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6 Best Forex Brokers Accepting US Clients

 

Forex Brokers that accept USA clients

 

The Top 6 Best Forex Brokers Accepting US Clients revealed. We have rated and reviewed the best Forex Brokers that accept US Traders.

 

This is a complete listing of The 6 Best Forex Brokers Accepting US TradersIn this in-depth write-up you will learn:

 

  • Who is the Best Suited Forex Broker Accepting US Beginner Traders?
  • Pros and Cons of Forex Trading in the USA.
  • CFTC / NFA Regulated Brokers and how they work.
  • $ Costs of Trading Forex in the United States of America

 

 

and much, much more!

 

The Commodity Futures Trading Commission (CFTC) – a Definition

 

The Commodity Futures Trading Commission (CFTC) is an independent federal agency.  The CFTC is tasked with the regulatory oversite of the derivatives markets, including futures contracts, options, and swaps, in the United States.

 

 

6 Best Forex Brokers Accepting US Clients – a Comparison

 

🔎 Broker📝 CFTC / NFA Regulation🤝 Accepts US Traders💰 Min Deposit🚀 Open an Account
🥇 Ally Invest✅ Yes☑️ Yes$100 USD👉 Click Here
🥈 Forex.com☑️ Yes✅ Yes$1000 USD👉 Click Here
🥉 Interactive Brokers✅ Yes☑️ Yes$100 USD👉 Click Here
🏅 Oanda☑️ Yes✅ Yes$0 USD👉 Click Here
📌 TD Ameritrade✅ Yes☑️ Yes$2000 USD👉 Click Here
📌 IG☑️ Yes✅ Yes$200 USD👉 Click Here

 

 

 

 

6 Best Forex Brokers Accepting US Clients (2022)

 

  1. Ally Invest – Overall, the Best Broker accepting US Traders.
  2. Forex.comNFA Regulated Broker.
  3. Interactive BrokersCFTC Regulated Broker.
  4. Oanda – Low $ USD Minimum Deposit.
  5. TD Ameritrade – High US Trust Score.
  6. IG – Best Online Trading Experience.

 

 

Ally Invest Banner

 

Ally Invest

 

Overall, Ally Invest is considered a trustworthy US Stockbroker with average risk. Ally Invest is listed on the New York Stock Exchange and has a banking subsidiary, Ally Bank.

 

Ally Invest Overview

 

🔎 Broker🥇 Ally Invest
💰 Min. Balance$0 USD
📈 Cost Per Stock Trade$0 USD
📉 Cost per Options Trade$0.50 USD
🎉 Promotion✅ Yes
🔁 Transfer Fee$50 USD
💵 IRA Transfer Fee$50 USD
💳 IRA Closing Fee$25 USD
🚀 Open an Account👉 Click Here

 

Ally Invest Image

 

Ally Invest Pros and Cons

 

✅ Pros❌ Cons
No account minimum.No no-transaction-fee mutual funds.
Strong web-based platform.No branches.

 

Overall Rating

4.4/5

Rated #493 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FINRA

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Forex.com-Review

 

Forex.com

 

Overall, Forex.com can be summarised as a trustworthy broker with a reputable, well-established reputation that provides Contracts for Difference (CFDs), trading facilities on forex, user-friendly trading conditions, education materials, and research tools for a global market.

 

Forex.com Overview

 

🔎 Broker🥇 Forex.com
💰 Min. Deposit$100 USD
🔁 Spreads from0.1
🔽 Commissions✅ Yes
▶️ Forex Commission$5 USD per round lot
▶️ CFDs/DMA Commission$0.18 USD per share (US Stocks)
🛑 Inactivity Fee$15 monthly after 12 months
💳 Deposit FeeThird-Party
💳 Withdrawal FeeThird-Party
💻 Trading PlatformsMT4, MT5, Proprietary
🆓 Demo Account✅ Yes
☪️ Islamic Account❌ No
🚀 Open an Account👉 Click Here

 

Forex.com Landing Page

 

Forex.com Pros and Cons

 

✔️ Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 1999Not ASIC Regulated

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Interactive Brokers Review

 

Interactive Brokers

 

Overall, Interactive Brokers has a reputable reputation and offers traders user-friendly trading conditions. Interactive Brokers offers quality education material and research tools, Contracts for Difference (CFDs), and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.

 

Interactive Brokers Overview

 

🔎 Broker🥇Interactive Brokers
📝 RegulationCFTC, NFA, FCA
💰 Min. Deposit$0 USD
☪️ Islamic AccountNo
🆓 Demo Account✅ Yes
🤝 Managed Accounts☑️ Yes
🚀 Open an Account👉 Click Here

 

Interactive Brokers Landing Page

 

Interactive Brokers Pros and Cons

 

✅ Pros❌ Cons
Wide range of productsWithdrawals bank transfer only
Wide range of productsSuited to experienced investors
80+ exchangesCommission structure benefits high volume trades

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

OANDA Review

 

Oanda

 

Overall, Oanda can be summarised as a credible broker. Oanda is fully regulated thus making it a safe and trustworthy broker. OANDA is considered low-risk with a trust score of 91 out of 99.

 

Oanda Overview

 

🔎 Broker🥇 Oanda
📌 Tier-1 Licenses6
🎉 BonusNo
☪️ Islamic AccountNo
🆓 Demo Account✅ Yes
💰 Min Deposit$0 USD
📈 Inactivity Fee✅ Yes
📉 Withdrawal FeeNo
🚀 Open an Account👉 Click Here

 

Oanda Landing Page

 

Oanda Pros and Cons

 

✔️ Pros❌ Cons
Accepts U.S. clientsNo account protection for U.S. clients
Regulated by FCA and NFANo guaranteed stop losses for U.S. or U.K. clients

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

TD Ameritrade Banner

 

TD Ameritrade

 

Overall,  TD Ameritrade can be summarised as a trustworthy broker with $0 USD, R0 ZAR commissions on trades, enhanced trading platforms, top-line education, and an overall full-service brokerage experience.

 

TD Ameritrade Overview

 

🔎 Broker🥇 TD Ameritrade
💵 Minimum Deposit$0 USD
💳 Commissions$0 USD
💰 Options (per contract)$0.65 USD
💵 Inactivity Fee ChargeNo
💵 Withdrawal FeeNo
📌 Products offeredStock, ETF, Forex, Fund, Bond
📝 Demo Account☑️ Yes
🚀 Open an Account👉 Click Here

 

TD Ameritrade Landing Page

 

TD Ameritrade Pros and Cons

 

✅ Pros❌ Cons
Low trading feesUS markets Only
Excellent desktop trading platformNo credit/debit cards
Great customer supportMostly limited to US residents

 

Overall Rating

4.5/5

Rated #537 of
Recommended FX Brokers

💰Minimum Deposit

USD 2000

🌐 Regulators

SEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

IG_Reviewed and Rated

 

IG

 

Overall, IG can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs)
and low spreads on 70+ trading instruments. IG is regulated by two tier-1 regulators (highest trust)
and it has a trust score of 96 out of 100.

 

IG Overview

 

🔎 Broker✅ IG Group
💰 Trading Fee ClassHigh
💵 Inactivity Fee✔️ Yes
💳 Minimum Deposit$140 USD
💡 Base currencies6
✅ Demo Accounts✔️ Yes
📌 Products OfferedETF, Forex, Options
🔎 Open an Account👉 Click Here

 

IG Landing Page 3

 

IG Pros and Cons

 

✔️ Pros❌ Cons
Excellent Web-Trading PlatformHigh Forex and Stock CFD Fees
Excellent Educational ToolsLimited Product Portfolio
Great Deposit and Withdrawal optionsSlow Customer Support

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Conclusion

 

👉 Now it is your turn to participate:

 

➡️ Which US Regulated Forex Broker from this list do you intend to test out?

➡️ What was the determining factor in your decision to engage with a certain broker?

➡️ Was it because of the CFTC/NFA Regulation or the Pros and Cons?

 

👉 Regardless, please share your thoughts in the comments below.

 

 

Disclaimer

 

Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

 

 

Frequently Asked Questions

 

How many forex traders are currently active in the US?

According to our research more or less a quarter of the adults in the USA with access to the Internet are retail online traders and an additional 6% of the traders in the USA are professional traders. This translates to an equivalent of more than 54 million adult forex traders in the US.

 

Is forex trading legal in the United States?

Yes.  Forex Trading is 100% legal in the United States.

 

Who regulates Forex Trading in the US?

The Commodity Futures Trading Commission (CFTC) is the independent federal agency tasked with the regulatory authority of the derivatives markets, including futures contracts, options, and swaps, in the United States

 

Which is the most used forex broker in the US?

According to research, Oanda is the most popular broker choice amongst US Traders.

 

Can you make money with forex trading in the US?

Yes.  However, according to research, approximately 75% of all traders lose money due to a wide number of factors.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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