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Top 5 Forex Brokers in USA

Top 5 Forex Brokers in USA

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Last time, we published a list of regulated forex trading brokers in the United States.

Now, we want to further compare and know the best forex brokers for US clients out of those ones listed.

As mentioned in our previous post, in order to operate in the US, a brokerage company must be registered with the Securities and Exchange commission (SEC), NFA and CFTC.

These organizations are located in the United States of America and issue strict rules and regulations that must be respected by all US brokers. You’ve probably come to this page because you’re looking to make the best choice out of the wide range of brokers out there.

As a US citizen, you’ve probably realized that your choice of  brokers are limited than those of international traders because USA brokers are strictly regulated which is designed to protect the interest of the traders.

NFA regulated US brokerage companies must conform with the leverage and keep accurate records of every trading activity by all their clients. Some of the major forex trading brokers registered in the USA are also listed in NYSE which seems to boost confidence among clients. Despite all the rules and regulations, there is a good number of NFA/CFTC regulated brokers registered in the United States that offer reliable services and user-friendly trading platforms.

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Review and comparison of the Best Forex Brokers in US

I’ve researched among the brokerage firms in USA  and found that the following five are the best.  If you’re a trader in the States, either a beginner or professional, don’t fail to trade with any of these companies. They’ve been ranked according to traders’ choice and majority can’t be wrong!

 

#1

       Alpari          

#2

FXCM   

#3

Dukascopy

#4

Etoro

#5

Oando

Year Founded19981999199820071996
Main LocationNew York, USANew York, United StatesGeneva, SwitzerlandCyprusToronto, Canada
RegulatedYesYesYesYesYes
ECN BrokerYesYesYes—-—-
Offers Forex TrainingYesYesYesYesYes
Minimum Deposit$500$100$100$50—-
Minimum Lot Size1.0 Standard Lot—-1.0 Standard Lot1.0 Standard Lot—-
Lowest Spread 1 Pip1 Pip1 Pip2 PipsVaries
Number of Currency Pairs58+—- 35 57+ 55+
Maximum Leverage50:1100:1 50:1 400:1 50:1
Meta Traders (4 or 5)YesYes3rd Party Platform —-Yes
Mobile TradingYesYesYesYesYes
Credit Card FundingYesYesYesYesYes
Funding by CheckYesYes —-YesUS Only
Paypal FundingYes—-—-YesUS Only
Funding by ACH or EFT—-YesYes —- —-
Wire TransfersYesYesYesYesYes
E-Currency Funding and WithdrawalsYesYes —-Yes —-
Telephone SupportYesYesYesYesYes
Email SupportYesYesYesYesYes
Live Chat SupportYes, Fantastic SupportYes, Good SupportYesYesYes
Offers Demo trading YesYesYesYesYes
Accepts US ClientsYesYesYesYesYes
Accepts Non US ClientsYesYesYesYesYes

The above table clearly displays all the features of the top 5  in United States of America. From the table you can see that AlpariTM   is in the #1 spot for the best while FXCM follows.

This ranking is based on the majority of votes by US traders on the specific features of the broker like quick and responsive support, spread, regulations and much more.

While some traders may consider Etoro as their favorite broker because of the amount of funds needed to kick start live trading at Etoro, most of them prefer Alpari because of the easiness, simplicity of most of it’s trading facilities.

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If you’ve not already known, you can see that most of these companies that accept US clients don’t offer too much leverage for trading because the brokers are being regulated by major financial authorities like the SEC and CFTC. This helps minimize the risk involved when trading currencies in the market.

 

 

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