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View all spreads. Why Pepperstone? Trade with confidence. Protect your money with a regulated broker. Choose from a wide range of funding methods with local bank options. Unlock more opportunities. Enjoy seamless trading with fast execution speeds. Be rewarded f or high volume trading.
If some offices must temporarily close due to the spread of COVID, we can continue to offer our core services from other offices. Fund your account in multiple currencies and trade assets denominated in multiple currencies. How do I place a trade? In these jurisdictions a Forex license is not required. Open an Account Contact Us. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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Learn from other traders with automated trading. Knowledge and expertise. Free educational resources. Apply in minutes. Seamless trading. Personalised support. On the beneficial side, those Forex brokers accepting US clients have worked very hard to meet all the regulatory requirements.
They will be well-capitalized, have excellent compliance, and most importantly they are serious about being in the industry for the long-term. Unlike other parts of the world, there are sketchy US based Forex brokers. All US regulated Forex brokers fall under the same set of regulations making the landscape much easier to navigate — there are no regional or state-level differences. That means if you are comparing one US Forex broker with another US Forex broker, you know that they will operate under the same set of rules.
Importantly, that means they do not execute client orders on the prices given by their liquidity providers. As such, a dealing desk broker is also known as a market maker as they literally create a market in the underlying security for their clients. This is not to say that dealing desk brokers do not have access to liquidity providers.
Depending on the trade direction, size, and market condition s, they will decide whether they keep the trade on their books or not, and at some point, match their position with a liquidity provider. A dealing desk broker will charge a spread for their services. They link buyers and sellers together through liquidity providers such as banks and institutions. Non-dealing desk brokers do not charge a spread; instead, they charge a commission.
There still may be a small spread on the trade but it is the underlying market spread, not a spread being created by the broker. Secondly, non-dealing desk brokers will rarely show you a requote in normal market conditions when you execute the trade, in other words, you almost always get the price you see on the screen. This may not be the case when markets are particularly volatile, for example, during a big economic data release or news event. Non-dealing desk accounts usually require higher minimum deposits and minimum trade sizes.
For smaller account sizes, especially for mini and micro-lot accounts, the only option is often a dealing desk account. The US Forex market for retail traders concentrates around the eastern time zone. Although there is no hard line that defines when the Forex market opens for US traders as it runs 24 hours a day, five days a week, it is widely agreed that the US opening time for Forex is at 8 a.
Eastern Time. The first couple of hours of the US open is historically the most liquid during any hour Forex period because London and other European centers are still operating at that time. Just as the team at DailyForex considers multiple variables in whether we should recommend a particular US Forex broker, as a US trader you should also employ a thorough analysis considering numerous factors.
Whilst we do a lot of the hard work for you, here is a checklist you can employ for yourself.
Are you happy with the trading platforms offered? Is there a choice of platforms? Does the broker offer mobile trading? Is the broker truly global, offering access to wide range of global asset classes? This can be especially important if you want to trade individual stocks.
Spreads, and also commissions if charged can make a big difference to your overall cost of trading, as these are going to be the biggest cost you face by far, unless you make very few trades and hold for the long term. Leverage — the amount that a broker will let you borrow to trade — is another important issue. Almost every broker will offer quite generous leverage on Forex and many other asset classes, but if you are seeking high leverage, it is important to check the maximums allowed asset by asset.
Some Forex brokers will offer their clients a choice of different types of account. The right choice of account type for you will probably depend upon the minimum deposit required, what you want to trade, and how often you trade. Some general rules about which account type is probably going to be most suitable for you:. There is little doubt that if you can afford it, the higher deposit you make, the better deal you will get on overall fees and other trading conditions. Most Forex brokers require a minimum deposit to in order to accept a new customer, and this is especially true for a wealthy country such as the US.
This is justifiable as brokers incur their own operational fixed costs in opening and maintaining a new account. It is important to remember that these minimums are not applied to ongoing account balances, they just mean that to open an account you have to start by depositing a minimum amount. The traditional image of the Forex trader as glued to their laptop or PC is out of date. More and more people are trading from apps, not least because using a trading app allows you to monitor and trade markets no matter where you are or what time of day or night it is.
This does not mean that app traders are glued to the market, it means they use apps intelligently by setting their trading apps to alert them when something interesting happens in the market. Every Forex broker in the US will offer their own dedicated trading app and they are mostly reaching very high standards. Person-to-person customer service is something that you will probably never need, but you do want to know that if you need it, it is there and at a high standard.
Fortunately, due to the low number and generally high reputations of US Forex brokers, and high expectations of customer service in American culture, you are unlikely to find that you will be lacking help if you reach out and ask for it — or even if you do not. All Forex brokers today have automated FAQ searches which should troubleshoot a solid majority of any operational difficulties you might encounter in your trading.
Day trading is short-term trading: in the literal sense of the phrase, it refers to Forex traders who open and close all their trades on the same day, without leaving any trades to run over the long term. In practice, day traders sometimes do leave at least some of their floating profit to run for days, or even for weeks and months if the trend is especially strong. Day traders have special requirements and priorities. As they tend to trade frequently, the cost of spreads and commissions becomes more important to their bottom-line profit and loss.
This means that one Forex broker may offer a better deal for day traders and another one for longer-term swing or position traders. Day traders can also benefit from more precise technological tools and faster executions, so anyone intending to be a day trader should investigate these areas carefully when looking to choose a Forex broker. Some brokers do not allow this, so if you want to scalp, it is important to check this is OK with the broker you want to choose. As a US trader, you will have plenty of questions when choosing from a selection of Forex brokers accepting US clients or even trying to find which are the best US Forex brokers for beginners.
As always, our team of analysts and industry experts at DailyForex have done much of the hard work for you to bring you the best US regulated Forex brokers. We employ a rigorous methodology that measures multiple variables to find the best US Forex brokers for beginners and advanced traders.
Alpha Futures &. Bank Notes Exchange.
First and foremost, we are most concerned with the financial stability and regulatory compliance of any broker we review. Next, we look at the reliability of their execution, including speed of execution and accuracy of filling client trades. We review the capability of the platforms they offer traders for charting and execution, followed by the level of customer service they give clients. For example, are they available by phone 24 hours a day? Or is customer service by email only? Our team has direct experience of the brokers we are assessing through live and demo accounts, and by dealing with their customer service personnel.
This degree review of every US Forex broker gives us a complete understanding of whether they should sit on our list of Forex brokers accepting US clients.