Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026

We’ve personally tested and ranked the top brokers regulated by the US Financial Industry Regulatory Authority (FINRA), ensuring high standards of trust and reliability.

Written By
Royston Wild

Fact Checked By
Tobias Robinson

Edited By
James Barra

Updated
October 12, 2026

Jump To: Top List Compare Opinions Tutorial

Your capital is at risk. Trade only with funds you can afford to lose.

Tested with a live trading account Accept traders from United States

Our Top Pick in USA 1

Interactive Brokers 4.3/5

eToro USA 3.4/5

Moomoo 3.2/5

Firstrade 4.0/5

Compare Interactive Brokers and eToro USA Details

Showing 4 of 4 matching brokers

1

Interactive Brokers

4.3/5 our rating

Available in United States Not available in United States

Rating breakdown

Regulation & Trust 4.5

Assets & Markets 4.7

Fees & Costs 4.3

Platforms & Tools 3.3

Customer Support 3.0

Education 4.3

Research 4.4

Accounts & Banking 3.5

Visit Interactive Brokers Read Review

Interactive 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, SFC, Europe and beyond, making it a trusted global trading broker.

Demo Account
✓

Minimum Deposit
$0

Minimum Trade
$1

Leverage
1:50 (major forex pairs), 1:2-1:4 (equities)

Copy Trading
✗

Regulator
SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS

Instruments
Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies

Platforms
Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower

Account Currencies
USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Automated Trading
TWS API

AI
✓

Guaranteed Stop Loss
✗
2

eToro USA

3.4/5 our rating

Available in United States Not available in United States

Rating breakdown

Regulation & Trust 4.0

Assets & Markets 2.9

Fees & Costs 3.4

Platforms & Tools 3.5

Customer Support 3.0

Education 3.0

Research 3.5

Accounts & Banking 3.0

Visit eToro USA Read Review
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. This site is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

eToro is a platform for social investing that provides options for both short and long-term trading on stocks, ETFs, options, and crypto. The platform is recognized for its easy-to-use, community-oriented interface and reasonable fees. Used by millions globally with a string of awards, eToro is a reputed name in the industry. Trading on eToro is facilitated by eToro USA Securities, Inc.

Demo Account
✓

Minimum Deposit
$50

Minimum Trade
$10

Leverage
✗

Copy Trading
✓

Regulator
SEC, FINRA

Instruments
Stocks, Options, ETFs, Crypto

Platforms
eToro Trading Platform & CopyTrader

Account Currencies
USD

Automated Trading
✗

AI
✓

Guaranteed Stop Loss
✗
3

Moomoo

3.2/5 our rating

Available in United States Not available in United States

Rating breakdown

Regulation & Trust 4.2

Assets & Markets 3.3

Fees & Costs 3.0

Platforms & Tools 3.0

Customer Support 3.3

Education 4.0

Research 3.5

Accounts & Banking 3.0

Visit Moomoo Read Review

Moomoo is a regulated trading platform overseen by trusted regulators like the SEC. It provides a simple, cost-effective method to trade in stocks, ETFs, and various assets from China, Hong Kong, Singapore, the US, and Australia. They provide the option for margin trading, along with no minimum deposit requirement, and several bonus options.

Demo Account
✓

Minimum Deposit
$0

Minimum Trade
$0

Leverage
1:2

Copy Trading
✗

Regulator
SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC

Instruments
Stocks, Options, ETFs, ADRs, OTCs ,Futures

Platforms
Desktop Platform, Mobile App

Account Currencies
USD, CAD, AUD, JPY, MYR, HKD, SGD, CNY

Automated Trading
Moomoo OpenAPI

AI
✓

Guaranteed Stop Loss
✗
4

Firstrade

4.0/5 our rating

Available in United States Not available in United States

Rating breakdown

Regulation & Trust 3.5

Assets & Markets 4.3

Fees & Costs 3.8

Platforms & Tools 3.5

Customer Support 3.5

Education 4.0

Research 4.3

Accounts & Banking 3.8

Visit Firstrade Read Review

Firstrade is a US-based discount broker-dealer authorized by the SEC and a member of FINRA/SIPC. It offers welcome bonuses, advanced tools and apps, and commission-free trading. Firstrade Securities is a popular top online brokerage, and opening a new account is fast and simple.

Demo Account
✗

Minimum Deposit
$0

Minimum Trade
$5

Leverage
1:2

Copy Trading
✗

Regulator
SEC, FINRA

Instruments
Stocks, ETFs, Options, Mutual Funds, Bonds, Fixed

Platforms
Firstrade Invest 3.0, TradingCentral

Account Currencies
USD

Automated Trading
✗

AI
✓

Guaranteed Stop Loss
✗

Compare the Best FINRA-Regulated Brokers

Broker	USD Account	Demo Account	Minimum Deposit	Minimum Trade	Leverage	Copy Trading	Regulator	Instruments	Platforms	Account Currencies	Automated Trading	AI	Guaranteed Stop Loss
	✓	✓	$0	$1	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	TWS API	✓	✗
	✓	✓	$50	$10	✗	✓	SEC, FINRA	Stocks, Options, ETFs, Crypto	eToro Trading Platform & CopyTrader	USD	✗	✓	✗
	✓	✓	$0	$0	1:2	✗	SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC	Stocks, Options, ETFs, ADRs, OTCs ,Futures	Desktop Platform, Mobile App	USD, CAD, AUD, JPY, MYR, HKD, SGD, CNY	Moomoo OpenAPI	✓	✗
	✓	✗	$0	$5	1:2	✗	SEC, FINRA	Stocks, ETFs, Options, Mutual Funds, Bonds, Fixed	Firstrade Invest 3.0, TradingCentral	USD	✗	✓	✗
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 Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026 are.

Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts
	4.5	✗	✗	✓
	4.0	✗	✗	✓
	4.2	✗	✗	✓
	3.5	✗	✗	✓
Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts

Mobile Trading Comparison

Compare the mobile trading features of the Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026.

Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App
	iOS & Android	4.3	4.5	✓
	iOS & Android	4.3	4.0	✗
	Yes (iOS & Android)	4.6	3.8	✗
	iOS & Android	4.7	4.2	✗
Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App

Comparison for Beginners

Compare how suitable the Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026 are for beginners.

Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions
	✓	$0	$1	4.3	3.0	✓	✗
	✓	$50	$10	3.0	3.0	✓	✗
	✓	$0	$0	4.0	3.3	✓	✗
	✗	$0	$5	4.0	3.5	✓	✗
Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions

Comparison for Advanced Traders

Compare how suitable the Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026 are for advanced or professional traders.

Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours
	TWS API	✗	✓	✓	✗	1:50 (major forex pairs), 1:2-1:4 (equities)	✓	✓
	✗	✗	✓	✓	✗	✗	✓	✓
	Moomoo OpenAPI	✗	✓	✓	✗	1:2	✓	✓
	✗	✗	✗	✓	✗	1:2	✗	✓
Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours

Accounts Comparison

Compare the trading accounts offered by Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026.

Broker	Demo Account	Interest on Cash	Islamic Account	Joint Account	Managed Account	PAMM	MAM	LAMM	Pro Account
	✓	USD: 3.14%, GBP: 3.24%	✗	✓	✓	✗	✓	✗	✗
	✓	USD: 4.05%	✗	✗	✓	✗	✗	✗	✗
	✓	USD: 3.35%	✗	✗	✗	✗	✗	✗	✗
	✗	✗	✗	✓	✗	✗	✗	✗	✗
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 Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026 in key areas.

Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support
	4.5	3.3	4.7	4.4	4.3	3.5	4.4	4.3	3.0
	4.0	3.5	2.9	4.2	3.4	3.0	3.5	3.0	3.0
	4.2	3.0	3.3	4.2	3.0	3.0	3.5	4.0	3.3
	3.5	3.5	4.3	4.5	3.8	3.8	4.3	4.0	3.5
Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support

Fee and Cost Comparison

Compare the cost of trading with the Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026.

Broker	Cost Rating	Fixed Spreads	Inactivity Fee	EUR/USD Spread	Crypto Spread
	4.3	✗	$0	0.08-0.20 bps x trade value	0.12%-0.18%
	3.4	✓	$10	✗	BTC 0.75%
	3.0	✗	$0	✗	0.49% per spot Bitcoin trade (US), 0.3% to 0.39% (Singapore)
	3.8	✗	$0	✗	Variable
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
	4,300,000	3.0	5,528	4.5	4.3
	3,200,000	4.0	32,286	4.0	4.3
	24,000,000	4.0	734	3.8	4.6
	✗	1.8	53	4.2	4.7
Broker	Customers	Trustpilot Score	Trustpilot Reviews	Android App Rating	iOS App Rating

Broker Popularity

See how popular the Best Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026 are in terms of number of clients.

Broker	Popularity
Moomoo	24,000,000
Interactive Brokers	4,300,000
eToro USA	3,200,000

Why Trade With Interactive Brokers?

4.3/5

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.

Christian Harris
Review Author

Pros

IBKR is a highly regarded brokerage, regulated by multiple respected authorities. This speaks to its legitimacy and standing within the online trading industry, providing peace of mind.
IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
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

IBKR offers many research tools. However, the tools are not uniformly distributed across trading platforms and the web-based 'Account Management' page, causing confusion for the users.
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.
In 2025, IBKR was fined $11.8 million by the US OFAC for offering services in restricted areas. It also faced a $125,000 fine from FINRA in 2025 for failing to disclose municipal bond information.

Visit Interactive Brokers Read Review

Why Trade With eToro USA?

3.4/5

eToro is a strong choice for traders seeking social investing and copy trading. Its low deposit, zero commissions, and easy-to-use platform suit new traders.

James Barra
Review Author

Pros

The online broker provides a user-friendly social investment network for easy crypto trading replication.
The low minimum deposit and simple account setup allow beginners to start trading quickly.
eToro USA Securities is a reliable broker that's regulated by the SEC, part of FINRA, and a member of SIPC.

Cons

Average fees may reduce active traders' profit margins.
The range of trading instruments is limited compared to some competitors, offering mainly stocks, ETFs, a large selection of options, and cryptocurrencies.
Traders used to third-party charting tools won't find MetaTrader 4 platform integration.

Visit eToro USA Read Review

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. This site is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

Why Trade With Moomoo?

3.2/5

Moomoo is a great option for beginner and intermediate traders aiming to diversify their investment portfolio. The brokerage's app is easily navigable and the trading fees are significantly low.

James Barra
Review Author

Pros

The broker provides early access to trading hours before the market opens.
API Skills offers agentic investing for retail traders. Users can connect their AI agents, such as Claude or OpenAI, to Moomoo's platform to execute algorithmic strategies using natural language.
Moomoo offers detailed analytics and insights compared to other brands.

Cons

The account options are limited compared to similar brokerages, with no managed portfolios or robo-advisor solutions.
No negative balance protection, a standard safety feature at top-tier regulated brokers.
Moomoo has received several regulatory penalties lately, including fines and orders in 2026 that temporarily halted the acceptance of some Japanese and Chinese clients.

Visit Moomoo Read Review

Why Trade With Firstrade?

4.0/5

Firstrade is ideal for beginners wanting to trade US stocks without commission fees. It offers plenty of free educational resources and high-quality research, including its new FirstradeGPT tool. Users also get trading ideas from Morningstar, Briefing.com, Zacks, and Benzinga.

James Barra
Review Author

Pros

Great broker for cost-conscious traders with low OTC fees
Trusted US-regulated broker, member of SIPC
Improved platform in 2025 with Firstrade Invest 3.0, featuring a cleaner interface and faster order entry for active traders in key areas like watchlists and options chains.

Cons

Firstrade does not offer a demo or paper trading account, unlike over 90% of other options we've reviewed.
Visa card deposits and withdrawals are not accepted.
Customer support needs improvement after testing, but 24/7 help is now available.

Visit Firstrade Read Review

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Filters

How BrokerListings.com Selected the Top FINRA-Regulated Brokers

To find the most trustworthy brokers overseen by FINRA (the Financial Industry Regulatory Authority):

Regulatory Verification: Each broker’s registration and disciplinary record were verified through FINRA’s BrokerCheck database. This ensured that all firms should operate under FINRA’s strict standards for investor protection, market integrity, and fair dealing.
Comprehensive Broker Evaluation: Using our proprietary scoring framework, we reviewed over 200 data points per broker, including platform reliability, pricing transparency, investment options, and customer service responsiveness.
Hands-On Testing: Our team opened accounts to test providers. This allowed us to assess not only regulatory compliance but also execution, ease of use, and the overall trading experience from a trader’s perspective.

BrokerListings.com Broker Testing Methodology

What Is FINRA?

The Financial Industry Regulatory Authority (FINRA) is one of several bodies that oversees the smooth and orderly running of financial services and markets in the US.

Established in 2007, the organization’s mission statement is “to protect investors and safeguard the integrity of our vibrant capital markets to ensure that everyone can invest with confidence.”

It is a self-regulatory body that operates under the umbrella of the US Securities and Exchange Commission (SEC), which is responsible for the broader regulation and oversight of the country’s securities markets.

FINRA issues licenses to brokers, supervises their conduct, and carries out enforcement action when it considers rules have been breached. It has been designated Category A status by BrokerListings.com under our broker regulator rating system.

As a consequence, traders who use a FINRA-registered broker can expect an excellent level of service.

Pro tip: More than 3,180 companies and 639,000 financial services representatives are licensed by FINRA.

What Powers Does FINRA Have?

FINRA is charged with regulating three types of entity:

Broker-dealers, which buy and sell securities for customers as well as themselves.
Capital acquisition brokers, which offer a more limited range of services (such as advising companies on capital raising and corporate restructuring).
Funding portals, which facilitate crowdfunding campaigns through online platforms.

All registered broker-dealers and brokers that trade securities in the US must adhere to rules that FINRA has written. The regulator closely supervises their activities to ensure compliance, and undertakes enforcement measures when appropriate.

It has established four key objectives for its regulatory activities. These are:

“obtaining restitution for harmed customers.”
“ridding the industry of brokers engaged in fraud or other egregious misconduct.”
“protecting seniors and vulnerable investors.”
“ensuring the integrity of the markets.”

FINRA has a range of tools it can use to penalize rulebreakers. It can impose informal disciplinary actions like Cautionary Actions for minor infractions. For more serious cases it can impose sanctions that include financial penalties, suspending and barring firms from undertaking certain activities, and striking companies from its register.

In March 2025, the regulator ordered Robinhood to pay a total of $29.75 million “for violating numerous FINRA rules.”

These breaches included providing customers with inaccurate or incomplete disclosures; failing to implement reasonable anti-money laundering systems; failing to reasonably supervise its clearing technology system; and failing to comply with reporting requirements.

The $29.75 million sum comprised a $26 million fine and $3.75 million in restitution for customers.

What Rules Must A FINRA Broker Follow?

The FINRA Rulebook provides a comprehensive list of obligations entities must meet. These include:

Observing “high standards of commercial honor and just and equitable principles of trade.”
Ensuring that transactions are “as favorable as possible under prevailing market conditions” for the customer, based on factors like the asset price, market liquidity, and the size and type of the transaction.
Using “reasonable diligence, in regard to the opening and maintenance of every account, to know (and retain) the essential facts concerning every customer.”
Making sure that “a recommended transaction or investment strategy involving a security or securities is suitable for the customer.”
Confirming that all communications are “based on principles of fair dealing and good faith, must be fair and balanced, and must provide a sound basis for evaluating the facts.”
Ensuring that retail communications that compare investments and services “must disclose all material differences between them,” including on costs, potential returns and tax features.
Guaranteeing that “securities that are held on margin for a customer and that are eligible to be pledged or loaned” are not done so without prior client authorization.
Taking care to “establish and maintain a system to supervise the activities of each associated person” so that FINRA rules are followed.

How Can I Check If A Brokerage Is FINRA Regulated?

Traders and investors can simply and quickly check a broker’s regulatory status using FINRA’s BrokerCheck search facility. This can be used to search for both companies and individuals.

Let’s say I wish to check that eToro USA is FINRA-authorized. I click over to the ‘Firm’ tab, type the broker’s name into the ‘Firm Name’ field and hit the ‘Search’ button:

Finding eToro USA on the FINRA BrokerCheck

Searching for eToro USA using FINRA’s BrokerCheck facility. Source: FINRA

My search generates one result, confirming that eToro USA is licensed and revealing basic information like the company’s Central Registration Depository (CRD) registration number and registered address.

Locating eToro USA using FINRA’s BrokerCheck facility. Source: FINRA

Clicking on the information box gives me even more details like the type of business it conducts, categories of registrations with FINRA and SEC, and disclosures on items like regulatory events and criminal matters.

I can also download a ‘Detailed Report’ from this page. This document provides a more comprehensive picture of the broker and its activities.

eToro USA’s detailed profile on FINRA’s BrokerCheck. Source: FINRA

FINRA set up the BrokerCheck Help Line to help individuals navigate the search facility and understand the information provided. It can be reached on (800) 289-9999.

FINRA also maintains a list of people it has barred from working for any entity that it oversees. On top of this, traders can view a database of companies and individuals against whom it has taken disciplinary action since 2005.

Pro tip: Consider using a broker with a USD account if you actively trade in the US. These accounts can save you a wedge of cash by avoiding currency conversion fees.

Bottom Line

Verifying that the broker you use is licensed and supervised by FINRA is an essential step for all traders. Individuals using FINRA-authorized brokers can expect an excellent level of protection from bad business practices and fraudulent activity.

Bad actors still operate in the US, like any other territory. So it’s critical to keep your eyes peeled for potential threats.

Article Sources

Financial Industry Regulatory Authority (FINRA)

About FINRA – FINRA

How FINRA Serves Investors and Members – FINRA

On the Front Lines of Investor Protection – FINRA

Enforcement – FINRA

Sanction Guidelines – FINRA

FINRA Rules – FINRA

FINRA Orders Robinhood Financial to Pay $3.75 Million in Restitution to Customers; Fines Robinhood Financial and Robinhood Securities for Anti-Money Laundering, Supervisory and Disclosure Violations – FINRA

BrokerCheck – FINRA

Individuals Barred by FINRA – FINRA

FINRA Disciplinary Actions Online – FINRA