RegulationNFA
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Check NFA-Regulated Brokers
Strict oversightNational Futures Association
The National Futures Association is the industry-wide self-regulatory organisation for the US derivatives markets, working alongside the CFTC. Forex dealers must register as Retail Foreign Exchange Dealers (RFEDs) or Futures Commission Merchants and meet strict capital, disclosure and conduct requirements. US retail leverage is capped very low.
7licensed brokers
Official registerLeverage cap (retail)
50:1 (majors), 20:1 (minors)
Client money
Held with strict capital and reporting rules.
Compensation scheme
No forex compensation scheme (SIPC covers securities only)
Jurisdiction
United States
Licence categories
The types of authorisation this regulator issues to brokers.
- Retail Foreign Exchange Dealer (RFED)
- Futures Commission Merchant (FCM)
- Introducing Broker (IB)
Investor protections
Safeguards available to clients under this regime.
- Strict minimum net-capital requirements
- Mandatory disclosure and reporting
- NFA arbitration for disputes
NFA-regulated brokers
Brokers on BrokerBazaar that hold a NFA licence.
IG Markets Limited – Check IG Markets Limited regulation and read the ig markets limited broker review
85/100·Min $250
OANDA – Check OANDA regulation and read the oanda broker review
75/100·Min $0
FOREX.com – Check FOREX.com regulation and read the forex.com broker review
84/100·Min $100
BGC Brokers LP – Check BGC Brokers LP regulation and read the bgc brokers lp broker review
81/100·Min NOT VERIFIED
TradeStation – Check TradeStation regulation and read the tradestation broker review
80/100·Min $0
NinjaTrader – Check NinjaTrader regulation and read the ninjatrader broker review
86/100·Min $0 ($0 baseline account opening minimum to access live/sim platforms; $5.00 minimum for ACH and debit card transfers; $400 suggested initial funding for live trading)
Marex – Check Marex regulation and read the marex broker review
82/100·Min $50,000
How does NFA compare?
See leverage caps and protections side by side with other regulators.