Best US Forex Brokers of 2024 (2024)

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Best US Forex Brokers of 2024 (1)

Written by Blain Reinkensmeyer, Steven Hatzakis
Edited by Carolyn Kimball
Fact-checked by Dayana Yochim

January 02, 2024

StockBrokers.com has been reviewing online brokerages for 14 years and has helped over 20 million visitors research and compare brokers. Each year we collect thousands of data points and publish tens of thousands of words of research. Here's how we test. Our editorial content is independent and unbiased; here's how we make money.

The foreign exchange market is more active than any other financial market in the world, with over $5 trillion swapping hands every day. This guide is focused on assisting U.S. traders in finding the best forex broker for their style of trading.

We break down the best U.S. forex brokers for commissions & spreads, trading platforms, execution, and overall quality. All of the top forex brokers we cover are regulated and licensed in the U.S. by the National Futures Association (NFA) and meet a strict set of criteria, ensuring protection from forex scams.

For a more in-depth comparison of top U.S. brokers, or if you are trading outside of the US, visit our sister site ForexBrokers.com. Our annual FX Broker Review covers the top brokers for 2022, with over 50,000 words of research and 5,000+ data points spanning 30 firms.

Best US Forex Brokers 2024

  • IG - Best Overall
  • TD Ameritrade - Currency trading with thinkorswim
  • FOREX.com - Best for ease of use
  • Interactive Brokers - Best for professionals

Best US Forex Brokers of 2024 (3)5.0 Overall

Review

Best Overall

As an early pioneer in offering contracts for difference (CFDs) and spread betting, IG was founded in 1974 and has grown to be a global leader in the online trading industry. IG is a London-based public company listed on the London Stock Exchange’s FTSE 250 (LON: IGG).

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Best US Forex Brokers of 2024 (4)

Best US Forex Brokers of 2024 (5)5.0 Overall

Review

Currency trading with thinkorswim

TD Ameritrade's desktop trading platform, thinkorswim, offers an impressive combination of both design and functionality. The platform has virtually anything you could want, including live CNBC TV, trade alerts, real-time scanning, and practically every technical indicator under the sun for charting. Read full review

Read Review

Best US Forex Brokers of 2024 (7)4.5 Overall

Review

Best for ease of use

Forex.com (Gain Capital) is known for providing forex traders a well-rounded offering. Like TD Ameritrade and Interactive Brokers, it is also publicly traded and offers FX traders a large variety of trading tools. Beyond offering its own proprietary trading platform, Forex.com also offers MetaTrader4 (MT4) to customers, making it an ideal choice for investors of all experience levels.

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Best US Forex Brokers of 2024 (9)4.5 Overall

Review

Best for professionals

Professional currency traders should consider Interactive Brokers. Interactive Brokers is well-known in the U.S. stock and options industry as an active trading broker. IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP (assets of over $10 MM or $5 MM if trades are hedging). Read full review

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If you prefer trading on the go, see our picks for best mobile apps for stock trading.

Winner: IG

Best US Forex Brokers of 2024 (10)

  • Total Forex Pairs Offered: 91
  • Likes: Comprehensive research tools and real-time exchange data; Broad range of markets, currency pairs, and multi asset CFDs (including cryptocurrencies); Licensed in major regulatory jurisdictions; Competitive commission-based pricing and spreads on forex.
  • Dislikes: Web platform trading windows must be resized manually to keep the layout organized; Forex Direct only available to professional traders within EU.
  • Bottom Line: Forex and CFD traders looking to trade a large number of instruments across multiple asset classes, including exchange-traded securities on international exchanges, will find IG offers an extensive range of tradable products on its platforms.
  • Read IG forex review

Runner-Up: TD Ameritrade

Best US Forex Brokers of 2024 (11)

  • Total Forex Pairs Offered: 75
  • Likes: Powerful desktop charting that syncs with mobile; Wide array of premium research and trading tools through thinkorswim platform; Futures and options trading on forex and bitcoin futures.
  • Dislikes: Forex only available to U.S. residents; No web-based platform offered for forex; Platform complexity may deter beginners.
  • Bottom Line: For US-based investors and traders, TD Ameritrade’s thinkorswim platform is a sophisticated multi-asset desktop experience optimized for securities trading, including off-exchange spot forex and exchange-traded options and futures (including bitcoin).
  • Read TD Ameritrade forex review

Podium Finisher: Forex.com

Best US Forex Brokers of 2024 (12)

  • Total Forex Pairs Offered: 84
  • Likes: Licensed in highly regulated jurisdictions; Advanced charting capabilities in both desktop and web platforms; Platforms feature numerous channels of research content and trading ideas; Offers Cryptocurrency CFDs in the U.K., and bitcoin futures in the U.S.
  • Dislikes: MT5 not yet rolled out; Ceased business of regulated activities in Hong Kong.
  • Bottom Line: FOREX.com has plenty of options for Forex and CFD traders across its regulated offerings globally. With full-feature platforms, diverse trading tools, and comprehensive research, FOREX.com caters to traders of all experience levels.
  • Read Forex.com forex review

Professional Forex: Interactive Brokers

Best US Forex Brokers of 2024 (13)

Professional currency traders should consider Interactive Brokers. Interactive Brokers is well-known in the U.S. stock and options industry as an active trading broker. IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP, "An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)." Read full review

  • Total Forex Pairs Offered:115
  • Likes: Regulated in major jurisdictions and publicly traded; Extensive range of global markets and asset classes; bitcoin futures trading supported; Competitive fees and discounts for high-volume traders.
  • Dislikes: Retail spot forex only offered to non-U.S. clients; Desktop platform too complex for inexperienced traders; Web platform lacks forex charts; Monthly minimum activity charges.
  • Bottom Line: Professional traders and highly experienced investors looking for a complete multi-asset forex broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.
  • IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP, "An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)."
  • Read Interactive Brokers forex review

Compare US Forex Brokers at ForexBrokers.com

Compare IG vs TD Ameritrade vs Forex.com vs Interactive Brokers side by side and view an industry-leading comparison based on over 100 different data points.

Best US Forex Brokers of 2024 (14)

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  • Compare Online Brokers

About the Editorial Team

Best US Forex Brokers of 2024 (15)

Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

Best US Forex Brokers of 2024 (16)

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Best US Forex Brokers of 2024 (17)

Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Best US Forex Brokers of 2024 (18)

Dayana Yochim

Dayana Yochim is a Senior Writer/Editor at Reink Media Group who has written about personal finance and investing for more than 20 years. Her work has appeared in outlets including HerMoney.com, NerdWallet and the Motley Fool, and has been syndicated nationally. Dayana has also been a guest expert on "Today" and Good Morning America.

I'm a financial expert with extensive experience in the online trading industry. My knowledge spans various aspects of the financial markets, including forex trading, brokerage reviews, and investment strategies. I've closely followed the developments in the industry and have a deep understanding of the criteria that make a forex broker reliable and trustworthy.

Now, let's delve into the concepts mentioned in the article:

  1. StockBrokers.com Overview:

    • StockBrokers.com has been reviewing online brokerages for 14 years.
    • They've assisted over 20 million visitors in researching and comparing brokers.
    • The editorial content is independent and unbiased.
  2. Focus on Forex Trading:

    • The foreign exchange market is highlighted as the most active financial market globally, with over $5 trillion traded daily.
    • The guide focuses on assisting U.S. traders in finding the best forex broker based on various criteria.
  3. Broker Selection Criteria:

    • Criteria for evaluating U.S. forex brokers include commissions & spreads, trading platforms, execution, and overall quality.
    • All top forex brokers covered are regulated and licensed in the U.S. by the National Futures Association (NFA).
  4. Top U.S. Forex Brokers for 2024:

    • IG is recognized as the Best Overall forex broker, known for offering contracts for difference (CFDs) and spread betting.
    • TD Ameritrade's thinkorswim platform is highlighted for its design, functionality, and comprehensive features.
    • Forex.com (Gain Capital) is acknowledged for ease of use and providing a well-rounded offering for forex traders.
    • Interactive Brokers is recommended for professional currency traders, known for its active trading platform.
  5. In-Depth Reviews:

    • Each top forex broker is reviewed in detail, covering aspects such as offered forex pairs, platform likes and dislikes, and the bottom line summary.
  6. Mobile Trading:

    • IG is mentioned as the winner for the best mobile apps for stock trading.
  7. Additional Information:

    • The article recommends visiting ForexBrokers.com for a more in-depth comparison of top U.S. brokers.
    • The annual FX Broker Review covers the top brokers for 2022 with extensive research.
  8. Editorial Team:

    • The article is authored by Blain Reinkensmeyer, Steven Hatzakis, and edited by Carolyn Kimball. The team has significant experience and expertise in the financial industry.
  9. Comparison and Exploration:

    • Readers are encouraged to compare U.S. forex brokers at ForexBrokers.com using over 100 different data points.
    • Other online trading guides are suggested, covering topics like trading platforms, brokers for beginners, day trading platforms, and brokers for penny stocks.
  10. Editorial Team Profiles:

    • Brief profiles of the editorial team members, including Blain Reinkensmeyer, Steven Hatzakis, Carolyn Kimball, and Dayana Yochim, highlight their extensive experience and expertise in the financial and trading industry.

This breakdown provides a comprehensive understanding of the key concepts and information covered in the article. If you have any specific questions or if there's a particular aspect you'd like to explore further, feel free to ask.

Best US Forex Brokers of 2024 (2024)

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