Some of the companies that provide foreign exchange trading as of 2015 are Oanda, CitiFX Pro, thinkorswim and TradersChoiceFX. Each company is regulated by the National Futures Association to protect investors.
Investors can choose from a wide range of foreign exchange brokers, both in the United States and internationally. For individuals, retail trading is the most accessible option. Many companies, including Oanda, allow investors to create an account and start trading the same day. Oanda is popular among hobby traders for its low deposit amounts, educational trading resources and easy online account management.
CitiFX Pro, which is operated by Citigroup, is targeted toward less casual foreign exchange traders. A minimum balance of $10,000 is required to open a base-level account. Premium accounts start with a $50,000 minimum deposit. The company markets its services primarily to small and mid-market traders.
TD Ameritrade backs the online foreign exchange trading platform thinkorswim. Using high-end technology, thinkorswim allows traders to make transactions at any hour. It also features automated trading settings that operate even when the user is logged out. Barron’s 2014 Online Broker Review recommended thinkorswim for foreign exchange trading novices and people looking to make long-term investments. StockBrokers.com rated the company in first place among online brokers.