1.       Oanda

Oanda is a United States based Forex broker with offices in Canada, Europe, Asia-Pacific and Australia. Each location is backed by credible regulation agencies. They offer a web platform and a desktop platform. The web platform is awesome, easy to use and they also use trading views charting. I think everything looks extremely professional and love that I am able to save my charts within the platform. A lot of platform scan seem overly cluttered, so I love the simple setup with Oanda. The top has your charts and down below has your trade activity, positions, and orders.  The account summary can also be hidden so that the charts will take up the whole screen. Oanda mobile platform is hard to compete with!  Thereare many great features with the app and everything looks very clean. Placing positions is simple and I can also see pip value, profit potential on my take profit,loss potential on my stop loss, margin used, and a lot more! A very interactive app and easily maneuverable by a beginner. Both the app and web/desktop platforms have the Dow Jones news wire where you have access to fast economic data and calendars. Aside from the analytics, I have experienced fast customer service with Oanda's 24/6 chat. All of my deposits and withdrawals were smooth and experienced no problems. Overall I think Oanda is an amazing platform when it comes to analytics, customer service, cost, and the fact that it is regulated in the U.S.A. If your country of residence is permitted with Oanda, I would highly recommend it!


2.       Forex.com

Forex.com, also known as Gain Capital, is another regulated broker in the U.S.A. They are another trustworthy broker. A lot of brokers are integrating trading views charting into their trading platforms. Similar to Oanda, Forex.com does have their own desktop platform.The desktop platforms are usually the brokers own proprietary trading platform.There is more customization for the trader. Forex.com and Oanda's web platforms look very similar with the setup and trading view chart integration. I always preferred the web based platforms. Since a lot of the U.S.A brokers are regulated and incorporate similar charting platforms, a lot of it will comedown to cost, and personal preference. The mobile app is not as cool looking as Oanda’s, but will definitely get the job done! When it comes to pricing, three different pricing tiers are offered; standard, commissions and direct market access. Standard includes variable spreads, with no commissions. The total trading cost for 100k is $10:10. Commissions is low variable spreads with $5 commission per 100k. Now the direct market access gives high volume traders STP(straight through processing). STP executions will see your order directly to the inter-bank prices. Overall, Forex.com is also an awesome broker in the U.S.A. With the regulation, good reviews, and credibility, I highly recommend forex.com!



3.       TD Ameritrade

I personally use TD Ameritrade’s Think or Swim (TOS) platform. The reason I would not have it in the top 2 would bethe simple fact that it’s a little more complex than Forex.com and Oanda. You're able to trade options, futures, Forex, and bonds all inside of TOS. The platform is not as beginner friendly as the previously mentioned brokers but does have a lot of amazing features. Compared to tradingview, the TOS charting platform is not as easy to chart in my opinion. Tradingview is easier to navigate time frames and scroll through charts. At Top Traders, we are fundamental traders so we do not need all technical. TD is another regulated broker here in the US. Along with being regulated, TD does have amazing customer service.Inside of the TOS platform, you can message the trading desk or general support with any questions you may have. I do love how professional the platform feels but starting out I would recommend Forex.com or Oanda to start out. Pricing with TD goes by a commission based or non-commission based. With non-commission pairs, price is reflected in the spread and must trade in units of 10,000. With commission pairs, price is $0.10 per 1,000 units and is based on the counter currency. Overall,TD/TOS is a great platform with the options to trade many other instruments.From a Forex perspective, It’s a step or two above Oanda and Forex.com. The biggest thing I like is that it’s a well-known broker and I think it's important to have a reputable broker. For beginners, I would tell you to start with Oanda, or Forex.com.


4.       IG Markets

IG is a UK based forex broker, but they do have an office in the U.S.A. They are regulated with the CFTC, NFA and have earned the name as the UK’s #1 Forex Broker. IG has their own proprietary-charts, but you can also attach to mt4(Which I hate). Personally, I have never used IG but have heard good reviews about them. As you can see with some of the previous reviews, regulation seems to play a HUGE part in my bias. IG is also a market maker or dealing desk, meaning that they will be taking the other side of your trade. This is to provide liquidity to IG clients. When it comes to pricing, you will be paying the spread. IG does pride themselves on having lower spreads than some of the other top brokers. After doing research on IG, I do think it is a very credible and safe broker to place your capital.


5.       IC markets

IC markets is headquartered in Sydney,Australia. They do no accept residents of the U.S. Canada, Israel and Islamic Republic of Iran. The biggest thing I do like ASIC regulation (Australian Securities and Investments Commission). The ASIC is a credible rating agency which Is important for the overseas brokers. IC does have their own web platform which is not the best visually. You can also connect your broker to mt4 which I would rather do with IC. Customer service is fairly good with IC markets, but not near as good as I have seen with TD and Oanda. They are supposedly an ECN broker, so they do have access to liquidity providers. The ECN commission for their Ctrader is $3per lot(100k) and their mt4 is $3.50 per lot. Overall IC markets would be the last recommendation I would recommend to some beginners in other countries. The fact that they have the ASIC rating is a big plus. I do like that they are headquartered in Australia and not in a third world country.


June 1, 2019
Forex Basics

More from 

Forex Basics


View All

Join Our Newsletter and Get the Latest
Posts to Your Inbox

No spam ever. Read our Privacy Policy
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.