Trading forex in the US is not as easy as in Europe, because brokers need an NFA license to operate legally. In addition to this, forex regulation in the States doesn’t allow trading on the leverage higher than 50:1. Due to this, many top forex brokers stopped operating in the US, as the business conditions became harsh. This has led to the appearance of brokers operating without the license too.
Forex Bonus Lab has reviewed best US forex brokers. Scroll to see licensed and trusted US forex brokers, check their conditions and read full reviews.
US Fx Brokers Showcase
Every quarter Forex Bonus Lab reviews the offers of the best US brokers and selects the best one. Recommending unregulated US forex brokers is not our policy, so if you are looking for 500:1 leverage, this section won’t be helpful to you.
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Best US Forex Brokers Comparison
Forex Bonus Lab hasn’t found so far more decent US fx brokers, hence we would rather suggest you FXCM as the only choice. Once we find at least 3 similar class US fx brokers, the comparison chart will be available. Meanwhile, read below why FXCM is a solid choice.
US Forex Brokers vs US Trading Regulation
As we already mentioned, operating a US forex brokerage requires to be regulated by NFA. This regulation is quite tough, it requires large capital requirements and quite some paper work too. Also, NFA has shown itself as a regulator that puts large fines. This has both good and bad consequences for the traders from the US. Everyone is afraid of US prosecution, so it is much harder to encounter unlicensed US Forex Brokers than it is to find an unregulated European or Asian brokerage. Such practice kicked out most of the forex scams away from the US traders. But also it removed some great ex US forex brokers like Alpari and Oanda.
There are quite some local US forex brokers, yet Forex Bonus Lab would advice against then. Forex has been much more well spread in Europe and Asia than in the US, this is why US brokers offer less technological advancement in their services. As a broker that operates globally, Forex.com has been competing in terms of technology, customer service and pricing with best forex brokers for years. And it has managed to succeed. This is why Forex Bonus Lab recommends you choosing Forex.com as your best US fx broker.