SEC Regulated Brokers: The Full List of 62

Sixty-two brokers in the WIKILIX database hold a licence recorded against a Securities and Exchange Commission and carry our regulation status label. The grid below lists all of them by WIKILIX score, from T. Rowe Price at 87.9 down to H.H. Misbah Securities at 35, with a median of 49.2. Twelve are headquartered in the United States. The other fifty are not.

That second figure is why this page carries an explanation instead of a preamble. Securities and Exchange Commission is not one institution. It is the name the national securities regulator uses in the United States, the Philippines, Thailand, Pakistan, Bangladesh, Nigeria and Ghana, among other countries, and WIKILIX stores licences from those bodies under one short name. A broker on this page therefore has an SEC entry in its file. Which commission granted that entry is recorded on the broker's own page rather than in the filter that built this list, and the register of that country is where it should be confirmed.

Where these 62 firms are headquartered

Twenty countries of domicile in total. The US contingent includes Robinhood, Firstrade and E*TRADE Futures. Eighteen of the 62 are registered in India, among them Zerodha, opened in 2010, and Groww, opened in 2016, and both carry the SEC entry as the only licence record we hold for them. Six are UK companies, ED&F Man Capital Markets and BGC Brokers among them.

Thirty of them hold this record and nothing else

Thirty-two of the 62 carry records from two or more authorities. Thirty-one of those hold at least one further tier-1 licence next to the SEC entry, with FCA, FINRA, SFC, ASIC and MAS the names that recur. Pictet and J.P. Morgan carry seven regulator records each; StoneX carries three. Nineteen of the 62 also hold an FCA record. The remaining thirty show the SEC entry alone, and for those the question of which commission issued it is the entire question.

What a securities registration covers, and what it leaves out

A securities commission authorises a firm to deal in securities: shares and bonds, and in some markets the derivatives written on them. It is not automatically permission to offer retail margin foreign exchange. In the United States that business is supervised by the National Futures Association and the Commodity Futures Trading Commission instead, which is why thirteen firms here carry an NFA or FINRA record alongside the SEC one and the other forty nine do not. Registration also says nothing about price. WIKILIX holds no spread, commission or execution figures for these companies, so nothing on this page is ordered by trading cost and no position in the grid should be read as one.

Checks worth making on this particular list

• Establish which commission the SEC entry refers to before treating it as a United States registration. The broker's page names the entity, and the register of that country settles it. The US filings are public at sec.gov.
• For a US firm, SEC registration and FINRA membership are separate records, and only thirteen of these 62 carry the second one.
• Check which legal entity would hold your account. Pictet is filed here under a Swiss domicile with seven regulator records, and one of those entities opens the account, not all seven.
• Thirty of these firms show a single regulator record. Read that register yourself rather than reading the count.
• Recorded opening dates run from 1799 to 2024, and twenty firms opened before 1990, so read the age off the card instead of inferring it from the name.