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The Financial Supervision Authority, which was launched on 1 January 2002, joined the functions of Eesti Pank's Banking Supervision Authority and the Ministry of Finance's Insurance Supervision Authority and Securities Inspectorate. It is a financial supervision and crisis resolution authority with autonomous responsibilities and budget that works on behalf of the state of Estonia and is independent in its decision-making.

FSA

Regulated
AVATRADE
15-20 years
Regulated in Australia
Regulated in Japan
Regulated in Ireland
Regulated in United Arab Emirates
Regulated in South Africa
Market Making License (MM)
Forex Execution License (STP)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
9.50
Score
Regulated
Finalto
10-15 years
Regulated in Australia
Regulated in Cyprus
Regulated in United Kingdom
Regulated in The Virgin Islands
Inst Market Making (MM)
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Global Business
Medium potential risk
Offshore Regulated
9.21
Score
Regulated
XM
15-20 years
Regulated in Australia
Regulated in Cyprus
Regulated in United Arab Emirates
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
9.10
Score
Regulated
IC Markets Global
15-20 years
Regulated in Australia
Regulated in Cyprus
Market Making License (MM)
Derivatives Trading License (MM)
MT4 Full License
MT5 Full License
cTrader
Self-developed
Global Business
9.09
Score
Regulated
Exness
10-15 years
Regulated in United Kingdom
Regulated in Cyprus
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Forex Trading License (EP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
8.99
Score
Regulated
GO Markets
Above 20 years
Regulated in Australia
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
cTrader
Self-developed
8.98
Score
Regulated
fpmarkets
Above 20 years
Regulated in Australia
Regulated in Cyprus
Market Making License (MM)
Derivatives Trading License (STP)
MT4 Full License
MT5 Full License
cTrader
Self-developed
Global Business
8.88
Score
Regulated
TRADING 212
10-15 years
Regulated in Australia
Regulated in United Kingdom
Regulated in Cyprus
Regulated in Bulgaria
Market Making License (MM)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
Self-developed
Global Business
Vanuatu Forex Trading License (EP) Revoked
Medium potential risk
8.75
Score
Regulated
easyMarkets
Above 20 years
Regulated in Australia
Regulated in Cyprus
Regulated in The Virgin Islands
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Medium potential risk
Offshore Regulated
8.55
Score
Domestic Regulation
FOREX.com
Above 20 years
Regulated in Australia
Regulated in Japan
Regulated in United States
Regulated in Cyprus
Regulated in Canada
Regulated in United Kingdom
Regulated in Singapore
Forex Trading License (EP)
Derivatives Trading License (EP)
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High potential risk
8.27
Score
Regulated
Axi
15-20 years
Regulated in Australia
Regulated in United Kingdom
Regulated in New Zealand
Regulated in Cyprus
Market Making License (MM)
Derivatives Trading License (MM)
MT4 Full License
White label MT5
Self-developed
Global Business
High potential risk
8.12
Score
Regulated
LIRUNEX
5-10 years
Regulated in Cyprus
Regulated in Malaysia
Forex Execution License (STP)
Forex Transmission License (RTO)
MT4 Full License
MT5 Full License
Self-developed
8.09
Score
Regulated
Fortrade
10-15 years
Regulated in Australia
Regulated in United Kingdom
Regulated in Canada
Regulated in Cyprus
Market Making License (MM)
Derivatives Trading License (EP)
Derivatives Trading License (MM)
MT4 Full License
Self-developed
Global Business
Belarus Forex Trading License (EP) Revoked
High potential risk
8.06
Score
Regulated
Plus500
15-20 years
Regulated in Australia
Regulated in Japan
Regulated in Cyprus
Regulated in United Kingdom
Regulated in Canada
Regulated in New Zealand
Regulated in United Arab Emirates
Regulated in Singapore
Regulated in Seychelles
Regulated in Bahamas
Market Making License (MM)
Forex Execution License (STP)
Forex Trading License (EP)
Derivatives Trading License (EP)
Derivatives Trading License (MM)
Self-developed
Global Business
High potential risk
Offshore Regulated
7.99
Score
Regulated
tier1fx
Above 20 years
Regulated in Malta
Market Making License (MM)
MT4 Full License
Regional Brokers
7.90
Score
Regulated
capital.com
5-10 years
Regulated in Australia
Regulated in Cyprus
Regulated in United Kingdom
Regulated in United Arab Emirates
Regulated in Bahamas
Market Making License (MM)
Forex Execution License (STP)
Forex Trading License (EP)
Derivatives Trading License (MM)
MT4 Full License
Self-developed
Global Business
Belarus Forex Trading License (EP) Revoked
Seychelles Derivatives Trading License (EP) Revoked
High potential risk
Offshore Regulated
7.86
Score
Regulated
ColmexPRO
15-20 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
Self-developed
7.79
Score
Regulated
Pepperstone
10-15 years
Regulated in Australia
Regulated in Cyprus
Regulated in United Kingdom
Regulated in Bahamas
Market Making License (MM)
Forex Execution License (STP)
Derivatives Trading License (MM)
MT4 Full License
White label MT5
cTrader
Self-developed
Global Business
High potential risk
Offshore Regulated
7.77
Score
Regulated
ThinkMarkets
10-15 years
Regulated in Australia
Regulated in United Kingdom
Regulated in Cyprus
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
High potential risk
Offshore Regulated
7.75
Score
Regulated
RoboMarkets
10-15 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
White label MT4
White label MT5
Regional Brokers
Offshore Regulated
7.73
Score
Regulated
GBE brokers
10-15 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Offshore Regulated
7.70
Score
Regulated
TFIfx
15-20 years
Regulated in Cyprus
Market Making License (MM)
MT4 Full License
Global Business
7.63
Score
Regulated
M4Markets
2-5 years
Regulated in Cyprus
Regulated in United Arab Emirates
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
7.63
Score
Regulated
eightcap
15-20 years
Regulated in Australia
Regulated in United Kingdom
Regulated in Cyprus
Market Making License (MM)
Forex Execution License (STP)
MT4 Full License
MT5 Full License
Regional Brokers
High potential risk
7.62
Score
Regulated
FBS
5-10 years
Regulated in Australia
Regulated in Cyprus
Market Making License (MM)
MT4 Full License
White label MT5
Self-developed
Global Business
High potential risk
7.58
Score
Regulated
BROCTAGON prime
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT5 Full License
Regional Brokers
7.57
Score
Regulated
MAGIC COMPASS
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT5 Full License
Regional Brokers
7.54
Score
Regulated
LMAX GROUP
15-20 years
Regulated in United Kingdom
Regulated in Cyprus
Regulated in New Zealand
Market Making License (MM)
Forex Execution License (STP)
Inst Forex Execution (STP)
MT4 Full License
MT5 Full License
Self-developed
High potential risk
7.51
Score
Regulated
OEXN
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT4 Full License
White label MT5
Global Business
Medium potential risk
7.50
Score
Regulated
trust Capital
5-10 years
Regulated in Cyprus
Regulated in Lebanon
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
MT5 Full License
Self-developed
Regional Brokers
Offshore Regulated
7.40
Score
Regulated
InterStellar
10-15 years
Regulated in Cyprus
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Offshore Regulated
7.23
Score
Regulated
SHEER MARKETS
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT5 Full License
Regional Brokers
7.20
Score
Regulated
admiral markets
10-15 years
Regulated in United Kingdom
Regulated in Cyprus
Regulated in Seychelles
Derivatives Trading License (MM)
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High potential risk
Offshore Regulated
7.15
Score
Regulated
HFM
10-15 years
Regulated in Cyprus
Regulated in United Kingdom
Regulated in United Arab Emirates
Regulated in South Africa
Regulated in Seychelles
Market Making License (MM)
Forex Execution License (STP)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High potential risk
Offshore Regulated
7.07
Score
Regulated
MEGA EQUITY
Above 20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
THE ULTIMA
Above 20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
OLIVE TREE CAPITAL MARKETS
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
GPB-Financial Services Limited
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
Eurivex
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
Earn
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
WISDOMPOINT CAPITAL
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
SKANESTAS
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
 Zemblanco
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
7.01
Score
Regulated
Afterprime
5-10 years
Regulated in Cyprus
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
Global Business
Medium potential risk
Offshore Regulated
6.99
Score
Regulated
FxPro
15-20 years
Regulated in Cyprus
Regulated in United Kingdom
Regulated in Seychelles
Market Making License (MM)
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
cTrader
Self-developed
Global Business
High potential risk
Offshore Regulated
6.98
Score
Domestic Regulation
Just2Trade
10-15 years
Regulated in Cyprus
Regulated in United States
Market Making License (MM)
Derivatives Trading License (AGN)
MT4 Full License
MT5 Full License
Regional Brokers
High potential risk
6.96
Score
Regulated
FXVIEW
5-10 years
Regulated in Cyprus
Regulated in South Africa
Derivatives Trading License (STP)
Derivatives Trading License (EP)
MT5 Full License
Self-developed
6.95
Score
Regulated
BLUESUISSE
10-15 years
Regulated in Malta
Forex Execution License (STP)
MT4 Full License
MT5 Full License
Regional Brokers
6.93
Score
Regulated
Klips
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.90
Score
Regulated
deriv
5-10 years
Regulated in Malta
Regulated in United Arab Emirates
Regulated in The Virgin Islands
Regulated in Vanuatu
Regulated in Cayman Islands
Market Making License (MM)
Forex Trading License (EP)
Derivatives Trading License (EP)
MT5 Full License
Global Business
High potential risk
Offshore Regulated
6.87
Score
Regulated
CEX.IO Broker
2-5 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.85
Score
Regulated
JFD
10-15 years
Regulated in Cyprus
Regulated in Vanuatu
Derivatives Trading License (MM)
Forex Trading License (EP)
MT4 Full License
MT5 Full License
Global Business
Offshore Regulated
6.66
Score
Regulated
amana
5-10 years
Regulated in Cyprus
Regulated in United Arab Emirates
Regulated in Lebanon
Market Making License (MM)
Derivatives Trading License (MM)
MT4 Full License
MT5 Full License
Self-developed
High potential risk
6.66
Score
Regulated
SSC SMARTFX
5-10 years
Regulated in Cyprus
Forex Execution License (STP)
MT5 Full License
Regional Brokers
6.60
Score
Regulated
exca PRIME
Within 1 year
Regulated in Cyprus
Market Making License (MM)
White label MT5
Global Business
6.55
Score
Regulated
FXOpen
10-15 years
Regulated in Cyprus
Regulated in United Kingdom
Market Making License (MM)
Forex Execution License (STP)
MT4 Full License
MT5 Full License
Self-developed
Regional Brokers
New Zealand Inst Forex Execution (STP) Revoked
High potential risk
6.53
Score
Regulated
Key Way Investments
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.53
Score
Regulated
RYNAT
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.52
Score
Regulated
XTrend
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.52
Score
Regulated
Orbex
15-20 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
Self-developed
High potential risk
Offshore Regulated
6.51
Score
Regulated
Exclusive Capital
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.49
Score
Regulated
octa
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT4 Full License
MT5 Full License
Self-developed
Global Business
High potential risk
6.48
Score
Regulated
NSBroker
5-10 years
Regulated in Malta
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.45
Score
Regulated
WINDSOR BROKERS
Above 20 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Self-developed
High potential risk
Offshore Regulated
6.40
Score
Regulated
REDMARS
2-5 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.38
Score
Regulated
RED MARS
2-5 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
Medium potential risk
6.38
Score
Regulated
markets.com
5-10 years
Regulated in Cyprus
Market Making License (MM)
MT5 Full License
White label MT4
Self-developed
Regional Brokers
High potential risk
6.28
Score
Regulated
ONE ROYAL
10-15 years
Regulated in Australia
Regulated in Cyprus
Regulated in Vanuatu
Inst Market Making (MM)
Forex Execution License (STP)
Derivatives Trading License (EP)
MT5 Full License
Self-developed
MT4 Full License
High potential risk
Offshore Regulated
6.26
Score
Regulated
FXGROW
10-15 years
Regulated in Cyprus
Market Making License (MM)
MT5 Full License
High potential risk
6.25
Score
Regulated
TrioMarkets
10-15 years
Regulated in Cyprus
Forex Execution License (STP)
Self-developed
Suspicious Scope of Business
6.25
Score
Regulated
Harmovest Capital
Within 1 year
Regulated in Cyprus
Forex Execution License (STP)
MT5 Full License
White label MT4
Global Business
6.23
Score
Regulated
squaredfinancial
10-15 years
Regulated in Cyprus
Regulated in Seychelles
Derivatives Trading License (MM)
Derivatives Trading License (EP)
MT5 Full License
Self-developed
MT4 Full License
Global Business
High potential risk
Offshore Regulated
6.22
Score
Regulated
XGLOBAL
5-10 years
Regulated in Cyprus
Regulated in Vanuatu
Forex Execution License (STP)
Forex Trading License (EP)
MT5 Full License
Regional Brokers
Offshore Regulated
6.19
Score
Regulated
Atlantic Securities
Above 20 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
6.15
Score
Regulated
TradersTrust
15-20 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
6.15
Score
Regulated
B2BROKER
5-10 years
Regulated in Malaysia
Regulated in Cyprus
Regulated in South Africa
Regulated in United Arab Emirates
Regulated in Seychelles
Market Making License (MM)
Forex Trading License (EP)
Derivatives Trading License (MM)
Derivatives Trading License (EP)
cTrader
Self-developed
Regional Brokers
High potential risk
Offshore Regulated
6.15
Score
Regulated
NAGA
5-10 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
High potential risk
Offshore Regulated
6.09
Score
Regulated
OQtima
2-5 years
Regulated in Cyprus
Regulated in Seychelles
Derivatives Trading License (STP)
Derivatives Trading License (EP)
MT5 Full License
Global Business
Medium potential risk
Offshore Regulated
6.08
Score
Regulated
CAPEX.com
5-10 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
MT5 Full License
Self-developed
Regional Brokers
High potential risk
Offshore Regulated
6.07
Score
Regulated
equiti
5-10 years
Regulated in Cyprus
Regulated in Seychelles
Forex Execution License (STP)
Derivatives Trading License (EP)
White label MT5
MT4 Full License
Self-developed
Regional Brokers
High potential risk
Offshore Regulated
6.00
Score
Regulated
STAK FX
2-5 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
5.99
Score
Regulated
PRCBroker
10-15 years
Regulated in Cyprus
Regulated in Vanuatu
Forex Execution License (STP)
Derivatives Trading License (EP)
MT4 Full License
MT5 Full License
Regional Brokers
High potential risk
Offshore Regulated
5.97
Score
Regulated
TopFX
10-15 years
Regulated in Cyprus
Market Making License (MM)
cTrader
Suspicious Scope of Business
High potential risk
5.94
Score
Regulated
eurotrader
10-15 years
Regulated in Cyprus
Regulated in South Africa
Market Making License (MM)
Derivatives Trading License (EP)
Suspicious Scope of Business
High potential risk
5.94
Score
Regulated
3angleFX
5-10 years
Regulated in Cyprus
Derivatives Trading License (STP)
White label MT5
Regional Brokers
5.93
Score
Regulated
WWF
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.90
Score
Regulated
Alvexo
10-15 years
Regulated in Cyprus
Regulated in Seychelles
Market Making License (MM)
Derivatives Trading License (EP)
Suspicious Scope of Business
High potential risk
Offshore Regulated
5.79
Score
Regulated
ShineTrades
1-2 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
5.75
Score
Regulated
Renaissance Capital
Above 20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.73
Score
Regulated
Ronin Europe
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.73
Score
Regulated
OMEGA FUNDS INVESTMENT
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.73
Score
Regulated
Dragon Capital
15-20 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.73
Score
Regulated
iFOREX Europe
10-15 years
Regulated in Cyprus
Market Making License (MM)
Self-developed
High potential risk
5.73
Score
Regulated
T MARKETS
10-15 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.73
Score
Regulated
AUSPRIME
5-10 years
Regulated in Cyprus
Market Making License (MM)
Suspicious Scope of Business
High potential risk
5.68
Score
Regulated
HUA PRIME
1-2 years
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
5.67
Score
Regulated
XNT
10-15 years
Regulated in Malta
Inst Market Making (MM)
Suspicious Scope of Business
Medium potential risk
5.65
Score
Regulated
FXORO
15-20 years
Regulated in Cyprus
Regulated in Seychelles
Derivatives Trading License (MM)
Derivatives Trading License (EP)
Suspicious Scope of Business
High potential risk
Offshore Regulated
5.55
Score
Regulated
exenico
Within 1 year
Regulated in Cyprus
Forex Execution License (STP)
Suspicious Scope of Business
Medium potential risk
5.51
Score
Regulated
iq option
10-15 years
Regulated in Cyprus
Market Making License (MM)
Self-developed
Global Business
High potential risk
5.46
Score