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Top 5 forex brokers in the United States in 2022
- Interactive Brokers is the best forex broker in 2022 - Low trading fees. Wide range of products. Many great research tools.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
- Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
How did BrokerChooser select the best FX brokers?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fee, commission),
- Checked minimum deposit requirements,
- Opened an account and tested the platform (charting, features, usability, customer service).
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.
If you're interested in more forex brokers, read 40+ forex broker reviews.
Best forex brokers
Overview of the best forex brokers
While many forex trading brokers offer an excellent service, the ones in our toplist go the extra mile.
| Broker | FX Commissions per lot | Minimum deposit | Account activated in | Inactivity fee | Credit/debit card deposit |
|---|---|---|---|---|---|
| Interactive Brokers | Trade value less than $1 billion: 0.2 bps * trade value; min. $2 | $0 | 1-3 days | No | No |
| TD Ameritrade | No commission is charged | $0 | 1-3 days | No | No |
| Forex.com | No commission is charged | $100 | 1-3 days | Yes | Yes |
| Oanda | No commission is charged | $0 | 1-3 days | Yes | Yes |
| IG | No commission is charged | $0 | 1-3 days | Yes | Yes |
Best forex brokers
Forex spreads' comparison
In most cases, the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important forex spreads in the table below to help with your calculations.
| Interactive Brokers | TD Ameritrade | Forex.com | Oanda | IG | |
|---|---|---|---|---|---|
| EURUSD spread | 0.1 | 1.3 | 1.3 | 0.9 | 0.6 |
| AUDUSD spread | 0.1 | 1.6 | 1.3 | 1.4 | 0.6 |
| GBPUSD spread | 0.3 | 1.5 | 1.1 | 1.2 | 1.5 |
| EURCHF spread | 0.4 | 2.5 | 2.8 | 1.5 | 3.0 |
| EURGBP spread | 0.2 | 2.0 | 1.6 | 1.2 | 1.5 |
We collect spreads regularly, please check the tooltip for the date of the data collection.
If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.
Best forex brokers
Other fees at forex brokers
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| Interactive Brokers | TD Ameritrade | Forex.com | Oanda | IG | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
Best forex brokers
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And now, let's see the top forex brokers in detail one by one, starting with the winner, Interactive Brokers.
#1 Best forex broker
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.5 stars |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Currency pairs | 105 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2022 |
#2 Best forex broker
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| TD Ameritrade snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 4.8 stars |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Currency pairs | 140 |
| Inactivity fee | No |
| Read review | For a detailed analysis of TD Ameritrade services, check out our review for 2022 |
#3 Best forex broker
Forex.com
Recommended for forex traders looking for low fees and great research tools
| Forex.com snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 4.3 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal |
| Withdrawal fee | $0 |
| Currency pairs | 91 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Forex.com services, check out our review for 2022 |
#4 Best forex broker
Oanda
Recommended for forex traders who value a user-friendly platform and great research tools
| Oanda snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal fee | $0 |
| Currency pairs | 70 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Oanda services, check out our review for 2022 |
#5 Best forex broker
IG
Recommended for traders of any experience level looking for an easy-to-use trading platform
| IG snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Currency pairs | 205 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of IG services, check out our review for 2022 |
Best forex brokers
FAQ
Which are the top forex brokers in the world?
The top 5 forex brokers in the world in 2022:
- Saxo Bank - low forex fees and great trading platforms.
- Fusion Markets - low forex fees and a superb selection of currency pairs.
- CMC Markets - low forex CFD fees and an excellent account opening experience.
- Interactive Brokers - low forex fees and diverse research tools.
- Capital.com - no inactivity fee and rock-solid background.
How to find the best forex brokers?
The key aspects to consider when choosing a forex brokers is safety and access. Makes sure you always select a broker that is licensed or overseen by a top-tier regulator, such as the SEC in the US, the FCA in the UK or BaFin Germany. As a next step, check to see if the broker accepts clients from your country of residence.
Save yourself hours of research and check out our broker finder tool and find the best broker for you.
Want to understand forex trading in more detail?
Check out these articles written by our broker and trading experts:
