Key takeaways
- Check authorisation on the regulator's register, and which company in the group you would contract with.
- Understand how orders are executed and how client money is protected.
- Compare total costs per market, not headline spreads.
FluxoMarkets doesn't recommend providers. Here is how to choose a broker across markets.
- Authorisation. Find the firm on your regulator's register by typing its address yourself.
- Entity. Multi-asset groups often run entities in several countries. Confirm the one named on your agreement is authorised where you live.
- Clone check. Contact details must match the register.
- Client money. Segregation of client funds; compensation scheme coverage and limits.
- Execution. Read the order execution policy: agency, market maker or hybrid.
- Product rules. Negative balance protection and leverage within local limits (e.g. UK/EU: 30:1 FX majors, 5:1 shares, 2:1 crypto).
- Costs by market. FX spreads and swaps, share commissions and conversion fees, crypto trading and withdrawal fees. See trading fees explained.
- Crypto specifics. If crypto is offered, is it real coins you can withdraw or only CFDs? Different protections apply.
- Withdrawals. Test with a small amount.
- Source. Cold calls, social media "mentors" and guaranteed returns are red flags. See scams.
Online forex broker or multi-asset platform?
An online forex broker may also offer shares and crypto, often through different legal entities. Check that the entity handling each product is authorised for it where you live.
Common questions
Is one broker for all markets better than several?
It is simpler, but check that each product line is covered by the right authorisation and that costs are competitive in each market you use.
What is negative balance protection?
A rule for UK and EU retail CFD clients that prevents losses exceeding the funds in the account.
Sources
- UK FCA register
- ESMA product intervention measures