The 8 best forex brokers in the USA

To be recognized as one of the best forex brokers in the USA, a brokerage needs to give you a large number of different currency pairs to trade with, as well as low spreads and minimal costs.

You’ll also need the tools to make those trades, so these leading brokers will support the best trading platform software available and provide you trade analysis and execution tools.

This will be supported with strong customer service channels and all the education resources you need to become a better trader.

But once you have put together a short list of different broker candidates, how do you decide which is the best for you? This list of top brokers for U.S.-based traders can help you narrow your options and make your choice.

Here are the top eight best brokers for U.S. traders, updated for 2025:

All these brokers listed are regulated by both the Commodity Futures Trading Commission (CFTC) and by the National Futures Association (NFA) making them suitable for U.S. traders. The sole exception is eToro, which is regulated by the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) within the USA. 

1. OANDA – Best US forex broker overall 

TradingView awarded OANDA as “Broker of the Year” – so it’s a worthy winner for this list. 

Reasons OANDA is highly rated include competitive commission-free spreads (which reduce your trading costs) and a large range of currency pairs. Support for top trading platforms like MetaTrader 4, its own OANDA Trade platform, and, of course, TradingView are other reasons that help push OANDA to number one.

A wide range of forex pairs

OANDA gives you 68 different forex pairs to trade with – among the largest number from any of the brokers appearing on this list. A wide range of pairs not only gives you more options, since some pairs are more volatile than others, but it also allows for diversification in your portfolio.

These 68 pairs include all of the majors (aka the most commonly traded currency pairs), minor and exotic pairs and cross pairs, too. 

If you’re a beginner trader, start by focusing on the most common currency pairs. As you gain more experience, you can explore new markets to expand your trading.

In addition to Forex, OANDA also works with Paxos, giving you access to cryptocurrency instruments. While Paxos and OANDA are separate companies, access to the Paxos iBit exchange via OANDA software allows you to trade popular currency pairs like Bitcoin, Ethereum and Litecoin.

Tight spreads with zero commission

Tight or low spreads are key to any analysis of a forex broker. It’s these spreads that are going to contribute the bulk of your trading costs, so it makes sense to look for a broker with tight spreads.

OANDA actually does very well here. While testing the most commonly traded forex pairs, analyst Ross Collins from CompareForexBrokers found that OANDA’s Standard Account came out with spreads 25% below the industry average.

And, often, the average spreads were even tighter. The typical industry spread on the AUD/USD pair, for instance, is 1.5 pips. With the OANDA Standard Account, the average is just 1.3 pips – a reduction of around 26.7%.

This is an average spread, of course, rather than a minimum. The spread on the AUD/USD pair can be as low as 1.1 pips. The EUR/USD, meanwhile, has a minimum of 1.4 pips (avg 1.5 pip). OANDA applies these values according to your order size – usually, the smaller the order size, the smaller the spread.

In the US, OANDA also offers Core Spreads + Commission pricing (similar to Raw style accounts). For example, the min spread on EUR/USD is 0.4 (average 0.5), and the commission is $5/100K units. These commissions are lower than OANDA’s nearest competitor, Forex.com, which charges $7/100K USD volume.

The broker’s team explains that they achieve lower spreads by sourcing their spreads straight from the banks themselves. In other words, there’s no internal liquidity created by the broker and no one at OANDA with the power to alter the pricing of your trades.

The reason no one at OANDA can change your trade pricing is because of their automated technology – which they have built themselves.

Trading tools and platforms

OANDA gives you a few platform options to choose from: MetaTrader 4 (MT4), OANDA Trade, and TradingView.

Each platform has its upsides and downsides, and choosing the right one depends on your trading strategy and style.

MetaTrader 4 features

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