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List of Top 10 Best US Forex Brokers

The foreign exchange market (ForexFX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. List of Top 10 Best US Forex Brokers

The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency’s absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc.

The foreign exchange market works through financial institutions and operates on several levels. Behind the scenes, banks turn to a smaller number of financial firms known as “dealers”, who are involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is sometimes called the “interbank market” (although a few insurance companies and other kinds of financial firms are involved). Trades between foreign exchange dealers can be very large, involving hundreds of millions of dollars. Because of the sovereignty issue when involving two currencies, Forex has little (if any) supervisory entity regulating its actions.

The United States has by far the largest share of the world stock markets, amounting to over half the total value of global. The Forex market has been particularly active since the 1970s and in the USA, like in the rest of the world, and it has gained popularity over the past 40 years. Therefore, forex trading definitely is a popular activity among forex traders in the United States. Many brokers have launched and developed user-friendly and advanced online trading platforms that have simplified the process of trading and made it available from almost anywhere in the world.

Here is a List of Top 10 Best US Forex Brokers

IC-Markets

IC Markets is considered safe because it is regulated by the top-tier ASIC. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.32% of retail investor accounts lose money when trading CFDs with this provider.

XM

XM Global Limited was established in 2017 with headquarters in Belize and it is regulated by International Financial Services Commission (000261/158). All countries that are in Eurozone or in EU are provided with special regulation measures for both – gambling and trading websites.

Exness

Exness (Cy) Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12. Overall, Exness can be summarised as a trustworthy and regulated broker that is very competitive in terms of its trading fees (against major currency pairs). The spread is also very low and offers a sign-up bonus for 1st-time traders

Eightcap

Platforms overview: Eightcap is a MetaTrader-only broker offering the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform suite from MetaQuotes Software Corporation. Eightcap also recently introduced the ability for clients to connect their accounts to TradingView, a popular third-party charting platform

FP-Markets

FP Markets is an Australian contract for differences and forex trading broker headquartered in Sydney at Exchange House 10 Bridge in the adjoining building to the Australian Securities Exchange.75.31% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You can’t open an account at FP Markets if you live in United States.

TMGM

TMGM, or Trademax Global Markets, is an Australia-based global forex broker founded in 2013. Lee Yu is CEO of CFD trading platform TMGM, which is rising in global profile and recently announced a multi-year sponsorship of the Australian Open tennis tournament, starting in 2021.

Forex.com

FOREX.com is a trusted forex broker that shines thanks to its extensive product offering, excellent platform options and trading tools, and its selection of in-house and third-party market research.

AvaTrade

t takes just $100 to open an account and AvaTrade offers no volume discounts or guaranteed stop losses. They charge a $50 fee after three months of account inactivity and a $100 administration fee after one year of inactivityAvaTrade is not regulated in the USA. Therefore, we are unable to accept customers from the United States at this time. Additionally, we do not accept any funds that originate from within the US.

Pepperstone

Pepperstone is considered low-risk, with an overall Trust Score of 93 out of 99. Pepperstone is not publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). Pepperstone is regulated by the Financial Conduct Authority (FCA #684312) which is one of the main regulatory agencies in the U.K. and is highly regarded globally for being strict in ensuring that market practices are fair for both individuals and businesses.

FXTM

FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. The minimum deposit at FXTM is $50. Is FXTM a legit company? Yes, FXTM is a legit broker, as each of the entities and brands that it serves is authorized and regulated by various global jurisdictions. The main entity ForexTime Ltd is regulated by CySEC of Cyprus, authorized by FSCA of South Africa, and additional offshore authority FSC in Mauritius.

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