A global forex broker brand is not a single international license. Before comparing costs or opening a trading account, identify the company whose agreement you will sign and the country that governs the product. The distinction is especially important between US retail OTC forex and UK contracts for difference or spread bets.
In the United States: the relevant retail FX intermediary
The US CFTC registration-check guide directs prospective customers to check retail forex intermediaries and use the NFA BASIC register to examine details. The registration category and disciplinary history of a particular firm are more meaningful than a logo in a footer. Our OANDA Corporation US and FOREX.com / GAIN Capital Group LLC US profiles report issuer claims but do not assert that our newsroom has independently authenticated a live BASIC record.
Product availability and leverage rules for US retail OTC forex are not simply copied from a broker’s overseas CFD offering. A US reader must not infer eligibility for products advertised under an international domain.
In the United Kingdom: permissions and contract type
The UK FCA Firm Checker provides the appropriate starting point for a UK legal entity. Firms may offer CFDs, spread bets and other activities under different agreements. Pepperstone’s account table explicitly distinguishes CFD Standard, CFD Razor and eligible UK spread-betting options. CMC’s UK legal page likewise identifies a particular contracting company and regulatory claim.
A UK spread bet, CFD or investment holding does not automatically receive the same tax or insolvency treatment. Check the governing contract, client classification, the firm’s permitted activities and the regulator’s official explanation of relevant protections. Avoid generalizing country-specific tax guidance.
Why fees cannot be compared without product matching
Forex CFDs commonly have variable spread, commission and financing arrangements. US OTC FX providers may quote charges using different lot or notional conventions. A three-pip difference in a promotional screenshot says nothing about relative costs unless it is the same account structure, trading time, order size and instrument.
For a meaningful comparison, specify the legal entity, jurisdiction, product, trading platform, the account’s base currency, actual average spreads, entry and exit commissions, holding period and withdrawal currency. Our comparison table is designed to keep these distinctions visible.
A four-step independent verification process
- Record the full legal name on the agreement, not only the brand.
- Search the relevant regulator’s register or NFA BASIC and compare permissions and warnings.
- Save the dated fee, client-money, margin and dispute terms for the exact account.
- Test operational features in demo and seek independent advice where a product’s risks or protections are unclear.
A regulator registration record is not a certificate that you will receive a profitable trade or perfect execution.
Common mistakes and limits
Do not confuse a global license list with the permissions of your specific counterparty, claim that retail CFDs and US spot FX are identical, or treat regulator numbers copied from marketing pages as independent verification. The Market Ledger has not performed authenticated live firm-status checks, and laws and account access can change. This guide is an educational jurisdiction checklist, not legal, tax or personalized trading advice.
