Glossary
A
Account fee
An account fee is the yearly cost of holding, custody or running a platform, and it weighs most on smaller balances.
Account sizes
The trading account balance a firm offers, which sets how much a single trade is worth in a challenge.
Account types
Account types set out who can hold the money and whether it sits in a joint, corporate or retirement wrapper.
AMF
The AMF is the French markets regulator, and it appears in the regulator field of brokers holding a French registration.
ASIC
Australia's securities regulator, named in the regulatory details of several providers alongside their own home regulators.
Audience
Audience shows who a broker is built for, from beginners and day traders to experienced investors.
B
BaFin
The German financial supervisor named in the regulator details of 1822direkt, arttrade, BERGFÜRST and Bitpanda.
Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin)
BaFin is Germany's financial regulator, and one broker in this group holds its German licence.
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
BaFin is Germany's financial regulator, the body that licenses banks and investment firms operating in the country.
Buyback guarantee
A promise that a provider refunds part of the fee you paid if you fail, which none of these five brands offer.
C
CFTC
The CFTC is the US futures regulator, and it turns up in the regulator field of firms that trade currency futures or their regulated …
Challenge price
The fee you pay to enter a prop firm evaluation, and it is the first real cost a beginner meets.
CNMV
The CNMV is Spain's financial regulator, and brokers that hold its licence are supervised for their Spanish business.
Currency conversion fee
The cut a broker takes when it converts your money between currencies, charged on top of the market rate.
Cyprus Securities and Exchange Commission (CySEC)
The Cyprus regulator whose licence references appear on the regulatory pages of several European providers.
CySEC
The Cyprus regulator that authorises and supervises investment firms serving customers in the European Union.
D
E
F
FCA
The UK financial watchdog that authorises and supervises firms operating in Britain.
FDIC
The FDIC is the US deposit insurer, and it appears in the regulator field of banks where your cash is backed by a deposit …
Features
The account tools and extras a broker adds on top of standard dealing tell you how the account actually feels to use.
FINRA
The US self-regulatory body for brokers, named in the regulator details of Ally Bank, Betterment and Cash App Cash Card.
Founded
The founding year gives a quick read on how long a broker has been trading and how much history sits behind it.
FSA
An acronym used for the Seychelles financial regulator, which appears in the regulatory lists of several providers.
FSC
The regulator named in the details of several providers, and the body behind the Mauritius licence reference given for Amillex.
FSCA
The FSCA is South Africa's financial services regulator, and the brokers here name it either on its own or beside other supervisors.
FSCS
The UK scheme that compensates eligible customers of a failed authorised firm, up to a set cap per person.
H
I
Inactivity fee
A charge a broker can make when you stop logging in or trading, which quietly eats into balances left untouched.
Interest on cash
The rate a platform pays on uninvested cash held in an account, set against what a savings account would give.
Investor protection
The compensation scheme behind an account decides how much of your money comes back if the firm fails.
L
M
Management fee
The management fee is the yearly charge for holding an account, usually taken as a share of what you invest.
Margin rate
The interest a broker charges on borrowed funds, and it can be the cost that dwarfs your trading fees.
Markets
The asset classes a broker lists decide how much of your money each option can reach.
Maximum drawdown
The largest fall from an account's peak value that a prop firm allows before the account breaks its rules.
Maximum retail leverage
The most a retail account can borrow from the broker to size up a position, written as a multiple of your own deposit.
Minimum deposit
The smallest opening payment sets how heavy your first commitment is before you can trade.
Minimum investment
The minimum investment is the smallest amount a broker accepts, which sets whether you can start in small steps.
N
O
P
Payout frequency
How often you can withdraw profits from a funded account, which ranges from on demand to a fixed schedule.
Platforms
The apps and terminals you order through decide how closely the tool matches the way you trade.
Portfolio types
Portfolio types show what an account actually holds, from plain cash and ETFs to ESG and crypto holdings.
Pricing model
A broker's pricing model tells you whether dealing costs nothing per order or carries a small charge on each one.
Profit split
The share of your trading profits the firm keeps while the rest is yours, and it differs across the firms here.
R
S
SEC
The US regulator that oversees investment advisers and broker-dealers, and a name you can check in a provider's regulatory list.
Secondary market
A place where existing investments in a fund or note are sold on to another buyer, which some of these brands allow and others …
SIPC
SIPC is the US protection scheme that covers investors when a broker fails and cannot return cash or securities.
Stock trade fee
The stock trade fee is what a broker charges each time you buy or sell a share or an exchange-traded fund.
Support channels
The routes a broker gives you to reach a human or a help page when an order or a charge needs checking.