6 Best CFTC Regulated Forex Brokers (USA)
The 6 best CFTC Regulated Forex Brokers revealed. We have explored and tested several prominent CFTC Forex brokers to identify a list of the 6 best.
In this in-depth guide you’ll learn:
- What a CFTC-regulated Forex broker is.
- Who the best Forex brokers are in the USA.
- a List on which brokers are regulated by CFTC?
- Is forex regulated by CFTC?
- Pros and cons of each broker.
- Popular FAQs about CFTC-regulated Forex brokers
And lots more…
So, if you’re ready to go “all in” with 6 best CFTC-regulated Forex brokers…
Let’s dive right in…
6 Best CFTC Regulated Forex Brokers (USA) (2024*)
- ☑️XM – Overall, Best CFTC Regulated Forex Broker.
- ☑️Alpari – a Diverse selection of products.
- ☑️IG – Wide Range of Trading Instruments.
- Forex.com – Strong Regulatory Structure.
- OANDA – Known for their Fair and Ethical trading.
- Interactive Brokers – Offers some of the Lowest Commissions.
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
What is a CFTC Forex broker?
A CFTC regulated Forex broker is a financial institution authorized by the U.S. Commodity Futures Trading Commission (CFTC) to offer foreign exchange trading services in compliance with strict regulatory standards.
These brokers ensure transparency, fair dealing, and investor protection in the trading of currency pairs within the United States.
Top 6 CFTC Regulated Forex Brokers (USA)
| 🔎 Broker | 👉 Open Account | 💻Account Types | 💰Minimum Deposit | 💻 Demo Account |
| XM | 👉 Open Account | Micro, Standard and shares account | From 5 USD | ✅ |
| Alpari | 👉 Open Account | Standard account Micro account ECN account Swap free account | From 100 USD | ✅ |
| IG Group | 👉 Open Account | National, Standard, CFD | From 0 USD | ✅ |
| Forex.com | 👉 Open Account | Standard Account, Commission Account, DMA | From 100 USD | ✅ |
| OANDA | 👉 Open Account | Standard, Core, Swap-Free, Premium, Premium Core | From 0 USD | ✅ |
| Interactive Brokers | 👉 Open Account | Individual, Joint, Trust, IRA, UGMA/UTMA, Advisor, Institutional | Varies by account type and country | ✅ |
XM
Overview
XM is a reputable Forex broker known for its CFTC regulation, ensuring compliance with U.S. financial laws. It offers a wide range of investment opportunities, including currency pairs, commodities, stocks, and indices.
With competitive commissions and fees, XM provides transparent pricing structures to traders. Their user-friendly platforms and advanced trading tools cater to both beginner and experienced investors, enabling seamless execution of trades.
Additionally, XM boasts excellent customer service, offering support in multiple languages via various channels, including live chat, email, and phone, ensuring clients receive prompt assistance whenever needed.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💰 Minimum Deposit | $5 |
| 📉 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
XM Pros and Cons
| ✅Pros | ❌Cons |
| The XM accounts are accessible to all types of traders | Spreads can fluctuate drastically and quickly |
| Traders can use leverage up to 1:1000 | There are position size limits according to the trading account |
| XM caters to various trading strategies | ompared to alternative brokerages, XM offers a relatively limited assortment of cryptocurrencies, which may restrict the range of options available to traders interested in acquiring a diverse selection of crypto assets. |
| There is a diverse range of tradable instruments | Traders may incur inactivity penalties if their accounts remain inactive for prolonged durations. This situation may present a challenge for infrequent traders. |
| XM offers multi-currency accounts | XM functions through the implementation of variable spreads, the magnitude of which traders may perceive as being greater during periods of heightened market volatility. |
| XM applies for negative balance protection | XM, in comparison to certain industry rivals, does not consistently provide fixed deposit advantages, potentially impeding traders who are in search of supplementary incentives. |
| A cent account is provided by XM, enabling traders, particularly novices in the field, to commence their endeavours with more modest investments while efficiently mitigating their risk exposure. | A number of traders are perplexed by XM's fee structure, which varies by account category and has the potential to cause some users to become confused. |
| XM's platform provides traders with competitive margins that not only enhance cost-effectiveness but also possess the potential to optimise profits. | Depending on the regulatory climate, traders whose strategies favour higher leverage ratios may face repercussions if XM is able to enforce leverage restrictions. |
Trust Score
XM has a high trust score of 90%.
Alpari
Overview
It stands as a trusted Forex broker, operating under the strict regulatory oversight of the CFTC, ensuring compliance with U.S. financial regulations. Alpari provides a diverse array of investment options, encompassing major currency pairs, commodities, indices, and cryptocurrencies.
They feature competitive commission structures and transparent fee policies, enabling traders to manage costs effectively. The platform offers robust trading tools and multiple user-friendly platforms, catering to the needs of both novice and experienced traders.
Alpari’s customer service team delivers responsive assistance across various channels, including live chat, email, and phone, ensuring clients receive prompt support and guidance throughout their trading journey.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSC, CFTC |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, and Forex Pro Account. |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, Alpari Mobile App |
| 💰 Minimum Deposit | $5 |
| 📉 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes (but not for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
Alpari Pros and Cons
| ✅Pros | ❌Cons |
| Beginners and those with minimal capital can enter with a $5 deposit | High leverage can magnify losses, especially for novice traders. |
| Learning and strategy testing with low balance has less financial risk. | Trading with a small amount of capital limits profits |
| 1:400 leverage increases market exposure and rewards. | Micro account currency options are limited to USD, EUR, GBP, NGN |
| The Alpari micro account is a deal for evaluating Expert Advisors without a large investment | A small investment amount is more susceptible to market changes and margin calls |
| With the Alpari micro account, traders can trade 25 major and minor currencies and 2 spot metals | Lack of stocks or indices trading on the Micro Account |
Trust Score
Alpari has a high trust score of 80%.
IG Group
Overview
They are a renowned Forex broker, operating under the oversight of the CFTC, guaranteeing adherence to stringent U.S. financial regulations. With an extensive range of investment options, including currency pairs, commodities, stocks, and indices, IG Group caters to diverse trading preferences.
Transparent commission structures and competitive fees empower traders to manage costs effectively. The platform boasts user-friendly interfaces and advanced tools, facilitating seamless trade execution and analysis.
Additionally, IG Group prioritizes customer satisfaction, offering comprehensive support through various channels like live chat, email, and phone, ensuring clients receive timely assistance and guidance for a smooth trading experience.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | IG Trading Account Limited Risk Account Islamic Account (Dubai Traders only) Demo Account |
| 📊 Trading Platforms | MetaTrader 4, IG Platform, ProReal Time (PRT), L2 Dealer, FIX API |
| 💰 Minimum Deposit | $250 |
| 📉 Trading Assets | Indices Forex, Shares, Commodities, Cryptocurrencies Futures, Options |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ❌ No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes (Dubai Customers only) |
| 👉 Open Account | 👉 Open Account |
IG Group Pros and Cons
| ✅ Pros | ❌ Cons |
| IG offers over 19,000 financial instruments | IG offers over 19,000 financial instruments IG's fee structure can be complex |
| IG is well-regulated by several regulatory entities, including FCA | There is a high minimum deposit |
| There is a wealth of education available | There is a wealth of education available Inactivity fees apply |
| IG offers support for traders by offering trading tools | Some regions have limited access to financial instruments |
| IG serves traders around the world |
Trust Score
IG has a very high trust score of 99%.
Forex.com
Overview
The broker operates under the strict regulation of the CFTC, ensuring compliance with U.S. financial laws and providing traders with a secure trading environment.
With a diverse offering of investments including currency pairs, commodities, indices, and cryptocurrencies, Forex.com caters to various trading preferences and strategies.
It features competitive commission structures and transparent fee policies, empowering traders to manage costs efficiently. Forex.com offers a range of robust trading platforms and advanced tools, facilitating seamless trade execution and in-depth analysis.
Additionally, the broker prioritizes customer satisfaction, providing responsive and knowledgeable support through multiple channels such as live chat, email, and phone, ensuring traders receive prompt assistance and guidance whenever needed, enhancing their overall trading experience.
Unique Features
| Feature | Information |
| 🏛️ Regulation | ASIC, CIRO, CIMA, SFC, FSA, MAS, FCA, NFA, CFTC |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Standard Account, Meta Trader Account, RAW Spread Account |
| 📊 Trading Platforms | Mobile App, WebTrader, MetaTrader 5, TradingView |
| 💰 Minimum Deposit | $100 |
| 📉 Trading Assets | Forex, Indices, Stocks, Cryptocurrency, Commodities, Gold and Silver |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️Yes (except for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
Forex.com Pros and Cons
| ✅ Pros | ❌ Cons |
| Tight spreads across a variety of currency pairs | There are no strong incentives for high-volume trading |
| There are multiple trading platforms | The demo account expires after 90 days |
| Strong educational support for traders | Platform options can be challenging to browse |
| Competitive price and a straightforward fee structure | Aside from Forex, there are limited product options |
| An extensive toolkit for analyzing and trading | If you do not trade consistently, you will incur an inactivity fee |
Trust Score
Forex.com has a very high trust score of 90%.
OANDA
Overview
The broker is a renowned Forex broker, operates under the oversight of the CFTC, ensuring compliance with rigorous U.S. financial regulations, instilling trust and confidence among traders. OANDA offers a comprehensive range of investment opportunities, including currency pairs, commodities, indices, and bonds, catering to diverse trading preferences and strategies.
With transparent and competitive commission structures, OANDA empowers traders to manage costs effectively, while offering tight spreads to enhance profitability.
OANDA’s innovative trading platforms, including its proprietary web-based platform and MetaTrader 4 integration, provide traders with advanced tools and analysis features for seamless trade execution and decision-making.
Moreover, OANDA places a strong emphasis on customer service, offering responsive and knowledgeable support through multiple channels such as live chat, email, and phone, ensuring traders receive prompt assistance and guidance throughout their trading journey.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, CFTC |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Standard Account, Core Account, Swap-Free Account, Demo Account |
| 📊 Trading Platforms | Oanda Platform, MetaTrader 4, TradingView |
| 💰 Minimum Deposit | No specific minimum deposit required. |
| 📉 Trading Assets | Index CFD's, Forex, Metals, Commodity CFD's, Bonds CFD's, Precious Metals, Real-Time Rates |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️Yes (except for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
OANDA Pros and Cons
| ✅Pros | ❌Cons |
| There is no minimum for lower deposits, which is convenient for traders who want to start modestly | Deposits of more than US$9,000 require additional documentation |
| Some accounts have minimal spreads, allowing for competitive trading conditions | Some accounts charge commissions per million transacted |
| OANDA offers a range of tradable markets | Some risk-averse traders may find a 50% stop-out too high |
| Advanced trading platforms include the MT4, MT5, and FxTrade platforms | Certain bonuses need a high minimum balance and trading volume |
| There are no restrictions on trading strategies |
Trust Score
OANDA has a trust score of 91%.
Interactive Brokers
Overview
It is a renowned Forex broker regulated by the CFTC, ensuring compliance with stringent U.S. financial regulations. The broker offers a diverse range of investment opportunities, including currency pairs, stocks, options, futures, bonds, and more, catering to various trading preferences and strategies.
With competitive commission structures and transparent fee policies, Interactive Brokers empowers traders to manage costs effectively, offering both fixed and tiered pricing options.
Interactive Brokers provides advanced trading tools and powerful trading platforms like Trader Workstation (TWS) and IBKR Mobile, facilitating seamless trade execution and comprehensive market analysis.
Added to this, Interactive Brokers prioritizes customer service, offering responsive support through multiple channels such as live chat, email, and phone, ensuring traders receive prompt support throughout their trading journey.
Unique Features
| Feature | Information |
| 🏛️ Regulation | SEC, CFTC, FCA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Individual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack |
| 📊 Trading Platforms | IBKR |
| 💰 Minimum Deposit | No specific minimum deposit required. |
| 📉 Trading Assets | Global Stocks, options, futures, currencies, cryptocurrencies |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️Yes (except for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ❌ No |
| 👉 Open Account | 👉 Open Account |
Interactive Brokers Pros and Cons
| ✅ Pros | ❌ Cons |
| Extensive range of financial instruments including stocks, options, futures, Forex, bonds, and more. | Complex fee structure that may be confusing for some traders. |
| Direct market access (DMA) providing transparent and efficient trading execution. | Higher minimum deposit requirements compared to some other brokers. |
| Competitive pricing with low commissions and margin rates. | Steeper learning curve for beginners due to the advanced trading tools and features. |
| Powerful trading platforms such as Trader Workstation (TWS) and IBKR Mobile, offering advanced tools and analytics. | Limited customer support options, primarily through email and chat. |
| Global presence with access to over 135 markets in 33 countries. | Inactivity fees on dormant accounts. |
Trust Score
Interactive Brokers has a trust score of 95%.
Conclusion
Overall, selecting the right CFTC-regulated Forex broker is crucial for traders seeking security, transparency, and reliability in their trading endeavors. By considering factors such as regulatory compliance, investment offerings, fees, platforms, and customer service, traders can make informed decisions and find the best-suited broker for their needs.
Frequently Asked Questions
Is trading with a CFTC-regulated Forex broker safer than with an unregulated broker?
Yes, trading with a CFTC-regulated broker provides an added layer of safety and security. The CFTC oversees the operations of these brokers, ensuring compliance with strict regulatory standards and protecting traders’ interests.
What are the advantages of choosing a CFTC-regulated Forex broker?
CFTC-regulated brokers adhere to stringent regulatory requirements, offering traders transparency, fair dealing, and investor protection. Additionally, trading with a regulated broker instils confidence in the integrity and reliability of the trading environment.
Can I trust CFTC-regulated Forex brokers with my funds?
Yes, CFTC-regulated brokers are required to segregate client funds from their operational funds, providing an extra layer of security for traders’ funds. Additionally, these brokers are subject to regular audits and scrutiny to ensure compliance with financial regulations.
What recourse do I have if I encounter issues with a CFTC-regulated Forex broker?
In the event of any issues or disputes with a CFTC-regulated broker, traders can file complaints with the CFTC or seek resolution through other regulatory channels. These brokers are obligated to address client concerns promptly and fairly under regulatory oversight.
Are there any limitations to trading with a CFTC-regulated Forex broker?
While trading with a CFTC-regulated broker offers numerous benefits, traders should be aware of potential limitations such as stricter regulatory requirements and slightly higher costs compared to trading with unregulated brokers. However, these limitations are often outweighed by the safety and security provided by regulation.
