Best Forex Brokers in the USA for 2025 (Strictly CFTC Regulated)

Finding a safe forex broker in the United States can be hard. The US market has strict rules, which protects traders but limits choices. This guide shows you the best brokers for US residents based on expert testing.

　　Our hands-on testing reveals these top 3 forex brokers in the USA for 2025:

• OANDA - Best Overall US Forex Broker
• FOREX.com - Best for Low Spreads and Platform Options
• IG US - Best for Beginners and Educational Resources

　　This review is different from others. We only look at brokers regulated by the Commodity Futures Trading Commission (CFTC). Our analysis checks real trading costs, how stable platforms are, and the quality of customer help from actual conversations.

Our Transparent Methodology

　　We created a trust-focused process to rank brokers. Our reviews are independent and use a standard framework to protect traders' interests. We believe in being completely open about how we reached our conclusions.

　　Our evaluation uses five main areas, each with specific importance:

• Regulatory Compliance & Trust (40%): This matters most to us. We check each broker's registration with the CFTC and National Futures Association (NFA). Any major penalties hurt this score.
• Trading Costs (25%): We analyze all fees deeply. This includes average spreads on major pairs like EUR/USD, commissions on RAW/ECN accounts, overnight fees, and any other charges.
• Platform & Tools (15%): We test the reliability and ease of use for all platforms (MT4, MT5, proprietary). We look at charting tools, technical indicators, and execution speed.
• Customer Support (10%): We test support channels ourselves. Our team asks real trading questions through chat and phone to measure response times and accuracy.
• Account Offerings & Usability (10%): We look at the whole client experience. This includes account opening ease, funding and withdrawal methods, and educational materials.

　　Our first check is always with the official Commodity Futures Trading Commission (CFTC).

The 2025 Broker Rankings

　　Here's our detailed breakdown of the top CFTC-regulated forex brokers for US traders. We've spent many hours testing these platforms with real money to give you useful insights.

OANDA - Best Overall

　　OANDA is the best all-around forex broker for most US traders. It combines strong regulation, fair pricing on standard accounts, and a user-friendly platform for both new and experienced traders.

　　The broker has been around since 1996 and has a clean record with regulators. OANDA's platform offers good charting and technical analysis tools, including TradingView integration.

　　During testing, we liked OANDA's clear pricing structure. The standard account has no commissions. Their spreads aren't the tightest but are competitive and consistent, which matters for most traders.

　　According to CFTC reports, OANDA holds a large portion of US retail client assets. This shows its strong position and the trust it has earned from American traders.

FOREX.com - Low Spreads

　　FOREX.com is best for traders who want to minimize costs. They offer several account types, including a RAW spread account with interbank pricing for a fixed commission.

　　This makes FOREX.com great for high-frequency traders and scalpers who need the lowest spreads. They also provide powerful platforms, including their Advanced Trading Platform and MetaTrader 4.

　　Our testing of the RAW account proved its value. During busy market hours, we saw EUR/USD spreads often at or near 0.0 pips. The commission structure is straightforward, making total trade costs easy to calculate.

　　FOREX.com is part of StoneX Group Inc., a public company. This gives them financial transparency and a leading position in the US retail forex market.

IG US - Best for Beginners

　　IG is a global brokerage leader, and IG US brings that expertise to American traders. We recommend it for beginners because of its excellent learning resources, easy-to-use platform, and great customer support.

　　The platform is clean and simple to navigate. IG offers a complete learning center with articles, videos, and courses to help new traders build knowledge.

　　When we tested IG's customer support, they responded quickly and helpfully. For new traders with platform questions or order issues, this level of support is valuable and sets IG apart.

　　IG Group is a FTSE 250 company, which adds financial stability. Their entry into the US market in 2019 gave traders another high-quality broker option.

Interactive Brokers - Advanced Traders

　　Interactive Brokers (IBKR) is a major global broker known for institutional-grade tools and direct market access. For experienced forex traders with larger accounts, IBKR offers an outstanding environment.

　　Its Trader Workstation (TWS) platform is extremely powerful. It has advanced order types, algorithmic trading features, and comprehensive analysis tools. Their pricing is very competitive, with tight spreads and low commissions.

　　Our team found that TWS takes time to learn but is incredibly powerful. Trading forex alongside stocks, options, and futures from one account is a huge advantage for traders who use multiple markets.

　　Interactive Brokers' size as one of the largest US brokers allows it to offer deep liquidity and competitive pricing that most forex-only brokers can't match.

tastyfx - Modern Simplicity

　　Tastyfx is newer to the US forex market and brings a fresh approach. They focus on providing a simple and intuitive trading experience through well-designed web and mobile platforms.

　　While it doesn't have all the features of Interactive Brokers, its focus on core functions and usability makes it great for traders who prefer simplicity over complexity.

　　In our tests, the tastyfx platform stood out. Account opening was quick, and the trading interface felt modern and responsive. It removes much of the clutter found on older platforms, which many traders will appreciate.

　　Launched by the team behind tastytrade, a popular options brokerage, tastyfx benefits from a parent company with experience in building user-friendly technology for active traders.

Beyond the Spread

　　The advertised spread is just the beginning. To understand your potential profit, you must look at the total trading cost. Many traders, especially beginners, overlook other important costs.

Swap Fees Explained

　　Swap fees are charges for holding positions overnight. They are the interest paid or earned for holding a currency pair, based on the interest rate difference between the two currencies.

　　For example, if you buy AUD/USD, you're borrowing US Dollars to buy Australian Dollars. If Australia's interest rate is higher than the US rate, you might earn a positive swap. If it's lower, you'll pay a negative swap. These costs add up on long-term trades, especially in currency markets that may require holding positions longer.

Commission Structures

　　Brokers make money in two main ways: through the spread or through a fixed commission. A "Standard" account usually has no commission, but the cost is included in a wider spread.

　　A "RAW" or "ECN-style" account offers very tight spreads but charges a fixed commission per lot traded (e.g., $5 per 100k round turn). Scalpers and high-volume traders usually prefer the RAW structure, while casual traders may like the simplicity of a standard account.

The Hidden Costs

　　Always check for other potential fees. Some brokers charge inactivity fees if an account isn't used for a certain period (e.g., 90 days).

　　While deposits are usually free, some brokers charge for certain withdrawal methods, like bank wires. A broker's honesty about these extra fees shows their trustworthiness.

Find Your Perfect Match

　　The "best" broker depends on your trading style, experience, and priorities. We've organized our recommendations to help you find the right fit.

For the Scalper

• Priorities: Very low transaction costs, fast execution, and a stable platform like MT4.
• Recommendation: FOREX.com (RAW Account). The combination of thin spreads and a fixed commission works well for high-frequency trading.

For the Position Trader

• Priorities: Low overnight fees, a user-friendly platform with good mobile access, and quality research.
• Recommendation: OANDA. Its fair swap rates, powerful platform, and TradingView integration are ideal for traders holding positions for days or weeks.

For the Beginner

• Priorities: Good educational content, low minimum deposit, practice account, and helpful customer support.
• Recommendation: IG US. Its learning resources, intuitive platform, and top-tier support create a good environment for new traders.

Understanding US Regulation

　　For US citizens, trading forex with a broker not regulated by the CFTC and NFA is too risky. These agencies provide the strongest investor protections worldwide.

　　The CFTC regulates US derivatives markets, including forex. The NFA ensures its members follow high standards of conduct.

　　We strongly recommend that every trader check a broker's status using the NFA's BASIC database before depositing money. This simple check can protect you from fraud and financial loss.

　　With recent increases in retail trading, this regulation has become more important. It ensures market fairness and protects traders from unregulated offshore brokers that offer dangerous high leverage without accountability. US rules include specific requirements like FIFO (First-In, First-Out) and a leverage limit of 50:1 on major currency pairs to reduce risk for retail traders.

Final Recommendations

　　Choosing the right forex broker is the most important first step in trading. In the highly-regulated US market, safety and compliance must come first.

　　For its balance of trust, competitive pricing, and user-friendly platform, OANDA is our top recommendation for the best forex broker in the USA. Traders focused on the lowest spreads will prefer FOREX.com's RAW account, while beginners will benefit most from IG US's supportive environment.

　　The best broker is the one that matches your specific needs. Use this guide to assess your priorities, verify regulation status, and choose a partner you can trust for your trading journey.

Frequently Asked Questions

Is forex trading legal in the USA？

　　Yes, forex trading is legal in the United States. It is highly regulated, though. Brokers must register with the CFTC and be NFA members to legally serve US residents.

What is the minimum deposit for a US forex broker？

　　The minimum deposit varies by broker. Some brokers like OANDA and Interactive Brokers have no official minimum, so you can start with a very small amount. Others, like FOREX.com ($100) and IG US ($250), have low but specific minimums.

Can I use high leverage with a US forex broker？

　　No. NFA regulations limit leverage to 50:1 for major currency pairs to protect retail traders. For minor pairs, the limit is even lower at 20:1. Offshore brokers may offer higher leverage, but they aren't US-regulated and pose significant risks.

Which US forex broker is best for beginners？

　　We recommend IG US as the best forex broker for beginners. Their intuitive trading platform, extensive educational resources, and excellent customer support create an ideal environment for new forex traders.