ForexBest forex brokers for US traders in 2026
US residents can only trade retail forex with a dealer registered with the CFTC and a member of the NFA. Of the 11 brokers we review, two accept US retail forex clients: OANDA and FOREX.com. Here is how they compare, and why other well-known names are not options.
US brokers side by side
How to choose between them
Both are regulated the same way and offer the same platforms, so the decision usually comes down to cost on the account you would actually use. OANDA has no minimum deposit, but its commission-based core pricing needs a $10,000 balance. FOREX.com's RAW account is open from its $100 minimum. Compare the all-in cost per lot, spread plus commission, using our cost guide.
Why not Interactive Brokers?
Interactive Brokers is regulated in the US, but since September 2016 it has only allowed Eligible Contract Participants, broadly individuals with more than $10 million invested, to open new leveraged forex positions. Other US clients can convert currencies without leverage. See our Interactive Brokers review.
Why not IC Markets, Pepperstone, XM or Exness?
None of the other brokers we review is registered with the CFTC and NFA for US retail forex, and none accepts US retail clients for forex. An offshore broker that takes US clients anyway is operating outside US rules, and you would have no NFA protection if something went wrong. Learn how to spot a forex scam.
US rules in brief
Retail leverage is capped at 50:1 on major pairs and 20:1 on others, positions are closed first-in first-out, hedging the same pair in one account is not allowed and CFDs are not available. Read the full guide to US forex rules and check any broker on NFA BASIC before you deposit.