EFSA regulated forex brokers
Estonian Financial Supervision and Resolution Authority · 🇪🇪 Estonia
The Estonian Financial Supervision and Resolution Authority (EFSA) is the financial regulator for Estonia, established in 2002. ForexLicenses.com classifies it as tier 2 (strong regulation). We currently match 2 brokers in our database to an EFSA licence.
Finantsinspektsioon supervises Estonia's financial sector and licenses the Admirals group's EU investment firm, one of the oldest forex brokers in the Baltics. Estonian investment firms participate in the national Guarantee Fund and can passport across the EEA.
Key rules for retail clients
- Tier
- Tier 2 — Strong regulation
- Compensation
- Guarantee Fund — 90% of claim up to €20,000
- Leverage
- 30:1 on major FX pairs (ESMA rules)
- Negative balance protection
- Required for retail clients
- Client money
- MiFID II client asset rules
- Complaints
- Consumer Disputes Committee
Brokers licensed by the EFSA 2
Frequently asked questions
How do I check if a broker is EFSA regulated?
Search the firm's name or licence number on the EFSA official register (https://www.fi.ee/en/investment-market/investment-firms), confirm the status is current and that the website domain you're using is listed, then check the EFSA warning list for clones.
Does the EFSA offer investor compensation?
Guarantee Fund — 90% of claim up to €20,000
What leverage do EFSA-regulated brokers offer?
30:1 on major FX pairs (ESMA rules)
Is negative balance protection required by the EFSA?
Yes. Negative balance protection is required for retail clients of EFSA-regulated firms.