How Africa
Forex trading has long been a popular investment approach in the United States, allowing traders to speculate on global currency price fluctuations and profit from market volatility.
USA traders will need to find a broker that is regulated with the CFTCA, and which provides competitive pricing and extensive features in order to gain the edge in their Forex trading.
Below is a useful list of the 5 best Forex brokers that are able to accept USA traders and offer them some of the best trading conditions in the industry, according to ForexRecommend.
ATC Brokers
Overview
ATC Brokers offers the MT4 trading platform and a wide range of currency pairs and CFDs to its customers.
The MT4 Pro plugin developed by ATC Broker sets it apart from other MT4 service providers, as does the quality of its customer support.
Pros and Cons
|
Pros |
Cons |
|
MT4 Pro provides advanced trading features |
No Islamic Accounts available |
|
Tight spreads available |
Features
|
Feature |
Information |
|
Regulation |
CFTC, NFA |
|
Minimum deposit from |
$2000 |
|
Average spread from |
0.03 |
|
Commissions from |
$10 per standard contract |
|
Deposit/Withdrawal Fees |
Yes |
|
Maximum Leverage |
1:50 |
|
Bonuses |
None currently |
|
Customer Support |
24/5 |
TD Ameritrade
Overview
With TD Ameritrade, there are no commissions, the educational content is excellent, and the broker provides a user-friendly mobile app that can meet the needs of both a newbie investor and an experienced day trader who wants to open positions in a variety of asset classes.
Pros and Cons
|
Pros |
Cons |
|
Comprehensive selection of trading instruments |
Long withdrawal times |
|
Wide variety of trading platforms |
Features
|
Feature |
Information |
|
Regulation |
SEC, FINRA, CFTC, NFA |
|
Minimum deposit from |
None |
|
Average spread from |
1.2 pips |
|
Commissions from |
$0.65 per contract for options |
|
Deposit/Withdrawal Fees |
Yes |
|
Maximum Leverage |
15% margin |
|
Bonuses |
None currently |
|
Customer Support |
24/5 |
Forex.com
Overview
A user-friendly and adaptive trading platform is available to novice traders in the United States at Forex.com.
Sign-up bonuses of up to 20% of a new trader’s initial deposit are available, with a maximum incentive of $5000.
Pros and Cons
|
Pros Low trading fees Free deposit and withdrawal |
Cons High stock CFDs |
Features
|
Feature |
Information |
|
Regulation |
KNF, FCA, CySEC, IFSC, CFTC, NFA |
|
Minimum deposit from |
$100 |
|
Average spread from |
1 pip on commission-free accounts/0.1 pip on STP accounts |
|
Commissions from |
0.08% of trade value with $8 minimum |
|
Deposit/Withdrawal Fees |
$30 on withdrawals of less than $50 |
|
Maximum Leverage |
1:50 |
|
Bonuses |
20% deposit bonus |
IG
Overview
IG is a global leader in online trading, and it is now widely regarded as the world’s leading CFD provider, thanks to its broad product catalogue, competitive fees, lengthy history of company operations, and stellar reputation in the financial industry.
Pros and Cons
|
Pros Excellent customer support Advanced suite of technical indicators Secure and well-regulated trading environment |
Cons Demo account is only available to use for 30 days |
Features
|
Feature |
Information |
|
Regulation |
FCA, FSCA, CFTC, NFA |
|
Minimum deposit from |
No minimum deposit |
|
Average spread from |
0.8 pips |
|
Commissions from |
£3.00 – £8.00 per trade for all types of assets |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:50 |
|
Bonuses |
None offered |
|
Customer Support |
24/6 |
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Oanda
Overview
For many years, investors have recognized and trusted OANDA as a reputable name in the financial services business. In addition, it has an excellent regulatory record and supports third-party technologies, which adds value to its total service.
Pros and Cons
|
Pros User-friendly trading platform Low minimum deposit Low trading fees |
Cons High withdrawal fees |
Features
|
Feature |
Information |
|
Regulation |
FCA, NFA, CFTC |
|
Minimum deposit from |
None |
|
Average spread from |
1.6 pips |
|
Commissions from |
$0.01 USD per trade |
|
Deposit/Withdrawal Fees |
$1000 Sign Up Bonus |
|
Maximum Leverage |
1:50 |
|
Bonuses |
Various promotions |
|
Customer Support |
24/5 |
