Hey everyone! I’m looking for recommendations on forex brokers that accept US traders. I’ve been trying to find a good platform but having trouble. I attempted to use one broker by switching my location settings but that didn’t work out. Does anyone know of reliable brokers that support MetaTrader 5 and allow US customers? Any suggestions would be really helpful. Thanks!
Stick with OANDA for simple trading options.
Interactive Brokers is decent but the interface has a learning curve. Withdrawals are fast, though leverage is capped pretty low.
Your options are pretty limited in the US. OANDA, Forex.com, and Interactive Brokers are basically it for legit trading. They’re stuck following CFTC rules, so you’re looking at major pairs and way lower leverage. Don’t expect much MT5 access either since most US brokers just use their own platforms. IB’s TWS is decent if you’re serious about trading. Stay away from those offshore brokers saying they’ll take US clients. Trust me, the regulatory headaches aren’t worth it and you’ll get screwed on withdrawals down the road.
Been trading from the US for 6 years. TD Ameritrade (now Charles Schwab) has been solid - decent spreads and reliable execution. Tested OANDA for about 8 months too. Platform’s weird at first but fills are clean.
MT5? Forget it. US regulations killed that.
Only use CFTC regulated brokers. Learned this the hard way when some offshore broker froze my account for 3 weeks. The 50:1 leverage limit sucks but beats losing your money to sketchy operations.
Want higher leverage? Try futures instead. Same currency exposure, way more flexibility.