American Express Brokers 2024

Written By

Jemma Grist

Edited By

James Barra

Fact Checked By

William Berg

Updated

Jun 5, 2024

American Express provides millions of customers worldwide with a fast, easy and safe way to make payments to a range of merchants. This guide unpacks the key considerations when using American Express to fund day trading positions, from foreign exchange fees and interest rates to types of credit cards and transfer limits.

We have also compared and ranked the top brokers that support American Express deposits in 2024.

Best American Express Brokers

These are the best 10 brokers that offer American Express deposits, based on our tests:

Click a broker for details

1

FOREX.com

Go To FOREX.com
FOREX.com Review

New Customer Bonus Offer Active Trader Program With A 15% Reduction In Costs

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.3 / 5

Fees & Costs 4.6 / 5

Platforms & Tools 4.6 / 5

Customer Support 4.3 / 5

Research 4.8 / 5

Education 4.5 / 5

iOS App 3.6 / 5

Android App 3.8 / 5

Minimum Deposit $100

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Futures, Futures Options

Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

Payment Methods Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Go To FOREX.com
2

NinjaTrader

Go To NinjaTrader
NinjaTrader Review

Ratings

Regulation & Trust 4.3 / 5

Accounts & Banking 2.8 / 5

Assets & Markets 2.9 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 4.5 / 5

Customer Support 4 / 5

Research 4 / 5

Education 4 / 5

iOS App 3 / 5

Android App 3.2 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Options, Commodities, Futures, Crypto

Platforms NinjaTrader Desktop, Web & Mobile, eSignal

Payment Methods ACH Transfer, Debit Card, Wire Transfer, Cheque

Account Currencies USD

Go To NinjaTrader
3

Interactive Brokers

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Interactive Brokers Review

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 4.6 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3 / 5

Research 4.4 / 5

Education 4.3 / 5

iOS App 4.3 / 5

Android App 4.5 / 5

Minimum Deposit $0

Minimum Trade $100

Leverage 1:50

Regulator FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM

Instruments Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Platforms Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

Payment Methods Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Go To Interactive Brokers
4

eToro USA

Go To eToro USA
eToro USA Review

New Customer Bonus Offer Invest $100 and get $10

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

Ratings

Regulation & Trust 4.3 / 5

Accounts & Banking 3 / 5

Assets & Markets 3.9 / 5

Fees & Costs 3.4 / 5

Platforms & Tools 4 / 5

Customer Support 3 / 5

Research 4.3 / 5

Education 4.5 / 5

iOS App 4.3 / 5

Android App 4 / 5

Minimum Deposit $100

Minimum Trade $10

Leverage

Regulator SEC, FINRA

Instruments Stocks, Options, ETFs, Crypto

Platforms eToro Trading Platform & CopyTrader

Payment Methods ACH Transfer, Debit Card, PayPal, Wire Transfer

Account Currencies USD

Go To eToro USA
5

Pocket Option

Go To Pocket Option
Pocket Option Review

New Customer Bonus Offer 50% Deposit Bonus

Ratings

Regulation & Trust 2 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 2.5 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 3.3 / 5

Customer Support 3.3 / 5

Research 3 / 5

Education 3.5 / 5

iOS App 4 / 5

Android App 4.2 / 5

Minimum Deposit $50

Minimum Trade $1

Leverage

Regulator MISA

Instruments Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos

Platforms Web, MT4, MT5

Payment Methods Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, Airtel

Account Currencies USD

Go To Pocket Option
6

IQCent

Go To IQCent
IQCent Review

New Customer Bonus Offer 20% to 200% Deposit Bonus

Ratings

Regulation & Trust 2.5 / 5

Accounts & Banking 3.3 / 5

Assets & Markets 2.4 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.8 / 5

Customer Support 2.5 / 5

Research 3 / 5

Education 2 / 5

iOS App 4.3 / 5

Android App 4.1 / 5

Minimum Deposit $250

Minimum Trade $0.01

Leverage 1:500

Regulator IFMRRC

Instruments Binary Options, CFDs, Forex, Indices, Commodities, Crypto

Platforms Online Platform, TradingView

Payment Methods Credit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, Mastercard

Account Currencies USD, EUR

Go To IQCent
7

RedMars

Go To RedMars
RedMars Review

Ratings

Regulation & Trust 3.3 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 3.8 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 3.8 / 5

Customer Support 4 / 5

Research 2.8 / 5

Education 3 / 5

iOS App 4.7 / 5

Android App 4.6 / 5

Minimum Deposit €250

Minimum Trade 0.01 Lots

Leverage 1:30 (Retail), 1:500 (Pro)

Regulator CySEC, AFM

Instruments CFDs, Forex, Stocks, Indices, Commodities, Cryptos

Platforms MT5

Payment Methods Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, Visa

Account Currencies USD, EUR

Go To RedMars
8

OANDA US

Go To OANDA US
OANDA US Review

CFDs are not available to residents in the United States.

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 2.8 / 5

Fees & Costs 4 / 5

Platforms & Tools 4.5 / 5

Customer Support 3.5 / 5

Research 4.3 / 5

Education 3.8 / 5

iOS App 4.7 / 5

Android App 3.7 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)

Platforms OANDA Trade, MT4, TradingView, AutoChartist

Payment Methods Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Go To OANDA US
9

Plus500 US

Go To Plus500 US
Plus500 US Review

New Customer Bonus Offer Welcome Deposit Bonus up to $200

Trading with leverage involves risk.

Ratings

Regulation & Trust 3.5 / 5

Accounts & Banking 3.7 / 5

Assets & Markets 3.5 / 5

Fees & Costs 3.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3.5 / 5

Research 2.8 / 5

Education 3.5 / 5

iOS App 4.1 / 5

Android App 4.3 / 5

Minimum Deposit $100

Minimum Trade 0.0 Lots

Leverage

Regulator CFTC, NFA

Instruments Futures on Forex, Commodities, Cryptos, Indices, Interest Rates

Platforms WebTrader, App

Payment Methods ACH Transfer, Wire Transfer, Debit Card, Mastercard, Visa

Account Currencies USD

Go To Plus500 US
10

Moomoo

Go To Moomoo
Moomoo Review

New Customer Bonus Offer Get up to 15 free stocks worth up to $2000

Ratings

Regulation & Trust 4.7 / 5

Accounts & Banking 3.3 / 5

Assets & Markets 3 / 5

Fees & Costs 3.8 / 5

Platforms & Tools 3 / 5

Customer Support 2.8 / 5

Research 3.8 / 5

Education 4.4 / 5

iOS App 4.6 / 5

Android App 3.3 / 5

Minimum Deposit $0

Minimum Trade $0

Leverage 1:2

Regulator SEC, FINRA, MAS, ASIC, SFC

Instruments Stocks, Options, ETFs, ADRs, OTCs

Platforms Desktop Platform, Mobile App

Payment Methods Wire Transfer, ACH Transfer

Account Currencies USD, HKD, SGD

Go To Moomoo

Here is a summary of why we recommend these brokers:

FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.

American Express Brokers Comparison

American Express Brokers Comparison
Minimum Deposit	Instruments	Platforms	Leverage
$100	Forex, Stocks, Futures, Futures Options	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:50
$0	Forex, Stocks, Options, Commodities, Futures, Crypto	NinjaTrader Desktop, Web & Mobile, eSignal	1:50
$0	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral	1:50
$100	Stocks, Options, ETFs, Crypto	eToro Trading Platform & CopyTrader	-
$50	Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos	Web, MT4, MT5	-
$250	Binary Options, CFDs, Forex, Indices, Commodities, Crypto	Online Platform, TradingView	1:500
€250	CFDs, Forex, Stocks, Indices, Commodities, Cryptos	MT5	1:30 (Retail), 1:500 (Pro)
$0	Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)	OANDA Trade, MT4, TradingView, AutoChartist	1:50
$100	Futures on Forex, Commodities, Cryptos, Indices, Interest Rates	WebTrader, App	-
$0	Stocks, Options, ETFs, ADRs, OTCs	Desktop Platform, Mobile App	1:2

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus Offer	Active Trader Program With A 15% Reduction In Costs
Demo Account	Yes
Instruments	Forex, Stocks, Futures, Futures Options
Regulator	NFA, CFTC
Platforms	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.

Cons

FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.

Visit FOREX.com

FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo Account	Yes
Instruments	Forex, Stocks, Options, Commodities, Futures, Crypto
Regulator	NFA, CFTC
Platforms	NinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD

Pros

You can get thousands of add-ons and applications from developers in 150+ countries
Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets

Cons

Non forex and futures trading requires signing up with partner brokers
The premium platform tools come with an extra charge
There is a withdrawal fee on some funding methods

Visit NinjaTrader

NinjaTrader Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo Account	Yes
Instruments	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Regulator	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Platforms	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit	$0
Minimum Trade	$100
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.

Cons

IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

Visit Interactive Brokers

Interactive Brokers Review

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus Offer	Invest $100 and get $10
Demo Account	Yes
Instruments	Stocks, Options, ETFs, Crypto
Regulator	SEC, FINRA
Platforms	eToro Trading Platform & CopyTrader
Minimum Deposit	$100
Minimum Trade	$10
Account Currencies	USD

Pros

A free demo account means new users and prospective day traders can try the broker risk-free
Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
The low minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

Average fees may cut into the profit margins of day traders
The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos

Visit eToro USA

eToro USA Review

Pocket Option

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Jemma Grist, Reviewer

Pocket Option Quick Facts

Bonus Offer	50% Deposit Bonus
Demo Account	Yes
Instruments	Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
Regulator	MISA
Platforms	Web, MT4, MT5
Minimum Deposit	$50
Minimum Trade	$1
Account Currencies	USD

Pros

The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries

Cons

The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests

Visit Pocket Option

Pocket Option Review

IQCent

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
Jemma Grist, Reviewer

IQCent Quick Facts

Bonus Offer	20% to 200% Deposit Bonus
Demo Account	Yes
Instruments	Binary Options, CFDs, Forex, Indices, Commodities, Crypto
Regulator	IFMRRC
Platforms	Online Platform, TradingView
Minimum Deposit	$250
Minimum Trade	$0.01
Leverage	1:500
Account Currencies	USD, EUR

Pros

The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
There's an accessible $0.01 minimum stake for new day traders with a small budget

Cons

IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
The market analysis is very basic with limited technical summaries and insights from analysts
There's no automated trading support for algo traders

Visit IQCent

IQCent Review

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
Christian Harris, Reviewer

RedMars Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, Cryptos
Regulator	CySEC, AFM
Platforms	MT5
Minimum Deposit	€250
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:500 (Pro)
Account Currencies	USD, EUR

Pros

The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests

Cons

The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets

Visit RedMars

RedMars Review

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
Jemma Grist, Reviewer

OANDA US Quick Facts

Demo Account	Yes
Instruments	Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
Regulator	NFA, CFTC
Platforms	OANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

There's a strong selection of 68 currency pairs for dedicated short-term forex traders
OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView

Cons

The range of day trading markets is limited to forex and cryptos only
There's only a small range of payment methods available, with no e-wallets supported
It's a shame that customer support is not available on weekends

Visit OANDA US

OANDA US Review

Plus500 US

"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer

Plus500 US Quick Facts

Bonus Offer	Welcome Deposit Bonus up to $200
Demo Account	Yes
Instruments	Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
Regulator	CFTC, NFA
Platforms	WebTrader, App
Minimum Deposit	$100
Minimum Trade	0.0 Lots
Account Currencies	USD

Pros

The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees

Cons

Although support response times were fast during tests, there is no telephone assistance
Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks

Visit Plus500 US

Plus500 US Review

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus Offer	Get up to 15 free stocks worth up to $2000
Demo Account	Yes
Instruments	Stocks, Options, ETFs, ADRs, OTCs
Regulator	SEC, FINRA, MAS, ASIC, SFC
Platforms	Desktop Platform, Mobile App
Minimum Deposit	$0
Minimum Trade	$0
Leverage	1:2
Account Currencies	USD, HKD, SGD

Pros

The broker offers access to extended pre-market trading hours
It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
There are reduced options contract fees from $0.65 to $0

Cons

There is no phone or live chat support - common options at most other brokers
It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers

Visit Moomoo

Moomoo Review

How Did We Choose The Best American Express Brokers?

To uncover the top American Express brokers, we:

Analyzed our library of 500 online brokers and platforms, focusing on all those that accept Amex payments
Verified that they support Amex deposits and withdrawals for day trading
Used 100+ data points and personal observations to rank them by their overall rating

How American Express Works

American Express was founded in 1850 when William Fargo, Henry Wells and John Warren Butterfield merged their express companies. A century later the business started providing a charge card, which offered travellers the flexibility of credit. Since then, the company has grown with the invention of the internet providing online payment services to retail customers.

More recently the brand has integrated into the financial markets supporting trading brokers and investing platforms. In 2024, the number of American Express brokers is on the rise, though it’s still considerably lower than brokerages that accept more popular payment methods such as Visa and Mastercard debit cards.

Importantly, American Express works in a similar way to most other credit cards. Any expenditure from your account, whether that be deposits with trading brokers or spending with other merchants, will need to be settled regularly.

The American Express head office in the US is located in New York, though regional headquarters are found in other parts of the world, including the UK office in Brighton.

Transaction Times Explained

When it comes to making payments to American Express brokers, deposits are usually processed instantly.

You will need to provide verification via a 6-digit authorization safe key code. The code will be sent either to your account email address or your telephone contact number.

To speed up deposit times, traders can open their credit card app and log in to their account to add a new merchant (including online brokers) to their express list. With or without the express list, transaction times will typically be no more than a few minutes.

Withdrawals usually need to be approved by the trading broker before they are sent to American Express. Once the brokerage has sanctioned the withdrawal of funds from your trading account, it can take up to 10 working days for the funds to show on your card statement as a credit balance (negative cost).

Note, for credit balances to be transferred to the associated Amex debit bank account, a request needs to be submitted to customer service which will be reviewed and processed. This can take up to 10 days, though transactions are often settled more quickly.

Pricing Review

Some trading brokers that accept American Express levy fees for deposits and withdrawals. The company is known to charge merchants high fees for processing payments. This is the case online and in physical stores, so it’s common that brokers try and pass these onto traders. It also means that the payment method is usually more expensive vs Visa and Mastercard.

American Express brokers should list the fees that will apply when you deposit before you sign up for a trading account. This is normally a flat fee below a certain balance and/or a percentage of the transfer amount.

Outside of trading brokers’ transaction fees, there are other charges that investors should be aware of:

FX Fees – Some brokers will require payments to be made in a currency different to your base American Express currency. In this case, the payment service will charge a foreign transaction fee which can be up to 3% of the transaction value depending on which card or account you hold.
Annual Fees – Most American Express cards will charge owners a yearly membership fee. This can range from no annual fee to thousands of dollars per year, with the most expensive invitation-only cards charging hefty fees. The common cards, however, require more modest annual fees priced in the hundreds of dollars, and in exchange provide cardholders with several benefits such as cashback and points. The credit card company provides full details on fees and benefits when signing up for a new account or card.

It’s worth noting that some Amex cards do not require traders to pay off charges on the account (including deposits made to brokers) as they offer zero interest on payments. However it is best practice to pay off the statement balance in full.

Security

American Express is considered safe and has strong security protocols at all stages. This makes it a good choice as a payment method with trading brokers and other merchants.

Key security procedures include:

KYC – When users want to register for an account, they must provide a copy of their passport or driver’s license to validate their identity
Transaction Safe Key – Any deposit made to brokers that accept American Express will need to be approved with a safe key which is sent to the trader’s email or mobile number
Account Login – Every time a customer wants to sign into their American Express account they will be required to provide their user ID and password before access is granted
Customer Service – When raising a query with customer service, the agent will need the user to pass a security questionnaire before any help can be provided

Customer Service

The customer support that American Express provides is considered to be the industry gold standard regardless of whether your query is related to trading brokers or not. The credit card company has a dedicated customer service team that can be contacted via chat 24/7, or you can call their customer service helpline via an international phone number. Agents are genuine people (rather than bots), quick to respond and thorough. Before they can help, two layers of security must be passed.

Trading account withdrawals will show as credit balances on the user’s statement. For this to be transferred to the customer’s associated debit account, traders need to contact customer service to request the funds are transferred. In the first instance, account holders need to provide a copy of a bank statement to validate the transfer account. After this, requests can be submitted directly to customer service each time a credit balance needs to be refunded.

Pros Of Using American Express For Trading

There are several benefits to trading brokers that accept American Express deposits:

Straightforward – The steps to making payments via the online banking app or American Express website are easy to follow
Membership Rewards – Most Amex credit cards offer benefits when spending money on the card, from air miles to cashback
Multi-use – Traders who already have an American Express card or account will easily be able to make deposits to online brokers
Highly Secure – American Express has implemented strong security and controls at every stage of the customer journey
Strong Customer Service – The credit card company offers industry-leading customer service to its users which should reassure traders that they can rely on support 24/7. This is available via chat or phone call

Cons Of Using American Express For Trading

There are also some drawbacks to using American Express when day trading:

Lack Of Integration – The number of trading brokers that accept American Express is limited vs Visa and Mastercard
Encourages Spending – High credit limits might be higher than the cash traders have available to trade, encouraging cardholders to spend more than they can afford
Long Withdrawal Process – When withdrawing funds from American Express brokers, the withdrawal is subject to the brokerage’s processing times, the time for it to show in the Amex statement and the time for the credit balance to show in the customer’s debit account. This process is much longer than the typical withdrawal with an alternative payment method

How To Deposit Using American Express

There are several steps to follow when using American Express as a payment method to fund day trading accounts:

Check Amex Is Accepted – The first step is to look for brokers that accept American Express deposits and withdrawals. Information regarding the minimum deposit should be readily available on the firm’s website. Deriv, for example, requires only $5.
Confirm Any Fees – Information regarding the fees that apply should also be publicly available to day traders. Check the ‘cashier’ or similar portal for details.
Check Transaction Times – In addition, the time it takes to process an American Express deposit or withdrawal should be detailed by the broker. This is important to understand so that trades can be executed in good time.
Make A Deposit/Request A Withdrawal – Once the above information is understood you can deposit up to the credit limit of the Amex account or the trading broker’s transfer threshold. The process should be straightforward, but will most likely require the trader to enter their black card details, for example, and a SafeKey.

Accepted Countries

American Express accepts users from countries around the world, including: Australia, Canada, Dubai, Hong Kong, Ireland, India, Israel, Jordan, Kuwait, Saudi Arabia (KSA), Korea, Malaysia, Oman, Qatar, Spain, Singapore, and many other countries.

Note, trading brokers that accept American Express deposits may have their own customer country restrictions.

Is American Express Good For Day Trading?

American Express is a worldwide payment method available at a large number of vendors, including some trading brokers. But despite its popularity, there are only a handful of brokers that accept American Express payments, including FxPro and FXPrimus. See our full list of American Express brokers to start trading.

FAQ

Do American Express Brokers Offer Instant Deposits?

Trading brokers that accept American Express usually offer near-instant deposits. However, withdrawals can take several working days, though this varies between trading platforms. Note, users will need a SafeKey from the credit card company to make a payment, which can cause delays.

Are American Express Trading Deposits Accepted In All Locations?

The brand has a global reach and most countries are supported by the credit card company. Despite this, some American Express brokers might have limitations on where day traders can sign up from. This information should be listed on the broker’s official website.

Does American Express Have A Brokerage Account?

Yes. The credit card company’s American Express Brokerage account offers several different trading packages depending on the value of your account balance. Clients can find more details on the official site. Note, the brokerage account is only available in some jurisdictions.

Which Are The Top Forex Brokers That Accept American Express?

The best American Express brokers that offer forex trading include FxPro and FXPrimus. Use our full list of brokers that accept American Express deposits to find the right forex trading platform for your needs.

Can I Use American Express Via Zelle To Fund My Trading Account?

No – American Express does not support Zelle mobile payments, however, it does support Apple Pay and Google Pay.