5 Best CFTC Regulated Forex Brokers

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The CFTC (Commodity Futures Trading Commission) is an independent US government agency that regulates the futures, options, and swaps markets. Its primary mission is to protect market users and the public from fraud, manipulation, and abusive practices related to these markets. The CFTC was created in 1974 as a successor to the Commodity Exchange Authority and operates under the Commodity Exchange Act.

As part of its regulatory responsibilities, the CFTC registers and oversees futures commission merchants (FCMs), commodity pool operators (CPOs), commodity trading advisors (CTAs), and introducing brokers (IBs). It also has the authority to take legal action against market participants who engage in fraudulent or manipulative activities, as well as to establish rules and regulations for the markets it regulates.

Forex brokers that operate in the US and offer trading in futures or options contracts are required to be registered with the CFTC and become members of the National Futures Association (NFA), which is a self-regulatory organization overseen by the CFTC. CFTC regulation helps to ensure that traders have access to fair and transparent markets and that brokers are held to high standards of ethical and professional conduct.

Here are the 5 best CFTC regulated forex brokers:

  1. OANDA Corporation
  2. FOREX.com
  3. Interactive Brokers LLC
  4. City Index
  5. IG US LLC

It’s worth noting that the CFTC regulates forex brokers in the United States, and they have specific requirements that these brokers must meet to be licensed. The above brokers are all CFTC-regulated, which means they adhere to strict guidelines and have undergone thorough background checks to ensure they are trustworthy and operate with integrity.

OANDA Corporation

OANDA Corporation USA is a renowned forex broker that has been operating in the industry for over two decades. The broker is regulated by the CFTC and the NFA, ensuring the highest level of safety and security for its clients. OANDA Corporation USA offers a wide range of trading products, including forex, CFDs, commodities, and indices.

Minimum DepositUSD 0
RegulatorsASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading DeskMetaTrader 4, MetaTrader 5
HeadquartersToronto, Canada
Visit BrokerOANDA

Pros:

  • Low trading fees
  • No minimum deposit requirements
  • Advanced trading platform with multiple features
  • Excellent customer support available 24/7
  • Regulated by multiple regulatory bodies

Cons:

  • Limited research and analysis tools compared to some other brokers
  • Limited educational resources for beginners

Overall, OANDA Corporation USA is a great choice for traders who are looking for a reliable and trustworthy broker with low fees and an advanced trading platform. The broker’s excellent customer support is another notable advantage, making it a top pick for both novice and experienced traders alike.

FOREX.com

FOREX.com is a highly reputable forex broker that is regulated by the CFTC and the NFA. The broker has been in operation since 2001 and offers a wide range of trading products, including forex, indices, commodities, and cryptocurrencies. FOREX.com offers advanced trading platforms and tools, making it a great choice for both novice and experienced traders.

Minimum DepositUSD 0
RegulatorsASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading DeskMetaTrader 4, MetaTrader 5
HeadquartersToronto, Canada
Visit BrokerFOREX.com

Pros:

  • Low trading fees
  • Access to multiple trading products
  • Advanced trading platform with multiple features
  • Excellent research and analysis tools
  • Regulated by multiple regulatory bodies

Cons:

  • Higher minimum deposit requirements
  • Limited customer support options compared to some other brokers

Overall, FOREX.com is a great choice for traders who are looking for a reliable and trustworthy broker with advanced trading tools and excellent research and analysis resources. The higher minimum deposit requirements may not be ideal for beginners, but more experienced traders will appreciate the broker’s low fees and diverse range of trading products.

Interactive Brokers LLC

Interactive Brokers LLC is a highly reputable forex broker that has been operating in the industry for over four decades. The broker is regulated by the CFTC and the NFA and offers a wide range of trading products, including forex, stocks, options, futures, and more. Interactive Brokers LLC is known for its advanced trading platforms and tools, making it a top choice for professional traders.

Minimum DepositUSD 0
RegulatorsASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading DeskMetaTrader 4, MetaTrader 5
HeadquartersToronto, Canada
Visit BrokerInteractive Brokers

Pros:

  • Low trading fees
  • Access to multiple trading products
  • Advanced trading platform with multiple features
  • Excellent research and analysis tools
  • Regulated by multiple regulatory bodies

Cons:

  • Higher minimum deposit requirements
  • Limited educational resources for beginners
  • Platform can be overwhelming for some traders

Overall, Interactive Brokers LLC is an excellent choice for professional traders who are looking for an advanced trading platform with low fees and a wide range of trading products. The broker’s research and analysis tools are also highly impressive, making it a great choice for traders who rely on data to make informed decisions. However, the platform can be overwhelming for beginners, and the higher minimum deposit requirements may not be ideal for those who are just starting out.

City Index

City Index is a leading forex broker that is regulated by the CFTC and the NFA. The broker has been in operation since 1983 and offers a wide range of trading products, including forex, CFDs, indices, commodities, and more. City Index is known for its advanced trading platform and excellent research and analysis tools, making it a great choice for both novice and experienced traders.

Minimum DepositUSD 250
RegulatorsCFTC, NFA
Trading DeskMetaTrader 4, MetaTrader 5
HeadquartersUnited States
Visit BrokerCity Index

Pros:

  • Low trading fees
  • Access to multiple trading products
  • Advanced trading platform with multiple features
  • Excellent research and analysis tools
  • Regulated by multiple regulatory bodies

Cons:

  • Higher minimum deposit requirements
  • Limited customer support options compared to some other brokers

Overall, City Index is a great choice for traders who are looking for a reliable and trustworthy broker with low fees and an advanced trading platform. The broker’s excellent research and analysis tools are also highly impressive, making it a great choice for traders who rely on data to make informed decisions. The higher minimum deposit requirements and limited customer support options may not be ideal for beginners, but more experienced traders will appreciate the broker’s advanced features and resources.

IG US LLC

IG US LLC is a subsidiary of IG Group, a global leader in online trading. It is regulated by the CFTC and the NFA and offers Forex, CFDs, and other financial instruments to US-based traders.

Minimum DepositUSD 250
RegulatorsCFTC, NFA
Trading DeskMetaTrader 4
HeadquartersUnited Kingdom
Visit BrokerIG US LLC

Pros:

  • IG US offers a wide range of financial instruments, including Forex, indices, commodities, and cryptocurrencies.
  • The platform has a user-friendly interface and a variety of educational resources for traders, including webinars and a news and analysis section.
  • IG US has a reputation for reliability and customer support.

Cons:

  • IG US has relatively high spreads compared to some other Forex brokers.
  • The platform may not have as many advanced features and tools as some other platforms.

Overall, IG US is a reputable and trustworthy Forex broker that offers a variety of financial instruments and a user-friendly trading platform. Traders who prioritize customer support and educational resources may find IG US to be a good fit for their needs. However, those who are seeking lower spreads or more advanced features may want to consider other options.