Forex brokers in the US are one of the most worlds, regulated brokers. They are regulated by the CFTC and the NFA (National Futures Association). Brokers must be registered with NFA to operate in the US. Besides, registering with NFA, a broker needs to comply with some strict regulations. The main Forex rules in the US are the Dodd-Frank Act enacted in 2010. The prohibitive forex rules and by NFA and CFTC made some forex brokers and traders to withdraw from the US market.
As a result, only a few forex brokers currently operate in the US and Forex.com is the Top brokerage company that withstands the stringent NFA regulations which impacts it with the highest level of trust. In 2017, for example, Forex.com FXCM transferred its US client to Forex.com and this additionally boosted the broker’s power in the US market.
While most brokers in the US relocated due to unfavourable operation rules, Forex.com, an American based forex broker remains resolute in its resolve to operate under the confines of the law. It is the subsidiary of the Gain Capital Holding Inc. headquartered in New Jersey, USA. It is also registered with CFTC operates under the NFA regulation.
The parent company, Gain Capital Holdings Inc., is publicly-traded in the New York Stock Exchange (NYSE: GAP). As a registered Futures Commission Merchant (FCM), clients can equally trade on metals and futures options besides currency pairs.
Forex.com is the only top brokers among brokerage firms in the US due to its strict adherence to the regulation and commitment to protect its clients’ data. Besides, the company has earned a great reputation due to its reliable operations for 20 years it has operated in the industry.
Forex.Com traders can access more than 80 currency pairs including the key currency pairs. It offers flexible leverage up to maximum leverage of 50:1. Traders on Forex.com can create varying types of account and the minimum opening deposit for the Standard account is 50 USD. The company doesn’t charge its clients commissions. Also, for the EUR/USD currency pair, the variable spread starts from as small as 1.2 pips.
Some of the reasons why Forex.com is one of the top-rated brokers
FOREX.com offers its clients fantastic trading experience. With the broker, you’ll enjoy reasonable pricing, full-featured trading platforms, loads of market research data, and a great mobile trading app.
Besides, because FOREX.com is publicly-traded on the NYSE, it makes its finance public and this is beneficial for the client’s safety. Forex.com operates under the regulation of four tier-1 forex regulators. These features make it safe and minimal risk to trade both forex and CFDs with the company.
FOREX.com recently got awarded the best among top 7 brokers for several trading categories such as investment offerings, Fees and Commissions, crypto trade, research resources, User-friendliness, Professional Trading, and an overall best broker.
Forex trading Fees and Commissions
Forex.com offers its users an easy-to-comprehend monthly trading volume-tiered discount pricing structure. FOREX.com charges a competitive variable spread and tight spreads for traders of crypto coin CFDs. They charge zero deposit and withdrawal fees.
FOREX.com provides more than 4,500 CFD instruments on its trading platforms like Web Trader, Advantage Trader web and desktop trading platform. It also offers more than 500 symbols on MetaTrader5 (MT5).
Platforms & Tools
FOREX.com offers its clients all the tools they need to succeed and these include Meta Trader 4 for Desktop traders and the company’s proprietary trading platform known as Web trader. Forex.com equally provides Advanced Trading and mobile trading platforms. The mobile app is one of the best in the forex industry due to easy to navigate interface and a lot of trading features like:
- Mobile research
- Mobile charting
- MetaTrader apps
Users also enjoy market analysis and properly structured education resources with segments for newbies, intermediate traders, and expert traders.
FOREX.com is one of the top brokers in the Forex industry and with reasons the only top Broker in the US company list for 2020. The company has gathered a lot of reputation in the market for its offers of great platforms, trading tools, research materials, and competitive pricing. While it hasn’t won an award for customer support, FOREX.com got rated as the in the Class broker for seven different main categories and overall best in 2020. The company is thus, among the most complete forex brokers. With its numerous offers, it is a trusted choice of both veteran traders and beginners alike.