Finding USA forex brokers is easy with a simple Google search, but it’s not as simple to figure out which ones are trustworthy. Forex is an industry with great opportunities for profit for those with enough knowledge and a good strategy. But just like that, it is also risky if you don’t know what you’re getting into. Your forex broker is a factor that has a massive influence on your trading activity. Unless you do research and carefully research your brokers, you may run into a scam and lose money.
Let’s look at the 5 best US forex brokers of August 2024 to avoid unpleasant scenarios that put your money at risk.
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Forex.com
Due to its easily memorable domain, Forex.com is among the most popular forex brokers in the United States. The broker is a StoneX subsidiary and has been around since 1999, having enough time to gain the trust of many users. It has its own exclusive trading tools, including Capitalise.ai, NinjaTrade, Trading Central, and Smart Signals. There are more than 80 currency pairs, and the account minimum is $100.
Forex.com is regulated by the National Futures Association and the Commodity Futures Trading Commission in the US. The broker gives you up to 5% cash back when you make your initial deposit. You have more than 30 technical analysis indicators. US traders even get a leverage of up to 50:1. If you aren’t always at home with access to your computer or laptop, Forex.com allows you to trade through its mobile app. The only downside of the platform is that it has no negative balance protection.
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IG
You can’t go wrong with IG when it comes to forex trading in the US. It’s an extensive forex broker with incredible reach that offers access to more than 17,000 markets. As such, you can not just do forex trading, but also focus on other trades, like stocks, indices, commodities, and more. The versatility of this broker ensures you never get bored, not even when you take a break from your forex trades.
Traders have access to advanced analysis and charting features and a wide range of trading tools such as ProRealTime. The broker makes all features and platforms easy to use, being a suitable choice for both new and experienced traders. Its beginner-friendly nature is where it truly shines, though – the broker gives novices the opportunity to learn from interactive courses and live webinars.
IG is undoubtedly a leader in terms of forex trading, and it’s not surprising given it has won awards in the past.
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Trading.com
If you’re looking for a US forex broker with a very low minimum and low spreads, look no further than Trading.com. The broker makes trades straightforward. What it brings to the table, aside from various complex and useful features, is its user-friendly interface. Even if you’ve been into trading for only a few days, this broker makes the land of forex easy to understand.
Trading.com has been registered with the National Futures Association and the Commodity Futures Trading Commission. It has 69 currency pairs and a $50 account minimum. If you’re a new customer, you can also get a $100 no-deposit bonus, and what’s great is that the account registration process is pretty simple. The broker offers a leverage of up to 50:1. The spreads are also 0.9 pips, and the broker uses the MetaTrader 5 platform as well. You can get it for your browser, desktop, or mobile.
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Tastyfx
Forex trader beginners in the US will have a blast if they choose tastyfx to guide them in this new journey. The broker is incredible for new traders, even offering them opportunities for education. In order to help new users develop their skills for forex, they provide a myriad of high-quality educational resources. The forex broker is experienced in the market, and it was founded in 1974. Over the decades, it succeeded in becoming one of the world’s biggest forex brokers.
If you’re a new trader, tastyfx offers you the chance to get a bonus of up to $10,000. There are 8- currency pairs, and the spreads only start at 0.6 pips or $8 for each lot.
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Oanda
Oanda was approved in the US by the Commodities Futures and Trading Commission. The transparency of the broker makes it stand out, offering a great platform and honest pricing. Its spreads are competitive, and the technology used by the broker is excellent. This is obvious when you find out that Oanda uses a historical currency converter. If you want to see your currency pairs’ performance, Oanda gives you the chance to do so, helping you do a more accurate market analysis.
Final Thoughts
You have access to many forex brokers in the US. However, the top ones include Forex.com, IG, Trading.com, tastyfx, and Oanda. They offer great educational materials, competitive prices, and user-friendly platforms. Compare their features and settle for the best one.
