Best Forex Brokers in United States

Forex Trading in USA

Unlike the rest of the world, forex trading in the United States is subject to strict regulations. Any broker who wishes to operate in the country needs to hold a valid license from the concerned regulatory authorities. Due to strict regulatory requirements, most brokers find it difficult to operate in the United States. That’s why only a limited number of forex brokers are available to sign up from the US. In this piece, we discuss how to select the best forex brokers in the United States.

Interactive Brokers
Interactive Brokers Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Accepts Japanese Clients
Accepts Canadian Clients
Trading API
Trailing Stops
Interest on Margin
Variable Spread
ECN Account
Allows hedging
Offers STP
ECN or STP Execution
Account Type
Information
IBKR Lite
  • Commision: Free
  • Maximum Leverage: 1:40
  • Typical Spread: 0.1 pips
  • Mobile Platform: IBKR Mobile
  • Trading Platform: Client Portal, Trader Workstation (TWS), IBKR Web Trader
  • Spread Type: Variable Spread
  • Minimum Deposit: 0
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: No
IBKR PRO
  • Commision: Fixed or Tiered Pricing
  • Maximum Leverage: 1:40
  • Typical Spread: 0.1 pips
  • Mobile Platform: IBKR Mobile
  • Trading Platform: Client Portal, Trader Workstation (TWS).
  • Spread Type: Variable Spread
  • Minimum Deposit: 0
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
USA - USAsec
Canada (IIROC)
Singapore - MAS
USA - (FINRA)
Ireland - (CBI)
Austria - (CSSF)
Hungary - (MNB)
India - (BSE)
Japan - (FSA)
Information:
Company NameInteractive Brokers
Year Funded1978
HeadquartersUSA
Office Locations USA, Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, Japan, India, China, Luxembourg, Singapore, Ireland and Estonia.
Client Funds Bank(s)
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD, ZAR, HUF, PLN, RUB, DKK, SEK, NOK, CZK, MXN, ILS
Support Languages English, French, German, Italian, Russian, Spanish, Japanese, Chinese
Funding MethodsBank Wire, BPAY
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️
IG
TradingDominance Score™: 95 / 100
IG Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Scalping Allowed
Trading API
Trailing Stops
Variable Spread
Allows hedging
ECN or STP Execution
VPS Trading
Offers MT4
Account Type
Information
CFD Trading Account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.8 pips
  • Mobile Platform: IG Trading Platform, MT4 Mobile, IG PWA
  • Trading Platform: IG Trading Platform, MT4, ProRealTime (PRT), L2 Dealer
  • Spread Type: Variable Spread
  • Minimum Deposit: 250
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Professional Account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.8 pips
  • Mobile Platform: IG Trading Platform, MT4 Mobile, IG PWA
  • Trading Platform: IG Trading Platform, MT4, ProRealTime (PRT), L2 Dealer
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Dubai (DFSA)
USA - (CFTC)
Singapore - MAS
Bahamas - (SCB)
Germany – (BaFin)
Switzerland – (FINMA)
USA – (NFA)
New Zealand – (FMA)
Japan – (FSA)
Information:
Company NameIG
Year Funded1974
HeadquartersUnited Kingdom
Office Locations Denmark, Deutschland, Spain, France, Ireland, Italy, Luxembourg, Nederland, Norge, Österreich, Portugal, Romania, Russia, United Kingdom, United States, Australia, Singapore, South Africa, United Arab Emirates
Client Funds Bank(s)
Account CurrencyAUD, EUR, GBP, SGD, USD, HKD
Support Languages Arabic, English, French, German, Italian, Portuguese, Russian, Korean, Japanese, Chinese, Swedish
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin
Fixed spread
Variable spread✔️
Exness
TradingDominance Score™: 94 / 100
Exness Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Indices
Precious Metals
Other Features
Cent Accounts
Negative Balance Protection
Social Trading
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Scalping Allowed
Trading API
Trailing Stops
Bonuses
Variable Spread
ECN Account
Allows hedging
Offers STP
Copy Trading
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
Standard
  • Commision: No trading commission
  • Maximum Leverage: 2000:1
  • Typical Spread: 0.2-1.2
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Standard Cent
  • Commision: No trading commission
  • Maximum Leverage: Unlimited
  • Typical Spread: 0.2-1.2
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Raw Spread
  • Commision: Up to 3.5 USD
  • Maximum Leverage: 1:2000
  • Typical Spread: 0
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Zero
  • Commision: From 3.5 USD
  • Maximum Leverage: 1:Unlimited
  • Typical Spread: 0
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Pro
  • Commision: No trading commission
  • Maximum Leverage: 1:2000
  • Typical Spread: From 0.1
  • Mobile Platform: MT4, MT5
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
United Kingdom - UK FCA
Cyprus - CY CYSEC
South Africa - ZA FSCA
The Seychelles FSA
Information:
Company NameExness
Year Funded2008
HeadquartersNetherland, Seychelles
Office Locations Netherland, Seychelles
Client Funds Bank(s)Top Grade Investment Banks
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD, ZAR, HUF, PLN, RUB, DKK, SEK, RON, NOK, IDR, CZK, CNY, MXN, TRY, GOLD, SILVER, AED, ARS, AZN, DHD, BND, BRL, CLP, COP, DZD, GEL, GHS, ILS, IRN, JOD, KES, KRW, KZT, LBP, LKR, MAD, MYR, NGN, NDZ, OMR, PHP, QAR, SAR, SYP, THB, TND, TWD, UGX, UAH
Support Languages Arabic, English, French, Indonesian, Malay, Portuguese, Russian, Spanish, Vietnamese, Thai, Korean, Japanese, Bengali, Hindi and Urdu, Chinese
Funding MethodsBank Wire, Neteller, Skrill, Bitcoin, Credit Card, Tether, WebMoney, Perfect Money
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts ✔️
Negative balance protection ✔️
Social trading ✔️
Regulatory deposit insurance
Trailing stops✔️
Bonuses✔️
Interest on margin
Fixed spread
Variable spread✔️
forex.com
TradingDominance Score™: 92 / 100
forex.com Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Accepts Canadian Clients
Scalping Allowed
Trading API
Trailing Stops
Bonuses
Interest on Margin
Fixed Spread
Variable Spread
Allows hedging
Offers STP
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
Standard account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Commission account
  • Commision: $5 per 100,000 on forex trades
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
STP Pro Account
  • Commision: $5 per 100,000 on forex trades
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
USA - (CFTC)
Canada (IIROC)
USA - (NFA)
Cayman Islands - (CIMA)
Information:
Company Nameforex.com
Year Funded2001
HeadquartersThe United States of America
Office Locations London, United Kingdom
Client Funds Bank(s)
Account CurrencyAUD, CHF, EUR, GBP, JPY, USD
Support Languages English, Japanese, Chinese
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses✔️
Interest on margin ✔️
Fixed spread✔️
Variable spread✔️
OANDA
TradingDominance Score™: 89 / 100
OANDA Financial Instruments
Forex
Stock CFDs
Commodities
Oil and Energies
Gold
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Accepts Japanese Clients
Accepts Canadian Clients
Scalping Allowed
Trading API
Trailing Stops
Interest on Margin
Variable Spread
Allows hedging
VPS Trading
Offers MT4
Account Type
Information
Standard
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile.
  • Trading Platform: MT4, OANDA Trade
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Premium
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile
  • Trading Platform: OANDA Trade, MT4
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
USA - (CFTC)
Canada (IIROC)
Singapore - MAS
Information:
Company NameOANDA
Year Funded1996
HeadquartersNew York, United States
Office Locations Singapore, Sydney, Tokyo, London, Frankfurt, Kraków, Gzira, New York, Toronto
Client Funds Bank(s)JPMorgan Chase Bank, HSBC
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, SGD, USD, HKD
Support Languages Arabic, English, French, German, Italian, Polish, Russian, Japanese, Chinese
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Stock CFDs, Commodities, Oil and Energies, Gold, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️
eToro
TradingDominance Score™: 88 / 100
eToro Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Social Trading
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Trading API
Trailing Stops
Bonuses
Variable Spread
Allows hedging
Offers STP
Copy Trading
Account Type
Information
CFD Account
  • Commision: $0
  • Maximum Leverage: 1:30
  • Typical Spread: 0.7 pips
  • Mobile Platform: eToro trading platform
  • Trading Platform: eToro trading platform
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 Lots
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Professional Account
  • Commision: $0
  • Maximum Leverage: 1:30
  • Typical Spread: 0.7 pips
  • Mobile Platform: eToro trading platform
  • Trading Platform: eToro trading platform
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
Information:
Company NameeToro
Year Funded2007
HeadquartersLimassol (Cyprus) and London (UK)
Office Locations Tel Aviv, New Jersey, Sydney and Shanghai.
Client Funds Bank(s)
Account CurrencyUSD
Support Languages Arabic, English, French, German, Italian, Malay, Polish, Russian, Spanish, Vietnamese, Korean, Chinese, Czech, Danish, Finnish, Norwegian, Romanian, Swedish
Funding MethodsBank Wire, Neteller, Skrill, PayPal, Credit Card, WebMoney, Yandex Money, Rapid Transfer, Klarna, Sofort Banking, China UnionPay
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading ✔️
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses✔️
Interest on margin
Fixed spread
Variable spread✔️

How to choose the best forex broker in USA

Regulation of a broker

Regulation is the most crucial element to check when selecting a forex broker in a country like the United States. A broker has to ensure multiple parameters to continue offering trading services in the country including but not limited to;

  • Safety of clients funds and confidential information
  • Holding segregated bank accounts for clients investments
  • Ensuring funds compensation in case of becoming insolvent
  • Ensuring KYC compliance to avoid money laundering activities
  • Disclosure of financial statements to the concerned authorities at regular intervals, etc.

Always make sure that your prospective broker holds a valid license from the concerned regulatory bodies in the United States. Two main authorities who regulate forex trading within the country are;

  1. Commodities Futures Trade Commission (CFTC)
  2. National Futures Association (NFA)

The overall reputation of a broker

Checking the broker’s reputation is as important as other factors while searching for a forex broker. You can read clients’ testimonials and feedback about your prospective broker on popular discussion platforms, such as Reddit, and Quora. You should also check the broker’s rating with independent review websites such as Trust Pilot, and Yelp, etc. Lastly, you can also seek personal suggestions to ascertain the trustworthiness of a broker.

Open an account with a broker that is in business for more than 03 years

Do not open an account with a broker who is new to the industry. After all, it’s not just about the matter of your funds security but it’s also about your overall well-being. Novice brokers have to face many challenges such as regulatory compliance, liquidity assurance, and protection of clients’ confidential data. It might not take more than a couple of years for an incompetent broker to fail the market limitations and become liquidated. Therefore, it is best to sign up with a broker that has already survived its existence in the industry for three years or more.

Check deposit and withdrawal process

Checking the deposit and withdrawal process of your prospective broker is also imperative. Usually, brokers are quick to process deposits. However, when it comes to releasing your funds, most brokers struggle to process your withdrawal requests on time. Also, do not forget to check the available payment options. Sometimes it’s not the broker who delays your payments but the method you choose takes more time. For example, fund transfers using credit/debit cards are instantaneous as compared to wire transfers that could take between 24 hours to several days.

Check the international presence of a broker

It is common for successful brokers to operate on an international level. A broker has to ensure various prerequisites to become regulated in a country other than its home country. If your prospective broker holds multiple regulations, you can rest assured that a broker is sufficiently liquid, secured, and has best practices in place.

Contact customer support

Do not overlook the significance of checking the broker’s customer support services. A broker who fails to offer efficient customer services is likely to disappoint you in other matters as well. Try to interact with the customer support staff of your prospective broker, ask several queries and register a couple of complaints with it. A reliable broker will turn around with proper resolution to your queries and complaints within a suitable time period.

Best Forex Brokers In The United States

Listed below are some best forex brokers in the United States.

Forex.com – It offers user-friendly trading platforms

IG Markets – It comes with a low-cost brokerage fee

TD Ameritrade – It offers multiple tradable financial instruments

How did we select the best forex brokers in the United States?

We took the given below factors into account while selecting the best forex brokers in the United States;

Checked and confirmed the regulatory status

We have personally checked the regulation status of each of the brokers listed. After asking the license numbers from concerned brokers, we verified them on both Commodities Futures Trade Commission (CFTC) as well as National Futures Association (NFA) websites. We found that all our listed brokers are authorized to operate within the United States.

Checked reputation of brokers

We have also confirmed the positive reputation of our listed brokers from multiple channels, including independent review websites, social networking platforms, and personal references. After considering the clientele feedback and reliability scores of our listed brokers, we made identifiable patterns and excluded any broker that didn’t meet the specific criteria.

Tested deposit and withdrawal process

We made deposits and placed withdrawal requests with all of the listed brokers. Honestly, we faced no issues either with deposits or withdrawals. Besides being fast enough to process our payments, the brokers didn’t charge us any additional cost neither on deposits nor on withdrawals.

Used services and features

We also used different services and features offered by our listed brokers, such as leverage, charting tools, trend indicators, research tools, and educational resources. We found that our listed brokers ensure high industry standards in the provisioning of different services and features.

Tested trading platforms

To check if the trading platforms offered by our listed brokers are customer-friendly, we tested each of them personally. We found that all of the trading platforms are not only easy to navigate but also have all the basic and advanced tools required for successful trading.

Checked the availability of mobile trading platforms

We have ensured that all our listed brokers offer custom-built mobile trading platforms for on-the-go traders. Clients can access their trading accounts and keep placing trades round the clock with the comfort of their mobile screen. You can download the mobile trading apps of the brokers from App and Google Play Store.

Checked demo accounts

We have confirmed that demo accounts are available with each of the listed brokers. Traders can use demo accounts to practice as many trading strategies as possible. Our listed brokers offer demo accounts with unlimited expiry.

Contacted customer support

Lastly, we checked the level of customer service with all of the listed brokers. Despite raising multiple complaints and asking too many queries, our brokers’ customer support staff remained well-behaved, composed, and professional.

Forex Brokers in the United States– FAQs

Is forex trading legal in the United States?

Yes, forex trading is legal in the USA. However, the country has strict regulatory restrictions in place.

Do forex traders pay tax in the United States?

Yes, traders have to pay taxes on their forex earnings in the United States. It is believed that the tax rate on forex earning in the United States is higher than most jurisdictions worldwide.

Who regulates forex trading in the United States?

Commodities Futures Trade Commission (CFTC) and National Futures Association (NFA) are the main regulatory authorities that look after the affairs related to forex trading.

How many forex traders are there in the United States?

According to https://www.forex.in.rs/, there are nearly 0.48 Million traders in the United States.

Can U.S. residents sign up with a forex broker from abroad?

Yes, they can. However, traders must sign-up with the US-regulated brokers only.

Final Words

Since there are a limited number of brokers operating in the United States, you don’t have many options available. Therefore, we have handpicked some of the best forex brokers in the United States.