The National Futures Association (NFA) regulates and licenses all of the top forex brokers we cover in the United States. They all meet stringent criteria, ensuring protection from forex scams.
With over 50,000 words of research and 5,000+ data points spanning 30 firms, our annual FX Broker Review covers the top brokers for 2022.
IG
IG was founded in 1974 as an early pioneer in offering contracts for difference (CFDs) and spread betting and has grown to be a global leader in the online trading industry.IG is a public company based in London listed on the FTSE 250 index of the London Stock Exchange (LON: IGG).
The total number of Forex pairs available is 91.
Likes: Comprehensive research tools and real-time exchange data; a diverse range of markets, currency pairs, and multi-asset CFDs (including cryptocurrencies); licensing in
major regulatory jurisdictions; competitive commission-based forex pricing and spreads.
Dislikes: Trading windows on the web platform must be manually resized to keep the layout
organized; Forex Direct is only available to professional traders in the EU.
Bottom Line: Forex and CFD traders looking to trade a wide range of instruments across multiple asset classes, including exchange-traded securities on international exchanges, will
find IG's platforms offer various tradable products.
Ameritrade
Thinkorswim, TDAmeritrade's desktop trading platform, offers an impressive combination of design and functionality.The platform has almost everything you could want, such as live CNBC TV, trade alerts, real-time scanning, and virtually every technical indicator under the sun for charting.
Total Forex Pairs Available: 75
Favourites: Powerful desktop charting that syncs with mobile; Thinkorswim platform provides premium research and trading tools. Trading in forex and bitcoin futures and options.
Dislikes: Forex is only available to residents of the United States. There is no web-based platform offered for forex; The platform's complexity may put beginners off.
Bottom Line: TDAmeritrade's thinkorswim platform is a sophisticated multi-asset desktop
experience optimized for securities trading for US-based investors and traders, including off-exchange spot forex and exchange-traded options and futures(including Bitcoin).
Forex.com
Forex.com (Gain Capital) is well-known for providing forex traders with a comprehensive offering.It is publicly traded, like TD Ameritrade and Interactive Brokers, and provides forex traders with various trading tools. Aside from its proprietary trading platform, Forex.com also
provides MetaTrader4 (MT4) to customers, making it an excellent choice for investors of all experience levels.
The total number of Forex pairs available is 84.
Likes: Licensed in highly regulated jurisdictions; advanced charting capabilities on desktop and web platforms; Platforms provide many channels for research content and trading
ideas. Cryptocurrency CFDs are available in the UK, and Bitcoin Futures are available in the US.
Dislikes: MT5 has yet to be released; Hong Kong has ceased business in regulated activities.
Bottom Line: FOREX.com's regulated offerings worldwide provide plenty of options for Forex and CFD traders. FOREX.com caters to traders of all experience levels with
full-featured platforms, various trading tools, and in-depth research.
Interactive Traders:
Interactive Broker is a good option for professional currency traders. Interactive Brokers is well-known in the US stock and options industry as an active trading broker.
IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP, which is defined as "An Eligible Contract Participant is generally an individual or organization with assets of more than $10 million (or $5
million if trades are hedging)."
Total Forex Pairs Offered:115
Likes: Regulated in significant jurisdictions and publicly traded; Extensive range of global markets and asset classes; Bitcoin futures trading supported; Fees and discounts for high-volume traders.
Dislikes: Retail spot forex is only available to non-US clients; the desktop platform is too complex for inexperienced traders; the web platform lacks forex charts; monthly minimum
activity charges
Finally, Professional traders and highly experienced investors looking for a complete multi-asset forex broker will find Interactive Brokers offers a comprehensive platform with
competitive fees across multiple global financial markets.