FINMA · Switzerland
Swiss Financial Market Supervisory Authority
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.
- Retail leverage
- No ESMA-style statutory cap. Swiss banks set their own limits, typically up to around 100:1 on major pairs for retail clients.
- Compensation
- esisuisse deposit protection of up to CHF 100,000 per client applies to cash held at a Swiss bank. Securities held in custody are kept off the bank's balance sheet.
- Capital
- Statutory minimum capital of CHF 10 million for a bank, plus ongoing Basel capital and liquidity requirements.
- Supervision & substance
- Full banking supervision: Swiss management, independent audits by FINMA-approved auditors, and continuous capital and liquidity reporting.
- Stocks, futures & crypto
- The same banking licence covers stocks, futures, and options. Switzerland built crypto into its laws early (the DLT Act of 2021), and FINMA-licensed banks offer regulated crypto trading and custody.
- Trade-off
- Very few providers, higher minimum deposits, and onboarding that is slower and more document-heavy than elsewhere.
What it means for you: Bank-grade protection with more leverage than the EU allows. The catch is cost and access, not safety.
Common questions about FINMA
Is FINMA a good regulator for forex brokers?
In our view, FINMA is a top-tier regulator (Tier 1 · Top-tier onshore). 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. Bank-grade protection with more leverage than the EU allows. The catch is cost and access, not safety.
What leverage can brokers regulated by FINMA offer retail clients?
No ESMA-style statutory cap. Swiss banks set their own limits, typically up to around 100:1 on major pairs for retail clients.
Is there a compensation scheme if a broker regulated by FINMA fails?
esisuisse deposit protection of up to CHF 100,000 per client applies to cash held at a Swiss bank. Securities held in custody are kept off the bank's balance sheet.
Does FINMA regulate stocks, futures, or crypto?
The same banking licence covers stocks, futures, and options. Switzerland built crypto into its laws early (the DLT Act of 2021), and FINMA-licensed banks offer regulated crypto trading and custody.
A licence only protects you if your account is with the entity that holds it. Many broker groups hold several licences and onboard clients through an offshore entity. Check your client agreement, and verify the licence on the regulator's own register.
See how all 31 regulators compareSimilar regulators
FCA
United Kingdom
Tier 1 · Top-tier onshoreCFTC / NFA
United States
Tier 1 · Top-tier onshoreASIC
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Tier 1 · Top-tier onshoreWe have done the broker homework.
See which brokers made our shortlist, the entities and licences behind each one, and member pricing.
Tiers and ratings are M1 Strategic's own assessment, based on public sources listed in our regulator guide. Rules change: always verify with the regulator directly. Not financial advice.