If you live in the United States, the choice of forex broker is narrower than in most countries: only firms registered with US regulators can serve you, and the rules on leverage, CFDs and hedging are stricter. This OpenBook guide explains what that means in practice, lists two CFTC-registered, NFA-member forex dealers with their NFA IDs, and shows how to check any broker yourself. Educational content only; not investment, trading or legal advice.
Affiliate disclosure: OpenBook currently has no commercial relationship with the brokers listed on this page and earns nothing from these links. We may join their affiliate programmes in the future; if we do, we may earn a commission when you open an account through a link on this page, and we will update this notice before that happens. Brokers do not pay to be included and do not review this page.
Independence: OpenBook is not affiliated with or an official channel of any broker listed.
Availability: Broker availability depends on your country of residence. Some brokers listed do not accept US residents, and CFDs are not available to retail clients in the United States. Always check that a broker is licensed to serve you (for US forex: CFTC-registered and an NFA member) before opening an account.
Who can offer forex trading to US residents?
Retail forex in the US is overseen by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), the industry's self-regulatory organization. A firm that offers forex trading to US retail clients must be registered with the CFTC, usually as a retail foreign exchange dealer (RFED) or a futures commission merchant (FCM), and must be an NFA member.
Many well-known international brokers serve clients elsewhere through non-US entities and do not accept US residents. A broker's global brand is not enough: what matters is whether the specific entity that would hold your account is registered in the US.
Key US forex rules to know
- Leverage caps — Retail leverage is limited to 50:1 on major currency pairs (such as EUR/USD, GBP/USD and USD/JPY) and 20:1 on other pairs. Higher leverage advertised by offshore brokers is not available from US-registered dealers. More leverage means more risk: leverage magnifies losses as well as gains.
- No CFDs for retail clients — CFDs are not available to US retail traders. US dealers offer spot forex; other markets are usually accessed through exchange-traded futures, options, ETFs or shares.
- FIFO — When you have several positions in the same currency pair in the same account, they must be closed first-in, first-out.
- No hedging in the same account — You cannot hold a long and a short position in the same currency pair at the same time in one account.
Rules can change. Check the CFTC and NFA websites for current requirements.
CFTC-registered forex dealers for US residents
The firms below are registered with the CFTC and are NFA members, based on each broker's official US website and its NFA BASIC record, checked on 1 October 2026. They are listed alphabetically. This is not a ranking, a rating or a personal recommendation, and it is not a complete list of US-registered dealers. Always verify the entity in NFA BASIC yourself before opening an account.
Affiliate disclosure: OpenBook currently has no commercial relationship with the brokers listed on this page and earns nothing from these links. We may join their affiliate programmes in the future; if we do, we may earn a commission when you open an account through a link on this page, and we will update this notice before that happens. Brokers do not pay to be included and do not review this page.
FOREX.com
CFTC registered · NFA member
- US legal entity
-
GAIN Capital Group LLC (doing business as FOREX.com)
A wholly owned subsidiary of StoneX Group Inc.
- Regulator status
- Registered with the CFTC as a futures commission merchant (FCM) and retail foreign exchange dealer (RFED); NFA member.
- US office
- Warren, New Jersey
- US rules that apply
- Retail leverage up to 50:1 on major pairs and 20:1 on other pairs (the broker may set lower limits); FIFO and no hedging in the same account; spot forex only, no CFDs for US retail clients.
More leverage, more risk. Forex trading involves significant risk of loss and is not suitable for all investors.
OANDA
CFTC registered · NFA member
- US legal entity
-
OANDA Corporation
- Regulator status
- Registered with the CFTC as a futures commission merchant (FCM) and retail foreign exchange dealer (RFED); NFA member.
- US office
- New York, New York
- US rules that apply
- Retail leverage up to 50:1 on major pairs and 20:1 on other pairs (the broker may set lower limits); FIFO and no hedging in the same account; spot forex only, no CFDs for US retail clients.
More leverage, more risk. Forex trading involves significant risk of loss and is not suitable for all investors.
Spreads, fees, minimum deposits, platforms and account terms change and are not covered here. Read them on the broker's own US website and in its customer agreement before you decide.
How to check a forex broker yourself on NFA BASIC
- Find the legal name of the broker's US entity and its NFA ID, usually shown in the website footer or the account agreement.
- Search that name or ID in NFA BASIC. Confirm it is an approved NFA member registered as a forex dealer or FCM, and read any regulatory actions listed.
- Make sure the account you are opening is with that US entity, not an overseas affiliate of the same brand.
- Start with a small deposit and test a withdrawal before committing more money.
Do this even for the firms listed on this page: registrations can change after we last checked.
More OpenBook guides
How to choose a broker →
Forex brokers compared (international, not for US residents) →
This page: OpenBook currently has no commercial relationship with the brokers listed on this page and earns nothing from these links. We may join their affiliate programmes in the future; if we do, we may earn a commission when you open an account through a link on this page, and we will update this notice before that happens. Brokers do not pay to be included and do not review this page. Other OpenBook pages may contain affiliate links. See Affiliate disclosure and Risk disclosure.
