FINRA
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FINRA supervises US broker-dealers and runs BrokerCheck, the public record of every registered firm and adviser. The brokers below are FINRA members.
Brokers regulated by FINRA
Interactive BrokersRead review- US broker with over 40 years in the industry, founded in 1978
- Regulated by multiple top-tier authorities, including the CFTC, FCA, and ASIC
The Financial Industry Regulatory Authority is the self-regulatory organisation for securities broker-dealers in the United States, operating under SEC oversight. Every firm registered with the SEC as a broker-dealer must be a FINRA member, and individuals who deal with clients must pass qualification examinations and register as representatives.
What FINRA covers
Securities: equities, options, bonds, funds. It does not regulate spot foreign exchange, which sits with the CFTC and the NFA. A multi-asset broker serving US clients typically holds both sets of registrations, and the two sides of the account carry different protections — SIPC cover on the securities side, none on the forex side.
What membership requires
FINRA sets conduct rules covering suitability, communications with the public, best execution and supervision, and examines member firms for compliance. It runs the qualification examination system, operates the arbitration forum where most US client disputes are resolved, and enforces through fines, suspensions and bars.
Its advertising rules matter to a retail reader. Communications must be fair and balanced, performance claims substantiated, and risks disclosed alongside benefits — with certain material filed for review. A US broker's marketing looks more restrained than an offshore one's because it legally has to be.
BrokerCheck
FINRA publishes BrokerCheck, a free public database covering every registered firm and individual: registration history, qualifications held, employment history, customer complaints, arbitration awards and regulatory actions. Checking the individuals behind a firm — not just the firm — is where this tool earns its value, because principals move between failed firms in a way company registers do not surface.
If a firm fails
SIPC covers securities and cash held for securities transactions up to $500,000 per customer, of which $250,000 may be cash. It does not cover market losses, and it does not cover spot forex positions.
Reading a FINRA claim
FINRA membership tells you a firm is a registered securities broker-dealer. It says nothing about its authority to offer margin currency trading, which requires CFTC registration and NFA membership — verifiable separately in the NFA's BASIC database.