Top Forex Broker in USA 2025

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We assessed the top 10 US forex brokers. They are the most reliable and regulated brokers in the USA. We conducted our tests using real money accounts. We also made a comparison between their primary criteria.

When you are searching for a forex broker in the USA, there can be multiple options so finding a proper broker that is ideal for your investment goals can be difficult.  

However, you can find a proper broker by conducting detailed research and making detailed comparisons.

It will also safeguard you from scam brokers as well as inferior quality platforms.

In order to simplify the process of choosing a forex broker, we have made a list of about the top 10 brokers, along with the type of trading they are best for. It also consists of feature comparisons, reviews and frequently asked questions. 

Best forex brokers in USA

Rank	Broker	Score	Best For
1	eToro	4.8	Best for Forex. Social trading. Best for beginners.
2	Interactive Brokers	4.6	Best choice of Forex pairs. Great research tools. Low trading fees.
3	Oanda	4.6	Best for specialized Forex broker. Good choice of deposit/withdrawal methods. Very good educational resources.
4	Forex.com	4.5	Best for automated trading. Very good choice of Forex pairs. Great technical research tools.
5	Charles Schwab	4.4	Best for trading platforms. Very good option for mobile trading. Great research tools.
6	tastyFX	4.3	Best for active traders trading. Fast account opening. Very good customer support.
7	IG	4.2	Best choice of trading platforms. Very good educational tools. Great deposit and withdrawal options.
8	Plus 500 US	4.0	Best for mobile trading. Fast account opening. Very good web-based platform.
9	Webull	3.6	Best trading platform. Great for Forex options. Good trading conditions
10	ATC brokers	3.5	Best customer service. God for active trading. Good option for mobile trading.

Safety and regulation in the United States

The USA has a robust regulatory framework designed with the purpose of ensuring transparency, fairness and protection to the investors. Some of the prominent regulatory bodies are: 

Securities and Exchange Commission (SEC): SEC monitors the securities market, mutual funds and brokers, thus ensuring adherence and protecting investors from fraud.

Investor Protection Funds (SIPC): The Securities Investor Protection Corporation (SIPC) offers protection against loss of cash and securities when a brokerage firm fails.

Commodity Futures Trading Commission (CFTC): CFTC regulates futures and options markets. It also monitors retail foreign exchange (forex) trading in the United States, thus ensuring financial integrity and investor security.

Federal Reserve System (FeD): FeD regulates banks, thus ensuring stability in the financial system, including aspects relevant to trading and investment services.

Financial Industry Regulatory Authority (FINRA): FINRA manages broker-dealers, thus enforcing rules governing the securities industry for safeguarding investors.

Forex trading regulation: Besides CFTC, the National Futures Association (NFA) plays a significant role in regulating retail forex trading. These bodies apply strict rules on leverage, broker capitalization, and risk disclosure, thus ensuring that US traders are using those platforms that are safe and transparent.

Tier 1 international regulators 

If you are thinking of choosing international brokers as an US citizen, then tier 1 regulators like Australia’s Securities and Investments Commission (ASIC), UK’s Financial Conduct Authority (FCA) and Securities and Exchange Commission (SEC) of USA will set high standards for broker transparency, safety and investor protection. If you choose brokers regulated by these bodies, it will ensure that you are engaging with entities which maintain stringent regulatory adherence and robust protection measures.

Safety and regulation comparison for top brokers

The major considerations when deciding whether a broker is trustworthy or not are – who they’re top tier regulators are, the investor protection they provide, and any history of misconduct or scandals.  Look at the table below where we have explained this information. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
Top-tier Regulators	FCA (UK), ASIC (Australia), SEC (USA)	FCA (UK), ASIC (Australia), SEC (USA)	FCA (UK), CIRO (Canada), ASIC (Australia), FSA (Japan), NFA (USA)	FCA (UK), CFTC and NFA (USA), CIRO (Canada), CySEC (Cyprus)	SEC and FINRA (USA)	CFTC (USA)	FCA (UK), ASIC (Australia), NFA (USA), BaFin (Germany), FINMA (Switzerland), FSA (Japan), FMA (New Zealand)	FCA (UK), ASIC (Australia)	SEC and FINRA (USA)	FCA (UK), CTFC (USA)
Trusted Broker	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Year of Foundation	2007	1977	1996	2001	1971	2024	1974	2008	2016	2012
Investor Protection	£85k to UK, €20k to EU, $500k (cash up to $250k) to US clients	$500k (cash up to $250k)	£85k to UK, €20k to EU clients, 1M CAD to Canadian	£85k to UK, €20k to EU, 1M to Canada $500k (cash up to $250k) to US clients	$500k (cash up to $250k)	No	£85k to UK, €100 for cash €20k to EU, 100CHF to Swiss	No	$500k (cash up to $250k) to US, 500 000 HKD to Hong Kong	£85k to UK
Involved in Scandal	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	In 2022 agreed to pay $187 million to settle an SEC investigation into the firm’s robo-advisor, Schwab Intelligent Portfolios.	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	In 2023 paid $3 Million for Options Customer Approval Violations	Clean track record: no major regulatory incidents or fines

Spread fees compared.

The table below compares the fees of selected platforms. The tightest spread across major pairs is provided by Interactive Brokers. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
EURUSD spread/fee	1.0	0.2	0.8	1.2	1.4	0.8	0.6	1.2	$0.25 per contact	0.3
GBPUSD spread/fee	2.3	0.4	1.5	1.5	1.3	1.0	0.9	1.5	$0.25 per contact	0.6
AUDUSD spread/fee	1.0	0.3	1.2	1.2	1.2	0.8	0.9	1.5	$0.25 per contact	0.4
EURCHF spread/fee	4.7	0.5	1.5	3.0	2.2	1.0	1.6	2.0	$0.25 per contact	1.0
EURGBP spread/fee	1.5	0.3	0.7	1.5	1.4	2.0	1.4	1.6	$0.25 per contact	0.5

Comparing non-trading Fees.

Non-trading fees are compared in the table below. This includes fees such as account, deposit and withdrawal fees. eToro has a 0$ deposit fee and Oanda does not charge a withdrawal fee. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
Account fee	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Deposit fee	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Withdrawal fee	$5	$0	$0	$0	$0	$0	$0	$0	$0	$40
Inactivity fee	$10/mo after 1y	$0	$10/mo after 1y	$15/mo after 1y	$0	$0	$0	$10/mo after 3 months	$0	$50/mo after 6 months

Comparing Deposit, Commission and Account Opening Fees

The table below compares all the fees on commission, deposit and account opening speeds of different brokers. Charles Schwab has the fastest account opening speed at 1 day, while eToro does not charge any commissions per lot. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
FX Commission per lot	–	$2	–	–	–	–	–	–	–	$3
Minimum deposit	$50	$0	$0	$100	$0	$250	$0	$100	$0	$2000
Time to open account	1 day	1-3 days	1-3 days	2 days	1 day	1 day	3 days	1 day	1 day	1-2 days
Credit/Debit Card	Yes	No	Yes	Yes	No	Yes	Yes	Yes	No	No
eWallets	Yes	No	Yes	Yes	No	Yes	Yes	Yes	No	No

Mobile, desktop and web trading platforms compared.

The table below compares different trading platforms. eToro is the best when it comes to social trading, while Charles Schwab has the best overall platform. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
Trading platform score	4.8	4.9	4.4	3.9	5.0	4.1	4.8	3.8	4.5	3.9
MT4	No	No	No	No	No	Yes	Yes	No	No	Yes
MT5	No	No	Yes	Yes	No	No	No	No	No	No
TradingView	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	Yes	No
Social/Copy trading	Yes	No	Yes	Yes	No	Yes	Yes	No	No	Yes
Mobile platform score	4.9	4.9	4.9	4.5	4.7	4.5	5.0	5.0	5.0	4.0

Product selection, markets and financial assets compared.

The table below compares all available financial products provided by brokers. Interactive Brokers has the greatest number of pairs. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
Currency pairs	55	100	42	80	65	82	98	60	13	37

User base of top forex brokers in USA compared.

The table below contains the number of clients of each broker. Charles Schwab is first in this aspect, followed by eToro. 

Broker	eToro	Interactive Brokers	Oanda	Forex.com	Charles Schwab	tastyFX	IG	Plus 500 US	Webull	ATC Brokers
Number of clients	35M	2.6M	47k	54k	35.6M	N/A	313k	400k	20M	N/A

Top forex brokers in USA reviewed.

eToro

Broker	eToro
Minimum deposit	$50
Deposit/withdrawal methods	Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill
Currency pairs	55
EURUSD spread/fee	1.0
Withdrawal fee	$5
Inactivity fee	$10/mo after 1y
Mobile platform score	4.9

GBPUSD spread/fee	2.3
AUDUSD spread/fee	1.0

With eToro, traders can enjoy social trading and copy the strategies of top forex traders. The broker provides access to over 50 forex pairs through its simple, yet intuitive platform suited for all types of traders. 

eToro is also regulated by the CFTC, which ensures secure trading. It does not charge any commissions and has competitive spreads. 

Pros: 

• Beginners can take advantage of social trading. 
• The broker provides a wide range of forex pairs.
• Since it charges no commissions, traders get access to low fees. 
• It provides integrated tools with real-time alerts. 
• The platform is supported by a strong and active trading community. 

Cons: 

• U.S. clients cannot access leveraged trading. 
• It does not support scalping. 

Don’t miss out on top-tier investment opportunities! –Open Account

*51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Interactive Brokers

Broker	Interactive Brokers
Minimum deposit	$0
Deposit/withdrawal methods	Bank transfer
Currency pairs	100
EURUSD spread/fee	0.2
Withdrawal fee	$0
Inactivity fee	$0
Mobile platform score	4.9

GBPUSD spread/fee	0.4
AUDUSD spread/fee	0.3

With Interactive Brokers, traders can access over 100 forex pairs with competitive spreads. They can take advantage of the professional-grade trading tools provided for advanced strategies. The CFTC and NFTA regulate the broker. 

Traders are attracted to the tiered commission structure the broker provides. They can also use advanced platforms like Trader Workstation. 

Pros: 

• Traders can take advantage of a wide range of forex pairs and global market access. 
•  Experienced traders can use advanced tools for better trading. 
• There are options for low spreads and customizable fees
• Safety is ensured by strong regulations. 

Cons: 

• Beginners might get overwhelmed by the complexity of the platform. 
• It does not provide social trading. 

Oanda

Broker	Oanda
Minimum deposit	$0
Deposit/withdrawal methods	Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Currency pairs	42
EURUSD spread/fee	0.8
Withdrawal fee	$0
Inactivity fee	$10/mo after 1y
Mobile platform score	4.9

GBPUSD spread/fee	1.5
AUDUSD spread/fee	1.2

Oanda is a broker that has over 70 forex pairs available for trading. Traders take advantage of its tight spread with no minimum deposit requirements and use TradingView, which comes integrated with the platform. 

Oanda is also regulated by CFTC and NFA, which ensures a secure trading. It also comes with a robust mobile app which is perfect for trading on the go. 

Pros: 

• Oanda provides transparent pricing for all of its currency pairs. 
• Traders find it easy to join due to its no minimum deposit requirements. 
• Powerful charting tools can be found on TradingView
• Both advanced and new traders find the platform easy to use. 
• Trust and safety are ensured by strong regulatory oversight. 

Cons: 

• Periods of high volatility can widen spreads. 
• U.S. clients have limited options for leverage. 
• It does not provide copy trading or social trading. 

Forex.com

Broker	Forex.com
Minimum deposit	$100
Deposit/withdrawal methods	Bank transfer, Credit/debit cards, PayPal
Currency pairs	80
EURUSD spread/fee	1.2
Withdrawal fee	$0
Inactivity fee	$15/mo after 1y
Mobile platform score	4.5

GBPUSD spread/fee	1.5
AUDUSD spread/fee	1.2

Forex.com is a reputed broker which provides access to more than 80 currency pairs, including majors, minors and exotics. Traders can take advantage of multiple trading platforms, including a proprietary platform, followed by MT4 and MT5. 

Forex.com is regulated by CFTC, NFA and other top-tier authorities. Traders are attracted to the competitive spreads and transparent pricing offered by the broker. They can also access educational resources, including tutorials and market analysis. 

Pros: 

• One can get a wide range of forex pairs and instruments at Forex.com
• Traders of all experience levels will find the platform extremely user-friendly. 
• Safety is ensured by strong regulations in place. 
• Competitive spreads and low fees make it ideal for newcomers. 
• Traders can take advantage of the vast educational resources available. 

Cons:

• The broker does not provide social and copy trading features. 
• It has higher minimum requirements compared to others. 
• Dormant accounts attract inactivity fees. 

Charles Schwab

Broker	Charles Schwab
Minimum deposit	$0
Deposit/withdrawal methods	Bank transfer
Currency pairs	65
EURUSD spread/fee	1.4
Withdrawal fee	$0
Inactivity fee	$0
Mobile platform score	4.7

GBPUSD spread/fee	1.3
AUDUSD spread/fee	1.2

Charles Schwab provides access to a wide range of forex instruments with competitive spreads. Traders can conduct detailed analysis using advanced trading platforms like StreetSmart Edge. 

Charles Schwab takes security seriously as it is regulated by SEC and CFTC. It does not have any minimum account requirements or any hidden fees. There is a wealth of educational materials available on the platform. 

Pros: 

• Charles Schwab provides a secure trading environment, thanks to strong regulations. 
• Its intuitive platform provides traders with several advanced analysis tools. 
• There is no account minimums required. 
• Traders can take advantage of extensive market research and educational content. 
• Customer support is available on a 24/7 basis. 

Cons:

• The platform doesn’t focus much on forex compared to ETFs and stocks. 
• It does not have as many forex pairs as some of its competitors. 

tastyFX

Broker	tastyFX
Minimum deposit	$250
Deposit/withdrawal methods	Bank transfer, Credit/debit cards
Currency pairs	82
EURUSD spread/fee	0.8
Withdrawal fee	$0
Inactivity fee	$0
Mobile platform score	4.5

GBPUSD spread/fee	1.0
AUDUSD spread/fee	0.8

tastyFX is a broker which gives access to major and minor currency spreads. It is regulated by regulatory bodies like CFTC for safe and compliant trading. It does not provide account minimums with transparent fee structure. It provides access to advanced tools for charting and real-time market analysis. 

Pros 

• tastyFX has strong regulatory features which ensures safety.
• It is a user-friendly platform customized for forex traders. 
• It offers competitive spreads for cost-effective trading.

Cons 

• tastyFX lacks social or copy trading features.
• Platforms may be unable to provide advanced tools for professional forex traders.
• It offers limited selection of exotic currency pairs.

IG

Broker	IG
Minimum deposit	$0
Deposit/withdrawal methods	Bank transfer, Credit/debit cards, PayPal
Currency pairs	98
EURUSD spread/fee	0.6
Withdrawal fee	$0
Inactivity fee	$0
Mobile platform score	5.0

GBPUSD spread/fee	0.9
AUDUSD spread/fee	0.9

IG provides access to advanced trading platforms, such as ProRealTime, MT4 and a proprietary platform. It is regulated by bodies like NFA and CFTC which ensures a safe and compliant trading. It has access to over 80 forex pairs which also includes majors, minors and exotics. It provides comprehensive educational resources.

Pros

• It offers advanced tools and platforms for detailed analysis.
• It provided access to various kinds of currency pairs for wide range of trading options.
• It provides good quality educational materials for traders of all levels.

Cons

• It does not have social or copy trading features.
• High minimum deposit is required for some accounts.

Webull

Broker	Webull
Minimum deposit	$0
Deposit/withdrawal methods	Bank transfer
Currency pairs	13
EURUSD spread/fee	$0.25 per contact
Withdrawal fee	$0
Inactivity fee	$0
Mobile platform score	5.0

GBPUSD spread/fee	$0.25 per contact
AUDUSD spread/fee	$0.25 per contact

WeBull offers a user-friendly platform with specialized charting tool. It provides access to both major and minor forex pairs without any commission fees. It is regulated by bodies like SEC and FINRA, thus ensuring safe and secure trading. It offers real-time market data along with price alerts.

Pros 

• It is an intuitive and beginner-friendly platform. 
• It offers forex trading without charging commission, thus reducing costs. 
• It provides access to advanced tools for technical analysis and market tracking.

Cons

• It lacks advanced forex-specific features like MT4/MT5 integration.
• It does not have social or copy trading features.
• It offers limited selection of forex pairs compared to dedicated brokers.

Plus 500 US

Broker	Plus 500 US
Minimum deposit	$100
Deposit/withdrawal methods	Bank transfer, Credit/debit cards, PayPal, Skrill, GooglePay, ApplePay
Currency pairs	60
EURUSD spread/fee	1.2
Withdrawal fee	$0
Inactivity fee	$10/mo after 3 months
Mobile platform score	5.0

GBPUSD spread/fee	1.5
AUDUSD spread/fee	1.5

Plus 500 US provides access to wide range of forex pairs which includes both majors and minors. It is regulated by regulatory bodies like CFTC and NFA for ensuring safe trading.  It is an exclusive platform with a simple and user-friendly design. It does not offer any commissions on forex trades.

Pros  

• It is a straightforward platform suitable for beginners.
• It provides faster and reliable order execution.
• It has risk management features for increasing trade security. 

Cons

• It lacks social or copy trading options.
• It offers smaller selection of forex pairs compared to competitors.
• It does not allow integration with third-party platforms like MT4/MT5 

ATC Brokers

Broker	ATC Brokers
Minimum deposit	$2000
Deposit/withdrawal methods	Bank transfer
Currency pairs	37
EURUSD spread/fee	0.3
Withdrawal fee	$40
Inactivity fee	$50/mo after 6 months
Mobile platform score	4.0

GBPUSD spread/fee	0.6
AUDUSD spread/fee	0.4

It provides access to over 50 forex pairs with tight spreads. It is regulated by regulatory bodies like NFA and CFTC for safe and compliance trading.  It offers Straight-thought Processing (STP) for quick and transparent execution. It provides specialized tools for advanced charting and strategy development.

Pros

• It offers transparent pricing with no dealing desk interference.
• It offers professional tools customized for experienced forex traders.
• It provides a low-cost trading environment.

Cons 

• It has less forex pairs compared to its rivals.
• It requires a high minimum deposit compared to other brokers.
• It does not provide social or copy trading features. 

How can you find the best forex broker in the United States?

You can find the best forex broker in USA through the following ways:

Spread fees: You should always select those brokers offering competitive spreads since tight spreads essential in forex trading for reducing costs, especially for active traders. Always give priority to those brokers which offer low commissions and transparent pricing structure customized for US forex traders.

Safety (regulation): It is recommended that you choose brokers regulated by reliable authorities, such as the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) since these authorities monitor forex trading in the United States. Adherence to these regulatory bodies will ensure that your broker operates transparently, secures client funds and complies with strict trading standards.

Mobile app/Trading platforms:  You should choose brokers which offer mobile platforms equipped with forex specific tools, such as advanced charting with specialized indicators, real-time currency price alerts and seamless order execution. A reliable mobile app makes sure that traders can manage their positions in an efficient manner.  

Taxation for forex trading in the USA

There is unique tax rules associated with forex trading in the United States. Understanding them is critical for managing your trading profits and losses. 

Taxation of Forex Trading 

There are two categories in which forex profits are taxed. 

1. Section 1256 (Futures and options): The government taxes 60% of profits at the lower long-term capital gains rate, and 40% at the higher short-term rate in case of regulated forex futures and options. This blended rate can reduce taxes for profitable traders. 
2. Section 988 (Spot forex): The majority of forex traders are included in this category. Profits and losses are categorized as ordinary income and is taxed at your income tax rate.  Traders can do unlimited loss deductions as a result, against ordinary income, which can be an advantage during periods of losses. 

Key tax considerations

• Currency conversion: Laws require forex profits to be reported in USD. The final taxable amount can vary depending on fluctuations in currency value between trade execution and profit withdrawal. 
• Loss deductions: Full deduction of losses against ordinary income is possible through Section 988. 
• Expenses: Active traders may qualify as a business. Hence expenses like trading software, internet, and home office costs can be deducted, subject to IRS guidelines. 

Rollover interest

Interest earned or paid in open forex positions, or rollover swaps must be reported an ordinary income or expenses. 

Using foreign brokers.

If you’re trading using a foreign broker, you may have to withhold taxes in the broker’s country. To offset these taxes, traders in the U.S. can use the foreign tax credit. However, this can require professional tax advice. 

Tax filing tips

Maintain detailed records: Record every trade, including dates, entry/exit prices, and amounts converted to USD. 

Consulting a tax advisor: There are complex rules associated with taxation in forex trading. Seek professional guidance to ensure compliance and reduce tax liability. 

How to invest in forex from the USA.

Follow these steps to begin your trading journey: 

1. Choosing a forex broker: Go for brokers regulated by the CFTC and registered with the NFA. Prioritize brokers that offer competitive spreads, low fees and allow trading in major, minor and exotic currency pairs. 
2. Open an account: To sign up, provide your SSN, a valid ID such as your driver’s license and proof of address. Your trading experience and financial background may be considered when determining leverage limits. 
3. Funding Your Account: You can use secure methods like e-wallets, bank transfers and credit cards/ To minimizes currency conversion fees, go for brokers that support USD accounts.  Always take note of any deposit fees or minimum funding requirements. 
4. Selecting a trading platform: Go for MetaTrader 4, MetaTrader 5 or the broker’s proprietary trading platform. Platforms with tools like TradingView which provide capabilities like advanced charting, real time data and analysis should be preferred. 
5. Starting to Trade: First, select currency pairs that match with your strategy. Focus more on major pairs like EUR/USD to get tighter spreads and higher liquidity. Many brokers provide demo account where traders can practice and refine their trading skills. 
6. Managing risk: Protect your investments by implementing risk management strategies. 

• Stop-loss orders: Exit trades at predefined levels to automatically limit losses. 
• Positioning sizing: Align with your risk tolerance by trading appropriate amounts. 
• Leverage control: Avoid significant losses by using leverage carefully during volatile markets. 

7. Stay informed: Monitor interest rate changes, geopolitical developments and any other global economic news and events that may affect forex markets. Use your broker’s educational resources to better understand market dynamics. 

Types of trading are legal in the USA.

Trading is regulated by various authorities in the United States to ensure fairness and safety. This includes the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). 

• Stock trading: It refers to buying and selling shares of companies on NASDAQ, and NYSE. 
• Derivatives trading: This refers to trading in futures and options on exchanges like the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE). 
• Forex Trading: It is possible for U.S. residents to trade many currency pairs through CFTC and NFA regulated platforms. 
• Commodity trading: It is possible to trade in physical commodities like gold, silver, crude oil and agricultural products on certain exchanges such as NYMEX and CBOT. 
• Mutual funds and bonds: Traders can invest in mutual funds or trading bonds, including government and corporate bonds through brokers or directly from insurers. 

The above type of trading is legal. But certain types such as sports betting and online gambling are restricted or illegal in many states. Make sure you choose a broker or a platform that is registered and regulated by the SEC, CFTC, FINRA pr any other U.S. regulatory bodies. 

Conclusion

After going through all the brokers available to U.S. traders across multiple categories, we have selected eToro has the best forex broker for U.S. clients in 2025. 

eToro is a cut above the rest due to its innovative approach to forex trading, offering an intuitive platform that combines competitive fees, a wide range of forex pairs and unique features like social trading. eToro provides a safe trading environment for traders and is regulated by top U.S. authorities and ensuring robust investor protection. It is an excellent choice for traders thanks to its global reach, advanced trading tools, and the ability to copy successful traders’ strategies. 

Rank	Broker	Score	Best For
1	eToro	4.8	Best for Forex. Social trading. Best for beginners.
2	Interactive Brokers	4.6	Best choice of Forex pairs. Great research tools. Low trading fees.
3	Oanda	4.6	Best for specialized Forex broker. Good choice of deposit/withdrawal methods. Very good educational resources.
4	Forex.com	4.5	Best for automated trading. Very good choice of Forex pairs. Great technical research tools.
5	Charles Schwab	4.4	Best for trading platform. Very good option for mobile trading. Great research tools.
6	tastyFX	4.3	Best for active traders trading. Fast account opening. Very good customer support.
7	IG	4.2	Best choice of trading platforms. Very good educational tools. Great deposit and withdrawal options.
8	Plus 500 US	4.0	Best for mobile trading. Fast account opening. Very good web-based platform.
9	Webull	3.6	Best trading platform. Great for Forex options. Good trading conditions
10	ATC brokers	3.5	Best customer service. God for active trading. Good option for mobile trading.

FAQ

What is an online broker?

In the United States, the term online broker refers to financial service provider that lets you buy and sell financial instruments like stocks, mutual funds, forex, ETFs, bonds and derivatives through an online app or platform. 

With an online broker, you can trade, monitor your portfolio and access market from anywhere you please. It is crucial for trading on major U.S. exchanges like the NYSE and NASDAQ. 

What should I look for when choosing a forex broker in the USA?

• Regulation: Make sure the broker has a good track record for forex trading and is registered with the likes of SEC, FINRA or CFTC. 
• Fees: Competitive spreads, transparency in pricing and low commissions are some of the factors that should be prioritised. 
• Trading platforms: Platforms should be well-equipped to provide forex trading capabilities along with tools like advanced charting, technical analysis capabilities, and forex-specific news feeds.
• Leverage options: Considering how important leverage is, always check the leverage options provided to select one that suits your risk tolerance. 
• Currency pairs offered: Make sure the broker you choose offers an ample number of currency pairs, including major, minor, and exotic pairs.

Are U.S. brokers safe for forex trading? 

Those brokers who are under the SEC, CFTC or FINRA are considered the safest. Some brokers can provide additional safety by adhering to the National Futures Association (NFA).

What fees should I expect when forex trading in the USA? 

You can expect costs related to spreads, and potential overnight or swap fees, apart from brokerage fees. In case trading pairs are not denominated in USD< currency conversion fees can also apply. 

What documents do I need to trade forex in the USA? 

Documents required include Social Security Number (SSN) or ITIN, valid ID such as a driver’s license or passport, proof of residence, and bank account details for depositing and withdrawing. 

Can U.S. clients trade internationally with forex? 

U.S. residents can trade forex internationally. However, they should only do so using brokers that comply with U.S. and international forex trading regulations to ensure legal and secure trading. 

How do I manage risks when forex trading from the USA? 

Use risk management tools specific to forex. This includes stop-loss and take-profit orders and strategies like hedging. It is also crucial to stay updated about global economic news that can impact forex markets. 

What is negative balance protection in forex trading? 

Negative balance protection is a safety feature that protects forex traders from losing more money than they trading account balance, especially in very volatile markets. 

What are the benefits of trading forex? 

Traders engage in forex trading to take advantage of falling markets, high-liquidity, 4-hour trading during weekdays, and the use of leverage. 

How to choose currency pairs for trading in the USA? 

Novice traders should start with the pairs that are most traded and has the lowest spreads. This includes EUR/USD or USD/JPY. Traders can experiment with more pairs as their experience grows. 

What is margin trading in forex, and how is it regulated in the USA? 

Margin trading refers to trading with borrowed funds. However, this is heavily regulated in the U.S.A. Regulatory bodies like the NFA has leverage limits in place, which dictate how much traders can borrow for forex trading. 

What is the structure of the forex market?

The forex market is operated via a decentralized global network consisting of traders, brokers and backs. It does not have a centralized exchange and runs across major financial hubs like New York, Tokyo and London, with continuous trading during weekdays. 

How do economic indicators impact forex trading?

Currency values can be impacted by economic indicators such as GDP growth, employment rates and interest rate decisions. These indicators are reflective of the health of a country’s economy which influences trading decisions on whether to buy or sell a particular currency based on its strength or weakness. 

What are some common forex trading strategies?

Some common forex strategies are position trading (holding positions for longer periods based on long-term trends),  swing trading (holding positions for several days to capitalize on expected upward or downward market shifts), scalping (making multiple trades for small profits) and day trading (buying and selling within the same day).