Forex trading by country

BaFin

Retail forex and CFD trading is legal and clearly regulated in Germany through BaFin-authorised firms and EU-passported brokers under MiFID II. ESMA rules apply: a 30:1 leverage cap on major currency pairs, mandatory negative-balance protection, and a ban on bonuses or trading incentives to retail clients. Advertising is permitted but must be fair and not misleading. Always confirm the specific entity serving you on the BaFin register before depositing.

AMF

Trading retail forex and CFDs is legal in France through AMF-authorised firms and EU-passported brokers, under ESMA's 30:1 leverage cap, negative-balance protection and bonus ban. However, France's Loi Sapin II prohibits electronic advertising of high-risk speculative products including CFDs to retail clients — so this page is information-only. We do not run partner links or 'open an account' calls-to-action for France; we publish regulatory and cost literacy so French residents can make their own informed checks on the AMF register.

CONSOB

Retail forex and CFD trading is legal and regulated in Italy through CONSOB-authorised firms and EU-passported brokers under MiFID II. ESMA retail rules apply: a 30:1 leverage cap on majors, negative-balance protection, and a ban on incentives and bonuses to retail clients. CONSOB actively orders the blocking of unauthorised offshore sites, so confirm the entity serving you is on the CONSOB or home-EU register before depositing.

CNMV

Trading retail forex and CFDs is legal in Spain through CNMV-authorised firms and EU-passported brokers, under ESMA's 30:1 leverage cap, negative-balance protection and bonus ban. However, since 2023 the CNMV restricts the mass-marketing of CFDs to retail clients and bans influencer and sponsorship promotion of these products — so this page is information-only. We carry no partner links or 'open an account' calls-to-action for Spain; we publish regulatory and cost literacy so Spanish residents can verify any firm on the CNMV register themselves.

KNF

Retail forex and CFD trading is legal and regulated in Poland through KNF-authorised firms and EU-passported brokers under MiFID II. ESMA's baseline retail protections apply — negative-balance protection and the incentive ban — and the default leverage cap on majors is 30:1. Poland additionally allows up to 100:1 leverage for clients who qualify as 'experienced' under KNF criteria, which is a higher-risk option, not a default. Verify the entity serving you on the KNF register before depositing.

AFM

Retail forex and CFD trading is legal and regulated in the Netherlands through AFM-authorised firms and EU-passported brokers under MiFID II. ESMA retail rules apply: a 30:1 leverage cap on majors, negative-balance protection, and a ban on bonuses and trading incentives. The AFM is an active supervisor of retail-product marketing, so confirm the specific entity serving you on the AFM register before depositing.

FCA

Retail forex and CFD trading is legal and regulated in the UK by the Financial Conduct Authority (FCA). Post-Brexit the UK runs its own regime: the FCA mirrors the ESMA-style 30:1 leverage cap on majors and negative-balance protection, and adds the s.21 financial-promotions regime and the Consumer Duty, which hold firms to a high standard for fair, clear and not-misleading communications. Our coverage is editorial and non-advisory. Confirm any firm on the FCA Register before depositing.