US Forex Brokers

US Forex brokers… Most reliable?

You can put the question this way; becoming a US Forex broker isn’t as simple as registering an off-shore brokerage. The answer lies in the regulatory requirements. All US brokers must be registered with NFA (National Futures Association).
While registration itself isn’t the issue, being a member of NFA regulated brokers group requires adherence to the strict NFA rules.

US Forex brokers list:

EagleFX
Key Features
100% Anonymous Trading
24/7 Customer Support
Same Day Withdrawals
Min Deposit
$10
United States
Key Features
100% Anonymous Trading
24/7 Customer Support
Same Day Withdrawals
Payment Methods
Credit Card, Debit Card, Bitcoin, Wire Transfer
EagleFX is an online digital asset, Forex and CFD broker providing traders across the globe with cutting edge technology to trade the world’s markets. Our focus has been to change the way people trade Digital Assets and Forex. We are driven to provide traders with incredibly low-cost pricing across all Digital assets, FX, stocks, indices, commodities and futures along with industry-leading 24/7 live customer support.
Nadex
Key Features
CFTC Regulated exchange based in the US
Trade binary options and option call spreads on 10 forex pairs
100% defined risk trades on Forex, Stock Index Futures and Commodities underlying markets
Min Deposit
$250
United States
Key Features
CFTC Regulated exchange based in the US
Trade binary options and option call spreads on 10 forex pairs
100% defined risk trades on Forex, Stock Index Futures and Commodities underlying markets
Payment Methods
ACH, Debit Card, Wire Transfer
Nadex is the first, and largest, CFTC regulated exchange designed for the individual trader. Nadex offers around the clock trading on Forex, Stock Index Futures and Commodities. Nadex offers three unique contract types: Binary Options, Touch Brackets and Call Spreads giving traders the ability to trade how they want, when they want.
FOREX.com
Key Features
Competitive spreads with EUR/USD as low as 0.8 pips
Trade on over 80 currency pairs with sophisticated trading tools
Trade 24 hours a day, 5 days a week with a global market leader
Min Deposit
$50
United States
Key Features
Competitive spreads with EUR/USD as low as 0.8 pips
Trade on over 80 currency pairs with sophisticated trading tools
Trade 24 hours a day, 5 days a week with a global market leader
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated juristictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
Forex trading involves significant risk of loss and is not suitable for all investors.
EagleFX
Key Features
100% Anonymous Trading
24/7 Customer Support
Same Day Withdrawals
Min Deposit
$10
United States
Key Features
100% Anonymous Trading
24/7 Customer Support
Same Day Withdrawals
Payment Methods
Credit Card, Debit Card, Bitcoin, Wire Transfer
EagleFX is an online digital asset, Forex and CFD broker providing traders across the globe with cutting edge technology to trade the world’s markets. Our focus has been to change the way people trade Digital Assets and Forex. We are driven to provide traders with incredibly low-cost pricing across all Digital assets, FX, stocks, indices, commodities and futures along with industry-leading 24/7 live customer support.
PaxForex
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Min Deposit
$100
United States
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Payment Methods
Credit Card, Debit Card, Wire Transfer, Bitcoin, Ethereum, Neteller, Perfect Money, QIWI, Skrill, UPayCard, WebMoney
You are unlikely to find a more comfortable broker than PaxForex. Our company provides customers the best possible conditions for successful Forex\Cryptocurrencies, Spot metal\Stocks trading. We have offers for both beginners and experienced traders. The main engines of our progress at the financial trading t are spotless reputation; focus on customers and innovative approach to business development. Our achievements have been confirmed by the successes of every one of our traders. Today we are a well-known lowest spread broker trusted by hundreds of thousands of customers worldwide. We assure you that working with PaxForex ensures the highest level of service, strict compliance with all the terms of trading, and reliability provided by the most advanced technologies.

Requirements to become a US Forex broker

All US Forex brokers must be registered with NFA. All introducing Forex brokers in the US must also be registered with NFA.

Forex broker – RFED – Retail Foreign Exchange Dealer is required to submit the following to NFA:

1. Online Form 7-R
2. Documents:
– Financial statement,
– Anti-Money Laundering Procedures,
– Business Continuity and Disaster Recovery Procedures,
– Promotional Material Procedures,
– Supervision of Associated Persons Procedures,
– Customer Complaint Procedures,
– Source of Assets Letter, describing the source of the firm’s current assets

3. A non-refundable application fee of $500
4. Retail Foreign Exchange Dealer Membership Dues of $125,000

For a complete list of any additional other documents, please refer to:
http://www.nfa.futures.org/NFA-registration/rfed/index.HTML

US Forex brokers with high leverage?

All US brokers are required to provide leverage no higher that 50:1 according to 50:1 Leverage CFTC Rules. This leverage will be offered to all US residents without exception.
Non-US residents, who seek to open an account with the US based broker, might be able to get a higher leverage for their trading accounts. This option is often available when a broker has multiple branches around the globe.

Among such brokers are:

ATC Brokers – 200:1 leverage for non-US accounts
CitiFX Pro – 100:1 leverage for non-US accounts
CMS Forex – 100:1 leverage for non-US accounts
FastBrokers – 200:1 leverage for non-US accounts
FOREX.com – 200:1 leverage for non-US accounts

US Forex brokers vs other brokers

So, what’s the difference between US and other Forex brokers?

The two striking differences are:
– leverage options
– regulatory regime

US brokers offer a pretty low leverage 50:1 (NFA rules requirements) comparing to other brokers, who can shoot up to 1000:1 or higher with no consequences. This makes US brokers less competitive in the eyes of many novice traders, who generally need a larger leverage boost from the start.

Forex brokers in the US are among the most regulated brokers in the world. The regime and penalties by NFA are high and strict, thus no one essentially wants to go off the marked path. This fact certainly provides the highest level of trust to the US brokers.

Alternatives to US Forex brokers

Are there good alternatives to US Forex companies? Although traders won’t find better regulated Forex brokers than those in the United States, other countries to consider are: UK, Australia and Switzerland.

Continue reading about: NFA regulated Forex brokers

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