On the other hand, withdrawing funds can only be done via debit card and bank wire transfer. These frameworks in place by the NFA ensure you are treated fairly and that your funds are protected should https://www.trading-market.org/ anything terrible happen to the broker. Typically, the CFTC will conduct an independent audit or investigation and then recommend a course of action if it suspects a broker has violated the law.
What is the best US Forex broker with the MT4 platform?
Trading.com offers the choice of their proprietary platform or MetaTrader 5. The proprietary web trader platform and mobile app are streamlined ensuring easy trading no matter where you are. IG’s reputation in the forex trading community is solid, evident by its ‘great’ rating on TrustPilot, backed by thousands of five-star reviews. This broker has established a strong presence in the foreign exchange industry and has been operating for over 45 years, serving over 313,000 clients globally. At Forex.com, traders can access the full suite of standard MetaTrader tools on MT4 and MT5, complemented by extra features.
Review Methodology
Forex trading in general isn’t where we’d suggest beginner investors get started — if you’re brand new to investing, check out our list of the best brokers for beginners. That said, if you’re a seasoned investor looking to dabble in trading forex for the first time, you might benefit from going with a more traditional broker to start, like Interactive Brokers. If you are in the USA, then you must choose a forex broker that is regulated by the Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA). 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.
What Is The Best App To Trade Forex In The US?
Different trading accounts suit different types of trading styles so we think it is good that FOREX.com allow you to choose the account for your trading strategy. To confirm whether or not a broker is licensed to offer forex services in the US, visit the NFA’s Background Affiliation Status Information Center website. You can search for brokers by name to check their affiliation, registration status and disciplinary history. We recommend eToro for anyone interested in casual day trading or social and copy trading.
Leverage and Margin Requirements.
A subsidiary of American financial services company Charles Schwab, this broker enjoys unique access to financial markets not available to other online brokers headquartered abroad. With TD Ameritrade you can go beyond forex to explore cryptocurrency, stocks, ETFs and mutual funds. OANDA limits American traders to forex only but offers a comprehensive selection of pairs to trade. The broker’s ten major currency pairs include EUR, GBP, USD, JPY, NZD, AUD and CHF. It also offers 58 minor, exotic and cross pairs for a total of 68 currency combinations for trading. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.
- This platform is particularly beneficial for those requiring detailed and accessible market insights to inform their trading strategies.
- I found it unusual that they only offered forex markets, so no commodities, futures, or options.
- Forex traders can avail of a cool 75 forex pairs — While this is less than IG’s 91, the company does make up for it with its fully professional suite of tools.
- This service ensures that you get treated fairly and even compensated if you have been wrongly treated.
- Although you don’t have to be a beginner to benefit from its offerings, LCG is hard to beat if you are just starting out.
- Spreads are available from 0 pips, and the broker offers a completely free line of educational resources before opening an account.
Can You Use the MT4 Trading Platform In The US?
They are also the MT4 brokers that offer the widest range of financial markets and currency pairs to trade with. Out of all the online forex brokers in the US that we’ve reviewed, IG distinctly shines due to its variety of trading pairs, competitive low spreads, and extensive best us forex brokers set of calculators and charting tools. OANDA presents a diverse suite of trading platforms featuring their proprietary web, mobile, and tablet options powered by TradingView. Our experience indicated that newcomers and seasoned traders would find these platforms apt.
Pepperstone: Best for Trading Experience
In addition to its proprietary trading platform, IG offers support for 3rd-party forex platforms such as MetaTrader 4 and ProRealTime. As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience. The firm’s fees are competitive within the industry and it ranks high on our list for customer service.
Note, however, that the broker will act as a market maker, executing trades through a dealing desk. IG offers traders in the US over 80 forex pairs, comprehensive research tools, an advanced web trading platform, and real-time data. The company’s offerings are centered on spot forex trading, and they also boast a wide array of well-produced educational materials. Its competitive spreads also genuinely stand out among US-based online forex brokers we’ve tested. The extensive assortment of calculators and charting tools enhances the trading experience.
A reliable and reputable broker will provide you with a user-friendly trading platform, competitive spreads, fast execution, trustworthiness, transparent fees and a wide range of trading instruments. In this article, we tested and reviewed the best forex brokers to help you trade forex safely and meet your platform requirements. Having explored 71 currency pairs, we found that IG Markets provides one of the broadest ranges of currency pairs among brokers in the US. Interestingly, for US traders, there’s no commission on trading when using a standard account. Spreads start from 0.8 pips for selected currency pairs but otherwise have a minimum of 1.0 pips.
The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the FXCC MT4 platforms on Android and iOS smartphones and tablets. FXCC employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. Another benefit for futures traders at Plus500 is trading fees consisting of tight spreads and a commission of $0.49 per micro contract and $0.89 per standard contract. A $10 auto-liquidation fee also exists if Plus500 must liquidate a contract.
MetaTrader 4 (MT4) is the most popular forex trading platform worldwide among retail investors. Its strength lies in its user-friendly interface and sophisticated mobile apps, which make trading accessible on the go. Furthermore, MT4 is widely recognized for its Expert Advisors (EAs), which enable traders to automate their trading strategies effectively.
We recommend FOREX.com for its appealing combination of tight spreads and excellent MetaTrader 4 offering. This broker goes the extra mile with 20 apps that you can use to customize your trading environment down to the last detail. Nine additional Expert Advisors (EAs), including Sentiment Trader, help you take automated trading to the next level. With the low fees, you can take advantage of the markets that Interactive Brokers offer.
TD Ameritrade’s offering includes ETFs, indices, stocks, commodities, mutual funds, cryptocurrencies, futures and options. You can use it to scan the forex market based on any technical analysis metric, and it will filter the currency pairs based on whether they match your criteria or not. This is useful if you use candlestick patterns to trade, because you can search forex pairs based on candlesticks that have formed.
It’s a mainstream platform that actively encourages integrations from numerous third-party APIs and other tools. There are tons of brokers available for US traders, but not all of them are created equal. Therefore, as a US forex trader, there are a few key points to be mindful of, mostly related to the regulations that are in place around trading there.
While their prolific writing career includes seven books and contributions to numerous financial websites and newswires, much of their recent work was published at Benzinga. Brokers have varying fee structures, including spreads, commissions, overnight fees, withdrawal fees and account inactivity fees. Compare the costs across brokers to ensure that they align with your trading strategy and budget. Spreads are available from 0 pips, and the broker offers a completely free line of educational resources before opening an account.
