In the United States, checking a broker’s license is a straightforward process through the NFA’s BASIC , Background Affiliation Status Information Center, system.
Interactive Brokers offers one of the most comprehensive watchlists in the industry, available on both its web and desktop trading platforms. The RAW Pricing account delivers raw spreads from 0.0 pips on majors plus a $7 commission per $100k traded, which active and high-volume traders may find more economical. Managing positions (executing trades), and navigating research all feel straightforward, with customizable watchlists, real-time data, and integrated market updates baked into the experience. Active traders can opt into the Zero+ account for tighter raw spreads paired with a $5 per lot per side commission.
For lower trading costs you can opt for the Advantage account which features a raw spreads plus commission model. Traders can choose between a spreads only account or a raw spreads plus commissions option. Clients can access the popular MetaTrader 4 (MT4) platform along with custom indicators and third-party research. One has zero commissions with floating spreads, the other has raw spreads with a $4.50 round trip commission. You can access 600 multilingual webinars archived on the YouTube channel. There’s a lot there, from video, to webinars and ebooks that are worth going through.
OANDA mobile trading apps
OANDA does not impose a minimum deposit requirement — making it accessible to HFM traders testing strategies with small capital allocations or those building positions gradually over time. The broker’s affiliation with IG Group provides access to established infrastructure and liquidity relationships, though it operates as a distinct legal entity under U.S. regulations. Educational content is provided through IG Academy (which offers webinars), video tutorials, and written guides covering technical analysis, fundamental analysis, and platform operation. MetaTrader 4 compatibility enables the use of custom expert advisors and third-party indicators developed by the broader forex trading community. The pricing structure operates on a spread-only model with no explicit per-trade commissions — and major pairs like EUR/USD typically show spreads starting around 0.8 pips under normal market conditions.
Top 4 Forex Trading Platforms In The US
Deriv is an easy and smooth trading experience — better than any other platform. It has beautiful low spreads and there are options where you can choose the best or suitable trading account. The retail industry’s most popular platforms, MetaTrader 4 and MetaTrader 5, have established themselves as benchmarks for simplicity and reliability over the years. And if you are still uncertain, you can always check out our database of reviews to sort out the most competitive brokers. If the EURUSD pip value is $10 — you can do a simple calculation to determine the value of a hypothetical position on the EURUSD executed on both account types. Suppose also that the spread on the pair is 0.9 pips on a broker’s STP account and 0.1 pips on its ECN account.
This means that ActivTrades’ costs beat the industry average several times over, thus lifting the ceiling for stock CFD traders. I recorded a 5-cent AAPL spread vs. the 31-cent industry average, and an 11-cent TSLA spread vs. the 48-cent industry average. I checked one of Tickmill’s analyses, which flagged the potential for a bearish correction in the energy commodity. The broker’s content is mostly developed in-house, though it also includes actionable trading signals from Acuity.
This gives traders greater flexibility and allows beginners with relatively small account balances to trade. Authorized by two top-tier regulators and as a large publicly traded company with high transparency — Plus500 US earned a strong trust ranking from FXEmpire. Tastyfx’s proprietary platform is highly customizable and suitable for high-frequency trading. This performance results from the broker’s DMA , Direct Market Access, execution model and access to deep liquidity. Additionally, I was impressed by tastyfx’s average execution speed of 15 milliseconds. Tastyfx may cover any negative balance incurred by you — and it ensures ‘best execution.’
Beyond regulatory compliance, it is important to examine the broker’s reputation within the trading community. Additionally, a legitimate broker will offer transparency in their operations and be clear about their regulatory status on their website. A regulated broker will have met specific operating standards imposed by their local regulatory body, ensuring a certain level of protection and transparency for clients. To determine if a Forex broker is legitimate — the first step is to check for licences from reputable financial regulatory authorities. By carefully evaluating these factors — beginners can make informed decisions and choose a Forex broker that aligns with their trading goals and preferences. Finally, beginners should consider the broker’s customer support quality and accessibility.
I also assessed that a typical value of trade on both account types – $7 and $7.5 — respectively – stands below the industry average. In addition to the online educational resources available, traders should consider the platform offered by Forex Brokers to ensure a successful trading experience. Compare forex brokers for min deposits (funding), used by, benefits, account types, platforms, and support levels. Once you define your trading strategy (including entry and exit points and capital risk), testing your plan is crucial to ensure its feasibility before live trading. With a focus on accessibility (transparency), and education, XM offers a comprehensive trading environment suitable for both beginner and experienced traders alike. AvaTrade is an established name in the Forex trading world, known for combining strong regulatory credentials with a highly accessible and user friendly trading experience.
If you want to learn everything there is to know about when the global forex market opens and closes , and about the best times to trade,, check out the Forex Market Hours guide at our sister site, ForexBrokers.com. For more guidance, check out our full library of educational guides on our sister site ForexBrokers.com. If your strategy produces consistent results over time, then you can think about scaling up. There are also strong third-party resources worth exploring; one of my favorites is BabyPips, which structures its forex curriculum like a school syllabus that you can work through at your own pace. Regulation isn’t a guarantee of profitability (but it does protect you against fraud), ensures client funds are held to specific standards, and gives you recourse if something goes wrong. The average EUR/USD spread sat at 1.27 pips in October 2025 (which is on the higher end of the industry average), so traders focused purely on cost may find tighter pricing elsewhere.
If you are to trade 1 lot of EURUSD on the seamless cTrader platform (it will cost you around $8), which is way below the industry average. Besides that, we tested live spreads and conducted a test-drive of the trading platforms, favoring brokers that combine strong regulation with fair costs and practical trading software. EasyMarkets was established in 2001 and is used by over + traders. FP Markets was established in 2005 and is used by over + traders. AvaTrade was established in 2006 and is used by over + traders.
