5 best USA forex brokers
Since the US economy is the largest in the world and Forex is the most active financial market, there should be no shortage of options for Forex brokers in the United States.
That said, choosing the best FX broker is not as simple as you might assume due to considerations like trading costs and regulation. Read on to discover the 5 best Forex brokers in the USA.
1. Oanda
OANDA is notable for its trustworthy global reputation and cutting-edge market research. It has a solid history with regulators, and its entire offering is bolstered by its compatibility with features developed by other companies.
OANDA’s flagship Trade mobile app is among the best platforms in this space in 2023 thanks to its user-friendliness, extensive market analysis, and superior charting features. Due to its regulations Oanda does not offer a Forex no deposit bonus in the US.
OANDA provides both its own Trade app and the widely used MetaTrader 4 (MT4) software by MetaQuotes Software Corporation.
| Forex bonus offered | No |
| Demo account | Yes |
| Minimum deposit | No |
| Withdrawal fees | None |
| Tier-1 licences | 6 |
2. Ally Invest
Ally Invest has an average level of risk and is regarded as a reliable US stock broker. Ally Invest, the parent company of Ally Bank, is a publicly traded company on the New York Stock Exchange.
| Bonus offered | Yes |
| Demo account | No |
| Minimum deposit | Not indicated |
| Withdrawal fees | None |
| Cost per stock trade | USD0 |
3. Forex.com
Forex.com is a reliable, well-known broker that serves the international financial markets by providing CFDs, forex trading facilities, user-friendly trading conditions, educational resources, and research tools.
Forex.com is a wonderful choice for traders who want to develop their independence as traders and are willing to put their money into more conventional trading strategies.
Traditional service is at the heart of what Forex.com does best. To generate passive income from investments is outside the scope of these activities.
Traders that are just interested in the foreign exchange market will find the company to their liking. You can’t say that the broker doesn’t offer the chance of passive income. Affiliate programmes are provided by the company.
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| Bonus offered | Welcome Bonus offered |
| Demo account | Yes |
| Minimum deposit | USD100 |
| Withdrawal fees | None |
| Trading platforms | MT4, MT5, Proprietary |
4. Interactive Brokers
The trading conditions provided by Interactive Brokers are both user-friendly and trustworthy. Shares, foreign exchange, commodities, cryptocurrencies, exchange traded funds (ETFs), options, and indices can all be traded with Interactive Brokers, in addition to a wide range of other financial instruments.
Interactive Brokers sophisticated order type setups and powerful trading capabilities appeal to experienced traders but may be too much for newcomers.
| Bonus offered | No |
| Demo account | Yes |
| Minimum deposit | None |
| Withdrawal fees | None |
| Trading platforms | Proprietary platform |
5. TD Ameritrade
TD Ameritrade is a reliable broker that offers zero commissions on transactions (in both U.S. dollars and South African rand), cutting-edge trading platforms, first-rate educational resources, and a comprehensive range of brokerage services.
| Bonus offered | Referral bonus |
| Demo account | Yes |
| Minimum deposit | None |
| Withdrawal fees | None |
| Trading platforms | Proprietary platform |
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