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Financial Markets Authority (AMF) Brokers 2024

Written By

Royston Wild

Written By

Royston Wild

Royston is an experienced investor and writer. His expertise includes stock recommendations through to commodities, forex, and macroeconomic news. Royston's background includes roles as a stocks and commodities reporter, and editor of forex coverage at Shares Magazine.

» Royston Wild Profile Page

Edited By

James Barra

Edited By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Updated

Jun 29, 2024

In France, the Financial Markets Authority (AMF) – known locally as the Autorité des Marchés Financiers – regulates the country’s financial system and authorizes the activities of online brokers.

The AMF is considered a ‘green-tier’ regulator under our Regulation & Trust Rating, meaning that day traders can expect a high level of protection. Helpfully for investors, it regularly updates a warning list of unauthorized brokers that traders should avoid.

The French regulator is also relatively active, making 17 enforcement decisions in 2023, resulting in total financial penalties of €34.94 million. It also settled 10 cases which generated another $1.35 million in fines.

Here you’ll find a selection of the best brokers regulated by the AMF. Each one can be found on REGAFI’s database of authorized companies.

Best AMF Brokers

Following testing, these 3 AMF-regulated trading platforms stood out from the crowd:

Click a broker for details

1. 1

   
   XM
   Go To XM

   XM Review

   New Customer Bonus Offer $30 No Deposit Bonus When You Register A Real Account

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   Ratings

   Regulation & Trust 4.3 / 5

   Accounts & Banking 4.5 / 5

   Assets & Markets 4.3 / 5

   Fees & Costs 4.3 / 5

   Platforms & Tools 4 / 5

   Customer Support 4.5 / 5

   Research 4.5 / 5

   Education 4.5 / 5

   iOS App 4.7 / 5

   Android App 3.9 / 5

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   Minimum Deposit $5

   Minimum Trade 0.01 Lots

   Leverage 1:1000

   Regulator ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF

   Instruments Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures

   Platforms MT4, MT5

   Payment Methods Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa

   Account Currencies USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

   Go To XM
2. 2

   
   eToro
   Go To eToro

   eToro Review

   51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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   Ratings

   Regulation & Trust 4.8 / 5

   Accounts & Banking 4 / 5

   Assets & Markets 4.5 / 5

   Fees & Costs 3 / 5

   Platforms & Tools 4 / 5

   Customer Support 3.5 / 5

   Research 4.5 / 5

   Education 4.5 / 5

   iOS App 4.8 / 5

   Android App 4 / 5

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   Minimum Deposit $10

   Minimum Trade $10

   Leverage

   Regulator FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF

   Instruments Stocks, ETFs, Options, Crypto

   Platforms eToro Web, CopyTrader, TradingCentral

   Payment Methods Visa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, PayPal, Trustly, Przelewy24

   Account Currencies USD

   Go To eToro
3. 3

   
   Saxo Bank
   Go To Saxo Bank

   Saxo Bank Review

   66% of retail accounts lose money.

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   Minimum Deposit

   Minimum Trade Vary by asset

   Leverage 1:30

   Regulator DFSA, MAS, FCA, SFC, FINMA, AMF, CONSOB

   Instruments Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs

   Platforms TradingView

   Payment Methods Wire Transfer, Credit Card, Visa, Mastercard

   Account Currencies USD, EUR, GBP, CAD, AUD, JPY, SEK, DKK, CHF

   Go To Saxo Bank

Here is a short summary of why we think each broker belongs in this top list:

1. XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
2. eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. CFDs are not available in the US Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail accounts lose money.
3. Saxo Bank - Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.

AMF Brokers Comparison

AMF Brokers Comparison

Broker	Minimum Deposit	Markets	Platforms	Leverage
Visit	$5	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	MT4, MT5	1:1000
Visit	$10	Stocks, ETFs, Options, Crypto	eToro Web, CopyTrader, TradingCentral	-
Visit	-	Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs	TradingView	1:30

XM

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

Rebecca Holden, Reviewer

XM Quick Facts

Bonus Offer	$30 No Deposit Bonus When You Register A Real Account
Demo Account	Yes
Instruments	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
Regulator	ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF
Platforms	MT4, MT5
Minimum Deposit	$5
Minimum Trade	0.01 Lots
Leverage	1:1000
Account Currencies	USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Pros

• The broker offers premium research including market sentiment, fundamental insights and strategy builders
• 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
• Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools

Cons

• PayPal deposits are not supported
• There is weak regulatory oversight through the global entity
• There's $5 inactivity fee after only 3 months, though this won't affect active traders

Visit XM

XM Review

eToro

"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."

Christian Harris, Reviewer

eToro Quick Facts

Demo Account	Yes
Instruments	Stocks, ETFs, Options, Crypto
Regulator	FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
Platforms	eToro Web, CopyTrader, TradingCentral
Minimum Deposit	$10
Minimum Trade	$10
Account Currencies	USD

Pros

• There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
• Top copy traders can receive annual payments up to 1.5% of assets under copy in the broker's Popular Investor Program
• eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies

Cons

• Traders will face currency conversion fees for account denominations other than USD
• There are limited contact methods aside from the in-platform live chat
• The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software

Visit eToro

eToro Review

Saxo Bank

"Saxo is best for active traders and high-volume investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders."

Tobias Robinson, Reviewer

Saxo Bank Quick Facts

Demo Account	Yes
Instruments	Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs
Regulator	DFSA, MAS, FCA, SFC, FINMA, AMF, CONSOB
Platforms	TradingView
Minimum Trade	Vary by asset
Leverage	1:30
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, SEK, DKK, CHF

Pros

• Access to comprehensive third-party analysis tools including TradingView and Updata
• Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
• Excellent educational resources including podcasts, webinars and expert-led video insights

Cons

• Clients from some jurisdictions not accepted including the US and Belgium
• High funding requirements for the trading accounts
• Access to Level 2 pricing requires a subscription

Visit Saxo Bank

Saxo Bank Review

Methodology

To locate the top brokers that are regulated in France, we:

How Can I Check If A Broker Is Regulated By AMF?

There are three simple steps you can take to ascertain whether a broker has AMF authorization:

1. Go to REGAFI’s register of approved financial companies.
2. Type the broker’s name into the search field.
3. If the company appears, click on the details in the ‘REGAFI Identifier’ or ‘Name’ fields to see additional details (like business address and regulated activities).

Here you can see the results of a search I ran on eToro, revealing that the company is AMF-authorized through the EU’s cross border initiative.

Royston Wild

Author

What Rules Must AMF-Regulated Brokers Follow?

Online brokers in France must follow a strict framework of rules designed to protect retail investors and the broader financial system.

France’s membership of the European Union means that the AMF follows many requirements demanded by the European Securities and Markets Association (ESMA).

One important piece of legislation is the Markets in Financial Instruments Directive II (MiFID II), which was introduced in 2018 to safeguard investors and boost the efficiency, transparency and strength of financial markets across the European Union.

Key rules that brokers regulated in France must follow include:

• Brokers must fairly advertise trading products, and clearly display client fees.
• Customer leverage (or borrowed funds) must not exceed 1:30 for major currency pairings, and 1:20 for all other forex crosses.
• Companies must offer negative balance protection, which prevents retail investors from losing more money than they have deposited, as well as margin close-outs, where positions are shut when a trader’s margin falls below 50% of the initial required amount.
• Brokers should establish rules that allow them to prevent, identify and manage conflicts of interest.
• Brokerages must adhere to minimum capital requirements of €750,000.
• Customers’ funds must be segregated from the brokers’ operating funds, thus protecting clients’ money in the event of corporate insolvency.
• Brokers should provide adequate information on the broader risks of online trading.

The AMF can issue financial penalties, and/or suspend or revoke a trading platform’s authorization to deal if they violate regulations.

Bottom Line

A strict regulatory regime makes France a great place for day traders to set up shop. But as with any territory, investors need to be on the lookout for fraudulent actors. The AMF says that 15% of the French population have been victims of a financial scam at one time or another.

It’s therefore important that traders only use a brokerage that has regulatory approval to do business. This can be checked in just a few minutes through the AMF website. Alternatively, use our list of the best brokers regulated in France.