If you prefer to trade manually, you can do so through eToro’s platform, which has TradingView’s advanced charting and decent social trading features. I think this is a decent tool for finding pockets of large pending orders. It’s highly effective in identifying hidden support and resistance levels across Trading.com’s 70+ forex pairs. One big advantage I found with these options is that you’re only risking the amount of money you paid to open the position. Your potential winnings are basically unlimited, but your maximum loss is capped.
The following list presents the advantages of the best Forex brokers for US clients:
TradingView is one of the best platforms available for more advanced traders, largely thanks to plenty of indicators and analysis tools. There are more than 400 indicators built into the platform, as well as more than 110 smart drawing tools. If you’re a beginner trader, start by focusing on the most common currency pairs. As you gain more experience, you can explore new markets to expand your trading.
When it comes to education, TD Ameritrade comes out on top, earning awards from StockBrokers.com for the past 7 years. Founded in 1974, IG has established itself as a leader in the online trading industry and now serves over 178,000 clients globally. In the US, IG is regulated by the National Futures Association and the Commodity Futures Trading Commission. Traders looking to prioritize research will appreciate the comprehensive array of third-party research, including both free and premium content. The company does, however, lack a full-featured research offering for forex.
Best for professionals – Interactive Brokers
Asset ownership is the main difference between trading spot forex and Forex CFD Trading. We recommend to Compare Forex Brokers first, and then consider your trading strategies, experience level, budget, and overall trading goals. To confirm whether or not a broker is licensed to offer forex services in the US, visit the NFA’s Background Affiliation Status Information Center website. You can search for brokers by name to check their affiliation, registration status and disciplinary history.
Some states, for instance, may mandate forex brokers to secure a banking license or register as a Money Services Business (MSB). The platform has reported impressive execution speeds and offers users access to some sophisticated charting tools. Users can pen up to 100 charts at a time with 21 timeframes and 80 technical analysis tools.
Can I Trade With An Offshore Broker?
On the downside, a steep inactivity fee is charged after 2 years of inactivity. All fees and costs are clearly outlined on IG’s fee section of the website. The company offers a variety of resources to help traders get off to an informed start and continue to grow through their demo account, tutorial videos, educational videos, webinars, and live sessions. Interactive Brokers (IBKR) should be a serious consideration for professional FX traders that need access to their account at all times. The company is headquartered in the U.S and boasts strong regulatory licenses.
NADEX’s trading fees are simple, as you pay fixed commissions instead of spreads. These commissions are $2 roundturn per binary option contract, which is cheaper than the traditional spot forex commission. You will have to pay a $1 settlement fee if you profit on your contact – you won’t pay this if your contract loses.
Trading Tools
- Charles Schwab’s range of more than 60,000 markets is the largest I found in the US.
- There’s also 24/7 support through live chat, but this won’t connect you to the Trade Desk.
- Forex broker is the regulatory approval status of the broker and its governing authority.
- You can trade with 50,000+ financial instruments across 150 markets – more than OANDA, Forex.com, Trading.com, and Tastyfx combined.
- You can search for brokers by name to check their affiliation, registration status and disciplinary history.
- OANDA limits American traders to forex only but offers a comprehensive selection of pairs to trade.
Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. Trading with an offshore broker comes with increased risk, as the CFTC protections do not apply.
CapitalCore
These include binary options, call spreads, and knock-out options, each offering its own way to speculate on forex pairs. FOREX.com provides a multi-asset experience, allowing you to trade over 2,500+ markets. These include spot forex pairs, as well as stocks or indices, commodities, and crypto futures. The broker supports the best collection of trading platforms I saw in the industry. You can trade on MT4, MT5, TradingView, and NinjaTrader, as well as Forex.com’s own platform.
The following list is several of the best forex brokers for U.S. clients. A trusted global brand, OANDA is one of the few forex brokers that can accept U.S. residents. It stands out for its reputation and quality market research (OANDA was Best in Class for Research in the ForexBrokers.com 2025 Annual Awards). Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. I added Nadex to my list as the broker offers an alternative (and simpler) way to speculate on forex through its options trading platform.
- Trading.com is the only regulated Forex broker to offer MT5 to American traders.
- Depth of Markets is a solid tool if you day trade, giving you a way to view the order flow of Trading.com’s liquidity provider.
- The company is also one of the longest-serving in the industry, with over 45 years under its belt, and regularly supports more than 313,000 clients around the world.
- For example, when your sell order isn’t behaving as expected, you can place a buy order for EUR/USD.
- These features help you find different chart patterns, and you can also gain access to the analysis of other traders through the social trading features.
- However, American traders and brokers must adhere to stricter regulations imposed by the CFTC than those imposed by regulators in other jurisdictions.
– A Good Broker For Trading Forex Options
If you’re out of the money when your binary option contract expires you’ll pay no settlement fee. Regardless of which account you choose you can trade a very diverse range of products whether this be spot or actual. With some 65 forex pairs, Charles Schwab’s US-based customers can spot-trade stocks, ETFs, cryptocurrencies, precious metals, indices and commodities. In terms of markets, you can trade more than 80 major, minor and exotic currency pairs, as well as unleveraged gold and silver.
I opened live accounts with each broker, and our experts at CompareForexBrokers have personally fact-checked all of the data in this Forex Brokers USA Review. In my tests, the broker with the most currency pairs was Interactive Brokers, with 117. You can join the broader conversation, or read other traders’ best us forex brokers analysis on the markets. Finding other traders through the search function is easy, so you can hone in on the markets you care about.
Can I trade forex without a broker?
With NADEX, you can trade binary options, knockouts and call spreads based on COMEX/NYMEX futures. The web-based Tastyfx platform requires no downloads, so you can access it from any device with a web browser. Powered by TradingView, OANDA’s proprietary platforms have all the tools a trader might want, including performance analytics, personalized watchlists and advanced charting options.
