5 best CFTC regulated forex broker websites that accept US clients
Before any Forex broker can accept US forex traders as clients, they must become registered as a Retail Foreign Exchange Dealer (RFED) by the financial regulatory body, the Commodity Futures Trading Commission (CFTC).
They must also be regulated by the National Futures Association (NFA) as a Futures Commission Merchant (FCM).
1. Oanda – Best overall Forex broker in the USA
Overview
OANDA is a well-known and respected name in the financial industry. It has a good regulatory record, and it supports third-party tools, which adds value to the overall service.
Oanda provides varying sign-up bonuses and promotions, it is worth checking their website for available promotions.
Pros and Cons
Pros
Cons
User-friendly trading platform
High withdrawal fees
Low trading fees
Low minimum deposit
Features
Feature
Information
Regulation
FCA, NFA, CFTC
Minimum deposit from
None
Average spread from
1.6 pips
Commissions from
$0.01 USD per trade
Deposit/Withdrawal Fees
$1000 Sign Up Bonus
Maximum Leverage
1:50
Bonuses
Various promotions
Customer Support
24/5
2. IG – Best USA Regulated Forex Broker with super low spreads
Overview
IG is a global leader in online trading and now recognized as the world’s top CFD provider thanks to its extensive product catalogue, affordable fees, long-standing business operations, and strong industry reputation.
Pros and Cons
Pros
Cons
Excellent customer support
Demo account is only available to use for 30 days
Advanced suite of technical indicators
Secure and well-regulated trading environment
Features
Feature
Information
Regulation
FCA, FSCA, CFTC, NFA
Minimum deposit from
No minimum deposit
Average spread from
0.8 pips
Commissions from
£3.00 – £8.00 per trade for all types of assets
Deposit/Withdrawal Fees
None
Maximum Leverage
1:50
Bonuses
None offered
Customer Support
24/6
3. Forex.com– Best for Beginners US Traders
Overview
Beginner traders in the United States can take advantage of Forex.com’s adaptive, configurable, and user-friendly trading platform.
New traders will receive a sign-up bonus of up to 20% of their initial deposit, with the bonus able to reach a maximum of $5000.
Pros and Cons
Pros
Cons
Low trading fees
High stock CFDs
Free deposit and withdrawal
Features
Feature
Information
Regulation
KNF, FCA, CySEC, IFSC, CFTC, NFA
Minimum deposit from
$100
Average spread from
1 pip on commission-free accounts/0.1 pip on STP accounts
Commissions from
0.08% of trade value with $8 minimum
Deposit/Withdrawal Fees
$30 on withdrawals of less than $50
Maximum Leverage
1:50
Bonuses
Sign-up bonus of 20% on $100 USD
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4. TD Ameritrade– Locally operated USA Forex broker
Overview
With TD Ameritrade, commissions are zero, instructional programming is top-notch, and the broker has a user-friendly mobile app that can accommodate the demands of a novice investor as well as an accomplished day trader who wants to open positions in many asset classes.
Pros and Cons
Pros
Cons
Comprehensive selection of trading instruments
Long withdrawal times
Wide variety of trading platforms
Features
Feature
Information
Regulation
SEC, FINRA, CFTC, NFA
Minimum deposit from
None
Average spread from
1.2 pips
Commissions from
$0.65 per contract for options
Deposit/Withdrawal Fees
Yes
Maximum Leverage
15% margin
Bonuses
None currently
Customer Support
24/5
5. ATC Brokers – Top US Forex Broker with premium client support
Overview
ATC Brokers provides traders with the well-known MT4 trading platform, as well as more than a dozen currency pairs and CFDs.
ATC Broker’s MT4 Pro plugin is custom-built to distinguish its service from other MT4 providers, and its customer service is superior to that offered by other brokers.
Pros and Cons
Pros
Cons
MT4 Pro provides advanced trading features
No Islamic Accounts available
Tight spreads available
Features
Feature
Information
Regulation
CFTC, NFA
Minimum deposit from
$2000
Average spread from
0.03
Commissions from
$10 per standard contract
Deposit/Withdrawal Fees
Yes
Maximum Leverage
1:50
Bonuses
None currently
Customer Support
24/5
Frequently Asked Questions
1. How do I verify a broker is regulated by the CFTC?
You can go to the CFTC’s official website to check for a broker’s official regulation
2. Is forex trading legal in the USA?
Yes, Forex trading is legal in the USA under the regulation of the CFTC and the NFA
3. Does the National Futures Association (NFA) regulate the USA forex trading industry?
Yes, the NFA regulates all retail foreign exchange dealers in the USA
