Best Forex Broker in USA 2022: Top US Forex Brokers List

The foreign exchange market, also known as the Forex market or the FX market, is also one of the global markets that witnesses a trading volume of almost $6.6 trillion every day. Foreign exchange refers to exchanging one currency trading with another for different reasons that include tourism, international exchanges, trading and investment, and commerce. The national currencies are traded against each other in exchange rate pairs.

For instance, the EUR/USD is a pair of currencies that refers to the forex trading of the Euro against the US Dollar similarly EUR/GBP is against the pound. The foreign exchange markets exist in spot markets, currency swaps, options, bitcoin futures, derivatives markets, and a well rounded offering range. Most forex participants use the foreign exchange system to hedge against interest rate risks and international currencies, diversify their portfolios, and speculate on geopolitical events.

About US Forex Brokers

The U.S clients of the best forex brokers in the USA include experienced retail currency traders who employ the forex platform for speculating the currency trading exchange rate patterns and choosing the best broker for forex trading in the US.

Many forex brokers accepting clients from the US also include financial service companies that conduct FX trading on behalf of individual customers and investment banks. Best broker forex companies contributes nominally to the daily trading volume of the forex market, like many forex companies in USA.

The best forex broker in USA deals with the currencies of ten countries members of the G10 group. A good forex broker offers a list that accepts US traders have these currencies include the Euro (EUR), the US Dollar (USD), the Swiss Franc (CHF), the Canadian Dollar (CAD), the New Zealand Dollar (NZD), the Australian Dollar (AUD), the Japanese Yen (JPY), the British Pounds Sterling (GBP), and more.

Best Forex Broker in USA

Here is our list of top 10 US forex brokers:-

1. IG US:- Best for Trading CFDs and Forex
2. TD Ameritrade:- Best for Online Stock Trading & Long-Term Investing
3. FOREX.com:- Best for Active Foreign Exchange Traders & Trading CFDs
4. Interactive Brokers:- Best for Active Traders & Institutional Investors
5. ATC Brokers:- Best for Institutional Clients & Beginner Traders
6. Ally Invest:- Best for Forex Traders
7. NinjaTrader:- Best for Forex, CFDs, & Futures Traders
8. Colmex Pro:- Best for Private Investors & Retail Traders
9. Alpho:- Best for Forex & Cryptocurrency Traders
10. Rockfort Markets:- Best for Professional Traders & Retail Traders

Top Forex Brokers in USA List

From our in-depth research, we have gathered the top 10 US regulated forex brokers below, so gather more information about the best forex platform (USA platforms) to select the preferable one for you.

IG US

IG US was launched in 2019 in the USA by the IG Group of the United Kingdom. The primary services of the site include exchange copy trading services. The forex brokers USA site currently focuses on enabling FX traders to trade in 80 international major currency pairs, forex charts, and technical indicators with a dynamic trading strategy.

The web platform IG interface is highly customizable and highly competitive, IG offers are top class & consider a global leader in the online trading industry. The United Kingdom IG markets offer experienced traders many things, and the site provides an extensive list of complex instruments for trading to the forex industry participants.

United kingdom based IG markets was Founded in 1974, the brokerage site IG US is subject to the strict rules and USA regulations by the Commodity Futures Trading Commission (CFTC), the NFA (National Futures Association), the Forex Dealer Member (FDM), and the Retail Foreign Exchange Dealer (RFED). These regulators make the forex brokers regulations, which makes it safe for experienced traders of US residents.

The trading platforms Reviews reveal that the broker website is the best brokers for trading CFDs (consider whether you understand how it works to avoid loss), average spread betting, and forex investors worldwide including US residents. IG US was founded in 1974 in the United Kingdom, giving many hours, each year testing, and researching to make money.

IG markets are a great place for currency traders that offer no account minimum initial deposit amount set for trading at IG US, including bank transfers. In contrast, the deposit fee is $300 for PayPal and bank card transactions. In IG, for the U.S traders to be classified as Eligible Contract Participant (ECP), an individual or organization must have over $10 MM in assets. However, you can view our IG review to explore the various leveraged products, trading signals, and other services that IG offers.

Pros and Cons of IG US

Fee Structure

The fee for the online brokers is low for S&P 500 CFD (contracts for difference) and nil for the demo account. The fee amount is built into the price spreads, where 0.4 points are the mean cost of the average spread during the peak trading hours. The trading fee is low for the Europe 50 CFD and is based on the spread, and the average cost of the spread is 1.5 points during peak hours. US traders seeking to trade in the EUR/USD pair need to pay a high volume traders amount.

The EUR/USD trading fee is built into the average spreads, having an average cost of 0.6 pips during the peak session of social trading. The inactivity charge is not as high as other forex trading platforms USA, and it is set at $12 per month for two years of constant inactivity. IG US charges a high forex fee in which the benchmark is set at $20,000. The ETF and stock commission fee is $2000, while the options fee is only $01.1, which is relatively low as we compare it to others.

TD Ameritrade

The best US forex brokers platform of TD Ameritrade (also known as the thinkorswim platform) is renowned for being associated with more than 7 million traders who engage in over 65,000 trades of online business almost every day. The intuitive interface of this online brokerage firm offers a wide selection of unique copy trading tools to users along with many account options, demo accounts, real time quotes, spot forex, 70 currency pairs algorithmic trading & innovations.

The thinkorswim platform feature allows smooth trading conditions where US traders access hundreds of forex charts, technical graph data verified in real-time, and spread betting. There is also a Peer Comparison tab in the online forex brokers to access the recent historical data of asset classes in the trading foreign exchange market. The data provided helps you make firm decisions.

FINRA and the SIPC ( Securities Investor Protection Corporation ) regulate TD Ameritrade’s broker. The site is the best for CFD trading, forex investors, and spread betting. These U.S traders also support mobile trading (mobile app, online business). The brokerage services provider site was established in 1975 for users situated around the world including US residents.

The account minimum deposit fee to be made by the traders at TD Ameritrade is only $50 for a standard account and $2000 for a margin trade account. It offers max leverage of 9% on the margin account balance to experience levels of U.S traders who trade forex. Although, read our honest TD Ameritrade review and learn more about the social trading platform in detail.

Pros and cons of TD Ameritrade

Fee Structure

A positive aspect of this broker’s trading platform is the offer of great bonuses and promos. There are cash bonuses worth $100 and $1000 for deposits between $25,000 and $99, 999. TD Ameritrade does not charge any fee for ETF and equity trading. The site allows trading in forex by incrementing 10,000 units based on the base currency pairs without charging a commission fee.

The margin account interest rate varies between 7.75% for more than $10,000 and 9.5% for less than or equal to $10,000. The fee for trading in futures is set at $2.25 for every contract, and the live broker charges a fee of $25 for every trade forex in each asset class.

There are withdrawal fees to be paid depending on the method of withdrawal funds. The withdrawal method is local wire transfers, it is $25, whereas account transfers cost $75. The best overall broker charges a commission fee and $25 extra for forced margin sellouts and supports credit cards as well. The social trading TD Ameritrade’s thinkorswim platform does not impose an inactivity fee; thus, it helps traders withdrawing funds on their own time.

FOREX.com

The trading platform of Forex.com is known for its tight spreads, competitive spreads (just like the broker Oanda offers tight spreads as well), a wide range of various financial markets, and for being highly interactive and customizable in layout. This proprietary trading platform is one of the biggest CFDs and largest forex brokers in USA that operates in association with more than 300 international financial markets. (Note: as multi-asset CFDs are complex instruments and come with a high degree of risk, consider whether you understand how it works to avoid loss).

The traders (U.S based) at Forex.com use the Direct Market Access feature to trade directly using the set of innovative draw trading tools, 100 technical indicators, trading tools, more than 80 currency pairs/forex pairs, and 15 time-frame trading instruments.

The proprietary trading platform helps investors, including US residents across the globe, by giving many hours each year testing and researching to make money, and several highly advanced chart trading tools that get updated in real time scanning; FOREX.com is a well-known platform that gives U.S clients access to all the advanced features and helps make money.

The best overall broker website of Forex.com is governed by CySec, CIMA, IIROC, FSA, FCA, CFTC, NFA, and SFC (Hong Kong). Forex.com is highly competitive, provides an extensive range of charting capabilities, and is recommended for active exchange traders and trading CFDs (as multi-asset CFDs are complex instruments and come with a high degree of risk).

Forex.com has been in operation since 2001 as a part of the GAIN Capital Holdings, 24 hours a day support. One needs to make a minimum account deposit of only $100 to activate the trading account on the site and gain access to its features. However, check the Forex.com review to know more details on the forex trading platform.

Pros and cons of FOREX.com

Fee Structure

You do not need to pay any fee to these best overall forex traders as they obtain their commission from the spreads. The range of the spreads (fixed spreads, low spreads) varies on an average between 0.84 pips and 1.9 pips, reduced spreads in comparison to the standard accounts.

The best US forex brokers have premium account where users need to deposit only $10,000 and conduct trading in 30 standard lots every month to obtain up to about 15% off on the standard pricing. Users who remain inactive for an entire year have to pay a penalty fee of $15 per month. The web based platform imposes a steep swap fee on US traders holding their trading positions overnight.

Interactive Brokers

Founded by the IB group, the website of Interactive Brokers facilitates its investment opportunities in more than a hundred financial markets spanning 24 nations.

The users at Interactive Brokers can open retail investor accounts for short-term trading, margin accounts for trading in securities, futures (like bitcoin futures), then options, and portfolio margin accounts for high-leveraged trading (high volume).

The most attractive feature of the Interactive Brokers website is the Trader Workstation which enables the users to trade forex in a wide range of asset classes while gaining free access (free trades).

Trading limits as many traders find interactive broker’s trustworthy. The Interactive Brokers website provides forex traders with more than 124 different charts and index overlays, trade alerts, trade history reports, low costs trading for the technical financial instruments, stop loss feature, real time scanning, and fundamental analysis of the global markets.

Thus broker finds Interactive Brokers offers a comprehensive research tools platform; across the globe with multiple global financial markets for its active trader on top of that a single integrated account to carry out all your trades.

According to a recent broker review, the Interactive Brokers website, which is also an online forex brokers, is subject to the laws and CFTC registration ( Commodity Futures Trading Commission ) and the rules of the Securities and Exchange Commission, the Financial Conduct Authority, the NYSE, and the Financial Industry Regulatory Authority. It has agencies in Japan, Hong Kong, and more.

It is an ideal choice for active traders and institutional investors with the lowest costs. However, Interactive Brokers was established in 1977 and is famous in the British virgin islands.

Interactive Brokers account minimum deposit amount is slightly higher than the best forex broker US platforms and is $100. The margin leverage at the Brokers varies between 1.41% and 1.91% for account holders with a balance of more than $1 million. Apart from this, one must check our Interactive Brokers review of this platform & learn more about its various services.

Pros and Cons of Interactive Brokers

Fee Structure

The fee structure of the US-based platform is somewhat complicated, it has a competitive fees structure Users have to pay a fee of $5 for trading in 1000 shares. The best US forex brokers website charges the same fee for penny stock trading. For options trading at the platform, the fee is $0.65 for every contract with a minimum commission amount of around $1.

Broker-assisted equity trading costs $30, whereas fx trading is charged in 0.2 and 0.08 pips based on the trading volume. The commission rate is low and fixed at $0.005 with an account minimum of $1. The Interactive Brokers broker website imposes an exposure charge whether they are new customers or not who engage in margin trading of high risk.

ATC Brokers

ATC Brokers works based on the agency broker model of trading by providing solutions on competitive pricing and ECN aggregation associated with top-tier banks. The online platform allows trading with narrow spreads in a wide array of asset classes, trading tools, and complex instruments.

If not careful, retail investor accounts lose money when trading be sure whether you can afford to take the high risk of losing money rapidly due to leverage and can gather financial statements that can help you in making firm trading decisions.

ATC US brokers provide the best trading conditions with exclusive offers of extensive knowledge, trading ideas, educational content, and an insightful economic calendar that helps investors keep track of daily forex market events and global news across the globe, whereas agencies like the new york times also help deliver; all these points make it important criteria to consider for traders.

The users can open joint, individual, or corporate ECN accounts for trading at a how much leverage, usually ranging between 1:30 and 1:100. The MetaTrader4 broker website of ATC Brokers supports stop, limit, and market orders for FX trading.

According to the review, the website is highly regulated by the FCA, which also supports the UK based forex brokers and the CIMA. The STP model of trading is highly suited to the trading interests of institutional clients and novice traders. It was founded in 2012. Learn more about the platform in our ATC Brokers review and the list of features suitable for you.

To activate the trading account, one needs to deposit at least $5000 via VISA, credit cards, Union Pay, or Skrill. The max leverage is 50:1 for professional forex and CFD traders (contracts for difference).

Pros and Cons of ATC Brokers

Fee Structure

The US forex brokers trading fee starts at 0.3 pips for the spreads of EUR/USD currency pairs/forex pairs. For the significant indices like the FTSE 100, the spreads are 0.6 pips, whereas for precious metal commodities like silver, the spreads as low as 0.7 pips. The best forex brokers USA of the broker companies accept a commission fee of 40.60 for mini contracts and $6.00 for the standard contracts.

The web based platform also charges dormant account fees that are either the remaining balance in the account or $50. The dormant accounts are accounts that have been inactive for at least half a year. A $40 fee also has to be paid during the withdrawal of funds. The forex traders of the USA industry (as per the industry participants) have to meet the swap fee to access their trading positions overnight.

Ally Invest

Ally Invest is the broker branch of Ally Bank renowned for the well rounded offering of an extensive variety of options, competitive pricing, & technical analysis tools. The investment site is designed for trading in derivatives and other securities.

It is an online broker, a highly regulated brokerage service firm that enables the forex and CFD traders looking to open two types of accounts: managed Robo advisors portfolios and self-directed accounts.

The best platform with great trading conditions for fx traders, and another best part of the ally brokerage bonus platform is that it has exclusive offers, including a great cash bonus offer against a min. deposit amount of $10,000.

The most convenient features include the Stock Screener, Options Screener, ETF and mutual fund Screener, and Fixed Income Screener that allow the user to analyze the valuation, price performance, fundamentals, trading ideas, and other parameters of the asset classes during the trading sessions like forex and CFD traders. It is better than other brokers, so most traders looking for these features to try and be part of their trading.

Authorities regulate the Ally Invest site broker, including FINRA, the SIPC, the CFTC, the FDIC, and the SEC. The forum is ideal for the best broker for forex in USA regulations for traders (offers more than 80 currency pairs). The best forex trading platform of Ally Financial Inc was founded in 1919, and Ally came into the picture in 2014. However, if you want to explore more detail about the Ally Invest review platform and its features, we have it covered.

For the forex traders, min. deposit amounts are $0 and $100 for self-directed forex trade accounts and managed portfolio accounts. The brokers impose margin calls during stock trading that gives leverage on the margin like other brokers, like Saxo bank, IG markets, etc.

Pros and Cons of Ally Invest

Fee Structure

Ally Invest does not impose any commission fee on customers who trade in ETFs, stocks, and options, and there is neither any inactivity fee nor any annual fee. However, the site charges a nominal contract fee of around $0.50 for each option and a transfer out fee of $50.

The site makes it mandatory to make a minimum purchase of at least $100 for users who seek to trade in pink sheet stocks and penny stocks.

The best US forex brokers site also adds an extra 1% of the fee on every share on the complete order for the stocks priced between $2 and $4.95. Traders have to pay a fee of $1 for trading in government-issued stocks and a fee of $9.95 for mutual funds. The platform also charges a fee of $20 for live broker trading.

NinjaTrader

The site of NinjaTrader offers extensive broker and software services along with a variety of live trading, analytical, and charting tools. NinjaTrader also offers premium features that include back-testing, automated trading, and advanced traders order account types.

The Order Flow feature of NinjaTrader allows the user to engage in strategic copy trading using volume bars, market depth, order flow, and a license for a lifetime that is user-friendly; that’s why it has been there for many years.

A positive aspect of NinjaTrader is the educational content available at the site in course documents and webinars. At the same time provides video tutorials for beginners and advanced traders.

The National Futures Association (NFA) regulates the site of NinjaTrader, for Australia its Australian Securities and Investments Commission (ASIC). The forum is best suited for forex and futures traders (like bitcoin futures) and trading forex and CFD. The site was established in 2003. The customers need to deposit at least $50 to start trading on the platform. Although check our genuine NinjaTrader review to know all the details & services, forex pairs of this forex markets platform are also known for their great customer service.

Pros and Cons of NinjaTrader

Fee Structure

NinjaTrader web platform charges a high inactivity fee of $25, but its trading fee is low. It is recommended that one upgrades the trading license to the Lifetime level to pay lower trading fees. There are three types of licenses depending on which the account fee varies for the users.

The Free License users do not need to pay any account types fee. The Lease License holders pay $720 annually, and the Lifetime license holders make a lump sum payment of $1099 to trade freely for the rest of the membership period.

The futures trading fee is very low (like bitcoin futures), especially for the stock index futures of the US. The order routing fee depends upon the type of connection. For Continuum connection, the order routing fee is $01.0 whereas, for Rithmic connection, the order routing fee is $0.25 for each contract. The withdrawal fee is $40, a tad too high for beginners.

Colmex Pro

Colmex Pro is particularly popular for the advanced trader with a MultiTrader site that offers an extensive host range of intuitive functions, including basket trades, Level 2 quotes for options and equities, order routing technologies, and real-time data points analysis, mobile apps, and a low level of latency.

The forum offers an impressive selection of analytical and charting tools, stock market history reports, real-time stock screeners, chart indicators, advanced order types, and a Super DOM panel for trading with Level 2 data verified info. The best forex trading platforms associated with Colmex Pro include Colmex Pro 2.0, MetaTrader 4, and Colmex Pro MultiTrader.

The FSCA regulates the unbiased platform of Colmex Pro, and the CySEC maintains its high security. It is highly recommended for US-based institutional and private investors and those trading in retail. With more than 8000 U.S clients in association, the site has been in operation since 2010.

The min. deposit amount of $500 can be paid via wire transfer, VISA, PayPal, and credit card. The max leverage is 5:1 for stock trading and 30:1 for FX trading.

Pros and Cons of Colmex Pro

Fee Structure

The fee structure at US forex brokers consists of a tiered hierarchy that starts with $0.01 for every share for the stock CFD traders. There is also a fixed plan in which one has to pay $12 for up to 3000 shares and $9 for up to 5000 shares. The spreads begin with 0.3 pips for the most popular forex currency pairs for exchange trading.

The regulated brokers accept a commission fee of $14.50 for each contract traded through the Basic available Account types. The inactivity fee is slightly high, and it is $55 for the equity trading accounts, and $30 for the CFDs work trading accounts. Trading platforms user also have to pay a swap fee for trading overnight and additional routing and ECN fees.

Alpho

Regulated in significant jurisdictions and publicly traded platform of Alpho is perfect for traders who seek to take part in international trading forex at competitive fees. The broker platform is associated with the trading platforms, including MT Web trader and MT5. U.S Clients can access two accounts, including the standard account and the Islamic Swap-free trade account.

Professional traders can open either of the accounts to trade with a minimum of 0.01 lots at forex. There is a limited amount of educational content available on the site. Still, the webinars and courses of Alpho are quite a bit suitable for beginning traders and even for seasoned traders.

The web trading platform site provides access to educational resources, and the account type, and accepts clients to trade history reports, a wide array of charting tools, analysis tools, and the latest economic news as per market research; even agencies like the new york times help regarding that, which increases the knowledge base of traders.

The web-based forex brokerage forum of Alpho is registered in Seychelles and regulated by the regulatory agencies of FSA. This site is best suited for forex, cryptocurrency trade, and other assets for U.S traders and trading for retail brokers and institutional investors. Alpho was founded in 2016 as a part of the Gulf Brokers Ltd company. The minimum deposit amount to be made for trading forex in different asset classes is only $100.

Pros and Cons of Alpho

Fee Structure

As per the latest reviews and reports, In this publicly traded platform, users can enjoy commission-free trading through their accounts on Alpho. However, it is essential to understand how CFDs work, as they are complex instruments; thus, CFDs trading is charged with a commission fee of 0.5% for each lot (as multi asset CFDs are complex instruments and come with a high risk).

The spreads of FX trading platforms are pretty high, starting from 3 pips for the EUR/USD pair and 5 pips for significant indices such as FTSE 100. Alpho charges a standard swap fee for overnight trading and a maintenance fee of $10 monthly for accounts that stay inactive for at least a month. The swap fee is charged for holding the trading position overnight for ECN stocks.

Rockfort Markets

Headquartered in New Zealand, Rockfort Markets offers excellent trading opportunities associated with the trading platforms that include Trader Workstation and MetaTrader 4. The exchange forum offers a competitive commission based pricing, a variety of derivatives, and exchange-traded securities at multiple leverages.

The Trader Workstation platform of Rockfort Markets provides every user, either a beginner or forex pro, with a wide range of market scanning, complex instruments, and comprehensive research tools that enable strategic trading, which makes it better in comparison to other forex platforms.

The publicly traded site of Rockfort Markets boasts of a highly interactive user friendly interface that is equipped with multiple plug-ins, an extensive range of charting capabilities, and charting tools to facilitate traders (U.S based and other currency traders) with the fast execution of orders, keeping up to date with market research teams and automated trading to make money.

The publicly traded account of Rockfort Markets is regulated by the largest Financial Market Authority of New Zealand. The platform support of MetaTrader 4 is ideally suited for professional trading and trading in retail. Rockfort Markets the web trading platform gained a foothold in the money market of New Zealand in 2019.

To activate the trading account, one needs to make the minimum deposit of $200 via bank transfer, VISA, POLi, Mastercard, Debit card, and Credit card. One can rake in rich returns from the trading platforms on Rockfort Markets at the max leverage of 1:500.

Pros and Cons of Rockfort Markets

Fee Structure

The fee structure of Rockfort Markets is quite reasonable. For US forex trading, the fee varies based on the spreads between 1.2-5 pips for minor currencies and 0.9-1.4 pips for the most popular currencies. Users who hold their trading positions open and active overnight have to pay rollover charges (also known as swap charges) for the extra brokerage service provided by the platform.

The Standard Account holders do not need to pay any commission fee to the best forex brokers for US Clients, whereas the Pro Account holders pay the commission charge of $0.07 for each micro-lot during the FX trading sessions. The site imposes a deposit fee of 3% on local traders and $15 on overseas traders, so depending on the account type the fee varies. An inactivity fee of $20 is paid every month for six months of inactivity.