CFTC / NFA Regulated Forex Broker Reviews

 


The following is a list of forex brokers that are regulated by the CFTC and are NFA members, or are under the jurisdiction of the OCC as a bank. While all of the brokers below are regulated, most have had regulatory action taken against them. Brokers in the table are sorted approximately from the least to the most regulatory actions taken against them. The name in the NFA report may not exactly match the name the company uses to solicit clients. 

This list changes several times per year, so check back often for updates. Last updated December 2017.

 
 Broker Regulatory Record Capital Reserves Broker Type Spreads Accounts and funding User Interface Details
Oanda Clean

Review Details     

NFA profile     

TD Ameritrade Clean

Review Details     

NFA Profile     

 Forex.com

ISSUES

Review Details     

NFA Profile     

 Interactive Brokers

ISSUES (1)

Exited Retail

Forex   

 FXCM ISSUES (1)(2)(3)

Banned From

USA

The following is a list of CFTC / NFA regulated Introducing Brokers (IBs) who have had regulatory action against them, or who introduce their clients to forex firms that have been subject to regulatory action. It is these other firms who will be holding your money and acting as the counterparty to your trades if you open a trading account through the IB's. Since the IBs need to be compensated, a forex trader is usually better off dealing directly with the forex firm rather than going through an IB. Therefore, we don't provide reviews for any of these IBs.

Broker Regulatory Record Details
 Cobra Trading

 IB for Interactive Brokers, who has been subject to regulatory action  

 NFA Profile      
 MB Trading

IB for TradeKing Forex, who is IB for Gain Capital

 NFA Profile 
 Futures Online

IB for Gain Capital, who has been subject to regulatory action

NFA Profile     
 TradeKing / Zecco 

IB for Gain Capital, who has been subject to regulatory action

NFA Profile     
 ZuluTrade

NO LONGER REGULATED: Fully exited US retail forex marketplace in 2016

NFA Profile     
 CompassFX

IB for various brokers; CompassFX has been subject to regulatory action 

NFA Profile     
 Traders Choice FX

 IB for various brokers; Traders Choice FX has been subject to regulatory action  

NFA Profile     
 Back Bay FX

NO LONGER REGULATED: Fully exited US retail forex marketplace in 2016

NFA Profile     
 ATC Brokers

ATC Brokers is an IB who has been subject to regulatory action

NFA Profile     
 Global Futures

Global Futures is an IB who has been subject to regulatory action

NFA Profile     
 CMS Forex

IB for FXCM, who has been subject to regulatory action

NFA Profile     

 FastBrokers

IB for FXCM, who has been subject to regulatory action NFA Profile     
 WhoTrades

IB for FXCM, who has been subject to regulatory action

NFA Profile     

 

If a forex broker not on these lists claims to be regulated by the CFTC and NFA, ask them for their NFA ID. If they can't or won't tell you, they may be lying. Forex firms can't solicit retail forex clients unless they are NFA members with an NFA ID, or are a bank covered by the OCC. If they do have an NFA ID, please contact us and we'll add them to our list.