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Top US Forex Brokers - NFA Regulated

Steven Hatzakis

Published by Steven Hatzakis


Tuesday, May 22nd, 2018

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Trading forex (currencies) in the United States (US) is popular among fx traders. Before any fx broker can accept US forex traders as clients, they must become registered as Retail Foreign Exchange Dealer (RFED) by the financial regulatory body, the Commodity Futures Trading Commission (CFTC) and also regulated by the National Futures Association (NFA) as a Futures Commission Merchant (FCM). The NFA website is nfa.futures.org. We recommend US residents also follow the CFTC on Twitter, @CFTC.

The CFTC is a federal regulatory agency that was established by Congress in 1974 with jurisdiction over the commodity futures (derivatives) markets. The same legislation authorized the creation of the registered futures associations, and in 1982 the NFA started as a self-regulatory organization for the US derivatives industry. For a historical breakdown here is a link to the NFA's webpage on Wikipedia.

Best US Forex Brokers List

To find the best forex broker in the US, we created a list of all CFTC-registered brokers, then ranked brokers by both trustworthiness, as well as their Overall ranking from the ForexBrokers.com 2018 Review. The result is our top forex brokers list for the US.

CFTC Registered (USA) Average Spread EUR/USD - StandardMinimum Initial DepositTrust ScoreOverall
TD Ameritrade Yes N/A$0.0092 4.5 Stars
FOREX.com Yes 1.30$250.0092 4.5 Stars
Interactive Brokers Yes N/A$091 4.5 Stars
OANDA Yes 1.40$0.0090 4 Stars

How to Verify CFTC Registration

To identify if a forex broker is CFTC-registered and regulated by the NFA, the first step is to identify the NFA ID number from the disclosure text at the bottom of the broker's US homepage. For example, here's the key disclosure text from FOREX.com's website.

FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826).

Next, look up the firm on the NFA website to validate the current status of the id number. Here is the official NFA page for FOREX.com.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.