On the other hand, some of the offshore countries have no regulation whatsoever which increases the possibility of the forex broker being a scammer.

They may make use of certain platform plugins in order to manipulate the order execution time, spreads and slippage. You may also have a hard time when you try to withdraw your funds , let alone the profit since the unregulated brokers are aware that there is no authority body in the offshore country that will go after them for their wrongdoings.

The capital requirements for founding a forex broker in the offshore countries are lower than for founding a broker in onshore countries such as the US, UK, Australia, Germany, Cyprus, etc…. Therefore, it is highly likely that onshore forex brokers have a stronger financial outlook compared to the offshore forex brokers.

I had heard about Paxforex and decided to give them a try. I have to admit that at first, I was worried about opening an account here. After a few months of successful trading, I took my profit in just a couple of days! I was amazed because in my experience no other broker has ever withdrawn so quickly. Maybe one day I will find another broker with better conditions or service, but at the moment they impressed me.

I can only say good things about Paxforex. The guys work diligently, the money is withdrawn, and this is the main thing. I have used about 10 brokers in the past and whilst some are decent, most are dishonest.

This comes with experience when looking for an honest and transparent broker. com is one of the honest brokers. Definitely the best broker and the first one I trust. Paxforex is a good brokerage company. During the time I have been working with them, I have not noticed anything negative. The terminal works well, the analytics are up-to-date, the information is updated on time.

With the withdrawal of money, I had no problems, applications are processed quickly. I can safely recommend this broker. My friend recommended me PaxForex about half of year ago. I opened an account and since then, I am here. I like here all, but especially good is their blog. I find there all latest information about events that influence the financial market. This is an amazing source for me, as I use fundamental analysis for trading.

I am very satisfied with this broker. Great broker with a good trading platform, reasonable trading conditions, and friendly customer support. Highly… I recommend forex. One of the best blog i have ever discovered about Forex companies for US citizens. I go with Paxforex btw, thanks guys. I wanted to thank you for this fantastic read!!

I absolutely loved every bit of it. I have got you bookmarked to check out new stuff you post…. Does FX Choice Trading work with such clients? I blog frequently and I really thank you for your content. The article has truly peaked my interest. I am going to book mark your website and keep checking for new information about once a week. I opted in for your RSS feed too. Save my name, email, and website in this browser for the next time I comment. ECN Account has exact same specifications with Fixed Account other than spreads.

Spreads could go as low as 0. AAFX Trading offers customer support in many languages including Arabic, Chinese, Czech, Croatian, Danish, Dutch, English, French, German, Greek, Indonesian, Indian, Italian, Irish, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu and Vietnamese.

There is Live Chat feature on the web site where you can get accurate and quick answers to your inquiries. Another important point about AAFX Trading is that the Company is one of the rare off-shore forex brokers that accept clients from the US as I mentioned at the introduction of the review. MetaTrader 4 is the trading platform that AAFX Trading offers to its clients.

In addition to PC desktop version, MetaTrader 4 for MAC, MetaTrader Web and MetaTrader Mobile are also provided by request. MetaTrader 4 is the most commonly used trading platform that comes with a huge bag of trading, charting and monitoring features such as Expert Advisors, Technical Indicators and 9 different timeframes.

AAFX Trading doesnt only provides the trading platform but also offers informative tutorials for the novice traders who have not used MetaTrader 4 before. AAFX Trading clients can use eight different methods for depositing and withdrawaing money. These methods are Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin.

I should point out that there are not too many forex brokers that offer Bitcoin as deposit and withdrawal method. Even though, international wire transfer and credit card are my two favorites for financial transactions with forex brokers, having Bitcoin as an option is a big plus.

FxGlory was founded in and is registered in St. Vincent and the Grenadines which is a popular destination for online forex and CFD brokers. The Broker is not regulated by any financial watchdog which means that there is not any authority that oversees the financial services offered by FxGlory.

FxGlory provides 4 different types of trading accounts to cater for its diversified clientele base. These account types are Standard Account, Premium Account, VIP Account and CIP Account. The clients get the same fixed spreads and high leverage on Standard and Premium accounts. Micro lots are only offered on Standard accounts.

On the other hand, VIP and CIP accounts come with lower leverage compared to Standard and Premium accounts but also with lower trading fees. Local customer support is available for 6 countries in their native languages. Clients can reach the support team vio email, web contact form, live chat and phone. FxGlory provides the MetaTrader 4 trading platform to its clients for free. Because of its reliability and execution speed, the MT4 has always been popular among traders and forex brokers.

FxGlory clients can deposit and withdraw funds through an abundance of methods. LMFX is an offshore forex broker that was founded in A company named Global Trade Partners Ltd. owns LMFX and the parent company is located in North Macedonia according to Terms of Business file. Besides, there is another company called GTP Global Solutions Ltdw which is based in Sts Vincent and Grenadines that provides payment services for LMFX.

Thus, LMFX is associated with two different entities of which one is located in North Macedonia and other is located in St. Vincent and Granedines. LMFX gives its customers a choice of three different account types for different trading style and experience.

Those accounts are Premium Account, Zero Account and Fixed Account. LMFX assists its clients through various methods including live chat, email, web contact form and phone. The support team is swift to respond to the questions with informative content. Their web site features an education section where traders are able to access economic calendar and several forex calculators. Those two tools are very handy for veteran traders however, the web site lacks the educational and informational material for novice traders.

MetaTrader 4 is the trading platform provided by LMFX to its clients without extra charge. The Broker does not offer any other trading platform which makes LMFX a MetaTrader 4 only broker. MT4 has become a standard in the forex industry due to its reliability, charting tools, indicators and other free features. Clients of LMFX are able to deposit or withdraw funds via wire transfer, credit card, debit card, Neteller, Skrill, fasapay and VLOAD.

Since LMFX is not a regulated forex broker, the potential clients are recommended to deposit required minimum deposit at first instead of risking a bigger amount. Following the broker gained your trust and you are feeling more comfortable with their services, you may deposit further. Established in and regulated by SVG FSA, AZAforex has been a well-known broker.

AZAforex offers its clients the modern Mobius Trader 7 trading terminal for desktop and mobile. Clients of the broker can also utilize the service to transfer funds between accounts at market spreads.

ECN trading with fixed spreads is available at AZAforex. You can trade with leverage ranging from 1 to with AZAForex. AZAFX provides customer service through the following channels: Live Chat, Email, Online Form, Call Back and Social Media.

AZAForex staff is trained to assist clients with market, trading, and operational questions. Live chat and phone are the quickest ways to contact the customer service representatives. With the exception of wire transfer, which takes between 3 and 5 business days to arrive in your account, the most of those payment choices are instant. We recommend depositing and withdrawing through crypto currencies due to low cost and speed. One of the biggest misconceptions among forex traders is that forex is prohibited in the US.

This is incorrect. Online forex trading is regulated and allowed in the US under the supervision of CFTC and NFA. Nevertheless, there are some limitations.

Although it could be a double-edged sword, leverage is what makes forex trading compelling for investors. The leverage enables traders to open orders for larger contract size with little capital.

Some offshore forex brokers offer leverage up to to attract clients. On the other hand, US authorities believe that high leverage encourages investors to overtrade and take high risk without really understanding it. This is why regulations in the US restrict leverage to on major forex pairs and on minor pairs.

It is one of the best-known Contract for Difference , Forex, shares, commodities, and cryptocurrencies brokers in the world. In addition, all brokerages operating in the country accept credit cards, which are the single most popular payment method in the US.

The most widely used credit card brands are Visa, Mastercard, American Express , Discover, and Diners Club International. Proposed by the President Obama administration in , the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a US federal law by the U.

It aimed at reforming the financial regulatory system in the aftermath of the financial crisis of — The law is considered to be the largest and most comprehensive overhaul of the financial regulatory system since the reforms that followed the Great Depression in the s.

IG uses its size to offer users competitive pricing, irrespective of the product traded by the user. For U. BasicForex FX DayTrading CurrencyTrading Forex. These transactions may take up to 3 or 4 business days to complete. The Dodd-Frank Act introduced several new regulatory bodies, each having jurisdiction over a specific sector in the financial services industry. Last, but not least, the capital requirements for Forex brokers have scared off most firms following the enactment of the Dodd-Frank Act.

The standard account charges spreads, and no commission, while the Direct Market Access account is commission based and more suitable to U. S traders with a very high trading volume. com is another leading platform for Forex traders in the U. S looking for a well-rounded offering.

As a Forex beginner in the US, you should look for a broker that offers a simple to use trading platform FxChoice, Forex. com and IG Brokers. The choice of a Forex broker is always very important not only to US traders but to any other Forex trader. Bityard provides SSL encryption security on its platform, and it used cold storage to store cryptocurrencies. I have been in trading business for almost 30 years and the latest 15 years of this period has been devoted to foreign exchange trading.

FxGlory provides the MetaTrader 4 trading platform to its clients for free. We believe everyone should be able to make financial decisions with confidence. com, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade.

Forex traders can make money on a currency transaction in 2 ways. ThinkorSwim has been around for a very long time and is well respected in the industry. What is interesting about Interactive Brokers is the incredibly attractive Margin Interest Charges.

In fact, these seem to be the best in the industry, as they range from 2. Ally is in 2nd place in this round as it offers more Fx Pairs that TD Ameritrade and lower Margin Account interest rates. Their web site features an education section where traders are able to access economic calendar and several forex calculators. Those two tools are very handy for veteran traders however, the web site lacks the educational and informational material for novice traders.

By performing a simple Google search for this purpose, you will be presented with thousands of potential suitors. As such, the process involved in finding the best forex trading platform for you can be time-consuming. After all, you need to explore things like supported currency pairs, commissions, minimum account balances, and regulation.

In this guide, we review the best forex trading platforms in We also walk you through the steps required to start buying and selling currencies today at a top-rated forex trading platform! You can find a full review of each provider by scrolling down! Featured Broker Visit Site CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Rating 5. Spread 1 pip 0. eToro — Over Best Forex Trading Platform eToro is now one of the largest forex brokers in the online space — with more than 17 million clients on its books. The main attraction with eToro is that the platform is extremely easy to use. And of course — the platform allows you to trade forex without paying a single cent in commission.

Instead, this top-rated forex trading platform makes its money through the spread. This covers a huge number of majors and minors, as well as a selection of exotic currencies like the South African rand and Hungarian forint. You can trade all supported currency pairs with leverage at eToro — with most users being able to access on majors and on minors and exotics. You should consider whether you can afford to take the high risk of losing your money.

What we really like about eToro is that it is also suitable for those of you that have never previously traded forex and want to open a micro currency account. In terms of the fundamentals, eToro is regulated by the FCA, CySEC, and ASIC. It keeps client funds in segregated bank accounts and verifies the identity of all trades.

As such, you can trade forex at eToro in a safe and sound environment. Finally, we should note that on top of forex, eToro also supports commission-free stocks, ETFs , indices, cryptocurrencies , and commodities. Although eToro makes our number one spot as the best forex trading platform of - it doesn't allow US residents to buy and sell currencies.

As such, if you're an American and looking for the best forex site in the space right now - look no further than Forex. As the name suggests, this provider is a specialist forex trading platform. By going through the motions of opening an account and making a deposit - you will then have unfettered access to over 80 currency pairs.

This includes a huge variety of majors, minors, and exotics. In particular, Forex. com is a great platform to consider if you want to access emerging currencies. In terms of fees, this popular forex trading platform offers several account types to choose from. For example, if you're a casual forex trader you might consider opting for an account that offers commission-free positions.

At the other end of the scale, professional forex traders might opt for the STP Pro account. This allows you to trade from just 0. Crucially, we like the fact that Forex. com allows you to choose a pricing structure that meets your trading profile. com gives you access to its own native trading platform - which can access online or via the provider's mobile app, including advanced charting. Alternatively, you can also access your Forex. com account via the third-party platform MetaTrader 4 MT4 , where you can perform backtesting.

The platform is also a proponent of forex EAs, as it offers 20 free forex trading strategies that you can easily install into your MT4 dashboard.

VantageFX is our top recommended forex trading platform. This CFD trading platform first launched in Australia, but it's since expanded around the globe. The brokerage has left its mark with a range of asset classes, very low fees, and excellent trading tools.

VantageFX is solely a CFD trading platform. They provide every investment opportunity from forex trading to cryptocurrencies, commodities, indices, and stocks. They are a brokerage geared towards every type of investor. Whether you're new or experienced in trading, there is something to interest you here, with competitively low spreads and a zero commission account option.

A big part of why we recommend VantageFX is its high leverage forex trading. You can trade major forex pairs on margin of up to VantageFX offers a variety of trading platforms, including its own web trader and mobile app. The broker also integrates with the highly popular MetaTrader 4 and MetaTrader 5 trading platforms.

So, you can trade with forex signals or create custom technical indicators to suit your needs. Notably, VantageFX also enables social trading with Myfxbook, ZuluTrade, and Duplitrade.

VantageFX is regulated by the UK Financial Conduct Authority FCA and the Australian Securities and Investment Commission ASIC. If you a novice in the world of forex trading then you should choose a platform the supports low minimum deposits.

In doing so, you can test the waters out slowly without risking too much capital. Nevertheless, FXCM is home to a great range of forex pairs - all of which can be traded commission-free. Spreads are particularly competitive when trading major pairs. FXCM is also a great option if you want access to leverage. In fact, this top-rated forex trading platform offers leverage of up to Your limits will, however, also be dictated by your location and prior trading knowledge.

For example, UK and European traders will be capped to In terms of the forex trading platform itself, FXCM offers full support for MT4 and ZuluTrade. Or, you might decide to use the provider's native FXCM Trading Station - with is very popular with newbies. Finally, FXCM has been active in the forex trading scene for over two decades and is regulated by the FCA.

There is no guarantee you will make money with this provider. TD Ameritrade is arguably one of the most reputable brokerage firms globally. Established more than four decades ago, the platform is typically known for offering a huge library of stocks, ETFs, and investment funds.

However, TD Ameritrade is also behind a fully-fledged forex trading facility. The platform supports a wide variety of tradable currencies, with pairs including the likes of USD, CAD, GBP, HKD, NZD, JPY, NOK, and more. All supported pairs can be traded 23 hours per day - subsequently ensuring that the platform serves its global client base.

We should note that the TD Ameritrade 'Thinkorswim' platform is best suited for experienced forex traders. This is because it comes packed with professional-level tools and features that to the untrained eye - might come across as somewhat intimidating. When it comes to forex trading fees, TD Ameritrade builds all commissions into the spread.

This means that you only need to look out for the gap between the bid and ask of your chosen FX pair. In some respect, leverage is a crucial tool to have at your disposal when trading forex online.

After all, the day-to-day gains that you can make by buying and selling currency pairs are going to be somewhat modest. As such, if you have access to a small amount of capital, it might be best to use a platform that offers high levels of leverage. As always, you might be offered lower limits - especially if you are based in Europe and you're not deemed to be a professional trader. Nevertheless, we should note IG is much more than just a high leverage broker.

On the contrary, this hugely popular forex trading platform gives you access to over 80 currency pairs. Fees are really attractive too, as spreads on major pairs start from just 0. There are no commissions charged in the IG forex trading department, either. Additionally, IG is also compatible with MT4. If you haven't previously heard of IG and are concerned about safety - you shouldn't be. This brokerage firm has been operational since the s and it is now publicly listed on the London Stock Exchange.

And most importantly - it is fully regulated in several jurisdictions. FXTM is a popular forex trading platform that offers full support for MT4. This means that once you open an account and make a deposit, you can place all buy and sell orders via the MT4 desktop software.

As a seasoned trader, you'll know that MT4 provides heaps of technical indicators and is compatible with automated forex EAs. FXTM itself offers a huge number of forex pairs and there are several account types on offer. Plus, this FXTM account allows you to trade forex with micro amounts.

This is perfect if you are trading forex online for the first time. In terms of forex trading fees, this will depend on your chosen account type. For example, some accounts offer zero commissions and wider spreads, while others allow you to trade currency pairs at 0 pips.

If you're a newbie, FXTM offers a good selection of educational and research tools. This will allow you to become a better forex trader over the course of time. If you are looking to trade several different asset classes other than just forex, XTB might be a good option to consider. The online trading platform is particularly popular in Mainland Europe - as XTB's parent company is listed on the Warsaw Stock Exchange.

Nevertheless, the forex trading department at XTB is highly extensive, with dozens of pairs to choose from.

Some offshore forex brokers offer leverage up to to attract clients. AAFX Trading Customer Support AAFX Trading offers customer support in many languages including Arabic, Chinese, Czech, Croatian, Danish, Dutch, English, French, German, Greek, Indonesian, Indian, Italian, Irish, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu and Vietnamese. Is Forex Trading Legal in the US? Thus, there are only a handful of brokers located in the US that provides forex trading services to the US traders and higher operational cost leads those brokers to pass higher fees on the traders. FBS 9. The Broker does not offer any other trading platform which makes LMFX a MetaTrader 4 only broker.

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