Best Forex Brokers in the US
When speaking of financial trading and when making reviews of concrete Forex brokers, all of you might have observed the trend to always mention the USA traders. Indeed, they are not in a very cool position, when it comes to looking for a good and decent broker for financial trading. This is due to the regulation in the States, as well as to all the laws that refer to this activity. Such a trend makes many traders from USA to give up from trading, but this should not happen. There are many USA Forex brokers they can lean on and rely on, so we are trying today to explain you more about this situation. For this reason, we would like you to focus and to discover the essence behind the USA Forex brokers now. Let`s get started and let`s learn some significant information about these trading platforms. It will be by all means useful to all of you.
Some basic specific facts about USA Brokers
There’s nothing really strange or uncommon about USA forex brokers. In fact, most operate in pretty much the same way as the Australian, and Cyprus-based operations as well as the other popular brokers on the web in other jurisdictions such as UK and further afield.
As with all industries there are great companies and poorer ones, as well as a large number of scam sites to avoid. We strongly recommend you to choose Forex brokers in USA that are recommended on this site as they have all been editorially selected by our team.
The USA has its own laws regarding which citizens have the right to open an account with USA Forex brokers, which are not regulated by the two main regulatory bodies in the country. The only chance to bypass this restriction is for the trader to have net actives that are above 10 million USD. Another restriction at US Forex brokers is the fact that all of them have anti-hedging program of measures. It is also interesting to note that most USA Forex brokers have little leverage – not more than 50:1 in most cases.
Top US Forex Brokers Brokers In 2019
How about the USA regulation for Forex brokers?
Till the first years of the 21st century Forex trading and Forex brokers in USA were not regulated at all. Everything changed in 2008 year, when the 2008 Farm Bill was integrated as an official law act that puts important rules in this financial activity. Later, in 2010, the Dodd-Franc Wall street Reform Act of 2010 settled down the things even more specifically. Though, all the Forex brokers in USA, as well as the market here changed completely with the opening of the two official – up to now – regulation bodies. Since then, the two agencies take the control of the entire Forex trading activity in USA and for USA-based citizens.
- 1. National Futures Association
Known by the abbreviation of NFA across the Forex audience, the National Futures Association was at first the only body that gives official permissions and licenses to the USA Forex brokers. Today, it has yet such powers, but it also applies the significant and obligatory standards for all the Forex brokers in USA. Safety for clients – connected with the financial transactions and the personal data – is also taken by the NFA, too, and such cases can be opened according to specific procedures, too. Compliances and electronic fillings are options, which are available on the official NFA website, as well.
- 2. Commodity Futures Trading Commission
The Commodity Futures Trading Commission or the CFTC works to preserve the transparency, loyal competitiveness and financial stability to all the Forex brokers in USA. The procedures and measures this commission takes are all focused on the better trading processing, as well as on minimizing the systemic risk. The CFTC is also in charge to promote market integrity and to stop any act of violation or abuse. However, finding and charging frauds is the main mission that the Commodity Futures Trading Commission follows in its general work. Last, but not least, the CFTC is obliged to publically inform people about its actions – including about began investigation for a suspicious Forex brokers USA.
Discover the great options all those USA Forex brokers promise and provide you now. Go out in the web and search for the broker that will suit your needs and see if there is a good possibility for you to make financial trades regardless the fact you are an American citizen, who is usually limited by so many laws and restrictions. There is a way for you to determine a decent broker with no limits, so start your trial on such a trading platform now and tell us on mandatory what you think about these websites! Good luck, guys!