Best Brokers Regulated Under ESMA/MiFID Rules 2026
We’ve tested and ranked the top European Securities and Markets Authority (ESMA)-compliant brokers, ensuring high standards of trust for retail traders in the EU.
Written ByRoyston Wild
Royston is a seasoned investor and financial writer with over a decade of experience analyzing brokers and investment markets. With a background in stocks, commodities, and forex reporting - he brings a fresh perspective to broker evaluations.
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Fact Checked ByTobias Robinson
Tobias is committed to helping traders find the right brokerage for their needs. He has tested 200+ brokers, spent 2,600+ hours using different platforms, and placed 2,100+ trades.
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Edited ByJames Barra
James is an experienced broker analyst with a background in financial services. He has spent 2,500+ hours testing brokers, used 35+ different platforms and apps, audited 120+ broker T&Cs, and verified 300+ regulatory licenses. James has also been on US, UK and German TV, and been a guest on finance podcasts, discussing reports conducted by BrokerListings.com and sharing his expertise.
James Barra Profile PageAugust 10, 2026
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1Interactive Brokers (IBKR) is a leading brokerage offering access to over 170 markets in 40 countries and a range of investment services. With 40+ years in the industry, this Nasdaq-listed company follows strict regulations by the SEC, FCA, CIRO, and SFC, making it a trusted global trading broker.
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2NinjaTrader is a US-based brokerage regulated for trading futures. It offers three different pricing plans for varied needs and budgets, along with extremely low margins on popular contracts. The company's renowned charting software and trading platform provides extensive customization options and excellent technical analysis features.
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3Crypto.com is a leading cryptocurrency exchange focused on advancing DeFi technologies. It provides token lending, prepaid cards, NFTs, and more. Founded in Hong Kong in 2016, it serves 150 million users.
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4Pionex is a platform for cryptocurrency trading. It focuses on trading robots and offers many pre-built bots and strategies. It also features integrated Artificial Intelligence to assist in customizing strategies. Both spot crypto markets and crypto futures can utilize these services.
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5Coinbase, started in 2012 for buying and selling Bitcoin with bank transfers, has grown into a major crypto company. It now offers over 240 crypto assets, advanced trading platforms for investors, is listed on the U.S. Nasdaq, and holds licenses from several regulators. In May 2025, Coinbase became the first crypto firm in the S&P 500, boosting its credibility.
Compare Brokers
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $0 | $100 | 1:50 (major forex pairs), 1:2-1:4 (equities) | ✗ | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | Capitalise.ai, TWS API | ✓ | ✗ | |
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✓ | ✓ | $0 (live trades must meet intraday margin minimums, e.g., $50 to trade micro contracts) | 0.01 Lots | $50 intraday margins for Micro contracts and $500 for popular E-mini contracts | ✗ | NFA, CFTC, CySEC | Futures, Forex, Stocks, Options, Commodities, Futures, Crypto (non-futures depend on provider) | NinjaTrader Desktop, Web & Mobile, eSignal | USD, EUR, GBP, CAD, AUD | NinjaScript or via Automated Trading Interface | ✗ | ✗ | |
 |
✓ | ✓ | Varies by payment method | $1 | ✗ | ✗ | SEC, FCA, MAS, AMF, CySEC, CBI, ASIC, FINTRAC, CIMA, VARA, OAM, HCMC, CFTC, OSC, KoFIU | Crypto, Stocks, ETFs, OTC Options, Tokenized Stocks, Prediction Markets and Strike Options (US only) | Own, TradingView | USD, EUR, GBP, CAD, AUD, NZD, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, PLN, CZK, AED, SAR, HUF, BRL, KES | DCA Auto-Staking | ✗ | ✗ | |
 |
✗ | ✓ | $0 | 0.1 USDT | ✗ | ✓ | NMLS, CBI, AMF | Cryptos, Perpetual Futures | Own | ✗ | Crypto bots | ✗ | ✗ | |
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✓ | ✗ | $0 | $2 | ✗ | ✗ | CSSF, CBI, CySEC, BaFin, MAS, OSC, ASIC, BMA | Crypto, Stocks, ETFs (US only), Pre-IPO Perpetual Futures (non-US) | Coinbase, Advanced Trade, Wallet, NFT, TradingView | USD, EUR | ✗ | ✓ | ✗ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Brokers Regulated Under ESMA/MiFID Rules 2026 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
|
✗ | ✓ | ✓ | |
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✗ | ✗ | ✓ | |
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✗ | ✗ | ✓ | |
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✗ | ✗ | ✗ | |
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✗ | ✗ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Brokers Regulated Under ESMA/MiFID Rules 2026.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
|---|---|---|---|---|
|
iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
|
iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Brokers Regulated Under ESMA/MiFID Rules 2026 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
|
✓ | $0 | $100 | ✓ | ✗ | ||
|
✓ | $0 (live trades must meet intraday margin minimums, e.g., $50 to trade micro contracts) | 0.01 Lots | ✗ | ✗ | ||
|
✓ | Varies by payment method | $1 | ✗ | ✗ | ||
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✓ | $0 | 0.1 USDT | ✗ | ✗ | ||
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✗ | $0 | $2 | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Brokers Regulated Under ESMA/MiFID Rules 2026 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Capitalise.ai, TWS API | ✗ | ✓ | ✓ | ✗ | 1:50 (major forex pairs), 1:2-1:4 (equities) | ✓ | ✓ |
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NinjaScript or via Automated Trading Interface | ✗ | ✗ | ✗ | ✗ | $50 intraday margins for Micro contracts and $500 for popular E-mini contracts | ✓ | ✗ |
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DCA Auto-Staking | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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Crypto bots | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✗ | ✗ | ✓ | ✓ | ✗ | ✗ | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Brokers Regulated Under ESMA/MiFID Rules 2026.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
|
✓ | USD: 3.14%, GBP: 3.24% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | USD: 5% | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Brokers Regulated Under ESMA/MiFID Rules 2026 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
|---|---|---|---|---|---|---|---|---|---|
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Brokers Regulated Under ESMA/MiFID Rules 2026.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|
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✗ | $0 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | $35 | 1.3 | Floating | |
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✗ | $5 | ✗ | 0.075% (spot), 0.034% (derivatives) | |
|
✗ | ✗ | ✗ | Market | |
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✗ | $0 | ✗ | 0.5% - 1% (BTC) | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
EUR/USD Spread |
Crypto Spread |
Customer Ratings
Compare how customers of these brokers feel about them, with real user ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Customers |
Trustpilot Score |
Trustpilot Reviews |
Android App Rating |
iOS App Rating |
|---|---|---|---|---|---|
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4,300,000 | 5,398 | |||
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1,800,000 | 1,180 | |||
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150,000,000 | 9,275 | |||
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5,000,000 | 624 | |||
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108,000,000 | 22,598 | |||
| Broker | Customers |
Trustpilot Score |
Trustpilot Reviews |
Android App Rating |
iOS App Rating |
Broker Popularity
See how popular the Best Brokers Regulated Under ESMA/MiFID Rules 2026 are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Crypto.com |
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| Coinbase |
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| Pionex |
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| Interactive Brokers |
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| NinjaTrader |
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Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
- Interactive Brokers has introduced a single platform combining prediction markets from Kalshi, CME Group, and ForecastEx. Users can trade yes/no contracts on political, economic, and climate events, with a fixed $1 payout per contract, 24/6 market access, and interest on qualified positions.
- There's a large selection of free or paid research subscriptions available to all traders. If you subscribe to Toggle AI, you will also receive commission refunds from IBKR.
Cons
- Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
- Customer service may take time to respond, and there may be delays in fixing problems based on tests. It could be difficult to reach the customer service promptly.
- TWS is complex, and beginners might find it difficult to use and understand all its features.
Why Trade With NinjaTrader?
NinjaTrader consistently satisfies active futures traders with its low-cost service and high-quality analysis tools. It offers superior charting features, including hundreds of indicators and over 10 chart types.
Pros
- In July 2026, NinjaTrader introduced CME Group Single Stock futures. This allows traders to take directional positions in major U.S. companies such as Nvidia and Amazon without using options.
- Nano contracts, which are one-hundredth the size of standard contracts, let traders adjust positions precisely and manage risks on a smaller scale. This is beneficial for those who build positions gradually.
- The market replay feature lets you download tick-by-tick historical data, go back to any date, and interact with it as if trading live. It's useful for strategy testing and real-world practice.
Cons
- Intraday margin requirements can increase up to four times in the 15 minutes before major economic news releases and may remain high for several minutes after volatility decreases. This can surprise unprepared traders at critical times.
- NinjaTrader was bought by Kraken in May 2025. Although it still operates independently, traders concerned about long-term stability may worry about changes in the platform's direction and pricing under new ownership.
- NinjaTrader was fined $250,000 in 2025 for not implementing a sufficient anti-money laundering program and for supervisory failures.
Why Trade With Crypto.com?
Crypto.com is ideal for new crypto traders looking to buy, sell, and trade over 400 digital tokens. Its strike options and prediction markets cover financial, economic, election, sport, and cultural events. As a CFTC-regulated platform, it provides a secure choice for US traders interested in binary-style contracts using an easy-to-use app.
Pros
- Crypto.com uses a cold wallet system with multi-signature technology and geographic distribution to improve security. This method ensures strong protection of user assets with secure offline storage.
- Crypto.com has integrated TradingView charts, offering the precise charting and technical analysis tools traders need to assess short-term price changes.
- In 2026, Crypto.com introduced BTC Rewards for the Crypto.com Visa Signature® Credit Card, targeting crypto enthusiasts who trade and spend in cryptocurrency.
Cons
- The app has high bid-ask spreads on many coins, which can be expensive for traders using market orders. Wide spreads mean the buying price is significantly higher than the selling price, reducing profits, especially in low-volume trades.
- Customer support mainly uses chatbots and email, with limited reliable phone support from our testing. This may cause delays in solving urgent issues like account access or transaction problems, which can be frustrating for crypto traders needing quick help.
- Fees apply to crypto and fiat withdrawals, which can be significant for active traders making smaller transfers. The minimum withdrawal limits are also high, limiting flexibility in managing smaller portfolios or immediate liquidity needs.
Why Trade With Pionex?
Pionex is a great choice for crypto traders interested in advanced AI and automated trading.
Pros
- 16+ free trading bots that require no coding. Use them with tokenized U.S. equities, real-world assets, and cryptocurrencies.
- The advanced AI chatbot 'PionexGPT' assists users in setting up trading bots using Pine script.
- Low spot trading fees at 0.05% for both maker and taker, compared to other major exchanges.
Cons
- Limited regulation increases worries about safety in trading.
- Limited contact options
- Trading may involve withdrawal fees and limits.
Why Trade With Coinbase?
Coinbase is great for beginners who want an easy-to-use platform to buy and sell various cryptocurrencies, with strong security and regulatory compliance. However, its fees are higher than competitors in our tests, and it’s less suited for short-term traders.
Pros
- Coinbase Advanced now integrates TradingView, a rare feature for crypto exchanges, enabling users to trade spot and futures markets directly from real-time charts with advanced technical analysis tools.
- Coinbase, listed on Nasdaq, complies with strict financial regulations and is licensed in the US, UK, and Europe. It offers security features like FDIC insurance for USD balances (up to $250,000) and two-factor authentication (2FA).
- Users can get a credit card by using their stablecoins (USDC) as collateral, earning up to 4% back in Bitcoin.
Cons
- Crypto fees are high based on tests, especially when compared to competitors like Kraken and BitMEX, particularly on the regular trading platform.
- Advanced Trade provides TradingView charts but lacks research tools like news feeds, economic calendars, and AI market insights.
- Customer support is frustrating during testing because most help options require login, making it difficult for locked-out users or those without accounts to get assistance.
Filters
How We Chose The Top ESMA-Compliant Brokerages
Our strict evaluation process involves three key steps:
- Verifying the regulatory status of each brokerage in our expanding database. For service providers operating in the European Union, we verify that each claiming approval by a specific regulator in the 27-country bloc is listed on the ‘ESMA Registers’ portal.
- Regularly re-checking the broker’s inclusion in that directory. National regulators can suspend or withdraw licenses if they believe serious rule breaches have occurred. We also check the regulator’s website to see if the brokers have been investigated or sanctioned.
- Testing other criteria outside the broker’s regulatory status. We look at fees and spreads, the financial markets that are available to trade, and the quality of the company’s trading platform among other things. This blends real-world testing with the hundreds of data points we collect.
What Is ESMA?
The European Securities and Markets Authority (ESMA) doesn’t directly regulate financial markets. In other words, it doesn’t involve itself in day-to-day supervision and enforcement for the companies under its purview.
Instead, its role is to co-ordinate how national regulators in each European Union (EU) member state regulate, supervise, and enforce securities and capital markets
Established in 2011, ESMA was set up in the aftermath of the 2008 financial crisis to help stabilize the EU’s financial system. Its mission is “to enhance investor protection, promote orderly financial markets and safeguard financial stability in the European Union.”
ESMA is a key plank of the European System of Financial Supervision (ESFS), alongside the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA).
Their collective role is:
- To standardize financial supervision in EU states by developing the Single Rulebook, with each of the three bodies being responsible for different parts related to their own industries.
- To ensure the Single Rulebook is applied consistently across the bloc.
- To assess risks and vulnerabilities in the financial sector.
ESMA’s own role in the development of the Single Rulebook is based on various pieces of legislation, including the Markets in Financial Instruments Directive II (MiFID II) which came into force in 2018.
Strict regulations in the EU mean ESMA – along with state-level regulators in the 27 member countries – enjoys Category A status under BrokerListings.com’s regulator classification system.
As a result, traders and investors can have confidence that licensed brokers in the region are closely observed for fraud and bad business practices, and that strong enforcement actions are taken when regulations go unobserved. Individuals can also have broader confidence in the integrity and efficiency of the EU’s financial markets.
What Powers Does ESMA Have?
The regulator’s powers include “setting common rules and standards, conducting risk assessments and directly supervising certain financial market participants, such as credit rating agencies (CRAs) as well as certain, benchmark administrators and central counterparties (CCPs), and data reporting service providers.”
- Drafting industry standards for capital and securities markets in accordance with EU financial legislation.
- Reviewing and co-ordinating the actions of national regulators across member states to ensure rules are applied consistently.
- Collecting and analyzing data to identify and counter market risks.
- Restricting or banning financial products or industry practices to protect traders and investors.
- Publishing investor warnings and alerts about market risks, fraud and other threats.
- Referring national regulators to the European Commission (EC) if it identifies serious cases of EU financial legislation not being applied correctly.
What Rules Must An ESMA-Compliant Broker Follow?
The regulations for EU brokers are guided by various pieces of legislation. MiFID II is the chief document governing how brokers treat their clients. It requires the service provider to, for example:
- Seek “the best possible result for their clients taking into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration.”
- Ensure that all information to customers or potential customers “shall be fair, clear and not misleading” and that “marketing communications shall be clearly identifiable as such.”
- Obtain information on the customer’s “knowledge and experience in the investment field relevant to the specific type of product or service,” along with their “financial situation” and “investment objectives” when investment advice or portfolio management is provided.
- Establish systems to “safeguard the ownership rights of clients” and “prevent the use of a client’s financial instruments on [the broker’s] own account except with the client’s express consent.”
MiFIR (Markets in Financial Instruments Regulation) rules, meanwhile, govern how financial markets operate and how they are supervised. These also took effect in 2018, and require brokers to undertake measures including:
- Report complete and accurate details of trades “as quickly as possible, and no later than the close of the following working day.”
- Make public “the volume and price [of transactions] and the time at which they were concluded” for trades involving stocks, exchange-traded funds (ETFs), certificates and similar financial securities on trading venues.
There are other advantages to using a broker that’s officially approved by an EU regulator. They must offer negative balance protection, for instance, which guarantees an individual can’t lose more than what they deposit in their trading or investing account.
Brokerages must also be signed up to a local financial services compensation scheme. This way, customers can seek redress in the event the company goes bust or cannot meet its financial obligations.
For instance, in France brokers must be signatories to the Fonds de Garantie des Dépôts et de Résolution (FGDR), which covers all financial securities for up to €70,000 per customer, per institution.
How Can I Check That The Brokerage Is Approved By A European Regulator?
Under passporting rules, a broker that’s licensed in one EU member state is allowed to ply its trade in any other part of the bloc.
In fact, they can use these regulations to do business across the broader European Economic Area (EEA), which comprises all EU countries as well as Norway, Iceland and Liechtenstein. This is because key financial services legislation like MiFID II is transposed across all 30 states.
But beware: protections in these three non-EU countries are less stringent. Under BrokerListings.com’s regulator ranking system, each has Category B status. So while investors and traders receive good safeguards against fraud and poor business practices, protections are less comprehensive than those offered in EU jurisdictions.
I can check whether or not a broker has been approved by an EEA regulator using the ‘ESMA Registers’ portal. Let’s say I wish to check the regulatory status of eToro, which has been providing financial services since 2007.
First, I click on the ‘MiFID/UCITS/AIFMD/EUSEF/EUVECA/ECSPR entities’ tab in the ‘List of Registers’ column on the left-hand side of the screen.
Source: ESMA
On the new page, I type the broker’s name into the ‘Entity name’ box, scroll down to the bottom and hit ‘Search.’
The process brings up one result, showing that eToro has been registered with the Cyprus Securities and Exchange Commission (CySEC) since 2010. This is important, as unlike regulators in Norway, Iceland or Liechtenstein, this particular watchdog has Category A status with BrokerListings.com.
Source: ESMA
After clicking on the ‘More Info’ tab on the right side of the screen, I am taken to another page with even more information on the company. Details include the broker’s registered address and the activities it’s approved to carry out.
Bottom Line
There’s no such thing as complete protection from fraud and bad business practises. However, by using a broker approved by an EU regulator – and which is therefore listed on the ESMA online portal – individuals can take a large step to protect their money and their sensitive personal information.
Be mindful that the portal also includes brokerages licensed in Norway, Iceland and Liechtenstein, countries where the regulatory landscape is less strict. So when using ESMA’s directory, verify that the business is registered directly in at least one EU member state as well.