All Forex Brokers below are open to US clients and residents.
In order to trade Forex you need a Forex Broker. There are pros and cons to every broker. There are tens of thousands of reviews for each broker on many Forex websites. You must note that many of these reviews are breeding grounds for Forex Brokers themselves and traders that want to point the blame on someone else for taking losses. Please take each review with a grain of salt and use your own discretion.
We always suggest that you at least test demo account before opening a live account with a particular Forex Broker. With each forex broker, typically the spreads you see in demo account is the same as their live accounts. In this section you will find an extensive directory of many Forex Brokers with some highlights to each company. To find more information or download a free demo account for a specific broker, click on Learn more….
One of the few non- US forex brokerages that still opens to US clients is FinFX which is located in Finland. Up to 200:1 leverge, true ECN/STP, and funds are segregated unlike US forex brokerages. Client funds are on a segregated account on Nordea Bank which is on the top 50 safest bank list globally. Check them out below.
FinFX
- Minimum deposits: $150
- Client funds are segregated
- Deposits accepted: Bank Wire, Credit / Debit card, Money Bookers
- Raw Spreads starting from 0.2 pips
- No Mark-up with ECN means much better fills
- True ECN/STP environment on MetaTrader (MT4) platforms
- Flexible Leverage up to 200:1
- Scalping allowed - absolutely no restrictions
- EAs enjoy the best possible conditions
- Prices quoted to 5 decimal places
- Hedging allowed
- FIFO rule not applicable!
- Learn more....
Inexpensive VPS hosting service that is better than others that charge $60 per month ($24.95 per month): Click here
Forex.com (affiliate of Gain Capital)
- NFA / CFTC registered
- No hedging
- Minimum deposit: $250
- Deposits accepted: Credit Card, eCheck (ACH Payment), Wire Transfer, Personal or Business Check
- Max leverage 50:1 on major currency pairs
- Scalping restrictions: Scalping welcome
- Free VPS hosting for deposits over $5000
- Learn more....
Alpari
- NFA / CFTC registered
- Hedging not allowed
- Minimum deposit: $250
- Deposits accepted: Checks, PayPal, Credit Cards, and Wire Transfer
- Max leverage 50:1 on major currency pairs
- Scalping restrictions: No policies or restrictions on scalping
- 23 currency pairs available plus Gold and Silver
- Inactivity fee: Yes, you will be charged after the 120th day of inactivity.
- Free VPS hosting with $250 minimum deposit and execute at least 5 standards lots per month.
- Learn more….
Oanda
- NFA / CFTC registered
- No hedging allowed
- Minimum deposit: $1
- Deposits accepted: Checks, Bank wire, Credit cards and PayPal
- 38 currency pairs available plus gold and silver
- Max leverage: Max leverage 50:1 on major currency pairs
- Learn more….
ZuluTrade
- NFA / CFTC registered
- They are an Introducing broker to many FCM’s (FXDD, FXCM, Forex.com, etc)
- Free signals from other traders live accounts of your choice with zero fees.
- You can become a signal provider and produce extra revenue depending on traders that want your signals.
- Try a demo and choose your preferred signal provider to trade your account (demo acct)- Learn more....
Risk Disclosure:
“Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.”
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