Forex Regulators by Tier

Every forex regulator behind the brokers we review, grouped into tiers by how much protection they actually give you, with links to each official licence register.

A broker’s licence is only as good as the regulator that issued it. Below is every regulator behind the brokers we review, sorted into tiers by what each one actually demands: capital requirements, client money segregation, compensation schemes, enforcement record and whether you can check a licence on a public register.

The tier feeds straight into our scores. Regulation is worth 28 of 100 points, and we always score the entity that would open your account in your country, not the strongest licence on the group’s homepage. The full rules are on how we review brokers.

What the tiers mean

  • Tier 1: strict capital rules, segregated client funds, active enforcement, and usually a compensation scheme or negative balance protection backed by law.
  • Tier 2: real supervision and public registers, with lighter capital rules or less consistent enforcement than tier 1.
  • Tier 3: offshore licences. Cheap to obtain, high leverage allowed, limited enforcement, and little you can do if a withdrawal stalls.
  • Tier 4: registration with almost no ongoing oversight. Treat it as no protection.

Tier 1: top-tier regulators

RegulatorJurisdictionBrokers reviewedOfficial register
FCAUnited Kingdom8Check a licence
ASICAustralia6Check a licence
MASSingapore0Check a licence

Tier 2: solid regulators

RegulatorJurisdictionBrokers reviewedOfficial register
FSCASouth Africa4Check a licence
CySECCyprus (EU)3Check a licence
DFSADubai International Financial Centre, UAE3Check a licence
CIMACayman Islands1Check a licence
CMA (UAE)United Arab Emirates (onshore)1Check a licence
CMA KenyaKenya1Check a licence
FSRA (ADGM)Abu Dhabi Global Market, UAE1Check a licence

Tier 3: offshore regulators

RegulatorJurisdictionBrokers reviewedOfficial register
FSA SeychellesSeychelles8Check a licence
FSC MauritiusMauritius4Check a licence
FSC BelizeBelize3Check a licence
SCB BahamasThe Bahamas3Check a licence
FSC BVIBritish Virgin Islands2Check a licence
CBCS (Curaçao)Curaçao and Sint Maarten1Check a licence
Labuan FSALabuan, Malaysia (offshore centre)1Check a licence

Tier 4: minimal oversight

RegulatorJurisdictionBrokers reviewedOfficial register
FSA St VincentSt Vincent and the Grenadines4Check a licence
MISA (Mwali)Mwali (Moheli), Comoros1-
VFSCVanuatu1Check a licence

How to check a licence yourself

Open the official register from the table, search the exact company name printed in the broker’s legal documents (not the brand name), and confirm the licence number and status match. Then check that this company is the one named in the client agreement for your country. If the names don’t match, the stronger licence isn’t protecting you.