🇫🇷 Broker coverage in France

Regulatory overview

France financial markets regulator is the AMF (Autorite des Marches Financiers). Forex and CFD trading is legal for French retail clients within the EU MiFID II framework and the ESMA product-intervention measures: leverage capped 30:1 to 2:1 by volatility, 50% margin close-out, negative-balance protection. [S1] France additionally restricts marketing: under the Sapin II law and the French Monetary and Financial Code, electronic advertising of forex contracts and of CFDs with leverage greater than five is prohibited; CFDs with a built-in mechanism that structurally prevents a client losing more than the amount invested may still be advertised. [S3] Eligible claims against a failed investment firm are covered to the EU minimum of EUR 20,000 (national scheme may differ). [S2] Per-broker AMF/ACPR authorisation must be confirmed individually. [S4]

Considerations

Confirm the entity is the AMF/ACPR-authorised or EU-passported entity, not an offshore affiliate. [S4] Aggressive forex/high-leverage CFD advertising to French residents is restricted by law - its presence is itself a red flag. [S3] Retail leverage is capped (30:1-2:1). [S1] Investor-compensation cover is limited and excludes trading losses. [S2]

Frequently asked questions

Is forex/CFD trading legal in France?

Yes, for retail clients, under the ESMA framework; but electronic advertising of forex and high-leverage CFDs is banned under Sapin II. [S1][S3]

How much investor protection applies?

At least the EU minimum of EUR 20,000 per investor for covered claims; this does not cover trading losses. [S2]

Sources

1. [S1] ESMA - final product-intervention measures on CFDs — https://www.esma.europa.eu/press-news/esma-news/esma-adopts-final-product-intervention-measures-cfds-and-binary-options
2. [S2] EU Investor Compensation Schemes Directive 97/9/EC - EUR 20,000 minimum — https://eur-lex.europa.eu/eli/dir/1997/9/oj
3. [S3] AMF - ban on advertising of forex products, binary options and some CFDs (Sapin II) — https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/ban-advertising-forex-products-binary-options-and-some-cfds-amf-launches-consultation-changes-its
4. [S4] REGAFI - French register of authorised financial firms (per-broker check) — https://www.regafi.fr/spip.php?page=results&lang=en