Forex trading is a popular and profitable way to invest in international markets. However, many people don’t know where to start because they cannot afford some brokers’ high minimums. Fortunately, there are some great forex brokers in the USA that offer low minimums and competitive spreads. This article will find a list of the best forex brokers in USA based on expert trader reviews like forex liquidity provider.
Best Forex Broker in the USA
Tier 1 – Safe Forex Broker
This is a large group of brokers that is, for the most part, the top tier in the forex market. You can also find some of these brokers in the United Kingdom, but most of them are American and come from well-known brokers. Most of the popular brokers are featured in Tier 1.
eToro
One of the top brokers in the U.K., eToro is one of the best forex broker in USA. Unfortunately, this is one of the few brokers that doesn’t offer international currency trading. However, eToro allows its traders to invest in several exchange-traded funds (ETFs). Some of the popular ETFs that eToro supports include the SPDR Gold Trust ETF (NYSEARCA: GLD), the iShares MSCI EAFE ETF (NYSEARCA: EFA), and the iShares Core MSCI EAFE ETF (NYSEARCA: IEFA).
These are the best forex brokers in the USA, in alphabetical order.
Bank Of America N.A.
Bank of America is one of the oldest and largest banks in the USA. The bank is known for its automated trading platform, USA. Bancorp, and is one of the fastest-growing brokerages in the USA. The bank offers the lowest rate in the industry, and all of its trading products are available for free. Bank of America does not offer margin trading or other advanced trading features, but it has the lowest minimum in the industry.
Advantages
Low minimums: The bank only requires you to deposit $100 per week, which means you can open an account with this company and begin trading with as little as $100.
Free trading: The bank offers free trading on all of its tools and platforms.
Low Minimums and Competitive Pricing
Of course, all brokers have different minimum account values. Some have $1,000 minimums, while others require $10,000 or more. However, most brokers have a minimum investment of only $5,000 or less. It can be a huge saving for many investors who would otherwise invest at minimums in the major forex brokers.
High Margins and No Downside
The other advantage of trading forex is that it’s highly profitable if it is knowledgeable about the market. Because there are hundreds of different currencies available to trade, there are a lot of choices. Because of this, there is little reason to be unhappy with high spreads. It is another thing that makes forex trading a great way to invest and make a large amount of money.
Expert Trader Reviews
You have to be careful with your money when investing in forex. While some brokers are much more expensive than others, some are also much less expensive. That’s why it’s important to find the right broker for you. The best brokers offer competitive spreads and low minimums. However, it’s also important that you do your homework to ensure that you’re comparing like to like.
The information in this guide is derived from the best broker reviews around. There are many brokers out there, and you must review the numerous different brokerages available. Moreover, it would help if you verified that the broker you are considering is a member of their affiliate program. It is an important factor because you can get a commission for referring others.