Online forex trading broker
The global foreign exchange (forex) market is the largest and most actively traded financial market in the world, by far.
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When looking for the "best" forex broker, both beginners and experienced traders generally look for several key features and benefits. Among the most important of these are: the overall trading experience, the breadth and depth of product offerings (currencies, cfds, indexes, commodities, spread betting, cryptocurrencies, etc.), fees (including spreads and commissions), trading platform(s) (web-based, downloadable software, mobile, charting, and third-party platforms), customer support, trading education and research, and trustworthiness. We publish unbiased product reviews, our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.
Best forex brokers
These forex brokers offer the best platforms for all types of traders
We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.
The global foreign exchange (forex) market is the largest and most actively traded financial market in the world, by far. When looking for the "best" forex broker, both beginners and experienced traders generally look for several key features and benefits. Among the most important of these are: the overall trading experience, the breadth and depth of product offerings (currencies, cfds, indexes, commodities, spread betting, cryptocurrencies, etc.), fees (including spreads and commissions), trading platform(s) (web-based, downloadable software, mobile, charting, and third-party platforms), customer support, trading education and research, and trustworthiness.
Through extensive research and a strict adherence to our robust methodology, we have determined the best forex brokers in all of these areas and more, which has resulted in our top rankings below. Our mission has always been to help people make the most informed decisions about how, when, and where to trade and invest. Given recent market volatility and the changes in the online forex brokerage industry, we are more committed than ever to providing our readers with unbiased and expert reviews of the top trading platforms for traders of all levels, for every kind of market.
Learn, practice, and master currency trading online
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Janet yellen’s voice might be softer than her predecessor’s but she carries a big stick and pres5rnnted a pro dollar stance in her first press conference that caught equity markets by surprise and lifted the dollar against all major currencies. The new fed chair dissected. Read more»
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Versusboard FX by forexsolutions.Net reviewed…
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ODL securities inc (USA)
The US business for ODL securities has recently been acquired by FXCM. US residents can open a demo account with FXCM here.Non- US residents can continue below for a review of ODL securitiesodl markets basicsodl securities, which was established in 1994 and has offices in. Read more»
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Trading forex online. Period. Re-launched with information about learning,understanding, and trading with forex tools and software, we've spent an exhaustive amount of time researching and reviewing content to help you become the best trader or broker that you can be.
The current lineup of the site includes forex software reviews in a variety of different categories including:
You'll also find out how to get an education on forex trading with our forex glossary of terms. Here you can answer any of the questions you have about specific terminology that you may find in our learn to trade forex section.
So if you're an market maker, introducing broker, part time trader, talentless hack, or curious student, we hope that you'll find the information that you need to be a better more informed trader here on our site. If you have comments, questions, or concerns, you can always contact us here.
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OFXT is here to help you in your path to becoming a forex trader or broker. Our goal is to help you learn, practice, and master the art of currency trading. It's important to understand currency pairs such as the EUR/USD, USD/CAD, GBP/USD, USD/JPY, or other major currencies, and how the economies of each country impact one another. There is a high amount of risk involved in FX trading, for more information, please see our risk disclosure policy. Choosing a forex brokerage, signal provider, or charting software are difficult decisions, so we've established a set of reviews based on a variety of criteria for evaluating their credibility. Foreign currency trading is different from futures, options, or stock trading, and it's important to understand the terminology. We hope you will continue to learn to trade with us, and if you ever have questions, please drop us a line.
Trade forex, cfds, stocks and metals with honest broker
For newbies, risks are 100 times lower
Highest honest leverage on market
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For experienced market players making their way to forex heights
Perfectly suits those who are just starting on their way to success on forex
Ideal for those who want to calculate their profit precisely
Designed for those who prefer trading at the fastest speed
For those who want to feel the full power of trading with ECN technologies
To grow your confidence, train your trading skills on a demo account.
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Top 7 of best US forex brokers for 2021
Top rated:
Are you searching for the best US forex brokers?
Luckily, our team of professional forex broker reviewers can take care of your every need.
Let alone the best forex broker in USA, our team realizes it is tough to find any broker which offers a trustworthy, and still value for money proposition when you want to trade forex in the USA. Forex brokers accepting US clients may be few and far between, but we have combined years of experience to narrow your selection down to the top five brokers.
These five are among the best forex brokers USA has to offer.
In fact, they are some of the best forex brokers for residents of any country. These brokers will ensure you feel safe, secure, and still have the ability to prosper in your trading career. They have been selected as the best US forex brokers for a variety of reasons.
Among these reasons are the amount of trading support they offer you, they wide range of markets and instruments that are available for trading, and the very competitive pricing and fee structure offered by these top forex brokers.
Table of contents
Is forex trading legal in the USA?
As a forex trader in the US, one of the most important questions you may be asking yourself from the outset surrounds the legality of forex trading in the US. Well, we are pleased to tell you that yes, forex trading is legal in the US. In fact, the US has several top financial regulators providing the best protection to you as a trader. These bodies are FINRA, the SEC, CFTC, and NFA with the latter two being the main regulators when it comes to forex trading and trading in derivatives such as futures. Remember also that cfds trading in the US is not permitted.
How to trade forex in the USA
The process of getting started with a forex broker in the US is typically similar to that of any other country. With any top broker you will usually be asked for the following information:
- Proof of identity. A passport is typically best for this purpose.
- Proof of residence, usually in the form of a bank statement at your current address.
Once these documents are uploaded and verified, a process that takes most forex brokers just a few minutes, you will be free to get started trading forex.
Top 7 forex brokers in the USA listing for 2021
Here’s our list of the best US forex brokers:
1. Forex.Com
When it comes to US forex brokers, forex.Com has to be an immediate consideration for opening your forex trading account in the USA. They are CFTC licensed and NFA regulated (#0339826) and provide a selection of flexible and accessible account types with low spreads starting from 0.2 pips, including their direct market access account. This offers some of the most unbeatable spreads among any of the forex trading brokers USA. They also provide extensive trading options in all of the top forex currency pairs, metals including gold and silver, as well as futures trading. When it comes to forex brokers accepting US clients, forex.Com certainly offers among the most comprehensive range of services to their US-based traders.
The forex.Com minimum deposits starting form $1000 on standard, and commission accounts, and $25,000 on DMA accounts with demo accounts available. There are also a range of other great benefits such as cash rebates and reduced or no fees for active traders.
2. IG markets
With over 40-years in the industry, IG markets is a true pioneer of the industry, and among the most long standing forex brokers accepting US clients. The broker has evolved continually, keeping the requirements of US-based traders as a top priority. These can be traded on MT4, the mainstay trading platform for top US forex brokers and traders from all around the world as well as being both CFTC licensed, and NFA regulated (#0509630). IG markets offers one type of account to all traders and this has a minimum deposit requirement of $250.
Accessibility with IG is also excellent, you can engage with a number of top professional charting packages using your desktop, phone, or other smart device. Beyond the USA, IG markets also featured in our top 10 largest forex brokers australia. This showcases their global appeal to traders. This appeal is further enhanced by a great cost of trading on more than 90 forex pairs with spreads starting at 0.8 pips.
3. Interactive brokers
You will very often find interactive brokers among our lists of top forex brokers. This is also true when it comes to our choice of top US forex brokers. This is thanks to a number of positive aspects which the longstanding broker uses to attract clients around the world. These include an excellent proprietary trading platform which offers some of the most advanced trading tools available on any market, and a widespread list of products which are available at highly competitive rates. These products include currencies, options, metals, and indices within a list which is ever increasing. IB are a FINRA member and regulated by both the CFTC and NFA (#0392970), as well as the SEC (#8-47257).
They have two account types, you can choose the IBKR lite, or IBKR pro both at no minimum deposit though the pro account has a $10 maintenance fee. As mentioned the product range is excellent as is the trading cost with spreads from 0.1 pips on 105 forex pairs. All of these features make IB a top choice particularly for experienced traders.
4. Oanda
Oanda is also making progress toward becoming the best forex broker in the USA. The industry leader is making progressive inroads in the US market, and now offers trading in more than 70 diverse forex currency pairs. This is more than enough for you to trade successfully. Added to this, you can also benefit from the powerful educational and research infrastructure oanda provides. This includes marketpulse, a selection of news, technical analysis, and research resources which are provided by the in-house oanda team. This can combine perfectly with our own online investment guides and educational content. Oanda are also well-regulated by both the CFTC, and NFA (#325821) offering traders two account types.
The standard account type is attractive thanks to the fact it has no minimum deposit, while the premium account requires a $2,000 minimum deposit but has benefits like lower spreads and other costs. An unlimited oanda demo account is also available. The broker also use the much respected MT4 trading platform for trading in all 70 forex pairs and more at a very competitive spread starting from 0 pips. All traders but particularly newer ones, seem to fit well within oanda.
Trade with the no. 1 broker in the US for forex trading*
Why are traders choosing FOREX.Com?
No. 1 FX broker in the US*
We have served US traders for over 18 years.
Trade 80+ FX pairs, and gold & silver
Global opportunities 24/5 with flexible trade sizes.
EUR/USD as low as 0.2
Trade your way with flexible pricing options including spread only, spread + fixed commission, or STP pro.
*based on client assets per the 2019 monthly retail forex obligation reports published by the CFTC
Financial strength you can depend on
Your FOREX.Com account gives you access to our full suite of downloadable, web, and mobile apps.
Get 20 free, easy to install eas and custom indicators when you open a metatrader live or demo account.
* based on active metatrader servers per broker, apr 2019.
Reward yourself with our active trader program
- Save up to 18% with cash rebates as high as $9 per million traded
- Interest paid up to 1.5% on your average daily available margin balance
- Get guidance and priority support from your dedicated market strategist
- No bank fees for wires
- Access to exclusive events and product previews
Open an account in as little as 5 minutes
Tell us about yourself
Fund your account
Start trading
Ready to learn about forex?
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Welcome, we’ll show you how forex works and why you should trade it.
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Let’s create a trading plan that will help you stay on track and meet your goals.
Want to go deep on strategy?
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Not sure where to start?
Take our short quiz and get matched resources that fit your trading style.
Online forex trading broker
- Language support: bengali, chinese, english, hindi, indonesian, malay, portuguese, spanish, thai
- Create trading accounts, modify leverage, enable swap-free options, edit and restore passwords
- Make deposits and withdrawals using the most popular payment options
- View your detailed overall or account operation history, apply convenient filters to it and cancel your previous deposit
- Start trading in a compatible trading platform app
- Top up your demo account
- View contest statistics and access your contest accounts
- Activate bonuses and view statistics on active and completed bonuses
get it on
Forex trading accessibility for everyone
Octafx - one of the best forex brokers on the market, for traders all round the world. Octafx offers access to CFD trading, commodity trading and indices trading with award-winning forex trading conditions. As well as access to the forex market, octafx offers a variety of promotions that can help you:
50% bonus on deposit
Negative balance protection
Why choose forex trading with octafx
Octafx forex broker ensures reliable forex trading conditions to provide traders of all skill levels with an opportunity to earn more. This is possible due to:
- No commissions on deposits and withdrawals
- No swaps
- No slippage
- No delays
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All over the world, forex trading is now considered as a lucrative online business, and kenya has not been left behind. It’s because of this reason that the kenyan market has experienced an influx of forex brokers – both regulated and unregulated. The only downside is that lots of merchants are still unable to find the best broker to handle their trading needs. So to help you out, we’re going to give you some insightful tips on how to choose the best forex broker. Read on!
1. Regulation
Choosing a regulated broker should always be at the top of your forex trading agenda. Regulation is very important to help secure your investment against unscrupulous companies operating in this financial market. In kenya, the CMA (capital market authority) is the main financial watchdog established by the ministry of finance in 1989. But because the kenyan market is still relatively small, it can be difficult to find lots of CMA regulated brokerages.
However, the best forex brokers kenya are licensed and regulated by some of the world’s leading regulatory bodies such as the australian ASIC, cyprus cysec, and the british FCA. Therefore, if you open an account with a regulated FX broker, chances are that your investments are safe.
2. Trading fees and commission
Whether you’re a seasoned or a newbie trader, you need to keenly inspect your broker’s fee structure. After all, this is what any serious business person should do. The general rule is to always go for a broker with the lowest fees as possible. Some of the trading fees that you should look out for include:
- Swaps: this is the fee you’re supposed to pay to keep your contract open overnight.
- Spreads: this is the difference between buying and selling price in points (pips). You should avoid anything over 3 pips when trading liquid EUR/USD. Also, keep in mind that spreads are of 2 types – fixed or variable, depending on the account type.
- Other fees such as deposit, withdrawal, and inactivity fees.
Keep in mind however that more expensive FX brokers offer higher service levels including market analysis and research, customer service and support, latest platforms, trading tools etc. Therefore, it’s safe to say that you’ll always get what you pay for in this regard.
3. Currency pairs on offer
While you might find a huge number of world currencies available for FX trading, few of them can trade with the highest liquidity. To help you out, the major currency pairs that you should look for include the EUR/USD, USD/CHF, GBP/USD, and USD/JPY. In conclusion, your preferred FX broker might offer you a wide collection of currency pairs, but the aforementioned ones are sure to receive a lot of attention in the market.
4. Trading platform
The trading platform is definitely your link to the FX market. And as a result, you should make sure that the platform is easy-to-use, visually appealing, and updated. Don’t also forget to look for a platform that offers you lots of trading tools and educational materials such as webinars, articles, videos, seminars, etc. Additionally, a good trading platform should have clearly labeled buy and sell buttons, with some even incorporating a “panic” button to help you close all open positions.
Most reputable brokers also offer free forex demo accounts to help their clients sharpen their FX trading skills before opening a live account. This way, the chances of losing most of your investments are greatly reduced.
Forex brokers that offer demo account for kenya traders
broker | info | bonus | open account |
---|---|---|---|
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec | 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. | Visit broker | |
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC | $100 no-deposit bonus, 100% deposit bonus | visit broker | |
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize | “50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program” | visit broker | |
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN | 35% of the account deposit | visit broker | |
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA | visit broker | ||
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202 | visit broker | ||
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK | visit broker | ||
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC | visit broker | ||
min deposit: $10 spread: leverage: regulation: cysec | - | visit broker | |
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec | visit broker |
5. Customer service
Brokers may vary widely when it comes to the type of services they offer their clients. You’ll find some of them presenting themselves as “full-service” brokers who offer access to different markets, services, and trading platforms. On the other hand, some might come in the form of discount brokers who offer more basic service. All in all, you’ll have to consider the type of customer support you’ll get at any time with your broker. It’s also important that you can speak to a live person in case of a problem, instead of the time consuming and frustrating auto attendant.
6. Dealing desk vs. No dealing desk
This is also another crucial factor to consider. In fact, you might find some brokers offering both of these services. First forward, dealing desk brokers make their money via spreads as well as providing liquidity to their merchants.
Dealing desk brokers typically create a ready market for their clients. This means that they are often on the other side of their client’s trade. The main benefit of dealing with a dealing desk broker is that you’ll get more predictable and fixed spreads. But the discretionary nature of filling orders might restrict your opportunity for gains.
On the other side, no dealing desk brokers don’t pass their client’s orders via a dealing desk. In simple terms, they simply act as a link between two parties. With this kind of traders, you’ll actually get access to the real market prices. On the flipside, you’ll get exposed to thin liquidity and variable spreads. So you’ll have to choose wisely between these two types of brokers.
If you’re a novice trader, it’s definitely a wise idea to review the vast amount of margin offered by rival brokerage firms. A margin is a form of loan that a broker can offer to allow you to leverage your initial capital. So if you trade smart, you can multiply the profit amount you get from any given trade.
However, the amount of margin you’ll get will most likely depend on the maximum amount set by the broker’s financial regulator. Merchants may find brokerage firms offering leverage ratio up to 50:1, 400:1, with some going as high as 1000:1. Just be careful not to be tempted by the huge amount of leverage as this can multiply your losses, and eventually put you out of the game.
8. Deposits and withdrawals
It’s obvious that you’ll need to withdraw your earnings from time to time. And because of this reason, you should settle for a broker who allows you to make deposits and withdrawals in a seamless manner. Moving on, I would advise you to choose a broker who can offer 3-5 business days to make withdrawals. Also, your broker should be able to support a wide array of deposit and withdrawal platforms. I’m sure you wouldn’t want to get associated with a broker who keeps giving you excuses any time you want your money transferred, do you?
It’s obvious that you can make some extra cash via online forex trading, but you can only do this if you pick the right broker. If you keenly follow the aforementioned tips, you can be sure to get the perfect forex broker to help you succeed. Just make sure that your preferred broker is regulated before looking at the other crucial factors.
Trade online with a trusted broker
FOREX currencies – stocks & cfds – crypto currencies
Why traders choose OPAL broker
Trade in forex & CFD global markets with a reliable and trusted online ECN/STP trading broker
Stable, high-speed execution in the range of milliseconds. True ECN / STP trading, low latency with no rejections.
Raw ECN/STP spreads as low as 0.3 pips.
When trading with us, all clients funds are held in segregated accounts in AA graded banks using the highest level of protection.
Instant access to the bank market with no dealing interference or rejections while trading.
OPAL BROKERS
OPAL brokers is an investment company providing financial services and online trading at the global scale.
Reliable percentage
Active agent
Country support
Powerful trading with metatrader5
It is a trading platform that allows you to perform trading operations and technical analysis on forex market currency pairs. Enter the global currency market by downloading the metatrader app and start earning money right now.
Available on:
Deposits and withdrawals
Ability to deposit and withdraw all valid currencies to the company’s private currency accounts through banks around the world.
Possibility to pay and receive cash in dollars and other valid currencies of the world in tehran, dubai, istanbul, herat, kabul, tbilisi, ankara, izmir, denizli, kayseri and cyprus.
Start trading in 3 steps
Fill in your details to complete the signup process in less than 2 minutes
Choose from our range of secure deposit methods to fund your account
Place your orders and enjoy trading on any FX and CFD instruments
OPAL BROKERS
FXOPAL LTD. Has its headquarters at number 305, griffith corporate centre, kingstown, st. Vincent and the grenadines. FXOPAL LIMITED LIABILITY INTERNATIONAL BUSINESS COMPANY is registered under the official registration ID of "FXOPAL LTD. BC 26092 2020"
FXOPAL currently has active front, mid, and back offices in turkey, oman, and afghanistan.
RISK DISCLAIMER
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Best US forex brokers 2021
The foreign exchange market is more active than any other financial market in the world, with over $5 trillion swapping hands every day. This guide is focused on assisting US traders in finding the best forex broker for their style of trading.
We break down the best us forex brokers for commissions & spreads, trading platforms, execution, and overall quality. All of the top forex brokers we cover are regulated and licensed in the US by the national futures association (NFA) and meet a strict set of criteria, ensuring protection from forex scams.
For a more in-depth comparison of top US brokers, or if you are trading outside of the US, visit our sister site forexbrokers.Com. Our annual FX broker review covers the top brokers for 2020, with over 50,000 words of research and 5,000+ data points spanning 30 firms.
Best US forex brokers 2021
- IG - best overall
- TD ameritrade - currency trading with thinkorswim
- Forex.Com - best for ease of use
- Interactive brokers - best for professionals
As an early pioneer in offering contracts for difference (cfds) and spread betting, IG was founded in 1974 and has grown to be a global leader in the online trading industry. IG is a london-based public company listed on the london stock exchange’s FTSE 250 (LON: IGG). Read full review
- Total forex pairs offered: 91
- Likes: comprehensive research tools and real-time exchange data; broad range of markets, currency pairs, and multi asset cfds (including cryptocurrencies); licensed in major regulatory jurisdictions; competitive commission-based pricing and spreads on forex.
- Dislikes: web platform trading windows must be resized manually to keep the layout organized; forex direct only available to professional traders within EU.
- Bottom line: forex and CFD traders looking to trade a large number of instruments across multiple asset classes, including exchange-traded securities on international exchanges, will find IG offers an extensive range of tradable products on its platforms.
- Visit site
TD ameritrade's desktop trading platform, thinkorswim, offers an impressive combination of both design and functionality. The platform has virtually anything you could want, including live CNBC tv, trade alerts, real-time scanning, and practically every technical indicator under the sun for charting. Read full review
- Total forex pairs offered: 75
- Likes: powerful desktop charting that syncs with mobile; wide array of premium research and trading tools through thinkorswim platform; futures and options trading on forex and bitcoin futures.
- Dislikes: forex only available to US residents; no web-based platform offered for forex; platform complexity may deter beginners.
- Bottom line: for US-based investors and traders, TD ameritrade’s thinkorswim platform is a sophisticated multi-asset desktop experience optimized for securities trading, including off-exchange spot forex and exchange-traded options and futures (including bitcoin).
- Visit site
Forex.Com (gain capital) is known for providing forex traders a well-rounded offering. Like TD ameritrade and interactive brokers, it is also publicly traded and offers fx traders a large variety of trading tools. Beyond offering its own propertiary trading platform, forex.Com also offers metatrader4 (MT4) to customers, making it an ideal choice for investors of all experience levels. Read full review
- Total forex pairs offered: 84
- Likes: licensed in highly regulated jurisdictions; advanced charting capabilities in both desktop and web platforms; platforms feature numerous channels of research content and trading ideas; offers cryptocurrency cfds in the UK, and bitcoin futures in the US.
- Dislikes: MT5 not yet rolled out; ceased business of regulated activities in hong kong.
- Bottom line: FOREX.Com has plenty of options for forex and CFD traders across its regulated offerings globally. With full-feature platforms, diverse trading tools, and comprehensive research, FOREX.Com caters to traders of all experience levels.
- Visit site
Professional currency traders should consider interactive brokers. Interactive brokers is well-known in the US stock and options industry as an active trading broker. IMPORTANT: to trade forex with interactive brokers in the united states, you must be classified as an ECP, "an eligible contract participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)." read full review
- Total forex pairs offered:115
- Likes: regulated in major jurisdictions and publicly traded; extensive range of global markets and asset classes; bitcoin futures trading supported; competitive fees and discounts for high-volume traders.
- Dislikes: retail spot forex only offered to non-U.S. Clients; desktop platform too complex for inexperienced traders; web platform lacks forex charts; monthly minimum activity charges.
- Bottom line: professional traders and highly experienced investors looking for a complete multi-asset forex broker will find interactive brokers offers a comprehensive platform with competitive fees across multiple global financial markets.
- Visit site
Compare US forex brokers at forexbrokers.Com
Compare IG vs TD ameritrade vs forex.Com vs interactive brokers side by side and view an industry-leading comparison based on over 100 different data points.
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So, let's see, what we have: investopedia ranks the best online brokers to use for trading forex and cfds. At online forex trading broker
Contents of the article
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