The United States maintains one of the most stringent regulatory environments for forex trading. Only a handful of forex brokers are legally permitted to operate in the US, and they must be registered with both the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). This article reviews the top forex brokers regulated in the US in 2025, comparing them based on compliance, costs, platforms, and trader support.
How forex regulation works in the United States
US forex brokers must comply with:
- CFTC registration – Requires financial transparency and large capital reserves
- NFA membership – Enforces strict trading rules, client fund segregation, and audit standards
- FIFO rule – First In, First Out execution model for open positions
- No hedging – Hedging is not permitted under US retail trading rules
- Leverage caps – 1:50 max on major pairs, 1:20 on minors and exotics
These regulations aim to protect retail traders but limit flexibility compared to global brokers.
Top CFTC and NFA-regulated forex brokers in 2025
1. OANDA US – Most trusted US forex broker
- Regulators: CFTC, NFA (#0325821)
- Leverage: Up to 50:1 (majors)
- Spreads: From 1.0 pips (EUR/USD average)
- Platforms: OANDA Trade, MT4
- Minimum deposit: None
- Best for: Transparent pricing and advanced charting
- Key strength: Long-standing reputation + no minimum to start
2. Forex.com (GAIN Capital) – Largest US forex broker
- Regulators: CFTC, NFA (#0339826)
- Leverage: 50:1 majors, 20:1 minors
- Spreads: From 1.2 pips (EUR/USD)
- Platforms: Forex.com platform, MT4
- Minimum deposit: $100
- Best for: Customisable tools and educational resources
- Key strength: Owned by StoneX Group, strong capital backing
3. IG US – Best charting and multi-asset broker
- Regulators: CFTC, NFA (#0509630)
- Leverage: Up to 50:1
- Spreads: From 0.8 pips (EUR/USD)
- Platforms: IG web platform, ProRealTime, MT4
- Minimum deposit: $250
- Best for: Technical traders needing advanced charting tools
- Key strength: Broad market access + educational support
US forex broker comparison
| Broker | Regulator | Platform Support | Min. Deposit | Spreads From | Best For |
|---|---|---|---|---|---|
| OANDA US | CFTC, NFA | MT4, OANDA Trade | $0 | 1.0 pips | Beginners + pricing transparency |
| Forex.com | CFTC, NFA | MT4, Forex.com Web | $100 | 1.2 pips | Tools + broad forex education |
| IG US | CFTC, NFA | MT4, ProRealTime, IG Web | $250 | 0.8 pips | Charting + professional tools |
Limitations of US-regulated brokers
While US regulation ensures high client safety, traders must deal with:
- No hedging or scalping loopholes
- FIFO enforcement on position management
- No crypto CFD trading
- Limited leverage compared to global counterparts
- Fewer brokers to choose from
These constraints prioritise safety over flexibility.
Key takeaways
- OANDA, Forex.com, and IG US are the only major CFTC- and NFA-regulated forex brokers in 2025
- All offer up to 1:50 leverage, segregated funds, and full compliance with US retail forex rules
- US brokers must enforce FIFO and prohibit hedging, unlike offshore competitors
- Spreads are slightly wider than global ECN brokers but backed by strong regulation
- Choose based on platform features, education, and funding methods for US residents
Frequently Asked Questions
Which forex brokers are regulated in the US?
OANDA US, Forex.com, and IG US are fully regulated by the CFTC and are NFA members, making them legal forex brokers for US residents.
Can US traders use offshore forex brokers?
No. US residents are prohibited from trading with offshore brokers not registered with the CFTC and NFA.
What is the leverage cap for US forex brokers?
US-regulated brokers offer up to 1:50 leverage on major currency pairs and 1:20 on minors and exotics.
Is hedging allowed with US forex brokers?
No. US rules prohibit hedging for retail accounts due to the FIFO (First In, First Out) rule.
Do US forex brokers require a high minimum deposit?
No. OANDA offers accounts with no minimum deposit, while others like Forex.com and IG US start from $100–$250.
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