The ten brokers below all offer gold (XAU/USD) trading and each operates under at least two regulators. Multi-regulation shows a broker has met licensing requirements in several jurisdictions, but the protection you receive depends on which of its entities holds your account, not on the total number of licences.
That distinction is the most important thing to understand before comparing brokers. A brand might hold a licence from a strict regulator in one country while serving most international clients through a different company overseen by another authority. This guide sets out who regulates each broker and explains how to check which entity would apply to you.
What “multi-regulated” really means
Online brokers that serve clients in many countries usually set up a group of companies, each licensed locally. For example, a broker might have:
-
an entity licensed in Australia, serving Australian clients;
-
an entity licensed in Cyprus, serving clients in the European Union;
-
an entity licensed in Mauritius, the Seychelles or Vanuatu, serving clients in other regions.
Each regulator sets its own rules on matters such as maximum leverage, client money handling, negative balance protection and compensation schemes. For example, eligible clients of Cyprus-regulated firms may be covered by the Investor Compensation Fund, while other jurisdictions have different arrangements or none at all. That is why two clients of the same brand can have very different levels of protection.
How we compiled this list
Each broker included:
-
holds licences from at least two financial regulators, named on its website;
-
offers gold (XAU/USD) as a CFD;
-
supports established trading platforms such as MetaTrader 4 or MetaTrader 5.
Regulatory details and platforms were taken from each broker’s website and public sources in October 2026. The brokers are listed in no particular order. VT Markets, the sponsor of this article, appears first. This list does not rank brokers or recommend any of them.
Quick comparison
|
Broker |
Regulators named |
Platforms |
|
VT Markets |
FSC (Mauritius), FSCA (South Africa), CMA (UAE) |
MT4, MT5, WebTrader, app |
|
BlackBull Markets |
FMA (New Zealand), FSA (Seychelles) |
MT4, MT5, cTrader, TradingView |
|
Fusion Markets |
ASIC (Australia), VFSC (Vanuatu), FSA (Seychelles) |
MT4, MT5, cTrader, TradingView |
|
Eightcap |
ASIC, FCA (UK), CySEC (Cyprus), SCB (Bahamas) |
MT5, TradingView (MT4 varies by entity) |
|
STARTRADER |
ASIC, FSCA, FSA (Seychelles), FSC (Mauritius) |
MT4, MT5, app |
|
Ultima Markets |
CySEC, FSC (Mauritius) |
MT4, WebTrader, app |
|
ACY Securities |
ASIC, FSCA |
MT4, MT5, LogixTrader |
|
GO Markets |
ASIC, CySEC, FSA (Seychelles), FSC (Mauritius) |
MT4, MT5, cTrader, TradingView |
|
TMGM |
ASIC, VFSC, FSA (Seychelles), FSC (Mauritius) |
MT4, MT5, app |
|
Global Prime |
ASIC, VFSC |
MT4, MT5 |
1. VT Markets
VT Markets offers gold and other CFDs on MetaTrader 4, MetaTrader 5, WebTrader and its own mobile app.
Regulators and entities:
-
VT Markets Limited is licensed by the Financial Services Commission (FSC) of Mauritius as a Full-Service Investment Dealer (excluding underwriting), licence GB23202269.
-
VT Markets (Pty) Ltd is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa as an intermediary only, FSP 50865.
-
VT Markets (Pty) Ltd, Dubai Branch, is licensed by the Capital Markets Authority (CMA) in the UAE for introduction and promotion only, licence 20200000299.
What it means for clients: each licence has a defined scope. The South African and UAE licences cover intermediary and promotional activity, so clients should check which entity their account agreement names. VT Markets publishes this entity information in its website footer.
Worth knowing: VT Markets offers XAUUSD247, a gold product that can also be traded at weekends. Finance Magnates reported a minimum spread of 15 points on weekdays and 40 at weekends. Withdrawals are protected by two-factor authentication and are returned to the source of funds in the client’s own name.
2. BlackBull Markets
Regulators and entities: a New Zealand entity regulated by the Financial Markets Authority (FMA), and an international entity licensed by the Financial Services Authority (FSA) of Seychelles.
What it means for clients: the FMA licence covers New Zealand residents. Most international clients are served through the Seychelles entity, where the rules and protections differ.
Platforms: MT4, MT5, cTrader and TradingView.
3. Fusion Markets
Regulators and entities: an Australian entity licensed by the Australian Securities and Investments Commission (ASIC), plus entities regulated by the Vanuatu Financial Services Commission (VFSC) and the FSA of Seychelles.
What it means for clients: ASIC rules apply to Australian clients. Clients elsewhere are usually served by the offshore entities, which operate under different requirements, for example on leverage limits.
Platforms: MT4, MT5, cTrader and TradingView.
4. Eightcap
Regulators and entities: licences from ASIC, the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).
What it means for clients: Eightcap’s group includes entities under some of the most widely recognised regulators, but clients outside Australia, the UK and Europe may be served by the Bahamas entity, where terms and protections differ.
Platforms: MT5 and TradingView, with MT4 availability depending on the entity.
5. STARTRADER
Regulators and entities: entities regulated by ASIC, the FSCA in South Africa, the FSA of Seychelles and the FSC of Mauritius.
What it means for clients: with four regulators, which entity you join matters a great deal. Confirm the company name and licence number in your account documents.
Platforms: MT4, MT5 and a mobile app.
6. Ultima Markets
Regulators and entities: an international entity regulated by the FSC of Mauritius, and a separate entity regulated by CySEC for clients in the European Union.
What it means for clients: EU clients fall under CySEC’s rules, which include EU leverage limits for retail clients. Clients in other regions are generally served by the Mauritius entity.
Platforms: MT4, WebTrader and the Ultima Markets app.
7. ACY Securities
Regulators and entities: an Australian entity licensed by ASIC and a South African entity authorised by the FSCA.
What it means for clients: the group has also operated through other offshore companies, so clients should confirm that their account is held with one of the licensed entities.
Platforms: MT4, MT5 and LogixTrader, ACY’s proprietary web platform.
8. GO Markets
Regulators and entities: entities regulated by ASIC, CySEC, the FSA of Seychelles and the FSC of Mauritius.
What it means for clients: like several brokers on this list, GO Markets combines Australian and EU licences with offshore entities, so protections depend on where you are based.
Platforms: MT4, MT5, cTrader and TradingView.
9. TMGM
Regulators and entities: regulated by ASIC, the VFSC, the FSA of Seychelles and the FSC of Mauritius.
What it means for clients: account terms, including leverage, vary considerably between TMGM’s entities. Read the terms for the entity that applies to you.
Platforms: MT4, MT5 and the TMGM app.
10. Global Prime
Regulators and entities: an Australian entity licensed by ASIC and an international entity regulated by the VFSC in Vanuatu.
What it means for clients: international clients are typically served through the Vanuatu entity, which operates under different rules from the Australian one.
Platforms: MT4 and MT5.
How to verify a broker’s licence in five steps
Never rely on a logo or a claim on a website alone. Checking takes a few minutes:
-
Find the legal entity name. Look in the broker’s website footer or legal documents for the full company name and licence number.
-
Go to the regulator’s own website. Type the regulator’s address yourself rather than following a link from the broker or an advert.
-
Search the public register. Most regulators publish a searchable register of licensed firms. Check that the company name, licence number and permitted activities match.
-
Check the website address. Regulators often list a firm’s approved domains. A mismatch can be a sign of a clone firm using a genuine company’s details.
-
Read your account agreement. Before depositing, confirm which entity your agreement is with. That is the company whose regulator applies to you.
Protections that differ between regulators
When comparing entities, these are the areas most likely to vary:
-
Leverage limits: some regulators cap retail leverage tightly, while others allow much higher levels. Higher leverage increases the speed at which losses can build.
-
Negative balance protection: some jurisdictions require brokers to ensure retail clients cannot lose more than their deposit. Others do not.
-
Client money handling: rules on how client funds are held and reported vary between regulators.
-
Compensation schemes: some regulators operate or require compensation funds if a firm fails. Many do not.
-
Complaints and dispute resolution: access to an independent ombudsman or dispute service differs by jurisdiction.
Warning signs to watch for
-
Clone firms: fraudsters sometimes copy a genuine broker’s name, licence number and branding. Regulators publish warnings about these, so always check the official register and the approved website address.
-
Unregistered “brokers” on social media: be cautious of anyone offering accounts, signals or managed trading through messaging apps.
-
Pressure to deposit quickly: legitimate brokers do not need you to act urgently.
-
Promises of returns: no regulated firm can promise profits from trading.
Frequently asked questions
Is a multi-regulated broker always safer?
Not automatically. Multi-regulation shows a broker meets requirements in several jurisdictions, but your protection depends on the specific entity that holds your account and the rules of its regulator.
How do I know which entity I will be with?
It is usually determined by your country of residence. Check the account opening pages, the client agreement and the broker’s legal documents, which should name the company and its regulator.
What is XAU/USD?
XAU/USD is the price of one troy ounce of gold quoted in US dollars. Online, it is mostly traded as a CFD, which lets you speculate on price movements without owning gold.
Does regulation protect me from trading losses?
No. Regulation sets rules for how brokers operate and handle client money. It does not protect you from losses caused by market movements, which can be significant when trading leveraged products.
