Forex trading has increasingly gained popularity over the years, and as a result, there has been a surge in the number of forex brokers in the market. The forex market has become a lucrative business for many, and this has attracted both genuine and fraudulent brokers. As a forex trader in the US, it is essential to identify and use only reliable forex brokers. This article aims to identify the only reliable forex brokers in the US and explain why they are considered reliable.
Reliable forex brokers in the US are regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). These regulatory bodies were established to protect traders from fraudulent brokers and ensure that brokers operate under ethical standards. The NFA and CFTC have strict rules and regulations that forex brokers must adhere to, failure to which they risk losing their licenses.
One of the most reliable forex brokers in the US is Oanda. Oanda was established in 1996, and it is regulated by both the NFA and CFTC. Oanda is known for its transparent pricing, fast execution, and low spreads. Oanda has also won several awards for its excellent customer service, and it offers a wide range of trading instruments, including forex, CFDs, and metals. Oanda has also invested heavily in its trading platform, which is user-friendly and customizable to suit the needs of different traders.
Another reliable forex broker in the US is TD Ameritrade. TD Ameritrade was established in 1975, and it is also regulated by both the NFA and CFTC. TD Ameritrade is known for its advanced trading platform, Thinkorswim, which offers advanced charting tools and an extensive range of trading instruments. TD Ameritrade also has a mobile app that allows traders to trade on the go, and it offers excellent customer support.
Forex.com is also a reliable forex broker in the US. Forex.com was established in 2001, and it is regulated by both the NFA and CFTC. Forex.com offers a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. Forex.com also offers a user-friendly trading platform, and it has a mobile app that allows traders to trade on the go. Forex.com also offers excellent customer support, and it has a comprehensive education center that helps traders to improve their trading skills.
IG US is another reliable forex broker in the US. IG US was established in 2019 after the acquisition of the US arm of IG Group by Charles Schwab. IG US is regulated by both the NFA and CFTC, and it offers a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. IG US offers a user-friendly trading platform, and it has a mobile app that allows traders to trade on the go. IG US also offers excellent customer support, and it has a comprehensive education center that helps traders to improve their trading skills.
In conclusion, forex trading can be a profitable venture, but it is essential to use only reliable forex brokers. Reliable forex brokers in the US are regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). Oanda, TD Ameritrade, Forex.com, and IG US are some of the most reliable forex brokers in the US. These brokers offer excellent customer support, user-friendly trading platforms, and a wide range of trading instruments. As a forex trader in the US, it is essential to do your due diligence and choose a reliable forex broker that meets your trading needs.
