Forex Brokers Accepting US Clients in 2025

Updated April 2025

In most parts of the world, trading forex and contracts for difference are deemed the most accessible investment instruments. Across most of the world, retail investors can start trading on the forex market with as little as a few hundred dollars. Millions of people trade forex every day, and there are thousands of brokers catering to the demand. However, the situation is very different for traders seeking forex brokers accepting US clients.

Article Summary

Forex Brokers That Are Accepting US Clients
Retail Forex Brokers Registered in The USA
Offshore Brokers That Accept US Clients
Is Forex trading Legal in The United States?
Forex Regulations in The United States
Forex Trading Rules Followed by US Brokers

The forex trading industry in the United States is complicated. Many critics say the forex regulations in the United States are a clear case of over-regulation and it has led to the industry becoming stifled and uncompetitive.

The symptoms of the strict forex regulations in the US are exceedingly high compliance and financial barriers to running a brokerage business in the US, which caused many firms abandoning the market and prevented new ones from entering leading to consolidation. The enforcement of complex trading policies is unappealing to most traders.

When you think of the world’s leading financial centers, places like London, New York, Tokyo and Singapore spring to mind, although New York is a finance hub, it no longer has any significance in the world of trading FX. There are no noteworthy reasons why an average retail investor from Europe, or anywhere else, would be interested in opening a forex trading account with a US forex broker.

Forex Brokers That Are Accepting US Clients

US residents and citizens can open accounts with US-regulated brokers but face restrictions like low leverage (1:50), no hedging, and First-In-First-Out (FIFO) rules, which many traders find restrictive.

As a result, some seek offshore brokers willing to accept US clients, though this carries risks due to lighter or no regulation. We advise caution and recommend sticking with regulated brokers for fund safety.

Below are the eight US-regulated forex brokers accepting US clients in 2025, followed by notes on offshore options.

List of Forex Brokers Accepting US Clients

Broker Name: Forex.com

Broker Type	Market Maker
Regulations	NFA, CFTC, RFED, FCM
Min Deposit	$100.00
Account Base Currency	USD CAD GBP
Max Leverage	50:1
Trading Platforms	FOREXTrader, MetaTrader 4, MetaTrader 5, Web Trader FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826).

Broker Name: Oanda

Broker Type	Market Maker
Regulations	CFTC, NFA, FCA, ASIC, MAS, IIROC
Min Deposit	$0
Account Base Currency	AUD CAD EUR GBP HKD JYP SGD CHF USD
Max Leverage	50:1
Trading Platforms

OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC), and a Forex Dealer Member (FDM) of the National Futures Association (NFA # 0325821, which can be used to search for more information about OANDA using the NFA’s BASIC resource). Please refer to the OANDA Corporation Risk Disclaimer for details.

Broker Name: IG US

More Noteworthy US Forex Brokers

Interactive Brokers

Broker Name: Interactive Brokers
Broker Type: ECN
Regulations: CFTC, NFA, SEC, FINRA
Min Deposit: $0
Account Base Currency: USD, EUR, GBP, AUD, CAD, CHF, JPY
Max Leverage: 1:50
Trading Platforms: Trader Workstation (TWS), Web, Mobile
Details: Offers 150+ markets, including forex, with low commissions (e.g., $0.0001 x trade value on Ideal Pro account). Spreads are competitive but not the lowest. Advanced charting via TWS. Regulated by CFTC and NFA.
Website: Interactive Brokers

TD Ameritrade (Thinkorswim)

Broker Name: TD Ameritrade
Broker Type: Market Maker
Regulations: CFTC, NFA, SEC, FINRA
Min Deposit: $0
Account Base Currency: USD
Max Leverage: 1:50
Trading Platforms: Thinkorswim, Web, Mobile
Details: Acquired by Charles Schwab, TD Ameritrade’s Thinkorswim platform offers robust tools for forex and other assets. Spreads are mid-range. Regulated by CFTC and NFA.
Website: TD Ameritrade

Ally Invest

Broker Name: Ally Invest
Broker Type: Market Maker
Regulations: CFTC, NFA, SEC, FINRA
Min Deposit: $0
Account Base Currency: USD
Max Leverage: 1:50
Trading Platforms: Web, Mobile
Details: Offers forex alongside stocks and ETFs. Mid-range spreads and simple platform suited for beginners. Regulated by CFTC and NFA.
Website: Ally Invest

Tastyfx

Broker Name: Tastyfx
Broker Type: Market Maker
Regulations: CFTC, NFA
Min Deposit: $250
Account Base Currency: USD
Max Leverage: 1:50
Trading Platforms: Web, Mobile, MetaTrader 4
Details: A newer entrant, Tastyfx offers competitive spreads and a user-friendly platform. Regulated by CFTC and NFA.
Website: Tastyfx

Offshore Brokers That Accept US Clients

Offshore brokers like LMFX and FXChoice have historically accepted US clients, but their status has changed:

LMFX: Unregulated, based in St. Vincent and the Grenadines. Offers high leverage (up to 1:1000), low deposit ($50), and MetaTrader 4. Accepts USD, EUR, GBP, AUD, CAD, and crypto (Bitcoin, Ethereum, etc.). Risky due to lack of regulation; not recommended for US clients.
FXChoice: As of December 2023, FXChoice suspended trading services and stopped accepting new US clients. Existing US clients may still access limited account activities (e.g., withdrawals), but new accounts are not permitted.

Warning: Trading with unregulated offshore brokers is illegal for US citizens under the Dodd-Frank Act, which prohibits offshore brokers from accepting US clients unless they comply with CFTC/NFA regulations. Risks include lack of fund protection and potential legal consequences. We strongly recommend using regulated brokers.

Broker Name: LMFX

Broker Type	ECN
Regulations	UNREGULATED
Min Deposit	$50.00
Account Base Curreny	USD, EUR, GBP, AUD, CAD, Bitcoin, Gold, Bitcoin Cash, Litecoin, Ethereum and XRP
Max Leverage	1:1000
Trading Platforms	Metatrader 4, Web trader, Mobile app(MT4)

Is Forex trading Legal in The United States?

Many people wonder if forex trading is even legal in the US, and it’s a fair question. Although the regulations are completed, it’s most certainly legal to trade forex in the United States.

What often misleads people is that when you visit most forex and CFD brokers websites, you’ll probably see a notice in the footer of the website stating that they don’t accept US citizens or residents as clients.

In most of the world, leveraged forex trading and contracts for difference are often regulated under the same legislation and offered together by brokers.

However, CFDs are not allowed to be sold to retail investors in the United States. Any overseas broker selling CFDs to a US citizen would be violating federal laws and may be prosecuted by the SEC.

Because of the considerable risk involved in cooperating with US forex traders, many firms keep their distance.

Forex trading is legal in the United States, but it is heavily regulated. Confusion arises because many global brokers’ websites state they do not accept US clients due to regulatory restrictions. Unlike most countries, where forex and CFDs are regulated similarly, CFDs are banned for US retail investors. Offshore brokers offering CFDs to US citizens risk SEC prosecution, prompting many to avoid US clients entirely.

Forex Regulations in The United States

There are two primary organizations in the United States which are responsible for regulating and overseeing the forex market.

However, there are even more organizations for regulating other financial products and trading instruments in the US. Most countries only have one national competent authority to report to.

Two primary organizations regulate the US forex market:

Commodity Futures Trading Commission (CFTC): A federal agency overseeing forex brokers, requiring registration as Retail Foreign Exchange Dealers (RFEDs) or Futures Commission Merchants (FCMs).
National Futures Association (NFA): A self-regulatory organization (SRO) enforcing compliance with CFTC rules. All US forex brokers must be NFA members.

The Securities and Exchange Commission (SEC) oversees securities and SROs under the Securities Exchange Act of 1934 but has limited direct jurisdiction over forex, as currency pairs are not securities. The CFTC and NFA, empowered by the SEC, enforce strict rules stemming from the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010), which reshaped the industry post-2008 financial crisis.

Forex Trading Rules Followed by US Brokers

Forex brokers operating in the US are required to follow a number of very specific rules in terms of how the products are structured, which differ significantly from other countries, such as the UK, Australia, Europe and others.

Limitation on leverage

Although most financial regulators around the world have reviewed their stance on leverage, at the time, the US was one of the only countries which imposed strict limits on how much leverage brokers can give to traders. When trading with a US broker, you’re only able to get leverage up to 1:50 on major currency pairs and 1:20 on minor currency pairs^[4].

Pairs	Leverage
Major Pairs	1:50
Minor Pairs	1:20

Prohibition on hedging and FIFO offsetting

According to a rule implemented by the NFA in 2009, retail forex brokers must not allow their clients to hedge trades, which means they may not have long and short positions held concurrently.

In addition, if a trader chooses to have more than one position of the same currency pair, they cannot choose which position to close first, they are closed according to a First-in First-out rule^[5].

In Summary:

US-regulated brokers adhere to stringent rules, differing significantly from other jurisdictions (e.g., UK, Australia):

Leverage Limits: Maximum 1:50 for major currency pairs, 1:20 for minors, compared to higher leverage (e.g., 1:500) in some offshore jurisdictions.
No Hedging: NFA Rule 2-43 (2009) prohibits holding long and short positions simultaneously on the same currency pair.
FIFO Rule: Positions must be closed in the order they were opened (First-In-First-Out), limiting trading flexibility.
Capital Requirements: Brokers must maintain $20 million in capital, plus high compliance and NFA membership fees, deterring new entrants.
No CFDs: CFDs are banned for retail investors, restricting US brokers to forex and futures.

These rules, enforced by the CFTC and NFA, have reduced the number of US retail forex brokers from 52 in 2007 to eight in 2025, with high costs driving consolidation.

Conclusion

In 2025, eight US-regulated forex brokers accept US clients: FOREX.com, OANDA, IG US, ATC Brokers, Interactive Brokers, TD Ameritrade, Ally Invest, and Tastyfx.

These brokers comply with strict CFTC and NFA regulations, offering safety but limited leverage (1:50) and restrictive trading rules (no hedging, FIFO).

Offshore brokers like LMFX are unregulated and risky, while FXChoice no longer accepts new US clients. For safety and compliance, US traders should choose regulated brokers like OANDA or FOREX.com, which offer competitive spreads, robust platforms, and strong regulatory oversight.

About This Article

Author: Roslan Skarsgard – Roslan has worked for numerous forex brokers and investment firms in London, Cyprus, Malta & Singapore in various sales, marketing and operations roles.

Reviewed & Edited by: Mark Prosz

Sources of information and credits for this post include:

^[1] https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission

^[2] https://en.wikipedia.org/wiki/National_Futures_Association

^[3] https://www.investopedia.com/articles/forex/011515/top-usregulated-forex-brokers.asp

^[4] https://www.cftc.gov/sites/default/files/idc/groups/public/@newsroom/documents/file/forexfinalrulefactsheet.pdf

^[5] https://www.nfa.futures.org/rulebook/rules.aspx?Section=4&RuleID=RULE%202-43

^[6] https://www.cftc.gov/PressRoom/PressReleases/5883-10

^[7] https://www.financemagnates.com/forex/analysis/repealing-dodd-frank-trump-spark-global-deregulation-race/

^[8] https://financefeeds.com/cfd-regulation-global-impact-comprehensive-guide/

^[9] https://www.nfa.futures.org/registration-membership/membership-and-directories.html

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