Some of the most reliable free forex education is published by regulators and public bodies — the organisations that license brokers and deal with the complaints when things go wrong. This page collects the most useful official resources by country, plus the leverage limits those regulators set for retail traders. ForexBasics is independent and not affiliated with any of them.
United States
- CFTC — Learn and Protect: the Commodity Futures Trading Commission's consumer education hub, including a dedicated page on forex frauds.
- NFA BASIC: the National Futures Association's database for checking whether a firm or person is registered, with any disciplinary history. NFA also publishes investor resources.
- Investor.gov — Forex trading: the SEC's plain-language glossary entry and investor alerts.
- 17 CFR 5.9: the rule that sets minimum security deposits for retail forex — 2% for major currencies (50:1) and 5% for others (20:1).
United Kingdom
- FCA Financial Services Register: look up any firm by name or reference number and check exactly which activities it is permitted to carry out.
- FCA — protect yourself from scams, including clone firms that copy the details of real authorised brokers.
- FSCS — investments: what the compensation scheme does and does not cover if an authorised firm fails. It does not cover trading losses.
European Union
- ESMA investor corner: warnings and guides from the European Securities and Markets Authority.
- ESMA's 2018 CFD measures: the source of the 30:1 leverage cap, the 50% margin close-out rule, negative balance protection and the standard risk warning. ESMA reported that 74–89% of retail CFD accounts lost money.
- CySEC register of Cypriot investment firms: many EU retail brokers are licensed in Cyprus.
Australia and New Zealand
- ASIC: the Australian regulator; its professional register lists licensed firms. ASIC's CFD product intervention order (2021) limits retail leverage to 30:1 on major currency pairs.
- Moneysmart: ASIC's consumer site, with guides to CFDs and high-risk investments.
- FMA (New Zealand): the Financial Markets Authority, including warnings about unlicensed firms.
Market data from official sources
- BIS Triennial Survey 2025: the Bank for International Settlements measured global FX turnover at $9.6 trillion per day in April 2025.
Retail leverage limits at a glance
| Jurisdiction | Major pairs | Other currency pairs | Other protections |
|---|---|---|---|
| EU (ESMA measures) | 30:1 | 20:1 | 50% margin close-out, negative balance protection, standard loss warning |
| UK (FCA) | 30:1 | 20:1 | Similar package to the EU |
| Australia (ASIC) | 30:1 | 20:1 minor pairs | Margin close-out and negative balance protection |
| United States (CFTC/NFA) | 50:1 | 20:1 | Retail forex only with registered firms |
Rules change; check the regulator's own site for the current position. If a broker offers you far higher leverage, it is almost certainly not operating under these rules for your account — see how to choose a broker.
How to verify a broker in five minutes
- Find the broker's legal entity name and licence number in its website footer or legal documents.
- Search that number on the regulator's own register (links above) — not via a link on the broker's site.
- Check that the website address and contact details on the register match the site you are using (clone firms copy real details).
- Confirm the entity that will hold your account is the regulated one.
- Search the regulator's warning list for the brand name.
Last reviewed: October 4, 2026