How to Choose the Right Forex Broker for you ? Features to consider when selecting a suitable Forex Broker for yourself.
Regulations, commissions, platforms, account minimums and fees are just some of the factors you should consider when choosing an online Forex and CFD broker. Moreover, the forex Brokers hold your money in an account that changes value nightly in reaction to daily profits and losses, and they handle fees that may include commissions, access to expert advice and withdrawal requests. Some brokers hide their fee schedules within legal jargon buried deep in website fine print, which means potential clients need to do their homework before opening an account.
In nutshell below are the points one should consider while choosing a broker for them:
- Forex Account Types: Types of Accounts-Does any of them suits the personality and need of the trader
- Forex Broker Types: STP/ECN/NDD or others
- Customer Service: Are they providing an excellent uninterrupted customer service
- Broker Regulation: Are they regulated globally or at least respected and accredited within the industry.
- Deposit and Withdrawal Methods: Are the deposits and withdrawal methods easy and quick.
- Forex Bonuses: This is an optional but still may attract new trader
- Margin Call and Leverage: It’s important to know before once start trading on real account with type of account.
- Spread, Cost and Trading Conditions: Many brokers offer traders a choice of fixed or variable spreads and commission fee structures when trading forex. ECN-style trading accounts that charge flat-rate, round turn commission fees allow for ultra-competitive spreads that can be as low as 0.0 pips, while standard accounts offer wider spreads, yet traders face no commission fees.
- Execution Speed and Slippage: Forex markets are volatile, thus choosing a broker with fast execution, and minimal slippage is important for trading strategy success
- Availability of Trading Platforms-Ease of Trading Platform Use: It’s very important on the ease or use of the trading platform, are they easy to use with good and friendly user interface
We are not going that much in details here on each of them as If someone goes only with regulations they are lacking in good trading conditions, spreads, good platforms, technical analysis etc. and if someone is good in some of these they might be lacking in some. So here we included some brokers that we have personally traded and still trading and we are pretty happy with them in terms of trading conditions, deposits/withdrawals, spreads, customer support etc.
This does not mean they are fulfilling all the criteria’s for an ideal broker. NO. But theoretically going to the ideal broker may not be a real broker which suits your trading personality and the conditions you want to trade always. So we have included only those brokers we have been traded and trading from past few years almost a decade. Still, these are the only Good Brokers but we can only suggest the ones we have traded and trading on and its impossible to test, check all the brokers available on the internet. These are the Brokers who accept Clients and Traders from the USA (the United States of America) to trade forex with them offering good trading conditions with other features.
Also Read:
- Why we need Forex VPS to Trade? The Best Forex VPS Providers: Click Here
- One of the Best Meta-Trader-4 / MT-4 Brokers to Trade Forex : Click Here
- One of the Best Meta-Trader-5 / MT-5 Brokers to Trade Forex : Click Here
- Forex Brokers Offering Mini, Micro & Cent Accounts to trade Forex: Click Here
- Forex Brokers supporting fast Local Deposits & Withdrawals in Local Currencies including India & other Asian and other Countries: Click Here
- What are Binary Options Trading How to trade Binary Options & Best Brokers to trade Binary Options: Click Here
There are very Limited Broker Options for the United States of America residents. Few of the brokers provide very conservative Leverage which may limit the potential to trade in Forex Market. We do understand, regulated Brokers in the United States may be more recommended but at the same time we also agree that the trading conditions should be more favorable to trade even for the USA clients/ traders as rest of the world. We listed a few brokers which were suggested and recommended by few of our users based out in the United States of America who are already trading with them for quite some time and found no issue in Trading Conditions, Deposits and Withdrawals and are quite happy with them. Have a Look
| Forex + CFD broker founded in 2015 in the Marshall Islands | Accepts Client from the United States of America Know more |
| STP, NDD Model providing direct market access and removing requotes | Very competitive spreads and high leverage on Micro accounts |
| The broker has a solid client base spanning multiple locations in the world. | Multiple accounts to meet the needs of Most of Forex traders |
| Offers 100% deposit bonus up to $20,000 | STP Execution + ECN Trading |
| Customers funds held in segregated accounts in top-tier European banks | Best ECN Broker 2017 – TheForexAwards.com |
| Low Spreads from 0 Pips – Click to explore | Negative Balance Protection |
| Most Reliable Broker 2017 – TheForexAwards.com | Multi-Lingual & Skilled 24X5 Customer Support |
| 7+ non-metallic commodities, 71+Forex currency pairs & 12+ equity indices to Trade | Leverage: 1:500 & 100% Deposit Bonus Get more Info |
| Publicly listed company in St. Vincent and the Grenadines | Stores client funds in segregated accounts. Get more Info |
| Performs regular on-going evaluation reports | STP / ECN |
| Institutional grade liquidity from top banks | 24/7 Client Support |
| Wide range of account base currencies | 10 Min Deposit |
| Low minimum deposit. Click to know more | 1:500 Leverage |
| No deposit or withdrawal fees | $50 Minimum Deposit |
| No inactivity fees | 1:500 Leverage |
| 55+ currency pairs, 64 Stocks & 33 Cryptos to Trade | Accept USA Customers too |
| In the Business & Operating since 2018 & Accept USA Clients too – More Info | Registered in Saint Vincent and the Grenadines |
| All accounts are ECN STP accounts that use market execution | Offering Max Leverage 1:500 – Get to know more |
| 55+ Forex Currency Pairs, 11+ Indices, 9 Commodities, Metals to Trade | 109+ Stocks, and 31 Crypto / Digital Currency available to trade |
| Type of Account: Mini Var Pro Standard | MT4 & Mobile Trading |
| Traders can trade on institutional grade liquidity from the top investment banks, as well as from completely transparent dark pool liquidity execution venues | Allow all kind of strategies by traders including Scalping, New Spike, Automation / EA Trading Click to know more |
| Founded in 2011, registered in Saint Vincent and the Grenadines | Regulated By SVG-FSA & Accept Clients from the USA – Get more Info |
| Mini / Standard / Fix / VIP / Cent / Islamic Account Options to cater Most of the Traders | Low trading capital of $10 required and Zero Commission on Deposit |
| Commission-free trading available | Free VPS & training resources |
| Various account deposit/withdrawal methods | High Leverage & One-click trading |
| User Friendly Meta-Trader 4 for PC and Android/iOS app. | Execution Type: ECN and STP Execution speed. |
| Daily Analysis and Large range of research and educational resources | Tight spreads & rapid trade execution speeds |
| Customer Support via Live Chat, Skype, Email, Call Back Request and Telephone. | Multilanguage Support: Serving over than 50 countries every day. |
| Fast Execution: Infrastructures has been deployed within industry leading datacenters in London (Equinix LD4) and New York (Equinix NY4) Click to know more | Fast Deposit/Withdraw: 90% of all deposits within 7 min, for 75% of withdrawals takes less than 30 min to reach the client’s account |
| Hedging & Automated trading Allowed | Trailing stop & Pending orders |
| Founded in 2007 and is authorised and regulated around the world through its different subsidiaries. This includes regulation from the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). Know More | Offers 2,000+ financial CFD instruments covering Stocks, Indices, Commodities, Currencies and Cryptocurrencies. Users can also access ready-made CopyPortfolios, open Investing Accounts with zero commission, Professional Accounts and access social trading services via CopyTrader which is their most popular feature. |
| Multi-Asset Platform: Their platform gives traders and investors access to more than 2,000 different financial assets, including stocks, cryptocurrencies, ETFs, indices, currencies and commodities which can be invested in both with and without leverage, giving almost anyone access to short-, mid- and long-term investment options. | Low Fees and Commission: When you open a long, non-leveraged position on a stock or ETF, you pay 0% commission. There are no spreads, no fees and no hidden charges, and you actually gain rights in the underlying asset. It offers competitive spreads on other asset classes, including spreads as low as 1 pip for leading Forex pairs. Get more Info |
| Over 11 millions of users in more than 150 countries worldwide | Multiple regulations including Tier 1- CySEC, FCA, ASIC regulated. |
| Funds are kept in a Segregated Account | 2,000+ markets to trade on. |
| Cyber Security Standards: Employs the highest standards for protecting its clients’ funds and personal information. | Choice of trading, investing and copy trading accounts. Leading social trading platform for Copy-Trading. |
| Multi-Asset Platform Stocks, ETFs, Crypto, indices and more | Feature-rich Trading Platform for web and mobile |
| Everything in real time: Enjoy optimum quality & speed with fastest app ever. | All-in-One design: Trade multiple assets and copy other traders in a single application. |
| 24/7 Customer Support – Explore further | Single payment spread pricing |
| 0% Commission* on stocks, ETFs and competitive trading fees | FREE Insurance** up to 1 million Euro/GBP/AUD |
| Personalized trading: Customize your trading dashboard to suit your strategy and preferences through a User-friendly, graphical interface. | Investing with experts Unique portfolios and the ability to copy top trade through Social Trading a community of over 10 million users |
| Cross-device experience: Enjoy a seamless experience across all devices | Protecting your funds and personal information. Click to know more |
| Trading brand registered in the Republic of North Macedonia. explore further | Accepts Clients from the United States of America |
| Operating since 2017 and has taken on clients in locations throughout the world, from Europe to Canada and Australia. | Fixed and Variable spread from 0.0 pip(would be 0.4 pip including the commission) |
| Separates itself through its highly-leveraged forex trading services up-to 1:1000 | True STP model with fast execution speed Get more Info |
| Offers both fixed spread and variable spread ECN accounts, making it suitable for different types of Forex strategies | Forex, Commodities, Precious Metals, Energies, Stock CFDs and Index CFDs are available to Trade |
| MT4 for Windows PC, Android, iOS(iPad, iPhone), Web terminal | Type of Accounts: Zero, Fixed & Premium |
| Variety of promotions(Demo/live Contest, 100% deposit bonus, cash back bonus etc.) | Low Trading Fees / Commission and No Fees on Deposits |
| Attractive bonus offers, including 100% of bonus with a minimum deposit of $100 | Instantaneous funding with major credit and debit cards – Click to know more |
| • North American Derivatives Exchange is a Chicago-based financial exchange that formerly known as Hedge-Street Exchange. The company is a subsidiary of London’s IG Group (LON: IGG) and is a regulated entity in the USA. |
• US-based and Commodity Futures Trading Commission (CFTC) regulated Broker Operating since 2009. It Operates as an exchange, and not as a broker — so we can expect no misaligned incentives. |
| • Regulated and open to U.S. clients as well for many other countries. | • Trading Platform: Nadex Desktop, NadexGO |
| Binary options, knock-outs, and call spreads are available with various contract durations | No Conflict of Interest – Low/Fixed Trading Fees Upfront (transparent) Get more Info-Click |
| Wide variety of tradable markets: Provides access to plenty of different markets through options contracts. Stock indices, commodities, currencies and macroeconomic events can be bought and sold using binary options | Trustworthy counterparties: regulated by the CFTC and clients can rest easy knowing that it’s in the best interest of the exchange to facilitate fair and honest trading |
| Best for Binary options traders, Knock-out and call spread traders, Advanced traders who understand derivatives markets – Get a Free Demo A/C now | Short-term contracts for fast-paced trading – make market volatility work for you |
| Detailed educational materials and helpful tutorials | $100 bonus with an initial deposit of $1,000* |
| Segregated client funds | Competitive commissions |
