5 Best NFA-Regulated Forex Brokers
Last Update: July 23rd, 2024
The 5 best NFA Regulated Forex Brokers revealed. We have explored and tested several prominent Forex brokers to identify the listed 5 best-regulated brokers.
In this in-depth guide you’ll learn:
- What is an NFA-regulated Forex broker?
- Who are the best NFA-regulated Forex brokers?
- NFA regulated forex brokers list.
- Pros and cons of each broker
- Popular FAQs about NFA-regulated Forex brokers
And lots more…
So, if you’re ready to go “all in” with 5 best NFA-regulated Forex brokers…
Let’s dive right in…
5 Best NFA-Regulated Forex Brokers in the USA (2024*)
- ☑️Interactive Brokers – Overall, Best NFA Regulated Forex Broker.
- ☑️OANDA – Offers competitive pricing.
- ☑️IG US – Is an Over-the-Counter derivatives broker.
- ☑️Forex.com – Have a diverse range of trading instruments.
- ☑️TD Ameritrade – Providing reliable financial services.
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
What is an NFA-regulated Forex broker?
NFA regulated Forex brokers are brokers that are required to operate within the regulatory framework set by the National Futures Association (NFA) in the United States. This designation requires adherence to stringent standards regarding financial transparency and fair-trading practices in the foreign exchange market.
The 5 Best NFA-Regulated Forex Brokers
| 🔎 Broker | 👉 Open Account | 💻Account Types | 💰Minimum Deposit | 💻 Demo Account |
| Interactive Brokers | 👉 Open Account | Individual, Joint, Trust, IRA, UGMA/UTMA, Advisor, Institutional | Varies by account type and country | ✅ |
| OANDA | 👉 Open Account | Standard, Core, Swap-Free, Premium, Premium Core | From 0 USD | ✅ |
| IG US | 👉 Open Account | Standard | From 250 USD | ✅ |
| Forex.com | 👉 Open Account | Standard Account, Commission Account, DMA | From 100 USD | ✅ |
| TD Ameritrade | 👉 Open Account | Individual, Joint, Traditional IRA, Roth IRA, SEP IRA and rollover IRA account, Custodial Account, Trust Account. | From 0 USD | ✅ |
Interactive Brokers
Overview
Interactive Brokers stands out as reputable NFA-regulated Forex brokers due to several key factors. Firstly, as a well-established brokerage with a strong track record since its founding in 1978, Interactive Brokers has garnered trust and confidence among traders globally.
Their NFA regulation ensures compliance with stringent standards regarding financial transparency, client fund protection, and fair-trading practices.
Moreover, Interactive Brokers offers competitive pricing with low commissions and tight spreads, making it attractive for active traders. Their advanced trading platforms provide comprehensive tools and functionalities for executing trades efficiently and managing risk effectively.
Additionally, Interactive Brokers offers a wide range of financial instruments beyond Forex, including stocks, options, futures, and bonds, allowing for diversified trading strategies under one platform.
Furthermore, Interactive Brokers’ robust technology infrastructure ensures reliable execution and minimal downtime, crucial for traders operating in fast-paced Forex markets.
Overall, their combination of regulatory adherence, competitive pricing, advanced technology, and diverse offerings makes Interactive Brokers a top choice for traders seeking a trustworthy NFA regulated Forex broker.
Unique Features
| Feature | Information |
| 🏛️ Regulation | SEC, CFTC, FCA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Individual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack |
| 📊 Trading Platforms | IBKR |
| 💰 Minimum Deposit | No specific minimum deposit required. |
| 📉 Trading Assets | Global Stocks, options, futures, currencies, cryptocurrencies |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️Yes (except for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ❌ No |
| 👉 Open Account | 👉 Open Account |
Interactive Brokers Pros and Cons
| ✅ Pros | ❌ Cons |
| Extensive range of financial instruments including stocks, options, futures, Forex, bonds, and more. | Complex fee structure that may be confusing for some traders. |
| Direct market access (DMA) providing transparent and efficient trading execution. | Higher minimum deposit requirements compared to some other brokers. |
| Competitive pricing with low commissions and margin rates. | Steeper learning curve for beginners due to the advanced trading tools and features. |
| Powerful trading platforms such as Trader Workstation (TWS) and IBKR Mobile, offering advanced tools and analytics. | Limited customer support options, primarily through email and chat. |
| Global presence with access to over 135 markets in 33 countries. | Inactivity fees on dormant accounts. |
Trust Score
Interactive Brokers has a trust score of 95%.
OANDA
Overview
The broker emerges as a reputable Forex broker regulated by the NFA for several compelling reasons. As an industry veteran founded in 1996, OANDA has established itself as a trusted name in the Forex market, garnering a strong reputation for reliability and integrity.
NFA regulation ensures that OANDA adheres to strict standards of financial transparency, client fund protection, and fair-trading practices, instilling confidence among traders.
OANDA offers competitive pricing with tight spreads and transparent fee structures, making it appealing for both novice and experienced traders.
Their user-friendly trading platforms provide comprehensive tools and educational resources, empowering traders to make informed decisions.
It’s commitment to innovation is evident through their advanced trading technology, including algorithmic trading capabilities and risk management tools.
Their exceptional customer service, with multilingual support and personalized assistance, enhances the overall trading experience for clients.
In summary, OANDA’s NFA regulation, competitive pricing, advanced technology, educational resources, and customer service make it a top choice for traders seeking a reliable Forex broker.
Unique Features
| 🔍 Feature | ℹ️ Information |
| ⌛Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, CFTC |
| 📱Social Media Platforms | Facebook YouTube |
| 🗂️Trading Accounts | Standard Account Core Account Swap-Free Account Demo Account |
| 📊Trading Platform | MetaTrader 4 OANDA Platform TradingView |
| 💵Minimum Deposit in USD | There is no specific minimum deposit required |
| 🛢️Trading Assets | Index CFDs Forex Metals Commodity CFDs Bonds CFDs Precious Metals Real-time Rates |
| 💵USD-based Account? | ✅ Yes |
| 💶USD Deposits Allowed? | ✅ Yes |
| 🎁 Bonuses for Traders | ✅ Yes (except in the US, as per US regulation) |
| 📝Minimum spread | From 0.0 pips |
| ✏️Demo Account | ✅ Yes |
| ☪️Islamic Account | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
OANDA Pros and Cons
| ✅ Pros | ❌ Cons |
| OANDA provides its users with the capability to trade positions of any size, which allows for accurate risk management and accommodates traders with different amounts of capital. | Although OANDA offers a wide selection of currency pairs, its selection of other financial instruments, including equities and commodities, may be comparatively restricted in comparison to other brokers. This may impose constraints on the trading options available to specific investors. |
| By eliminating the requirement for a minimum deposit, OANDA enables traders to establish an account without constraining its accessibility to those with limited initial capital. | OANDA enforces minimum trade sizes for specific instruments, which might surpass those provided by alternative brokers. This could potentially restrict the flexibility of traders who maintain lesser trading accounts. |
| OANDA's 'Core Pricing + Commission' model guarantees traders transparent pricing by employing commissions per transaction and maintaining razor-thin spreads. This structure guarantees that traders are fully informed about the expenses associated with their trades. | Despite providing rudimentary research and analysis tools, OANDA's selection may be comparatively limited in scope when contrasted with other brokers, potentially discouraging traders from pursuing more comprehensive market insights and analysis. |
| Among the risk management tools provided by OANDA are trailing stops and guaranteed stop-loss orders, which aid traders in preventing losses and safeguarding profits. | During periods characterized by significant market volatility, OANDA's spreads have the potential to expand, which could result in increased trading expenses for traders. |
| fxTrade, the proprietary trading platform of OANDA, has garnered multiple accolades due to its intuitive interface, sophisticated charting capabilities, and customizable attributes—all of which contribute to a seamless trading experience for users. | Although OANDA provides customer support via multiple channels (e.g., email and phone), weekend and non-trading hour support may be scarce, potentially resulting in delays in the provision of assistance. |
Trust Score
OANDA has a trust score of 91%.
IG US
Overview
IG US, an NFA regulated Forex broker, offers a compelling combination of attributes that make it an excellent choice for traders.
They boast a long-standing reputation in the financial industry, with parent company IG Group having been established in 1974. This extensive experience instils trust and confidence among traders.
With 80+ forex pairs, MetaTrader 4 compatibility, and various promotional opportunities for its customers, IG offers traders an excellent way to explore forex markets.
Their intuitive trading platforms are equipped with advanced charting tools, analysis resources, and risk management features, catering to both novice and experienced traders alike.
They distinguish themself through competitive pricing with tight spreads and $0 commissions*, ensuring cost-effective trading. Additionally, IG’s commitment to customer service is evident through responsive support channels and educational materials, further enhancing the trading experience.
The broker’s extensive experience, diverse offerings, advanced technology, competitive pricing, and customer-centric approach position it as an excellent Forex broker for traders seeking reliability and performance.
**IG US does not charge commissions; your cost is the bid-ask spread to execute a trade. IG US is compensated through an intragroup hedging arrangement with its affiliate, IG Markets Ltd.
Unique Features
| Feature | Information |
| 🏛️ Regulation | NFA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Standard Account Demo Account |
| 📊 Trading Platforms | MetaTrader 4 ProRealTime |
| 💰 Minimum Deposit | $250 |
| 📉 Trading Assets | Forex |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.8 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
IG Pros and Cons
| ✅ Pros | ❌ Cons |
| Controlled by respectable regulator in the United States, fostering confidence and a sense of security. | In comparison to other brokers, some traders could feel the fees and charges to be somewhat excessive. |
| Effective cost management is facilitated by traders' use of transparent fee policies and competitive commission arrangements. | Restricted access to specific markets or assets in contrast to brokers with specialised knowledge. |
| Efficient trade execution and decision-making are facilitated by trading platforms that are easy to use and furnished with sophisticated tools and analytical features. | Novice traders may find it difficult to understand complex pricing structures. |
| Enormous customer care via many channels guarantees traders receive timely support and direction. | There may be dangers associated with using leverage options and margin requirements for some traders. |
| During high trade hours, customer service response times may be delayed, which could impact the availability of immediate support. |
Trust Score
IG has a very high trust score of 99%.
Forex.com
Overview
As a subsidiary of GAIN Capital Group LLC, a well-established financial services provider, Forex.com benefits from the company’s extensive industry experience and reputation for reliability. NFA regulation ensures that Forex.com adheres to strict standards regarding financial transparency, client fund protection, and fair-trading practices, fostering trust among traders.
They offer a diverse range of trading instruments, including Forex pairs, commodities, indices, and cryptocurrencies, providing ample opportunities for portfolio diversification. Their user-friendly trading platforms are equipped with advanced charting tools, technical analysis capabilities, and risk management features, catering to traders of all skill levels.
The broker distinguishes itself through competitive pricing with tight spreads and transparent fee structures, ensuring cost-effective trading. Additionally, their commitment to customer support is evident through responsive service channels and educational resources, enhancing the overall trading experience.
Overall, Forex.com NFA regulation, industry experience, diverse offerings, advanced technology, competitive pricing, and customer-centric approach make it a commendable choice for traders seeking a reliable and reputable Forex broker.
Unique Features
| Feature | Information |
| 🏛️ Regulation | IIROC, ASIC, CIRO, CIMA, SFC, FSA, MAS, FCA, NFA, CFTC |
| 📲 Social Media Platforms | LinkedIn YouTube X |
| 💻 Trading Accounts | Standard Account, Meta Trader Account, RAW Spread Account |
| 📊 Trading Platforms | Mobile App, WebTrader, MetaTrader 5, TradingView |
| 💰 Minimum Deposit | $100 |
| 📉 Trading Assets | Forex, Indices, Stocks, Cryptocurrency, Commodities, Gold and Silver |
| 💲 USD-based Account? | No |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | No |
| 📈 Minimum spread | From 0.6 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 🏛️ IIROC Regulation | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
Forex.com Pros and Cons
| ✅ Pros | ❌ Cons |
| Tight spreads across a variety of currency pairs | There are no strong incentives for high-volume trading |
| There are multiple trading platforms | The demo account expires after 90 days |
| Strong educational support for traders | Platform options can be challenging to browse |
| Competitive price and a straightforward fee structure | Aside from Forex, there are limited product options |
| An extensive toolkit for analyzing and trading | If you do not trade consistently, you will incur an inactivity fee |
Trust Score
Forex.com has a very high trust score of 90%.
TD Ameritrade
Overview
TD Ameritrade, as an NFA regulated Forex broker, offers several compelling reasons for traders to consider its services.
The broker is a well-established brokerage with a long history of providing reliable financial services to clients. As an NFA-regulated entity, TD Ameritrade adheres to strict standards of financial transparency and client protection, instilling trust and confidence among traders.
This robust trading platform, thinkorswim, offers a comprehensive suite of tools and features tailored for Forex trading, including advanced charting capabilities, technical analysis tools, and customizable trading strategies. This platform caters to both novice and experienced traders, providing a seamless and intuitive trading experience.
They provide access to a wide range of Forex pairs, allowing traders to diversify their portfolios and capitalize on various market opportunities.
Combined with competitive pricing and transparent fee structures, TD Ameritrade emerges as a strong choice for traders seeking a reputable NFA regulated Forex broker with comprehensive trading tools and reliable services.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FINRA (Financial Industry Regulatory Authority), SEC (Securities and Exchange Commission) |
| 📲 Social Media Platforms | Instagram You Tube |
| 💻 Trading Accounts | Individual, Joint, IRA, Roth IRA, Custodial, Trust |
| 📊 Trading Platforms | thinkorswim® desktop, thinkorswim® mobile, webTrader |
| 💰 Minimum Deposit | $0 (USD) |
| 📉 Trading Assets | Stocks, ETFs, Options, Futures, Forex (limited selection) |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | No |
| 👉 Open Account | 👉 Open Account |
TD Ameritrade Pros and Cons
| ✅ Pros | ❌ Cons |
| TD Ameritrade offers access to stocks, ETFs, options, mutual funds, bonds, futures, and currency, catering to a wide range of trading styles and risk appetites | Although sophisticated, the thinkorswim tool has a high learning curve that new traders may find intimidating |
| Advanced traders will benefit from the well-known thinkorswim platform, while beginners will find the simple online platform and mobile app user-friendly | TD Ameritrade's margin rates may be less competitive than those of rival brokers for margin traders |
| The platform provides a variety of retirement account alternatives (traditional, Roth, and rollover IRAs), as well as regular brokerage accounts and speciality products | The platform does not allow for the purchase of fractional shares, making it less accessible to individuals investing lesser sums |
| Because there are no minimum deposit restrictions, TD Ameritrade is open to investors of all sizes | While stock and ETF trading is commission-free, costs for bonds, mutual funds, futures, and some options transactions may be more complex |
| TD Ameritrade typically obtains great scores for their 24-hour customer assistance by phone, email, and live chat | Clients can primarily trade US and Canadian-listed stocks |
| Clients can trade stocks, ETFs, and a wide range of options contracts without paying a fee | TD Ameritrade does not allow direct trading of cryptocurrencies such as Bitcoin and Ethereum |
| Investors of all levels have access to webinars, articles, videos, and courses that will help them improve their financial knowledge and trading skills | |
| TD Ameritrade provides in-depth market data, analyst reports, third-party insights, and instructional resources to help traders make educated decisions |
Trust Score
TD Ameritrade has a very high trust score of 90%.
Conclusion
Overall, choosing the best NFA-regulated Forex broker involves considering various factors such as regulatory compliance, trading platforms, pricing, customer service, and available products. Each trader’s preferences and requirements differ, so thorough research and careful evaluation are essential to find the broker that best suits individual needs.
Frequently Asked Questions
What is the NFA?
The National Futures Association (NFA) is a self-regulatory organization overseeing the U.S. derivatives industry, including Forex brokers. It ensures compliance with regulatory standards, promotes market integrity, and protects investors’ interests, fostering trust and transparency in Forex trading.
What are the benefits of trading with NFA-regulated Forex brokers?
Trading with an NFA-regulated broker ensures adherence to strict regulatory standards, including financial transparency, client fund protection, and fair trading practices. This offers investors greater confidence, security, and recourse in case of disputes or misconduct, enhancing the overall trading experience.
How can I verify if a Forex broker is regulated by the NFA?
You can verify a Forex broker’s NFA regulation status by checking the NFA’s official website or using their online registration system, known as BASIC (Background Affiliation Status Information Centre). Simply input the broker’s name or registration number to confirm its regulatory status.
Are there any limitations or restrictions?
NFA regulations impose certain restrictions on Forex trading, such as leverage limits, margin requirements, and compliance with anti-money laundering (AML) regulations. Additionally, NFA-regulated brokers must adhere to strict rules regarding promotional activities, advertising, and client communications.
Do NFA-regulated Forex brokers offer investor protection?
Yes, NFA-regulated brokers are required to adhere to stringent regulations aimed at protecting investors’ interests. These regulations include segregation of client funds, regular audits, financial reporting, and participation in a compensation scheme in case of broker insolvency, providing investors with a layer of security and recourse.
The National Futures Association (NFA) is a self-regulatory organization overseeing the U.S. derivatives industry, including Forex brokers. It ensures compliance with regulatory standards, promotes market integrity, and protects investors’ interests, fostering trust and transparency in Forex trading.
Trading with an NFA-regulated broker ensures adherence to strict regulatory standards, including financial transparency, client fund protection, and fair trading practices. This offers investors greater confidence, security, and recourse in case of disputes or misconduct, enhancing the overall trading experience.
You can verify a Forex broker’s NFA regulation status by checking the NFA’s official website or using their online registration system, known as BASIC (Background Affiliation Status Information Centre). Simply input the broker’s name or registration number to confirm its regulatory status.
NFA regulations impose certain restrictions on Forex trading, such as leverage limits, margin requirements, and compliance with anti-money laundering (AML) regulations. Additionally, NFA-regulated brokers must adhere to strict rules regarding promotional activities, advertising, and client communications.
Yes, NFA-regulated brokers are required to adhere to stringent regulations aimed at protecting investors’ interests. These regulations include segregation of client funds, regular audits, financial reporting, and participation in a compensation scheme in case of broker insolvency, providing investors with a layer of security and recourse.
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