We have ranked and reviewed some of the best forex brokers with offices in the US. Our comparison table of US FOREX brokers covers the key account features. These include tight pricing, financial security, regulation, range of markets, added value, and reviews. Forex trading carries a high level of risk and losses can exceed your deposits.
Best US Forex Brokers 2024
| Forex Broker | Forex Pairs | Minimum Deposit | GMG Rating | More Info |
|---|---|---|---|---|
 | 80 | $1 | See Platform | |
 | 100 | $2,000 | See Platform | |
 | 51 | $250 | See Platform |
Forex.com US Forex Trading
Forex.com US Forex Trading Review
Name: Forex.com US Forex Trading
Description: FOREX.com, is one of the largest forex brokers in the world and is now owned by NASDAQ listed institutional broker StoneX, Forex.com has been offering forex trading services to US residents since 2001, providing individuals and institutions with access to the foreign exchange market. Note: The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account.
Summary
A good choice for forex traders in the US who want added value through trading signals and post-trade analysis. It’s worth noting that spread-only & RAW Pricing are the available account types for clients based in the USA. Also, CFDs, Metals, Crypto CFDs & Stocks CFDs are not available for clients based in the USA.
Two of the key features that make forex.com stand out above other forex brokers are:
- SMARTSignals – proprietary automated forex trading signals
- Performance Analytics – post-trade history that helps traders improve their profitability
Pros
- Trading Signals
- Post Trade Analytics
- Forex Specialists
Cons
- Limited Market Range
- No DMA
-
Pricing
(4.5)
-
Market Access
(4)
-
Online Platform
(4)
-
Customer Service
(4)
-
Research & Analysis
(4)
Overall
4.1Interactive Brokers US Forex Trading
Interactive Brokers US Forex Trading Review
Name: Interactive Brokers US Forex Trading
Description: Interactive Brokers has been offering forex trading services in the US since their inception in 1978. As a pioneer in the industry, Interactive Brokers has established itself as a reputable and reliable broker for forex trading, offering competitive spreads, advanced trading platforms, and a wide range of currency pairs to trade. Over the years, Interactive Brokers has continued to enhance its forex trading offerings, incorporating advanced technology and features to meet the evolving needs of traders.
Summary
A great forex broker for those who want to trade on exchange currency contracts rather than spot FX.
IBKR US Address: Interactive Brokers LLC, One Pickwick Plaza, Greenwich, CT 06830, United
Pros
- Very low dealing fees
- Wide market range
- Direct market access
- Complex order types
Cons
- Customer services can be slow
-
Pricing
(4.5)
-
Market Access
(4.5)
-
Online Platform
(4.5)
-
Customer Service
(3)
-
Research & Analysis
(4)
Overall
4.1IG US Forex Trading
IG US Forex Trading Review
Name: IG US Forex Trading
Description: IG, a global provider of online trading services, started offering forex trading in America in 2019. Prior to 2019, IG primarily focused on providing trading services in other regions, including Europe, Asia, and Australia. However, in 2019, IG expanded its operations to include forex trading services for US residents, allowing American traders to access the forex market through their platform.
Summary
IG has a reputation for competitive spreads, a wide range of currency pairs, and advanced trading technology, IG has become a popular choice for forex traders in the United States.
IG US Address: IG, 200 W Jackson Blvd Suite 1450, Chicago, IL 60606, United States
Pros
- Wide market range
- Excellent liquidity
- Listed on the London Stock Exchange
Cons
- No DMA futures trading
-
Pricing
(4)
-
Market Access
(4)
-
Online Platform
(4)
-
Customer Service
(4.5)
-
Research & Analysis
(4)
Overall
4.1Other US Forex Brokers:
TD Ameritrade
TD Ameritrade (now part of Charles Schwab) offers forex trading services through its thinkorswim® platform. They provide access to numerous currency pairs and advanced trading tools, catering to both beginner and experienced traders.
Charles Schwab Futures and Forex LLC provides forex trading services with a focus on delivering a comprehensive trading experience. With availability for 23 hours a day from Sunday to Friday, traders can access the forex market at their convenience. The thinkorswim® platform, offered by Charles Schwab, provides world-class technology and innovative tools to support forex trading. Investors can enjoy commission-free trading, with costs reflected in the bid/ask spread. The platform offers extensive product access and allows trading of over 70 currency pairs. In addition, knowledgeable support is available through the trade desk associates, providing assistance to forex traders around the clock.
ETRADE
ETRADE provides access to various futures contracts, including currency futures. Currency futures are standardized contracts that represent a specified amount of a particular currency to be exchanged on a future date at a predetermined price.
Through ETRADE’s trading platform, you can explore and trade currency futures contracts, such as those based on major currency pairs like EUR/USD, GBP/USD, USD/JPY, and more. ETRADE offers a range of tools and resources to assist with currency futures trading, including real-time market data, advanced charting, and order execution capabilities.
It’s important to note that trading currency futures involves risks, and traders should have a good understanding of futures contracts and currency markets before engaging in trading activities. Additionally, E*TRADE may have specific requirements and fees associated with currency futures trading, so it’s advisable to review their website or contact their customer support for detailed information on their futures trading services.
TastyTrade
TastyTrade provide access to currency options, which are derivative contracts that give traders the right, but not the obligation, to buy or sell a specific currency at a predetermined price within a specified time period.
Through the tastytrade platform, you can explore and trade currency options on major currency pairs and potentially profit from changes in exchange rates. Tastytrade offers a range of options trading tools and resources to assist with currency options trading, including options analytics, risk management features, and educational content.
US Forex Broker FAQs:
Here are the answers to the most commonly asked questions by people searching for the best futures brokers in America.
Forex trading is speculating on the price of two different currencies relative to each other. The foreign exchange market is the most heavily traded asset class in the world. Anyone can trade forex through a forex broker and forex trading falls into two categories, high-risk short-term speculation and physical currency exchange.
Forex brokers make money from forex traders in three ways.
- Fees: This can either be the difference between the buy and sell price they offer their clients or commission on trade.
- Overnight financing: This is the amount forex brokers charge clients for holding positions overnight
- Unhedged positions: This is where a forex broker will not hedge a client trade in the underlying market
You can compare forex spreads and commissions that forex brokers charge in our US forex broker comparison table or click the button to view the specifics on the individual forex broker’s website. If you have a large forex trading account you should be able to negotiate lower fees.
The majority of forex brokers will offer (MT4 MetaTrader 4) as a trading platform alongside their own in-house developed platform or other third-party trading platforms.
Forex brokers like Interactive Brokers and IG in the comparison table on this page accept clients from the US. US regulations mean that Forex brokers outside of the US cannot accept US clients so if you are a US resident you need a forex broker that is regulated to accept customers from the US.
If you are based in the US you need the following to start forex trading:
- An account with a forex broker that accepts US clients (see the comparison table on this page)
- Funds to trade with (forex trading is very high risk so only trade with money you can afford to lose)
- An understanding of what moves currency prices (everything from economic indicators to political events moves forex prices)
Yes, if you are using a reputable and US-regulated forex broker, forex trading is a legitimate form of speculating on the financial markets.
