31 forex regulators, rated.

One of the most demanding regimes in the world. Running an FCA-authorised broker means real people, real premises, real capital, and continuous reporting.

Arguably the strictest retail FX regime anywhere. Capital requirements are so high that only a handful of firms serve US retail forex clients. FIFO and no-hedging rules, plus thin competition that can mean less competitive pricing, make it a tough market for US traders.

A rigorous onshore regulator that tightened retail CFD rules sharply in 2021 and has kept them in place.

Formed on 1 January 2023 from the merger of IIROC and the MFDA, CIRO oversees Canada's investment dealers alongside the provincial securities regulators. Conservative and well supervised, in a country widely regarded as one of the safest places in the world to invest.

New Zealand's conduct regulator. Under the Financial Markets Conduct Act 2013, firms offering derivatives to retail clients need a derivatives issuer licence, with real capital and reporting requirements.

Switzerland sets one of the highest bars in the world for forex: a firm dealing FX with retail clients needs a full Swiss banking licence. Only a small number of banks offer it.

Japan runs the world's largest retail FX market, and its regulator keeps it on a short leash: strict leverage, mandatory trust segregation, and a closed door to foreign brokers.

A demanding regulator with one of the highest capital bars in the world for forex, which is why only a small number of firms hold a leveraged FX licence.

Singapore's central bank and financial regulator. Rigorous, conservative, and highly respected internationally.

The UAE has three regulators to know. The DFSA (Dubai International Financial Centre) and FSRA (Abu Dhabi Global Market) run English-style common-law financial centres. Onshore, the Capital Market Authority replaced the SCA from 1 January 2026.

The EU's busiest hub for retail brokers. A solid framework with EU-wide passporting, though quality varies across a large number of licensees.

Applies the same EU framework as Cyprus, with a smaller and generally more established group of investment firms.

A well-regarded EU regulator in a country with a strong financial system. Few retail FX brokers are based in Sweden, but those that are operate under the full EU rulebook.

Estonia's financial regulator applies the full EU rulebook. Its reputation was dented by the Danske Bank Estonia money-laundering scandal, uncovered in 2018, and by years of easy crypto licensing.

Gibraltar is a British Overseas Territory with its own regulator and a rulebook derived from UK and EU law. A small but established centre, particularly for online gambling, insurance, and crypto.

A serious, diligent regulator in one of the world's leading financial centres and a major domicile for investment funds. CIMA is enabling on leverage, but holds licensees to genuinely high standards, and staying compliant is significant work.

The regulator for one of the world's best-known international financial centres. Investment businesses are licensed under the Securities and Investment Business Act 2010, with experienced directors, audited accounts, and ongoing oversight.

A well-established offshore regulator operating under the Securities Industry Act 2024. It requires real local presence, publishes enforcement decisions, and has a dedicated registration category for CFD dealers.

A substantive onshore regulator that requires a real local presence. It is lighter on product rules than the UK or Australia, but increasingly active.

A popular mid-tier jurisdiction that requires genuine local substance and has been tightening its rules. The FSC is a signatory to IOSCO's multilateral agreement on cross-border regulatory cooperation.

Malaysia's offshore financial centre, with more substance than its reputation suggests: a physical office, local staff, meaningful capital, and an explicit leverage ceiling.

Georgia's central bank licenses and supervises brokerage companies, with ESMA-style leverage limits and negative balance protection. A newer forex jurisdiction with a short track record.

A legitimate regulator that has raised its standards in recent years, but remains a lighter-touch regime than the UK or Cayman.

Historically one of the easiest forex licences to obtain. Requirements have tightened in recent years, but oversight remains thin compared with every jurisdiction above.

A long-running offshore regulator that has updated its laws (the Financial Services Commission Act 2023), but remains a basic offshore regime with limited supervision.

The SVG regulator has stated that companies registered there are not licensed to carry out forex broker activity. A company registration is not a broker licence.

Saint Lucia's regulator has published a warning that forex business is not licensed in Saint Lucia. Companies there can be registered, but not licensed as forex brokers.

These authorities on the islands of Mohéli (Mwali) and Anjouan sell forex, banking, and insurance licences. Comoros' central bank, the Banque Centrale des Comores, has publicly warned that they are fictitious structures with no power to license financial institutions.

The Marshall Islands is a company-registration and shipping registry jurisdiction. There is no dedicated financial services regulator for forex brokers.

Dominica's Financial Services Unit oversees offshore banks, insurers, credit unions, and money services businesses, but does not supervise forex brokers. Licences sold as 'Dominica forex licences' do not carry real broker oversight.

Nevis is known for asset-protection companies (LLCs and business corporations). Retail forex brokerage is not on the regulator's list of licensed activities, so a Nevis company is a registration, not a licence.