USAA Review 2020

USAA Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.

USAA Guide

USAA are an online broker founded in 2008 offering Forex trading trading, CFD trading trading, Spread Betting trading, and Share Dealing trading.

USAA are a global broker and have a head office in United States.

USAA have a listed stock symbol. This means that USAA have publically listed and you can officially buy shares in USAA on one of the worlds global market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of USAA we break down the pros and cons. What USAA are able to offer, what countries USAA are available in. Who USAA are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with USAA

Open USAA's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to USAA

With this review we hope to help you see if USAA is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding USAA that will help you get off to a good start in the world of online trading.

USAA Review Table of Contents

USAA what you should know

USAA offer four ways to trade: Forex trading, CFD trading, Spread Betting, Share Dealing.

With USAA you will need a minimum deposit of $25. You can sign up for a demo account to acquaint yourself with USAA platform.

USAA are able to accommodate various levels of traders whether you are experienced or a beginner.


Are USAA safe?

When choosing a broker like USAA the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 years USAA have a head office in United States.

USAA is regulated. This means USAA are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to USAA, this will be honored. If USAA violate any regulatory rules their regulated status could be stripped.

Any payments funded to USAA accounts by traders are held in a segregated bank account.

For added security USAA use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with USAA. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit USAA

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker usaa eToro XTB Trading212
Year Established 2008 2006 2002 2006
Head Office United States Cyprus, UK Poland UK
Regulation Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 250,000+ 14,000,000+
Negative balance protection No Yes Yes
Guaranteed Stop Loss No No Yes
Learn More Visit USAA Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

USAA Pros and Cons

What we like about USAA

  • Used by over 10,000 traders
  • Established in 2008
  • Regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA)
  • Min. deposit from $25

What we don't like about USAA

USAA Financial Regulation and Supervision in more detail

We have checked and USAA is regulated and supervised by reputable organisations. You are able to check every USAA supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with USAA. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect USAA traders and provide a safe trading environment.

USAA is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as USAA you should be sure they're legitimate online agent.

USAA General Fees

  • USAA withdrawal fees varies on payment method
  • USAA does charge inactivity fees
  • USAA does charge deposit fees
Broker usaa eToro XTB Trading212
Min Deposit 25 200 0 1
Withdrawl Fees 15$ Yes varies No
Inactivity Fees Yes No No
Deposit Fees No No No
CFD Commission Fees No Yes No

USAA Commissions

  • USAA does charge commission on CFD instruments.

What can you trade with USAA?

You can trade a wide variety of instruments with USAA over 242 instruments infact.

If you are looking at trading currency pairs USAA offer over currency pairs.

Compare USAA with eToro and XTB below.

Your capital is at risk

Broker usaa eToro XTB Trading212
Instruments Available 242 100 1,500 3000
Platforms MT4 ,Android,iPhone,Mac Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies Visit USAA Visit eToro Visit XTB Visit Trading 212
Forex pairs offered 50 50 177
Major forex pairs No Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs No Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit USAA Visit eToro Visit XTB Visit Trading 212
Commodities Offered 0 0 21 14
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit USAA Visit eToro Visit XTB Visit Trading 212
Stocks Offered 957 1696 1731
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on USAA web platforms and other applications

USAA offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An USAA IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

USAA also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See usaa's platforms

USAA Trading benefits :

  • Low min deposit

USAA Trading Accounts Offered :

  • Demo account
  • Mini account
  • MAM/PAMM account
  • Islamic account

Can I try USAA before I buy?

USAA offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

USAA withdrawl and funding methods.

USAA offer the below funding payment methods. learn more about USAA

  • Credit cards
  • PayPal
Broker usaa eToro XTB Trading212
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal Yes Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes No
Neteller No Yes Yes No

How can I start trading with USAA?

When opening a trading account with USAA, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on USAA trading platforms here.

Performing trades with USAA

USAA allow you to execute a minimum of trade of $8.95. This may vary depending on the account you open. USAA allow you to execute a maxium trade of varies.

As a market maker, USAA may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

USAA Leverage and USAA CFDs Explained

let's take a look at some of the basics of using USAA leverage.

USAA offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

USAA leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the USAA trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The USAA leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

USAA CFDs are typically used for short to medium term trades. For example USAA intraday trading.

Education resources at USAA

To trade effectively with USAA, it's important to get a have a good understanding of the USAA trading tools and the markets.

USAA offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with USAA.

Take time to look around the USAA platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at USAA

USAA support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

USAA have a B grade support rating because sometimes the reposonse was slow or our query wasnt answered. USAA offer Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at USAA

We tested the USAA live chat and it works well. We sent messages to USAA livechat through their app and website and recieved a response within 20 minutes.

We tested communicating with USAA support in multiple languages in multiple countries. USAA where able to resolve our customer issues.

Email Support at USAA

USAA does not offer Email Support.

Phone Support at USAA

We called USAA and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The USAA phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual USAA team by calling in varying languages. USAA made an effort to make sure our queries were answered.

Overall the phone support from USAA was average.

See how USAA Support Compares Against Other Brokers

Broker usaa eToro XTB Trading212
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit USAA Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with USAA

As USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore USAA's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with USAA you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.usaa.com/ on 12th August 2018.

Is USAA A Good Broker?

We spent over 3 months examining USAA in depth. Although we found some very useful aspects of the USAA platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative USAA broker.

  • USAA have a good track record of offering Forex trading, CFD trading, Spread Betting, Share Dealing.
  • USAA has a history of over 12 years.
  • USAA has a reasonable sized customer support of at least 10.
  • USAA are regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA). This means USAA fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • USAA have regulation from a Tier 1 reputable country.
  • USAA has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • USAA have an international presence in multiple countries. This includes local USAA seminars and training.
  • USAA are able to hire people from various locations in the world who can better communicate in your local language.

USAA Risk Disclaimer

Your capital is at risk

USAA Frequently Asked Questions

Can I try USAA before I buy?

USAA offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do USAA accept?

USAA offer the following funding payment methods accept Credit cards, PayPal, among other payment methods.
Learn more here

Your capital is at risk

Is USAA safe?

USAA are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA). Any payments funded to USAA accounts by traders are held in a segregated bank account. For added security USAA use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is USAA trading good?

USAA is considered good and reputable to trade with. USAAUSAA is used by over USAA active traders. USAA offers Forex trading trading, CFD trading trading, Spread Betting trading, and Share Dealing trading. Minimum deposit with USAA is mindeposit.

Is USAA trading Legit?

USAA was founded in United States in 2008. USAA has been facilitating trade on the financial markets for over 12 years. USAA offers clients Forex trading trading, CFD trading trading, Spread Betting trading, and Share Dealing trading. All funds deposited to USAA are held in segregated tier 1 bank accounts for security. USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA) so can be considered legit.

Is USAA a good broker?

USAA is overseen by the top tier financial regulators Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA) so can be considered a good broker.USAA allows Forex trading trading, CFD trading trading, Spread Betting trading, and Share Dealing trading.

Is USAA trustworthy broker?

USAA can be considered trustworthy. All money funded to USAA is placed into a segregated tier 1 bank account. this means your money in not held by USAA directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA).

What is the minimum deposit for USAA?

The minimum deposit to trade with USAA is 25.

How long do USAA withdrawals take?

Withdrawing money from USAA processing time varies but averages 2-5 days.

Is USAA regulated?

USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA).

Is USAA a market maker?

USAA is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with USAA?

When opening a trading account with USAA, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on USAA trading platforms here.

Is my money safe with USAA?

USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA). One of the most important criteria for traders when choosing a broker like USAA is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to USAA, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is USAA a con?

USAA is regulated and well established having been in business for over 12 years. USAA is definitely not a con.

Can you make money with USAA?

Although traders have had great success with USAA. Trading on the financial markets with USAA is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does USAA have fees?

USAA withdrawal fees varies on payment method. USAA does charge inactivity fees. USAA does charge deposit fees.

When was USAA founded?

USAA was founded in 2008.

How many people use USAA?

USAA is used by over 10000 registered traders.

What is USAA Headquarters country?

USAA has its head quarters office in United States.

Does USAA offer negative balance protection?

USAA does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does USAA offer guaranteed stop loss?

USAA does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does USAA allow scalping?

USAA does not offer scalping.

Does USAA allow hedging?

USAA does not offer hedging.

Does USAA offer CFD trading?

USAA offers CFD trading.

Does USAA offer STP?

USAA does not offer STP trading.

How many people use USAA?

USAA is used by over 10000 traders.

Is USAA an ECN broker?

USAA does not offer ECN trading.

Does USAA offer a demo account?

USAA offers a demo account.

Does USAA offer an Islamic account?

USAA offers a Islamic accounts.

What are the funding methods for USAA?

USAA accept the following funding methods : Credit cards, PayPal,

USAA review written by Andrew Blumer and Mark Hansen

We hope you found our review of the USAA brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

USAA review written by Mark Hansen of Comparebrokers.co