US Forex Brokers

Do you live outside the USA? If so, the brokers listed below may not be regulated in your country. For our list of best internationally regulated brokers, see our global brokers list.

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.

Help me choose a broker
Help me choose a broker
Welcome to our "Help Me Choose A Broker" help desk. We are happy to provide all traders with this special service so that you can find the best Forex broker to meet your needs. All you have to do is fill in your trading information in the 3 easy steps below and we will connect you with the broker that is most compatible for you.


Please answer the following questions:

The advanced broker matching tool uses an algorithm to match the criteria you have selected as relevant to your trading with the most updated services provided by the long list of brokers we review. We’ve successfully matched hundreds of traders with the most appropriate brokers and we look forward to helping you as well.
Finding a Forex broker has never been so easy!
Thank you.
Your information has been successfully sent to us.
We will handle your request as soon as possible.
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US Forex Brokers

OANDA
OANDA
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
Coinbase

Coinbase Inc. is a digital currency wallet and platform where merchants and consumers alike can buy, sell, store, bill and pay with the range of the major modern digital crypto-currencies such as Bitcoin, Ethereum, and Litecoin, against 32 established national fiat currencies. Coinbase is based in San Francisco, California, U.S.A. and was founded in 2012. In January 2017, Coinbase obtained a “Bitlicense” from the New York State Department of Financial Services, which authorizes the company to provide virtual currency business operations in New York. Coinbase Inc. is a privately-owned company, and has raised over $117 million from investors to date. As of May 2017, it had more than 7.4 million registered users

Coinbase Review
FXCM

FXCM (Forex Capital Markets) was founded in 1999 in the U.S.A. and was an early pioneer of internet-based trading. FXCM was listed among the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row. The FXCM Group has headquarters in New York, with offices around the globe in places such as the U.K., France, Italy, and Australia. It is regulated and licensed in each of them. FXCM is also a publicly traded company on the Nasdaq Exchange, the major U.S. exchange listing the equity of large technology-based companies.

FXCM Review
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
Dukascopy
Dukascopy
Dukascopy

Dukascopy Bank is a Swiss online bank providing Internet based and mobile trading services with a focus on foreign exchange, bullion and binaries, banking and other financial services through innovative proprietary technological solutions. Dukascopy is one of the largest retail brokers on the planet. It is heavily regulated in several countries, including its home country, Switzerland and is one of the oldest ECNs available to the retail client. It offers institutional services as well. The company was founded on 2 November 2004 in Geneva, Switzerland where it has its headquarters. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.

Dukascopy Review
Zecco
Zecco
Zecco

A short overview of Zecco trading will quickly reveal support for Stocks, ETFs, Options, Mutual Funds, Bonds, Metals, and last but not least, Forex. Being that DailyForex is primarily a Forex site, this Zecco review will focus mainly on broker’s Forex offering. The Zecco Forex Trader Desktop enables the trader to choose from predefined layouts or to create and save personal layouts. The one downside of this platform is that it supports Windows XP or Vista exclusively, no Mac OS and no Windows 7.

Zecco Review
Markets

Markets.com is operated by Safecap Investments Limited, a Financial Services Company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 092/08 and by the Financial Services Board (FSB) in South Africa as an authorized Financial Services Provider under the no. 43906. Markets.com was the recipient of the London Investor Show Forex “Best Customer Service 2012” award, and the Global Banking Finance Review “Best Broker in Customer Service Europe 2012” award, in addition to numerous other awards over the past years.

Markets Review
AvaTrade

AvaTrade is among the top Forex brokers in the world with offices in New York, Dublin, Sydney, Milan, Tokyo and other locations. It is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union as well as by several other licensing bodies. AvaTrade’s features include, among other things, a choice of platforms, a demo account, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals.

AvaTrade Review
MahiFX
MahiFX
MahiFX

MahiFX, founded in 2012, is a Forex market maker with offices in Christchurch, New Zealand and London. The MahiFX trading platform was named the winner for 2013 Best Trading System at the 13th annual FStech Awards recognizing excellence and innovation in the field of information technology within the UK and EMEA financial services sector. MahiFX is regulated by ASIC. It is also the winner of the UK Forex Award 2014.

MahiFX Review
Tradeo
Tradeo
Tradeo

Tradeo is a social trading company that operates under the brand name UR Trade Fix, Ltd, a CySEC regulated company with license number 282/15. Founded in 2012, Tradeo is an STP broker that offers a host of social features. Tradeo combines social trading with an advanced, synergistic trading platform, making Tradeo’s SocialTrader one of the first platforms to fully integrate both social and trade execution within the same visual interface.

Tradeo Review

Forex Brokers Operating Under US Regulations

Do you live outside the United States of America? If so, the brokers listed below may not be regulated in your country, and even if they are, you have a much wider pool of potential to choose from. For our list of best brokers regulated outside the United States, see our global brokers list.

If you’re a United States citizen or even simply resident in the United States and trying to choose between different United States Forex brokers, you’ve probably realized that your options are more limited than those available to international traders. Since 2010, the Dodd-Frank Act has been the major source of law governing Forex within the United States, and its provisions were stringent enough to almost kill off the burgeoning American Forex industry. All Forex brokers able to offer their services within the United States, even including “introducing” Forex brokers, must secure registration as a retail foreign exchange dealer from the Commodity Futures Trading Commission (CFTC) and as a futures commission merchant from the National Futures Association (NFA). Regulated Forex brokerages in the United States are subject to very stringent restrictions which are (allegedly) designed to protect US traders, although many industry analysts suspect that such restrictions are more the result of intense lobbying by the options/futures/stock brokerage industry, which is a far bigger business there than Forex has ever been, and are designed primarily to protect the interests of that industry rather than the interest of aspiring retail Forex traders or investors. Interestingly, the Securities Exchange Commission (the SEC) has no jurisdiction over Forex in the United States as Forex currency pairs are not deemed to be a “security”.

An additional restriction placed upon U.S. Forex brokerages is that they aren’t allowed to offer CFDs (contracts for differences) as tradable products to their clients. Furthermore, NFA regulated brokers must limit their leverage to 50:1 and conform to rigorous record-keeping and reporting requirements. However, it is worth noting that 50:1 leverage is considerably higher than the maximum limit placed upon Forex / CFD brokerages in the European Union, which regulators have set at 30 to 1. Both maximums are higher leverage than any Forex trader should ever need to use anyway. Another well-known, tedious and frankly pointless restriction specific to the U.S. is an effective ban on hedging due to the FIFO (first in, first out) rule which stipulates that traders with multiple positions of the same size in the same asset must close a position opened earlier than a position opened later, as the rule’s title suggests. This may sound painful, but two reasonably straightforward work arounds are opening two different Forex brokerage accounts (it can be difficult to do this with the same broker) or always opening trade positions of slightly different sizes. The second option can be challenging to execute if you are not well capitalized. Despite these minor obstacles, there are a handful of Forex brokers in the United States successfully maintaining NFA regulation offering reliable services and user-friendly platforms (there are also several “offshore” Forex brokers operating outside the United States without American regulation, although most. brokerages outside the United States expressly refuse to accept U.S. persons as clients). We’ve tested the trading platforms, customer service and ease of use of the top U.S. Forex brokers and recorded our findings to help you choose an NFA-regulated brokerage.

Before you start making comparisons to make a selection, you might ask, what are the characteristics of Forex brokers regulated in the United States? They are primarily market-making brokers with few ECN / STP execution models available. Very few of them are well-known globally, and one or two of them are primarily futures brokers offering Forex as a sideline. At least one broker falling into this category requires clients to have a liquid net worth of at least a quarter of a million dollars in order to trade Forex even without using any leverage at all, and it is hard to see much sense in that when other asset classes are demonstrably far riskier. However, don’t worry, it is still entirely possible to find a good regulated Forex brokerage in the United States. If you're looking for a Forex / CFD broker outside of the United States, check out our Forex broker reviews list to find another broker that's appropriate for you.

Help me choose a broker
Help me choose a broker
Welcome to our "Help Me Choose A Broker" help desk. We are happy to provide all traders with this special service so that you can find the best Forex broker to meet your needs. All you have to do is fill in your trading information in the 3 easy steps below and we will connect you with the broker that is most compatible for you.


Please answer the following questions:

The advanced broker matching tool uses an algorithm to match the criteria you have selected as relevant to your trading with the most updated services provided by the long list of brokers we review. We’ve successfully matched hundreds of traders with the most appropriate brokers and we look forward to helping you as well.
Finding a Forex broker has never been so easy!
Thank you.
Your information has been successfully sent to us.
We will handle your request as soon as possible.
loading