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Best US Forex Brokers for 2022

The United States bags a vast number of the world’s largest financial markets. For Example, the United States has by far the largest share of the world stock markets, amounting to over half the total value of global. The Forex market has been particularly active since the 1970s and in the USA, like in the rest of the world, and it has gained popularity over the past 40 years. Therefore, forex trading definitely is a popular activity among forex traders in the United States. Many brokers have launched and developed user-friendly and advanced online trading platforms that have simplified the process of trading and made it available from almost anywhere in the world.

If brokers want to attract US forex traders as their clients, they must become registered as Retail Foreign Exchange Dealers (RFED), and more importantly, gain authorization from the National Futures Association (NFA) and as a member of CFTC. The principal regulator of the stock market in the U.S.is the Securities and Exchange Commission (SEC), established in 1934 by the Securities Exchange Act, which oversees the securities exchanges and securities firms as well as some self-organization such as the Financial Industry Regulatory Authority (FINRA). The National Futures Association (NFA) is an independent, self-regulatory organization for the U.S. Futures and Derivatives markets.

Here we make this dedicated and unbiased broker ranking list for your reference, with the purpose of helping you achieve your financial goals in the forex world.

Top 10 Best US Forex Brokers

Both ASIC & CYSEC Regulated Financial Provider offers You Excellent Security.

24/7 Professional and Multilingual Customer Support Easy to Reach.

A Stringently Regulated Broker, Reliable and Safe to Trade With.

Quick & Easy to Start Real Trading by Funding As Low As 5 USD.

A Multi-regulated Broker for you to Start Real Trading with a $1 Initial Deposit.

Incredibly Unlimited Leverage Offering for Asia, Rare Among Brokers.

4

Regulated by Two Tier-1 Regulators: ASIC & FCA, Trustworthy to Trade With.

Low Forex Trading Fees, Spreads From 0 Pips, No Inactivity Fee.

5

Strictly Regulated by ASIC and CYSEC, a Safe Broker to Trade With.

MT4 & MT5 Available, Plus Two Copy Platforms: Social Trading & Myfxbooks.

6

Strictly Regulated by ASIC & FMA, rendering you enough confidence to Invest With.

A Multi-Asset Broker, with Over 12,000 Trading Instruments On Offer.

7

A long-established Broker, Strictly Regulated by Multiple Regulatory Bodies in Various Jurisdictions, Offering Sufficient Reliability.

Over 80 Currency Tradable, Competitive Pricing Structure with Tight Spreads from 0 Pips.

8

A Multi-Regulated Big Player that renders you adequate Safety.

Enjoy the Ease of Withdrawal without any Additional Charges.

9

Licensed & Regulated in Multiple Jurisdictions: ASIC, CYSEC, FCA, DFSA, SCB.

Super-Low 1 USD Initial Deposit Quite Friendly to Active Traders.

10

Globally Licensed and Regulated by FAC & CYSEC, Offering Great Reliability.

Advanced Trading Platforms Offering of Ultra-Low Spreads, Starting from 0 pips.

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Best Forex Brokers in US Video

Comparison of the Best Forex Brokers in US

Forex Broker

Licenses

Minimum spread

Maximum Leverage

Minimum Deposit

Detail
Compare
IC-Markets
9.19

Regulated

/

1:500

$200 USD

XM
8.99

Regulated

/

/

$10,000 USD

Exness
8.99

Regulated

0.1

1:Unlimited

$3,000 USD

Eightcap
8.44

Regulated

0.1

1:400

$500USD

FP-Markets
8.39

Regulated

From 0.0 pips

1:500

$100 AUD or equivalent

TMGM
8.37

Regulated

/

1:400

$1,000 USD

Forex.com
8.36

Regulated

Depends on the trading commodity

1:400

$100 USD

FXTM
7.06

Regulated

/

/

$500USD

Forex Trading Knowledge Questions and Answers

Standards for Legal Brokers?

Choosing a broker that is simple to open an account with, requires a relatively low amount of capital deposit, offers generous leverage & advanced trading platform seems quite easy.

Choosing a broker that is simple to open an account with, requires a relatively low amount of capital deposit, offers generous leverage & advanced trading platform seems quite easy. However, choosing a legit one is not easy. The essential points for a legit broker are: Regulation-This is the most important thing. Some top-tier regulatory jurisdictions include ASIC (Australia), FCA (UK), CFTC /NFA (US)-any of these can render confidence that the broker is legit.

Forex Regulatory Map North America
Trading Platforms-Industry-Recognized trading platform like MT4, MT5, cTrader.

Minimum Deposit-Usually a lower amount.

Ease of Withdrawal-You can withdraw your deposited funds quickly, easily, and without any fees.

Spreads/commission-Not too wide. Customer Support-You can contact this broker anytime anywhere if something goes wrong.

What are Legit Forex Brokers in the U.S.?

Forex brokers must be registered with two major regulatory bodies at the same time.

To legally conduct forex activities in the United States, forex brokers must be registered with two major regulatory bodies at the same time: Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA).

Some legit forex brokers with active clients registration here include IG, Interactive Brokers, OANDA, Forex.com, TD Ameritrade, NADEX, ATC Brokers, Alley Invest, and more. Choosing well-regulated and trustworthy financial services providers can offer the clients the highest level of protection, significantly lowering your trading risks compared to those who are not.

While illegal forex brokers are leaving no stone unturned to extract all your available money from you. It is essential that you should learn to manage risks and stay away from illegal trading platforms.

What are Best Forex Trading Platforms?

A reliable forex trading platform means a lot for traders or investors playing in the forex world.

A reliable forex trading platform means a lot for traders or investors playing in the forex world. Therefore, choosing a trustworthy broker partner in light of some Best Forex Broker Platforms Ranking Lists is an essential step before starting real trading.

Some best forex trading platforms widely recognized by forex investors include Pepperstone-Best MetaTrader4 forex broker, FXCM-Best Forex Trading App with Ninja Trader, Plus500-Best Forex Trader platform for beginner, TD-Ameritrade-Best Trading Platform for US Traders, eToro-Top Forex Software for copy trading, IC Markets-Top MetaTrader 5 CFD broker.

How to Check Forex Regulation?

If you want to investigate regulation information (including regulatory license and regulation status) on a specific firm, individual, or pool, directly go to regulatory register websites.

If you want to investigate regulation information (including regulatory license and regulation status) on a specific firm, individual, or pool, directly go to regulatory register websites. Here we take NFA as an example, firstly, you should visit “NFA Background Affiliation Status Information Center (BASIC). The following page comes:

How to check forex regulation?

Next, let us type the “Forex.com” (the famous forex broker in the United States even in the world) in the search bar, here comes the result: Forex.com is indeed an NFA-regulated broker. You can also input NFA ID to investigate if this broker is regulated or not.

Forex.com is indeed an NFA-regulated broker

If a forex broker fails to display its detailed regulatory license number, it is probably an illegal forex broker that traders should stay away from. Nowadays, many forex brokers love to clone and pretend to be regulated, therefore, traders should first come to regulatory authorities’ websites to check if its regulatory number is true when choosing forex brokers.

What is a Forex Broker?

A forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies.

A forex broker refers to a financial services provider that acts as an intermediary between investors and the bank network that renders access to forex liquidity, offering a platform to buy and sell foreign currency pairs. For instance, a forex broker gives you a quoted price from some banks they work with to provide forex liquidity. There are mainly two methods in which forex brokers get compensated or make profits.

The first is calculating clients’ trading costs into spreads of forex pairs (bid-ask price). The other is charging additional fees, such as fees for using their trading platforms, monthly fees for a dormant account, and more.

What is a forex broker?

Do I Need a Forex Broker?

Yes, to trade forex you'll need to use a forex broker

The forex market is the world’s largest financial market, with no central exchange for traders to conduct their forex trading activities. Everything changes so fast in the forex markets as you can gain incredibly huge profits in a short time and then in heavy loss after. Therefore, trading with a reputable forex broker based on understanding your investment needs and styles is critical for success in the global foreign exchange markets.

As a forex investor, you may have personalized requirements related to account types, trading platforms, customer services. With the help of some forex experts, stable platforms, advanced resources and tools offered by reliable forex brokers, you can definitely reach your trading goals more easily in the forex world.

Are Forex Brokers Reliable?

Forex brokers are the “middle man” between investors and the bank system and it does mean a lot to forex traders.

Forex brokers are the “middle man” between investors and the bank system and it does mean a lot to forex traders. Whether forex brokers are reliable depends on if you choose a well-regulated broker that offers you the highest level of protection. Reliable forex brokers can significantly reduce your trading stresses and help you achieve your trading goals more easily, while illegal brokers defraud you by extracting all your funds and then disappearing.

To find a reliable forex broker, the foremost thing is checking if a forex broker is well-regulated (Being regulated by top-tier regulatory bodies will ensure more safety).

Then, you should also take note of its minimum initial deposit requirement, spreads & commissions (trading costs not too large), trading platforms available (a good broker will offer good trading platforms like MT4, MT5), deposit and withdrawal time.

How do Beginners to Choose a Proper Forex Broker?

A rookie trader must discover the appropriate strategy to selecting a forex broker, as this directly affects his trading performance on the forex market.

A rookie trader must discover the appropriate strategy to selecting a forex broker, as this directly affects his trading performance on the forex market. When a novice wants to start real trading, choosing a proper forex broker partner becomes much tougher. There are indeed some remarkable features for novice traders to choose a reliable forex broker:

1Good reputation

2Low minimum initial capital requirement

3Different account types offered

4Comfortable trading conditions

5High performance & stable trading platforms

6Fast & easy deposit and withdrawal

7Dedicated customer support services

Facing the changeable forex market, novice trader is apparently more vulnerable, so it is essential for them to find a proper broker based on the key characteristics above.

How to Choose a Most Suitable Broker?

Success in forex trading, as in any other kind of investment, comes down to making the right selections continuously.

Success in forex trading, as in any other kind of investment, comes down to making the right selections continuously. The first and most crucial step for every forex investor who wants to participate in the forex market is to find a suitable broker partner. Here are some key points you should pay attention to:

How to choose a most suitable broker?

Regulation

Regulation is typically the first indication of a trustworthy and dependable broker. Regulated brokers are required to keep client funds into segregated bank accounts, separating from their operating funds to protect clients.

Trading Conditions

Good trading conditions will increase your chances of making money in the market, while unfavorable trading conditions may expose you to market hazards. A good broker will offer different accounts to meet the personalized needs of various traders and requires a much lower minimum initial capital amount. Additionally, keep in mind that Forex trading is a business, and you must be mindful of your expenses.

Trading Platforms

Trading platforms serve as your entry point into the FX market. They let you buy and sell instruments. In most cases, reliable forex broker operates classics, such as MT4, MT5, or both. Investors should take extra vigilance when dealing with less reputable or unregulated brokers who use proprietary trading platforms.

Deposit & Withdrawal

A reliable forex broker will always make it easy for you to withdraw your deposited funds.

Some other perspectives you should also take note are the background, market coverage rate of the broker as well as educational tools offered by this broker.

Forex Trading Anti-Fraud Guidelines

Forex trading frauds are the employment of trading strategies to defraud forex investors by convincing them that trading in the forex market would result in a large profit.

Forex trading frauds are the employment of trading strategies to defraud forex investors by convincing them that trading in the forex market would result in a large profit. Innocent traders are easily scammed by tricky brokers, so here are some anti-fraud guidelines for you to follow:

Forex Trading Anti-Fraud Guidelines

Firstly, check if your broker is strictly regulated in certain countries, overseen by some influential financial agencies. If not, please stay away from it.

Secondly, looking at reviews of the broker as well as discussion boards should be part of your research when selecting a broker.

Thirdly, be aware of the forex pyramid scheme, and avoid any platform or services that come with the hype of “get rich quick”.

Fourthly, be wary of the withdrawal time. Illegal brokers or scams usually reject traders’ withdrawal applications for no reason.

What are the Advantages of Forex Trading Compared to Other Investments?

Designated by Commodity Futures Trading Commission (CFTC) as a registered futures association.

Designated by Commodity Futures Trading Commission (CFTC) as a registered futures association. The mandate of NFA is to safeguard the integrity of the derivatives markets, protect investors and ensure that members fulfill their regulatory obligations. Extra care should be taken to verify the ownership, status, and location of each forex trading firm, website, or app before signing up for a trading account.

Regulations on offered leverage, required deposits, reporting requirements, and investor protections will vary by country. The foreign exchange is a fast-paced and exciting place that is more active as compared to any other financial market across the whole world.

It’s where fortunes are made within a matter of seconds, and it's responsible for a staggering five trillion US dollars swapping hands daily. If you want to get started with foreign exchange (also known as Forex market) investing or trading in the US, then you need to find the best forex broker to work with and get away from these fraudsters.

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Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

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