The Forex market operates twenty four hours in a day and provides trading in different currency pairs around the globe. Forex regulations were introduced through a recognizedstructure that ensures that financial intermediaries, like Forex brokers, fulfill the essential requirements to provide loss protection and controlled risk exposure to single traders.
If you’re living in the US and searching for the most trusted Forex brokers, you may know already that you have a very limited number of Forex brokers to choose from than you will have access if you are a foreign trader. US Forex brokers need to be licensed by the NFA or CFTC to be allowed to operator. They must fulfill strict regulations which are designed to ensure that US Forex traders fund are secured. NFA regulated brokers must not offer leverage above 50:1 and play according to the rule of the game as stipulated in the thorough record-keeping and reporting conditions.
All the same, there are a number of NFA regulated Forex brokers in the USA that provide the most trusted brokerage services and user-friendly platforms.You’ll also find within the country a few brokers that carry out their business operations without obtaining the necessary regulation. We’ve made our search and come up with reputable and most trusted Forex brokers in the US based on their trading platforms, customer service and user friendliness of their platforms. A few of them have been provided below to help you in your search for the most trusted NFA regulated Forexbroker.
Regulatory procedures in the US
All most trusted Forex brokers in the US Forex brokers together with introducing brokers need to be registered with the National Futures Association (NFA). NFA is a self-governing licensing body that offer the regulatory structure to maintain a transparent Forex market, integrity of purposes and actions and to ensure that the brokers that operate in the country fulfill the required regulatory responsibilities, as well as offering protection to a lot of market participants. The NFA as well provides an online verification system known as the Background Affiliation Status Information Center (BASIC), which helps to verify the regulatory approval and compliance of Forex brokerage firm in the US.
We have provided in this article a few of the most trusted broker in the USA in no particular order to make it easy for traders who are searching for the regulated brokers in the US.
FOREX.com provides traders with a lot of outstanding features like tight Forex spreads, real time trade executions, a mobile trading platform, and many technical research indicators in twenty different languages. Forex.com trading allows incorporation across MetaTrader 4 or FOREXTrader PRO platforms.
OANDA is a well known broker thatoffers competitive spreads to traders with no commissions and highmarket liquidity, together with OANDA Marketplace that comes with a lot of features for Forex traders like Forex tools, products, advanced analytical tools, Forex news, educational videos, and MT4 plugins from OANDA and related partners.
Zecco was not long ago bought by TradeKing and provides tight spreads of 1-2 pips, dynamic trader network, and many Forex trading platforms together with research, analysis tools, and streaming news. Their trading apps are well compatible with smartphones and tablets.
This brokerage offers STP Execution, No Dealing Desk, Scalping, Multiple Brackets Order, together with other risk management tools such as breakeven capacity, customized trailing stop-loss. These unique features offered by this brokerage make the company one of the most trusted Forex brokers in the US.
Another brokerage is thinkorswim which is operated by TD Ameritrade, Inc. is another popular US-regulated Forex broker, offering trading in more than 100 global currency pairs.
The Company has more than 20 years full-service brokerage introduction experience and provides the rebate program through a cash bonus for every trade order.
Apart from the above list, there are many more regulated brokerage firms that traders can explore for trading Forex: CMS Forex, Fortress Capital, Inc., FXDirectDealer, LLC (or FXDD), Lightspeed Trading, TradeStation Securities, among others.
The Bottom Line:
One great difficulty that brokers in the US face is the restriction on the amount leverage they can offer their traders. The US Forex regulators limit the amount of leverage they can offer to 50:1, while other brokers from the rest parts of the world can offer their traders leverage as high as 1000:1 leverage.