best fx traders

US CFD traders enjoy access to the same comprehensive suite of charts and calculators as their international counterparts, including Smart Signals, performance analytics and advanced charts powered by TradingView. One downside for American traders is that many top forex brokers are based in the U.K. While you may be familiar with many of the brand-name online stock brokers, only some of them deal in forex trading. Instead, a plethora of more specialized niche brokers populate the space, and they may cater to high-volume currency traders looking for every possible edge. The forex markets exist as spot markets, as well as derivatives markets, offering forwards, futures, options, and currency swaps.

Catering to a diverse clientele, TD Ameritrade also offers multilingual customer support, including services in Spanish and Mandarin. For those who prefer in-person interactions, you can visit one of TD Ameritrade’s 175 branches across the U.S. during office hours. TD Ameritrade’s customer support is accessible 24/7 through a variety of channels. You can reach out via live chat, engage with support teams on social media platforms like Facebook and Twitter, send a fax or make a phone call. The broker’s commitment to innovation and user experience, particularly in mobile trading, has not gone unnoticed in the FinTech sector.

Risk and Reward in Forex Trading

First, test each strategy via backtesting, which can be done with the popular MetaTrader forex platforms if you have modest programming skills. You’ll also want to select a strategy that best suits your lifestyle and personality type — not everyone wants to watch trading screens all day or is suited for the stress of fast-paced or high-risk strategies. Traders Union, or TU, stands as a leading financial portal formed by Forex traders with decades of market experience.

For those looking to delve into the world of social trading while gaining access to extensive trading tools, the broker’s TradingView Account may be better suited. In total, up to 800 financial instruments can be traded with five major asset classes available. This includes over 40 forex pairs, commodities like gold and silver, indices from global stock markets, shares like Apple and Google, and over 100 crypto derivatives.

What are the top 10 forex brokers?

Swing traders might also buy ahead of support or sell before resistance levels that develop on the charts of the exchange rate for a currency pair. Both options can be traded online or by app, in addition to third party platforms including MetaTrader 4 and 5, TradingView and cTrader. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

best fx traders

While the drop in the pound was bad news for UK holidaymakers heading across the pond, forex traders braved the volatility to boost their potential gains. Forex trading hit a record daily high of $7.5 trillion in 2022, according to the Triennial Central Bank Survey. The course is self-paced, allowing students to take an individualized approach to learning. For that reason, we selected FX Academy as the best free option for a Forex trading class.

What are the best trading platforms for U.S. Forex traders?

It’s notable for being the inaugural financial services platform to secure licenses from both the National Futures Association and the Commodities Futures Trading Commission. While some might label IBKR as merely a ‘discount’ broker, our experience with them paints a different picture. Indeed, IBKR has rolled out an impressive suite of trading tools for US account holders. Their low trading costs didn’t compromise the quality of our trading environment. They presented us with a commendable collection of tradable assets and the standard tools we expect for analysis, charting, and market research. This top broker’s CFD account charges no commissions and offers good leverage, making it an excellent option for traders of all experience levels.

  • On the other hand, if you’re an active trader seeking tight spreads, then the Raw Pricing account may be a better fit.
  • We liked eToro’s unique approach, which blends a touch of gamification with comprehensive educational support for new traders.
  • Forex trading in general isn’t where we’d suggest beginner investors get started — if you’re brand new to investing, check out our list of the best brokers for beginners.
  • Nevertheless, we found some distinctive features on the platform worth our attention.
  • This category of forex traders makes use of a variety of methods to make proper trading decisions that lead to success.
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 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. – good selection of currency pairs

Students can access 24/7 instructor support and a vibrant chat room where all members can interact with Vladimir. The first stop for new traders is the trading academy educational courses delivered by highly experienced professional Forex traders. The content starts with the basics and gradually advances to the technical aspects of trading. was founded in 2012 by Nick McDonald, a leading independent trader and financial educator with a global following. At its core, ForexSignals is a hub for knowledge and learning in the Forex industry. These top brokers were chosen for this review for various reasons depending on the specific category in which we felt they excelled.

best fx traders