5 brokers compared · 2026

Best forex brokers in the USA

US residents can only trade forex legally with firms registered with the CFTC and members of the NFA. That rules out most offshore brokers, including IC Markets, XM and Exness. These five US-regulated brokers offer the best combination of pricing, platforms and safety.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01tastyfxBest overall for US forex: spreads from 0.8 pips, TradingView and MT4, no minimum.
02FOREX.comBest platform choice: MT4, MT5, TradingView and NinjaTrader.
03Interactive BrokersLowest cost for larger traders, with interbank spreads.
04OANDABest for beginners and API traders, with no minimum deposit.
05Charles SchwabBest for existing Schwab clients, on thinkorswim.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	tastyfxUS forex traders who want low spreads	4.4	0.8pips	n/a	$0	CFTCNFA	MT4TradingView	Visit Review
02	FOREX.comUS traders who want MT4/MT5 and strong research	4.5	1.4pips	$7all-in	$100	CFTCNFAFCA+4	MT4MT5TradingView	Visit Review
03	Interactive BrokersProfessional and multi-asset traders	4.7	n/a	$5all-in	$0	SECFINRACFTC+7	Own platform	Visit Review
04	OANDAUS beginners and API traders	4.3	1.4pips	$6all-in	$0	CFTCNFAFCA+4	MT4TradingView	Visit Review
05	Charles SchwabExisting Schwab clients and thinkorswim fans	4.5	1.2pips	n/a	$0	SECFINRACFTC+1	Own platform	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

tastyfx

Best overall for US forex: spreads from 0.8 pips, TradingView and MT4, no minimum.

4.4/5

tastyfx is the US forex arm of IG Group, rebranded from IG US in 2024. It offers 80+ currency pairs with competitive spreads, no minimum deposit and access through its own platform, MT4, TradingView and ProRealTime, all regulated by the CFTC and NFA.

Pros

Backed by IG Group, a publicly listed global broker
EUR/USD spreads from about 0.8 pips with no commission
TradingView, MT4 and ProRealTime support

Cons

Forex only: no stocks, indices or crypto
Available to US residents only

EUR/USD: 0.8 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: CFTCNFA
Platforms: tastyfx Web, tastyfx App, MT4, TradingView

FOREX.com

Best platform choice: MT4, MT5, TradingView and NinjaTrader.

4.5/5

FOREX.com is owned by NASDAQ-listed StoneX and is one of the largest forex brokers in the United States. It offers 80+ currency pairs on its own platform, MT4, MT5, TradingView and NinjaTrader, with both spread-only and commission-based RAW pricing.

Pros

Owned by StoneX, a NASDAQ-listed financial services group
Wide platform choice including MT5 and TradingView
RAW pricing account for active traders

Cons

Standard account spreads are average
Forex only for US clients

EUR/USD: 1.4 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: CFTCNFAFCACIRO+3
Platforms: FOREX.com Web, FOREX.com App, MT4, MT5

Interactive Brokers

Lowest cost for larger traders, with interbank spreads.

4.7/5

Interactive Brokers gives retail traders institutional forex pricing: spreads from about 0.1 pips and a small commission based on trade value. It is also the most complete multi-asset broker available, but its professional platforms have a steeper learning curve.

Pros

Interbank spreads with very low commissions
Trade forex alongside stocks, futures, options and bonds
S&P 500 listed with the strongest regulatory profile

Cons

Trader Workstation is complex for beginners
No MetaTrader support

EUR/USD: No spread-only account
Raw / lot: $5.0
Min. deposit: $0
Regulators: SECFINRACFTCNFA+6
Platforms: Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal

OANDA

Best for beginners and API traders, with no minimum deposit.

4.3/5

OANDA was one of the first online forex brokers and is still one of the most trusted in the US. There is no minimum deposit, trade sizes start at a single unit, and its REST API, TradingView integration and MT4 support appeal to both beginners and systematic traders.

Pros

No minimum deposit and flexible position sizing
Long track record and multiple tier-1 licences
Popular REST API for automated trading

Cons

Standard spreads are average for US brokers
Smaller pair selection than FOREX.com or tastyfx

EUR/USD: 1.4 pips
Raw / lot: $6.0
Min. deposit: $0
Regulators: CFTCNFAFCAASIC+3
Platforms: OANDA Web, OANDA App, MT4, TradingView

Charles Schwab

Best for existing Schwab clients, on thinkorswim.

4.5/5

Charles Schwab offers spot forex through the award-winning thinkorswim platform, inherited from TD Ameritrade. It is ideal if you already invest with Schwab and want to add currency trading without opening another account, though spreads are wider than forex specialists.

Pros

thinkorswim is one of the best charting platforms available
One login for stocks, options, futures and forex
Exceptional research and education

Cons

Wider spreads than tastyfx or Interactive Brokers
Forex requires a margin account and separate approval

EUR/USD: 1.2 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: SECFINRACFTCNFA
Platforms: thinkorswim Desktop, thinkorswim Web, thinkorswim Mobile

How we chose these brokers

CFTC/NFA status: Every broker listed is a CFTC-registered RFED or FCM and an NFA member. You can verify each one on NFA BASIC.
Cost: Typical EUR/USD spread and any commission or core pricing option.
Platforms: MT4/MT5, TradingView and the quality of in-house platforms.
Fit for US rules: All US brokers cap leverage at 50:1 on majors and must apply FIFO and no-hedging rules.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Is forex trading legal in the US?

Yes, as long as you trade with a broker registered with the CFTC and a member of the NFA.

Can Americans use IC Markets, XM or Exness?

No. These brokers do not accept US residents because they are not registered with the CFTC.

What is the maximum leverage for forex in the US?

US rules cap retail leverage at 50:1 on major currency pairs and 20:1 on minors and exotics.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.