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Best CIMA Regulated Forex Brokers 2020

FX Empire Editorial Board
Last Update:
At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.
Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

Moneta Markets

Regulated By:CIMA

Foundation Year:2019

Headquarters:4th Floor The Harbour Centre, 42 N Church St, George Town, Cayman Islands

Min Deposit:$200

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Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. General Advice Warning The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, and after considering the legal documents.

Moneta Markets was founded in 2020 and is a trademark of Vantage International Group Limited which is authorised and regulated by the Cayman Islands Monetary Authority (CIMA).

Users can trade on more than 300+ financial CFD instruments covering Forex, Commodities, Indices, Cryptocurrencies and Shares on the custom-built Moneta Markets Web Trader platform which provides an all-in-one account opening, funds management and trading solution. Users can also trade from the Moneta Markets AppTrader for Android and iOS.

Pros: Cons:
  • 300+ financial CFD instruments to trade on.
  • Segregated client funds held with National Australia Bank.
  • All-in-one Moneta Markets Web Trader platform.
  • Good range of trader research and education tools.
  • Offshore Cayman Islands regulation.
  • No online details regarding trading commissions.

Forex.com

Regulated By:CFTC, NFA

Foundation Year:1999

Headquarters:135 US Highway 202/206 Bedminster, New Jersey, 07921

Min Deposit:$50

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CIMA Regulated Brokers Comparison Table

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
Moneta Markets
Visit Broker>

Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. General Advice Warning The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, and after considering the legal documents.

CIMA

$200

1:500

Proprietary

2019

STP

Visit Broker>

Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. General Advice Warning The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, and after considering the legal documents.

FOREX.com
Visit Broker>

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFTC, NFA

$50

1:50

MT4, MT5

1999

Market Maker

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

Introduction to CIMA Regulation

CIMA stands for the Cayman Islands Monetary Authority. It is hard to ignore the fact that the Cayman Islands used to be a safe haven for those who didn’t want too much scrutiny in regards of where their funds came from. This means that a lot of money laundering would be done in the Cayman Islands and although this meant that there were a lot of cash inflows, it was not only illegal but unethical. Arms dealers, terrorists among other unscrupulous clients were basically home free when they did their ‘accounting affairs’ in the Cayman Islands. With the establishment of CIMA, this is no longer the state of affairs.

CIMA began work in 1997 with the aim of safeguarding the reputation of the Cayman Islands as a transparent and thriving financial market that was up to date with international standards. It came about after the coming together of two regulatory bodies which are the Cayman Islands Currency board and the Financial Services Supervision Department of the Cayman Islands Government. In 2003, a law was passed to safeguard CIMAs operational independence and as a result, CIMA has since been able to enhance operations and meet international standards of accountability.

CIMA Responsibilities

CIMA is responsible for oversight and regulation of the financial service providers in the Cayman Islands. These service providers include credit providers, insurance providers, trusts, co-operative societies, investment funds and securities. According to section 34 of the Monetary Law of the Cayman Islands, CIMA may create, amend and implement policies concerning the securities, commodities, derivatives and forex markets.

CIMA is in charge of receiving applications from financial service providers, reviewing and making decisions on them. If an application is rejected, CIMA is meant to provide a written notice of the decision to the applicant.

How CIMA Regulation Protects You

CIMA provides an updated list of entities that are licensed to carry out business within the financial sector. This protects you by preventing you from selecting a broker that is not licensed therefore saving you from undue stress that would have come about as a result of fraud or poor service. You are also informed about excluded persons so that when doing business with such entities, you are fully aware that they are not regulated by CIMA. Conflict resolution is also part of CIMAs responsibilities such that if an investor is not in agreement with his/her brokerage over a certain decision, they can report this issue to CIMA after which a way forward will be forged based on the state of affairs.

Guidelines for CIMA Regulated Brokers

Brokers licensed by CIMA are required to safeguard the investors’ capital. This means that they are supposed to inform their customers of the risk involved in participating in the market and only offer advice after the client has consented to understand the risks. The broker is required to exercise fair/timely allocation and execution of trades to clients. They should not overcharge the client for services offered and also not put the client’s capital in an undesirable market position. Client’s assets must be protected against insolvency to the best of the broker’s ability and if this is not possible, the broker must ensure equivalent monetary reimbursement. Statements of accounts should be issued to investors on a regular basis to ensure transparency in their dealings.

Trade With A Regulated Broker

  • Your capital is at risk