Forex brokers in United States
3 of the 94 brokers we rate hold a licence from the CFTC and the National Futures Association, and 9 in total will open an account for someone in the United States. The gap between those two numbers is the most useful thing on this page.
How this page is builtWe hold each broker's own list of the countries it will not serve, so "accepts you" means "does not exclude you" - not a promise your application will be approved. Local regulation is read from the licences each broker publishes. Both lists are in rating order, and brokers holding no licence at all are left off entirely.
Regulated in United States
These 3 brokers hold a licence from the CFTC and the National Futures Association. That is a different proposition from a broker that merely accepts your application: a regulator in your own country supervises the entity holding your money, and you have somewhere local to complain when it goes wrong.
Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
OANDACFTC/NFAFCA+46.4/10Find out more OANDA
eToroFCACySEC+56.3/10Find out more eToro
What that licence actually protects
US retail forex is jointly overseen by the CFTC and NFA, and CFDs cannot legally be offered to retail clients at all - which is why almost every broker on our table excludes American residents.
Retail leverage is capped at 1:50 on major currency pairs. Brokers advertising far more are offering it through entities outside United States, and which entity takes your account is decided by where you live rather than by which you would prefer.
Securities accounts carry SIPC cover up to $500,000; retail forex accounts do not have an equivalent scheme.
None of it protects you from losing money on your own trades. It protects you from the firm failing, misusing client money or refusing to deal with a complaint - the risks you cannot manage yourself.
| Broker | Regulators | Founded | Client money segregated | Negative balance protection | Compensation scheme |
|---|---|---|---|---|---|
| Interactive Brokers | SFC (Hong Kong) | 1978 | Yes | Yes | SIPC up to $500,000 including $250,000 cash limit for eligible US securities accounts; jurisdiction-specific schemes elsewhere |
| OANDA | CFTC/NFAFCAASIC+3 | 1996 | Yes | Yes | Jurisdiction-dependent; eligible UK clients may receive FSCS protection |
| eToro | FCACySECASIC+4 | 2007 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients; SIPC up to $500,000 including $250,000 cash for eligible US securities clients |
Every broker that accepts clients in United States
9 brokers, in rating order. The 3 with a local licence are included here too, so this is the whole picture rather than the remainder.
ADS SecuritiesCMA (UAE)7.4/10Get started ADS SecuritiesFind out more ADS Securities
QuestradeCIRO7.3/10Get started QuestradeFind out more Questrade
SpreadexFCA7.1/10Get started SpreadexFind out more Spreadex
FinecoBank of ItalyCONSOB+17.1/10Get started FinecoFind out more Fineco
Focus MarketsASICFSC (Mauritius)6.6/10Get started Focus MarketsFind out more Focus Markets- Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
- OANDACFTC/NFAFCA+46.4/10Find out more OANDA
- eToroFCACySEC+56.3/10Find out more eToro
Trading 212FCABaFin+35.9/10Find out more Trading 212
Trading from United States
It is better protected, which is not quite the same thing. US retail forex is jointly overseen by the CFTC and NFA, and CFDs cannot legally be offered to retail clients at all - which is why almost every broker on our table excludes American residents.
Securities accounts carry SIPC cover up to $500,000; retail forex accounts do not have an equivalent scheme.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
9 of the 94 brokers we rate do not list the United States among the countries they restrict, and 3 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the CFTC and the National Futures Association, retail leverage is capped at 1:50 on major currency pairs. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside United States, and which entity takes your account is decided by where you live rather than by which you would prefer.
Our records do not show local payment rails for brokers accepting clients in United States, so expect card payments or an international bank transfer.
That matters for both cost and speed, and it matters in both directions - an international wire out is as slow as one in.
It is better protected, which is not quite the same thing. US retail forex is jointly overseen by the CFTC and NFA, and CFDs cannot legally be offered to retail clients at all - which is why almost every broker on our table excludes American residents.
Securities accounts carry SIPC cover up to $500,000; retail forex accounts do not have an equivalent scheme.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
9 of the 94 brokers we rate do not list the United States among the countries they restrict, and 3 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the CFTC and the National Futures Association, retail leverage is capped at 1:50 on major currency pairs. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside United States, and which entity takes your account is decided by where you live rather than by which you would prefer.
Our records do not show local payment rails for brokers accepting clients in United States, so expect card payments or an international bank transfer.
That matters for both cost and speed, and it matters in both directions - an international wire out is as slow as one in.