North America is a very interesting destination for Forex trading. In recent years, the region has seen a very fast development of the field and as of today, it is home to many well-developed Forex brokers. With the development of modern technology, Forex trading has become accessible for everyone in any part of the world.
However, with such fast development, many challenges arose. One of the biggest challenges, that the world still faces, is the safety of Forex traders. To keep them as safe as possible, different countries started coming up with a list of rules and guidelines, and in addition to these, regulatory bodies, that would take good care of the field.
North America is one of those regions that took this job very seriously and as of today, there are a number of Forex regulatory agencies that take care of the field. Thes organizations do their best to make sure that every single Forex trader stays safe and secure in the region, and they are doing their best to fight against money laundering and other problems.
What are the best Forex brokers in North America?
North America is one of the most diverse regions around the world. It is home to many different jurisdictions, and Forex trading works differently in every country. Finding the best Forex broker here is not easy, and it is especially hard for those who are new to the field of Forex trading. To make your job easier, we have decided to do research on our own and came up with the list of the best Forex brokers on the market that you can use right now.
AvaTrade
Minimum deposit
100 USD
Licences
ASIC , FSC, FSCA, FSA, FFAJ, FSRA
Maximum leverage
400:1
Platforms
MT4, MT5
HotForex
Minimum deposit
5 USD
Licences
FCA, FSA, DFSA, FSCA
Maximum leverage
1:1000
Platforms
MT5, MT4, WebTrader
Plus500
Minimum deposit
$100
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Maximum leverage
1:30
Platforms
WebTrader
IQ Option
Minimum deposit
$10
Licences
CySEC, FSA
Maximum leverage
1:30
Platforms
Web
FX trading in North America – country by country
To help you out, we decided to create different pages for every country in the region. These countries are very different from one another and trading Forex is also very different in these countries. Not only the rules differ, but also the whole financial market is very different in these countries, so we would recommend checking out the pages that we have created for them.
North America’s Forex trading regulations – How to stay safe?
Forex regulations in the country are very different. The top two countries when it comes to Forex trading are Canada and the United States because of their successful financial situation. Because of the fact that the regulatory framework is so tough in these counties, especially in the United States, many of the brokers and investors decide to not start doing business in these countries. However, there still are a number of Forex brokers that you will come across.
Generally, for an FX broker to be able to offer services to the citizens of the US, they need to be registered in the country and own a license from the regulatory body of the United States.
Obtaining a trading license in the United States is not an easy thing to do, it takes a lot of time and work. Because of such hard regulations, the number of FX brokers in the country is pretty limited.
In Canada, things are a little bit simpler. While the regulations are strict, Canada allows FX brokers registered in other countries to offer services to their citizens, however, these brokers will still need local licenses. Something that is very similar between these countries is the fact that regulations and laws are very different in different parts of these countries, so before you start trading, you need to learn to take into consideration many different aspects.
Minimum capital requirements for Forex brokers in North America
Probably one of the things that make establishing an FX broker in North America harder is the fact that the capital requirements in the countries of the region are huge.
In the United States, the minimum capital requirement is as much as $20 million, which is very high especially compared to other countries around the world. Although Canada does not have such high numbers, it is still very hard to get a license in the country.
As hard as it sounds, however, all of the regulations that are in place are so that every single Forex trader can stay safe. These countries have proved that by providing a safe and secure trading market, Forex investors can have a very good trading experience.
Should you start trading Forex in North America?
The fact about this region is that it is hard for brokers to register their companies, while for traders, the market is very helpful and trustworthy. So, if you are thinking about starting Forex traidng in one of the countries in the region, we would recommend doing so. The most important part, however, seems to be to make sure that you know what are you doing exactly. Different parts of this region are very different from one another, so, make sure to get as much information as you can and start trading now!
