We saw what happened with tomele when FortFS disappeared off the face of the Earth. We've also seen many others such as FXTM (formerly ForexTime) which proved to be unreliable.
For those of us living in North America, finding an all-around solid Forex broker is like finding an ever-disappearing needle in a haystack. Just when you find the one gem, it goes extinct for some reason and you have to continually hunt for a new one. Or out of nowhere you get the "due to regulations and changes we can no longer accept clients from your country" email.
So our only solution is to continually search for and update an always-changing list of brokers who will allow us to trade with them. I've spent the past month or so searching far and wide for every broker taking in myself and my trading friends. Believe me when I say I spent an awful lot of time talking to customer support agents.
This is my list as of now, completely subject to change in the future.
A FEW DISCLAIMERS:
- You are 100% responsible for doing your due diligence and research on each and every one of these brokers. Some of them might be more criminal than others.
- Some may not have the leverage you want, or the offered leverages may be too high. Or the spread is too high. Or the commissions are too high. Or they are an STP/ECN broker. You get the picture.
- For those of you trading instruments other than currency pairs (cryptocurrencies, stocks, commodities, metals, indices), some brokers may or may not have the assets you are looking for.
- A fair amount of them accept numerous non-crypto methods of deposit and withdrawal, although cryptocurrency funding seems to be the direction many well-known and newer brokers are headed. Decide for yourself if that's a burden worth dealing with.
- Almost all of them are offshore. Again, up to you if you want to trade with them.
- ForexPeaceArmy is your best bet for finding untampered 3rd-party reviews. Use other forums and review sites like TrustPilot with caution.
- Hugo's Way
- Number One Capital Markets
- Hanko Trade
- Turnkey Forex (according to one source from Babypips, this broker merged with Coinexx sometime in October 2022. This is evident because while Turnkey Forex's website is still operational, their registration link redirects you to the Coinexx website.)
- LDQFX
- LMFX (sometime in the first half of June 2023, they mysteriously decided to stop taking in US traders without any advance warning. They'll still take Canadians but I don't know if they're worthy of being migrated to the third list yet)
- OspreyFX
- Prosperity4X
- SageFX (as of late October 2022, it appears they are no longer accepting NEW traders from the USA for a temporary period of time due to a market research program. A few Babypips members thought it was a permanent change but I just confirmed my findings through a chat with customer support this morning. But notably, existing US traders who already have an account with them are unaffected by this temporary change)
- CedarFX
- ATC Brokers
- AAFX
- LongHornFX
- Oanda (I've heard very mixed things about them, so double down on investigating them)
- EagleFX
- KOT4X
- Tradiso
- CryptoRocket
- Finpro Trading (NOTE: According to intel from Babypips and Forex Peace Army, this broker shut down completely in May 2022 and has not come back online)
- AzaForex (no Empty4 or Empty5 available, you have to trade through their web platform)
- Uniglobe Markets
- Coinexx
- EnviFX
- FXSWay
- BluwaveFX
- FairForexFX
- Nash Markets
- XtreamForex
- FX Wonders
- Hey Forex
- Inland FX (they only have a website and no other mention anywhere else on the Internet, plus they are Empty5 only, and no indication of available instruments or spreads)
- TP Global FX
- Crypto Altum (Empty5 only, has forex but their main specialty is cryptocurrency trading)
- Esta Trade
- Hive Markets
- Interactive Brokers (no Empty4/5 platform, low leverage)
- Forex.com (also heard very mixed things, very limited to a Standard account if using Empty4)
- FX Live Capital
- CapitalCore (Empty4/MT5 to arrive by end of January 2022, with the addition of more indices and US stocks available to trade. But their binary options are strictly limited to their own web platform)
- FXGlory
- Lirunex
- LegacyFX (Empty5 only)
- BitYard (no Empty4/5)
- UNFXB (Empty5 only)
- VitalMarkets
- CarbonCapitalFX (Empty5 only)
- MEEFX
- JMI Brokers
- SolidECN (Empty5 only)
- EncoreCapitals (Empty5 only)
- Investizo
- Ventura Prime FX
- Climax Prime (Empty5 only)
- ExcoTrader
- BelleoFX (Empty5 only)
- MecuryFX (Empty5 only)
- Face Capital Limited (Empty5 only)
- FX Primary
- BenchMarkFX
- ZeyFex (Empty5 only, seems like more of a copy trade service)
- Inveslo
- Istithmar.co.uk (Empty5 only)
- EnclaveFX (Empty5 only)
- MarketProTrade.com (no Empty4/5, uses their own proprietary platform)
- Proton Capital Markets
- Kumo Markets
- LidyaFX (Empty5 only)
- Sapphire Markets (Empty5 only)
- Investorsnet.org
- AlphaForexMarkets.com (Empty5 only)
- MogaFX
- USGFX.Global
- iBell Markets (Empty5 only)
- GIFX Prime (Empty5 only)
- SwissFS
- WaysTrade (Empty5 only)
- MaxFXProfits.com (Support sucks and tried to sell me on an investment service. Unless this gets fixed big time, stay away from these guys!)
- CapitalStreetFX (no Empty4/5)
- FXGrow (Empty5 only)
- JMTrade
- TheBrokersCapital (Empty5 only)
- LCM-FX
- VFM Brokers
- AronGroups.co (Empty5 only)
- AbsoluteMarkets.com
- FXSign.com
- XFlowMarkets.com
- EMDBroker.com
- HeroFX.co
- AssetsFX.com
- NovatechFX.com (Empty5 only, does not allow traders from the USA states of Montana, Hawaii, Texas, Alaska, and South Carolina)
- AxenTrade (Empty5 only)
- CrystalBallMarkets.com (Mobius Trader 7 only, no Empty4 or Empty5)
- Blaze Markets
- (Customer support says "We do accept traders from Canada. From the USA we don't actively accept... this means there are ways for a US client to trade but it's case by case". What they meant was "we don't accept US clients BUT compliance may let it slide if they don't verify and they use Crypto to deposit only. Or you can open an account for them as we can accept Canada")
- Bold Prime
- (Tread with caution here. My first interaction with live chat said they accepted Canadian and American traders, plus their registration form features both countries. My second interaction with live chat said they do not accept Canadian and American traders. Either way my prior issues with submitting a driver's license as proof of national ID have been resolved. I've also been contacted by a few US residents who claimed they were able to successfully deposit real money, trade live, and withdraw real money without issues. Whatever outcome you get with these guys, good or bad, is 100% on you)
- Hanju Market
- (cannot create a demo account in client back-end as the option does not exist. Had to create it in Empty4 itself and even then I don't know if it reflects their actual demo account in terms of leverage, instruments available, and spread. Nobody responds on their online chat, and the email on the bottom of the website does not work. Had to use one of their emails I found via signing up and getting a notification in my inbox. Awaiting a response to fix these very basic problems)
- Rann Forex
- (Customer support had this vague answer: "No, we can't accept you if you are from US or Canada. Although we don't verify your residential address so in theory we can't know for sure. We are not verifying your address or any other data, so if you say you are US citizen, we take it so. The only purpose of collecting data is verifying that you are the same person who initially opened an account in case password is lost”. Weirdly enough you had the option to list Canada or USA when setting up your profile)
- GoStreams.io
- (Still awaiting email to confirm if they accept traders from either country, but you had the option to list Canada or USA when setting up your profile at the registration form. Tried messaging on WhatsApp as they have been unresponsive with two emails I've sent and their live chat is never online)
- TDAmeritrade
- (via their thinkorswim platform only. tomele had good things to say about the TastyTrade brokerage for futures, options, and crypto started by the same person who created thinkorswim. However, TDAmeritrade is ONLY for Americans and not for Canadians)
- FXChoice*
- BlackBullMarkets (as of over a year ago from June 2023, they no longer accept new Canadian clients)
- Blueberry Markets
- Ingot Brokers*
- TioMarkets
- FXView
- TradersWay*
- ValuTrades (SeyChelles)
- AnzoCapital
- XBTFX.io (except for residents of Quebec)
- AMarkets
- TMGM
Please let me know if this helps! As much as I would love to sign up with Global Prime, being a Canadian means I am unable to trade with them. Thus I have to find alternatives that may not be approved by Steve or the SHF veterans.
EDIT, NOVEMBER 23 2021:
- Added the brokers FXSway, BluwaveFX, FairForexFX to the list of brokers accepting Canadian and American traders.
- Added the brokers Blueberry Markets and Ingot Brokers to the list of brokers accepting Canadian traders but NOT American traders.
- Added the broker Nash Markets to the list of brokers accepting Canadian and American traders.
- Added the brokers TioMarkets and FXView to the list of brokers accepting Canadian traders but NOT American traders.
- Added the brokers XtreamForex, FX Wonders, Hey Forex, InlandFX, TP Global FX, Crypto Altum, Esta Trade, and Hive Markets to the list of brokers accepting Canadian and American traders.
- Added an additional list of brokers with unresolved issues to keep track of current conversations with customer support.
- Added the broker TradersWay to the list of brokers accepting Canadian traders but NOT American traders, along with a disclaimer for select brokers in this list
- Linked to ForexPeaceArmy as a place to search up untampered reviews.
- Added the brokers Interactive Brokers and Forex.com to the list of brokers accepting Canadian and American traders.
- Added the broker ValuTrades (SeyChelles) to the list of brokers accepting Canadian traders but NOT American traders, along with a disclaimer for select brokers in this list.
- Added the broker CapitalCore to the list of brokers accepting Canadian and American traders, along with FX Live Capital as customer support helped me fix the issue I had with logging into my demo account.
- Bold Prime removed from the second list as customer support confirmed they do not accept traders from Canada or America. Even though both countries show up in the registration page, you will ultimately get rejected once you submit documents showing proof of identity and address.
- Added the broker AnzoCapital to the list of brokers accepting Canadian traders but NOT American traders.
- Added the broker FXGlory to the list of brokers accepting Canadian and American traders.
- FX Globe removed from the second list as customer support confirmed they do not accept traders from America but will take Canadian traders. the lack of "United States" in the registration form should have been my first clue. I confirmed this via email conversation even though live chat claimed traders from the USA are accepted.
- Added more details on additional struggles I've faced doing simple things with Hanju Market. Even if I get these issues resolved, I can add them to the first list but not without mentioning they have been the most difficult people to deal with.
- Re-added Bold Prime to the second list with an important caveat. I got my issues resolved and my driver's license was finally accepted as proof of national ID. Also added details about other USA traders successfully depositing real money, trading live, and withdrawing real money without issues.
- Added the broker Lirunex to the list of brokers accepting Canadian and American traders.
- Juno Markets removed from the second list as customer support told me the following: "Please be informed that we accept client from Canada but we do not accept client from USA (even though USA shows up in their registration form). For USA client we only allow them to be our Introducing Broker but not to trade with us"
- Added the brokers LegacyFX, Bityard, UNFXB, VitalMarkets, CarbonCapitalFX, MEEFX, JMI Brokers, SolidECN, EncoreCapitals, Investizo, Ventura Prime FX, Climax Prime, ExcoTrader, BelleoFX, MecuryFX, Face Capital Liimted, FX Primary, BenchMarkFX, ZeyFex, Inveslo, Istithmar, EnclaveFX, MarketProTrade, Proton Capital Markets, Kumo Markets, LidyaFX, Sapphire Markets, Investorsnet, AlphaForexMarkets to the list of brokers accepting Canadian and American traders
- Added the broker XBTFX.io to the list of brokers accepting Canadian traders but NOT American traders
- Added the brokers MogaFX, USGFX.Global, iBell markets, SwissFS, GIFX Prime, WaysTrade to the list of brokers accepting Canadian and American traders
- Added the brokers MaxFXProfits.com, CapitalStreetFX, FXGrow, JMTrade, TheBrokersCapital, LCM-FX to the list of brokers accepting Canadian and American traders
- Added the brokers AMarkets and TMGM to the list of brokers accepting Canadian traders but NOT American traders
- Added the broker TDAmeritrade to the second list, noting that Americans are accepted but not Canadians
- Added the brokers VFM Brokers, AronGroups.co, and AbsoluteMarkets.com to the list of brokers accepting Canadian and American traders
- Added the brokers FXSign, XFlowMarkets, EMDBroker, HeroFX.co, and AssetsFX to the list of brokers accepting Canadian and American traders
- Added the brokers NovatechFX, AxenTrade, and CrystalBallMarkets to the list of brokers accepting Canadian and American traders
- Made mention of Finpro Trading's inactivity, Turnkey Forex being acquired by Coinexx, and SageFX temporarily barring NEW USA traders from signing up with them
Rather I look at the bottom of the brokers site and see if U.S is mentioned as being restricted....if it is not specifically mentioned we may have a chance in and worth trying from my experience. Anyway back to Evolve Markets.... once you turn on your VPN for any other country of choice you will be under Tier 1....they have a Tier 2 KYC that I have never done since I am sure It would be declined. It allows for higher deposits and withdraws. I have been happily trading with them for many years and they are one of my favorite brokers. I also have a friend trading with them in the U.S as well.
