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Best Forex Brokers in the USA: 6 CFTC-Registered Dealers Compared

I rank OANDA first, with a global score of 88.3 out of 100, from our global broker test. On our global test panel of 36 brokers, its market orders filled in 84 ms, second on the panel, and its limit orders filled in 86 ms, fifth on the panel. If you want a zero advertised minimum spread, tastyfx's Zero+ account and FOREX.com's RAW pricing account both advertise 0 pips at their minimum, each with a commission: tastyfx US$5 per lot, and FOREX.com US$7 per US$100,000 traded.

Justin Grossbard, Co-Founder of CompareForexBrokers Written by Justin Grossbard Last updated:

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How the 6 CFTC-registered forex brokers compare

The score column shows our global published score, and the order follows that score; no score, spread, or execution figure on this page comes from a test of a US account or a US entity. The spread column shows what each broker advertises on its US site, with its basis word beside it, never a figure we tested; where a site publishes no EUR/USD spread, the cell reads “Not published on the US site”. The Filter and sort button reorders or narrows the table.

Filter
Showing 6 of 6 brokers
Compare spreads, platforms and our scores across 6 brokers, ordered by our ranking. Select a column header to re-sort. Select a broker's + for NFA and review details.How we rank
#BrokerGlobal score /100Advertised EUR/USD spread and basisPlatformsVisit brokerMore details
1OANDA logoOANDA#1 Highest global score88.31.4 pips, advertised, Spread-only pricing accountOANDA Trade (web, mobile, tablet)TradingViewMetaTrader 4Visit OANDA
NFA entity (NFA ID)
OANDA Corporation (0325821)
Regulation
CFTC and NFA: OANDA Corporation (NFA ID 0325821)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
2tastyfx logotastyfx68.20.8 pips, advertised minimum, Standard accounttastyfx platformsTradingViewMetaTrader 4MetaTrader 5+1 more platform, listed in this broker's detailstastyfx platforms, TradingView, MetaTrader 4, MetaTrader 5, ProRealTimeVisit tastyfx
NFA entity (NFA ID)
tastyfx LLC (0509630)
Platforms
tastyfx platforms, TradingView, MetaTrader 4, MetaTrader 5, ProRealTime
Regulation
CFTC and NFA: tastyfx LLC (NFA ID 0509630)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
3FOREX.com logoFOREX.com67.61.2 pips, advertised minimum, Spread-only accountFOREX.com platform (web, mobile)TradingViewMetaTrader 4MetaTrader 5Visit FOREX.com
NFA entity (NFA ID)
GAIN Capital Group LLC (0339826)
Regulation
CFTC and NFA: GAIN Capital Group LLC (NFA ID 0339826)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
4Interactive Brokers logoInteractive Brokers62.3Not published on the US siteIBKR DesktopTrader Workstation (TWS)IBKR MobileVisit Interactive Brokers
NFA entity (NFA ID)
Interactive Brokers LLC (0258600)
Regulation
CFTC and NFA: Interactive Brokers LLC (NFA ID 0258600)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
5Trading.com logoTrading.com53.51.2 pips, advertised average, T1 accountWebTraderAppMT5Official site of Trading.com
NFA entity (NFA ID)
trading.com Markets Inc (0516820)
Regulation
CFTC and NFA: trading.com Markets Inc (NFA ID 0516820)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
6Charles Schwab logoCharles Schwab51.2Not published on the US sitethinkorswim desktopthinkorswim webthinkorswim mobileVisit Charles Schwab
NFA entity (NFA ID)
Charles Schwab Futures and Forex LLC (0477394)
Regulation
CFTC and NFA: Charles Schwab Futures and Forex LLC (NFA ID 0477394)CFTC-registered, NFA member; the NFA ID identifies the firm and is not a license
Key sections

The 6 CFTC-registered forex brokers we rate, ranked

We order these brokers by our global published score, highest first, and each name links to that broker's US review. There is no separate US performance score. We have not run a US test of spreads, execution, or overall performance. Our team recorded account-opening checks with OANDA, FOREX.com, and tastyfx, but those are workflow observations only and they do not determine our ratings or this ordering.

  1. OANDA: highest global score of the six, 88.3 out of 100
  2. tastyfx: second-highest global score of the six, 68.2 out of 100
  3. FOREX.com: third-highest global score of the six, 67.6 out of 100
  4. Interactive Brokers: fourth-highest global score of the six, 62.3 out of 100
  5. Trading.com: fifth-highest global score of the six, 53.5 out of 100
  6. Charles Schwab: sixth-highest global score of the six, 51.2 out of 100

What are the 6 best forex brokers in the USA?

FCM and RFED, Forex Dealer Member

1. OANDA: highest global score of the six

88.3/100
Global score
#1 of 6 in this ranking

Advertised EUR/USD spread

1.4 pips, advertised, Spread-only pricing account

Platforms

OANDA Trade (web, mobile, tablet), TradingView, MetaTrader 4

NFA registration

OANDA Corporation, NFA ID 0325821, FCM and RFED, Forex Dealer Member since October 7, 2010

Retail forex obligations, July 2026

US$132,445,959, second of six reporting firms (CFTC financial data)

Why We Recommend OANDA

I put OANDA first in this ranking, which is ordered by our global score. Its US site advertises a margin rate from 2% on EUR/USD, spot crypto trading through Paxos's itBit exchange on its platform, and a Demo toggle that switches from live trading to a simulated environment. I also like that its spread-only pricing account wraps the commission into the spread, so you see one number and not two.

Pros & Cons
  • Funding by debit card (Mastercard, Visa, Discover), wire transfer, or ACH bank transfer, as its US funding page states.
  • Its US site advertises access to prices on 68 FX pairs.
  • Platforms include OANDA Trade on web, mobile, and tablet, plus TradingView and MetaTrader 4.
  • Its US site does not list the base currencies an account may be opened in.
  • Its US site names no tax form and carries no tax-reporting statement.
  • Its US site lists no futures product and no options product for US traders.
Broker's Detail

OANDA Corporation (NFA ID 0325821) is registered with the CFTC as a Futures Commission Merchant, effective March 14, 2003, and as a Retail Foreign Exchange Dealer, effective October 5, 2010, and it has held the Forex Dealer Member designation since October 7, 2010 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$132,445,959, second of the six firms reporting (the CFTC's financial data for July 2026).

What you pay sits in the spread: EUR/USD at 1.4 pips on its spread-only pricing account, a figure from a table headed "Spread" on its US pricing page, with the commission wrapped into the spread and no separate commission charge.

Its US regulatory disclosures page states that OANDA holds its operating and customer funds in accounts at banks. Its education pages describe the first-in, first-out rule as a mandatory requirement that all brokers in the United States must follow, which is worth reading before you place your first offsetting order.

The figures below are what OANDA's US site advertises on its spread-only pricing account, from a table headed "Spread". The table holds OANDA's Spread-only pricing account, and every figure is what the US site advertises, not a figure we tested.
AccountEUR/USD spread and basisCommissionSource
Spread-only pricing1.4 pips, advertisedCommission wrapped into the spreadUS site, September 23, 2026
RFED, Forex Dealer Member

2. tastyfx: second-highest global score of the six

68.2/100
Global score
#2 of 6 in this ranking

Advertised EUR/USD spread

0.8 pips, advertised minimum, Standard account

Platforms

tastyfx platforms, TradingView, MetaTrader 4, MetaTrader 5, ProRealTime

NFA registration

tastyfx LLC, NFA ID 0509630, RFED, Forex Dealer Member since October 15, 2018

Retail forex obligations, July 2026

US$49,950,447, fourth of six reporting firms (CFTC financial data)

Why We Recommend tastyfx

I rank tastyfx second, and I would point a US trader who wants platform choice its way. One thing to know before you compare it: the global score on its card is its parent group's global score, applied to tastyfx. If you want to compare costs across accounts, I would read its three minimum spreads side by side before you pick one.

Pros & Cons
  • Its demo account comes with US$10,000 in virtual funds for practice trading.
  • Platforms include TradingView, MetaTrader 4, MetaTrader 5, and ProRealTime alongside the tastyfx platforms.
  • Funding by debit card, wire transfer, or ACH bank transfer, as its US help pages state.
  • On pairs quoted in a currency other than the US dollar, such as USD/JPY, profit or loss is converted to US dollars with a 0.5% charge (its US pricing page).
  • Its US site does not state the base currency its accounts are opened in.
  • Its US site lists no futures product and no options product.
Broker's Detail

tastyfx LLC (NFA ID 0509630) is registered with the CFTC as a Retail Foreign Exchange Dealer, effective October 15, 2018, and as an Introducing Broker, effective December 10, 2024, and it has held the Forex Dealer Member designation since October 15, 2018 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$49,950,447, fourth of the six firms reporting (the CFTC's financial data for July 2026).

What you pay depends on the account: the Standard account advertises a EUR/USD minimum spread of 0.8 pips with no commission, the Prime account a minimum of 0.6 pips with no commission, and the Zero+ account a minimum of 0 pips with a US$5 per lot commission (its US account pages).

Its US help pages state the rule as positions in the same currency pair, and same size, needing to be closed on a first in, first out basis. Read that before you place two orders in one pair, because it changes how your closes sequence.

The figures below are the minimum spreads tastyfx's US site advertises on its Standard, Prime, and Zero+ accounts. The table holds tastyfx's three accounts that advertise a EUR/USD figure, Standard, Prime, and Zero+, and every figure is what the US site advertises, not a figure we tested.
AccountEUR/USD spread and basisCommissionSource
Standard0.8 pips, advertised minimumNo commissionUS site, September 23, 2026
Prime0.6 pips, advertised minimumNo commissionUS site, September 23, 2026
Zero+0 pips, advertised minimumCommission US$5 per lotUS site, September 23, 2026
FCM and RFED, Forex Dealer Member

3. FOREX.com: third-highest global score of the six

67.6/100
Global score
#3 of 6 in this ranking

Advertised EUR/USD spread

1.2 pips, advertised minimum, Spread-only account

Platforms

FOREX.com platform (web, mobile), TradingView, MetaTrader 4, MetaTrader 5

NFA registration

GAIN Capital Group LLC, NFA ID 0339826, FCM and RFED, Forex Dealer Member since October 7, 2010

Retail forex obligations, July 2026

US$204,121,663, first of six reporting firms (CFTC financial data)

Why We Recommend FOREX.com

I rank FOREX.com third, and I would send a US trader who wants a wide pair list and a long demo its way. In my view that demo length gives you time to learn the platform properly before you fund. I would also read its two account types carefully, because one charges a commission and the other does not.

Pros & Cons
  • A 90-day demo on its full-featured demo platform, as its US demo page states.
  • Access to 80 currency pairs, as its US trading accounts page advertises.
  • Client money kept separate from its funds in separate accounts with top-tier banks, as its US site states.
  • Its US site does not list the base currencies an account may be opened in.
  • The RAW pricing account charges a commission of US$7 per US$100,000 traded.
Broker's Detail

GAIN Capital Group LLC (NFA ID 0339826) is registered with the CFTC as a Futures Commission Merchant, effective July 29, 2004, and as a Retail Foreign Exchange Dealer, effective October 7, 2010, and it has held the Forex Dealer Member designation since October 7, 2010 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$204,121,663, first of the six firms reporting (the CFTC's financial data for July 2026).

What you pay depends on the account. The spread-only account advertises EUR/USD "as low as" 1.2 pips, an advertised minimum, with variable spreads and no commission. The RAW pricing account advertises a typical EUR/USD spread of 0.1 pips, which its US trade-prices page defines as the median spread available, with a commission on each trade (its US site).

Its US margin requirements page lists a EUR/USD margin requirement of 2% in its MMR table. Check that figure against your position size before you fund, because the security deposit is what you must hold to keep the position open.

The figures below are what FOREX.com's US site advertises on its spread-only and RAW pricing accounts, with their basis stated. The table holds FOREX.com's two accounts that advertise a EUR/USD figure, Spread-only and RAW pricing, and every figure is what the US site advertises, not a figure we tested.
AccountEUR/USD spread and basisCommissionSource
Spread-only1.2 pips, advertised minimum ("as low as")No commissionUS site, September 23, 2026
RAW pricing0.1 pips, advertised typical (the page defines Typical as the median spread available; "as low as" 0)Commission US$7 per USD 100k tradedUS site, September 23, 2026
FCM, Forex Dealer Member

4. Interactive Brokers: fourth-highest global score of the six

62.3/100
Global score
#4 of 6 in this ranking

Advertised EUR/USD spread

Not published on the US site

Platforms

IBKR Desktop, Trader Workstation (TWS), IBKR Mobile

NFA registration

Interactive Brokers LLC, NFA ID 0258600, FCM, Forex Dealer Member since April 19, 2012

Retail forex obligations, July 2026

US$26,190,990, fifth of six reporting firms (CFTC financial data)

Why We Recommend Interactive Brokers

I rank Interactive Brokers fourth, and I would send you here if you want forex alongside futures and options in one place. That breadth suits a US trader who trades more than spot FX. I would weigh the commission structure against your trade size before you open the account.

Pros & Cons
  • Spot forex, futures, and options are all available through Interactive Brokers LLC, as its US site states.
  • A Free Trial of IBKR Desktop, Trader Workstation (TWS), and IBKR Mobile platforms, as its US site offers.
  • Its US site states no forex margin rate on the margin pages it publishes.
  • Its US site states spreads "as narrow as 1/10 PIP" without naming a pair, and publishes no EUR/USD spread figure.
Broker's Detail

Interactive Brokers LLC (NFA ID 0258600) is registered with the CFTC as a Futures Commission Merchant, effective December 2, 1994, and it has held the Forex Dealer Member designation since April 19, 2012 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$26,190,990, fifth of the six firms reporting (the CFTC's financial data for July 2026).

You will not find a EUR/USD spread figure on its US site; it publishes none. What its US site does publish is a commission of 0.08 to 0.20 bps times the trade size, with no hidden spreads or markups.

Its US site states that a portion of client money, approximately 11% as of July 1, 2026, is segregated in special bank or custody accounts designated for the exclusive benefit of clients of IBKR.

The figures below are the commission Interactive Brokers' US site advertises on every account; its US site publishes no spread figure. Interactive Brokers' US site publishes no EUR/USD spread figure; the row carries the commission it does publish.
AccountEUR/USD spread and basisCommissionSource
Every accountNot published on the US siteCommission 0.08 to 0.20 bps times trade sizeUS site, September 23, 2026
FCM and RFED, Forex Dealer Member

5. Trading.com: fifth-highest global score of the six

53.5/100
Global score
#5 of 6 in this ranking

Advertised EUR/USD spread

1.2 pips, advertised average, T1 account

Platforms

WebTrader, App, MT5

NFA registration

trading.com Markets Inc, NFA ID 0516820, FCM and RFED, Forex Dealer Member since April 20, 2020

Retail forex obligations, July 2026

US$2,872,026, sixth of six reporting firms (CFTC financial data)

Why We Recommend Trading.com

I rank Trading.com fifth, and it suits a US trader who wants a compact platform set. If you want a straightforward spot forex setup without comparing account tiers, I would put this on your shortlist.

Pros & Cons
  • Platforms are WebTrader, the App, and MT5, as its US about page lists.
  • Access to 65+ currency pairs on MT5, as its US site advertises.
  • Its customer agreement recommends that you open a practice account to become familiar with the order entry process.
  • Its US site lists no futures product and no options product.
  • Its US site offers one account type, the T1 account, stating "No confusing choice between account types." (its T1 account page).
Broker's Detail

trading.com Markets Inc., NFA ID 0516820, is registered with the CFTC as a Retail Foreign Exchange Dealer, effective April 20, 2020, and as a Futures Commission Merchant, effective June 4, 2026, and it has held the Forex Dealer Member designation since April 20, 2020 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$2,872,026, sixth of the six firms reporting (the CFTC's financial data for July 2026).

What you pay on the T1 account is an advertised average EUR/USD spread of 1.2 pips, with no commission (its US forex pricing page).

Its US site states that all your money is kept securely in major US banks.

The figures below are what Trading.com's US site advertises on its T1 account, on an average basis. The table holds Trading.com's T1 account, and every figure is what the US site advertises, not a figure we tested.
AccountEUR/USD spread and basisCommissionSource
T11.2 pips, advertised average (as low as 0.00010)No commissionUS site, September 23, 2026
FCM, Forex Dealer Member

6. Charles Schwab: sixth-highest global score of the six

51.2/100
Global score
#6 of 6 in this ranking

Advertised EUR/USD spread

Not published on the US site

Platforms

thinkorswim desktop, thinkorswim web, thinkorswim mobile

NFA registration

Charles Schwab Futures and Forex LLC, NFA ID 0477394, FCM, Forex Dealer Member since February 16, 2016

Retail forex obligations, July 2026

US$55,996,755, third of six reporting firms (CFTC financial data)

Why We Recommend Charles Schwab

I rank Charles Schwab sixth, and I would send you here if you want forex inside a broader trading account. The paperMoney demo, with US$100,000 of virtual buying power, gives you a generous practice balance for learning the platform. One thing I would check first: its learn article states that at Charles Schwab Futures and Forex, only U.S. dollars can be physically held in the forex account.

Pros & Cons
  • Access to over 65 currency pairs, as its US forex page advertises for its traders.
  • Futures and futures options trading is provided by Charles Schwab Futures and Forex LLC, as its US site states.
  • All forex positions are automatically closed if account equity falls to 25% or less of the required margin level (its forex education article).
  • Its US site states no forex margin requirement for its forex accounts.
Broker's Detail

Charles Schwab Futures and Forex LLC (NFA ID 0477394) is registered with the CFTC as a Futures Commission Merchant, effective October 3, 2014, and it has held the Forex Dealer Member designation since February 16, 2016 (NFA BASIC, read September 23, 2026). Its retail forex obligations were US$55,996,755, third of the six firms reporting (the CFTC's financial data for July 2026).

You will not find a EUR/USD spread figure on its US site; it publishes none. What its US site states is that forex trading is commission-free and trade costs are reflected in the bid-ask spread, so your cost is inside the price you see.

Funding runs by ACH, wire transfer, or check, as its US site states.

The figures below reflect what Schwab's US site states: trading is commission-free and costs sit in the bid-ask spread. Charles Schwab's US site publishes no EUR/USD spread figure; the row carries the commission it does publish.
AccountEUR/USD spread and basisCommissionSource
Every accountNot published on the US siteNo commissionUS site, September 23, 2026

Which forex brokers are registered with the CFTC and NFA?

The register holds six firms registered as retail forex counterparties with a Forex Dealer Member designation: four are Retail Foreign Exchange Dealers (RFEDs) and two are Futures Commission Merchants (FCMs) without an RFED registration (NFA BASIC). The Forex Dealer Member designation is one NFA BASIC records for each firm, and it is the designation NFA Compliance Rule 2-43(b) addresses. Every broker on this page is one of these six.

The six CFTC-registered retail forex dealers with a Forex Dealer Member designation, read from NFA BASIC on September 23, 2026, with each firm's retail forex obligations from the CFTC's financial data for July 2026.
BrokerLegal entityNFA IDCFTC registrationForex Dealer Member sinceRetail forex obligations, July 2026
OANDAOANDA Corporation0325821FCM and RFEDOctober 7, 2010US$132,445,959
tastyfxtastyfx LLC0509630RFEDOctober 15, 2018US$49,950,447
FOREX.comGAIN Capital Group LLC0339826FCM and RFEDOctober 7, 2010US$204,121,663
Interactive BrokersInteractive Brokers LLC0258600FCMApril 19, 2012US$26,190,990
Trading.comtrading.com Markets Inc0516820FCM and RFEDApril 20, 2020US$2,872,026
Charles SchwabCharles Schwab Futures and Forex LLC0477394FCMFebruary 16, 2016US$55,996,755

How to choose a forex broker in the USA

1. Check the dealer on NFA BASIC

Before you fund anything, I would look the dealer up on NFA BASIC by its NFA ID and confirm the legal entity shown on the broker’s US disclosure page is the one registered. The ID identifies the firm on NFA BASIC; it is not a license. If the entity name on the site and the name in the register do not match, stop and check again before you go further.

2. Read the advertised spread and its basis

I read the advertised spread with its basis word before I compare anything: a minimum is the lowest the broker says it goes, a typical is the broker’s own median or usual figure, an average is its stated average. Check which account the figure belongs to, because the same broker can advertise very different figures on different accounts, some with a commission and some without. When you compare, compare like with like: a minimum against a minimum, a typical against a typical, an average against an average.

3. Read the security deposit and FIFO terms

Read the security deposit the dealer sets against the minimum set by 17 CFR 5.9, and its FIFO terms under NFA Compliance Rule 2-43(b). Both matter to you: the security deposit is what you must hold to keep a position open, and the FIFO rule sets the order in which your positions close. I would read both before your first trade, because they shape how much you can hold and when your positions close, and I would not fund an account without knowing them. OANDA, tastyfx, FOREX.com, and Trading.com state FIFO terms on their US sites; Interactive Brokers and Charles Schwab state no FIFO terms and no forex margin rate, so for those two the rule is what you read.

Check which legal entity will hold your account, and that it is registered as an RFED or an FCM (NFA BASIC). The brand you see advertised is not always the entity that holds your money, and the register names entities, not brands. I would confirm the entity on the dealer’s own US disclosure page, then match it to the register before you fund.

5. Check the retail forex obligations the dealer reports

The CFTC publishes each dealer’s retail forex obligations every month: the money the dealer owes its retail forex clients (the CFTC’s financial data). I check the figure because it tells you the size of a dealer’s retail forex business, and it is a size figure, nothing more. Each card on this page carries the dealer’s figure and where it ranks among the firms reporting.

1Check the dealeron NFA BASIC2Read theadvertised spreadand its basis3Read the securitydeposit and FIFOterms4Check which legalentity holds youraccount5Check the retailforex obligationsthe dealer reports
The five checks in order, from the NFA record to the dealer's monthly CFTC report. Each one can be completed from NFA BASIC, the CFTC's financial data and the dealer's own US site before you deposit.

Yes, forex trading is legal for a US resident who trades with a dealer registered with the CFTC. The CFTC’s regulations require the registration of counterparties offering retail foreign currency contracts as either futures commission merchants (FCMs) or retail foreign exchange dealers (RFEDs). The six dealers on this page are all registered with the CFTC and carry Forex Dealer Member designations, and they are the kind of counterparty the regulations recognize for retail forex. The CFTC tells a US resident to verify that the entity is properly registered with the CFTC, and to visit the NFA BASIC database to check. You can do both yourself, at no cost, before you open an account.

What leverage can US forex traders use?

The US rule on leverage is a security deposit: 2% of the notional value of a retail forex transaction for major currency pairs (50:1, our arithmetic) and 5% for all other currency pairs (20:1, our arithmetic), under 17 CFR 5.9. A major currency pair security deposit percentage applies only when both sides of the transaction involve major currencies, so a transaction that pairs the US dollar with a non-major currency falls to the higher rate for its entire value (NFA Forex Regulatory Guide). NFA Compliance Rule 2-43(b) adds that Forex Dealer Members may not carry offsetting positions in a customer account but must offset them on a first-in, first-out basis.

How much do you need to start trading forex in the US?

The table below shows each dealer’s stated minimum deposit. I would read it alongside the security deposit under 17 CFR 5.9 set out above, because your first deposit has to meet two things: the dealer’s account minimum and the security deposit on the position you open. Start with a figure you can afford to lose, not the minimum.

The minimum deposit each broker states on its own US site, with the page and the date it was read.
BrokerMinimum deposit, as statedSource
OANDAUS$0 (stated for bank wire transfer)US site, September 23, 2026
tastyfxUS$0 (Standard, Zero+), US$50,000 (Prime)US site, September 23, 2026
FOREX.comUS$100 (minimum initial deposit)US site, September 23, 2026
Interactive BrokersUS$0 (account minimum, IBKR Pro and IBKR Lite)US site, September 23, 2026
Trading.comUS$50 (T1 account)US site, September 23, 2026
Charles SchwabUS$0 (to open a Schwab account and use thinkorswim; product minimums apply)US site, September 23, 2026

Which US forex broker is best for beginners?

I would start any US beginner on a demo before a funded account. OANDA’s US site has a Demo toggle that switches you from live trading to a simulated environment. tastyfx gives you US$10,000 in virtual funds, and Charles Schwab’s paperMoney comes with US$100,000 of virtual buying power. FOREX.com’s demo runs for 90 days on its full-featured platform, Interactive Brokers offers a Free Trial of its platforms, and Trading.com’s customer agreement recommends that you open a practice account to become familiar with the order entry process. In my view the length of the trial matters less than using it: place orders, close them, and watch how the FIFO rule sequences your closes before you fund.

Which trading platforms do US forex brokers offer?

The six US sites list these platforms. OANDA offers OANDA Trade on web, mobile, and tablet, plus TradingView and MetaTrader 4. tastyfx lists its own platforms, TradingView, MetaTrader 4, MetaTrader 5, and ProRealTime. FOREX.com offers its own platform on web and mobile, TradingView, MetaTrader 4, and MetaTrader 5. Interactive Brokers gives you IBKR Desktop, Trader Workstation (TWS), and IBKR Mobile. Trading.com lists WebTrader, its App, and MT5. Charles Schwab runs all its forex trading on thinkorswim, in desktop, web, and mobile versions. If you specifically want MetaTrader 4, OANDA, tastyfx, and FOREX.com list it; for MetaTrader 5, look to tastyfx, FOREX.com, and Trading.com.

How we score the 6 brokers, and what we measured

Every score on this page is our global published score from our global broker test, and no score, spread, or execution figure here comes from a test of a US account or a US entity. The spreads are what each broker advertises on its own US site, with the basis word stated beside each figure. The register facts are from NFA BASIC, read September 23, 2026, and the retail forex obligations are from the CFTC’s monthly financial data. Where we give a broker’s execution figures, they come from our global test panel of 36 brokers, carried over from global testing. Full details are in our methodology.

I ordered the six dealers by that one published score, and the page says so wherever a score appears. I own the broker ordering. No colleague tested a US entity, so the page rests on what NFA BASIC, the CFTC’s data, and each broker’s own US site say, read on the dates given.

Compare brokers by trader type

Each page ranks the registered dealers that offer one thing, read from each dealer's own US site. The anchor text is that page's own heading.

Most searched brokers in the United States

In August 2026, Interactive Brokers was the most searched of the 5 CFTC-regulated brokers in our search-interest ranking, on 182,280 branded Google searches from the United States. Popular is not the same as best: the ranking above scores each broker on what it offers; this table measures how many US traders looked for each brand.

Brand searches, all 5 brokers
231,310August 2026, +8.1% vs July
Most searched
Interactive Brokers78.8% of all searches
Biggest riser (1,000+ searches)
FOREX.com+22.8% vs July
CFTC-regulated brokers in our search-interest ranking, ranked by branded Google searches from the United States in August 2026
#NameBrand searches per monthvs July12 months
1Interactive BrokersCounts the whole Interactive Brokers brand182,280+9.9%
2OANDA41,130+0.3%
3FOREX.com3,710+22.8%
4tastyfx3,080-1.3%
5Trading.com1,110+8.8%

Charles Schwab is not ranked here: the phrase "charles schwab" counts searches for the whole Charles Schwab company (3,385,540 in August 2026, 2,762,720 of them login searches) and is not comparable with a forex dealer's brand searches.

Source: Google search volume, the United States, August 2026.

How this is measured

Google Ads reports how many times a month people in the United States searched each broker's brand terms, and the brokers are ranked on that figure alone.

A term counts for a broker only when that broker's own website holds the first organic Google result for it in the United States; bare brand words that any company could own are left out.

A month-on-month change prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.

The figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.

FAQs

Which US forex brokers are registered with the CFTC?
Six firms are registered with the CFTC as retail forex counterparties with Forex Dealer Member designations: OANDA Corporation, tastyfx LLC, GAIN Capital Group LLC, Interactive Brokers LLC, trading.com Markets Inc., and Charles Schwab Futures and Forex LLC. Four are RFEDs and two are FCMs without an RFED registration (NFA BASIC). The register table above lists each with its NFA ID.
Which US forex broker advertises the lowest EUR/USD spread?
No single dealer holds that title. tastyfx advertises a EUR/USD minimum of 0 pips on its Zero+ account with a US$5 per lot commission, and FOREX.com advertises "as low as" 0 on its RAW pricing account with a US$7 per US$100,000 commission. Both are advertised minimums from the brokers' US sites, not figures we tested, so read the basis word before you compare.
Can I hold opposite positions on the same pair with a US forex broker?
No. NFA Compliance Rule 2-43(b) states that Forex Dealer Members may not carry offsetting positions in a customer account but must offset them on a first-in, first-out basis. Four of the six state FIFO terms on their US sites, among them tastyfx and FOREX.com. Interactive Brokers and Charles Schwab state none, and the rule applies where a site states none.
Is my money protected with a US forex broker?
Not in the way an exchange-traded account is protected. Every FCM and RFED must print the disclosure that funds deposited for trading off-exchange foreign currency transactions are not subject to the customer funds protections of a designated contract market, and SIPC does not cover retail forex at any US dealer. The rules do require each FCM or RFED to hold liquid assets equal to or in excess of its total obligation to retail forex customers (the CFTC's forex final rule; NFA's Forex Regulatory Guide).
Can I trade CFDs with a US forex broker?
No. OANDA's US site states that CFDs, including index, bond, and commodity-based CFDs and precious metals, are not available to US residents, and FOREX.com's US site states that CFDs are not available for US residents. tastyfx's and Trading.com's US sites list no CFD product, and Interactive Brokers' and Charles Schwab's US sites carry none. Spot forex, and for some dealers futures and options, are what the six offer.
How do I check a US forex broker myself?
Look the firm up on NFA BASIC by its NFA ID and confirm the legal entity matches the one on the broker's US disclosure page. The CFTC tells a US resident to verify that the entity is properly registered with the CFTC and to visit the NFA BASIC database to check. Both checks are free and take minutes, and I would not fund an account before completing them.

About the author

Justin Grossbard, Co-Founder of CompareForexBrokers

Justin Grossbard

Justin Grossbard is the Co-Founder and CEO of CompareForexBrokers, which he established with Noam Korbl in 2014. He has over 20 years of professional experience in online marketing and holds a Master's in Marketing from Monash University.

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