Best Forex Brokers in US

With the United States’s status as the world’s largest economy, coupled with a potentially healthy market supported by the country’s large population, one would imagine that there’s a long line of US forex brokers jostling to offer brokerage services to millions of eager traders.

One would be wrong. 

For one thing, traders in the US tend to gravitate more towards stock trading, often choosing to acquire shares over currencies. So, even though the New York session tends to have the most significant impact on currency rate fluctuations, the amount of US-based retail traders tends to be relatively small.

However, that’s not the most significant reason for the limited number of forex brokers in the United States. The biggest reason is that the trading environment in the US presents a series of unique challenges to brokers. The Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), both independent bodies, tightly regulate forex brokers in the United States, enforcing rigorous restrictions that include a limit on leverage provided.

The regulations also limit US citizens’ ability to trade with brokers that are not domiciled in the country unless they’ve been registered with the NFA.

These regulations were designed to provide more security for the investments of forex traders in the US. The downside is that there’s a shortage of brokers willing or able to provide brokerage services under these conditions.

In this article, we’ve examined the forex brokers in the USA and rated them based on the value and services they offer. We’ve also included the lowdown on the US forex regulations and how they are different from what obtains elsewhere.

Top US Forex Brokers in 2023

IC Markets – Best Overall

XM - Best for Beginners

HF Markets - Best for Professionals

Black Bull – Currency Trading

fpmarkets

FBS

FxPro

OANDA

Interactive Brokers – Most Trusted

  • Key information
  • Trading
  • Payment systems
  • Trading platforms
  • Trading instruments
  • Support
  • Trading accounts
  • Account settings
  • Spreads
  • Promotion
constructor
Filters
Add brokers for comparison
Rank Forex Broker Regulated Accounts Add to Comparison
1
AVATrade ASIC, CBI
Added
2
RoboForex IFSC
Added
3
EXNESS FCA, CySEC
Added
4
XM.COM ASIC, IFSC
Added
5
MultiBank Group ASIC
Added
6
IC Markets ASIC
Added
7
Capital.com ASIC, FCA
Added
8
Instaforex RAUFR
Added
9
Alpari IFSC, NAFD
Added
10
FXOpen ASIC, FCA
Added
11
Forex.com FSC
Added
12
Forex4you FSC
Added
13
LiteFinance -
Added
14
AMarkets FSA
Added
15
FxGlory -
Added
16
eToro ASIC, FCA
Added
17
Interactive Brokers FCA, CFTC
Added
18
Dukascopy Bank SA FINMA
Added
19
Markets.com CySEC
Added
20
GrandCapital -
Added
21
FBS IFSC, NAFD
Added
22
FreshForex KROUFR
Added
23
FxPro FCA, CySEC
Added
24
FIBO Group FSC, CNMV
Added
25
HotForex CySEC, FSC
Added
26
HYCM FCA
Added
27
OANDA ASIC, FCA
Added
28
Saxo Bank ASIC, FCA
Added
29
FXCM ASIC, FCA
Added
30
RoboMarkets CySEC
Added
31
Swissquote FINMA
Added
32
FXDD MFSA
Added
33
DeltaStock BNB
Added
34
ActivTrades FCA, CNMV
Added
35
Admiral Markets FCA, CNMV
Added
36
NordFX SEBI, VFSC
Added
37
BCS Forex FSA
Added
38
IFC Markets FSC, CySEC
Added
39
Dukascopy Europe FCMC
Added
40
Alfa-Forex CBR
Added
41
Orbex CySEC
Added
42
NPBFX IFSC
Added
43
Plus500 -