Compare Forex Brokers

For our forex comparison, we found 20 brokers that are suitable and accept traders from United States of America.

We found 20 broker accounts (out of 147) that are suitable for Forex.

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Forex.com

Spreads From

EURUSD 1.0 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Forex.com

  • Regulated by: Financial Conduct Authority.
  • Established in 1999 HQ in United States.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

70% of retail investor accounts lose money when trading CFDs with this provider

Read our in-depth Forex.com review

IG

Spreads From

EURUSD 0.6 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About IG

  • Regulated by: Financial Conduct Authority and ASIC.
  • Used by 195,000+ traders.
  • Established in 1974 HQ in UK.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

Read our in-depth IG review

Account type
EUR/USD Spread From
Commission
Execution
Min. Deposit
CFD
0.6
Fixed Spreads
Yes on share CFDs
STP
$250
Spread Betting
0.6
Fixed Spreads
None
STP
$250
Share Dealing
None
Fixed Spreads
£5
DMA
$250
ThinkMarkets

Spreads From

EURUSD 0.1 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

How to Find the Best Forex Broker

The Forex market is the world’s largest financial market in terms of volume, even if levels may have fallen from the highs of a few years ago when $6 trillion would change hands in a single day. Thus, with the continued popularity of currency trading, there are now a wide variety of online platforms and websites offering their forex trading services. However, not all forex trading platforms were created equal, and there are some which will provide the user with more amenities than others.

With a such a large number of brokers and different trading platforms to choose from, it is wise to have a look at a handful of the most important metrics to consider when choosing an online Forex broker:

1. Security

It is extremely important that the broker is able to offer adequate levels of security. This will generally be offered by brokers through SSL encryption (Secure Sockets Layer). All technical jargon aside, this is the same encryption software which banks and other financial institutions employ. Whether the broker offers this level of protection or not is normally displayed at the bottom of the homepage.

2. Customer Support

The levels of customer support offered by the broker can a useful barometer of the reliability of their website and services. Is there only a static “info@” contact email available or are there options such as telephone contacts and a live chat widget? Those platforms that offer multiple avenues of customer care can often be seen as being a more practical choice.

3. Regulatory Bodies

It is paramount to always use a trustworthy and reputable broker that is regulated by a respected authority such as the Financial Conduct Authority in the UK and CySEC in Cyprus. As a general rule, brokers who are regulated by a trusted regulatory body will clearly state this fact on their website.

4. Trading Spreads

One of the critical determinants of profits and losses in forex trading revolves around the amount of commission that the broker will charge per trade. This is often referred to in units known as pips. As a rule of thumb, lower pips will usually equate to lower commissions taken out during each trade. Still, other brokers could choose to charge no pip-based commission and instead make a profit when trading wider spreads. It is also worthwhile noting that some brokers will also display extremely tight spreads when dealing with common pairs such as the dollar/euro or the pound/euro.

5. Initial Deposit Amounts

One of the most attractive characteristics of Forex trading is that traders are not normally required to place a great deal of money down to open an account (in contrast to a commodities position such as gold). One of the signs of a reputable forex trading platform is one which will provide numerous entry levels based upon the needs of the trader.

6. Account Flexibility

With the number of different brokers available to them, Forex traders should be able to open up the right account for whatever amounts they wish to trade. While often called by different names, standard forex account options can include:

Micro accounts
Mini accounts
VIP accounts
Professional accounts

7. Depositing and Withdrawing Funds

When determining how capital can be deposited or withdrawn from the trading account, some of the most trusted payment methods include PayPal, TransferWise, credit cards and direct deposits. As all of these (and others) will employ SSL encryption, the trader’s personal details will remain secure. It is also wise to be aware of the withdrawal fees that will be taken by the broker. These will differ from broker to broker and comparing these charges will enable the potential day trader to better manage their potential profits and losses.

8. Currency Pairs

Many Forex brokers will provide traders with a great number of pairs to choose from. While standard pairs such as the GBP/Euro and Dollar/Euro are normally present, others including the Dollar/Yen should also be covered. The reason for this is that a larger number of pairs will help one to diversify a portfolio and avoid volatility within a certain currency.

9. The Trading Platform

In terms of functionality, the type of trading platform employed can be of the utmost importance. For example, how easy is it to track pairs in a real-time scenario? Are the account balance and any profits/losses visible within the main portal? How often is the site updated? Are “buy” and “sell” options clearly marked? The user must be completely comfortable with all aspects of navigation. Otherwise, an incorrect trade could be made, or an opportunity may be missed.

10. Demo Accounts

Many Forex brokers will offer demo accounts as an excellent way for traders to familiarise themselves with, and understand the functionalities of, their platform. While most of the larger Forex trading brokers will provide demo accounts as an option, it is wise to note that not all features (such as advanced analytical tools) may be available to trial.

While each of these features needs to be considered alongside all of the others, there is no one single metric which can determine how reputable and reliable a Forex trading broker will be.

Other variables such as how long the site has been in operation, as well as its recent financial performance, should be taken into account, as well as the level of protection offered by the local regulator.

Why Choose Forex.com
For Forex?

Forex.com scored best in our review of the top brokers for forex, which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:

  • 19+ years in business
  • Offers 300+ instruments
  • A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.00pips
  • Used by 0+ traders.
  • Offers demo account
  • 1 languages

Forex.com offers one way to tradeForex. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Forex.com have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19

Trust Score comparison

Forex.com IG ThinkMarkets
Trust Score AAA AAA B
Established in 1999 1974 2010
Regulated by Financial Conduct Authority Financial Conduct Authority and ASIC Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

A Comparison of Forex.com vs. IG vs. ThinkMarkets


Want to see how Forex.com stacks up against IG and ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Forex.com IG ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.00 0.60 0.10
GBP/USD Spread 0.9 0.9 1.2
USD/CAD Spread 0.9 1.7 0.9
USD/JPY Spread 0.90 0.70 0.10
DAX Spread 250.0 1.0
FTSE 100 Spread 150.0 1.0
S&P500 Spread 50.0 0.4

Comparison of account & trading features

Forex.com IG ThinkMarkets
Platform MT4, Web Trader, NinjaTrader, Tablet & Mobile apps MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex Forex, CFDs, Spread Betting, Share dealing Forex, CFDs
Base currency options USD, GBP, EUR USD, GBP, EUR, CHF, JPY, SGD, AUD USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Bank transfer, Cheque, DebitCard, Payoneer, Credit cards, Bank transfer, PayPal, MasterCard, BPAY, DebitCard, Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account

Frequently Asked Questions

What is the Forex market?
Forex Trading is the execution of transactions in the international foreign exchange market by exchanging one currency for another.
Who can trade on the Forex market?
Major participants in the forex market include central banks, large financial institutions, hedge funds, large commercial banks, major transnational corporations, high net-worth individuals and retail traders.
How large is the forex market?
The forex market is the largest decentralised unregulated capital market in the world, with an estimated turnover of £3-5 trillion per trading day. The Forex market is the world’s largest financial market in terms of volume, even if levels may have fallen from the highs of a few years ago when $6 trillion would change hands in a single day.
What currencies are the most popular for forex trading?
Many Forex brokers will provide traders with a great number of pairs to choose from. While standard pairs such as the GBP/Euro and Dollar/Euro are normally present, others including the Dollar/Yen as well as cross currency pairs should also be covered.
Do Forex Brokers charge commission?
One of the most critical determinants of profits and losses revolves around the amount of commission that the broker will charge per trade. This is often referred to in units known as pips. As a rule of thumb, lower pips will usually equate to lower commissions taken out during each trade. Still, other brokers could choose to charge no pip-based commission and instead make a profit when trading wider spreads.
Is the Forex market regulated?
It is paramount to always use a trustworthy and reputable broker that is regulated by a respected authority such as the Financial Conduct Authority in the UK or CySEC in Cyprus. As a general rule, brokers who are regulated by a trusted regulatory body will clearly state this fact on their website.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.