5 Best MiFID Regulated Forex Brokers. MiFID, or the Markets in Financial Instruments Directive, is a European Union law in regards to the financial services sector that provides for the synchronization of the regulation of investment services across all 30 European Economic Area member countries.
In this in-depth guide, you’ll learn:
- Top EU forex brokers licensed under MiFID II
- Trusted MiFID compliant forex brokers with investor protection
- Safe European forex trading platforms regulated by MiFID
- How to choose MiFID regulated brokers for EU traders
- List of MiFID approved forex brokers with low spreads
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
5 Best MiFID Regulated Forex Brokers
| 🏦 Broker | 📝Sign up | 🌍Regulation / MiFID Status | 💻 Trading Platforms |
| 🟥 FxPro | 👉Open Account | MiFID (CySEC, FCA) | MT4, MT5, cTrader |
| 🟦AvaTrade | 👉Open Account | (Central Bank of Ireland) | MT4, MT5, AvaTradeGO |
| 🟩 Plus500 | 👉Open Account | MiFID (CySEC) | Plus500 WebTrader |
| 🟨 Interactive Brokers (IBKR) | 👉Open Account | MiFID (Central Bank of Ireland) | IBKR Trader Workstation, Client Portal |
| 🟥IG | 👉Open Account | MiFID (FCA, BaFin) | MT4, IG Trading Platform |
What are MiFID Regulated Forex Brokers?
MiFID regulated Forex brokers are financial institutions authorized to operate under the Markets in Financial Instruments Directive (MiFID II) — a European Union framework that ensures transparency, investor protection, and fair trading practices.
These brokers must meet strict standards on capital adequacy, client fund segregation, and risk management.
5 Best MiFID Regulated Forex Brokers
- ☑️FxPro – A trusted MiFID-regulated broker.
- ☑️AvaTrade – A globally recognized MiFID-regulated broker.
- ☑️Plus500 – A MiFID-regulated broker ideal for CFD traders.
- ☑️Interactive Brokers (IBKR) – A highly reputable MiFID-regulated broker.
- ☑️IG – Offering advanced tools and global market access.
1. FxPro
FxPro is a UK-founded broker with multiple regulatory licences (including UK FCA and CySEC) and operates under the EU cross-border “passport” via MiFID II / EU regulatory regime.
It offers a broad range of instruments, segregated client funds, negative-balance protection (in the EU-regulated arm), and execution transparency, making it a solid option for traders valuing strong regulation and global reach.
Featured
| 🔹 Aspect | 💼 Details |
| 🏢 Broker Name | FxPro |
| 🌐 Region / Regulator | UK (FCA), EU via Cyprus (CySEC) |
| ⚖️ Key Regulated Entity | FxPro UK Ltd & FxPro Financial Services Ltd |
| 💰 Minimum Deposit | $100 |
| 💹 MiFID Status | Yes – EU operations under MiFID II via CySEC licence |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Strong tier-1 regulation (FCA UK) | Minimum deposit may be higher than ultra-budget brokers |
| Multi-asset offering (FX, CFDs, stocks, etc) | Some trading conditions may differ between regulated arms |
| Good client fund protection (segregation, negative-balance protection) | EU retail leverage capped by regulation (as with all EU brokers) |
Does FxPro operate under MiFID for EU clients?
Yes — via its CySEC-regulated entity, it provides investment services in the EU under the MiFID II framework.
What protection does FxPro offer for client funds?
Funds are held in segregated accounts, and EU regulated clients benefit from negative-balance protection and relevant investor-compensation schemes per the jurisdiction.
2. AvaTrade
- 💰 Min Deposit: $100
- 📈 Leverage: Up to 1:400
- 🏦 Regulators: ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA
AvaTrade is another global broker with a strong regulatory footprint in the EU (Irish entity regulated by the Central Bank of Ireland under MiFID).
The broker offers forex, CFDs, ETFs, and options across many jurisdictions; for EU clients, it adheres to the harmonised MiFID framework, which boosts its appeal for those wanting a regulated environment.
Featured
| 🔹 Aspect | 💼 Details |
| 🏢 Broker Name | AvaTrade |
| 🌐 Region / Regulator | EU (Ireland – Central Bank of Ireland) |
| ⚖️ Key Regulated Entity | AvaTrade EU Ltd (ref C53877) |
| 💰 Minimum Deposit | $100 |
| 💹 MiFID Status | Yes – clearly MiFID compliant in Europe |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Strong tier-1 regulation (FCA UK) | Minimum deposit may be higher than ultra-budget brokers |
| EU arm regulated under MiFID – strong protection for EU traders | Leverage limits and product restrictions under EU retail rules apply |
| Good reputation and longevity | Costs/fees may not always be the lowest compared to no-frills brokers |
Is AvaTrade regulated under MiFID for European clients?
Yes. The Irish entity (AvaTrade EU Ltd) is regulated by the Central Bank of Ireland and operates under MiFID rules for EU clients.
Can South African traders use AvaTrade?
Yes – AvaTrade operates in South Africa under local regulation, but those accounts might be governed under non-EU rules (not necessarily under MiFID). Always check the local entity.
3. Plus500
- 💰 Min Deposit: $100
- 📈 Leverage: Up to 1:30
- 🏦 Regulators: CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Plus500 is a publicly listed broker (London Stock Exchange) with multiple regulatory licences, including a Cypriot arm (CySEC) that provides services in Europe under MiFID II.
While it is regulated, traders should note its focus on CFD trading, platform limitations (no MT4/MT5 in some cases), and consider the exact entity/regulation relevant for their region.
Featured
| 🔹 Aspect | 💼 Details |
| 🏢 Broker Name | Plus500 |
| 🌐 Region / Regulator | EU (Cyprus – CySEC #250/14) |
| ⚖️ Key Regulated Entity | Plus500CY Ltd |
| 💰 Minimum Deposit | $100 |
| 💹 MiFID Status | Yes – MiFID investment firm in Europe |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Listed company (added transparency) | Platform lacks MT4/MT5 in many markets |
| Regulated under MiFID II for EU clients | Leverage limits and product restrictions under EU retail rules apply |
| Single account type (simple) | Might offer fewer advanced tools for professional traders |
Does Plus500 operate as a MiFID-compliant investment firm in Europe?
Yes — the UK and Cyprus entities are authorised under MiFID II for providing investment services in EEA countries.
Are there any platform limitations with Plus500?
Yes — while it includes a robust proprietary platform, it lacks MetaTrader 4/5 support in many markets and leaner advanced learning tools compared to specialist FX brokers.
4. Interactive Brokers (IBKR)
- 💰 Min Deposit: $0
- 📈 Leverage: Up to 1:400
- 🏦 Regulators: CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Interactive Brokers is a global multi-asset broker with operations in many jurisdictions.
In the EU/UK, it is regulated via its local entities and must comply with the Markets in Financial Instruments Directive II (MiFID II) for clients in Europe.
Its strengths include wide asset access, competitive fees for active traders, and a strong regulatory profile, making it a solid choice for serious or multi-market traders.
Featured
| 🔹 Aspect | 💼 Details |
| 🏢 Broker Name | Interactive Brokers |
| 🌐 Region / Regulator | UK/EU (FCA UK, etc) |
| ⚖️ Key Regulated Entity | Interactive Brokers (UK) Ltd etc |
| 💰 Minimum Deposit | $0 |
| 💹 MiFID Status | Yes – EU/UK MiFID II regulated for investment services |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Access to a huge range of markets (stocks, options, futures, FX) | Complexity may be higher for beginner traders |
| Excellent regulatory pedigree | Some account minimums or commissions may matter for small retail traders |
| Low trading fees for active traders | Some product restrictions apply to EU retail clients under MiFID (e.g., on US ETFs) |
Does Interactive Brokers comply with MiFID II for European clients?
Yes — IB’s UK/EU entities operate under MiFID II and comply with MiFIR/MiFID transaction reporting obligations.
Can EU clients trade US-listed ETFs easily with IB?
EU retail clients may face limitations due to EU rules (PRIIPs/KIDs and MiFID constraints) on certain US ETF products – classification may matter.
5. IG
- 💰 Min Deposit: $0
- 📈 Leverage: Up to 1:200
- 🏦 Regulators: FCA, BAFIN, FINMA, DFSA, MAS, ASIC, FSCA
IG is a large and well-established broker, part of IG Group (listed on the LSE), regulated across many jurisdictions, including the EU via German entity (BaFin) and CySEC.
It offers forex, CFDs, shares, and more, and is compliant with MiFID II for its EU operations.
Its strong brand, regulatory oversight, and broad market access make it appealing for traders seeking a trusted provider.
Featured
| 🔹 Aspect | 💼 Details |
| 🏢 Broker Name | IG |
| 🌐 Region / Regulator | EU (Germany – BaFin + Cyprus – CySEC) |
| ⚖️ Key Regulated Entity | IG Europe GmbH & IG Cyprus |
| 💰 Minimum Deposit | $0 |
| 💹 MiFID Status | Yes – MiFID II / EU passporting applicable |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Very strong regulatory backing and brand recognition | Some fees and spreads may be higher compared to ultra-low cost brokers |
| Wide product offering (FX, CFDs, shares, options) | Complexity and many product conditions may overwhelm beginners |
| Solid investor protection (segregated funds, compensation schemes) | Some product restrictions apply to EU retail clients under MiFID (e.g., on US ETFs) |
Is IG regulated for EU clients under MiFID II?
Yes — IG’s European entities are authorised under MiFID II and adhere to the directive’s standards (such as best-execution obligations).
How is client money protected at IG Europe?
Client funds are segregated, and for EU clients, there is compensation cover (e.g., up to €20 000 under investor compensation schemes) depending on the local entity
Conclusion
If a trader trades with any EU regulated broker, they will find that they are protected by the MiFID directive too. It’s important for traders to know their rights as traders.
It is very clear from the above-mentioned traders who intend to use MiFID forex brokers should be up-to-date with the new rules that the MiFID II/MiFIR reviewed regulations are going to bring their way.
These rules are to enhance trader protection and make the markets transparent.
You might also like:
Best FSCA Regulated Forex Brokers
Most Successful Forex Traders in South Africa
Forex Trading in South Africa – For Beginners
Best FSCA Regulated Forex Brokers
Frequently Asked Questions
What are MiFID-regulated forex brokers?
MiFID-regulated forex brokers operate under the EU’s Markets in Financial Instruments Directive, ensuring transparency, investor protection, and strict compliance with European financial standards to provide traders with a safe, fair, and secure trading environment across all supported markets.
Why should I choose a MiFID-regulated forex broker?
Choosing a MiFID-regulated broker ensures that your funds are protected under EU investor protection laws, with mandatory segregation of client accounts, transparent pricing, and regular oversight by recognized European financial authorities, enhancing trading safety and reliability.
Are MiFID-regulated brokers safe for beginners?
Yes, MiFID-regulated brokers are ideal for beginners because they must follow strict compliance, offer clear disclosures, and provide negative balance protection, ensuring new traders can start trading confidently with high levels of financial safety and transparency.
Which countries fall under MiFID regulation?
MiFID regulation applies to brokers licensed in EU and EEA member countries such as Cyprus, Ireland, Germany, France, and Spain, ensuring consistent protection and trading standards across all participating European jurisdictions for traders.
What protections does MiFID regulation offer traders?
MiFID offers protections like negative balance protection, segregated funds, investor compensation schemes, transparent order execution, and strict operational audits, all designed to safeguard traders’ funds and promote market integrity and fairness.
How can I verify if a broker is MiFID-regulated?
You can verify a broker’s MiFID regulation by checking its license number on the official website of its national regulator, such as CySEC, BaFin, or the Central Bank of Ireland, or through the ESMA register.
Do MiFID brokers offer leverage restrictions?
Yes, MiFID-regulated brokers follow ESMA guidelines, limiting retail leverage to a maximum of 1:30 on major forex pairs to reduce trading risk and protect investors from excessive losses in volatile market conditions.
Are MiFID-regulated brokers suitable for professional traders?
Yes, professional traders can benefit from MiFID-regulated brokers by opting for professional accounts, which offer higher leverage, tighter spreads, and advanced trading features while still maintaining strict operational compliance and financial transparency.
Do MiFID-regulated brokers provide negative balance protection?
Yes, under MiFID and ESMA regulations, all regulated brokers must provide negative balance protection to retail clients, ensuring traders cannot lose more money than they deposit in their trading accounts.
What trading platforms do MiFID-regulated brokers typically support?
Most MiFID-regulated brokers support industry-standard platforms like MetaTrader 4, MetaTrader 5, cTrader, and proprietary web platforms, offering robust analytical tools, fast execution, and a secure environment for all trading strategies.
