This means you can trade on 11 forex pairs, commodities like gold and oil, selected indices, and 19 cryptocurrencies. FOREX.com provides a multi-asset experience, allowing you to trade over 2,500+ markets. These include spot forex pairs, as well as stocks or indices, commodities, and crypto futures. I compared all the forex brokers regulated by the USA’s two financial governing bodies – the CFTC and NFA. Trading conditions and fees primarily drove my rankings, followed by platform features and ease of trading. The best way to test the fees for yourself is to use a demo trading account or open a live account with the minimum deposit first.

However, for the over 1 million traders that utilize the platform, there is an impressive array of 12,000 available instruments, including 300 Forex pairs. In addition, traders can also trade indices, stocks, ETFs, commodities, treasuries, and crypto. CMC Markets has mastered the art of combining third-party and superior proprietary platforms to deliver a powerful mix of features. These include intuitive navigation, robust portfolio and risk management capabilities, deep research, easy-to-digest education, and complex trading tools to support investors and traders of all levels. Based in Dublin, Ireland, and founded in 2006, AvaTrade serves 400,000 registered global customers executing more than two million trades a month.

Saxo: Best for Range of Offerings

A regulated broker will have met specific operating standards imposed by their local regulatory body, ensuring a certain level of protection and transparency for clients. Look for compliance with agencies such as Australia’s ASIC, the Eurozone’s ESMA, the UK’s FCA, and the USA’s CFTC and SEC, among others. These regulatory bodies enforce rigorous standards and provide a framework within which brokers must operate, including the segregation of client funds and regular financial filings.

What Do I Look For To Find The Best Broker In The US?

Forex traders establish positions with the hopes of benefiting from this price action, often using leverage to increase potential profits. Privately owned and headquartered in Copenhagen, Saxo was established in 1992. Saxo operates as a bank, but focuses on providing trading access and platforms to traders, rather than traditional banking and lending.

tastyworks: Best for U.S. Traders

In some ways, spread with eToro cna be considered cheap since you do not need to pay extra for follow and copy other traders which most such tools do require. With an average market order speed of 96ms, FP Markets is the 4th fastest MT4 broker overall based on our testing. Anything below 100ms is fast, so this means executing live market orders will often result in less slippage than other MT4 brokers, lowering your trading costs overall using MetaTrader 4. Where we found Eightcap stands out when testing its platforms is in the trading tools it offer.

• These three countries account for 50% of the world’s total forex trading volume.
• The leverage amount offered by a broker depends on your categorization as a client with them (retail or professional) and which financial regulator the broker falls under.
• MetaTrader 4 (MT4) is widely regarded as the top choice due to its user-friendly interface, advanced charting tools, and automated trading capabilities.
• Each has different execution methods and trading conditions, which can affect transaction speeds and spreads.
• He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

FxPro: Best for order fill rate and execution speeds

API integrations are available with third-party applications for more experienced traders who want access to specialized analytics like backtesting or creating algorithmic trading strategies. Although there is an added fee for this feature, traders can set up guaranteed stop-loss orders, ensuring they exit positions at predetermined levels, regardless of market volatility. The platform also provides negative balance protection, ensuring that clients can’t lose more than their initial investment—an essential feature for those dealing with leveraged instruments.

There are over 50 indicators available in the mobile app covering all the most well-known ones, such as Bollinger Bands and MACD, and other newer ones, such as the Stochastic Relative Strength Index. While there are no drawing tools in the app, it still provides a lot of features not found in other forex brokers’ trading apps and is well worth trying out. While there is a wide range of short educational articles covering different topics of trading the financial markets, most beginner traders may find more value from the regular live webinar sessions. These webinars are hosted by different speakers and cover live trading sessions, news trading sessions, forex basic lessons, practical workshops for beginners, and much more. In my experience, one of the best tools a beginner trader can use is a demo trading account. This enables you to trade in a risk-free environment and is an excellent way to gain experience in using a trading platform and become more comfortable with a trading strategy.

• Not only is eToro the best social trading broker out there, but it also has the largest social trading network and community in the industry.
• A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects.
• Overall using our benchmark pairs such including EUR/USD, GBP/USD, AUD/JPY, the brokers has an overall overage of 1.06 pips.
• There are 6 steps US traders should follow to ensure they pick the right forex broker.

Based on my tests, OANDA offers the lowest spreads for forex brokers in the US. In our independent analysis, OANDA averaged 1.12 pips across the major currency pairs for its Standard account, beating the industry average by around 26%. Trading.com also offers competitive spreads on its T1 account, which average 1.20 pips with no commissions, as well as a solid range of more than 70 forex pairs.

On the downside, traders using the XM Zero account will face commissions on trades. XM continually offers introduction promos – a $30 Trading Bonus for new clients without requiring an initial deposit, a 50% Deposit Bonus up to $500 for depositing clients. It is worth noting that these promotions are available only to international clients under the IFSC regulation, as ESMA regulations may restrict certain promotional offers. All in all, the combination of features, low-cost trading, regulatory compliance, and reliable support makes Pepperstone a leading broker in the Forex and CFD markets.

As IC Markets is geared to high-frequency, algorithmic currency traders, it offers a low-latency fiber optic connection to the Equinix NY4 server. This server provides execution speeds of less than 40ms and zero requotes on price fills, making it a top choice for serious forex traders. With access to high leverage, multiple trading platforms, and a range of high-quality research tools, Exness is the best overall forex broker to consider this year.

During our live fee test, I found the spread for EUR/USD during the London and New York trading session averaged 0.9 pips. This is better than the industry average of 1.0 pips for a commission-free trading account. Beginning investors should educate themselves on the wealth of research and educational resources available through trading platforms forex trader best and sites such as Investopedia.

The platform’s intuitive design makes it easy for newcomers to navigate, while the availability of demo accounts allows beginners to practice and gain confidence without financial risk. If that wasn’t enough of a reason why beginner traders should consider AvaTrader, the company also really excels in offering a rich educational environment. IG is a London-based broker operating as a trusted provider of trading services since 1974.