Table of Contents

Best US Forex Brokers – Accepting US Traders

 

In the US, we do not have a wide variety of the best US forex brokers.

The foreign exchange market is more active than any other financial market in the world, with over $5 trillion swapping hands every day.

It will sound strange that forex brokers accepting US traders are just a handful. Best US forex brokers are rare indeed.

This guide is focused on assisting US traders in finding the best US forex brokers that accept US traders.

However, forex traders are strongly advised to stick to brokers regulated by a high authority regulator. A list of forex brokers accepting us traders if made up of trusted US brokers.

Best US forex brokers; free below.

There are many countries with such regulatory bodies and the top forex trading brokers are regulated with one or more of these. Regulation is the first consideration traders should take into account before choosing a broker.

There are important aspects to consider before choosing the best US forex brokers that accept US clients. 

Best US Forex Brokers

1. PaxForex

2. FxChoice

3. AAFxTrading

4. EagleFX

 The above Forex brokers accepting US traders have been in the forex trading business for a long time; they are there reputable.  

Trading forex (currencies) in the United States (US) is popular among fx traders. Before any fx broker can accept US forex traders as clients, they must become registered as Retail Foreign Exchange Dealer (RFED) by the financial regulatory body, the Commodity Futures Trading Commission (CFTC) and also regulated by the National Futures Association (NFA) as a Futures Commission Merchant (FCM).

The best US forex brokers (forex brokers accepting us traders) are highly regulated as opposed to other brokers out there. 

Many brokers appear very similar at first, but there are subtle differences, which make each broker uniquely suitable for a different type of trader.

The best US forex brokers list (forex brokers accepting US traders) is very vital.

All of the following brokers are regulated and all of them offer demo accounts. These are the first prerequisites in narrowing the list down to the broker that is best for you.

Risk Warning: Trading Forex and CFD is Risky; Your Capital is at Risk.

 

Always remember that Forex trading is a risky business and you might win money or even lose all your money.

Forex brokers accepting US traders should adhere to the risk management principles and disclose their risk percentages on the website.

Brokers Accepting US traders

 

Number 1 on the list of Forex brokers accepting US traders is Paxful. PaxForex was founded by a team of professional traders with the help of investors. The owners of the company have extensive experience in Forex, stocks, options, and CFDs markets as traders and dealers.

PaxForex is one of the Forex brokers accepting US traders. They are obviously one of the best US forex brokers.

They have gained experience by working in managerial positions with the largest brokers, who are now their major competitors.

Even though they are not a company of a big size, they are big enough to always meet their customers’ demands on time and small enough to provide unique products and services in the industry. If you are looking for brokers accepting US traders, look no further.

As traders, they know by experience exactly what their clients deserve. Providing services and trading in the financial markets is all they do.

PaxForex’s knowledge and experience have provided them with the opportunity to create for you the fairest, most flexible, and most stable environment for trading. They truly are one of the best US forex brokers!

Here are the features of PaxForex at a glance:

Forex brokers accepting US traders - Broker regulation

 

PaxForex is a trading name of Laino Group Limited Which is Registered by (FSA) Financial Services Authority in St.Vincent & the Grenadines. 

Registration Number 21973 IBC 2014 1825, Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent, and the Grenadines.

Best US forex brokers should be regulated.

Forex brokers accepting US traders - Trading Platforms

 

Metatrader 4 (MT4 )

MT4 MultiTerminal

Mobile trading

 

Best US forex brokers should have a diverse platform choice.

Forex brokers accepting US traders - Trading Instruments

 

Currency Pairs (Forex trading)

Stocks

Spot Metals

Cryptocurrency CFDs

 

Best US forex brokers should have multiple instruments.

Forex brokers accepting US traders - Trading Tools

 

Economic Calendar 

Educational Guides

Educational Videos

Forex Calculator

Forex Glossary

Best US forex brokers should have useful trading tools to assist you while trading.

Forex brokers accepting US traders - Social Trading

 

Copy-trading (Copy trading involves copying trades of the best performing Forex traders without knowing how to trade and even doing any research – Let the experts do all the work for you). 

PaxForex does not have its own Social Trading platform.

Forex brokers accepting US traders - Market Analysis

 

Market Outlook

Forex News 

Market Analysis Videos

Market Analysis Team

 

Forex brokers accepting US traders - Trading Accounts

Account type Cent Mini Standard VIP
Min. Spread 2.4 1.4 0.4 0.4
Personal education: + +
Recommended deposit: $100 $500 $5 000 $50 000
Minimum deposit: $10 $100 $2 000 $10 000
Account currency USD USD, EUR, GBP USD, EUR, GBP USD, EUR, GBP
Max. leverage: 1:500 1:500 1:500 1:500
Min. volume lot: 0.0001 0.01 0.1 0.01
Lot size 1 000 100 000 100 000 100 000
Gold and silver: + + + +
Shares + +
Max. lot size:
Margin call 55% 10% 10% 10%
Stop out: 20% 5% 5% 5%
VPS by Request $25/mon $25/mon $25/mon free
Priority execution +
Personal manager: + +
Swap free: +* +* +*

*Upon the client’s request (for Muslims only)

Deposit Methods by one of the best US forex brokers

  • Bank Transfer
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • PerfectMoney
  • WebMoney
  • Qiwi
  • FasaPay

Among the list of the best US forex brokers, we have FxChoice. FxChoice has been in the Forex business since August 2010. Their founders and managers have decades of experience in the field. All clients’ funds are held in segregated accounts, absolutely separate from their corporate accounts. This, as well as the strict regulations they follow, ensures the security of your funds.

FxChoice is one of the forex brokers accepting US traders. 

FxChoice places a special focus on making sure their clients’ funds are as safe as possible. Their mission is to provide clients with a super safe and reliable trading environment while they can focus on making trading profits. The best US forex brokers should have an excellent trading environment. 

FxChoice’s internal risk management department thoroughly monitors every type of operation executed by the management. This ensures compliance with obligations demanded by both regulators and policy. They truly are one of the best US forex brokers.

FxChoice allows clients to use any EAs, in fact, they have a special environment for EA trading. Need to buy an Expert Advisor or Forex trading Robot? Click here.

Forex brokers accepting US traders such as FxChoice should let users install Expert Advisors (EAs), for automated trading experience. 

Here are the features of FxChoice at a glance:

Forex brokers accepting US traders - Broker regulation

 

FX Choice Limited is authorized and regulated by the IFSC (Licence number: IFSC/60/191/TS/19)

FX Choice Limited registration number: 105,968

Best US forex brokers should be regulated.

Forex brokers accepting US traders - Trading Platforms

 

Metatrader 4 

Metatrader 5

Web Terminal Metatrader

Mobile trading

 

Best US forex brokers should have a diverse platform choice.

Forex brokers accepting US traders - Trading Instruments

 

Forex CFDs

Crypto CFDs

Index CFDs

Commodity CFDs

Best  US forex brokers should have multiple instruments.

Forex brokers accepting US traders - Trading Tools

 

MQL5 signals

Myfxbook autotrade

Expert Advisors

VPS

Pips+ for Pro Accounts

Best US forex brokers should have useful trading tools to assist you while trading.

Forex brokers accepting US traders - Social Trading

 

What is AutoTrade or Social Trading? Put simply, it is a mirroring service by the trading community portal Myfxbook that allows you to mimic the trades of other, more established traders.

All you need to do to start using AutoTrade is to link your funded live account with your Myfxbook profile. Once you have done so, simply subscribe to your favorite traders. When they make a trade, it will be automatically replicated on your account.

Forex brokers accepting US traders - Market Analysis

 

Financial Instruments information

Economic calendar

Market Analysis information

Earnings releases

Forex brokers accepting US traders - Trading Accounts

 

Classic Account Pro Account
Minimum deposit $100 $100
Tight spreads starting from 0.5 pips 0 pips
Minimum lot size 0.01 lots (1 000 units of base currency) 0.01 lots (1 000 units of base currency)
Maximum lot size FX market – 1000 lots
Cryptocurrencies – 5 lots
FX market – 1000 lots
Cryptocurrencies – 5 lots
Commissions none $3.5 per notional amount of $100 000 *
Swap points according to market according to market
Maximum leverage 1:200 1:200
Margin level for hedge/lock positions 50% 50%
Execution NDD, Market NDD, Market
Margin call/ Stop out 25/15 100/80
Tradable currency pairs 38 38
Spot metals Gold, Silver Gold, Silver
Other instruments CFD – Indices, Metals, Commodities, Energies, Cryptocurrencies CFD – Indices, Metals, Commodities, Energies, Cryptocurrencies
Any EAs permitted

Deposit Methods from one of the best US forex brokers

  • Bank Transfer
  • Visa
  • Mastercard
  • Bitcoin
  • Bitcoin cash
  • Skrill
  • Neteller
  • Litecoin
  • Ethereum
  • Ripple 
  • Tether
  • FasaPay
  • Perfectmoney
  • Paysafe card
  • Astropay
  • Poli
  • Vload
  • Airtm
  • SticPay
  • AdvCash

 

Click here to go to FxChoice.

 

Best US forex brokers - Accepting US traders 2020 6

Among the best US forex brokers; meet AAFXtrading. The company offers Foreign Exchange and CFD trading on multiple trading platforms, including the globally popular Metatrader 4 platform. 

AAFXTrading.com is a market leader when it comes to customer service, offering its clients top-notch products and services in over 20 different languages.

AAFXtrading is one of the best forex brokers accepting us traders. 

The company’s focus on superior service has been frequently recognized by the industry. AAFXTrading.com was the recipient of the Malaysian investor show winning the best broker of Asia 2013.

AAFXTrading.com is a fully licensed and regulated company.

Forex brokers accepting US traders - Broker regulation

 

 

AAFXTRADING COMPANY LTD is Incorporated in Saint Vincent and the Grenadines with registration number 22916 IBC. 

AAFXTrading.com is incorporated in Malaysia and registered under the company of AA business solutions SDN BHD.

AAfxtrading.com is operated by AAFX trading Capital in Hongkong and The Company’s legal and correspondence address Two Exchange Square 8 Connaught Place Central, Hong Kong.

Best US forex brokers should be regulated.

Forex brokers accepting US traders - Trading Platforms

 

Metatrader 4 (MT4)

Metatrader 5 (MT5)

MT4 WebTrader

Mobile Trading apps

Best US forex brokers should have a diverse platform choice.

Forex brokers accepting US traders - Trading Instruments

 

Currency Pairs (Forex trading)

CFD on Shares

Cryptocurrency CFDs

Spot Metals

Energy

Indices

Best US forex brokers should have multiple instruments.

Forex brokers accepting US traders - Trading Tools

 

Economic calendar

VPS Hosting

Forex Calculator

Best US forex brokers should have useful trading tools to assist you while trading.

Forex brokers accepting US traders - Social Trading

 

No Copytrade feature.

But still, it is one of the forex brokers accepting us traders.

Forex brokers accepting US traders - Market Analysis

 

Market Analysis information

Economic news

Forex brokers accepting US traders - Trading Accounts

FIXED ACCOUNT ECN ACCOUNT VIP ACCOUNT
Platforms MT4 / MT5 Platforms MT4 / MT5 Platforms MT4 / MT5
Base Currency USD,GBP,EUR Base Currency USD,GBP,EUR Base Currency USD,GBP,EUR
Contract Size 1 lot = 100,000 Contract Size 1 lot = 100,000 Contract Size 1 lot = 100,000
Leverage 1:10 to 1:2000 ( 50$ – 20000$) 1:10 to 1:1000 (20000$ +) Leverage 1:10 to 1:2000 ( 50$ – 20000$) 1:10 to 1:1000 (20000$ +) Leverage 1:10 to 1:2000 ( 50$ – 20000$) 1:10 to 1:1000 (20000$ +)
Spread on all majors As low as 2 Pip Spread on all majors As low as 0.6* Pip Spread on all majors As low as 0.4* Pip
Spread Condition Fixed Spread Condition Variable Plus Spread Condition Raw Spreads
Commission Best US forex brokers - Accepting US traders 2020 7 Commission Best US forex brokers - Accepting US traders 2020 7 Commission Best US forex brokers - Accepting US traders 2020 7
Maximum Open/Pending order no limit Maximum Open/Pending order no limit Maximum Open/Pending order no limit
Lot restriction per ticker/Order 1000 lots Lot restriction per ticker/Order 1000 lots Lot restriction per ticker/Order 1000 lots
EA Allowed Best US forex brokers - Accepting US traders 2020 10 EA Allowed Best US forex brokers - Accepting US traders 2020 10 EA Allowed Best US forex brokers - Accepting US traders 2020 10
Swap Free Best US forex brokers - Accepting US traders 2020 10 Swap Free Best US forex brokers - Accepting US traders 2020 10 Swap Free Best US forex brokers - Accepting US traders 2020 10
Minimum Deposit $100 Minimum Deposit $100 Minimum Deposit $20000

Deposit Methods from one of the best US forex brokers

  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Western Union
  • WebMoney
  • PerfectMoney
  • Payza
  • MoneyGram
  • FasaPay

Forex brokers accepting US traders should indeed have a wide variety of deposit methods for your convenience. 

Best US forex brokers - Accepting US traders 2020 16
Best US forex brokers - Accepting US traders 2020 17

Sign up with EagleFX to join thousands of traders currently benefiting from high leveraged full STP/ECN CFD trading with zero conflict of interest through tier one liquidity. EagleFx is one of the best US forex brokers.

EagleFx is one of the forex brokers accepting US traders. 

Forex brokers accepting US traders - Broker regulation

 

Not regulated.

Best US forex brokers should be regulated.

Forex brokers accepting US traders - Trading Platforms

 

Metatrader 4 (MT4) for Windows, Mac, Android and iOS.

WebTrader

Best US forex brokers should have a diverse platform choice.

Forex brokers accepting US traders - Trading Instruments

 

Forex

Metals

Indices

Commodities

 

Best US forex brokers should have multiple instruments.

Forex brokers accepting US traders - Trading Tools

 

Economic News

 

Best US forex brokers should have useful trading tools to assist you while trading.

Forex brokers accepting US traders - Social Trading

 

None. It does not have its own copy-trading feature.

Forex brokers accepting US traders - Market Analysis

 

News feed

Industries resources

Forex brokers accepting US traders - Trading Accounts

There is only one main account type available to EagleFX clients, so do not expect to find any tiered deposit requirements or fluctuations in rates or perks.

Corporate and Islamic accounts are available for those who need them. As for spreads, this broker offers some of the lowest that we’ve seen to date. On the popular EUR/USD pair, a spread of 0.1 pips is not uncommon.

Spreads within the platform are floating, but the overall average is a low 0.3 pips, which is much better than average.

Deposit Methods from one of the best US forex brokers

  • Bank Transfer
  • Visa
  • Mastercard
  • Bitcoin

Why don’t many brokers accept US traders?

It has all started with the Great Financial Crisis (GFC). Those of you who have watched the documentary Inside Job or the movie Big Short already got an idea of what I am going to say about strict rules in the US about leveraged investment. 

Brokers with a passion for big profit have created exotic investment products that promise very high returns for the clients. The clients are not aware of the risk that they are taking by buying those derivative products due to their complexity.

After the big US banks went bust at the height of the financial crisis in 2008 – 2009, watchdogs like CFTC, SEC, and NFA decided to tighten the screws in the financial sector as a solution to the moral hazard problem. Leveraged products got its lion share on these new stricter financial rules and forex was one of those scapegoats.

Thanks to those stricter rules, the leverage is lower compared to other jurisdictions, and the required capital to operate in the USD is much higher compared to its peers. Thus profit prospects are not that attractive and we don’t see a lot of forex brokers based in the USD. This is one of the reasons why there are fewer Forex brokers accepting US traders. 

Factors In Choosing the best US Forex Broker – Forex brokers accepting US traders

 

  • Regulation is a critical factor when choosing a broker. A regulated broker can be given the benefit of a doubt that all is well.
  • Account Types are very vital; see if a demo account is available. This will assist you during training.
  • Trading Platform is also very important; remember you need to trade on a user-friendly platform that you can understand.
  • Choose what Broker Type you want. Some brokers offer commission-free trading and are known as dealing desk brokers or market maker brokers. Some brokers charge commission but have tighter spreads, these are known as non-dealing desk brokers or direct market access brokers.
  • Always check for additional Broker Fees that may be charged. We always highlight these in our reviews, but common ones are deposit and withdrawal fees and currency conversion fees.
  • Find a broker with the Trading Conditions that will support your trading strategy. Think about how much Leverage you want to have available; keeping it low (100:1 or less) is a good idea if you are still learning how to trade. You might increase the leverage as you become comfortable with forex trading.

Want to learn how to trade forex for free – Click Here.

 

Forex Broker FAQ – forex brokers accepting US traders

What exactly is a Forex Broker?

 

A Forex broker is an intermediary between traders and the world’s currency markets. They do this by providing a platform and capital.

A trading platform provides traders with access to the interbank market. The interbank market is a collection of technology platforms used by banks to trade with one another. The broker platform provides traders with live prices, the ability to execute trades, and tools like charts.

Most traders use leverage to trade, and brokers provide leverage by effectively lending capital to their clients.

 

What is Leverage?

 

Leverage, also known as gearing, allows traders to take positions using capital borrowed from a bank. The trader’s margin account is used as collateral against the loan, and any losses are subtracted from the margin account.

There is more than one way to trade with leverage. A margined trading account gives traders access to leverage as mentioned above. Derivatives also give clients access to increased buying power. When a trader buys a CFD, future, option, or spread position, they must pay margin to enter the trade. In this case, the margin is like a deposit against which any losses are offset.

Forex brokers offer leverage of anywhere from 50 to 1,000 times a trader’s margin, though this usually depends on the account size, trade size and volatility of the currencies being traded.

 

What is a Pip?

 

For most currency pairs, a pip is the smallest change that can take place in the rate. It will usually be the fourth number after the decimal. If a currency rate is quoted at 1.1515 and it moves to 1.1516, then the rate has increased by one pip.

Some pairs are quoted to five decimal places, in which case the pips are measured in decimals. If the

EURUSD pair is quoted at 1.17895 and it moves to 1.17898, then it has increased by 0.3 pips.

 

What is the Spread?

 

The spread is the difference between the buy and sell price. So, if the EURUSD pair is quoted at 1.17485 to 1.17489, the spread is 0.4 pips.

In the above example, a trader would buy at 1.17489, which is the offer (or ask) price. If the trader wanted to sell, they would sell at 1.17485, which is the bid price.

 

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How do Forex Brokers make money?

 

Brokers either charge commission, or add their fee to the spread. Sometimes they do both.

The commission is calculated as a percentage of the value of the trade. The commission is deducted from a trader’s margin account.

If a broker makes money on the spread, they will quote a wider spread than the spread available in the interbank market. So, if the EURUSD pair is quoted at 1.17480 – 1.17485 in the interbank market, they might quote the rate at 1.17470 – 1.17495. If a client bought at the broker’s offer price, the broker would buy at the lower price in the interbank market, giving them a 1 pip profit.

 

Why do Forex Brokers need to be regulated?

 

Forex brokers need to be regulated for two reasons: risk and fraud.

Most traders use leverage. Most brokers have thousands of clients, and all the positions a broker’s clients hold can add up to significant exposure. If a broker does not manage its own risk properly, it can be wiped out if market volatility increases. This would mean the broker’s client accounts can also be wiped out. It also poses a systemic risk to the market. Regulations force brokers to take adequate measures to ensure they do not put client accounts at risk.

Brokers are also regulated to prevent fraud. Client accounts and the broker’s working capital need to be separated. If client money is used to run the business, this amounts to fraud. Regulatory oversight is needed to make sure this does not happen.

Why compile a list of the best US forex brokers?

 

To avoid US citizens falling for unscrupulous forex brokers that scam people of their hard-earned cash.

 

Are the above top forex brokers in the US legit?

Most definitely. We only compile a list of regulated forex brokers that have been tried and tested for years.

 

The best US forex brokers are listed above, try them out.

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