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 different currency pairs to trade with, as well as low spreads and minimal costs.

You'll also need the tools to make those trades, so these leading brokers will support the best trading platform software available and provide you trade analysis and execution tools.

This will be supported with strong customer service channels and all the education resources you need to become a better trader.

But once you have put together a short list of different broker candidates, how do you decide which is the best for you? 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 2025:

• OANDA – Top overall
• FOREX.com – Low spreads
• tastyfx – Good beginner experience
• Interactive Brokers – Low commissions
• Schwab – Strong customer support
• eToro – Social and copy trading
• Trading.com – Wide selection of pairs
• 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" – so it's a worthy winner for this list. 

Reasons OANDA is highly rated include competitive commission-free spreads (which reduce your trading costs) and a large range of currency pairs. Support for top trading platforms like MetaTrader 4, its own OANDA Trade platform, and, of course, TradingView are other reasons that help push OANDA to number one.

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. A wide range of pairs not only gives you more options, since some pairs are more volatile than others, but it also allows for diversification in your portfolio.

These 68 pairs include all of the majors (aka the most commonly traded currency pairs), minor and exotic pairs and cross pairs, too. 

If you're a beginner trader, start by focusing on the most common currency pairs. As you gain more experience, you can explore new markets to expand your trading.

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

Tight spreads with zero commission

Tight or low spreads are key to any analysis of a forex broker. It's these spreads that are going to contribute the bulk of your trading costs, so it makes sense to look for a broker with tight spreads.

OANDA actually does very well here. While testing the most commonly traded forex pairs, analyst Ross Collins from CompareForexBrokers found that OANDA's Standard Account came out with spreads 25% below the industry average.

And, often, the average spreads were even tighter. The typical industry spread on the AUD/USD pair, for instance, is 1.5 pips. With the OANDA Standard Account, the average is just 1.3 pips – a reduction of around 26.7%.

This is an average spread, of course, rather than a minimum. The spread on the AUD/USD pair can be as low as 1.1 pips. The EUR/USD, meanwhile, has a minimum of 1.4 pips (avg 1.5 pip). OANDA applies these values according to your order size – usually, the smaller the order size, the smaller the spread.

In the US, OANDA also offers Core Spreads + Commission pricing (similar to Raw style accounts). For example, the min 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 volume.

The broker's team explains that they achieve lower spreads by sourcing their spreads 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.

The reason no one at OANDA can change your trade pricing is because of their automated technology – which they have built themselves.

Trading tools and platforms

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

Each platform has its upsides and downsides, and choosing the right one depends on your trading strategy and style.

MetaTrader 4 features

MetaTrader 4 offers 30 technical indicators, 23 analytical objects and nine time-frames. You can also customize your indicators using EAs, to get a bit more personalization out of the platform. While some competing platforms have more such tools, MT4's simpler range means the focus is on the tools you are most likely to use. 

Justin Grossbard from CompareForexBrokers explains, "While some platforms have more indicators, MT4 removes the clutter that more bells and whistles can sometimes lead to. In my opinion, this makes MT4 more efficient for trading."

Justin also cited MT4's Expert Advisors, or EAs, as one of the platform's strongest features.

"I regularly use EAs when I trade myself," Grossbard continued.

"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. There should be plenty here to suit most trading styles," he says. 

OANDA also gives you even more EAs, and 28 technical analysis tools, through the MT4 Premium Upgrade. This is another valuable aspect of the broker that helps secure its position in the top spot.

There's also the MT4 Orderbook Indicator, exclusive to OANDA. This indicator helps you understand market sentiment by giving you a look at all open orders and positions across the OANDA order book, integrating this data into your own charts. 

The indicator has a 20-minute delay for most clients and a five-minute delay for clients in the Elite Trader program.

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 and predict those yet to emerge.

Another integration is Dow Jones FX Select, which provides a flow of news and updates delivered in real time.

Overall, OANDA Trade is a strong platform option. While many traders will prefer sticking with what they know – MetaTrader 4 for example – Trade offers enough powerful features to make it a serious contender.

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. In testing, it appears that using Pine Script is going to be difficult if you don't have any coding knowledge. But if you do have programming experience, you will be able to create these indicators with just a couple of lines of code.

This is quite a lot better than some other trading feature programming protocols, which require longer and more complicated sets of code.

Account management

There is no minimum deposit with OANDA, so you can start trading with any amount of money, helping you to stick within your budget and trade responsibly.

For this deposit, you have the option of using 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 to this program, too. These include:

• Free VPS, offering protection from potential outages, and access to trading on a 24/7 basis
• Discounted rates for third-party tools, such as the TradingView features mentioned above
• Regular interest payments on your unused margin when that margin exceeds $10,000
• Additional content and trading events for Elite traders
• Personal support from a dedicated relationship manager, enhancing the customer care experience

Elite Trader is not going to be suitable for everyone. But if you qualify for one of the program's tiers, the additional bonuses and cost savings may be attractive.

OANDA final verdict

OANDA is the best broker overall for U.S. traders. The tight spreads – consistently lower than the industry average – are an excellent point of difference for OANDA.

The tiered loyalty program will suit some traders, but many forex traders will be happy enough just using the broker's standard features. Which category you find yourself in depends on your own trading style and approach to the market.

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.

Some traders have pointed out that there are overnight fees applied to your trades and inactivity fees of $10 a month applied if your account remains dormant for 12 months or more.

This is true, but it's also very much standard for the industry – most brokers are going to charge this, but without offering the well-rounded trading experience OANDA provides.

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.

This RAW Account gives you access to interbank trading rates. This means you can potentially access spreads as low as zero pips with a fixed commission fee attached.

There are other benefits of trading with FOREX.com as well. You'll gain access to a broad selection of different trading instruments, such as spot forex markets and futures markets on commodities, cryptos, equity indices, currencies and interest rates.

RAW account spreads

You have a couple of account types at your disposal when you trade through Forex.com: the Standard Account and the RAW Account. The Standard Account means you don't pay a commission but trade on slightly wider spreads. It's the commission-based RAW Account that is the most interesting option here.

Paying a commission fee might be off-putting for some, but it's actually among the most cost-effective ways to trade. For example, Forex.com's commission fee is $7 for every $100k you trade, which isn't much, and will give you a much tighter spread.

In January 2025, FOREX.com was offering a 0.0 pip spread on the EUR/USD pair through the RAW Account. One thing to note is that while the RAW account has lower spreads, once the $7 commission per $100k is factored in, the Standard Account with spreads from 1.2 pips is likely to be cheaper. 

Account funding

You can fund your Forex.com account in several different ways, supporting different trader preferences. These include bank transfers (ACH), Mastercard and Visa debit cards or wire transfers.

There is a minimum deposit requirement when opening an account. But this is fairly low – only $100. You'd need to be depositing this amount at least to start opening trades anyway, so this minimum requirement isn't really a bad thing.

Active trader rebates 

FOREX.com gives you the Active Trader Program, designed to support and reward high-volume traders. The program provides cash rebates and these rebates will increase as your monthly trading volume increases.

At the highest levels, the rebates can reduce your trading costs by up to 15%. This is not quite as big a savings as OANDA's Elite Trader program, but it's still pretty good.  

Additionally, you can enjoy the services of a personal relationship manager if you qualify for this program, as well as daily interest applied to unused margins and reimbursed wire transfer fees.

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) and MetaTrader 5 (MT5) 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.

That this is available through an intuitive and easy-to-use interface is a real bonus.

MetaTrader 4 and MetaTrader 5

As well as the broker's platform, you've also got MetaTrader 4 and MetaTrader 5. These are excellent trading platforms, with automated trading bots like Expert Advisors.

Using these platforms through FOREX.com gives you a number of other tools and features to use. This includes nine in-built Expert Advisors and 15 unique indicators – a strong addition to an already solid set of tools.

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. 

Strong back- and forward-testing features give you the chance to simulate how your coded indicator or strategy will work before you start using it on live trades.

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.

But it's the support for Capitalise.ai that is perhaps the most interesting aspect here. Expert Advisors are excellent automated trading bots, but it can be tricky to code your own EA. Capitalise helps you create your algo-trading bots even without any coding experience – you just need to input your own rules and parameters and the software will do the rest.

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 might not be as good as OANDA's Elite program, but it's still strong. And then there is the support for MT4, MT5 and all the additional tools. All of this contributes to a strong overall performance from the broker.

3. 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. 

It's still possible to get stuck when you trade, but tastyfx has tried to reduce this risk with educational resources and customer service channels to help you out.

While this points to a good experience for relative beginner traders, the large number of different tradable markets makes this broker suitable for advanced traders, too.

Education and Resources

tastyfx's Learn offers resources that can help you learn how to trade forex if you are a beginner trader. This includes evergreen articles and content and more in-depth live training sessions and interactive webinars.

You can also practice on the demo account and use the broker's free economic calendar and their analytical tools. 

Reputation

All traders – beginners and otherwise – need a broker they can rely on. This is why trust and reputation are so important as you choose a broker. tastyfx's parent company, IG Markets, seems to have gained a decent level of trust from its users.

Over on TrustPilot, the company has a 3.8 out of 5 rating, which puts it in TrustPilot's "Great" category. The company is also one of the longest-serving in the industry, with over 45 years under its belt, and regularly supports more than 313,000 clients around the world.

It's also been recognized and rewarded by numerous different industry bodies. Industry expert Ross Collins from CompareForexBrokers.com says about the achievements, "I was particularly impressed that IG and tastyfx have won awards for Top Mobile App, Top Education and Top Trust Score at the ForexBrokers awards in 2024."

"While tastyfx is not necessarily my own favorite broker, I have had a good trading experience while using both the broker's mobile app and its supported MT4 app, so I can see why other industry bodies have recognized this," explains Collins. 

Forex Trading Platforms

You can choose from tastyfx's own platform and MetaTrader 4 (MT4) when you trade with the broker

The proprietary platform is probably the best for beginner forex traders, as its interfaces are a bit friendlier and more intuitive than MT4's. It is accessible across various devices, including web, tablet and mobile apps, and you'll be covered whether you're using an Android or an iOS.

MT4 is more capable, though, and experienced traders will probably prefer this. You'll get access to MT4's Expert Advisors (EAs) to automate your trading, as well as Autochartist for advanced chart analysis.

tastyfx final verdict

tastyfx makes the list because it offers a strong experience for both beginners and advanced traders. The education features, demo account and intuitive interfaces make it great for newcomers, while a strong range of markets and support for MT4 means more experienced users won't feel left out.

Both tastyfx and their parent group IG have won plenty of industry accolades and have a good standing in the industry. This suggests a proven and reliable track record from the broker.

4. Interactive Brokers - Low commissions

It is the low fees and commission rates that land Interactive Brokers (IB) a place in the upper half of this list. While commissions aren't everything, it's still nice to find low commission rates from a broker – and IB provides this while also offering some good trading tools.

Low trading fees

There are two main components to the fees you'll experience as you trade. One – the spreads, and two – the commissions.

IB's spreads seem to be fairly good for U.S. clients, as you can access interbank quotes and trade through leading liquidity providers.

And the commissions are low, too – in fact, this is something Interactive Brokers has made part of its whole marketing approach.

In January 2025, Interactive Brokers was advertising these commissions as 0.0002 x the value of the traded currency on their Ideal account. This was halved to only 0.0001 x the value of the traded currency when you upgrade to the Ideal Pro account.

Across both of these accounts, the minimum commission comes in at $2.50, but it will remain low even when you trade at higher volumes. The spreads might not be the absolute lowest in the industry – though they do remain competitive – but the right approach can make sure your trades remain cost-effective.

Charting tools for IB

IB provides trading tools through its Trader Workstation (TWS) area, giving you advanced charting features suitable for more experienced traders.

In the TWS area, you can analyze more than 150 financial markets, conduct tests and buy and sell trading positions. You'll be able to access TWS on the desktop, web-based or mobile version of the platform.

Interactive Brokers final verdict

It would appear that the trading experience is very good with Interactive Brokers if you are a U.S. trader. This is mainly because of the direct interbank pricing available through the broker, as well as the very low commission rates.

Regarding the downsides to the platform, unfortunately, they do not offer access to popular third-party platforms, such as TradingView and the MetaTrader platforms. Despite this, Trader Workstation ensures that IB still wholly deserves a place on this list.

5. Schwab - Strong customer support

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

This is the main advantage, maybe, but it's not the only one. The broker was recently taken over and rebranded, exchanging its old TD Ameritrade branding for a new name under the Charles Schwab Corporation umbrella.

While such changes often cause problems for brokers, it's actually improved Schwab, helping it to offer new features and to upgrade the support they provide.

Customer service for U.S. traders

The U.S.-based support desk is staffed by professionals with direct experience trading. These support teams can also give you very fast response times, which is definitely a good thing if you have an urgent query.

They are also available around the clock throughout the trading week, so you can gain the help you need, whenever the markets are open.

Customer Support Methods

Live chat is one of the most popular methods to get support from the broker, but you can also use the dedicated telephone support line. 

Schwab provides you with several different telephone channels. There's a standard line for brokerage services, plus a teletypewriter (TTY) service for the hearing impaired.

There are also dedicated lines for Intelligent Portfolios and trading services, as well as Spanish language, Mandarin or Cantonese Chinese, too.

While it's not 24 hours, you can also visit one of Schwab's branches for in-person support.

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.

While this lack of commission sounds great, it does mean you won't get access to the very best spreads in the industry.

Although Schwab's Standard Account spreads start at 1.0 pip, which is fairly standard for the industry, they average out at around 1.40. This is a little higher than the average for a Standard Account, and brokers like OANDA and Forex.com do better than this.

There is no RAW Spread Account option at Schwab.

You can only use the U.S. dollar as a base currency with Schwab and can only deposit money using a bank transfer. This might be fine for many American traders, although you might want a few more options at your disposal.

thinkorswim platform

One of the strongest features of Schwab is the thinkorswim trading platform. This software stands out due to a range of advanced trading and technical analysis tools, as well as useful research resources and testing features.

There are more features on other platforms like TradingView or MetaTrader 4. You may prefer these more popular platforms, but thinkorswim still provides a fairly competitive trading experience.

It is available as a web app, a desktop platform and a mobile trading app, and the iOS version can sync with your Apple Watch.

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 such as indices, dividends, bonds and commodities. 

You can also use Smart Portfolios that essentially curate your portfolio for you. This can be quite useful if you're looking to diversify but don't have the time to do this yourself.

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.

Of course, the platform also lets you go your own way if you prefer. If your trades work out, and people want to copy you, you can earn money through eToro's Popular Investor Program.

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.

As with all the brokers on this list, you'll be trading with leverage when you work with Trading.com. 

Ross Collins, a Senior Analyst at Compare Forex Brokers, explains the leverage options available for various forex pairs. "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 and lack some of the more advanced tools that the more famous third-party platforms can offer. 

MetaTrader 5 is certainly the better option of the two. You've got web trader and mobile app options here, but you also gain access to 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. This should be plenty, allowing for a diverse forex strategy.

Trading.com's platform is not bad, but the fact they also support MetaTrader 5 strengthens the broker's position. This is one of the best platforms available to analyze the markets, execute positions and automate trades.

8. Plus500 - Good for futures trading

Plus500 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. While this list is focused on forex, it's still good to see different asset classes made available.

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.

The range of markets is also broad. This means Plus500 can be a good choice if you are a more experienced futures trader, too.

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 is one of the best out of any on this list, too, as it combines an intuitive set of interfaces with advanced trading tools, thanks to integration with TradingView. This is backed up by support for MetaTrader 4 – still the most popular platform of all among forex traders.

That said, choosing a forex broker is always going to be a personal choice. It's recommended that you look through the whole list and consider some of the other options, too. The first step towards successful trading is selecting a broker that best suits you and your preferences.

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, so you might find calculating costs a little trickier. But if you have the right strategy, RAW accounts tend to be cheaper overall.

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 for real.

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, so all brokers must be regulated by this body.

Brokers should also be members of the National Futures Association (NFA). As you choose a broker, make sure they are approved by both of these bodies. All of the brokers on this list have both accreditations.

eToro is regulated by eToro who are regulated by the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) within the USA. This is because they offer stock trading and crypto trading rather than Forex trading. 

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.

While the app doesn't include all of MT4's features – like customized indicators, for example – it's still useful for trading when you are away from your desk. 

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.

This platform may be a good option for you if you want to analyze with a bit more depth and use a broader range of tools, although it is still not as popular as MT4 for forex.

You can access EAs on MT5, too, or code your own.

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 and can use the Pine Script coding language to create your own.

The trading community is another strong feature of the platform. There are plenty of social trading features built into the software – although you won't be able to copy trade directly, you will get plenty of trading ideas from community interactions.

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.

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

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.