If they do, they can face seriously hefty fines and get in a world of trouble. The first being regulation; it is notoriously difficult to get regulated in the US.

If a European broker gets licensed in Germany, for example, they can offer their services to people in all other EU countries - Ireland, France, Italy, Spain, etc.

Or that they might simply not be able to afford. Because of these two reasons, many brokers in Europe and other parts of the world do not accept US traders because. So, it is generally advised that US traders stick to brokers based in the US who are more equipped to deal with them.

If you do come across a broker not based in the US, check their FAQs, or send them a message to see if they accept US traders. Some of the best brokers from abroad take on US traders, but through different branches of their business , or set up a whole new company that mirrors theirs but complies with US laws and is based on US soil. Even if you move out of the US, you might still have problems with finding a broker who will accept you because you are an American citizen and you may even have to get residency in that country to start trading forex.

US traders need to ideally look for CTFC and NFA regulators if they want to stay safe. If you do use a broker that is not regulated in the USA by the NFA or CFTC, you might not be protected. For example, if a broker goes bankrupt or gets liquidated, they might be unable to protect or compensate you. And if that happens, you might lose everything you had deposited. You can check the NFA website to see their members. From there, you can search them by firm name or NFA ID.

If your chosen broker is there, it means they are regulated and can be trusted. Always check this when signing up to a broker. Getting caught not paying your taxes in the US will cause you a lot of unnecessary trouble that could end your forex trading career. US traders are not allowed to implement some forex trading strategies. For example, hedging is not allowed. Hedging is where you open two positions in opposite directions as a back up if your trade fails.

Forex traders often do this to reduce losses. When signing up to a US broker, make sure you check their policies and FAQs to see what they do or do not allow. Maximum leverage in the US is for major pairs and for all other currency pairs. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Choosing the right forex trading platform will have an outsized influence on the trading experience you will have.

If you are going to trade for hours on end, you will want a platform that has a good UX experience, a pleasing interface and reliable technical and analytical tools. In addition to a good platform, it also helps to choose the right broker for your needs. This page looks at the best US Forex trading platforms and then recommends a broker that offers this platform.

Dow Jones Select FX Select gives US forex traders a high-level, real-time view of the financial markets, and the platform includes extensive forex trading education materials to help you develop a trading strategy or improve overall performance. Partner agreements with specialist software providers give OANDA Trade users options for even more special features via APIs. Access to multi-charts online trading software means professional-level technical analysis with over trading strategies and indicators, as well as more than 20 data feeds from 10 brokers.

The CQG FX app provides access to the most recent market data and is backed with robust charting and analysis tools. US clients of OANDA who prefer to trade on MetaTrader 4 have the option to do so via a proprietary plugin offered with two designated account types: MetaTrader 4 and MetaTrader 4 Premium.

Specifically, US forex traders benefit from the following features when trading via MT4 with OANDA:. Looking for the most trusted and reliable forex trading platform? Look no further than MetaTrader4.

The platform also stands out from the competition for its emphasis on customization. Developed by MetaQuotes back in , MetaTrader 4 is also amongst the oldest trading platforms developed specifically for online trading by retail investors. The platform boasts an extensive range of technical and drawing tools to help with market analysis, as well as sophisticated EAs. Write your own indicators or rely on pre-written scripts.

MetaTrader 4 has hundreds of free and paid EAs available. In addition to this. Need even more custom options? MetaTrader 4 allows you to integrate a range of third-party software solutions to do even more with the platform. The Spread Only Pricing account has variable spreads that start at.

Core Pricing account holders benefit from a tighter minimum spread of. Americans trading forex with OANDA can choose from 68 currency pairs, including ten majors and 58 minors, exotics and crosses. With advanced technical analysis tools, tight spreads and a wide range of tradable assets, OANDA is an excellent forex broker for both experienced and beginner forex traders. With 71 forex pairs, IG Markets has one of the most comprehensive range of currency pairs of all brokers in the US.

US forex traders also pay no commission when trading on a standard account. Spreads start from 0. Easily customizable, IG offers users the option to create and save preferred layouts, as well as create custom watchlists. Where IG really stands out, however, is its charting options. Built using HTML5 the best technology for most browsers , the platform has at least 28 technical indicators and 19 compatible drawing tools for in-depth analytics.

You can even trade directly from the charts. An infinite number of timeframes are available, and traders can compare up to four in a single chart. Charts can also be split into multiple frames to better help you visualize different markets and include extra monitoring tools.

Along with watchlist and price alerts, US forex traders can opt to integrate third-party solutions like Autochartist or PIA First for trading signals. IG also offers US clients significant advantages when it comes to execution speeds. The forex market changes rapidly, and staying ahead of the curve in a high-risk, high-volatility environment can help avoid slippage which can mean the difference between big profits and big losses.

Research tools are also available such as economic calendars and Twitter. If you like your news streamed then Reuters is also available. For those who appreciate the benefits of an IG trading account, but prefer a more powerful interface for trading, IG Markets has a few options.

If your forex trading strategy includes extensive chart trading and automation, then ProRealTime is a worthy alternative. With over indicators and an unlimited number of timeframes, ProRealTime has the depth and breadth of information required by those who need a rich market analysis experience. ProRealTime also makes automation accessible via its no-code solution, as well as advanced backtesting. Note that, due to state-level regulatory restrictions, IG is not available to residents of Arizona or Ohio.

There is no minimum deposit requirement to open an account. At IG, US account holders will benefit from competitive spreads across over 70 currency pairs including:.

Leverage with IG extends to the maximum permitted by the Commodities Futures Trading Commission CFTC and the National Futures Association NFA : for major currency pairs, and for minor pairs. A great choice for beginner traders thanks to its intuitive interface and award-winning proprietary platforms, IG also has everything a more advanced trader could want when it comes to drawing tools and indicators. Traders who take the time to look beyond the no-frills interface will find a surprisingly powerful collection of analytical tools.

Those on a budget will likewise appreciate the tight spreads and more than reasonable trading costs and ultra-fast execution thanks to an ECN-like environment with STP. View Forex. com has developed some of the most powerful, flexible analytical tools available.

US forex traders enjoy access to the same comprehensive suite of charts and calculators as their international counterparts, including automated market analysis via Trading Central, Forex.

Suitable even for professional traders, Forex. Users have the option to save preferred chart types and variables for future use, as well as compare multiple financial markets with overlays.

Even beginners will appreciate Forex. com ensures a consistent trading experience. The ability to customize virtually every aspect of a chart — from indicators to colors to size — ensures maximum clarity and legibility for even novices trading on a demo account.

In addition to Trading with Forex. com, traders with Standard and Commission accounts can choose between MetaTrader 4 and NinjaTrader. Opting for MetaTrader 4 has several advantages, including access to EAs to automate your trading and additional indicators beyond those native to the platform.

TradingCentral for extra charting and Reuters for news services and market research are also available. If your trading strategy favors scalping, however, NinjaTrader 8 may be the better bet. In addition to depth of market views, the trading platform offers trading directly from charts, one-click trading, simultaneous orders across accounts and cancellation at different prices.

NinjaTrader also simplifies order entry with hotkeys and provides a range of order types, such as order-cancels-order OCO. Used by over , users, this platform empowers you with top-notch charting and analysis. These indicators are supplemented with Market Analyzer, a feature unique to NinjaTrader that identifies opportunities in real-time.

The platform does provide all the tools you need to build automations — and unlike MetaTrader 4, does not require EAs. Traders familiar with C can write their own automation script for custom indicators using NinjaScript, while those with less technical savvy have access to a point-and-click, no-code option. com offers US forex traders a choice of two trading account types: Standard and MetaTrader 4.

Both accounts carry no commission costs but also have limited trading platform options. Specifically, US clients will need to choose between the Forex. com proprietary trading platform, MetaTrader 4 and NinjaTrader.

US forex traders will want to consider the costs and fees associated with each account type before proceeding. Commission and STP Pro accounts carry commission costs for each standard lot of thousand that apply when you open or close a position. That said, commission costs decrease the more you trade, in keeping with an account designed for professional traders. com trading platforms and trading view. CFD Trading.

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Account Minimum. Pairs Offered.

Forex trading is a profitable business if you know how to go about it. While it is true that many people are recording regular losses in Forex trading, it is also true that you can make a profit from it if you put certain things in mind when trading Forex.

For you to be a successful trader, you need to choose your broker carefully. A Forex broker is about the most important entity in Forex trading. Are you a united states Forex trader and you want to make an impact in your Forex trading endeavor? Then it is in your best interest to choose only a reliable Forex broker. There are so many Forex brokers in the USA and they all claim to be reliable.

However, not all of them are as reliable as they claim. So, you need to choose carefully so that you can have the kind of result you desire in Forex trading. The particular broker you register with can determine if you make a profit in Forex trading or not. So, it is in your best interest to consider all options before choosing a Forex broker. In this write-up, we are going to educate you about how to choose the right Forex broker in the USA. With the help of the information here, you can avoid making the wrong choice.

If you choose wrongly, it can cause you to lose a lot. Before you register with any of the brokers in the United States, you need to first find out if the broker is regulated or not.

You should never register with any broker that is not regulated. You will be worse for it at the end of the day. The body responsible for regulating Forex brokers in the United States is the Commodity Futures Trading Commission CFTC and the National Futures Association NFA.

You should never register with any broker that is not a member of the two organizations. The regulation ensures that your funds are safe. Even if the broker goes bankrupt, nothing will still happen to your funds. So, you are in safe hands if you register on a broker that is regulated by these organizations. According to the previous paragraph, the NFA and the CFTC are the bodies that regulate Forex brokers in the United States.

Unfortunately, there is no international organization that regulars the Forex market. However, individual countries set up regulatory agencies to monitor the Forex market within their boundaries. The CFTC is the acronym for Commodities Futures Trade Commission. The agency started work in Its focus is to protect the interest of individuals in commodities and futures trading in the United States.

The currency market is also under the futures. So, the duty of the CFTC also has to do with the protection of Forex traders. This way, Forex brokers the USA will never be able to take advantage of the traders. A lot of changes occurred in the CFTC over the years.

The purpose was to improve how the organization works. The body also creates a level playground for every Forex trader in the United States. The body publishes the COT every Tuesday. COT stands for the Commitments of Traders Report. All Forex traders must only register with Forex brokers USA under the monitoring of the CFTC and its sister body, the NFA. The NFA regulates the activities of Forex brokers in the United States.

The organization started in Since inception to date, the body carries out the regulation of the futures market in the United States.

The body collects dues to enable it to sustain itself. This means that it does not depend on the government for funding.

The NFA is more or less the Little Brother to the CFTC, which is the Big Brother. The missions of the NFA are:. Every of the Forex brokers USA needs to register with the CFTC and be a member of the NFA. NFA carries out the process of registration for the CFTC. The following are the members of the NFA:. Anyone that wants to be a broker in the futures market needs to register first with the NFA. Any broker that does not have such a registration is not worthy of your attention.

As mentioned above, make sure that the broker is a member of the NFA and also under the regulation of the CFTC before you register with the broker. This is one point that every USA Forex trader needs to bear in mind. Even if the broker claims to be under the regulation of the CFTC, you should not take its word for it. Rather, you need to first investigate that broker to know if its claims are true.

How can you prove the broker to be right or wrong? All you have to do is to verify the registration of the Forex brokers USA with the CFTC. Also, verify its membership with the NFA. Membership of the NFA is never enough.

You should also check if the broker records disciplines by the NFA. The disciplinary history will tell you if the broker ever broke the law of the organization or not. You can verify all the details from the NFA website. When on the website, simply check the information section for brokers to know about the broker in question.

You can even give the NFA a call via You will never even have to pay a dime to check the details on the broker. You can do this for free by using BASIC. However, you can only use it to research Forex brokers that operate in the United States. There is rarely any of the Forex brokers USA that has never had a problem with its clients before. It is not about not having a problem; it is about being able to solve the problem fast.

When there is a problem or disagreement between you and your broker about your Forex trading account, you should not hesitate to contact them. Look for their contact details and discuss the problem with them. Try as much as possible to resolve the issue without hassle. Send mails to the broker and you can even call them if their telephone line is available. If all efforts fail, you can then contact the CFTC or the NFA.

You can also contact the NFA only. Both of them have a great program that can help to resolve monetary disputes. They can, therefore, resolve that issue that you are having with your Forex trading account. The arbitrary program of the NFA is your best helpmate in this regard. You can benefit from this program if you feel that you get unfair treatment from the broker.

The program can help to resolve your issue if it leads to the loss of your funds. You can call the NFA to file a case against your broker.

Aside from phone calls, you can also file a case by visiting the Dispute Resolution Section of the NFA website. If the NFA is unable to resolve the case, you ocean then take it to the CFTC. The CFTC reparation program can help out in this regard. You can file the reparation complaint by visiting the Office of Proceedings on the CFTC website. You can equally call this office to file the case. The CFC phone number is The ease of deposit and withdrawal is very important. Find out if the broker does not complicate matters before you register there.

Also, find out if the broker provides several deposit methods. A good broker will process your deposit immediately. A good broker will also make it very easy for you to withdrawal your money. There is no reason why your withdrawal should be delayed. The withdrawal should also not be under any unfavorable condition. If any broker places conditions on unhelpful withdrawal, you should steer clear of such a broker.

You should take the time to read reviews about the broker also to determine if the organization is reliable or not. However, only read such Blackbull Markets reviews from reliable sources. Before you register with any of the Forex brokers USA , you should take some time to read the terms and conditions.

Unfortunately, many Forex traders fail to do this. The problem is common among beginners. The terms and conditions will help you to know if that broker is the best for you or not.

Exness 8. Impact Dashboard helps you identify which stocks are best for Environmental, social and governance ESG trading. If all efforts fail, you can then contact the CFTC or the NFA. Otherwise, the trading talent you develop will be meaningless, and your once-promising trading career will be shattered completely. The CQG FX app provides access to the most recent market data and is backed with robust charting and analysis tools. Top 10 US Brokers. The CFTC reparation program can help out in this regard.

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