The 8 best forex brokers in the USA

To be recognized as one of the best forex brokers in the USA, a brokerage needs to give you a large number of currency pairs, low spreads, minimal costs, and the best trading platforms with analysis tools. Strong customer service and education resources are essential, too. This list of top brokers for U.S.-based traders can help you narrow your options and make your choice.

Here are the top eight best brokers for U.S. traders, updated for 2026:

1. OANDA – Best broker overall
2. FOREX.com – Top for low spreads
3. tastyfx – Good beginner experience
4. Interactive Brokers – Great low commissions
5. Schwab – Strong customer support
6. eToro – Great social and copy trading
7. Trading.com – Wide selection of pairs
8. Plus500 – Good for futures trading

All these brokers listed are regulated by both the Commodity Futures Trading Commission (CFTC) and by the National Futures Association (NFA) making them suitable for U.S. traders. The sole exception is eToro, which is regulated by the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) within the USA.

1. OANDA - Best US forex broker overall

TradingView awarded OANDA as "Broker of the Year" – making this award-winning broker a worthy winner for this list.

The reasons OANDA is highly rated include competitive commission-free spreads with low costs and a large range of currency pairs. Support for top trading platforms like MetaTrader 4, its own OANDA Trade platform and TradingView are other reasons that make OANDA notable.

A wide range of forex pairs

OANDA gives you 68 different forex pairs to trade with – among the largest number from any of the brokers appearing on this list. These 68 pairs include all of the majors (aka the most commonly traded currency pairs) along with minor, exotic pairs and cross pairs. This variety gives you access to different volatility levels.

In addition to Forex, OANDA also works with Paxos, giving you access to cryptocurrency instruments. Access to the Paxos iBit exchange via OANDA software allows you to trade popular currency pairs like Bitcoin, Ethereum and Litecoin.

Futures offering

In partnership with Wedbush, OANDA makes it easy to trade on the futures market. Types of futures available include nano, micro and e-mini contracts which can be used to buy a wide range of products. These products include U.S. indices, agriculturals, financials, commodities and precious metals like gold. To get started trading futures, OANDA includes an expedited account opening process.

Rebates on the Elite Trader program

For high-volume traders in the U.S., OANDA also offers its Elite Trader Program, which can further reduce your overall trading costs. If you trade at least $10 million in notional volume per month, you become eligible for rebates that range from $5 to $17 per million traded, depending on your volume tier. This rebate is paid directly as cash back, effectively lowering your cost per trade on top of OANDA's already tight spreads. If you are a trader moving significant volume, these rebates can translate into double-digit percentage reductions in total trading fees, making OANDA one of the most cost-effective choices for active U.S. forex traders.

In the US, OANDA also offers Core Spreads + Commission pricing (similar to Raw style accounts). For example, the minimum spread on EUR/USD is 0.4 (average 0.5), and the commission is $5/100K units. These commissions are lower than OANDA's nearest competitor, Forex.com, which charges $7/100K USD in volume. They achieve lower spreads by sourcing them straight from the banks themselves. In other words, there's no internal liquidity created by the broker and no one at OANDA with the power to alter the pricing of your trades.

Trading tools and platforms

OANDA gives you a few platform options to choose from: MetaTrader 4 (MT4), OANDA Trade, and TradingView.

MetaTrader 4 features

MetaTrader 4 offers 30 technical indicators, 23 analytical objects and 9 timeframes. You can also customize your indicators using EAs. MetaTrader 4 is the most popular and used mainstream platform in the market.

Justin Grossbard from CompareForexBrokers cited MT4's Expert Advisors, or EAs, as one of the platform's strongest features. "These features are bots that can automate your trades for you. You can use the MetaQuotes coding language to create your own customized bot. Or you can do what I do, and either buy a free EA or download one from the Marketplace."

OANDA also gives you even more EAs, and 28 technical analysis tools, through the MT4 Premium Upgrade. There's also the MT4 Orderbook Indicator, exclusive to OANDA.

OANDA Trade

OANDA Trade is the broker's platform, and it integrates Advanced Charts by TradingView to give you more than 65 technical indicators and drawing tools. Things like Autochartist's automated chart pattern recognition and the Economic Overlay help you to stay on top of the latest market movements.

TradingView

You can also use TradingView to execute trades. This is part of OANDA's partnership with TradingView, giving you the opportunity to use advanced charts by TradingView in OANDA Trade or simply use the TradingView platform itself.

TradingView is one of the best platforms available for more advanced traders, largely thanks to plenty of indicators and analysis tools. There are more than 400 indicators built into the platform, as well as more than 110 smart drawing tools.

Pine Script is TradingView's coding language, which you can use to create your indicators. If you have programming experience, you will be able to create these indicators with just a couple of lines of code.

Account management

There is no minimum deposit with OANDA, so you can start trading with any amount of money. Multiple payment methods are available including Debit/Visa, Debit/Mastercard, ACH transfers and wire transfers. These options are also offered for withdrawals.

Loyalty program for high-volume traders

If you are a high-volume trader, OANDA has a discount program called the "Elite Trader Program." This program has five different tiers with a monthly trading volume of $10 million to qualify for the lowest tier.

This lowest tier gives you a rebate of $5.00 for each million traded, rising to $7.00 on the second tier, then $10.00, $15.00, and, finally, $17.00. OANDA states that the $17.00 rebate can cut your costs by 34% on average.

There are other benefits including free VPS, discounted rates for third-party tools, regular interest payments on unused margin over $10,000, additional content and trading events, and personal support from a dedicated relationship manager.

OANDA final verdict

OANDA is the best broker overall for U.S. traders. The tight spreads which are consistently lower than the industry average are an excellent point of difference for this broker. The support for MetaTrader 4 is another positive aspect, although the proprietary OANDA Trade platform is excellent, too. OANDA's platform is also one of the most intuitive pieces of trading software around, offering a gentle learning curve for beginners.

2. FOREX.com - The broker with the lowest spreads

FOREX.com is one of the most popular forex brokers in the United States. The broker's most outstanding feature is its low spreads, thanks to its RAW account, which gives you access to interbank trading rates and spreads as low as zero pips with a fixed commission fee.

RAW account spreads

Forex.com offers two account types: the Standard Account with no commission but wider spreads and the RAW Account with tighter spreads plus a commission fee.

The RAW Account's commission is $7 (each way) for every $100,000 you trade, giving you much tighter spreads. In January 2026, FOREX.com was offering a 0.0 pip spread on the EUR/USD pair through the RAW Account. Spreads with the standard account start from 1.2 pips and have no commission. 

Products available to trade include 82 Forex pairs along with futures and options. To trade the latter, you will need to sign up with StoneX Futures and use the NinjaTrader platform.  

Active trader rebates

FOREX.com gives you the Active Trader Program, designed to support and reward high-volume traders. The program provides cash rebates that increase as your monthly trading volume does, reducing trading costs by up to 15%.

Trading platforms and tools

FOREX.com gives you a selection of different trading platforms. This includes their proprietary platform, as well as the ever-popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView and NinjaTrader (for futures trading) software.

FOREX.com WebTrader and mobile apps

You'll be able to use the broker's platform either straight through your web browser or on an Android or iOS mobile app. With this platform, FOREX.com has gone a similar route to OANDA, enhancing the capability of its software with TradingView's tools. This means you get more than 80 technical indicators, 50 drawing tools, 14 timeframes and multiple chart types.

MetaTrader 4 and MetaTrader 5

As well as the broker's platform, you've also got MetaTrader 4 and MetaTrader 5. MT4 ensures you have the essential trading analysis tools for trading while MT5 is an upgrade since it has a richer range of analysis tools like 21 timeframes and over 80 indicators. Both platforms support expert advisors, allowing you to build your own automations and custom indicators. 

TradingView

TradingView is another excellent platform that you can use to trade through the Forex.com brokerage. There are over 400 built-in indicators and strategies here, with Volume Profile indicators, Candlestick pattern recognition and more than 100,000 public indicators. The platform's Pine Script coding language enables you to build your indicators if you are looking to execute a more advanced strategy and have some coding experience.

Additional tools

There are useful tools available to you when you trade through FOREX.com. Trading Central is one of the leading technical analysis providers in the U.S. market, while SMART trading signals give you real-time ideas as you develop your strategy. Other tools include pivot points and traders sentiment.

FOREX.com final verdict

It's the low spreads on the RAW Account that really stand out here. The fact that you can gain spreads as low as zero pips is really going to help you keep your costs down when you trade. The Active Trader Program with its cash rebates is strong, plus there's support for MT4, MT5 and all the additional tools.

3. Interactive Brokers – The all-in-one broker 

Interactive Brokers (IBKR), an automated global electronic broker, offers multi-asset trading services to clients, all from a single unified account. As a US resident you can trade futures, bonds, and forecast contracts, or invest in stocks, ETFs, and options, and more, on 160+ global markets from a single account. 

Key advantages of Interactive Brokers

• Global access to markets: From stocks, forex, commodities, to bonds, the IBKR platform gives access to most worldwide exchanges for asset trading.
• Low fee trading: The IBKR Lite pricing plan gives commission-free stock trading, while IBKR Pro users pay low fees. For example, a $25,000 US stock trade under the IBKR Pro – Fixed plan would incur about $5 commission with no added platform fees. For IBKR Pro clients, IB SmartRoutingSM helps support best execution by continuously searching for the best available prices for stocks, options and combinations across exchanges and dark pools.
• Near-Interbank currency conversion: If you want to buy overseas stocks, you need to convert your USD to the local exchange currency. For currency trades executed under the auto currency conversion service, IBKR will typically add or subtract (at its discretion) 0.03% to the exchange rate that would otherwise apply. IBKR does not separately charge a commission on these auto-conversion trades. That is versus up to 3% by banks.
• Interbank Forex trading: IBKR is an actual ECN broker, meaning it provides direct interbank forex quotes with spreads set by the market. For a standard lot (100,000 units traded) in the lowest pricing tier (monthly trade value ≤ USD $1 billion), commission is 0.20 bps of trade value, with a USD $2.00 minimum per Order.

Interactive Brokers Final Verdict

Interactive Brokers is the lowest fee broker, but their platform and customer service is not geared towards beginner traders. It can take months to adjust to their trading platform and trading flow logic, but recent upgrades have dramatically improved their trading app and functionality. If you are looking to trade more than just forex and want the low institutional-like fees, then IBKR is the right choice for your needs.

4. tastyfx (formerly IG) - Good beginner experience

The developers at tastyfx designed their trading systems and interfaces for beginner traders, so everything is very clearly laid out and easy to find. The broker also keeps trading simple by only offering Forex pairs for trading, but with nearly 82 pairs available, the range is impressive. These pairs start from 1.2 pips and have no commissions. 

Forex trading platforms

The range of trading platforms tastyfx offers is impressive, with four platforms to choose from, it is more than every other broker on this list. With this broker you can choose from tastyfx's own platform, MetaTrader 4 (MT4), MT5, TradingView and ProRealTime. 

The proprietary platform comes with advanced charts from TradingView which include 80 technical indicators, 14 time interval and 50 drawing tools. Along with 100% of trades being executed in under one second and an average execution speed of 0.002 seconds make tastyfx excellent for technical analysis. 

MT4 and MT5 have already been discussed and are top platforms to consider, especially for automations and creating custom indicators. TradingView platform is also available and this platform has even more charting features plus social trading. The last platform, ProRealTime has automation capability and a rich range of charts to choose from but does require a subscription or minimum trades per month for free access. 

Education and resources

tastyfx's 'Learn' offers resources, including evergreen articles, live training sessions, interactive webinars, a demo account, a free economic calendar and analytical tools. If you need a broker with good forex education materials, tastyfx may be the top choice. 

tastyfx final verdict

tastyfx makes the list because it offers the best range of trading platforms. The education features, demo account and intuitive interfaces make it great for newcomers, while 82 Forex pairs make it an excellent choice for Forex trading.

5. Schwab - Strong customer support

The main advantage of Schwab is its customer support, which is run by a service team that knows the markets well, is based in the United States, and can answer questions quickly and satisfactorily.

Trading accounts

There's no minimum deposit when on the trading account and you also won't incur any fees for adding or withdrawing money. There are no commissions on the broker's spreads unless you are using broker-assisted trading. Although Schwab's Standard Account spreads start at 1.0 pip, they average out at around 1.40.

thinkorswim platform

One of the strongest features of Schwab is the thinkorswim trading platform available on desktop (one of the few available on Apple Mac), web and mobiles. This software stands out due to their technical analysis tools which is over 400 in total plus 20 drawing tools. You can also create your own algorithms, watchlists and custom indicators using Thinkscripts.

Schwab Trading Powered by AmeriTrade

In May 2024, Schwab formally acquired TD-AmeriTrade, this acquisition means you get the best of both brokers. In addition to the thinkorswim platform, you get an extensive trading education suite which includes Schwab Coaching™, paperMoney and insights with the Schwab Network. You also get Forex, stocks and ETF trading with $0 commission plus $2.25 per contract for futures. 

Customer service for U.S. traders

The U.S.-based support desk is staffed by professionals with direct experience trading who provide very fast response times, around the clock, throughout the trading week. Live chat is one of the most popular methods to get support from the broker, but you can also use dedicated telephone support lines including standard brokerage services, TTY for the hearing impaired, and lines for Spanish, Mandarin or Cantonese.

Schwab final verdict

Knowledgeable customer support, available 24 hours a day during the trading week, is what earned Schwab a place on this list. If you value U.S.-based support, this could be a good choice for you. thinkorswim is another plus point for the broker. The platform is a strong option, thanks to good testing and market research tools, although it's unfortunate that the broker doesn't support MetaTrader 4 or TradingView.

6. eToro - Social and copy trading

eToro is very much based around copy and social trading, which means you'll be looking at what leading traders are doing and copying their market movements.

Copy trading

The CopyTrader system lets you find other traders to copy and then mirror their trades. The filtering tools are useful here, as you can narrow down your search based on risk level, asset class and other criteria.

If you are a successful trader yourself, you can earn additional income through the eToro Popular Investor Program. By becoming a trader that others want to copy, you can gain 1.5% of all the capital used to copy your positions – provided you meet eToro's criteria.

ETF and stock investing

Away from their offerings as a retail foreign exchange dealer, eToro can help you build your long-term investment portfolio with ETFs and stocks. The platform offers 2,083 stocks and 269 ETFs across various sectors.

Cryptocurrencies

There are also more than 24 cryptocurrencies available, ranging from Bitcoin and Ethereum to altcoins. This is another opportunity to diversify your portfolio, this time with the emerging assets in crypto.

eToro final verdict

The main reason to choose eToro is the platform's CopyTrader system. If you would prefer to copy the trades of others, rather than build your own strategy, eToro is a good choice. You can also earn money through eToro's Popular Investor Program if other traders copy your successful trades.

7. Trading.com - Wide selection of pairs

Trading.com is aimed squarely at the forex market. The broker provides a specialized forex trading account for U.S. clients with over 70 currency pairs, no commission fees and a low minimum deposit.

Currency trading

The T1 Account gives you access to more than 70 currency pairs with no commission, using U.S. dollars as the base currency and requiring a low minimum deposit starting at $50. Ross Collins, a senior analyst at CompareForexBrokers, explains the leverage options available. "Leverage is available in the U.S. and varies depending on whether it's a major, minor or exotic currency pair you are trading," Ross says. "For instance, if your trading strategy involves a major currency pair like EUR/USD, Trading.com will offer a maximum leverage of 50:1. If you are trading an exotic currency pair like the USD/TRY, your leverage will be limited to 4:1," he continues.

Trading platforms

Trading.com gives you the choice of using their proprietary platform or MetaTrader 5. The proprietary web trader platform and mobile app are perhaps a little basic for some traders. MetaTrader 5 is the better option, giving you web trader and mobile app options plus a suite of sophisticated charting and research tools.

Trading.com final verdict

The broker offers 70 currency pairs, covering major, minor and exotic forex instruments, allowing for a diverse forex strategy. MetaTrader 5 support strengthens the broker's position.

8. Plus500 Futures - Good for futures trading

Plus500 Futures is a very strong choice if you're into futures trading, which can be a tricky form of trading to get into. It's made easier by the fact that the Plus500 brokerage gives you some intuitive platforms to work with. You've got micro and mini futures contracts available to you. This is a great feature, as you'll be able to open a position with a lower margin when you use these contracts.

Futures markets

You can trade futures contracts using assets like forex, cryptocurrencies, agriculture, metals, interest rates, energy and equity indices. One thing that often puts people off futures is the minimum day trading margins. With Plus500, though, these margins stay low. Opening a micro Bitcoin future will require that you put up just $100 in margin, meaning you've got easy access to crypto futures.

Plus500 final verdict

As a broker, Plus500 offers a gentle and accessible introduction to futures trading. The tools are designed to be easy to use, and the micro and mini contracts mean you can get started without risking too much of your capital.

Final thoughts: The best forex brokers in USA markets

The best forex broker for U.S. retail traders overall is OANDA. OANDA gives you well-rounded trading conditions and some of the strongest features across several different categories. Its range of forex pairs is one of the broadest from any of the brokers listed here, with 68 currency instruments. The proprietary platform combines an intuitive set of interfaces with advanced trading tools, backed up by support for MetaTrader 4.

FAQs

What Forex account types do brokers offer?

The regulated forex brokers on this list might offer several different accounts. But the most common account types you'll see repeatedly are Standard Accounts, RAW Spread Accounts and Demo Accounts.

With a Standard Account, there's no commission. Instead, there's a wider spread. The broker makes its money off this spread. With a RAW Account, the spread is lower. You'll have to pay a commission on this type of account.

Finally, the Demo Account. This is where you will practice making trades without the risk. It's really important that you use your Demo Account to get used to using the broker's tools and features. Then, and only then, you can open one of the live accounts and trade.

Are forex brokers and forex trading legal in the U.S.?

Yes, it is perfectly legal to trade forex in the United States, as long as the broker is properly regulated. It is the Commodity Futures Trading Commission (CFTC) that regulates the industry and brokers should also be members of the National Futures Association (NFA). All of the brokers on this list have both accreditations.

What are the best trading platforms for U.S. forex traders?

MetaTrader 4 (MT4) is the most popular forex trading platform worldwide among retail investors. The platform gives you an interface that is highly user-friendly, as well as a strong mobile app.

MT4's Expert Advisors (EAs) are also strong and are some of the best and most diverse automated trading bots available to you. MetaTrader 5 (MT5) builds on MT4, with advanced indicators and enhanced charting tools.

TradingView is another platform offered by top forex brokers, particularly for more advanced traders. You'll get access to a huge range of over 100 indicators and a wealth of charting tools.

OANDA Disclaimer

OANDA Corporation is authorized to provide specific financial services and is regulated by the CFTC/NFA. OANDA is a member firm of the NFA (Member ID: 0325821). CFDs like foreign currency contracts for difference are not available to U.S. residents.

Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA's regulatory oversight and examinations.

Trading on leverage always increases the risk you face, and can result in losing money quickly. We advise that you consider very carefully whether leveraged trading, or any form of trading, is right for you. Seek independent financial advice and ensure you fully understand the risks involved before you begin trading.

Futures trading is provided by Wedbush Futures, a Division of Wedbush Securities Inc. ("Wedbush"). Wedbush is a Futures Commission Merchant and Registered Broker-Dealer. Futures trading involves the substantial risk of loss and is not suitable for all investors. Each investor must consider whether this is a suitable investment since you may lose all of or more than your initial investment.