Forex brokers allow you to speculate on the future value of currency pairs like USD/GBP or EUR/JPY.

You’ll want to choose a forex broker that offers plenty of tradable markets with low fees – alongside access to leverage, charting tools, and research materials.

This guide compares the 10 best forex brokers in the US and explains how to get started with a currency trading account in under five minutes.

The Best Forex Brokers for 2024 Ranked

The 10 best forex brokers in the market right now are those listed below:

  1. – Leading forex platform with 0% commissions.
  2. XTB – Trade forex and over 5,600 global markets.
  3. GO Markets – Respected forex broker with spreads from 0.0 pips.
  4. AvaTrade – Heavily-regulated FX broker with MT4/MT5 support.
  5. Trade Nation – Popular forex broker with EUR/USD spreads from 0.0 pips.
  6. Interactive Brokers – Top forex broker for tight spreads and deep liquidity.
  7. TD Ameritrade – Top-rated stock broker for seasoned traders.
  8. – Specialist forex broker for US traders.
  9. E*TRADE – Good forex broker for currency futures.

We review the above forex brokers in great detail in the following sections. This will help you choose the best forex broker in the USA for your skillset and trading goals.

Best Forex Trading Platforms Reviewed 

There are dozens of forex brokers that allow US clients to buy and sell currency pairs with the best MT4 brokers offering full access to the MetaTrader suite. 

No two forex brokers are the same though, so you’ll want to do some research surrounding supported markets, commissions, account types, minimum deposits, trading tools, and other important factors.

The overall 10 best forex brokers in the market right for are discussed below:

1. – Leading Forex Platform with 0% Commissions logo Ever wondered what the best day trading platform in the UK is? Another of the best forex brokers to consider partnering with is is one of the best scalping brokers and low margin rate brokers that offers a wide range of markets, including currencies. Although US-based traders cannot create a account due to the regulation on CFD trading, clients in other countries will be able to trade 138 different FX pairs, including a selection of minors and exotics.

Since these currencies are traded via CFDs, builds all fees into the spread. Spreads can vary depending on the pair, although they are as low as 0.6 pips for EUR/USD during peak trading hours. charges no commissions when opening an FX trade and no deposit, withdrawal, or inactivity fees. has over 100 different currency pairs to choose from including the most volatile forex pairs on the market. also offers real stocks as well as CFD stocks on a 0% commission basis. For those trying to decide between stock trading and forex trading we have a useful article that explores the ins and outs of both financial markets. forex

Users can make deposits in five different base currencies via credit/debit card, bank transfer, Apple Pay, and PayPal. Did you know that is also one of the best Western Union forex brokers? The minimum deposit threshold is only $20, and the account opening process is entirely digital. Finally, those who wish to trade FX using can do so via the web platform or MT4 – ensuring an option for all experience levels.

In terms of regulations and security, is one of the best ASIC regulated forex brokers on the market and also has licensing from CySEC, the FCA, the FSA, and NBRB.

Minimum Deposit $20
Forex Pairs 138
Trading Commission 0% commissions
Spread From 0.6 pips
Platform Web-based platform + mobile app + MT4
Max Leverage 30:1
Account Types Offered Standard lots
Islamic Accounts? No
Swap Rate 3% +/- LIBOR
Broker Type CFD



  • Doesn’t accept US-based clients

Your capital is at risk. 80.61% of retail investor accounts lose money when trading CFDs with this provider.

2. XTB  – Best Forex Broker Trading Platform

XTB is a popular forex broker with one of the best brokerage-specific trading platforms we’ve seen. XTB offers customers access to its xStation 5 trading software for mobile and web in lieu of MetaTrader. xStation 5 is more straightforward to use and offers the same advanced charting and auto-trading capabilities as MetaTrader. The mobile app is especially user-friendly, which is a plus for forex traders who frequently check the market on the go.

XTB offers trading on 48 forex pairs with spreads as low as 0.1 pips. There’s no minimum deposit required to open a new trading account and traders can access leverage up to 500:1 for major forex pairs.

xtb homepage

This forex broker offers a market news feed and economic calendar, but not much else in terms of supplementary analysis tools. Traders can test out XTB with a free demo account with no deposit required.

Minimum Deposit None
Forex Pairs 48
Trading Commission None
Spread From 0.1 pips
Platform Web-based platform + mobile app
Max Leverage 500:1
Account Types Offered Micro lots
Islamic Accounts? Yes
Swap Rate Varies depending on the pair
Broker Type CFD


  • Spreads from 0.1 pips
  • Offers xStation 5 trading platform
  • Leverage up to 500:1
  • Free demo account


  • No professional market analysis

Your capital is at risk. 76% of retail investor accounts lose money when trading CFDs with this provider.

3. GO Markets – Respected Forex Broker with Spreads from 0.0 Pips

GO Markets logo Another of the best forex brokers to consider is GO Markets. GO Markets is an Australia-based CFD broker that offers over 50 FX pairs to trade. The platform has been in operation for over 16 years and boasts regulation from ASIC and CySEC – ensuring a solid level of credibility and safety.

GO Markets offers two account types – a Standard account and a GO Plus+ account. The former is well-suited to casual traders and allows trades to be opened with no commissions. The latter is targeted towards active traders and does charge a €2 commission per transaction – yet spreads can be as low as 0.0 pips.

GO Markets broker review

Moreover, GO Markets offers leverage of up to 500:1 in certain jurisdictions. Regarding the trading experience, GO Markets caters to all users by providing access to the markets via a browser-based platform, dedicated mobile app, or even MetaTrader 4. Interestingly, GO Markets also offers ‘MT4 Genesis’, which adds a full suite of valuable tools to the MetaTrader client.

Due to GO Trader’s exceptional features, the platform has won numerous industry awards – including the ‘Best Forex Fintech Broker’ at the Global Forex Awards in 2022. Finally, Go Markets even has a fully-fledged ‘Education Hub’, complete with free articles, podcasts, and webinars designed to smooth the trading process.

Minimum Deposit $99
Forex Pairs 50+
Trading Commission 0% commissions on Standard account; €2 per trade on GO Plus+ account
Spread From 0.0 pips on the GO Plus+ account
Platform Web trader + mobile app + MT4
Max Leverage 500:1
Account Types Offered Standard lots + Micro lots
Islamic Accounts? No
Swap Rate Between 0.3% and 2.5%
Broker Type CFD


  • Offers various account types
  • Over 50 FX pairs to trade
  • Spreads as low as 0.0 pips on the GO Plus+ account
  • Regulated by ASIC and CySEC
  • Leverage of up to 500:1


  • A limited selection of alternative asset classes

 64% of retail investor accounts lose money when trading CFDs with this provider.

4. AvaTrade – Heavily-Regulated FX Broker with MT4/MT5 Support

Avatrade logoAvaTrade is a trading platform launched in 2006 that has made a name for itself due to its low-fee FX trading services. It also offers one of the best forex VPS on the market. The platform is regulated by several leading bodies, including the Central Bank of Ireland, ASIC, FSA, and the FSCA. AvaTrade offers 55 currency pairs to trade, with clients able to open positions on the web-trader app or MT4/MT5.

As AvaTrade’s pairs are offered through CFDs, the platform charges no commissions when opening or closing a trade. Spreads also tend to be relatively tight, reaching as low as 0.9 pips for highly-liquid pairs like EUR/USD. AvaTrade even offers a free demo account for beginner traders and a selection of FX-based Vanilla Options. Additionally, AvaTrade is also considered to be one of the best PAMM account forex brokers of 2024.

AvaTrade forex

Although AvaTrade’s minimum deposit threshold is slightly higher, set at $100, account funding is entirely free to complete, with six base currencies supported. Withdrawals are also free to facilitate and can take as little as three business days to arrive. Finally, AvaTrade also offers a wide array of educational materials, including tutorial videos, articles, and webinars.

Minimum Deposit $100
Forex Pairs 55
Trading Commission 0% commissions
Spread From 0.9 pips
Platform Web trader + mobile app + MT4 + MT5
Max Leverage 30:1
Account Types Offered Standard lots
Islamic Accounts? Yes
Swap Rate Between 0.4% and 2.8%
Broker Type CFD (Market maker)


  • No commissions on FX trades
  • Regulated in numerous jurisdictions
  • Supports MT4 and MT5
  • Free demo account offered


  • Minimum spread is relatively high

 71% of retail investor accounts lose money when trading CFDs with this provider.

trade nation logo Trade Nation is a popular CFD broker designed for beginners, scalpers, day traders as well as hands-off traders. That’s because you get one of the lowest spreads, starting from 0.0 pips on EUR/USD, it has high leverage of up to 500:1 and there’s no minimum deposit to open an account. This is incredibly useful if you want to test the platform and see whether you like it or not.

Hands-off traders get to use the TN TradeCopier platform where you can copy trades from popular traders. For those that want to do the trading themselves, they get to choose between MT4 and TN Trader, two powerful trading platforms for beginners and experts. Moreover, you can automate your trades on the MT4 platform via Expert Advisors.

TradeNation broker

Trade Nation is a regulated CFD platform in multiple countries, including the UK, Australia and South Africa, meaning your funds are safe. Moreover, Trade Nation employs negative balance protection, which prevents your account from going below zero during a black swan event. All this makes Trade Nation one of the best forex brokers in the industry.

Minimum Deposit None
Forex Pairs 28
Trading Commission Spread only
Spread From 0.0 pips on EUR/USD
Platform MT4, TN Trader, TN TradeCopier
Max Leverage 500:1
Account Types Offered One account type
Islamic Accounts? No
Swap Rate Depends on the instrument
Broker Type CFD


  • Low FX spreads
  • Regulated in numerous jurisdictions
  • Multiple trading platforms
  • Copy trading


  • Limited number of currency pairs

86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

6. Interactive Brokers – Top Forex Broker for Tight Spreads and Deep Liquidity

interactive brokers review

Interactive Brokers is perhaps known for its highly extensive library of stocks, ETFs, and mutual funds. However, this top-rated platform also offers one of the best places to trade forex in the US. In opening an account here, you will have access to over 100+ forex pairs.

This includes all major and minor pairs, and dozens of exotic currencies. Due to the size of Interactive Brokers and the markets it has access to, forex traders enjoy deep liquidity levels here. Moreover, you will also find that Interactive Brokers offers very competitive fees. Put simply, you will pay a commission of between 0.08 and 0.20 BPS (basis points).

interactive brokers review

There are no additional spreads or markups added to the fees that you see when setting up an order, Another plus point of using Interactive Brokers is that you will have access to a highly advanced platform – FXTrader. This offers a wealth of useful features – such as real-time streaming quotes, custom order types, up and down indicators, and risk-management tools.

Minimum Deposit $0
Forex Pairs 100+
Trading Commission From 0.08 BPS
Spread No hidden spreads
Platform FXTrader web-based platform
Max Leverage 50:1
Account Types Offered Standard lots
Islamic Accounts? No
Swap Rate Average 1%
Broker Type ECN and STP execution offered


  • Highly advanced trading platform
  • 100+ pairs
  • Deep liquidity


  • Perhaps not suitable for beginners
  • Pricing structure can appear confusing

7. TD Ameritrade – Buy and Sell Forex Pairs at 0% Commission 

td ameritrade review

If you’re looking for the best forex trading platform for low fees – it might be worth considering TD Ameritrade. In a nutshell, this forex broker allows you to trade currencies on a commission-free basis with no hidden spreads. Instead, your fees are simply built in to the bid/ask price.

At TD Ameritrade, you will find over 50+ forex trading pairs across the majors, minors, and exotics. Although TD Ameritrade offers highly competitive fees, we should note that its native trading platform – thinkorswim, is perhaps better suited for seasoned investors. With that said, if you know your way around a trading suite – thinkorswim offers everything you need.

td ameritrade review

For example, you will find real-time economic news and forex market developments, technical indicators, customizable charting screens, currency trading maps, and much more. You can access thinkorswim via desktop software or your main web browser. It also comes in the shape of a mobile app for iOS and Android.

Minimum Deposit $0
Forex Pairs 50+
Trading Commission 0%
Spread Built into bid/ask price
Platform Web trader (thinkorswim)
Max Leverage 50:1
Account Types Offered Standard lots
Islamic Accounts? No
Swap Rate 1.25%
Broker Type Standard FX account


  • Highly advanced thinkorswim trading suite
  • Top-rated broker for seasoned investors


  • Average/minimum spreads are not published
  • Too advanced for beginners
  • Exotic markets more limited in comparison to other brokers

8. – Specialist Forex Broker for US Traders review

Launched in 2001, is an established currency trading platform that offers US clients over 80+ pairs at competitive fees. You will not pay any trading commissions when buying and selling forex pairs and spreads start at just 0.5 pips per slide on major markets.

The forex trading facility at this platform operates on a 24/5 basis. We also like that supports a variety of platforms across multiple devices. This includes integration with MetaTrader5 – which will suit those of you that seek access to high-level trading tools. There is also the web trader alongside a mobile app for iOS and Android. review is also popular for its academy, which comes with a wealth of educational guides and courses. This provider is also one of the best forex trading platforms for real-time news. You will find market insights and updates on key developments throughout the day – which can be invaluable for predicting market movements.

Minimum Deposit $100
Forex Pairs 80+
Trading Commission 0%
Spread From 0.5 pips
Platform Web trader + mobile app + MT4
Max Leverage 50:1
Account Types Offered Standard lots + Micro lots
Islamic Accounts? Yes
Swap Rate 0.0 pips
Broker Type Offers DMA and STP accounts


  • Specialist forex trading platform for US clients
  • 80+ forex pairs supported


  • $100 minimum deposit
  • Exotic pairs can come with high spreads
  • No weekend trading

9. E*TRADE – Good Forex Broker for Currency Futures

E*TRADE review

If you’re an experienced derivatives investor that wishes to trade currency futures, E*TRADE is one of the best forex brokers for this purpose. E*TRADE supports a variety of currency futures that covers everything from EUR and CAD to GBP and NZD.

Minimums and tick values will depend on the futures contract that you opt for. We like that E*TRADE offers its futures marketplace from just $1.50 per contract and orders can be placed on a 24/6 basis. Another benefit for those on a budget is that pattern day trading rules do not apply at this broker.

E*TRADE review

You will also have access to margin here, but do remember that this requires a minimum deposit of $2,000 as per SEC regulations. In addition to currency futures, E*TRADE is worth considering if you are wondering where to buy stocks with low fees. This is because the platform allows you to invest in US-listed equities at 0% commission.

Minimum Deposit $0
Forex Pairs 9 currency futures markets
Trading Commission From $1.50 per contract
Spread Built into bid/ask price
Platform Web trader + mobile app
Max Leverage Margin of up to 50%
Account Types Offered N/A (just currency futures markets)
Islamic Accounts? No
Swap Rate N/A
Broker Type Securities broker


  • Top broker for trading currency futures
  • Buy and sell futures from just $1.50 per contract


  • Limited number of supported currencies
  • No forex spot trading markets
  • Futures are not suitable for beginners

Top Forex Trading Platforms Compared

If you’re still not sure which provider from our list of the best forex brokers is right for you – check out our comparison table below:

Minimum Deposit Forex Pairs Commission Spread Platform Max Leverage Account Types Offered Islamic Accounts? Swap Rate Broker Type $20 138 0% commissions From 0.6 pips Web-based platform + mobile app + MT4 30:1 Standard lots No 3% +/- LIBOR CFD
XTB None 48 0% commissions From 0.1 pips Web-based platform + mobile app 500:1 Micro lots Yes  Varies depending on pair CFD
GO Markets $99 50+ 0% commissions on Standard account; €2 per trade on GO Plus+ account From 0.0 pips on GO Plus+ account Web trader + mobile app + MT4 500:1 Standard lots + micro lots No Between 0.3% and 2.5% CFD
AvaTrade $100 55 0% commissions From 0.9 pips Web-based platform + mobile app + MT4 + MT5 30:1 Standard lots Yes Between 0.4% and 2.8% CFD (Market maker)
Trade Nation No minimum deposit 28 Spread only From 0.0 pips on EUR/USD MT4, TN Trader, TN TradeCopier 500:1 Standard lots + micro lots No Varies depending on asset CFD
Interactive Brokers $0 100+ From 0.08 BPS No hidden spreads FXTrader web-based platform 50:1 Standard lots No Average 1% ECN and STP execution offered
TD Ameritrade $0 50+ 0% Built into bid/ask price Web trade (thinkorswim) 50:1 Standard lots No 1.25% Standard FX account $100 80+ 0% From 0.5 pips Web trader + mobile app + MT4 50:1 Standard lots + micro lots Yes 0.0 pips Offers DMA and STP accounts
E*TRADE $0 9 currency future markets From $1.50 per contract Built into bid-ask price Web trader + mobile app Margin of up to 50% N/A (just currency future markets) No N/A Securities broker

Just remember that some forex brokers offer different fees and minimums depending on the account that you open. As a result, be sure to check the specifics of your chosen account type before proceeding.

How we Select the Best Forex Brokers

If you’ve ever asked yourself the question ‘what is forex trading?’ then you’re in the right place. Choosing the best forex broker for you is an important decision to make before risking any capital.

Not only should you focus on factors surrounding fees and supported markets, but account types and minimums, regulation, leverage, trading tools, and more.

In the sections below, we discuss the main considerations to make when searching for the best forex brokers for your financial goals and investor profile.

Regulation and Safety

The first step to take when selecting the best forex broker for you is to check whether the platform is regulated and by whom.

In the US, both the Commodities Futures Trade Commission (CFTC) and the National Futures Association (NFA) are tasked with regulating the forex industry.

As such, it’s a smart idea to see whether your chosen forex broker has been authorized by at least one of these bodies. In doing so, you can be sure that you are trading forex in fair market conditions.

Forex Pairs

The forex trading industry is split between three pair categories – majors, minors, and exotics. We found that the vast bulk of forex brokers will cover all available major and minor pairs.

On the other hand, if you are looking to target higher gains and you favor volatile market conditions – you might want to focus on exotics. With that said, not all forex brokers offer access to exotic currencies like the Turkish lira or South African rand.

As such, if you’re looking for the best pairs to trade in forex – make sure the broker in question supports it before you sign up.

Financial Instrument

You should also explore what type of financial instrument the forex trading platform gives you access to.

Platforms such as E*TRADE and Fidelity, only offer access to currency derivatives. This means that you will be speculating on the future price of a currency.


Forex trading fees will typically center on two core metrics – commissions and spreads.


If you are required to pay a commission, your chosen forex broker will deduct a fee based on the size of your trade.

  • For example, let’s suppose that the broker charges a commission of 0.2% per slide
  • You decide to stake $2,000 on EUR/GBP
  • To enter this position, you will be charged a commission of $4
  • Let’s then say that you close the position when it is worth $2,200
  • In this scenario, you will pay a commission of $4.40 to close the trade

With that being said, you then have brokers like OANDA, which will charge a flat commission on its premium account. This stands at $50 for every $1 million traded –  which is very competitive.


It is important to note that many of the providers that made our list of the best forex trading platforms do not charge commissions. Instead, they operate a spread-only pricing model.

For those asking if forex trading is profitable, it goes without saying that the lower the spread, the better it is for your trading profits. This is because the spread is the gap between the bid and ask price that your chosen forex broker offers. As such, you want the spread to be as tight as possible.

Non-Trading Fees

It is also a good idea to assess what non-trading fees are charged when searching for the best forex broker for you. This might, for example, consist of a fee charged when you deposit and/or withdraw funds.

Access to Margin 

Major and even minor currency pairs will oftentimes move up and down throughout the day in a non-volatile manner. This means that without risking huge sums of capital, you might find that forex trading is not viable for your budget. For more details refer to our guide on risk management in forex.

This is where margin comes in. In a nutshell, by using a forex broker that gives you access to margin, you can trade with far more than you have in your account.

In the US, retail clients can trade major forex pairs with leverage of up to 1:50. On minor and exotic currencies, leverage is capped to 1:20.

Trading Platforms 

You should also think about the type of platform that is suitable for your forex trading goals and skillset.

If you’re an advanced trader, then you might want to choose a forex broker that is compatible with either MetaTrader 4 or 5. These are third-party platforms that come with highly advanced charting tools and indicators.

Tools and Features  

The best forex brokers will offer tools and features that can enhance your trading abilities.

Minimum Deposit  

It is also wise to check what the minimum deposit is at your chosen forex broker before you go through the account opening process.

Many of the forex brokers that we reviewed today allow you to get started without meeting an account minimum. However, you then have platforms like Saxo Bank and IG, which require a minimum of $2,000 and $250 respectively.

Ultimately, if the minimum deposit is too high for your budget, you might be trading with more than you can afford to lose.

Demo Account  

Another feature that we found at some of the best forex brokers that we reviewed is the availability of a demo account. Put simply, this will allow you to trade forex without risking any money.

Instead, although the demo account will mirror live market conditions, you will be trading with paper funds. This can be great for beginners that are learning how to trade forex for the first time.

Mobile App  

The forex markets can change momentum at a fast pace – so it’s also wise to choose a forex broker that offers a top-rated mobile app for your smartphone.

The best forex apps give you the opportunity to enter or exit a position no matter where you are located. Just make sure that the mobile app is user-friendly.

Payment Methods  

You will need to deposit funds before you will be able to start trading forex at your chosen broker. Therefore, the best forex brokers in this industry will support a wide variety of payment methods.

Customer Service  

If you need assistance on your forex brokerage account, you will want access to first-class customer support. The best forex trading platforms in this space typically offer support on a 24/5 basis.

In terms of contact methods, both live chat and telephone support will give you access to help in real-time. However, if you can only contact support via email, you will need to wait several hours or even days to receive a reply.


Forex is the largest trading market globally – so it makes sense that you will have plenty of different brokers to choose from. The best forex brokers that we identified offer dozens of pairs at competitive commissions and spreads.

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