Forex brokers for US Traders
As many U.S. traders know, just a few Forex brokers have the authorization to offer their services to customers in the United States. Due to strict regulations that have imposed by the financial regulatory authorities of that country, most brokers that offer their services to trade in the Foreign Exchange market to customers virtually around the world are not allowed to do the same in the United States because most of these companies do not meet all the standards that are common for example, for stock brokers.
The US authorities have imposed a restriction that limits the leverage that these companies can offer to only 1:50 (for U.S. customers), so some brokers already operating in that country had to move their operations to another countries such Australia or Cyprus for example in order to continue providing the same service. An example of this is the broker IBFX that recently opened IBFX Australia, which offers the same maximum leverage of 1:400.
A Forex broker that operates in the United States must be registered and comply with the regulations of the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commision) which ensures that meet a set of fundamental requirements that have the great advantage that will ensure the customer a better service, security of funds when investing in opening a trading account and legal support. Thus, the client may have greater security when operating with a broker of these when compared with some brokers from other countries whose modus operandi is somewhat dubious. In summary, a customer having a problem with a broker with permission to operate in the United States has at least one opportunity to complain to some authority that could resolve the problem.
Likewise, a Forex broker regulated in the United States must have a minimum of capital to enable it to fulfill its functions as an intermediary between customers and the market itself. In short, a broker of such category must be a company that should be fully established and completely legal. Therefore, if you are a resident of the United States and is interested in trading with a Forex broker authorized to accept U.S. customers, you can consult the following list:
List brokers that accept U.S. customers
|Company||Country of origin||Trading Instruments|
|FXCM||United States, UK and Australia|
|PFGBest Forex||United States|
|ADM Derivatives||United States|
|ATC Brokers||United States|
|Interactive Brokers||United States and other countries|
|Gain Capital||United States|
|Fast Brokers||United States|
|MVP Financial||United States|
|CMS Forex||United States|
*Contracts For Difference – this derivatives are for clients outside United States