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National Futures Association (NFA) Brokers 2024

Written By

Christian Harris

Edited By

James Barra

Fact Checked By

Michael MacKenzie

Updated

Oct 21, 2024

If you’re day trading in the US, consider a broker regulated by the National Futures Association (NFA), a ‘green tier’ body in DayTrading.com’s Regulation & Trust Rating that provides excellent investor safeguards.

Established in 1981, the NFA plays a pivotal role in maintaining market integrity, enforcing strict regulatory standards, ensuring investor protection, resolving disputes, and promoting financial education.

Brokers regulated by the NFA are held to these high standards, offering traders enhanced transparency. If their actions threaten customers or the integrity of the markets, the NFA promptly takes appropriate action.

Immerse yourself in our choice of the top NFA-regulated brokers operating within the US. We’ve thoroughly confirmed that each recommended platform is officially registered with the NFA.

Best NFA Brokers

As of our latest tests in October 2024, these 5 NFA-regulated day trading platforms are the best picks:

Click a broker for details

1

FOREX.com

Go To FOREX.com
FOREX.com Review

New Customer Bonus Offer Active Trader Program With A 15% Reduction In Costs

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.3 / 5

Fees & Costs 4.6 / 5

Platforms & Tools 4.6 / 5

Customer Support 4.3 / 5

Research 4.8 / 5

Education 4.5 / 5

iOS App 3.6 / 5

Android App 3.8 / 5

Minimum Deposit $100

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Futures, Futures Options

Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

Payment Methods Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Go To FOREX.com
2

NinjaTrader

Go To NinjaTrader
NinjaTrader Review

Ratings

Regulation & Trust 4.3 / 5

Accounts & Banking 2.8 / 5

Assets & Markets 2.9 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 4.5 / 5

Customer Support 4 / 5

Research 4 / 5

Education 4 / 5

iOS App 3 / 5

Android App 3.2 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Options, Commodities, Futures, Crypto

Platforms NinjaTrader Desktop, Web & Mobile, eSignal

Payment Methods ACH Transfer, Debit Card, Wire Transfer, Cheque

Account Currencies USD

Go To NinjaTrader
3

IG

Go To IG
IG Review

Forex trading involves risk. Losses can exceed deposits.

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.5 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 4.8 / 5

Customer Support 4.5 / 5

Research 4.9 / 5

Education 5 / 5

iOS App 4.6 / 5

Android App 4 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:30 (Retail), 1:250 (Pro)

Regulator FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM

Instruments CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting

Platforms Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral

Payment Methods PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card

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

Go To IG
4

OANDA US

Go To OANDA US
OANDA US Review

CFDs are not available to residents in the United States.

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 2.8 / 5

Fees & Costs 4 / 5

Platforms & Tools 4.5 / 5

Customer Support 3.5 / 5

Research 4.3 / 5

Education 3.8 / 5

iOS App 4.7 / 5

Android App 3.7 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)

Platforms OANDA Trade, MT4, TradingView, AutoChartist

Payment Methods Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Go To OANDA US
5

Plus500 US

Go To Plus500 US
Plus500 US Review

New Customer Bonus Offer Welcome Deposit Bonus up to $200

Trading with leverage involves risk.

Ratings

Regulation & Trust 3.5 / 5

Accounts & Banking 3.7 / 5

Assets & Markets 3.5 / 5

Fees & Costs 3.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3.5 / 5

Research 2.8 / 5

Education 3.5 / 5

iOS App 4.1 / 5

Android App 4.3 / 5

Minimum Deposit $100

Minimum Trade 0.0 Lots

Leverage

Regulator CFTC, NFA

Instruments Futures on Forex, Commodities, Cryptos, Indices, Interest Rates

Platforms WebTrader, App

Payment Methods ACH Transfer, Wire Transfer, Debit Card, Mastercard, Visa

Account Currencies USD

Go To Plus500 US

Here is a short overview of each broker's pros and cons

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.
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.
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.
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.
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.

NFA Brokers Comparison

NFA Brokers Comparison
Minimum Deposit	Markets	Platforms	Leverage
$100	Forex, Stocks, Futures, Futures Options	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:50
$0	Forex, Stocks, Options, Commodities, Futures, Crypto	NinjaTrader Desktop, Web & Mobile, eSignal	1:50
$0	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral	1:30 (Retail), 1:250 (Pro)
$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
$100	Futures on Forex, Commodities, Cryptos, Indices, Interest Rates	WebTrader, App	-

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 Offer	Active Trader Program With A 15% Reduction In Costs
Demo Account	Yes
Instruments	Forex, Stocks, Futures, Futures Options
Regulator	NFA, CFTC
Platforms	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
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.
Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.

Visit FOREX.com

FOREX.com Review

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 Account	Yes
Instruments	Forex, Stocks, Options, Commodities, Futures, Crypto
Regulator	NFA, CFTC
Platforms	NinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD

Pros

NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
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

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

Visit NinjaTrader

NinjaTrader Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer

IG Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Regulator	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Platforms	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:250 (Pro)
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
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
The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met

Cons

IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges

Visit IG

IG Review

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 Account	Yes
Instruments	Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
Regulator	NFA, CFTC
Platforms	OANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

Beginners can get started easily with $0 minimum initial deposit
OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
There's a strong selection of 68 currency pairs for dedicated short-term forex traders

Cons

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

Visit OANDA US

OANDA US Review

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 Offer	Welcome Deposit Bonus up to $200
Demo Account	Yes
Instruments	Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
Regulator	CFTC, NFA
Platforms	WebTrader, App
Minimum Deposit	$100
Minimum Trade	0.0 Lots
Account Currencies	USD

Pros

The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
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

Cons

The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
Although support response times were fast during tests, there is no telephone assistance
Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders

Visit Plus500 US

Plus500 US Review

Methodology

To discover the top brokers authorized by the NFA, we:

Reviewed our list of 267 brokers to identify those asserting NFA authorization.
Checked their details against the NFA’s online registry to confirm their authorization.
Integrated the findings of our hands-on tests and 200+ data points to develop a ranking of the best NFA-authorized brokers.

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

Verifying that the NFA regulates a brokerage is a simple process we employ to assess the legitimacy of trading platforms operating in the US.

You can easily confirm this by following these three steps:

Access the NFA’s ‘Background Affiliation Status Information Center (BASIC)‘ search on its website.
Input the provider’s name into the search field.
If needed, refine the search by ‘NFA ID’, ‘Individual’ or ‘Pool.’

To illustrate, I verified that FOREX.com, a popular US brokerage, is authorized by the NFA, as seen in the following screenshots.

Christian Harris

Author

What Rules Must NFA-Regulated Brokers Follow?

NFA-regulated brokers must adhere to strict rules to ensure transparency, fair practices, and the protection of clients in the financial markets.

Here are some of the main rules that brokers regulated by the NFA must follow:

Risk Disclosure: Providers must clearly warn customers about the risks involved in trading, which are high, especially if you employ fast-paced strategies like day trading.
Fair Conduct: Brokers must act ethically, avoiding false claims about profits or downplaying risks. Advertising must be truthful and not misleading.
Capital Requirements: Forex Dealer Members (FDMs) must always have $20 million in adjusted net capital to ensure financial stability and protect client funds.
Client Fund Segregation: Brokers must keep customer funds separate from company assets to safeguard them from misuse or loss.
Anti-Fraud Measures: Providers are prohibited from engaging in fraudulent practices, including misleading promotions or unfair trade executions.
Record-Keeping & Reporting: Firms must maintain detailed records of transactions and report regularly to regulators to ensure compliance and transparency.
Know Your Customer (KYC) & Anti-Money Laundering (AML): Brokers must verify customer identities and monitor for suspicious activity, reporting potential money laundering.
Supervision & Risk Management: Trading platforms must implement robust employee oversight systems and risk management policies to minimize market and operational risks.
Leverage Limits: Restrictions on leverage to 1:50 (or a 2% margin) ensure that retail investors do not take on excessive risk that could lead to significant losses.
Dispute Resolution: Brokers must participate in structured processes like arbitration or mediation to resolve client disputes fairly.

Online brokerages that do not adhere to these regulations may face enforcement action from the NFA, which could result in fines, penalties, or the loss of their license.

For example, StoneX was fined $100,000 for several violations, including improper handling of initial margin calculations and failing to maintain adequate risk management systems.

In a separate case, the NFA imposed penalties on Trinity Trading Group due to violations involving improper record-keeping and promotional practices that misrepresented profit potential without highlighting risks. The firm and its principal were barred from reapplying for NFA membership as part of the settlement.

💡

The NFA is a self-regulatory body that focuses on futures, commodities and forex, ensuring brokers providing these services adhere to the latest rules.

Bottom Line

Choosing a firm authorized by the NFA is a no-brainer if you’re an active trader in the US.

The NFA’s role is to ensure that market participants – brokers and traders – operate within a fair, transparent, and regulated environment.

You can verify if the NFA regulates a broker in just a few minutes on the NFA’s website. Or, explore our list of the best day trading platforms regulated by the NFA.

While regulation provides a degree of protection, it’s essential to understand that online trading involves risks and a chance of losing all your invested 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