Online Forex Broker Reviews and Ratings

The CFTC, together with the NFA, also works to educate retail investors on the benefits and risks of online trading. Through publications, webinars and other tools, the regulator helps American traders stay informed about changes in the markets. NADEX does a great job at providing option derivatives through their exchange. Due to their built-in risk management and profit levels, they offer a low-cost trading solution with ideal trading products if you are a novice trader.

Of all the brokers we reviewed, however, Trading.com stands Forex Brokers 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. Charles Schwab is a major financial services provider known for its wide reach and extensive client base. It manages 34.8 million brokerage accounts, 5.2 million workplace plan accounts, and 1.8 million banking accounts, with $8.52 trillion in client assets. This scale and experience make Schwab a top choice for forex trading in the US, supported by strong customer service and effective trading solutions.

Top 10 Forex Brokers In 2025

Most withdrawal requests are fast at minutes with maximum processing of up to 48 hours, ensuring that traders have timely access to their funds. Still, it’s crucial to recognize that some products we mention come from our partners. While we strive to be comprehensive, the compensation we receive can influence the products, companies, or services we showcase and review. Explore the highlights and discover why these brokers are recognized as leaders in the industry.

• To add to IC Markets’ appeal as a low-cost broker, it averaged 0.32 pips for the USD-backed majors on its RAW account against the broker average of 0.42 pips.
• Most withdrawal requests are fast at minutes with maximum processing of up to 48 hours, ensuring that traders have timely access to their funds.
• These frameworks in place by the NFA ensure you are treated fairly and that your funds are protected should anything terrible happen to the broker.
• Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
• While its trading platform may not have some important functionalities for experienced traders, the range of tokens available to trade exceeds any other licensed broker.

And Multicharts, which has back testing, automation and charting features other platforms are missing. To ensure you have the richest possible trading experience with MT4, OANDA gives you access to their order book with the premium Open Order Indicator. I think this is an excellent tool because it shows where the highest concentration of OANDA clients’ orders are, giving you areas of liquidity to trade within. We’ve collected the best US regulated brokers to trade Forex with and ranked them based on our testing.

Compare Forex Brokers Regulated By CFTC

Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. True ECN brokers cannot trade against their specific clients to bankrupts themselves. Based on our testing, BlackBull Markets is the best broker for fast Execution Speeds, for both limit and market orders.

What is the best trading platform for Forex trading?

According to the Bank for International Settlements (BIS), the United States, the United Kingdom, and Japan tops the list of the most active forex traders. Individual states may also require financial services companies to obtain licenses to operate within the jurisdiction. Likewise, each state can determine whether it will allow brokers to allow novel financial products.

Best MetaTrader Brokers for January 2025

However, there is a commission of 3.50 USD per lot per side when trading from MetaTrader or a 3.00 USD commission per 100,000 units of currency traded when trading from cTrader. During our live fee test, I found the spread for EUR/USD during the London and New York trading session averaged 0.9 pips. This is better than the industry average of 1.0 pips for a commission-free trading account. Through our hands-on analysis, we’ve narrowed down the top 14 options to meet diverse trading needs.

Residents of the USA cannot legally trade with a broker that does not have this regulation. Most likely these other websites are including brokers that are not regulated by the CFTC or NFA, so cannot legally offer their services to US residents. While “true” ECN trading for Forex trading is not available, you can trade with Best ECN Brokers accounts like Forex.com and Interactive Brokers. The majority of brokers in the US, however, use a dealing desk or market maker model; these include OANDA, IG, TD-AmeriTrade and Trading.com. More experienced traders may balk at the limited functionality of eToro’s trading platform, but beginners will appreciate research tools and innovative approaches to social and copy trading.

Best Execution Speed

• There are over 50 indicators available in the mobile app covering all the most well-known ones, such as Bollinger Bands and MACD, and other newer ones, such as the Stochastic Relative Strength Index.
• IG is just one of 18 forex brokers that we evaluated based on 73 criteria crucial to the success of forex traders.
• Another plus is that there are no fees for depositing or withdrawing money, though there’s a $100 minimum for deposits.
• Powered by TradingView, OANDA’s proprietary platforms have all the tools a trader might want, including performance analytics, personalized watchlists and advanced charting options.
• CMC Markets is our top share and CFD broker with a huge range of nearly 10,000 products available to trade.
• If you trade $50 million or more in notional monthly volume, you can access a 5% spread cashback rebate, which is the equivalent of $5 per million (USD) traded.

Our experts at Compare Forex Brokers have hand-checked all the data provided through the Forex Brokers USA Review for accuracy. EToro’s unique feature is the ability to social trade; clients can choose from 42 cryptos, over 2500 stocks and over 70,000 ETFs. Our broker reviews are reader supported and we may receive payment when you click on a partner site. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

For a more refined perspective based on activity by top traders, users can turn to eToro’s sentiment data analysis. 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, are more than sufficient given the niche trading products available. Technically an exchange and not a broker, NADEX allows you access to maximum leverage alongside excellent risk management tools. You won’t pay a penalty to exit a position before your contract expires, which can prevent loss or maximize profits. 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.