obtain personal information from registrants. Forex Brokers which are fully licensed to legally operate in the U.S will be required to go through a rigorous processes in order to obtain a license and are mandated to require U.S clients to provide their SSN (Social Security Number) or ITIN (Individual Taxpayer Identification Number) before live trading accounts may legally be opened. The ITIN is a primary form of identification in the U.S for all earners.  The ITIN is linked to virtually every information of each individual taxpayer and an individual can be instantly identified from his or her ITIN.




What is ITIN?

An Individual Taxpayer Identification Number refers to a United States tax processing number which is issued by the Internal Revenue Service.


Is a SSN and ITIN the same?

No.  A SSN or Social Security Number is for U.S. citizens and authorized noncitizen residents.


What are the Benefits of a Forex Broker accepting ITIN?

Two main benefits of choosing a Forex Broker who accepts ITIN includes the security of a investors funds and their account.


What are the drawbacks of choosing a Forex Broker who accepts ITIN?

Only US-based brokers and US exchange-listed financial products can be traded.


Are there a large selection of Forex Brokers accepting ITIN?

No.  Unfortunately, at this time, there are only a selected few Forex Brokers accepting ITIN.


Is it riskier to trade with an ITIN accepting Forex Broker?

All trading involves risk and investors should only risk capital they are prepared to lose.


In which country is a ITIN issued?

An ITIN (Individual Taxpayer Identification Number) is issued to citizens/residents of the United States of America.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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