Best USA Forex Broker 2023

Do you want to find the best forex broker in the USA?

Here at TradersBest.com, we think forex trading should be for everyone who wants to give it a try, regardless of previous experience. So it really doesn’t make any difference at all whether you’ve been trading for years, or if this is your first time. The information that you’ll find throughout our site is aimed at absolutely every level of trader.

With the help of our insightful reviews and comparison guides, you’ll easily be able to identify the absolute best forex broker to suit your risk profile, your budget and your experience. And it all starts right here!

Is forex trading legal in the USA?

When it comes to forex trading USA laws are very clear. The activity is completely legal, but that should never lead to a sense of complacency. Wherever finance is involved, scammers are never far away, so it’s important to be cautious about signing up to any online trading entity. This is where our reviews really come into their own, as we undertake a whole raft of checks to ensure the brokers we list are safe, fair and completely legitimate.

5 steps to a secure and fair USA forex trading experience

This is how we test for the best online forex brokers in the USA

Forex trading is inherently risky, so we believe it’s essential to choose a broker that you can trust. It won’t guarantee you’ll be any more successful in your trading, but it will stop you from giving your money away to scammers!

We don’t believe that there’s any one broker that could possibly be the best forex broker in the USA for every type of trader, but our checks ensure that only the most reputable sites will be found on our pages. It’s our mission to make it easy and intuitive for you to find the forex broker that’s right for you, so we aim to give you as much information as possible. These are just some of the topics we cover:

Security and reputation

We’ve already mentioned the need for brokers to be appropriately regulated, so this is the very first check we make. All of the best USA forex brokers are proud to display their certification, awards and endorsements, but these certainly aren’t things we take for granted. We check with the relevant authorities, and confirm testimonials, so you can be sure the brokers we recommend are safe and legitimate.

Site design and usability

Experienced traders will inevitably find their way through even the most complex broker’s site, but it won’t be a happy experience. Meanwhile, newbie forex traders will be  overwhelmed by unhelpful menus and inexplicable jargon. We believe the best forex brokers in the USA are the ones that make it easy for every level of trader to find their way to where they need to be.

We’ll give you insights into a site’s overall design, but we’ll also let you know whether it’s intended for  experienced and / or newbie traders. We want you to be able to find the forex broker that’s the perfect fit for your circumstances.

Types of account

All of the best forex brokers in the USA offer a variety of accounts, so we explore the options. If you’re just dipping your toes into forex trading waters for the very first time, you’ll definitely benefit from using a demo account. Once you’ve explored risk-free trading in real time, you’ll need to choose an active account. We explain what’s available and who each account is aimed at.

Trading platforms

Sign up to a forex broker, and you’ll need to get to grips with the trading platform to get started. Many of the leading brokers operating within the US offer their own proprietary platform. If that’s the case, we test it out for ourselves to see how user friendly it is.

Many forex brokers tend to offer the popular MT4 trading platform, which will be familiar to more experienced traders. There’s almost always a choice of trading platforms, including options for desktop and mobile devices, so it’s easy to pick out the options that are right for you.

Payments, trading fees and withdrawals

A section of our forex broker reviews is devoted exclusively to deposits, withdrawals and trading fees. We start by giving you a rundown of your payment options, as well as letting you know which currencies are supported. We’ll also give you an indication of processing times and any associated fees.

Next, we let you know about any costs associated with trading that you might not otherwise be aware of. Many brokers charge an inactivity fee if you don’t keep up with your trades, for example, and if that’s the case, we’ll let you know.

And of course, you’ll need to know how easy it is to access your funds when you decide to withdraw them. We set out all your withdrawal options, together with any fees and an outline of processing times.

Customer support

Even the most experienced forex traders need a little help now and again – even if it’s only over a minor technical glitch. So we believe a forex broker should clearly signpost its support contact details, making it easy for traders to get in touch.

Many forex brokers offer a dedicated help centre, and some even offer forums, so you can ask other traders for advice. But whatever the support, you can be confident that we’ve got the full details clearly set out for you.

Our recommended forex brokers in the USA

1.

Interactive Brokers Review

Players from United States of America accepted

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The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.

2.

Robinhood Review

Players from United States of America accepted

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All investments involve risks, including the possible loss of capital.

3.

FOREX.com Review

Players from United States of America accepted

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Here’s how you find the best USA forex broker for you

If you’re not sure where to start, here’s a handy checklist of questions that will help you define your ideal forex trading experience:

What’s your risk profile?

Risk averse traders should look for a broker offering plenty of guidance, as well as low trading limits and a low-cost trading account.

Where will you be trading from?

If you’re going to be trading from a home office, using a desktop monitor, you might not be concerned as to whether your preferred broker offers a mobile app. But if you think you’ll enjoy trading when you’re out and about, a mobile site or app will definitely be on your list of essential features.

Have you tried Forex trading before?

If you already have experience of using a specific trading platform, it might be a good idea to seek out a broker offering that option. It will start you off on a familiar footing, while you develop and refine your trading strategies.

What resources will you need?

Some of the best forex brokers in the USA offer a wealth of resources to help both new and experienced traders. From helpful educational articles, videos and webinars to high-level trading tools, you can pick a trader that offers the type of experience you’re looking for.

How much will you be depositing?

Forex brokers all have their own minimum deposit requirements. If you’re only going to be indulging in very small trades, you should make sure you pick a broker who accommodates this option. Some of the best brokers offer mini and micro accounts to make this option more accessible.

What else can you trade online in the USA?

As we’ve seen, forex trading is widely available across the USA, with opportunities for everyone, from beginners through to experienced traders to explore brokers and develop new trading strategies. If the thought of forex trading has whetted your appetite, you’ll likely be hoping to discover more trading opportunities.

Within the USA you’re legally permitted to trade in stocks and ETFs. At present, CFD trading is banned, and it’s a bit of a grey area when it comes to day trading. But don’t worry! We’re on hand to guide you through the legal maze and help you to identify new trading markets.

Conclusion: Are you ready to start forex trading in the USA?

Now you’ve reached the end of our guide to choosing the best forex brokers in the USA, it’s time to get started with reading our broker reviews. Our comparison guides make it easy to narrow down your options and identify the broker that’s perfect for your needs.

But your online trading journey needn’t stop here! We’ve got invaluable information about the very best forex platforms worldwide, so wherever you find yourself, we can show you the relevant trading options. Whether you’d like to know more about getting started with online trading, or you’d like help tracking down the best forex broker in Canada, we’ve got the information you need, right here on our site!

Best Forex Broker in the USA FAQ