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Best FINMA Regulated Forex Brokers 2022

Updated: Jun 22, 2022
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If you are a forex trader based out of Switzerland then you will need a FINMA regulated broker. With a wide choice of brokers, how can you know which you should be trading with?

We have done the work for you so you don’t need to! Our list is compiled from deep research into all the facets of the broker. Enjoy.

The brokers below represent the best FINMA Regulated Brokers.

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BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptooffers promotions
Swissquote Bank
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Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.

FCA, FINMA, CSSF

$1000

1:30 (FCA), 1:100 (FINMA), 1:30 (CSSF)

MT4, MT5, Advanced Trader

1996

Bank, Dealing Desk, Market Maker, No dealing desk

FlowBank SA
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Your capital is at risk.

FINMA

$0

1:200 (FINMA)

MT4, MT5, FlowBank Pro, FlowBank App

2020

Market Maker

FXTM
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82% of retail CFD accounts lose money

FCA, CySEC, FSC

$50

1:30 (FCA), 1:30 (CySEC), 1:3500 (FSC)

MT4, MT5, Proprietary

2011

No dealing desk, ECN, Market Maker

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.

Here’s a list of The Best CFD Trading Brokers 
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

Swissquote

Regulated by:FCA, FINMA, CSSF

Headquarters:Switzerland

Foundation Year:1996

Min Deposit:$1000

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Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.

Swissquote Group Holding Ltd is Switzerland’s leading provider of online financial and trading services and has been listed on the SIX Swiss Exchange (SQN) since May 2000, employing 662 staff.

One its entities called Swissquote Bank Ltd holds a banking licence issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and offers four different types of trading accounts called Standard, Premium, Prime and Professional, with the first three accounts offering zero commissions. They also provide free demo trading accounts.

Through Swissquote Bank users trade on Currency pairs, FX options, Indices, Precious Metals, Commodities and Bonds via CFDs, as well as gain access to an eBanking portal with a personal Swiss IBAN account number.

Pros: Cons:
  • Swiss banking licence.
  • Accounts come with eBanking portal and personal Swiss IBAN number.
  • Wide range of trading platforms including Advanced Trader and MetaTrader.
  • Good selection of tradable asset classes including 45 FX Options.
  • Accounts with best spreads have high minimum deposits but smaller accounts are still competitive.

FlowBank

Regulated by:FINMA

Headquarters:Switzerland

Foundation Year:2020

Min Deposit:$0

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Your capital is at risk.

FlowBank is a Swiss online bank that provides multiple financial solutions, from conventional banking to trading and investing. Having been founded in 2020, the company quickly asserted itself as a reliable partner to retail traders and value investors from Europe and elsewhere. FlowBank’s clients can choose from an impressive assortment of over 50 000 instruments at an above-average cost.

The company is licensed to provide financial services by Switzerland’s main regulatory body, ensuring very high protection. Another major advantage of working with FlowBank is the more than 50,000 instruments made available to traders and investors. Additional benefits include its excellent custom-built platform and its comprehensive research materials.

Pros: Cons:
  • Strong licensing by FINMA
  • Over 50 000 instruments
  • Comprehensive technical analyses
  • Excellent trading platform
  • 24/6 customer support
  • Above-average fees
  • Educational materials not particularly suitable for beginners
  • Only two deposit and withdrawal options
  • No negative balance protection

FXTM

Regulated by:FCA, CySEC, FSC

Headquarters:Cyprus

Foundation Year:2011

Min Deposit:$50

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82% of retail CFD accounts lose money

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available.

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

Introduction to FINMA Regulation

FINMA which stands for Financial Markets Authority is the autonomous and independent financial markets regulator in Switzerland. It is charged with the responsibility of overseeing legal operations and fair play of banks, insurance providers, asset management firms, securities exchange dealers among other investment schemes and participants of the financial markets. It is an institution that came to being following the merger of the Swiss Federal Banking commission, the Anti-Money Laundering Control Authority and the Swiss Federal Banking commission as a directive of the Federal Act on the Financial Market Supervisory Authority in 2002. FINMA is funded by levies charged on companies that operate within this sector.

FINMA Responsibilities

As stated in the Financial Act on the Financial Market Supervisory Authority (FINMASA) this body is charged with protecting the functionality of the financial market by issuing operating licenses to organizations. This means that they have to make sure that the licensees are compliant with all laws and regulations surrounding the financial sector. This in effect protects the welfare of the investors and industry players alike. By making sure that companies in this industry are accountable, confidence in investors is restored and the financial sector grows.

Their regulation also encompasses providing a level playing ground for competitors in the financial sector. In addition to this, it tasked with ensuring liquidity of financial institutions and mitigating risk where issues such as bankruptcy and financial restructuring are involved. FINMASA organises for audits to be carried out on its licensees although the cost of this activity is borne by the licensee. In the event that the audit report submitted indicates violation of any legislation surrounding the financial sector, the company is given adequate time to comply, failure to which the necessary legal action is taken.

How FINMA Regulation Protects You

FINMA protects investors by making sure that they are not exposed to unnecessary risk and by making sure that brokerages are accountable to their clients. They do this by making sure that there is no misuse of insider information, no market manipulation and maintain a watch list/restricted list of companies that are being closely monitored perhaps based on foul play reported in the past. They have the authority to monitor employee transactions to prevent them from taking advantage of the markets due to their position for their own personal benefit. Deposits you make as an investor who is a client of a bank or securities exchange firm are protected up to the value of CHF 100,000 in the event that the bank/broker goes bankrupt. FINMA is also open to you as an investor in case you encounter any violation of you rights within the financial markets.

Guidelines for FINMA Regulated Brokers

Any company or entity carrying out an activity that requires a license is liable to have legal action taken against them as per the financial markets act. This includes monetary fines and/or custodial sentence according to severity of the offence. As mentioned above, FINMA has the mandate to request for company information and in return, the licensee is required to share it, failure to which necessary legal action will be taken.

Trade With A Regulated Broker