Making a forex transaction involves the simultaneous purchase of 1 currency and the sale of another at a given rate of exchange known as an exchange rate. Forex traders make a profit by buying 1 currency pair low and selling it high, or by selling 1 currency pair high and buying it low. Many people like to trade forex because they can get started so easily by opening up a trading account and downloading a free trading platform like MetaTrader.

You can get in and out of positions rather quickly, easily trade your pace and make money. Since your forex broker will be your primary trading partner, you want to choose one carefully to make sure they are reputable and will fit your requirements as a trader. com, registered with the Commodity Futures Trading Commission CFTC , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade.

Learn more about FOREX. Because FOREX. com is the one of top 8 best forex trading platform in US and the best forex brokers in HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.

Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose.

Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. ADVISORY WARNING: ForexMedia News provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information.

None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and ForexMedia News specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer.

Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. ForexMedia News expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results. Skip to content. Home » Brokers » 8 Best Forex Trading Platform in US Also read: Is eToro Google Play Store Safe Forex Trading App?

Best Forex Trading Platform in US Affect There is a referral program as well, meaning that the users who spread the word about the bot get a personalized link best and forex trading platform in US anyone joining in through their link will provide them with an opportunity to gain some kickbacks.

Best forex trading platform in us Ever has any. The Best Forex Trading Platform in US Enough to Earn a Profit As the platform evolves, new functionalities will be added, such as risk analysis tools and new blocks, some of which are based on Artificial Intelligence such as Sentiment Analysis and trend prediction by Deep Learning. Best Overall Forex Broker: FOREX.

com FOREX. com is a subsidiary of Stone X NASDAQ: SNEX and ranks as the best overall forex broker. com review for more information about this excellent broker.

Best for Ultra-Low Spreads: CedarFX Broker CedarFX believes in combining the finest market conditions with excellent pricing and technology so clients can grow their accounts.

Best for Execution: IG Markets IG Markets gives clients access to trade up to 80 different currency pairs. Best for Beginner Non-US Traders: eToro Broker eToro specializes in social trading, which is ideal for beginners since you can follow the trades of expert traders with a proven track record.

Best for Advanced Non-US Traders: AvaTrade AvaTrade, one of the most secure brokers in the industry, carries 7 regulations across 6 continents Europe, Australia, Japan, British Virgin Islands, UAE, and South Africa. Best for Commission Free Trades Non-US : FXCC FXCC is the best brokerage for non-U. Best for Leveraged Trading: FXTM Established in , FXTMcan support your online trading, no matter your financial ambitions.

More than 2 million users subscribe to FXTM, and it has been recognized with 25 industry awards. What is a Forex Broker? Why Trade Forex? Choose Your Broker Wisely Since your forex broker will be your primary trading partner, you want to choose one carefully to make sure they are reputable and will fit your requirements as a trader.

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She holds degrees in law from Queen Mary University of London in Paris LLM and New York University School of Law JD , as well as assorted other diplomas in Literature, French and Philosophy from New York University MA and the University of Georgia - Athens BA Hons. As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge.

He has a Master's Degree in economics at Penn State University and a B. He also owns the website Young and the Invested providing investing advice for young individuals. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.

Below, we review the best mobile forex trading apps available in the United States. A fully customizable interface ensures that traders have access to crucial information on demand. For those who prefer to trade from charts, OANDA TRADE for iOS and Android supports tap-to-trade, enabling investors to open positions directly from within mobile charts.

Advanced charting tools include over 50 indicators, 32 drawing tools, and the intuitive interface makes modifying take-profit, stop-loss and trailing-stop orders straightforward. Instead, the broker collects a spread fee to cover its costs when executing a trade. Variable spreads for this account type start at 0.

Core Pricing account holders enjoy a tighter minimum spread of 0. Neither the Spread Only Pricing nor the Core Pricing accounts require a minimum deposit, however, OANDA charges a monthly fee of up to ten units of your account currency for periods of inactivity longer than twelve months, making this a better choice for active traders than hobbyists.

OANDA stands out from other online brokers for its customer service. The broker allows American forex traders to add funds via:. Regardless of the funding method, OANDA account holders pay no fees to add money, and funds are immediately available in most cases.

Regardless of your preferred platform, OANDA offers all the tools a beginning or advanced trader might want, including personalized charts, performance analytics and layouts.

In addition to its own homegrown web, desktop and mobile platforms, helpfully known as OANDA TRADE and powered by TradingView, OANDA also offers access to MetaTrader4 and MetaTrader4 Premium. OANDA also stands out from other online brokers for having developed its own API. OANDA v20 REST allows for automated trading via the OANDA TRADE platforms. In addition to ten major pairs, the broker offers 58 minor, exotic and cross pairs for a total of 68 currency combinations for trading.

One reason why the IBKR Mobile app stands out — it was designed natively for mobile and tablet users. Whereas other forex brokers focused primarily on developing their web and desktop trading platforms, IBKR Mobile was designed as a true stand-alone mobile trading tool. As a consequence, it offers a streamlined, highly readable interface that makes even complex trading operations intuitive. US-based traders may be more familiar with Interactive Brokers for bonds, futures, options, stocks, exchange-traded funds ETFs and other financial instruments, however, IBKR Mobile also includes forex trading.

Nor does IBKR Mobile skimp on features. Once you place your order this unique software continuously scans available markets to locate the best electronic communication network ECN or market center to process your trade. Similarly, the Block Trading Desk ensures that money managers executing large orders do so at the best prices.

IBKR Mobile also has a special feature for options traders. Futures traders, on the other hand, have access to an Interactive Order Entry Wheel that uses a similar setup to allow quick and easy opening and closing for positions on a range of asset classes. The mobile app includes standard security features, such as two-factor identification and Face ID, as well as more sophisticated protections designed to safeguard your stored personal data, credit card information and transaction records.

Despite a mobile app that packs a powerful trading punch, IBKR Mobile also offers a number of features that make it a great choice for beginner traders in need of some guardrails. US-based forex traders who prefer a conservative approach to trading may also appreciate the absence of a Standard trading account.

Instead of acting as a market-maker, Interactive Brokers earn volume-based commission fees on trading activity. That means IBKR Lite account holders pay less the more they trade. That said, forex traders may find the IBKR Lite a bit, well, light in terms of options. The broker offers only 25 currencies and four cryptocurrencies.

Traders can, however, expand the number of currency pairs available with the more than options available for cross-pairing. For traders interested in other asset classes and financial instruments, IBKR Lite has more to offer, with over 90 stocks, 30 options and a wide range of exchange traded funds ETFs. In addition to the IBKR Mobile platform described above, Interactive Brokers also offers US-based forex traders access to an impressive range of web and desktop interfaces through which to trade.

By far the most powerful trading platform developed by Interactive Brokers, Trader Workstation features a comprehensive suite of powerful trading tools and technical analysis.

Research is available in the form of the Fundamentals Explorer, which provides a broad overview of important information traders need to finalize a strategy.

In addition to market research, analyst forecasts and historical data, the tool includes financial ratios and information and advanced algorithms. BookTrader allows forex traders to create, modify and transmit orders within the book price ladder via a single instrument, while FXTrader aggregates quotes from 14 major interbank dealers for efficient order management.

Traders who opt for the slimmed-down platform will lose out on Fundamentals Explorer, however. Finally, forex traders also have the option to trade via Global Trader and Impact, two unique platforms that focus exclusively on stocks, futures and crypto. Socially conscious investors will find Impact of particular interest, as the platform claims to feature only sustainable stocks and other socially-conscious investment options.

Traders using the mobile app on an iPhone have access to over free charts and technical indicators for analysis on the go. IG also supports trading through charts in its mobile app, as well as in-chart stop-loss and take-profit orders. To those familiar with IG, the emphasis on charting should come as no surprise. Android users enjoy all of the above features, plus additional security and customer support in the form of bit SSL encryption technology and round-the-clock client care.

For those who prefer to test drive the mobile app trading experience or explore its features commitment-free, IG allows prospective traders to open a demo account specifically for mobile. In addition to one of the broadest range of currency pairs available to US retail investors, IG also offers an attractive fee structure to US customers. Standard account holders pay only the spread when trading a standard lot — just the spread. Forex spreads themselves start at 0.

The advanced charting tool gives users access to more than technical indicators and unlimited timeframes for truly comprehensive market analysis. A no-code solution ensures that automation remains accessible to all traders, while advanced backtesting allows novices to test out strategies against a deep data pool. Part of the Charles Schwab Corporation, a multinational financial services and investment firm, TD Ameritrade has excellent name-brand recognition and ample experience managing the user experience for a variety of online investment platforms and services.

That experience shows in the design of its mobile trading app, which combines powerful trading analytics and easy-to-use charting and drawing tools. Note: TD Ameritrade account holders have access to two different mobile apps: TD Ameritrade Mobile and TD Ameritrade Mobile Trader. Our review focuses on TD Ameritrade Mobile Trader, the thinkorswim-powered app designed for spot trading on the go.

When TD Ameritrade acquired thinkorswim in , the venerable money management firm clearly signalled a commitment to innovation in the online retail investment space. Known for its highly-customizable interface and a wide range of technical indicators, charts and other trading tools, thinkorswim rivals MetaTrader 4 for the title of best forex trading platform. Indeed, thinkorswim boasts many of the same functions as MetaTrader 4, as well as some interesting additions, such as depth of market view.

Multi-touch charts with multiple economic overlays not only provide insight into the past but allow traders to model the future on a smartphone, while real-time notifications of major news events and market news keep traders current on possible opportunities.

Add to this market heat maps based on specified parameters and the app does an admirable job of keeping traders in the loop. A notable absence of third-party integrations. The platform also does not allow for social trading, though scalping is permitted.

Headquarters : United States. com is currently one of the larger online brokers that is cornering the U. S online retail trading scene.

The trading platform is owned and managed by a holding company known as GAIN Capital which is in direct competition with FXCM for the domination of the U. S market. Highly regarded by many traders for their integrity, Forex. com is definitely one of the better online forex brokers for traders to partner with. eToro Review Regulated by : FCA, ASIC, CySEC, MiFID. Headquarters : Cyprus. eToro was founded in and is authorised and regulated around the world through its different subsidiaries.

This includes regulation from the Cyprus Securities and Exchange Commission CySEC , the UK Financial Conduct Authority FCA and the Australian Securities and Investments Commission ASIC.

It runs 24 hours a day and 7 days a week. Affected by numerous external factors, the forex market offers traders huge profitable opportunities for those who dare to dabble in it.

The U. S forex industry is considered the most active forex industry around the world. Under U. S financial regulations, only brokers which are registered with the NFA or CFTC are permitted to accept traders from the U. Hence, this severally limits the choice of forex brokers which U.

S based traders can choose. If you are a U. S trader who wishes to participate in retail forex trading, there are a few things that you should be aware off first before you decide which broker you wish to sign up with.

This article will look at those areas which include:. The forex market being an OTC Over the Counter market is one of the most difficult markets to regulate since there is no central exchange where forex trading activities are being carried out.

Because of the unregulated nature of the OTC market, to protect U. S based investors from being scammed, the US government has introduced a regulatory framework to require all financial services providers to be a registered member of an authorized exchange. In short, the broker must be a member of the Natural Futures Association NFA or the Commodity Futures Trading Commission CFTC. However for the U. S, the main regulatory agency which is responsible for regulating forex trading is the NFA.

The NFA was established in and is a self-regulatory, non-profit organization. Its main responsibility includes the following:. In other words, the NFA ensures that all brokers operating in the U.

S financial trading industry are operating with integrity, transparency and in compliance of their regulatory requirements. To help forex traders verify the regulatory status of brokers, the NFA has also provided a verification system known as called Background Affiliation Status Information Center BASIC where traders can log in and check if a broker is an approved broker that is in compliance with all the regulatory requirements.

The most popular example of this is the MetaTrader4 by MetaQuotes. This is adopted by most if not all forex brokers on the market today. Other popular examples are the Sirix Platform and the cTrader. Alternatively if they do not wish to download and install any software, they can opt for a web based trading platform which can be accessed using a web browser. For traders who find themselves on the move and wish to keep in touch with all the developments in the financial markets, they can use mobile trading apps which can be downloaded and installed onto their smartphones or mobile devices.

What is most important when evaluating a trading platform is to ensure that it is user friendly and comes with all the necessary tools that will help a trader trade more effectively. Important tools that feature on trading platforms include advanced charting systems with the ability to incorporate indicators and studies.

This is particularly useful for those traders that rely on trading strategies. Other features a live market news stream to keep the trader update, although sometimes this features on the brokers website rather than on the platform, economic calendar of upcoming events, live support directly from the platform and the ability to trade from charts. Hence, it is crucial that you pay close attention to the commissions and spreads that a broker will levy on your trade.

In the forex industry, most brokers do not charge their traders any commission on the trades that they make.

By performing a simple Google search for this purpose, you will be presented with thousands of potential suitors. As such, the process involved in finding the best forex trading platform for you can be time-consuming. After all, you need to explore things like supported currency pairs, commissions, minimum account balances, and regulation.

In this guide, we review the best forex trading platforms in We also walk you through the steps required to start buying and selling currencies today at a top-rated forex trading platform! You can find a full review of each provider by scrolling down! Featured Broker Visit Site CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Rating 5. Spread 1 pip 0. eToro — Over Best Forex Trading Platform eToro is now one of the largest forex brokers in the online space — with more than 17 million clients on its books. The main attraction with eToro is that the platform is extremely easy to use.

And of course — the platform allows you to trade forex without paying a single cent in commission. Instead, this top-rated forex trading platform makes its money through the spread. This covers a huge number of majors and minors, as well as a selection of exotic currencies like the South African rand and Hungarian forint.

You can trade all supported currency pairs with leverage at eToro — with most users being able to access on majors and on minors and exotics. You should consider whether you can afford to take the high risk of losing your money. What we really like about eToro is that it is also suitable for those of you that have never previously traded forex and want to open a micro currency account. In terms of the fundamentals, eToro is regulated by the FCA, CySEC, and ASIC.

It keeps client funds in segregated bank accounts and verifies the identity of all trades. As such, you can trade forex at eToro in a safe and sound environment. Finally, we should note that on top of forex, eToro also supports commission-free stocks, ETFs , indices, cryptocurrencies , and commodities. Although eToro makes our number one spot as the best forex trading platform of - it doesn't allow US residents to buy and sell currencies.

As such, if you're an American and looking for the best forex site in the space right now - look no further than Forex. As the name suggests, this provider is a specialist forex trading platform. By going through the motions of opening an account and making a deposit - you will then have unfettered access to over 80 currency pairs.

This includes a huge variety of majors, minors, and exotics. In particular, Forex. com is a great platform to consider if you want to access emerging currencies. In terms of fees, this popular forex trading platform offers several account types to choose from. For example, if you're a casual forex trader you might consider opting for an account that offers commission-free positions.

At the other end of the scale, professional forex traders might opt for the STP Pro account. This allows you to trade from just 0. Crucially, we like the fact that Forex.

com allows you to choose a pricing structure that meets your trading profile. com gives you access to its own native trading platform - which can access online or via the provider's mobile app, including advanced charting. Alternatively, you can also access your Forex. com account via the third-party platform MetaTrader 4 MT4 , where you can perform backtesting. The platform is also a proponent of forex EAs, as it offers 20 free forex trading strategies that you can easily install into your MT4 dashboard.

VantageFX is our top recommended forex trading platform. This CFD trading platform first launched in Australia, but it's since expanded around the globe. The brokerage has left its mark with a range of asset classes, very low fees, and excellent trading tools. VantageFX is solely a CFD trading platform. They provide every investment opportunity from forex trading to cryptocurrencies, commodities, indices, and stocks. They are a brokerage geared towards every type of investor. Whether you're new or experienced in trading, there is something to interest you here, with competitively low spreads and a zero commission account option.

A big part of why we recommend VantageFX is its high leverage forex trading. You can trade major forex pairs on margin of up to VantageFX offers a variety of trading platforms, including its own web trader and mobile app. The broker also integrates with the highly popular MetaTrader 4 and MetaTrader 5 trading platforms. So, you can trade with forex signals or create custom technical indicators to suit your needs. Notably, VantageFX also enables social trading with Myfxbook, ZuluTrade, and Duplitrade.

VantageFX is regulated by the UK Financial Conduct Authority FCA and the Australian Securities and Investment Commission ASIC. If you a novice in the world of forex trading then you should choose a platform the supports low minimum deposits. In doing so, you can test the waters out slowly without risking too much capital. Nevertheless, FXCM is home to a great range of forex pairs - all of which can be traded commission-free. Spreads are particularly competitive when trading major pairs.

FXCM is also a great option if you want access to leverage. In fact, this top-rated forex trading platform offers leverage of up to Your limits will, however, also be dictated by your location and prior trading knowledge.

For example, UK and European traders will be capped to In terms of the forex trading platform itself, FXCM offers full support for MT4 and ZuluTrade. Or, you might decide to use the provider's native FXCM Trading Station - with is very popular with newbies.

Finally, FXCM has been active in the forex trading scene for over two decades and is regulated by the FCA. There is no guarantee you will make money with this provider. TD Ameritrade is arguably one of the most reputable brokerage firms globally.

Established more than four decades ago, the platform is typically known for offering a huge library of stocks, ETFs, and investment funds. However, TD Ameritrade is also behind a fully-fledged forex trading facility. The platform supports a wide variety of tradable currencies, with pairs including the likes of USD, CAD, GBP, HKD, NZD, JPY, NOK, and more. All supported pairs can be traded 23 hours per day - subsequently ensuring that the platform serves its global client base.

We should note that the TD Ameritrade 'Thinkorswim' platform is best suited for experienced forex traders. This is because it comes packed with professional-level tools and features that to the untrained eye - might come across as somewhat intimidating. When it comes to forex trading fees, TD Ameritrade builds all commissions into the spread. This means that you only need to look out for the gap between the bid and ask of your chosen FX pair.

In some respect, leverage is a crucial tool to have at your disposal when trading forex online. After all, the day-to-day gains that you can make by buying and selling currency pairs are going to be somewhat modest. As such, if you have access to a small amount of capital, it might be best to use a platform that offers high levels of leverage.

As always, you might be offered lower limits - especially if you are based in Europe and you're not deemed to be a professional trader.

Nevertheless, we should note IG is much more than just a high leverage broker. On the contrary, this hugely popular forex trading platform gives you access to over 80 currency pairs.

Fees are really attractive too, as spreads on major pairs start from just 0. There are no commissions charged in the IG forex trading department, either. Additionally, IG is also compatible with MT4. If you haven't previously heard of IG and are concerned about safety - you shouldn't be. This brokerage firm has been operational since the s and it is now publicly listed on the London Stock Exchange.

And most importantly - it is fully regulated in several jurisdictions. FXTM is a popular forex trading platform that offers full support for MT4. This means that once you open an account and make a deposit, you can place all buy and sell orders via the MT4 desktop software. As a seasoned trader, you'll know that MT4 provides heaps of technical indicators and is compatible with automated forex EAs. FXTM itself offers a huge number of forex pairs and there are several account types on offer.

Plus, this FXTM account allows you to trade forex with micro amounts. This is perfect if you are trading forex online for the first time. In terms of forex trading fees, this will depend on your chosen account type. For example, some accounts offer zero commissions and wider spreads, while others allow you to trade currency pairs at 0 pips.

If you're a newbie, FXTM offers a good selection of educational and research tools. This will allow you to become a better forex trader over the course of time. If you are looking to trade several different asset classes other than just forex, XTB might be a good option to consider. The online trading platform is particularly popular in Mainland Europe - as XTB's parent company is listed on the Warsaw Stock Exchange.

Nevertheless, the forex trading department at XTB is highly extensive, with dozens of pairs to choose from.

The brokerage offers US customers just one account type — Standard — that uses a dealing desk model. Bank Transfer. The platform has the capacity for charts with 21 time frames — double the number available on MT4 — as well as 80 technical analysis tools. The ability to customize virtually every aspect of a chart — from indicators to colors to size — ensures maximum clarity and legibility for even novices trading on a demo account. S depend on the primary focus of the broker. com - Best For Metatrader 5.

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