FOREX BROKERS IN USA FOR BEGINNERS

Making a decision on the best forex broker to suit your trading style might be overwhelming as a newbie in the forex market.

Finally, you want a broker who will make things simple for you by offering inexpensive spreads and commissions.

There are forex brokers in USA for beginners that offer narrow spreads and minimal commissions to help a forex newbie build confidence in trading.

In this post, you will get information on some of the best forex brokers in USA for beginners.

FOREX BROKERS IN USA FOR BEGINNERS

forex brokers in USA for beginners

Here is the best forex broker in USA for beginners and why:

IG markets: Most dependable for learning

Etoro: Best for copy trading

Avatrade: Outstanding educational resources

Forex.com: best for investing

CMC MARKETS: best for web trading.

BEST FOREX BROKER IN USA

There is high competition among brokers in USA. Among their offer to clients, you will find good leverage that suits your trading strategy, tight spread, and low or no commission.

It is true that traders have their preferences when choosing a broker, after much comparison among brokers in the USA; two brokers make it to the top: Forex.com and IG markets.

FOREX.COM

forex.com broker

FOREX.com is a well-known broker with a diverse asset portfolio that will appeal to forex traders of all levels of experience.

Forex.com has a minimum deposit of $100 and a trust score of 99.

Benefit from fixed spreads as low as 1 pt, during market hours. Click the link to know more about forex.com.

PROS AND CONS OF FOREX.COM

PROSCONS
TradingView’s powerful charting is fully integrated and simply accessed with the same username in Web Trader.Metatrader 5 is not available to US citizens
StoneX, the parent business of FOREX.com, is a safe (low-risk) broker for trading forex and CFDs because it is publicly traded (NASDAQ: SNEX) and regulated in four tier-1 countries.On FOREX.com’s MT5 platform, there are only roughly 600 instruments available, compared to nearly 4,500 on its non-MetaTrader platforms.
FOREX.com’s multi-asset offering reflects the best on its renowned Sophisticated Trading (software) and Web Trading platforms, with a large selection of markets offered.Despite delivering exceptional written information in both research and teaching, FOREX.com does not publish video content as frequently as its contemporaries.

READ ALSO: US FOREX BROKERS MT5

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READ ALSO: US FOREX BROKERS WITH LOWEST SPREADS

BEST FOREX TRADING APP

best forex trading app

A trader can use a variety of forex trading apps to trade. Before I get into what makes a forex trading app the best, let me say with certainty that MT5 is the best forex trading app.

The following are the reasons why:

QUICK GUIDE

  • Very easy to use– the Mt5 app is very easy to use especially for a beginner, unlike other forex trading apps. With the MT5 a trader can easily locate the list of indicators, and tools and can connect to a large community of traders.
  • Highly customizable chart- traders can adjust the chart to suit their trading style
  • Comprehensive technical analysis-great for technical analysis traders, with the trend line, horizontal line, and other tools, a trader can make better decisions from market analysis.
  • Features: real-time quotes, financial news, FX & stock charts, technical analysis, and online trading. Free demo accounts are available.
  • Multi-window mode: with the multi-window mode design traders can effortlessly switch between windows.

FULL GUIDE TO THE BEST FOREX TRADING APP

TRADING

  • Real-time Forex & Stock market quotes
  • Full set of trade orders, including pending orders
  • Level II prices with up to 32 quotes
  • All types of trade execution
  • Detailed online trading history

ADVANCED TRADING

  • Fast switching between financial instruments on charts
  • Sound notifications assisting trading
  • Customizable Forex & Stock chart color schemes
  • Trade levels visualizing the prices of pending orders, as well as SL and TP values on the chart.
  • Free financial news — dozens of materials daily
  • Chat with any registered MQL5.community trader
  • Support of push notifications from the desktop MetaTrader 5 (MT5) platform and MQL5.community services
  • Connection with hundreds of Forex & Stock Brokers.

TECHNICAL ANALYSIS

  • Interactive real-time Forex & Stock charts with zoom and scroll options.
  • 30 of the most popular technical indicators among traders
  • 24 analytical objects: lines, channels, geometric shapes, as well as Gann, Fibonacci, and Elliott tools.
  • 9 timeframes: M1, M5, M15, M30, H1, H4, D1, W1, and MN.
  • 3 types of charts: bars, Japanese candlesticks, and broken lines for efficient trading.

IG FOREX BROKER

IG Forex broker

IG is one of the most trusted US brokers, established in 1974, FTSE250 is listed with over 313000+ clients worldwide.

IG offers free trading courses and webinars on IG academy.

It has 4-star ratings on the trust pilot. The multi-asset broker has an all user-friendly experience which is good for beginners and advanced traders as well.

Click the link to know more about IG Forex Broker.

TOP FOREX BROKERS LIST

There are hundreds of forex brokers from which a trader may choose; before selecting a broker, ensure that it fits your trading style and that you open a live account with a regulated broker.

Below is our top forex brokers list:

BROKERMINIMUM DEPOSITTRADABLE SYMBOL
XM$51000+
IG$30019537
Saxo bank$200040000
CMC markets$011927
Forex.com$995500
Interactive broker$07400
Ameritrade$0
XTB$010000
Etoro$10-$2003056
Avatrade$1001260

Above are carefully selected top 10 Forex brokers’ trading platforms in the world.

BEST FOREX BROKER IN THE WORLD

I’ve been trading in the financial market for a long time, I’ve tried several brokers, and I’ve realized that declaring there is one best forex broker in the world is not ideal.

Because all brokers have benefits and drawbacks, and forex traders have preferences and features they want in a broker based on their trading style.

That being stated below is a handful of the industry’s top forex brokers.

  • XM
  • Forex.com
  • IG
  • XTB
  • Ameritrade

WHICH IS THE MOST RELIABLE FOREX BROKER?

Any reputable forex broker must be regulated and have positive feedback from traders.
Many traders have positive things to say about XM.

WHICH FOREX BROKER IS LEGAL IN THE USA?

I believe by legal you mean regulated. There are many brokers in the USA that are regulated like forex.com, IG, interactive brokers, and more.

CAN BROKERS STEAL YOUR MONEY?

A broker cannot legally steal your money, thus to ensure that your assets are protected, a trader should always use regulated brokers for a live account.

HOW DO I CHOOSE A FOREX BROKER?

Before you choose a forex broker, you must consider these factors:
·         The broker must be regulated.
·         Suit your trading style.
·         Low spread.
·         Multi-asset availability.
·         Good customer support.
·         Zero deposit fee (optional).
·         Zero withdrawal fee (optional).
·         Good educational resources in videos and materials (optional).
·         Positive feedback from traders.