Connect with us

Business

Top 5 Forex Brokers that Accept USA Traders

There are many forex brokers that do not cater for traders based in the United States. Forex.com is a US, UK, and Japan-based STP, ECN, and DMA broker offering the trade in more than 300 financial instruments spread across several asset classes. Established in 1989 and headquartered in the United States, Oanda offers its comprehensive solutions to traders from around the world.

Published

on

While there are numerous forex brokers that offer their services to traders from around the world, there are many that do not cater for traders based in the United States. One of the main reasons for this is the stringent regulatory and legal requirements imposed by the United States for such services offered.

However, US traders who are looking for the best forex brokers that accept and welcome them, need not look further than the list below.

IG

IG is a well-regulated and reputable broker that has offices around the world. IG offers US traders with a range of markets which can be traded through user-friendly, powerful trading platforms in addition to offering a range of trading tools, education, and reliable trade execution speeds.

Pros and Cons

PROSCONS
Multi-regulatedLack of online payment processors for account funding
More than 17,000 tradable instruments 
Variety of trading tools 

You might like: When robots meet humans in forex trading

Forex.com

Forex.com is a US, UK, and Japan-based STP, ECN, and DMA broker offering the trade in more than 300 financial instruments spread across several asset classes. With Forex.com, traders can expect exceptional trading conditions, fast trade execution speeds, and low trading costs.

Pros and Cons

PROSCONS
Well-regulatedLimited funding options
Execution scorecardFixed spreads not offered
Low minimum deposit requirement 

Oanda

Established in 1989 and headquartered in the United States, Oanda offers its comprehensive solutions to traders from around the world. Traders can expect the trade-in of more than 10,000 financial instruments, a powerful proprietary trading platform through which trades can be executed seamlessly, a team of expert analysis, and advanced, helpful trading tools.

SEE ALSO  Why you should make catch-up contributions to your retirement plan

Pros and Cons

PROSCONS
Multi-regulatedSocial trading not supported
Advanced trading tools offeredRestricted leverage
Flexible trading platformsFixed spreads not offered

Nadex

Established in 2009, regulated by the CFTC, and headquartered in the United States, Nadex is the largest binary option exchange in the united states that offers flexible trading solutions across forex, commodities, and stock indices.

When trading through Nadex, US traders can expect user-friendly trading platforms, competitive commission fees, the option for mobile trading, a vast range of educational material, and a secure trading environment.

Pros and Cons

PROSCONS
Strict regulationCFDs and cryptocurrencies are not offered
Client funds are kept in separate accountsLimited forex pairs
Mobile trading offeredLimited funding options

TD Ameritrade

Established in 1975, TD Ameritrade is a reputable and popular US-based Market Maker broker and exchange that offers a variety of investment and tradable financial products. In addition, traders are also offered with the use of powerful trading platforms, a range of trading tools, and an abundance of educational sources, material, and tools.

Traders are provided with margin trading, additional cash management services, and commission-free trading on stocks, ETFs, and options. In addition, traders can also expect dedicated, friendly customer support.

Pros and Cons

PROSCONS
Strict regulationCFDs are not provided
Wide range of trading and investment products offeredRestricted leverage
Advanced trading toolsLimited funding options

Ready to start trading? Open a FREE TRADING account here

(Featured image by MayoFi via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

Andrew Ross is a features writer whose stories are centered on emerging economies and fast-growing companies. His articles often look at trade policies and practices, geopolitics, mining and commodities, as well as the exciting world of technology. He also covers industries that have piqued the interest of the stock market, such as cryptocurrency and cannabis. He is a certified gadget enthusiast.