Commodity Futures Trading Commission (CFTC) Brokers 2024

Contributor Image
Written By
Contributor Image
Written By
Paul Holmes
Paul has over 14 years experience in the trading industry, both as a full-time trader and working with leading brokers. He’s traded indices and forex, developed proprietary day trading techniques, and built his own MetaTrader algorithms. He excels at delivering simple-to-follow guides for beginners to experienced traders.  
Contributor Image
Edited By
Contributor Image
Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
Contributor Image
Fact Checked By
Contributor Image
Fact Checked By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
Updated

If you’re an active trader in the US looking to deal in derivatives like futures and options then choose a broker regulated by the Commodity Futures Trading Commission (CFTC) to safeguard your dollars.

With a rigorous process to gain and maintain authorization, alongside increasing scrutiny and penalties in recent years, the CFTC has comfortably earned its ‘green tier’ status in DayTrading.com’s Regulation & Trust Rating.

Best CFTC Brokers

Since evaluating our first CFTC-regulated broker in 2017 (IG), hundreds of trading platforms have gone under our microscope. However, these 6 brokers that are licensed by the CFTC are the frontrunners in December 2024:

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs

    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5

    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
  2. 2
    NinjaTrader

    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4 / 5
    3 / 5
    3.2 / 5

    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer, Cheque
    USD
  3. 3
    Interactive Brokers

    Ratings
    4.5 / 5
    3.5 / 5
    4.6 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5

    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
  4. 4
    OANDA US
    CFDs are not available to residents in the United States.

    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
  5. 5
    Plus500 US
    Welcome Deposit Bonus up to $200
    Trading with leverage involves risk.

    Ratings
    3.5 / 5
    3.7 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3.5 / 5
    2.8 / 5
    3.5 / 5
    4.1 / 5
    4.3 / 5

    $100
    0.0 Lots
    CFTC, NFA
    Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
    WebTrader, App
    ACH Transfer, Wire Transfer, Debit Card, Mastercard, Visa
    USD
  6. 6
    IG
    Forex trading involves risk. Losses can exceed deposits.

    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.9 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

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

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
  3. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  4. OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
  5. Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
  6. IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

Commodity Futures Trading Commission (CFTC) Comparison

Commodity Futures Trading Commission (CFTC) Comparison
Broker USD Account Minimum Deposit Markets Platforms Leverage
FOREX.com logo
$100 Forex, Stocks, Futures, Futures Options MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:50
NinjaTrader logo
$0 Forex, Stocks, Options, Commodities, Futures, Crypto NinjaTrader Desktop, Web & Mobile, eSignal 1:50
Interactive Brokers logo
$0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral 1:50
OANDA US logo
$0 Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) OANDA Trade, MT4, TradingView, AutoChartist 1:50
Plus500 US logo
$100 Futures on Forex, Commodities, Cryptos, Indices, Interest Rates WebTrader, App -
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral 1:30 (Retail), 1:250 (Pro)

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.

Cons

  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Options, Commodities, Futures, Crypto
RegulatorNFA, CFTC
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD

Pros

  • Traders can get free platform access and trade simulation capabilities in the unlimited demo
  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
  • You can get thousands of add-ons and applications from developers in 150+ countries

Cons

  • The premium platform tools come with an extra charge
  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.

Cons

  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Jemma Grist, Reviewer

OANDA US Quick Facts

Demo AccountYes
InstrumentsForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
RegulatorNFA, CFTC
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only

Plus500 US

"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."

Michael MacKenzie, Reviewer

Plus500 US Quick Facts

Bonus OfferWelcome Deposit Bonus up to $200
Demo AccountYes
InstrumentsFutures on Forex, Commodities, Cryptos, Indices, Interest Rates
RegulatorCFTC, NFA
PlatformsWebTrader, App
Minimum Deposit$100
Minimum Trade0.0 Lots
Account CurrenciesUSD

Pros

  • The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
  • Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
  • The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts

Cons

  • The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
  • Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
  • While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks

IG

"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
PlatformsWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading, while IG has also added TradingView integration.
  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.

Cons

  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests.
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.

Methodology

To list the top brokers authorized by the CFTC, we:

  • Took our directory of 216 brokers to find those claiming CFTC registration.
  • Punched their details into the CFTC’s register (NFA Basic) to verify their authorization.
  • Blended the findings from our hands-on tests and 200+ data entries to rank the top CFTC-authorized brokers.

How Can I Check If My Broker Is Regulated By CFTC?

Verifying if a broker is CFTC-regulated is essential; below is a six-step mechanism to ensure you deal with a legitimate and compliant provider.

I’ll bring these steps to life by taking you through the check I personally conducted on OANDA US.

Founded in 1996, OANDA is regulated in multiple jurisdictions, including by the CFTC in the US, and impresses with its transparency, robust trading platforms, and financial analytics.

Step 1 – Visit The NFA Website

The NFA BASIC (Background Affiliation Status Information Center) is the official database for registered entities overseen by the CFTC.

Step 2 – Search For The Broker

In the box, type in the name of the broker you wish to search for, in this instance, OANDA Corporation.

For the most accurate results, use the exact name as listed in the broker’s materials or website.

You could also enter the NFA ID number (if provided).

Entering OANDA broker details to check for CFTC authorization

Step 3 – Verify Registration Details

Once you locate the broker, check their registration status with the CFTC and the NFA.

The profile should state whether they are registered as a:

The results will be displayed like the below. Four columns will be displayed: broker name, current NFA membership status, registration types, and regulatory actions.

OANDA entities on CFTC directory

We can see that OANDA Corporation is a CFTC-regulated broker and a registered NFA member with NFA ID 0325821.

This registration ensures that OANDA operates under the oversight of the CFTC, adhering to strict standards for transparency and accountability in the US derivatives market.

Step 4 – Active Registration

Confirm their registration is active and hasn’t been suspended or revoked.

Step 5 – Review Disciplinary History

The NFA BASIC tool also displays any disciplinary actions, complaints, or regulatory violations involving the broker.

We can see that the NFA has taken regulatory action against OANDA US. Clicking on the actions will take you to this page, which will produce the results.

Clicking the “view all actions” button takes you to this results page:

CFTC legal actions against OANDA US brokerage

If you hover over the details of a specific case number, you can click through to the details surrounding the claim.

Information on OANDA Corporation CFTC dispute

Step 6 – Check The Broker’s Website Claims

Many CFTC-regulated brokers will prominently display their NFA ID and registration details on their website. However, don’t rely solely on the broker’s claims; always verify independently via the NFA website.

If you’re uncertain about a broker’s status or the information you find, you can directly contact the CFTC or the NFA for assistance:

As the example highlighted above shows, the CFTC is highly active in protecting traders’ interests and has a deserved reputation as the strictest financial authority worldwide.
author image
Paul Holmes
Author

Red Flags To Watch For

Here are some things to be vigilant about drawing on my own years in the industry:

  • Unregistered Brokers: Any broker offering services in futures, options, or swaps in the US must be registered with the CFTC. Unregistered brokers are operating illegally.
  • No NFA ID: Legitimate brokers should be able to provide their NFA ID. Be wary if this information is missing.
  • Misleading Claims: Avoid brokers that claim to be “regulated by the CFTC” but don’t appear in the official database or have unverifiable credentials.

What Is The CFTC?

The Commodity Futures Trading Commission (CFTC) is a US government agency that’s responsible for regulating the derivatives markets, notably futures, options, and swaps.

These markets play a critical role in risk management and price discovery for industries ranging from agriculture to energy and finance.

They are also popular instruments with day traders in the US.

Here are the CFTC’s primary objectives:

Ultimately, the CFTC supports economic growth and financial stability while protecting public confidence in these vital markets, helping ensure traders like us have the utmost protection.
author image
Paul Holmes
Author

Who Is The CFTC Answerable To?

The Commodity Futures Trading Commission is an independent agency within the US federal government, meaning it operates autonomously in its day-to-day regulatory activities.

However, it is ultimately answerable to Congress and the President:

Key Points On Independence

While the CFTC is answerable to Congress and the President, its independent status ensures it can make decisions based on market needs and regulatory principles, free from undue political influence.

This independence is crucial for maintaining impartiality, especially in enforcing rules against powerful market participants.

The powerful bodies the CFTC is answerable to: Congress, The President, and Judicial oversight mean the CFTC is probably the tightest-run financial authority worldwide.
author image
Paul Holmes
Author

What Rules Must CFTC-Regulated Brokers Follow?

CFTC-regulated brokers, also known as Futures Commission Merchants (FCMs) or Introducing Brokers (IBs), must adhere to strict rules designed to maintain market integrity and protect traders.

These rules are rooted in the Commodity Exchange Act (CEA) and further defined by CFTC regulations.

Here’s an overview of the critical rules brokers must follow and how they ensure trader protection:

Does The CFTC Have Teeth?

Yes, the Commodity Futures Trading Commission (CFTC) has substantial regulatory “teeth,” meaning it wields strong enforcement authority to uphold the integrity of US derivatives markets.

Here’s why:

While the CFTC is powerful, it faces resource limitations and jurisdictional constraints, especially as new markets like cryptocurrency grow.

However, its collaboration with other agencies like the DOJ, SEC, and international regulators amplifies its reach.

The NFA has fined several trading brokers in recent years for various compliance failures. Notable cases include:

These fines underscore the NFA’s focus on ensuring brokers meet extremely high compliance standards, transparency, and customer protection.

Bottom Line

The CFTC has adapted to new challenges, such as the rise of cryptocurrencies and decentralized finance, balancing innovation with oversight.

It enforces strict rules to protect active traders from fraud, manipulation, and abusive practices. Its actions promote confidence in markets like futures, options, and swaps.

However, it’s not perfect. As markets evolve rapidly, the CFTC’s funding and staffing levels sometimes struggle to keep pace with growing oversight demands, particularly in emerging sectors like crypto.

Modern financial instruments can also outstrip existing regulatory frameworks, requiring constant adaptation to ensure comprehensive oversight.

But overall, while challenges remain, the agency’s commitment to protecting traders and ensuring market stability continues to enhance its importance.

To get started, see DayTrading.com’s choice of the best CFTC-regulated brokers.

 

Although regulatory oversight provides a level of protection, it’s key to understand that trading derivatives represent significant risks to your US dollars.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com