The United States forex market is distinctive, primarily due to its stringent regulations that set it apart from the majority of global forex markets. More specifically, the forex regulations in the U.S. are among the world's most rigid, aimed at protecting investors' interests. Brokers must meet high operational capital requirements set by U.S. financial authorities. Besides, the implementation of FIFO (First in, First out) and restrictions on hedging also set constraints on trading practices employed by brokers, affecting their profitability. Therefore, measures narrow the choice of forex brokers for U.S. traders, and thus very few brokers choose to open to traders from the U.S. Luckily, we still have several reputable and trusted forex brokers that accept US clients there. Here we will explore why they are on the list and undertake an in-depth study then, thus providing useful guidance for traders in the U.S.
Comparison of the Best Forex Brokers Accepting US Traders
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
Open account
Details
Compare
Best Forex Brokers Accepting US Traders Overall
| Brokers | Logos | Why are they listed as the Best Forex Brokers Accepting US Clients? |
| Forex.com |  |
✅ Regulated by top-tier authorities like FCA, ASIC, ensuring a high level of security for U.S. traders. ✅ Offering over 80 currency pairs with competitive fees, which provides U.S. traders with vast opportunities in the forex market. ✅ Advanced platforms offered , including its proprietary platform and MetaTrader 4, coupled with sophisticated features, advanced charting, and customization options geared for both new and experienced traders. |
| OANDA |  |
✅ Globally and heavily regulatory oversight by multiple agencies, including FCA, ASIC, and more, adding an extra layer of security for traders in the U.S. ✅ Unique Trader Workstation (TWS) platform, known for its modern charting capabilities, tools, and features. ✅ Interactive Brokers allows direct access to more than 135 markets in over 33 countries, a key advantage for those looking to trade on international markets. |
| IG |  |
✅ A well-trusted broker, operating for over 50 years, featuring a solid reputation around the world. ✅ Offering ProRealTime platform with automated trading capabilities, and L2 Dealer for Direct Market Access (DMA) trading, beneficial for professional level trading. ✅ IG has a large online community forum where traders can participate, learn from others, and share trading experiences and methods. |
| InteractiveBrokers |  |
✅ A trusted broker, with 46 year's developement, this broker has won a solid repuation globally. ✅Well-known for its Trader Workstation (TWS), which provides a plethora of tools and features suitable for both beginner and expert traders. ✅ Interactive Brokers often leads the industry with the lowest margin rates. It offers tiered pricing, which can result in substantial savings for high volume traders. |
Overview of the Best Forex Brokers Accepting US Traders
Forex.com
 |
|
Broker |
Forex.com |
Registered Country |
United States |
Regulated by |
ASIC, FCA, FSA, NFA, IIROC, CIMA, MAS |
Min. Deposit |
$100 |
Max. Leverage |
50:1 |
Trable Instruments |
Forex, Stocks, Futures, Future Options |
Trading Platforms |
Forex.com Mobile app, webtrader, MT5, MT4, MT5 EA, MT5 VPS |
Trading costs |
With Raw-pricing account, spreads from 0.0 pips, with commissions at $7 per lot. |
Demo Trading |
✅ |
Copy Trading |
✅ |
Bonus |
❌ |
Payment Methods |
Credit Card, Debit Card, Skrill and Neteller e-wallets and Wire Transfer |
Customer Support |
5/24 |
Established in 1999, Forex.com has long stood as a major player in the field of online forex trading. Registered in the U.S. and compliant with the gloabl regulations. Forex.com provides trading services for a broad range of financial instruments, including forex, indices, shares, commodities, and cryptocurrencies. It supports multiple trading platforms, such as proprietary Forex.com mobile trading, webtrader, and the widely revered MetaTrader 4,MetaTrader 5 and tradingview. Beginners and seasoned traders alike appreciate the accessible entry point with a minimum deposit of only $100. 7/24 localized customer support ensures traders can receive timely assistance when required.
Forex.com is suitable for U.S. traders. Complying with U.S. regulations, it is registered with the National Futures Association (NFA), making it a secure choice for U.S. clients. Forex.com's user-friendly platforms, low minimum deposit, and an extensive range of tradable assets make it appealing to traders of all experience levels. Yet, regulatory constraints limit the leverage available to U.S. clients ( up to 1:50) . Despite this, Forex.com's 24/7 customer support and solid educational resources make it an excellent option for U.S. traders.
✅ Where Forex.com shines:
• Forex.com offers vast financial assets to trade, including forex, commodities, indices, shares, and cryptocurrencies, partically, over 80 currency pairs for US traders.
• Supporting several major platforms which are industry respected, including its proprietary trading paltforms MetaTrader 4, MetaTrader 5, as well as tradingview.
• Demo accounts funded with $50,000 virtual funds, which can give beginners double confidence.
• A minimum deposit of just $100, Forex.com makes it easy for beginners to get started.
• Offering copy trading solutions, allowing beginners to copy trading strategies of successful traders.
❌Where Forex.com shorts:
• Due to regulatory constraints, the leverage offered by Forex.com for U.S. clients is less than whats offered to international clients.
• While they do offer a variety of payment options, some methods might be subject to additional fees.
• Forex.com applies an inactivity fee to accounts that have been dormant for over a year.
• For US traders, only currency pairs can be traded, limited product portfolios for them.
• No 7/24 customer support available, which may be a big challenge for traders who are actively on weekends.
OANDA
 |
|
Broker |
OANDA |
Registered Country |
Australia |
Regulated by |
ASIC, FCA, FSA, NFA, IIROC, MAS |
Min. Deposit |
$0 |
Max. Leverage |
1:200 |
Trable Instruments |
CFDs on Forex, Indices, Commodities, Cryptocurrencies, Bonds |
Trading Platforms |
OANDA Mobile, OANDA Web, MT4, Tradingview |
Trading costs |
Spreads from 0.0 pips, with commissions at $50 per million |
Demo Trading |
✅ |
Copy Trading |
✅ |
Bonus |
✅ |
Payment Methods |
VISA, MasterCard, Wire Transfer, ACH |
Customer Support |
5/24 |
Founded in 1995, OANDA has entrenched its reputation as a leading forex brokerage. Registered in the U.S., it adheres to regulations laid out by multiple reputable regulators, providing a secure trading environment. Offering a broad array of financial instruments, OANDA caters to forex, commodities, indices, bonds, and precious metals trading. The broker offers renowned platforms such as OANDA mobile and web, MetaTrader 4, which are recognized for their user-friendly interfaces and comprehensive toolsets. Notably, OANDA has no minimum deposit, highly accessible for beginners in the U.S. Aside from competitive leverage options, it also provides a 24/7 customer support service. One of OANDA's standout features is its proprietary technology and strong commitment to innovation.
✅ Where OANDA shines:
• Heavily regulated, especially strictly regulated in the U.S, giving beginners there more trading confidence.
• Multiple trading platforms, including its OANDA mobile, OANDA web, MetaTrader4, Tradingview for beginners to choose.
• Over 70 currency pairs, with spreads on the eur/usd pair from 0.6 pips, competitive fees extremely friendly to beginners.
• $0 to start real trading, making it easily accessible for beginners to enter the international markets.
❌Where OANDA shorts:
• Unlike some of its competitors, OANDA doesn't offer trading in digital currencies such as Bitcoin and Ethereum.
• Traders need to be aware that OANDA charges an inactivity fee for accounts dormant for a certain period.
• Some users have reported slower-than-average withdrawal times. But this can vary based on factors like the withdrawal method chosen.
IG
 |
|
Broker |
IG |
Registered Country |
United Kingdom |
| Regulated by | ASIC, FCA, FSA, NFA, AMF, FMA, MAS, DFSA |
Min. Deposit |
$0 |
Max. Leverage |
50:1 |
Trable Instruments |
Forex, Shares, Indices, Commodities, Options, Futures, Spot trading, Cryptocurrencies, and more |
Trading Platforms |
Trading Charts, Trading Alerts, MT4, ProRealTime, Automated Trading |
Trading costs |
Spreads from 0.6 points on key FX pairs, 0.8 points on major indices, and 0.1 points on commodities |
Demo Trading |
✅ |
Copy Trading |
✅ |
Bonus |
❌ |
Payment Methods |
Debit Card, Wire Transfer, Bank Transfer (Automated Clearing House (ACH)) |
Customer Support |
5/24 |
Founded in 1974, IG has solidified its presence as a top-tier international forex and CFD brokerage. Headquartered in the United Kingdom, IG is globally regulated, providing access to extensive markets, including forex, indices, shares, commodities, cryptocurrencies, and more. The broker is technology-supported, leveraging innovative platforms such as IG platform, both recognized for their robust features and user-friendly interfaces. IG enforces a minimum deposit of $250, affordable for most traders. 24-hour customer support Monday-Friday ensures any client's queries are resolved promptly. IG's primary strengths lie in its extensive market access, proprietary innovative technology, and strict regulatory adherence, although it shines less in its comparatively lower leverage for some instruments and the levying of inactivity fees.
✅ Where IG shines:
• A well-established forex broker that has operated for 30 years, globally and heavily regulated.
• IG allows for both scalping and hedging, techniques favored by many experienced traders.
• IG's large global footprint offers traders exposure to markets worldwide.
• IG offers a free demo account that allows new traders to practice strategies and get used to the platform before real trading.
• For seasoned traders, IG offers professional accounts which come with greater leverage but require a certain level of trading activity and financial portfolio size.
❌Where IG shorts:
• A fee of $12 will be charged if there is no trading within 24 consecutive months.
• IG trading platforms may be complex, not that user-friendly, for beginners traders.
• Although IG provides customer support 24 hours from Monday to Friday, the absence of weekend support can be a disadvantage for clients who prefer trading over the weekend.
• $250 maybe unfriendly to some traders, especially beginners.
InteractiveBrokers
 |
|
Broker |
InteractiveBrokers |
Registered Country |
United States |
Regulated by |
ASIC, FCA, FSA |
Min. Deposit |
$250 |
Max. Leverage |
50:1 |
Trable Instruments |
stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds |
Trading Platforms |
Desktop TWS, IB WebTrader, IBKR Mobile app |
Trading costs |
Stock fees: $0, 0035Fractional Shares: $1Options Fees: $0.03ETFs Fees: $0,0035 |
Demo Trading |
✅ |
Copy Trading |
✅ |
Bonus |
❌ |
Payment Methods |
Bank Transfer, FPS, eDDA |
Customer Support |
5/24 |
Founded in 1977, InteractiveBrokers is a well-established, globally regulated brokerage based in the United States. On the InteractiveBrokers platform, traders can avail themselves of a large selection of financial instruments spanning stocks, options, futures, forex, bonds, and funds worldwide from a single account. Clients-oriented trading platforms are at the core of Interactive Brokers' offerings, particularly its flagship Trader Workstation (TWS) that boasts advanced features and interactive charting. Interactive Brokers provides 24/5 customer support, handling inquiries in multiple languages, making it easy for global clients to receive assistance whenever required.
✅ Where InteractiveBrokers shines:
• Operating under strong regulations, InteractiveBrokers is a well-trusted broker that won global traders' recognition.
• Especially for active traders, Interactive Brokers offers competitive fees, offering lower costs the more you trade, which can result in significant savings over time.
• With stocks, options, futures, forex, bonds, and funds available in a single integrated account, Interactive Brokers operating on a simple trading model.
❌Where InteractiveBrokers shorts:
• The advanced and complex nature of the TWS platform may prove difficult for beginners to navigate.
• Interactive Brokers requires a minimum level of trading activity each month, which can put off casual traders and investors.
• While customer service is available 24/5, some users have reported slower response times and a lack of immediate assistance.
• Limited payment options supported, making it inconvenient for traders in certain countries.
Forex Trading Knowledge Questions and Answers
Why do most forex brokers not accept US clients?
Most Forex brokers exclude U.S. traders due to the stringent regulations set by U.S. regulatory bodies, such as the CFTC and NFA. These mandates, including operational capital requirements and compliance with trading restrictions, impose significant obligations on brokers, leading many to opt out of accepting U.S. clients.
How can I verify if a broker accepts US clients?
You can verify if a forex broker accepts U.S. clients by checking their website or contacting their customer service. Most brokers explicitly state on their website the countries they service. Brokers that service U.S clients must be registered with the U.S Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA).
What is the best forex broker for US beginner traders ?
Forex.com, clearly. It welcomes beginners with a low entry bar, requiring a mere $100 as a starting deposit. Its vast trading platform options, MT4, MT5, Forex.com mobile app, Forex.com webtrader, Tradingview, are not just user-friendly but are also well-regarded among the trading industry. Besides, the learning curve for beginners is well-supported with an extensive educational content and the opportunity to play around using demo accounts equipped with $50,000. Clients highly appreciate the convenient and prompt deposits and withdrawals that Forex.com offers. Further, the platform's localized customer support is noted for being quick, professional and service-oriented. All said and done, Forex.com provides a truly well-rounded and conducive platform for beginner traders in the U.S.
Can US clients trade with forex brokers overseas?
Yes, it is technically possible for U.S. Clients to trade with overseas Forex brokers. However, caution needs to be exercised as foreign brokers who are not registered with U.S. regulatory authorities like the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC) may not provide the same level of procedural transparency and investor protection.
What payment methods do most US forex brokers accept?
Most US forex brokers support various convenient payment methods that allow traders to easily fund trading accounts, including wire transfers, debit/credit cards, e-wallets, and ACH payments.
Wire transfers directly from a US bank account are commonly accepted, providing a secure transfer mechanism to deposit larger sums, though banks typically charge fees for outbound wires. Major debit and credit card networks like Visa, Mastercard, and American Express can be used to deposit funds up to broker limits, offering a quick and simple funding option.
E-wallet services like PayPal, Skrill, and Neteller have grown popular for depositing to forex brokers due to their speed and global accessibility. Transferring from the e-wallet balance is almost instant with little hassle.
ACH payments allow pushing funds from a connected US bank account using automated clearing house transfer. This method is cost-efficient but takes 2-4 days for deposits to reflect.
By supporting various convenient payment methods familiar to clients, US forex brokers facilitate easy onboarding and quick account funding so traders can access live markets without delays in bank transfers or overseas remittance hassles.
About WikiFX
On WikiFX.com, our evaluations of online forex brokers, along with their offerings and services, are derived from the data we've gathered and the informed insights and professional perspectives of our expert researchers.
We conduct a thorough review of each broker's regulatory compliance, commission rates and charges, minimum deposit needs, leverage availability, performance of the trading platform, and the speed of withdrawal processes. Through our technologically-backed assistance, we strive to ensure you have a solid understanding of these aspects.
We sincerely maintain an updated leaderboard of top brokers and offer extensive forex guides. With a catalog of over 50,000 brokers regulated by 30+ authorities,boosting confidence and simplifies trading experiences for your forex journey.
Disclaimer: All information published in this article is intended for informational purposes only, and it should not be considered as individual recommendations.
You Also Like:
Best Forex Brokers in Turkey for 2024
Review top 9 forex brokers in Turkey, elevating their trading pros and cons to give traders more useful guidance.
Best Forex Brokers for Beginners in the United Arab Emirates for 2024
Select the top forex brokers for beginners in UAE from the many available to ensure a safe trading environment.
Best Swiss Forex Brokers for 2024
Explore top 10 forex brokers in Switzerland, elevating their trading pros and cons to give traders more useful guidance.
Best Stock Brokers in the US for 2024
When choosing an online broker, finding the platform that best fits your investment needs is crucial. With the rise in popularity of online trading, more brokers are offering free stock trading and commission-free transactions for various assets. It has become a challenge for users to select suitable brokers.
Best CySEC Regulated Forex Brokers 2024
Delving into CySEC-regulated forex trading, this article presents a top 9 list of brokers, spotlighting the benefits of regulatory compliance.
8 Best Forex Trustworthy Brokers in 2024
Stay informed and avoid forex scams with our list of 8 Top Trustworthy Brokers – trade with peace of mind and profitable potential.
Best Forex Brokers for Beginners in the United Arab Emirates for 2024
Select the top forex brokers for beginners in UAE from the many available to ensure a safe trading environment.
Best Forex Brokers in 2024
Guide to the most trusted Forex brokers, with a thorough investigation into their quality, security measures, and financial transparency.
