Introduction:
There are hundreds of online
forex trading sites that list bare-bones information about themselves with
little guidance on how to select the right one. One aspect that is often left
out is what type of trade would be best suited to each broker, leaving you with
little to go on when deciding who to trade with. I wanted to provide you with a
list of forex brokers that I have personally tested and can vouch for.
List of US Forex Brokers
As you know forex brokers in the USA
have become essential for retail foreign exchange traders, offering both access
to the market and services that provide opportunities to new and old customers.
Providing access to exchange and investment products, US brokers operate
under heavy scrutiny and are constantly being monitored by the US regulatory
agencies.
In the United States, there are many
rules that a broker must follow in order to accept US residents as customers.
These rules strictly limit leverage, restrict access to exotic currency pairs,
and require traders to invest at least $25,000.
In this review, we look at the best
US forex brokers. We feature brokers that provide their clients with a variety
of trading tools and services. We also highlight some of the best combinations
of costs and features for novice traders like educational materials and low
initial deposit requirements.
1)
Best
Overall Forex Broker: FOREX.com
2)
Best
Forex Broker for Ease of Use: IG
3)
Best
Forex Broker for Beginners: FOREX.com
4)
Best
Forex Broker for Advanced Traders: Interactive Brokers
Conclusion:
So what we have above is a list
of some of the best forex brokerages in the USA, Canada, UK, and Australia
that offer low spreads and lots of leverage. With so much choice, it may not be
easy to decide on which one is for you so make sure you do your due diligence
carefully. When choosing a forex trading strategy, make sure that you take into
account how spread or the bid/ask will affect the outcome when the trade is
opened. You might want to try out a few different strategies with a demo
account before actually committing any real funds so you can see for yourself
which one works best for you.
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