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 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 and UK TV, and been a guest on finance podcasts, discussing reports conducted by BrokerListings.com and sharing his expertise.
James Barra Profile PageAugust 28, 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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2eToro 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. With oversight from FINRA and SIPC, and used by millions globally, eToro is a reputed name in the industry. Trading on eToro is facilitated by eToro USA Securities, Inc.
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3Moomoo 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.
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4Firstrade 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.
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 | $0 | 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 | ✓ | ✗ | |
 |
✓ | ✓ | $50 | $10 | ✗ | ✓ | SEC, FINRA | Stocks, Options, ETFs, Crypto | eToro Trading Platform & CopyTrader | USD | ✗ | ✓ | ✗ | |
 |
✓ | ✓ | $0 | $0 | 1:2 | ✗ | SEC, FINRA, SIPC, MAS, SFC, ASIC, FMA, CIRO, CIPF, JFSA, SC | Stocks, Options, ETFs, ADRs, OTCs ,Futures | Desktop Platform, Mobile App | USD, CAD, AUD, JPY, MYR, HKD, SGD, CNY | Moomoo OpenAPI | ✓ | ✗ | |
 |
✓ | ✗ | $0 | $5 | ✗ | ✗ | 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 |
|---|---|---|---|---|
|
✗ | ✓ | ✓ | |
|
✗ | ✗ | ✓ | |
|
✗ | ✗ | ✓ | |
|
✗ | ✗ | ✓ | |
| 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 | ✓ | ||
|
iOS & Android | ✗ | ||
|
Yes (iOS & Android) | ✗ | ||
|
iOS & Android | ✗ | ||
| 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 | $0 | ✓ | ✗ | ||
|
✓ | $50 | $10 | ✓ | ✗ | ||
|
✓ | $0 | $0 | ✓ | ✗ | ||
|
✗ | $0 | $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 |
|---|---|---|---|---|---|---|---|---|
|
Capitalise.ai, TWS API | ✗ | ✓ | ✓ | ✗ | 1:50 (major forex pairs), 1:2-1:4 (equities) | ✓ | ✓ |
|
✗ | ✗ | ✓ | ✓ | ✗ | ✗ | ✓ | ✓ |
|
Moomoo OpenAPI | ✗ | ✓ | ✓ | ✗ | 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 |
|---|---|---|---|---|---|---|---|---|---|
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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 Financial Industry Regulatory Authority (FINRA) Regulated Brokers 2026.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|
|
✗ | $0 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
|
✓ | $10 | ✗ | BTC 0.75% | |
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✗ | $0 | ✗ | 0.49% per spot Bitcoin trade (US), 0.3% to 0.39% (Singapore) | |
|
✗ | $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 | 5,492 | |||
|
3,200,000 | 32,061 | |||
|
24,000,000 | 504 | |||
|
✗ | 53 | |||
| 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 |
|
| Interactive Brokers |
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| eToro USA |
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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 provides a cost-effective platform for traders by offering low fees, narrow spreads, and clear pricing.
- The TWS platform is designed for intermediate to advanced traders. It includes over 100 order types and a dependable real-time market data feed that rarely experiences downtime.
- Interactive Brokers was awarded 'Best US Broker' for 2025 by DayTrading.com for its dedication to US traders, ultra-low margin rates, and affordable global market access.
Cons
- 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.
- 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.
Why Trade With eToro USA?
eToro is a strong choice for traders seeking social and copy trading. Its low deposit, zero commissions, and easy-to-use platform suit new traders.
Pros
- Traders can use Smart Portfolios for a simpler approach, covering multiple sectors and markets like renewable energy and artificial intelligence.
- The broker's Academy provides extensive educational resources for traders, ranging from beginners to advanced levels.
- A free demo account enables new users and potential traders to test the broker without risk.
Cons
- The range of trading instruments is limited compared to some competitors, offering mainly stocks, ETFs, a large selection of options, and cryptocurrencies.
- Average fees may reduce active traders' profit margins.
- Traders used to third-party charting tools won't find MetaTrader 4 platform integration.
Why Trade With Moomoo?
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.
Pros
- Moomoo is a FINRA and SIPC member, providing additional security for potential clients interested in trading.
- The fees for options contracts have been lowered from $0.65 to $0.
- Moomoo's insights and analytics are more comprehensive and detailed than 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.
Why Trade With Firstrade?
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.
Pros
- 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.
- Great broker for cost-conscious traders with low OTC fees
- Trusted US-regulated broker, member of SIPC
Cons
- Customer support needs improvement after testing, but 24/7 help is now available.
- Firstrade emphasizes stocks and lacks forex options, reducing diversification opportunities.
- Firstrade does not offer a demo or paper trading account, unlike over 90% of other options we've reviewed.
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.
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 3,250 companies and 625,000 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:
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)
How FINRA Serves Investors and Members – FINRA
On the Front Lines of Investor Protection – FINRA