A Contract for Difference (CFD) is a bilateral agreement between you and the broker to exchange the price difference of an underlying asset between the open and close of the contract. You never own the underlying. CFDs allow leveraged exposure to forex, stocks, indices, commodities, ETFs and cryptocurrencies.

What does 'offshore licensing' mean?

Offshore licensing refers to brokers regulated by jurisdictions such as Seychelles FSA, FSC Mauritius, SVG FSA, IFSC Belize, and VFSC Vanuatu. These are legitimate regulators but provide a materially lighter consumer-protection framework than tier-1 regulators like FCA, ASIC, CySEC, NFA, or BaFin.

How are Forex Broker Checker scores calculated?

Scores are fit-for-category, not absolute. We evaluate five factors: regulator tier, pricing transparency, withdrawal experience, platform stability, and disclosure quality. A broker scored highly in 'zero-commission breadth' is being judged against that category's requirements — not the entire market.

Why are retail CFD loss rates so high (70-85%)?

Leveraged trading magnifies both gains and losses. A 2% adverse move on a 30:1 position represents a 60% drawdown on the margin posted. Combined with spread/commission costs, overnight swaps, and behavioral asymmetry between fear and greed, the math works against most retail accounts.

What is negative-balance protection?

Negative-balance protection (NBP) is a regulatory guarantee that a retail trading account cannot go below zero. If a flash-crash or volatility event drives your position into a loss greater than your equity, the broker — not you — absorbs the difference. Mandatory across the EU/UK under ESMA/FCA rules and in Australia under ASIC.

Why don't most CFD brokers accept US clients?

The CFTC has historically taken the position that bilateral, off-exchange CFDs offered to retail US clients are problematic. There is no widely-adopted retail-CFD regulatory framework in the US comparable to the EU or Australia. US retail traders use spot forex (via NFA-registered dealers), exchange-traded futures and options, and US-listed equities instead.

Forex Broker Checker — Independent CFD & Forex Broker Reviews 2026

Forex Broker Checker ranking · by category

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200INVEST

VIE FINANCE SEY LTD · est. 2022

Forex Broker Checker pick Offshore Seychelles FSA · SD123 200+ instruments 0% commission Best for zero-commission breadth

4.8/5

Forex Broker Checker score

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IG Group

Founded 1974 · LSE-listed

FCA BaFin ASIC Best for top-tier regulation

Top-tier regulator

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eToro

Social trading · copy-portfolios

FCA CySEC ASIC Best beginner-friendly UI & education

Beginner-friendly

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Saxo Bank

Licensed Danish bank · SaxoTrader

FSA-DK FCA MAS Best for advanced charting & pro tools

Pro / institutional

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Pepperstone

MT4 / MT5 / cTrader · forex-focused

FCA ASIC DFSA Best for forex (tight spreads, MetaTrader)

Forex-focused

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CMC Markets

Founded 1989 · LSE-listed

FCA ASIC BaFin Best multi-asset breadth (regulated)

Multi-asset breadth

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Plus500

LSE-listed · proprietary WebTrader app

FCACySECASICBest for a simple CFD trading app

Simple CFD app

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Capital.com

Founded 2016 · award-winning app

FCACySECASICBest for AI-driven beginner tools

Beginner tools

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Interactive Brokers

NASDAQ-listed · global since 1978

SECFCAASICBest for low-cost professional access

Pro / institutional

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OANDA

Founded 1996 · forex pioneer

FCACFTCASICBest for forex (US-friendly)

Forex pioneer

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XM

Major retail forex · MT4 / MT5

CySECASICFSCABest for retail multi-account

Retail-friendly

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FxPro

Established 2006 · multi-platform

FCACySECFSCABest for established forex

Established forex

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AvaTrade

Multi-licensed · MT4 / MT5 / WebTrader

CBIASICFSCABest for multi-jurisdictional reach

Multi-jurisdictional

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Trading 212

Commission-free · UK / EU retail

FCACySECBest commission-free retail (regulated)

Commission-free

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IC Markets

Tight spreads · MT4 / MT5 / cTrader

ASICCySECFSA-SCBest for tight-spread scalping

Tight spreads

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Forex.com

Since 1999 · StoneX-owned · CFTC / NFA / FCA / ASIC

FCACFTCNFAASICBest US-friendly retail forex

US-regulated forex

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HFM

Major retail · MT4 / MT5 · FCA / CySEC / FSCA

FCACySECFSCABest for multi-region retail

Multi-region retail

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ThinkMarkets

Founded 2010 · ThinkTrader · FCA / ASIC

FCAASICFSCABest for established multi-asset

Established multi-asset

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Vantage

Founded 2009 · MT4/MT5 · ASIC / FCA

ASICFCABest for CFD-focused retail

CFD-focused retail

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Admirals

Founded 2001 · MT4/MT5 · FCA / CySEC / ASIC

FCACySECASICBest for long-established retail

Long-established

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200INVEST overview

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Markets covered

Stocks

Crypto

Forex

Commodities

Indices

ETFs

Live forex market

Live · Powered by TradingView

Market sentiment & positioning

Live · TradingView widgets

Major Pairs & Markets Live prices & daily change

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Forex Strength Heatmap Currency strength vs each pair

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Review

200INVEST: a polished CFD platform with broad market reach

Review covering platform UX, fees, withdrawals, and the offshore-licensing caveat.

FAQ

How do I check if a broker is properly regulated?

Seychelles FSA · SD123. Note Seychelles is an offshore jurisdiction with a lighter framework than top-tier regulators.

Caveat

Things to weigh before opening a CFD account

Leveraged CFDs amplify both gains and losses. US clients are not eligible. Min deposit is $200.

Risk

Retail CFD loss rates: what regulators publish

Top-tier regulators report 70–85% of retail CFD accounts lose money. Read full disclosure below.

Frequently asked

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How do I check if a broker is properly regulated?

Every regulated broker is listed on its regulator's public license register. Find the broker's claimed license number and look it up directly on the regulator's official website (FCA, ASIC, CySEC, NFA, BaFin, MAS, etc.). Verify license status (active / restricted / revoked), legal entity name match, and any published warnings. No verifiable license = serious red flag.

What's a typical minimum deposit for forex / CFD brokers?

Minimum deposits vary widely — from $0 (Trading 212, eToro, Plus500) to $10,000+ for institutional accounts (Saxo Bank). Most retail forex brokers sit at $100–$250. The minimum tells you about the broker's target customer, not the quality of the platform. Common funding methods: Visa, Mastercard, Maestro, Skrill, Google Pay, bank transfer.

What markets can I trade with a CFD / forex broker?

Most brokers offer at least: forex (currency pairs), indices (SPX500, NAS100, etc.), commodities (gold, oil, gas), and major stocks as CFDs. Many also include cryptocurrencies, ETFs, and treasuries. Asset coverage varies — check each broker's instrument list before opening an account.

What does a typical withdrawal process look like?

Reputable brokers return funds to your original deposit method within 1–3 business days on the broker side. Card and e-wallet withdrawals are usually faster than bank wires. Watch for: retroactive KYC requests at withdrawal time, unexpected fees, or requests to deposit more before withdrawal — all are warning signs.

Do brokers offer mobile apps?

Yes — most modern brokers ship native iOS and Android apps with most or all of the desktop functionality. Common third-party platforms (MetaTrader 4/5, cTrader, TradingView) also have mobile apps that connect to broker accounts.

How do I check if a broker accepts clients from my country?

Check the broker's signup page or the "Restricted countries" section in their terms of service. Common restrictions: US clients (most non-US-licensed brokers can't onboard them), and sanctioned jurisdictions. Top-tier regulators also restrict their licensed brokers from soliciting clients in regions they're not authorized for.

Important notices

Retail CFD loss rate (regulator data)

70–85%

Brokers in directory

20+ tracked

Top-tier regulators tracked

FCA · ASIC · CySEC · NFA

Disclosure

Forex Broker Checker is an independent broker research site. We are not affiliated with, operated by, or endorsed by any of the brokers featured in our directory. The information here is opinion and reference data, not financial advice. Always do your own research before opening an account with any broker.

⚠ Risk Warning

CFDs and forex are leveraged products and carry a high level of risk. A high percentage of retail investor accounts lose money when trading CFDs — top-tier regulators (FCA, ASIC, CySEC) report figures of 70–85%. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. Brokers in our directory operate under varying regulatory frameworks — top-tier regulators (FCA, ASIC, CySEC, NFA, BaFin, MAS, etc.) provide stronger consumer protections than offshore jurisdictions. Verify that any broker is suitable for your jurisdiction and your personal circumstances before depositing funds. Forex Broker Checker does not provide financial advice.

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Forex Broker Checker ranking · by category

200INVEST overview

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Score breakdown

Quick facts

Markets covered

Live forex market

Market sentiment & positioning

Latest from the desk

Frequently asked

Important notices

Disclosure

⚠ Risk Warning