By country
Prop firm regulation by country
An honest, sourced map of the regulatory and promotion risk for prop trading firms, country by country.
CFTC / NFA
The United States is the hardest market and we treat it as effectively unpromotable. US oversight runs on registration law: the CFTC has acted against an evaluation-fee firm (the 2023 My Forex Funds case), and there is active debate over whether such firms should register as Commodity Trading Advisors. Since MetaQuotes withdrew MT4/MT5 access from most prop firms in 2024, the majority restrict US clients. We mark this market geo-blocked: no firm is listed for it, and this page exists for information only.
Prop firms in United States →FCA
The United Kingdom is a grey market. The funded-account product is not separately licensed, but the underlying CFD exposure is squarely in scope of the FCA's product-intervention rules (a 30:1 retail leverage cap and CFD marketing restrictions), and the financial-promotion regime makes unauthorised solicitation of UK retail clients a real exposure. UK financial-promotion rules are strict, so we treat promotion risk as high. No firm is listed for this market today.
Prop firms in United Kingdom →ASIC
Australia is a grey market. ASIC's CFD product-intervention order (in force since 2021) caps retail leverage and its design-and-distribution obligations apply to the underlying CFD exposure. The funded-account product itself is not separately licensed, but soliciting Australian retail clients carries real regulatory risk. We treat promotion risk as high and list no firm for this market today.
Prop firms in Australia →ESMA
The European Union is a grey market. ESMA's CFD measures (a 30:1 retail leverage cap and marketing limits), implemented and reinforced by national regulators such as BaFin (Germany) and Consob (Italy), apply to the underlying CFD exposure, and several national regulators have issued warnings. The funded-account product is not separately licensed. We treat promotion risk as high and list no firm for this market today.
Prop firms in European Union →CSA
Canada is a restricted market. Oversight sits with provincial securities regulators under the Canadian Securities Administrators umbrella, and many firms exclude Canadian residents outright. We treat promotion risk as high and list no firm for this market today; check each firm's own terms for whether it accepts Canadian clients at all.
Prop firms in Canada →SCA / DFSA
The United Arab Emirates has a lighter-touch regime and several major prop firms are headquartered here. Even so, cross-border promotion to retail clients still carries risk, and the funded-account product is not a licensed financial product. We treat promotion risk as grey rather than low and list no firm for this market today.
Prop firms in United Arab Emirates →