Which Forex brokers accept US clients?

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Which Forex brokers accept US clients?

Do you want to predict that the euro (EUR) currency would come up against the US dollar (USD) in value? If so, you would need the EUR/USD exchange rate to trade. The Forex market is the world's leading and most liquid market, covering any global currency where dealing takes place 24 hours a day, five days a week.

You should have an online broker to transact forex. Exchange with a reliable Forex broker is essential for success in monetary markets around the world. You may have unique demands as a currency trader or investor relevant to which platform, device, or analysis requirements. Identifying your trading style will help you figure out which Forex broker is best for you.

Forex trading (currencies) is popular among Forex investors in the United States. Before any Forex broker can accept US Forex traders as clients, the financial control units must verify them as Retail Foreign Exchange Dealers (RFED). These verification units are the Commodity Futures Trading Commission (CFTC) and also the National Futures Association (NFA) as a Futures Commission Merchant (FCM).

Over the previous decades, America's Forex sector has grown as one of the world's highly regulated markets. Rules applied and supported by federal laws made it much more difficult for brokers as well as traders to continue operating on the Forex market in the United States. Only three brokers are currently still active in the US Forex market: Oanda, GAIN Capital LLC (Forex.com), and TD Ameritrade. The strangulating environment placed by the regulators, driven by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, has either put many out of service or compelled them to temporarily close.

There have only been triple rational reasons to look for a broker welcoming US traders:

  • If you are a resident in the United States, so only these corporations can give you online dealing.
  • If you have plans to move to the US and once that occurs, you don't want to alter brokers.
  • If you are searching for a Forex broker having a high degree of deposits protection and regulatory scrutiny because brokers confirmed by the jurisdiction of the United States are commonly extremely reliable in this regard.

How to confirm the certificate of CFTC?

The first step to recognize whether a Forex broker is CFTC-registered and NFA-regulated is to distinguish the NFA Identification number from their declaration at the end of the broker's US webpage. As an example, here is the primary disclosure script from the FOREX.com website: "FOREX.com is an FCM and RFED member registered with CFTC and NFA (NFA # 0339826)."

Then, take a glance to confirm the current condition of their ID number on the NFA database. Here is the official NFA web page of FOREX.com.


The best Three in the US:

Here a list of CFTC registered brokers have been provided and the best Forex brokers in the US have been ranked by their Trust Score:

  • IG - The Strongest Broker of 2020

Regulated and trusted globally, IG provides traders with a comprehensive list of trading products, excellent exchange and research tools, industry-leading education, and competitive rates. That awesome all-around history makes IG the best broker overall in 2020. (76 percent of CFD retail accounts are losing money.)


  • TD Ameritrade Forex- Excellent platform for traders, US only

With almost 80 currency pairs trading across a multitude of tools and analysis available, the platform of TD Ameritrade offers a competitive experience for the US-based Forex market.


  • com - Top websites and offers

FOREX.com offers an outstanding trading platform for Forex traders and CFD investors around the world. FOREX.com provides traders at all levels of experience with competitive rates, full-feature trading platforms, extensive market intelligence, and a robust mobile app. (69 percent of CFD retail accounts lose money.)

Some of the regulated Forex brokers in the US:

Below is a list of Forex brokers who deal with the American traders.  These brokers are either registered with NFA (and regulated by CFTC) or, are offshore corporations that serve to US traders. According to the regulations in the US market on Forex, only properly licensed brokers could propose services to US citizens. The same regulations heavily limit their market access. To comply with the regulatory framework for the American Forex, a broker must provide leverage not exceeding 1:50 for the exchange rate (even lower for minor and exotic pairs) and endorse no-hedging platforms. A licensed broker also struggles to retain at least $20 million of investments and fulfill very rigorous criteria of monitoring, supervision, and risk management. This leads to higher fund security and may seem quite restrictive to many Forex traders. You can find Thirty brokers listed in the following table.

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