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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

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