Forex regulators worldwide

We track 52 regulators and dispute bodies that license or oversee retail forex and CFD brokers. Each is placed in one of four tiers based on capital rules, client-money protection, compensation schemes, retail conduct rules and enforcement. See the methodology.

1Top-tier

Tier 1: Top-tier regulation

Strict capital, client-money and conduct rules with active enforcement; usually leverage caps and often compensation schemes.

FCA Financial Conduct Authority 🇬🇧 United Kingdom 54 brokers ASIC Australian Securities & Investments Commission 🇦🇺 Australia 50 brokers JFSA Financial Services Agency of Japan 🇯🇵 Japan 40 brokers CFTC / NFA Commodity Futures Trading Commission & National Futures Association 🇺🇸 United States 34 brokers MAS Monetary Authority of Singapore 🇸🇬 Singapore 13 brokers BaFin Federal Financial Supervisory Authority 🇩🇪 Germany 9 brokers CIRO Canadian Investment Regulatory Organization 🇨🇦 Canada 7 brokers FINMA Swiss Financial Market Supervisory Authority 🇨🇭 Switzerland 5 brokers SFC Securities and Futures Commission 🇭🇰 Hong Kong 3 brokers CBI Central Bank of Ireland 🇮🇪 Ireland 2 brokers

2Strong

Tier 2: Strong regulation

Credible regulators with real rulebooks, but fewer safeguards than tier 1 (e.g. no compensation scheme or looser leverage rules).

SEBI Securities and Exchange Board of India 🇮🇳 India 89 brokers CySEC Cyprus Securities and Exchange Commission 🇨🇾 Cyprus 80 brokers FSCA Financial Sector Conduct Authority 🇿🇦 South Africa 54 brokers SPK / CMB Capital Markets Board of Türkiye (Sermaye Piyasası Kurulu) 🇹🇷 Türkiye 45 brokers DFSA Dubai Financial Services Authority 🇦🇪 United Arab Emirates 12 brokers FMA (NZ) Financial Markets Authority 🇳🇿 New Zealand 8 brokers SCA Securities and Commodities Authority 🇦🇪 United Arab Emirates 7 brokers MFSA Malta Financial Services Authority 🇲🇹 Malta 6 brokers KNF Polish Financial Supervision Authority 🇵🇱 Poland 3 brokers AFM Autoriteit Financiële Markten 🇳🇱 Netherlands 2 brokers CSSF Commission de Surveillance du Secteur Financier 🇱🇺 Luxembourg 2 brokers EFSA Estonian Financial Supervision and Resolution Authority 🇪🇪 Estonia 2 brokers FSC (BG) Financial Supervision Commission of Bulgaria 🇧🇬 Bulgaria 2 brokers FSRA (ADGM) Financial Services Regulatory Authority, Abu Dhabi Global Market 🇦🇪 United Arab Emirates 2 brokers Bank of Latvia Latvijas Banka (formerly FCMC) 🇱🇻 Latvia 1 broker CMVM Comissão do Mercado de Valores Mobiliários 🇵🇹 Portugal 1 broker CNMV Comisión Nacional del Mercado de Valores 🇪🇸 Spain 1 broker CONSOB Commissione Nazionale per le Società e la Borsa 🇮🇹 Italy 1 broker Finanstilsynet (DK) Danish Financial Supervisory Authority 🇩🇰 Denmark 1 broker HCMC Hellenic Capital Market Commission 🇬🇷 Greece 1 broker ISA Israel Securities Authority 🇮🇱 Israel 1 broker AMF Autorité des Marchés Financiers 🇫🇷 France 0 brokers Bank of Lithuania Bank of Lithuania 🇱🇹 Lithuania 0 brokers CNB Czech National Bank 🇨🇿 Czech Republic 0 brokers FI Finansinspektionen 🇸🇪 Sweden 0 brokers FMA (AT) Austrian Financial Market Authority 🇦🇹 Austria 0 brokers

3Moderate

Tier 3: Moderate regulation

Established offshore or emerging-market regulators with capital and reporting requirements but limited retail protection.

FSC (MU) Financial Services Commission, Mauritius 🇲🇺 Mauritius 24 brokers BAPPEBTI Commodity Futures Trading Regulatory Agency 🇮🇩 Indonesia 23 brokers CMA (Kenya) Capital Markets Authority of Kenya 🇰🇪 Kenya 18 brokers SCB Securities Commission of The Bahamas 🇧🇸 Bahamas 10 brokers CIMA Cayman Islands Monetary Authority 🇰🇾 Cayman Islands 7 brokers Labuan FSA Labuan Financial Services Authority 🇲🇾 Malaysia (Labuan) 5 brokers JSC Jordan Securities Commission 🇯🇴 Jordan 4 brokers BMA Bermuda Monetary Authority 🇧🇲 Bermuda 3 brokers

4Light

Tier 4: Light / offshore

Light-touch offshore licensing, registration-only jurisdictions or self-regulatory dispute bodies. Minimal practical protection.

FSA (Seychelles) Financial Services Authority Seychelles 🇸🇨 Seychelles 62 brokers VFSC Vanuatu Financial Services Commission 🇻🇺 Vanuatu 42 brokers BVI FSC British Virgin Islands Financial Services Commission 🇻🇬 British Virgin Islands 12 brokers FSC (Belize) Financial Services Commission of Belize (formerly IFSC) 🇧🇿 Belize 12 brokers FinaCom The Financial Commission 🇭🇰 International (Hong Kong-registered) 2 brokers CBCS Central Bank of Curaçao and Sint Maarten 🇨🇼 Curaçao 1 broker MISA Mwali International Services Authority 🇰🇲 Comoros (Mohéli) 1 broker SVG FSA Financial Services Authority of St. Vincent and the Grenadines 🇻🇨 St. Vincent & the Grenadines 0 brokers