Top 5 US Forex Brokers

If you’re a US citizen trying to choose between different US Forex brokers, you’ve probably realized that your options are more limited than those available to international traders. US Forex brokers must be regulated by the NFA or CFTC, and are subject to stringent restrictions which are designed to protect US traders. NFA regulated brokers must limit their leverage to 50:1 and conform to rigorous record-keeping and reporting requirements.

Nevertheless, there are a handful of NFA regulated Forex brokers in the USA that offer reliable service and user-friendly platforms (there are also several US-based Forex brokers that operate within the country's borders without the necessary regulation).  We’ve tested the trading platforms, customer service and ease of use of the top US Forex brokers and recorded our findings to help you choose the NFA regulated broker.

If you're looking for a Forex broker outside of the United States, check out our Forex brokers reviews list to find the broker that's appropriate for you.

Broker's Name Minimum Deposit Deposit Bonus Type of Platform Maximum Leverage Regulation Rating More Info
FOREX $250 None MetaTrader 4, Proprietary platform 1:50 ASIC, FCA, NFA, CFTC, IIROC, FSA, SFC, SEC Accepts US clients
Accepts US clients

9.8/10
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OANDA $1 None MetaTrader 4, Proprietary platform 1:48 ASIC, FCA, NFA, CFTC, IIROC Accepts US clients
Accepts US clients

9.7/10
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Nadex $250 Free Holiday Bonus None None CFTC Accepts US clients
Accepts US clients

9.6/10
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4 eToro USA $50 $100 Proprietary platform 1:400 NFA, CFTC Accepts US clients
Accepts US clients

9.5/10
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5 Saxo Bank $10,000 None MetaTrader 4, Proprietary platform 1:200 FSA, Bank of Spain, MAS, SFBC

8.8/10
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US Forex Brokers

FOREX

FOREX.com is a currency trading website operated by Gain Capital Holdings, Inc., a financial services company that’s been in business since 1999. GAIN Capital is listed on The New York Stock Exchange (NYSE: GCAP). FOREX is a highly regulated Forex broker throughout Europe and Asia and has won rewards for the best research and analysis by FX Street for 2014 and 2015.

FOREX Review
OANDA

OANDA is a multi-faced financial services Forex and CFD broker and market maker. Founded in 1996, OANDA is based in New York and is available for traders in the U.S., Canada, Asia and Europe. OANDA was the first broker in 1995 to offer a broad range of currency exchange-rate information free of charge over the Web. Today, it possesses one of the world's largest and most accurate databases of currency rates, handling more than a million queries a day.

OANDA Review
Nadex

Nadex is a Chicago-based regulated derivatives exchange designed for the retail trader that offers only limited risk products. It is part of the IG Group, a global financial services provider with a market cap of over £2.2bn. Unlike many other binary options brokers, Nadex.com is available to U.S. citizens as it is based in the States and is a regulated US exchange, designated by the CFTC (Commodity Futures Trading Commission) and is legally permitted to accept US residents as members. At Nadex, traders have access to trade over 2,400 binary option contracts daily on some of the most popular financial markets including Forex, Stock indices, commodities and the popular crypto currency bitcoins.

Nadex Review
eToro USA

eToro USA is an American version of the famous eToro brand. eToro makes learning and mastering the necessary Forex trading skills a fun experience with a graphical and user friendly interface while offering a competitive platform for more experienced traders. eToro USA is an introducing broker of FX Solutions, enabling eToro to trade in the US without receiving NFA regulation while benefiting from eToro's famous game-like trading platform.

eToro USA Review
Saxo Bank
Saxo Bank
Saxo Bank

Saxo Bank, founded in 1992 and domiciled in Denmark, is one of the largest retail Forex brokers around and is one of the oldest ECNs available to both the retail client and institutional trader. Because it is a banking institution as well as a financial service provider, Saxo Bank is the most regulated Forex broker in the industry: Danish Financial Supervisory Authority, Banco de España, FSA, Monetary Authority of Singapore, Swiss Federal Banking Commission, Japanese Financial Services Agency.

Saxo Bank Review