3 Best Forex Brokers in the US for 2026
Americans continue to face stricter regulations and fewer broker choices than most other countries. However, with the increased regulation, greater transparency and safety are the trade-off. To determine the best forex brokers in the US, I focused only on those that offer their services to American traders legally.
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It should be mentioned that the United States is by far the most regulated jurisdiction for retail trading. So I made sure that all brokers listed here are registered with the CFTC and are members of the NFA, meaning your funds are held to some of the highest regulatory standards in the industry.
To I know that trading experience is not less crucial than safety, so I ran a test drive on each broker in this list, testing their trading platforms, spreads and commissions, available instruments, and overall offering.
List of Top US Forex Brokers
Compare All Listed Brokers
| Broker | Score | Fees Score | Min Deposit | Max Leverage | Platforms | Visit Broker |
|---|---|---|---|---|---|---|
tastyfx | 4.4 | 4.6 | $0 | 1:50 (CFTC) 1:50 (NFA) | MT4, ProRealTime, tastyfx Web Platform, tastyfx Mobile App, TradingView, MT5 | Forex trading involves risk. Losses can exceed deposits. |
Plus500 US | 4.5 | 4.6 | $10 | 1:50 (CFTC) 1:50 (NFA) | Plus500 Web Platform, Plus500 Mobile App | - |
OANDA US | 4.3 | 3.8 | $0 | 1:50 (CFTC) 1:50 (NFA) | Proprietary, MT4, TradingView | OANDA corporation is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. |
We’ve also made a video ‘Best Forex Brokers in the US’. Check it out below:
How Did I Select the Best Forex Brokers in the US?
- I made sure that each broker accepts US-based clients, is registered with the CFTC, and is a member of the NFA.
- I paid particular attention to their overall level of financial strength and transparency.
- I looked for a diverse range of pairs and other instruments, including major, minor, and exotic currency pairs.
- I paid close attention to the fees and trading costs, including spreads, commissions, swap fees, inactivity fees, and withdrawal fees.
- I reviewed all of the available platforms and looked for key features, including flexible charting, diverse order types, 1-click trading, watchlists, alerts, and an interface that is easy to navigate.
- I looked at these brokers and determined whether or not useful and informed analysis was available, and other such benefits, such as education, etc.
Best Overall
- $0Min Deposit
- 86Tradable Instruments
- LowFees
Why We Picked It
tastyfx might be a new name, but it’s not a new company. tastytrade got its start several years ago as a futures broker, but it was recently acquired by the massive IG Group, which has been running since 1974. IG is listed on the FTSE 250 and is well-known for its offerings in the CFD world. With over 85 currency pairs available for trading, there is a massive number of pairs to choose from.
Key Features:
- Regulated by the CFTC and NFA
- 86 currency pairs
- Average EUR/USD spread 0.8 Pips
- tastyfx Web Platform, tastyfx Mobile App, MetaTrader 4, ProRealTime, and TradingView
- Minimum deposit $1
- Dedicated support team for US customers via phone and email
- Volume-based cash rebates
- Not available for residents of Ohio
During testing, I found the spreads very tight, with the major pairs being as low as 0.6 pips in the case of the EUR/USD pair, and 0.8 pips in the case of the USD/JPY market. The swap fees and credits are a bit above average, with premium clients also getting substantial cash rebates, which also lowers trading costs.
tastyfx has a strong proprietary platform, both in a web-based version and a mobile one. The proprietary platform offers everything that a trader would typically be looking for, including intuitive charting, 1-click orders, watchlists, and more. Also, it has trader sentiment, a useful tool for those looking to swing trade. MT4 and MT5 are both available, as well as TradingView and ProRealTime, one of the most in-depth trading platforms out there.
Pros and Cons
- Tight spreads
- Over 85 forex pairs
- Several popular trading platforms
- $1 minimum deposit
- Only currency pairs are available for trading
Best Trading Platform
- $10Min Deposit
- 64Tradable Instruments
- LowFees
Why We Picked It
A giant of the CFD industry, Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art proprietary web platform and mobile app. Since launching in 2008, Plus500 is now available in over 50 countries and has 400,000 active clients. US clients can access futures contracts on forex, interest rates, commodities, equity rates, and cryptocurrencies.
Key Features:
- Regulated by CFTC and NFA
- 64 futures contracts, including 13 forex contracts
- Standard commission for contract $0.89
- As low as $300 margin requirement for /6E (Euro)
- Plus500 WebTrader and Plus500 Mobile App
- $100 minimum deposit
- Dedicated US support team
Plus500 has invested heavily in its proprietary platform, and it shows. The platform has a large range of features, including drawing tools and watchlists. The ability to change between a live and a demo account easily in the platform is a massive advantage as well.
The Plus500 platform has long been one of the favorites of CFD traders, and the futures version brings the same intuitive functions and ease of access that the CFD traders will have come to expect. The margins for contracts are low, especially for those looking for day trading.
The above information is NOT relevant to EU residents. EU residents are to be serviced by European-regulated subsidiaries of the Plus500 Group, such as Plus500CY Ltd, which is authorized and regulated by CySEC, license No 250/14. Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.
Pros and Cons
- Excellent web-based platform
- Plenty of features and modern design on the Plus500 app
- Low commissions
- Standard, Mini, and Micro contracts
- No phone support
Best MT4 Broker
- $0Min Deposit
- 69Tradable Instruments
- MediumFees
Why We Picked It
OANADA is one of the older names in the forex trading world, opening back in 1996. The New York-based entity is registered with the CFTC and is a member of the NFA. OANDA US offers 68 currency pairs, allowing plenty of diversification in the forex markets. OANDA US also offers 8 spot cryptocurrencies to trade through its partner, Paxos.
Key Features:
- Regulated by CFTC and a member of the NFA
- 68 currency pairs and 8 spot cryptocurrencies
- Average spread for EUR/USD is 1.4 pips
- OANDA’s web-based platform and mobile app, MT4 and TradingView
- No minimum deposit
- Volume-based cash rebates via the Elite Trader account
OANDA’s web-based platform has been excellent for years, as it is tried and true, battle-tested, and offers a massive amount of indicators and tools to the trader. OANDA offers several different order types and real-time news from Dow Jones. Sentiment data, via position sizing, is also offered, a valuable insight at times.
OANDA also offers an order book for the positions placed at the broker, allowing you to see open positions and orders of the broker’s clients. The trader can access potential liquidity because of this, and it allows a bit of “fine-tuning” when it comes to order placement, especially for scalpers. There is also a heatmap tool, showing the market movers, helping you find the more volatile pairs for trading.
However, for those looking to trade via the MeatTrader 4 platform, OANDA offers this time-tested platform. All of the functions of Expert Advisors and other add-ons are available. The execution speed is excellent, and the ability to customize the platform is what traders keep coming back to MT4 for. OANADA’s speeds and reliable backend functionality make this an obvious choice.
Pros and Cons
- 68 forex pairs and 8 cryptos
- Great customer support
- Industry-leading research
- No minimum deposit requirement
- Inactivity fee
All the Brokers We Tested
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About the Authors
Christopher Lewis is an experienced trader and technical analyst specializing on currencies, indices, and commodities. He also has been working as a proprietary trader for institutional accounts. Chris has been an FXEmpire analyst since the site's early days and shares his trading insights on his own blog, The Trader Guy. His sharp, practical understanding of the trading industry means he knows forex and CFD brokers inside-out, so you can trust his guidance on how they work and which one to choose.
Aviva is a Senior Content Editor at FXEmpire. Her substantial contributions include refining over 150 broker reviews and 'Best Brokers Guides,' enhancing our proprietary methodology, and ensuring every fact is meticulously verified.
As a Senior Content Editor at FXEmpire, Ola has revised and fact-checked over 200 broker reviews and guides. Her profound understanding of financial markets has been crucial in developing the proprietary rating system.