CFD products are not available is not available for US traders, instead brokers facilities spot trading meaning you buy and sell the underlying instrument. Having CFTC or NFA regulation means the broker can legally offer financial trading services to american traders. OANDA is a leading global market maker that ranks in our top US FX brokers list for their no minimum deposit policy, comprehensive support for MetaTrader 4, round-the-clock customer support and competitive trading costs.

Key Strengths:. At OANDA US, the price you see on the feed is the price at which your order gets filled. There are no re-quotes. OANDA customers have a wide range of supported funding currencies at their disposal including USD, EUR, GBP, CAD, AUD, HKD, JPY, SGD and CHF. At OANDA, US residents can fund their live accounts via debit card MasterCard, Visa or Discover , bank transfer, check USD and automated clearing house ACH.

On the other hand, withdrawing funds can only be done via debit card and bank wire transfer. For those who prefer the Meta family of trading platforms and tools, OANDA allows MetaTrader 4 users to access additional tools, including advanced indicators, mini charts, alert trading, EAs, alert trading and one-cancels-the-other orders, keyboard trading and tick trading via MetaTrader Premium. For automated trading, OANDA offers US traders a private API, OANDA v20 REST, which allows for automated trades via the OANDA Trade platforms.

With over 45 years of experience in the foreign exchange market and over , retail client accounts worldwide, IG Group is one of the largest forex brokers operating on US soil. Trading with IG US comes with several advantages for those new to trading. There is no minimum deposit requirement to open an account, however traders must meet margin requirements to take a trading position. Leverage with IG extends to the maximum permitted by the Commodities Futures Trading Commission CFTC and the National Futures Association NFA : for major currency pairs, and for minor pairs.

Due to state-level regulatory restrictions, IG US is not available to residents of Arizona or Ohio. At IG, US clients can enjoy competitive spreads across over 70 currency pairs including:. Professional traders and casual investors agree that IG offers first-in-class proprietary trading platforms for web, mobile and tablet.

From remarkably comprehensive market research to advanced charting capabilities — 20 drawing tools and 32 indicators — IG has every tool a trader might need coupled with the power a forex specialist could want in a single platform.

com takes first place as the lowest of the low-spread US forex brokers thanks to spreads as tight as 0. A no-dealing-desk model and straight through processing STP execution accounts enable the broker to process trades at market prices, which translates into tight spreads compared to no commission based trading account.

View Forex. com offers an impressive variety of account types, more than any other brokerage we reviewed. The Standard and MetaTrader 4 accounts charge no commission or funding costs and offer a minimum spread of 1. Both are good options for discretionary traders. MetaTrader 4 accounts have access to the MetaTrader 4 trading platform, while Standard account holders will execute trades via Forex.

The Commission and STP Pro Account types boast impressively tight spreads suitable for system traders: 0. As a retail trader, the commission account is likely to be the account you will be using. While the STP Pro account spreads are slightly lower than the commission account, this account allows you to save on commissions through the use of tiered commissions. Tiered commissions means the more volume you trade the previous month, the larger the discount in commissions the next month.

com stands out amongst the lowest spread US forex brokers for the variety of trading products available in the US, with nine major currency pairs, plus gold and silver, index futures and futures options. com account holders have access to an impressive array of trading platforms. At the Commission and STP Pro account levels, however, Forex. com offers a more limited range of trading platform options. STP Pro accounts run only on Forex. An easy-to-navigate trading environment, low trading costs and numerous trading platforms from which to choose make Forex.

com a good choice for intermediate and advanced traders hoping to control costs without sacrificing a quality trading experience. TD Ameritrade is a multi-asset broker that ranks in our top US forex brokers list due to their outstanding customer support.

With over 40 years of experience providing trading services, TD Ameritrade is one of the largest broker-dealer firms in the US. The brokerage manages over 11 million trading accounts holding more than USD 1 trillion in assets and processes , orders on a daily basis. US-based forex traders will need to open a Standard account with TD Ameritrade. This dealing-desk account offers a variable spread that starts from 1. At TD Ameritrade, US traders have direct market access to a wide variety of financial instruments, including:.

TD Ameritrade offers account holders the option to trade via a professional-grade terminal: thinkorswim. Available in desktop, web and mobile formats, thinkorswim provides many of the same features as MetaTrader 4, as well as some important extras:.

The broker also provides award-winning customer service. Live operators, many of whom are traders themselves, stand ready to assist with technical problems, trading strategy issues and account funding difficulties, no matter where you are in the world. Overall, TD Ameritrade is geared more towards professional traders. However, US retail traders can also benefit from the multi-asset thinkorswim platform, which is rich in technical tools.

This brokerage offers a solid selection of assets to trade, as well as comprehensive analysis, research and charting tools. For daytraders and those new to forex trading, Interactive Brokers offers the IBKR Lite account.

The broker does act as a market-maker, however trades bypass a dealing desk in favor of 17 forex-dealing banks.

Variable spreads are exceptionally tight as a result and start from just 0. Interactive Brokers also charges a commission for round-turn trades of a standard lot, depending on volume.

Opening an IBKR Lite account can take a bit more time than with other top forex brokers, but does not require a minimum deposit. In addition to over currency pairs, Interactive Brokers provides the opportunity to trade options, bonds, stocks, futures, commodities, mutual funds and crypto. Each platform includes powerful trading tools, such as FX Trader and advanced algorithms.

IB Smartrouting aims to improve execution speed. Daytraders interested in trading stocks, mutual funds or cryptocurrency also have the option to trade via IBKR Global Trader or Impact. The latter focuses on socially responsible investing. The first financial services platform of its kind to be licensed by the Commodities Futures Trading Commission and the National Futures Association, NADEX is currently the best, safest way for forex traders to experiment with options contracts.

The underlying instruments for each contract are priced based on COMEX and NYMEX futures. NADEX offers a simple, easy-to-understand trading fee structure for each of its three contract types. If the contract is question is a binary option expiration contract, however, and the trader is out of the money upon expiration, NADEX charges no fee.

Positions for each of the three contract types are capped: 2, for binary options, for call spreads and for knockouts. Currently, the underlying assets available for binary options contracts on NADEX include forex, indices and commodities.

Traders hoping for broader exposure or more volatile assets may need to explore alternative options. Regardless of funding method, traders pay no fees to fund a NADEX account. Withdrawals also incur no fees, unless done by wire transfer. Only payment methods backed by real cash, such as debit cards, checks, wire transfers and ACH transfers will do.

Traders who require powerful support like advanced charting, technical indicators and sophisticated drawing tools might find the NADEX platform a bit bare bones. The available trading resources, in our view, more than suffice given the niche trading products available.

NADEX offers both mobile and desktop platforms for maximum freedom and flexibility. Traders have access to identical features and tools, regardless of how and where they choose to trade. Traders interested in learning more about exotic derivatives and options contracts can do so on NADEX with the peace of mind that comes from trading with a regulated platform. For algorithmic traders and others who rely on expert advisors to manage their trading activity, MetaTrader 5 has much to offer.

Of all the brokers we reviewed, however, Trading. com stands alone for its commitment to the next-generation MetaQuotes trading platform. With all the features of its predecessor, MT4, MetaTrader 5 also provides traders with the optimal environment for technical trading and above-average execution speeds.

Similar to Forex. com, which we reviewed above, Trading. com stands out more for competitive pricing than for sophisticated features. The commitment to MT5 and an easy-to-navigate trading environment earn it a spot as one of the best US forex brokers. Opening a trading account with Trading. com takes little time and less effort. com offers a single account option to US-based forex traders: the T1. While the broker does not charge a commission on trades, it does act as a market-maker.

Spreads are slightly wider as a result and start at 0. Leverage for major pairs tops out at for maor pairs and for minor pairs in accordance with CFTC and NFA limits.

The broker offers an excellent selection of forex pairs; 71 in total, including all major currency pairs, minor currency pairs and exotics. While Trading. com does offer account holders the option to trade on its own in-house platforms, the real draw is MetaTrader 5. The successor to popular platform MetaTrader 4, MT5 offers traders an environment fully optimised for algorithmic trading. The platform has capacity for charts with 21 time frames, as well as 80 technical analysis tools.

Users have access to a curated marketplace of custom-built and off-the-shelf trading robots, but can also code their own expert advisors specifically for use on the platform. Note, however, that trading bots and EAs written for use with MT4 will not transfer to MT5 due to a difference in programming language.

com is an excellent option for cost-conscious traders looking for low trading fees, competitive spreads and a powerful platform to support algorithmic trading strategies. For most American traders, eToro offers a single account option for trading cryptocurrency: Standard. Residents of some states, however, may find themselves eligible for only a virtual account due to regulations on cryptocurrency trading.

The eToro Standard account uses a dealing-desk model, and variable spreads start at 1. Costs associated with trading stocks and ETFs are competitive, however, and carry no commission. Stock traders can buy and sell fractional shares commission-free. Another unique eToro feature? This broker allows traders to fund their accounts with popular cryptocurrencies, such as ETH, BTC and XRP. eToro does not offer account holders the option to trade via a desktop platform. Nor does the broker support third-party integrations for either MetaTrader 4 or MetaTrader 5, which limits the use of expert advisors and other trading bots.

For casual or beginner traders interested in exploring day trading and those who prefer to trade only crypto, eToro has much to offer. Regulatory restrictions and a limited range of trading platforms and tools may render it less appealing to experienced traders and those interested in a wider range of assets, however.

US residents can trade forex with a regulated forex broker. There are seven brokers in the USA that are CFTC regulated including OANDA, IG, Forex. com, TD Ameritrade and Interactive Brokers. Our comparison found OANDA has the best offering with a details explanation provided in the OANDA section. TD Ameritrade is the most trusted broker based on market share. Our TD Ameritrade section reviews the broker in more detail. Our team at Compare Forex Brokers believes regulation is one of the most important factors when assessing US FX brokers.

Forex regulation in the United States is unanimously understood to be the most stringent regulatory framework in the world. The strict rules that govern the financial services offered by the US Forex brokers give US traders the following advantages:. Below, our team of investment professionals has outlined the major regulatory entities in the USA that supervise the financial markets, including Forex brokers.

In the United States, there are two financial watchdogs responsible for providing the regulatory framework for US-based Forex brokers:. All US and overseas Forex brokers that intend to service US residents must register with the CFTC and NFA at the same time. Both regulatory bodies work together to protect US traders.

The NFA is a self-regulatory organization SRO founded in as a CFTC committee but became an independent registered futures association in The National Futures Association began its regulatory operations in Spreads are particularly competitive when trading major pairs. FXCM is also a great option if you want access to leverage. In fact, this top-rated forex trading platform offers leverage of up to Your limits will, however, also be dictated by your location and prior trading knowledge.

For example, UK and European traders will be capped to In terms of the forex trading platform itself, FXCM offers full support for MT4 and ZuluTrade. Or, you might decide to use the provider's native FXCM Trading Station - with is very popular with newbies. Finally, FXCM has been active in the forex trading scene for over two decades and is regulated by the FCA. There is no guarantee you will make money with this provider. TD Ameritrade is arguably one of the most reputable brokerage firms globally.

Established more than four decades ago, the platform is typically known for offering a huge library of stocks, ETFs, and investment funds. However, TD Ameritrade is also behind a fully-fledged forex trading facility. The platform supports a wide variety of tradable currencies, with pairs including the likes of USD, CAD, GBP, HKD, NZD, JPY, NOK, and more. All supported pairs can be traded 23 hours per day - subsequently ensuring that the platform serves its global client base.

We should note that the TD Ameritrade 'Thinkorswim' platform is best suited for experienced forex traders. This is because it comes packed with professional-level tools and features that to the untrained eye - might come across as somewhat intimidating. When it comes to forex trading fees, TD Ameritrade builds all commissions into the spread. This means that you only need to look out for the gap between the bid and ask of your chosen FX pair.

In some respect, leverage is a crucial tool to have at your disposal when trading forex online. After all, the day-to-day gains that you can make by buying and selling currency pairs are going to be somewhat modest.

As such, if you have access to a small amount of capital, it might be best to use a platform that offers high levels of leverage. As always, you might be offered lower limits - especially if you are based in Europe and you're not deemed to be a professional trader.

Nevertheless, we should note IG is much more than just a high leverage broker. On the contrary, this hugely popular forex trading platform gives you access to over 80 currency pairs. Fees are really attractive too, as spreads on major pairs start from just 0.

There are no commissions charged in the IG forex trading department, either. Additionally, IG is also compatible with MT4. If you haven't previously heard of IG and are concerned about safety - you shouldn't be.

This brokerage firm has been operational since the s and it is now publicly listed on the London Stock Exchange. And most importantly - it is fully regulated in several jurisdictions. FXTM is a popular forex trading platform that offers full support for MT4. This means that once you open an account and make a deposit, you can place all buy and sell orders via the MT4 desktop software.

As a seasoned trader, you'll know that MT4 provides heaps of technical indicators and is compatible with automated forex EAs. FXTM itself offers a huge number of forex pairs and there are several account types on offer. Plus, this FXTM account allows you to trade forex with micro amounts. This is perfect if you are trading forex online for the first time.

In terms of forex trading fees, this will depend on your chosen account type. For example, some accounts offer zero commissions and wider spreads, while others allow you to trade currency pairs at 0 pips.

If you're a newbie, FXTM offers a good selection of educational and research tools. This will allow you to become a better forex trader over the course of time. If you are looking to trade several different asset classes other than just forex, XTB might be a good option to consider. The online trading platform is particularly popular in Mainland Europe - as XTB's parent company is listed on the Warsaw Stock Exchange. Nevertheless, the forex trading department at XTB is highly extensive, with dozens of pairs to choose from.

Best of all, you won't need to pay any commissions when trading forex, as everything is built into the spread. This is also the case with indices, commodities, and digital currencies like Bitcoin and Ethereum. If you're also keen on trading stock CFDs, XTB will charge you a very small commission of 0. There are no fees to get started with XTB and there is no minimum deposit to take into account. XTB uses its own trading platform that was built from the ground up - xStation.

This is available online or via the XTB mobile app, which you can use on mobile devices such as iPhone and the ones compatible with Android. When it comes to the extensive of supported forex trading market, nobody gets close to CMC Markets. Naturally, this includes each and every major and minor pair in the market.

But, CMC Markets is really strong when it comes to trading emerging currencies. This includes everything from the Indian rupee and Mexican peso to the South African rand and Singapore dollar. CMC Markets is home to an award-winning trading platform that is compatible with desktop browsers, Android, iOS, and tablets.

Additionally, you can also trade forex at CMC Markets via MT4. When it comes to trading fees, CMC Markets builds all costs into the spread. This starts at a very competitive 0. Outside of the forex department, CMC Markets also supports CFDs in the form of stocks, indices, cryptocurrencies, commodities, and Treasuries.

If you like the sound of CMC Markets, it takes just minutes to open an account with this top-rated forex trading platform. However, a major flaw here is that CMC Markets charges 2. So now that we have reviewed the best forex trading platforms of and beyond - it's now time to explain how you can find a provider yourself.

After all, no two brokers are the same, so you need to ensure that the platform is conducive to your forex trading needs. Below you will find a list of important factors that should be considered in your search for the best forex brokers. The global forex trading industry now sees trillions of dollars worth of currency change hands each and every day. As such, in most parts of the world, this online trading scene is heavily regulated.

However, not all forex trading sites obtain the required license or authorization to operate in the countries it serves. In other cases, although the platform might hold a license, this might be from a shady offshore financial body. As such, you should only open an account with a forex trading platform if it is regulated by a reputable license issuer. By choose a forex trading platform that is regulated by one or more of the above bodies - you can rest assured that the provider is safe.

For example, our top-rated forex trading platform - eToro, is regulated by the FCA, CySEC, and ASIC. It is also registered with FINRA in the US. All in all, these bodies have strict expectations on the best forex brokers that they regulate - all of which center on fairness, transparency, and investor protection. There are many forex pairs that you can trade from the comfort of your home.

Most forex trading sites in the space will cover most major and minor pairs. These are the most in-demand pairs as they carry the largest trading volume and liquidity.

In turn, majors and minors benefit from the tightest spreads. With that said, the best forex trading platforms that we came across also offer lots in the way of exotic pairs. eToro, for example, allows you to trade many emerging currencies against the likes of the US dollar and Euro. Although more volatile, this is something that is often craved by seasoned forex traders anyway.

All forex trading platforms are in business to make money. How they achieve this can vary from platform to platform.

Therefore, it is imperative that you check what fees will be applicable when trading forex at your chosen site. Some forex trading platforms charge a commission on every buy and sell order that you place. In all but a few rare cases, this will come in the form of a variable percentage. Swap cannot be charged in Islamic forex brokers or swap free forex brokers. With that said, the best forex trading platforms of allow you to place buy and sell positions commission-free.

This includes the likes eToro, Forex. com, CMC Markets, and more. In this scenario, you will only pay a fee in the form of the spread. All forex trading platforms make money from the spread. This is the difference between the buy and sell price of the forex pair. Unlike traditional financial markets, the spread in forex is calculated in 'pips'. In terms of what is deemed competitive, the best forex trading platforms offer spreads on major pairs at less than 1 pip.

If you are unfamiliar with the spread, it is an indirect cost that you need to cover to get back to the break-even point on your forex trade. It is important to note that most forex trading platforms offer a variable spread.

This means that the spread can change throughout the day depending on market conditions. Crucially, the more volatile the forex pair in question is, the wider the spread will be. Unless you have a significant amount of capital in your forex trading platform account, you will likely need to use leverage.

When you trade leveraged products, this attracts overnight financing fees. In simple terms, this is a fee that you pay to your chosen platform for keeping the position open overnight.

This fee will be deducted from your account balance and subsequently charged on a daily basis. With this in mind, you need to check how much your chosen platform charges.

This is usually expressed as a percentage and multiplied against your stake. The more you stake and the higher the leverage you apply, the more you will pay. Being able to trade forex online and make consistent profits is a difficult task. This is especially the case if you are a complete novice in the space. As such, you'll want to see if your chosen forex platform offers a selection of tools and features that can take your currency trading efforts to the next level. As we covered earlier, being able to make a living by trading forex without a sizable amount of capital can be challenging.

This is because you will be targeting very small profit margins - especially if you're looking to day trade. As such, if leverage is something that you require, be sure to check whether your chosen forex trading platform offers this. Once again, your limits will be determined by your country of residence - with the UK, Europe, and several other regions capped to The best forex trading platforms give you access to many order types. This will allow you to trade forex online in a risk-averse manner.

The best forex brokers offer automated tools. In the case of eToro, this comes in the form of a Copy Trading tool that allows you to mirror the buy and sell orders of an experienced currency investor. In other words, every time your chosen investor places a forex trade, the exact position will be mirrored in your own account. The key point is that the size of your stake will be proportionate to how much you decide to invest into the eToro trader. As per the above, the Copy Trading tool at eToro allows you to actively buy and sell currencies without you needing to lift a finger.

This is great for newbies or those strapped for time. An additional way to trade forex online in an automated manner is to opt for an EA Expert Advisor. Otherwise referred to as a 'forex robot' the EA is a piece of software that has the ability to trade on your behalf.

Unlike the Copy Trading tool at eToro, forex EAs are based on pre-programmed algorithms. This means that it has the capacity to scan the forex markets 24 hours per day, 7 days per week. In order to benefit from an EA, you need to sign up with a trading platform that supports MT4.

Many of the best forex trading platforms discussed on this page offer this. Then, it's just a case of installing your forex EA into MT4 and activating it. To ensure that you stay had of the game at all times, it's best to choose a forex trading platform that offers alerts.

Even better, these alerts should be delivered to your mobile phone in real-time. For example, you might receive a notification if a major forex pair breaches a key residence line.

Or, the platform might notify you when a news story breaks that could influence the future price of a currency pair. Either way, the best forex trading platforms ensure that you never miss out on important fundamental and technical events.

If you are just started out as an online forex trader, it's best to choose a platform that can help you improve your knowledge of the industry. For example, eToro offers everything from forex trading guides and videos to weekly webinars. In the case of research, the best forex trading platforms offer financial news and market insights. This is great for keeping abreast of key market developments and can really help with your trading decision-making process.

In terms of technical data, the best forex trading platforms offer advanced chart reading tools. This should include customizable screens, technical indicators, and chart drawing capabilities. The forex trading industry moves at an alarming pace - with exchange rates changing on a second-by-second basis.

As such, you'll want to ensure that your chosen forex trading platform offers a great end-to-end user experience. For example, how easy is it to find your chosen forex market, and are there any difficulties in placing orders?

When we went through the research process ourselves, we found that there is often a huge difference in how user-friendly a forex trading platform is. For example, the likes of eToro and Forex. com are really simple to use - which is the case on the desktop version and mobile app. However, some platforms - such as TD Ameritrade, are a lot more suited to seasoned forex pros. This is because it TD Ameritrade forex trading facility is packed with advanced functionality tools and features.

While this might be great for experienced traders, it might be overwhelming for beginners. We briefly mentioned forex demo accounts earlier on this page -and for good reason.

The best forex trading platforms offer demo accounts that mirror real trading conditions. This is great for learning the ropes of a complex forex trading scene - as you can keep practices until you are ready to risk your own money. Take note, some forex trading platforms put a time limit on your long you can use the demo account facility - such as 30 days. The top forex trading platforms that we came across offer a huge selection of everyday payment methods.

This makes the deposit and withdrawal process really simple. For example, eToro not supports instant deposits in the form of debit and credit cards, but e-wallets, too.

However, some of the forex trading platforms that we reviewed only accept bank transfers. If you are using a platform based in your country of residence, you might still benefit from an instant deposit.

Select from the best of these brokers like OANDA, Forex. com Gain Capital , TD Ameritrade, Interactive Brokers, and ATC brokers. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Laura is a freelance content writer focused on financial and legal technology, decentralized finance, cryptocurrency and related topics. Prior to beginning her writing career, she worked as an international disputes lawyer specializing in finance and construction cases in Paris, New York and Dubai.

She holds degrees in law from Queen Mary University of London in Paris LLM and New York University School of Law JD , as well as assorted other diplomas in Literature, French and Philosophy from New York University MA and the University of Georgia - Athens BA Hons. As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge.

He has a Master's Degree in economics at Penn State University and a B. He also owns the website Young and the Invested providing investing advice for young individuals.

Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Choosing a forex broker requires a reasonable amount of thought. Considerations to keep in mind are trading costs, platforms and products such as Forex, shares, indices and commodities.

CFD products are not available is not available for US traders, instead brokers facilities spot trading meaning you buy and sell the underlying instrument. Having CFTC or NFA regulation means the broker can legally offer financial trading services to american traders. OANDA is a leading global market maker that ranks in our top US FX brokers list for their no minimum deposit policy, comprehensive support for MetaTrader 4, round-the-clock customer support and competitive trading costs.

Key Strengths:. At OANDA US, the price you see on the feed is the price at which your order gets filled. There are no re-quotes. OANDA customers have a wide range of supported funding currencies at their disposal including USD, EUR, GBP, CAD, AUD, HKD, JPY, SGD and CHF. At OANDA, US residents can fund their live accounts via debit card MasterCard, Visa or Discover , bank transfer, check USD and automated clearing house ACH.

On the other hand, withdrawing funds can only be done via debit card and bank wire transfer. For those who prefer the Meta family of trading platforms and tools, OANDA allows MetaTrader 4 users to access additional tools, including advanced indicators, mini charts, alert trading, EAs, alert trading and one-cancels-the-other orders, keyboard trading and tick trading via MetaTrader Premium.

For automated trading, OANDA offers US traders a private API, OANDA v20 REST, which allows for automated trades via the OANDA Trade platforms. With over 45 years of experience in the foreign exchange market and over , retail client accounts worldwide, IG Group is one of the largest forex brokers operating on US soil.

Trading with IG US comes with several advantages for those new to trading. There is no minimum deposit requirement to open an account, however traders must meet margin requirements to take a trading position.

Leverage with IG extends to the maximum permitted by the Commodities Futures Trading Commission CFTC and the National Futures Association NFA : for major currency pairs, and for minor pairs. Due to state-level regulatory restrictions, IG US is not available to residents of Arizona or Ohio.

At IG, US clients can enjoy competitive spreads across over 70 currency pairs including:. Professional traders and casual investors agree that IG offers first-in-class proprietary trading platforms for web, mobile and tablet. From remarkably comprehensive market research to advanced charting capabilities — 20 drawing tools and 32 indicators — IG has every tool a trader might need coupled with the power a forex specialist could want in a single platform. com takes first place as the lowest of the low-spread US forex brokers thanks to spreads as tight as 0.

A no-dealing-desk model and straight through processing STP execution accounts enable the broker to process trades at market prices, which translates into tight spreads compared to no commission based trading account. View Forex. com offers an impressive variety of account types, more than any other brokerage we reviewed. The Standard and MetaTrader 4 accounts charge no commission or funding costs and offer a minimum spread of 1. Both are good options for discretionary traders.

MetaTrader 4 accounts have access to the MetaTrader 4 trading platform, while Standard account holders will execute trades via Forex.

The Commission and STP Pro Account types boast impressively tight spreads suitable for system traders: 0. As a retail trader, the commission account is likely to be the account you will be using. While the STP Pro account spreads are slightly lower than the commission account, this account allows you to save on commissions through the use of tiered commissions. Tiered commissions means the more volume you trade the previous month, the larger the discount in commissions the next month.

com stands out amongst the lowest spread US forex brokers for the variety of trading products available in the US, with nine major currency pairs, plus gold and silver, index futures and futures options.

com account holders have access to an impressive array of trading platforms. At the Commission and STP Pro account levels, however, Forex. com offers a more limited range of trading platform options. STP Pro accounts run only on Forex.

An easy-to-navigate trading environment, low trading costs and numerous trading platforms from which to choose make Forex. com a good choice for intermediate and advanced traders hoping to control costs without sacrificing a quality trading experience.

TD Ameritrade is a multi-asset broker that ranks in our top US forex brokers list due to their outstanding customer support. With over 40 years of experience providing trading services, TD Ameritrade is one of the largest broker-dealer firms in the US. The brokerage manages over 11 million trading accounts holding more than USD 1 trillion in assets and processes , orders on a daily basis.

US-based forex traders will need to open a Standard account with TD Ameritrade. This dealing-desk account offers a variable spread that starts from 1. At TD Ameritrade, US traders have direct market access to a wide variety of financial instruments, including:. TD Ameritrade offers account holders the option to trade via a professional-grade terminal: thinkorswim. Available in desktop, web and mobile formats, thinkorswim provides many of the same features as MetaTrader 4, as well as some important extras:.

The broker also provides award-winning customer service. Live operators, many of whom are traders themselves, stand ready to assist with technical problems, trading strategy issues and account funding difficulties, no matter where you are in the world.

Overall, TD Ameritrade is geared more towards professional traders. However, US retail traders can also benefit from the multi-asset thinkorswim platform, which is rich in technical tools. This brokerage offers a solid selection of assets to trade, as well as comprehensive analysis, research and charting tools. For daytraders and those new to forex trading, Interactive Brokers offers the IBKR Lite account.

The broker does act as a market-maker, however trades bypass a dealing desk in favor of 17 forex-dealing banks. Variable spreads are exceptionally tight as a result and start from just 0. Interactive Brokers also charges a commission for round-turn trades of a standard lot, depending on volume.

Opening an IBKR Lite account can take a bit more time than with other top forex brokers, but does not require a minimum deposit.

In addition to over currency pairs, Interactive Brokers provides the opportunity to trade options, bonds, stocks, futures, commodities, mutual funds and crypto. Each platform includes powerful trading tools, such as FX Trader and advanced algorithms.

IB Smartrouting aims to improve execution speed. Daytraders interested in trading stocks, mutual funds or cryptocurrency also have the option to trade via IBKR Global Trader or Impact. The latter focuses on socially responsible investing. The first financial services platform of its kind to be licensed by the Commodities Futures Trading Commission and the National Futures Association, NADEX is currently the best, safest way for forex traders to experiment with options contracts. The underlying instruments for each contract are priced based on COMEX and NYMEX futures.

NADEX offers a simple, easy-to-understand trading fee structure for each of its three contract types. If the contract is question is a binary option expiration contract, however, and the trader is out of the money upon expiration, NADEX charges no fee.

Positions for each of the three contract types are capped: 2, for binary options, for call spreads and for knockouts. Currently, the underlying assets available for binary options contracts on NADEX include forex, indices and commodities. Traders hoping for broader exposure or more volatile assets may need to explore alternative options.

Regardless of funding method, traders pay no fees to fund a NADEX account. Withdrawals also incur no fees, unless done by wire transfer. Only payment methods backed by real cash, such as debit cards, checks, wire transfers and ACH transfers will do. Traders who require powerful support like advanced charting, technical indicators and sophisticated drawing tools might find the NADEX platform a bit bare bones. The available trading resources, in our view, more than suffice given the niche trading products available.

NADEX offers both mobile and desktop platforms for maximum freedom and flexibility. Traders have access to identical features and tools, regardless of how and where they choose to trade. Traders interested in learning more about exotic derivatives and options contracts can do so on NADEX with the peace of mind that comes from trading with a regulated platform. For algorithmic traders and others who rely on expert advisors to manage their trading activity, MetaTrader 5 has much to offer.

Of all the brokers we reviewed, however, Trading. com stands alone for its commitment to the next-generation MetaQuotes trading platform.

With all the features of its predecessor, MT4, MetaTrader 5 also provides traders with the optimal environment for technical trading and above-average execution speeds. Similar to Forex. com, which we reviewed above, Trading. com stands out more for competitive pricing than for sophisticated features. The commitment to MT5 and an easy-to-navigate trading environment earn it a spot as one of the best US forex brokers.

NADEX Trading Platforms Available Formats: mobile app, desktop NADEX account holders can trade options and knockouts on either a mobile or desktop platforms for enhanced freedom and flexibility. The available trading resources, in our view, more than suffice given the niche trading products available. Automated Trading. This means that you might need to wait several hours to get a reply. TD Ameritrade is a multi-asset broker that ranks in our top US forex brokers list due to their outstanding customer support.

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