Best Brokers in the USA - Find The Best Forex Prop Firm For You In Minutes (2024)

Investing in the USA can be an exciting journey, but navigating the world of online brokers can feel overwhelming. With a plethora of options promising low fees, fancy platforms, and exclusive features, how do you choose the right one? Worry not, intrepid investor! This blog is your one-stop shop for unlocking the secrets of the best brokers in the USA.

Here, we’ll delve deep into the offerings of leading brokerages, analyze their fees, investment options, trading platforms, and educational resources. Whether you’re a seasoned pro or a curious beginner, we’ll equip you with the knowledge to confidently select a broker that aligns with your financial goals and investing style.

So, buckle up and get ready to explore the dynamic landscape of USA online brokers. With our comprehensive guides and insightful reviews, you’ll be well on your way to making informed investment decisions and building a brighter financial future.

Top US Forex Brokers

Highlighted below are some of the leading U.S. Forex brokers as recommended by Traders Union experts.


eToro stands out as a versatile investment platform. It’s important to note that investments can fluctuate, and there’s a risk of losing capital. Therefore, caution is advised before investing.

eToro, although a reputable company, does not provide Forex trading services in the U.S.

eToro USA LLC is registered with the CFTC and is a member of FINRA, operating within the United States. While Forex trading is not offered, eToro USA LLC facilitates crypto trading, which falls under the oversight of FinCEN and state regulations.

As Forex trading isn’t available in the U.S. through eToro, specific trading conditions are not applicable.


  • High reliability ensured by respected regulatory licenses and participation in compensation funds.
  • Availability of leverage, educational resources covering various markets, and user-friendly trading platforms compatible with any device.
  • Option to engage in social trading and passive investing simultaneously.


  • High minimum deposit requirements.
  • Absence of live chat support on the website for immediate customer assistance.

Overall, eToro USA presents a robust trading platform, offering a diverse range of assets, including U.S. stocks and cryptocurrencies. Its innovative features, such as social and copy trading, provide users with access to various assets listed on major global stock exchanges.

IG Markets

IG Markets, operating as IG US LLC, is a reputable Forex broker based in the United States. Their regulatory standing ensures legitimacy and adherence to industry standards.

IG US LLC is a Registered Retail Foreign Exchange Dealer (RFED) under the supervision of the CFTC and is also a member of the NFA.

With over 45 years of experience, IG Markets is a well-established and regulated Forex broker in the U.S.

Consider the following key trading conditions offered by IG Markets:

  • Standard accounts cater to beginners, providing access to various Forex pairs, stocks, and other assets.
  • Active trader accounts offer advantages such as lower spreads and margin discounts for high-volume traders.
  • The minimum deposit for a new account is $250.
  • Minimum trade size is 0.01 standard lot (micro lot).
  • Leverage is available up to 50:1, depending on the instrument. It’s important to note that leverage limits are in place to manage risk, and higher leverage options may not be suitable for beginners.
  • Commissions are variable, starting from $0 per trade for certain account types.
  • Spreads are variable, with IG Markets generally offering competitive spreads compared to other brokers.
  • An inactivity fee applies after one year of no trading activity.
  • IG provides a user-friendly web platform and mobile trading applications.
  • Customer service is available via 24/5 phone and live chat support.
  • Extensive educational materials, including webinars and video tutorials, are available.


  • CFTC registration ensures compliance with strict regulations.
  • IG Markets boasts a strong global reputation with over 45 years of experience.
  • Standard and active trader accounts cater to different trading styles and experience levels.
  • Variable commissions and spreads, generally competitive compared to other brokers.


  • The $250 minimum deposit requirement might be higher than some competitors.
  • Lack of technical support on weekends may disadvantage certain traders.
  • Inactivity fees can apply after one year of no trading activity.
  • Leverage limits might be less appealing for experienced traders.

Interactive Brokers

Interactive Brokers (IBKR) is a reputable Forex broker operating in the United States.

IBKR is registered with the CFTC as a futures commission merchant (FCM) and is also a member of FINRA.

Furthermore, IBKR is affiliated with the Securities Investor Protection Corporation (SIPC), a non-profit organization safeguarding investors in case of broker insolvency.

Consider the following key factors when evaluating this U.S.-based Forex broker:

  • The TWS platform offers advanced features but may pose challenges for beginners.
  • Educational resources, particularly focused on Forex trading, may be comparatively limited.
  • The individual investor account type caters to most traders and provides access to various asset classes, including Forex.
  • A minimum deposit of $10,000 is required.
  • Minimum trade size varies based on the currency pair.
  • IBKR offers margin trading, subject to leverage limits.
  • Commissions start at $0.005 per share for U.S. stocks and ETFs, with specific rates for options and other assets.
  • Competitive spreads are generally available, though they may vary depending on market conditions and currency pairs.
  • An inactivity fee is applicable after one year of no trading activity.
  • Customer service accessibility may be less immediate compared to some competitors, potentially tailored towards experienced traders.
  • While IBKR offers educational resources, its focus on Forex-specific materials might be less comprehensive compared to other brokers.
  • IBKR provides a free demo account with virtual funds, enabling traders to practice and familiarize themselves with the platform before investing real capital.


  • CFTC registration ensures compliance with regulations and investor protection.
  • IBKR offers highly competitive commissions and spreads.
  • Various account options are available, including individual, joint, and institutional accounts.
  • The TWS platform is robust and customizable, featuring advanced charting tools and market analysis features.


  • The TWS platform’s complexity may overwhelm beginner traders.
  • Mastering the platform and its advanced tools may require significant time and effort.
  • The $10,000 minimum deposit requirement is notably higher than that of most U.S. Forex brokers.
  • Forex-focused educational resources may be comparatively limited.

How to Verify Regulation of a U.S. Forex Broker?

To ensure a U.S. Forex broker is regulated by the CFTC, follow these steps outlined below, complete with screenshots for visual guidance:

Step 1: Visit the Commodity Futures Trading Commission (CFTC) website.

Navigate to the Commodity Futures Trading Commission’s official website.

Step 2: Access the “Learn and Protect” section.

Once on the CFTC website, locate the “Learn and Protect” tab in the main navigation menu. From the dropdown menu, select “Check Registration & Disciplinary History.”

Step 3: Proceed to the NFA BASIC Database.

Click on the red icon labeled “NFA BASIC Database,” which is prominently displayed on the page.

Step 4: Utilize the search functionality.

Upon redirection to the NFA BASIC search page, employ various search methods available to find the desired broker.

Step 5: Review the search results.

After initiating the search, review the results provided. Look for:

  • The registration status of the broker (active or inactive).
  • Any disciplinary history or regulatory actions associated with the broker.
  • Financial information pertinent to the broker’s operations.

While emphasizing U.S.-based Forex brokers offers the benefits of CFTC regulation and localized customer support, it’s essential not to overlook the potential advantages offered by reputable international brokers. Expanding your search globally can broaden your options in terms of trading conditions, features, and potential cost savings.

Key Factors to Consider When Choosing a Broker

Selecting the right online broker is crucial for a successful investing experience in the USA. Here are the essential factors to consider before opening an account:

1. Account Fees:

Commission structures:Research commission fees for your preferred investments (stocks, ETFs, options) and how they are charged (flat fee, per share, etc.).

Inactivity fees:Some brokers charge fees for accounts with no trading activity for a set period. Consider this if you plan to invest for the long term with minimal buying and selling.

Margin rates:If you plan on using margin for options trading or leveraging your investments, compare margin rates offered by different brokers.

2. Investment Products:

Stocks:Ensure the broker offers access to the US stock exchanges where you want to invest.

ETFs:Look for a wide range of Exchange-Traded Funds to suit your investment strategies.

Options Trading:If options trading is your focus, choose a broker with a robust options platform and educational resources. Charles Schwab and TD Ameritrade are popular options for options traders.

Mutual Funds:Some brokers offer a selection of no-load mutual funds with low expense ratios.

Fractional Shares:This feature allows you to invest in portions of high-priced stocks, a valuable option for beginners at firms like Fidelity.

3. Trading Platform:

Features:Consider the functionalities you need, such as charting tools, technical indicators, and fundamental analysis tools.

Ease of Use:A user-friendly platform is crucial, especially for beginners. Look for intuitive navigation and clear order placement options.

Research Tools:In-depth market analysis, analyst ratings, and news feeds can be valuable assets for making informed investment decisions. Platforms like Interactive Brokers cater to research-intensive investors.

Mobile App Functionality:Access to a well-designed mobile app allows you to monitor your portfolio and make trades on the go. Check the app’s features and user reviews before committing to a broker.

4. Account Minimums:

Starting Investment:Some brokers require a minimum deposit to open an account. This can range from $0 (offered by Fidelity and Charles Schwab) to a few thousand dollars. Consider your initial investment amount when selecting a broker.

5. Customer Service:

Accessibility:Look for brokers offering multiple channels for customer support, such as phone, live chat, and email.

Quality of Support:Research online reviews to gauge the responsiveness and helpfulness of a broker’s customer service team.

6. Educational Resources:

Tutorials:Beginner-friendly brokers often provide educational tutorials and webinars to help you learn the ropes of investing.

Investing Guides:Access to comprehensive guides on various investment topics can empower you to make informed decisions. Look for brokers like TD Ameritrade with a strong focus on investor education.


Selecting the best broker is a personal decision. Consider factors like your investment goals, experience level, and budget when making your choice. It’s also important to ensure your chosen broker is a member of the Securities Investor Protection Corporation (SIPC), which offers protection for your securities in case of broker failure. This is not an exhaustive list, and additional factors like bank account integration and retirement accounts might be important depending on your specific needs.

For a deeper understanding that can boost your trading success, explore our website where you’ll find in-depth reviews of forex proprietary trading firms.

Best Brokers in the USA - Find The Best Forex Prop Firm For You In Minutes (2024)


What is the best proprietary firm for forex? ›

  • FTMO. FTMO is a prop trading firm based in Prague, Czechia, and has been operating since 2015. ...
  • The Forex Funder. The Forex Funder is among the most popular prop trading firms globally. ...
  • E8 Markets. ...
  • True Forex Funds. ...
  • The 5%ers. ...
  • Funded Next.

Which prop firm should I use? ›

#1 – Funder Trading

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

Is FTMO the best prop firm? ›

FTMO Investment Options

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

What is the most reliable forex trading platform? ›

  • OANDA - Best US forex broker overall. ...
  • - lowest spread forex broker. ...
  • IG - best forex broker for beginner traders. ...
  • Interactive Brokers - best broker commission rates. ...
  • TD Ameritrade - best U.S.-based customer support. ...
  • eToro - best social and copy trading platform. ...
  • - good selection of currency pairs.
Dec 19, 2023

Which prop firm is the best in USA? ›

Best US Prop Firms
  • SurgeTrader – Best For Managing Big Capital Without Scaling.
  • My Funded FX – Best for Diverse Traders.
  • TradeDay – TradeDay is Best For Learning from Experts.
  • TopStep – Best For Trading Futures.
  • Earn2Trade – Best for Guided Futures Learning Paths.

Which prop firm is the most trusted? ›

Best Prop Trading Firms 2024 - Reviewed by Experts
  • Topstep.
  • The 5%ers.
  • Earn2Trade.
  • SurgeTrader.
  • FTMO.
  • E8.
  • City Traders Imperium.
  • Fidelcrest.
Feb 2, 2024

What prop firm has the fastest payout? ›

The fastest prop firm payout cycles are administered on a weekly basis. With Funding Traders, you can get paid out every 7 days – empowering you to access your hard-earned profits faster.

What is the best instant funding prop firm? ›

While FTMO stands out as the best overall prop firm, other options such as Fidelcrest, 5%ers, BluFX, Glow Node, Smart Prop Trader, FTUK, Instant Funding, and SurgeTrader also offer attractive features and benefits.

Are there any legit prop firms? ›

Yes, proprietary (prop) trading firms are real. They trade financial markets using their own capital.

Is FTMO available in USA? ›

Please note that FTMO does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.

Which prop firm has the lowest fees? ›

Best cheap forex prop firms
  • FTMO: evaluations starting at $399.
  • TopStepTrader: Challenges starting at $375.
  • T4tCapital: Flexible evaluation options starting at $299.
  • Funded Trading Plus: Starting at $25.
  • Earn2Trade: $99 Mini challenge.
  • True Trading Group: $49 evaluation with a $25,000 virtual account.
Feb 27, 2024

Do prop firms really pay? ›

There are three main types of prop trading firms: Churn and Burn – At these firms, you pay thousands of dollars for “training” and the privilege of trading a small amount of capital. You get no base salary, but you keep a huge percentage of your profits (well over 50%).

Which forex broker is best in USA? ›

Best Forex Brokers for 2024
  • IG - Best overall broker, most trusted.
  • Interactive Brokers - Great overall, best for professionals.
  • Saxo - Best web-based trading platform.
  • CMC Markets - Excellent overall, best platform technology.
  • - Excellent all-round offering.
  • TD Ameritrade - Best desktop platform, U.S. only.
Mar 30, 2024

What app do most forex traders use? ›

The best forex trading apps of 2024 in full:
  1. FXTM. An automated forex trading platform. ...
  2. Stock Trainer. A forex trading platform to practice with. ...
  3. ThinkTrader. Forex trading platform with analysis. ...
  4. MetaTrader. The popular forex trading platform. ...
  5. TD Ameritrade. One of America's biggest trading platforms for forex.
Feb 12, 2024

What do professional forex traders use? ›

A professional Forex chart technician uses price charts to analyze and trade the market. By trading with an EDGE in the market, professional traders can put the odds in their favor to successfully trade price movement from point A to point B.

What broker do professional Forex traders use? ›

Best Forex Brokers
Best Overall, Best for Range of OfferingsCMC Markets
Best Forex Broker for Advanced TradersSaxo Capital Markets
Best Forex Broker for Low CostsXTB Online Trading
Best Forex Broker for U.S. TradersIG
Best Forex Broker for Trading ExperiencesPepperstone
1 more row

What are the top 5 futures prop firms? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

What brokerage do most traders use? ›

Interactive Brokers continues to be our top pick for advanced day traders, as well. Its speed and efficiency specific to order execution complements its low rates on margin trading and provides advanced traders with a strong option to execute their strategies.

Which prop firm has the fastest payout? ›

Top Forex Firms Based on Pay-out Frequencies
  • Maven [5 days] Matching Funding Pips, Maven also offers pay-outs every 5 days, understanding the need to provide traders with frequent capital access. ...
  • Traddoo [7 days] ...
  • Funded Trading Plus [7 days] ...
  • Smart Prop Trader [12 days] ...
  • Summary.
Feb 14, 2024

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