Compare the 5 best CFTC regulated forex brokers in 2024

The CFTC is a government agency that regulates forex brokers in the United States. This page reviews the best CFTC brokers to help you chose the right one.
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Updated: Aug 5, 2023
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Our forex trading experts have investigated and reviewed the best CFTC regulated forex brokers and you can find out which platforms ranked the best on this page. Rean on to learn more about how the CFTC helps protect traders and find the best broker for your needs. 

Best 5 CFTC regulated brokers overall

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account

What are the best CFTC regulated forex broker?

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In the table below you will find the best CFTC regulated forex brokers. All of these platforms have been selected by our forex experts and you can register an account in just a few minutes. 

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1
Min. Deposit
100 €
Best offer
User Score
10
Handel in +2000 CFD's op aandelen, forex, indices, crypto, opties, grondstoffen en meer
Onbeperkte risicovrije demo-account
0 commissies & aantrekkelijke spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Debetkaart, Discover, Google Pay, Kredietkaart, Mastercard, Overschrijving, PayPal, SEPA, Trustly, Visa, ,
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
100 €
Best offer
User Score
10
Start Trading
Payment Methods:
Apple Pay, Google Pay
Full Regulations:

71% of retail CFD accounts lose money.

3
Min. Deposit
85 €
Best offer
User Score
9.9
MT4 met instrumenten in 9 time-frames met 30 vooraf geïnstalleerde indicatoren
Handel op spreads van zo laag als 0.0 pips
Meerdere financiering en snelle opnamemogelijkheden. Kies uit PayPal en meer
Start Trading
Payment Methods:
Cryptocurrencies, Kredietkaart, Overschrijving, PayPal, ,
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 5 CFTC regulated brokers, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

What is CFTC regulated forex broker?

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It’s a forex broker that is regulated, authorised, and overseen by the Commodity Futures Trading Commission (CFTC) in the United States. The CFTC is a US government agency that regulates the futures and options markets, which includes foreign exchange. 

The CFTC follows the framework of the Commodity Exchange Act (CEA), which has been a federal law since 1936. The CEA regulates the trading of commodities futures contracts and options, and the Commodity Futures Trading Commission is its primary regulatory agency.

Benefits of using a forex broker regulated by the CFTC

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There are lots of benefits of using a CFTC regulated forex trading platform. Here’s a selection of some of the main ones. 

Protection. 

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The CEA requires all forex brokers regulated by the CFTC to adhere to strict rules and regulations. These are designed to protect traders and investors from fraud and other misleading practices. CFTC regulations state brokers must segregate client funds, report financial information regularly, and comply with anti-money laundering rules. 

Transparency. 

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You will benefit from transparent pricing when you trade forex with a broker regulated by the CFTC. The CFTC states that all brokers must always provide clear prices, including bid and ask spreads, commissions and other fees. This transparent pricing means you can make informed decisions without worrying about unexpected charges. 

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If you use a CFTC regulated trading broker, you will have access to legal recourse if you ever enter a dispute. The CFTC complaint process offers a dispute resolution service, and the authority has the power to enforce penalties and fines against brokers who violate its regulations. 

U.S. markets access. 

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U.S. markets are among the most liquid in the world and when you use a CFTC regulated platform, you’ll have access to them. While it is possible to trade U.S. markets from anywhere worldwide, using a U.S. broker makes the process much easier and often faster.

How to check if a forex broker is regulated by the CFTC

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You can check if a forex broker is regulated by the CFTC very easily; the process takes just a few minutes, and here’s how to do it:

Step 1. Go to the CFTC’s website

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The first step you need to take is to visit the CFTC’s office website at www.cftc.gov

Step 2. Navigate to the Learn and Protect page

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From the homepage of the cftc.gov website, find the ‘Learn and Protect’ page. Now click the ‘Check registration and disciplinary history’ button. 

Step 3. Search for a forex broker

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To search for a forex broker, click the ‘Visit the NFA Basic database’ link. This will take you to the official NFA website, where you can use the search bar and enter a forex broker’s name or licence number. 

Step 4. Check the results.

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The search results will show you all regulatory information available for the broker you’ve entered details for. If it is registered, you will find its contact information and licence number

Step 5. Verify the information.

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Once you have a forex broker’s licence number, you should visit its websites and cross-reference to ensure you are on a legitimate page. You will usually find the broker’s licence number at the bottom of its homepage or in its ‘about us’ section. 

How should I choose a CFTC regulated forex broker?

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There are a few features you should consider before choosing a CFTC regulated trading platform. Depending on your experience and trading style, some may be more important than others. Here are a few tips you can use to find the best CFTC regulated FX broker. 

Check the broker’s compliance history. 

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Before registering an account with a CFTC regulated forex broker, research its compliance history. Look out for any past violations or disciplinary actions taken by the CFTC. Stay away from platforms with a long history of issues or fines. 

Look at the broker’s trading platform and technology. 

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The best CFTC regulated forex brokers will have reliable and user-friendly trading platforms. Most brokers offer several options, so make sure you use one with a platform you’re comfortable with. Using a broker that offers advanced trading and charting tools is also helpful. 

Consider spreads, commissions, and fees. 

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You’ll have to pay a spread on every trade when you trade the forex market. This is the difference between the buy and sell price for any pair, and you should use a broker that offers competitive spreads. Some platforms also charge commissions, so make sure you take into account all fees before joining. 

Investigate the broker’s reputation and user reviews.

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It is important you evaluate a broker’s reputation and reviews. The best option is to go with a platform with a strong industry reputation and you can use independent third-party websites to find reviews from other traders. 

Should I use a CFTC regulated forex broker?

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If you are a United States resident, using a CFTC regulated forex broker is your best option. The CFTC protects against unscrupulous brokers and has many rules and regulations to keep traders safe.

While it is possible to use an offshore broker, the best way to trade the forex market from the U.S. is to use a broker regulated by the CFTC or the NFA. Forex brokers regulated by the CFTC must have a minimum of $20,000,000 in capital, which is considerably higher than other regulators. This large sum means only the best-funded FX platforms can obtain licences. 

There are some drawbacks to using a CFTC FX broker, most notably the inability to trade CFDs. Although there are many other ways to trade the forex market in the U.S., It is also possible to trade with up to 50:1 leverage, which is higher than many other regulatory bodies allow. 

Register now with a CFTC regulated forex broker

What are the risks of using a CFTC regulated forex broker?

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There are some negatives to using a CFTC broker such as no CFDs, no hedging, and the first in first out (FIFO) rule. Here’s a few of the pros and cons of using a forex broker regulated by the CFTC. 

Benefits

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  • Your funds are kept in a segregated bank account
  • It is easy to check regulatory status for any broker
  • The CFTC provides strong protection for users
  • You can trade with leverage

Risks

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What are the fees for using a CFTC regulated forex broker?

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Every forex trading platform will have its own fee schedule so charges will vary from broker to broker. You can generally expect to pay spreads, commissions, or a combination of both. Some platforms offer fixed spreads, so you’ll always know what a trade will cost, but some have variable spreads, so your fees will change depending on market conditions. 

Depending on the type of trading account you open, you may be required to pay commissions, although this is usually only applicable to ECN platforms. You should also consider payment charges that some brokers apply. These can include a small fee for using a specific type of payment option; usually its free to use a debit card. 

Methodology: How did we choose the best CFTC brokers?

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Our forex experts tested each platform on this page and scored each one for several features. The testing included opening an account, depositing funds, placing a trade, and withdrawing funds. We also looked at various aspects of each platform, such as spreads, commissions, payment charges, and other fees. We also checked each one’s CFTC regulatory status. 

Our evaluation was not solely based on our findings but also considered online reviews and research. You can find an in-depth analysis of each of the brokers we have included in our comparison guide. Our rankings are not influenced by any broker, however, we may receive a commission if you register an account using a link on this page. 

Please visit our full review process page for further information about our methodology

Choose a CFTC regualted FX broker

FAQs

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Are CFTC regulated brokers safe?
Who is the best CFTC regulated forex broker?
What is the difference between a CFTC licence and CFTC regulation?
Why do people use unregulated brokers?
Can a regulated broker steal your money?


Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.