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Monetary Market Advisors

Forex Brokers in USA

forex-brokers-in-the-usa

Many Forex brokers do not accept clients from the United States of America. Some brokers even blocked their website from visitors in that geographical region.

In 2011, the United States government restricted all U.S. residents to national brokers that are regulated by the NFA (National Future Association), which is ran by the CFTC (Commodity Futures Trading Commission).

List of Brokers in the USA

Broker Description Bonus Website
OANDA
  • Most popular and trusted broker
  • No minimum deposit
  • No commissions
  • Spread as low as 1.1 pips
$100 for Global markets account only Official Website Our review
FXCM
  • Best trading platform and education
  • $50 minimum deposit
  • Small or no commissions
  • Spreads from 1.5 pips
$50 to $150 bonus. Depending on deposit. Official Website Our review
FOREX.com
  • Award winning broker (2014)
  • $50 minimum deposit
  • Small or no commissions
  • Spreads from 1.5 pips
Non Official Website Our review
LMFX 100% Deposit Match Official Website

Limitations by the NFA

  • Leverage: limited to 50:1 for major currencies and 20:1 for minor currencies
  • Short (and Long) Forex Options: must maintain a security deposit
  • Traders cannot hold simultaneous positions in one forex asset (FIFO – First In First Out).
  • Brokers must hold their money in a qualifying institution in the USA

 

Updated: November 7, 2016 — 3:58 am
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