StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.

Best US Forex Brokers 2022

Blain Reinkensmeyer

Written by Blain Reinkensmeyer, Steven Hatzakis
Edited by Carolyn Kimball
Fact-checked by Sam Levine

Last updated September 26, 2022
Published January 08, 2018

The StockBrokers.com best online brokers 2022 review, our 12th annual, took three months to complete and produced over 40,000 words of research. Here's how we tested. Our editorial content is independent and unbiased; here's how we make money.

The foreign exchange market is more active than any other financial market in the world, with over $5 trillion swapping hands every day. This guide is focused on assisting US traders in finding the best forex broker for their style of trading.

We break down the best us forex brokers for commissions & spreads, trading platforms, execution, and overall quality. All of the top forex brokers we cover are regulated and licensed in the US by the National Futures Association (NFA) and meet a strict set of criteria, ensuring protection from forex scams.

For a more in-depth comparison of top US brokers, or if you are trading outside of the US, visit our sister site ForexBrokers.com. Our annual FX Broker Review covers the top brokers for 2022, with over 50,000 words of research and 5,000+ data points spanning 30 firms.

Best US Forex Brokers 2022

  • IG
    - 5 Stars - Best Overall
  • TD Ameritrade - 5 Stars - Currency trading with thinkorswim
  • FOREX.com
    - 4.5 Stars - Best for ease of use
  • Interactive Brokers
    - 4.5 Stars - Best for professionals
IG
starstarstarstarstar Overall

Best Overall

As an early pioneer in offering contracts for difference (CFDs) and spread betting, IG was founded in 1974 and has grown to be a global leader in the online trading industry. IG is a London-based public company listed on the London Stock Exchange’s FTSE 250 (LON: IGG).

TD Ameritrade
starstarstarstarstar Overall

Currency trading with thinkorswim

TD Ameritrade's desktop trading platform, thinkorswim, offers an impressive combination of both design and functionality. The platform has virtually anything you could want, including live CNBC TV, trade alerts, real-time scanning, and practically every technical indicator under the sun for charting. Read full review

FOREX.com
starstarstarstarstar_border Overall

Best for ease of use

Forex.com (Gain Capital) is known for providing forex traders a well-rounded offering. Like TD Ameritrade and Interactive Brokers, it is also publicly traded and offers FX traders a large variety of trading tools. Beyond offering its own proprietary trading platform, Forex.com also offers MetaTrader4 (MT4) to customers, making it an ideal choice for investors of all experience levels.

Interactive Brokers
starstarstarstarstar_border Overall

Best for professionals

Professional currency traders should consider Interactive Brokers. Interactive Brokers is well-known in the U.S. stock and options industry as an active trading broker. IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP (assets of over $10 MM or $5 MM if trades are hedging). Read full review

Winner: IG

IG logo

  • Total Forex Pairs Offered: 91
  • Likes: Comprehensive research tools and real-time exchange data; Broad range of markets, currency pairs, and multi asset CFDs (including cryptocurrencies); Licensed in major regulatory jurisdictions; Competitive commission-based pricing and spreads on forex.
  • Dislikes: Web platform trading windows must be resized manually to keep the layout organized; Forex Direct only available to professional traders within EU.
  • Bottom Line: Forex and CFD traders looking to trade a large number of instruments across multiple asset classes, including exchange-traded securities on international exchanges, will find IG offers an extensive range of tradable products on its platforms.
  • Read IG forex review

Runner-Up: TD Ameritrade

TD Ameritrade logo

  • Total Forex Pairs Offered: 75
  • Likes: Powerful desktop charting that syncs with mobile; Wide array of premium research and trading tools through thinkorswim platform; Futures and options trading on forex and bitcoin futures.
  • Dislikes: Forex only available to US residents; No web-based platform offered for forex; Platform complexity may deter beginners.
  • Bottom Line: For US-based investors and traders, TD Ameritrade’s thinkorswim platform is a sophisticated multi-asset desktop experience optimized for securities trading, including off-exchange spot forex and exchange-traded options and futures (including Bitcoin).
  • Read TD Ameritrade forex review

Podium Finisher: Forex.com

Forex.com logo

  • Total Forex Pairs Offered: 84
  • Likes: Licensed in highly regulated jurisdictions; Advanced charting capabilities in both desktop and web platforms; Platforms feature numerous channels of research content and trading ideas; Offers Cryptocurrency CFDs in the UK, and Bitcoin Futures in the US.
  • Dislikes: MT5 not yet rolled out; Ceased business of regulated activities in Hong Kong.
  • Bottom Line: FOREX.com has plenty of options for Forex and CFD traders across its regulated offerings globally. With full-feature platforms, diverse trading tools, and comprehensive research, FOREX.com caters to traders of all experience levels.
  • Read Forex.com forex review

Professional Forex: Interactive Brokers

Interactive Brokers logo

Professional currency traders should consider Interactive Brokers. Interactive Brokers is well-known in the US stock and options industry as an active trading broker. IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP, "An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)." Read full review

  • Total Forex Pairs Offered:115
  • Likes: Regulated in major jurisdictions and publicly traded; Extensive range of global markets and asset classes; Bitcoin futures trading supported; Competitive fees and discounts for high-volume traders.
  • Dislikes: Retail spot forex only offered to non-U.S. clients; Desktop platform too complex for inexperienced traders; Web platform lacks forex charts; Monthly minimum activity charges.
  • Bottom Line: Professional traders and highly experienced investors looking for a complete multi-asset forex broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.
  • IMPORTANT: To trade forex with Interactive Brokers in the United States, you must be classified as an ECP, "An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)."
  • Read Interactive Brokers forex review

Compare US Forex Brokers at ForexBrokers.com

Compare IG vs TD Ameritrade vs Forex.com vs Interactive Brokers side by side and view an industry-leading comparison based on over 100 different data points.

US forex brokers comparison IG, Forex.com, TD Ameritrade, Interactive Brokers

Read Next

Explore our other online trading guides:

Was this helpful?
Yes or No

About the Author

Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.


Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.


Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.


Sam Levine
Sam Levine

Sam Levine is a longtime writer, investor and educator with nearly three decades of experience in the investing industry. His specialty is making even the most complicated investing concepts easy to understand for beginning and intermediate investors. He holds two of the most widely recognized certifications in the investment management industry, the Chartered Financial Analyst and the Chartered Market Technician designations. Previously, he was a contributing editor at BetterInvesting Magazine and a contributor to The Penny Hoarder and other media outlets.


close