To navigate the forex market, choose a forex broker who complies with United States registration. The Commodity Futures Trading Commission CFTC has tight requirements that only selected brokers can operate in the United States. This guide focuses on those that fulfill both the CFTC and the National Futures Association (NFA).
Key factors to consider when choosing a forex broker that accepts us clients,
- Demo accounts allow you to practice trading without any financial risk.
- Select one trading platform that suits your trading style.
- Ensure that the broker provides dependable and quick assistance.
- Confirm conformity to CFTC and NFA guidelines.
- Check for account balance protection and fund segregation.
7 best forex brokers for us clients
When selecting a forex broker for us clients, significant aspects to consider are minimum deposit requirements, accessible currency pairings, and deposit/withdrawal options. Here is a quick review of several top forex brokers.
| Feature | Trading.com | IG Broker | Charles Schwab | ATC Broker | Interactive Broker | Oanda | Forex.com |
| Founded | 1997 | 1974 | 1971 | 2005 | 1978 | 1996 | 1999 |
| Minimum Deposit | $50 | $300 | $0 | $5,000 | $0 | $0 | $100 |
| Regulation | CFTC and NFA | CFTC, and NFA | CFTC, and NFA | CFTC | CFTC, and NFA | CFTC, and NFA | CFTC, and NFA |
| Currency Pairs | 70+ | 80+ | 65+ | 38+ | 70+ | 48+ | 80+ |
| Deposit & Withdrawal Methods | ACH and Bank wire | Debit Card, Credit Card, PayPal, Visa, MasterCard, Wire Transfer | Wire Transfer, Online Payment, Request Check | International Wires, Credit/Debit Cards, Skrill Wallet | ACH Transfer, Wire Bill Pay, Direct Deposit, IBKR Mobile Check Deposit | Debit/Credit Card, Bank Wire, Bank Transfer, Skrill, Neteller | Debit/Credit Card, Bank Wire, Bank Transfer, e-wallets, Skrill, Neteller |
| Customer Service | 24/5 Phone, Email, Live Chat | 24/7 Phone, Email, Live Chat | 24/7 Phone, Email, Secure Chat | 24/7 Phone, Secure Chat, Email | 24/5 Phone, Email, Live Chat | 24/5 Phone, Email, Live Chat | 24/5 Phone, Email, Live Chat |
Account types, trading platforms, and fees
These brokers provide several account kinds and trading platforms, each with costs geared to US traders. Consider these characteristics when selecting the best-regulated forex brokers.
| Aspect | Trading.com | IG Broker | Charles Schwab | ATC Broker | Interactive Broker | Oanda | Forex.com |
| Account Types | T1 Forex account | Demo, Standard, Limited Risk, Spread Betting, Options, Turbo24, Share Dealing, Professional, Select | Brokerage & Trading, IRAs, Financial Goals, Education & Custodial, Retirement, Small Business | Demo, Joint, Individual, Corporate | Individual, Professional, Institutional, Small Business | Demo, Standard, Elite | Demo, MetaTrader, RAW Spread, Standard |
| Trading Platforms | MT5 WebTrader, Proprietary app | IG’s web-based platform, iOS/Android Apps, ProRealTime, MetaTrader 4 (MT4) | Thinkorswim mobile, desktop, web; schwab.com, Schwab mobile app | MT4, MT4 Pro | IBKR Trader Workstation (TWS), Client Portal, Desktop, Mobile, Global Trader | MetaTrader 4, Mobile, Web, MetaTrader 5 | Mobile App, Web Trader, MetaTrader 5 |
| Fees & Commissions | Rollover fees, Bank wire – $13 | Spread 0.60 pips to 0.90 pips. The commission is $0.00 to $6.00 per 1.0 standard round lot. Total fees are $6.00 to $9.00 per 1.0 standard round lot | Commission-free costs are reflected in the bid/ask spread. | Wire transfer fee: £25.00, $30.00, or €40.00 | Commission 00002 Trading Currency Value | Spread starts 0.9 minimum 1.4 pips + 0.4 pips | EUR/USD as low as 1.0 Fixed $5 per $100k USD traded on FX |
Major Forex trading hours
Understanding the major forex trading sessions is critical for maximizing your trades.
| Session | Start Time (ET) | Characteristics | Key Currency Pairs |
| Sydney /Tokyo | 19:00 ET | Thin liquidity, Asia Pacific focus | USDJPY, AUDUSD |
| London | 03:00 ET | High activity, lower costs, greater volatility | GBP pairs, EUR pairs |
| New York | 08:00 ET | High liquidity, overlaps with London | USD pairs |
Conclusion
When selecting a forex broker that accepts US clients, examine regulatory compliance, platform appropriateness, fee structures, and current economic situations. The brokers featured here are among the top in the industry, with a variety of features to suit the demands of different traders.
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