8  Best FCA Regulated Forex Brokers 2024

How to compare FCA regulated brokers

FCA is one of the most respected financial regulatory agencies in the world. They are a very traditional but well-funded organization, making regulatory changes and issuing warnings to protect would-be traders and maintain fairness in the CFD industry. All FCA-regulated brokers can be considered safe due to the strict regulatory environment in which they operate, and most of them are very strong all-round. But it is essential to look at the detail of each broker to find out what differentiates them from each other. When comparing FCA regulated brokers consider:

Regulation: While your broker is FCA regulated, your trading account may not be. It is increasingly common for FCA regulated brokers to onboard UK residents onto a different license where trading conditions, like leverage, can be increased without the FCA oversight. While this is not fundamentally bad, a trader should know their trading account is regulated and that FCA will not enforce their regulations in overseas territories. If you value the regulatory oversight of the FCA, don’t trade that for adjusted trading conditions.

Platform choice: Traders have a wide range of industry platforms to choose from, each with pros and cons. When comparing brokers, always consider the platform options, as unique features or a wide variety of platforms could change your trading experience. 

Trading costs: Every broker will charge for their services, but each will have different pricing models and costs. While ECN brokers will charge a smaller spread combined with a commission based on volume, market maker brokers will charge a wider spread. We compare brokers by looking at what 1 lot of EURUSD costs to trade and would encourage traders to do the same in comparing costs. 

MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and their proprietary platforms. ECN/STP brokers will often support cTrader as it is built specifically for market execution and only allows for minimal broker interference.

Minimum Deposit: The minimum deposit could change by account type, with higher minimum deposits often linked to better conditions. Always consider the minimum deposit specific to the account type you may open. 

Deposit and Withdrawal Methods: Most brokers accept credit cards and bank transfer payments, and many accept online payments through Skrill and Neteller, and some will also accept Bitcoin. Always check the withdrawal fees before making a deposit. 

Why Trade with an FCA Regulated Forex Broker?

There are few genuinely strong regulators in the world; the Australian Securities and Investments Commission is one, the Cyprus Securities and Exchange Commission is another, and the UK’s Financial Conduct Authority (FCA) is probably the leading member of this group.

London, and the UK in general, is recognised globally for being a strong, reputable financial centre and so it stands to reason that the UK’s financial regulator also has a reputation for reliability and strength.

The FCA oversees all British firms and individuals offering financial services and applies one of the world’s strictest regulatory environments. This is also the case for Forex brokers operating in the country, with the FCA being very active in enforcing compliance with the rules and regulations governing CFD products and consumer protection.

The FCA has a long-standing reputation for guaranteeing trader security and dealing harshly with bad brokers. We will talk about the FCA’s broader role in ensuring a safe environment in more detail below, but first, let’s look at the current benefits of trading with an FCA-regulated broker.

The FCA’s Role In Forex Trading

FCA-regulated Forex brokers are governed by rules that enhance trust through enforcing market discipline, adjusting provider behaviour to prevent harm from happening to customers, and assisting when things go wrong.

The FCA’s role in Forex trading is to oversee the activities of the Forex brokers, to ensure compliance with rules that are designed to protect end-users and the overall economy.

A Forex broker that the FCA regulates is required to consider the interests of their customers and treat them fairly. Also, the FCA requires that information is shared with customers in a way that is easy to understand, fair and not misleading.

The mission of the FCA.

The Financial Conduct Authority (FCA) is the UK’s financial regulatory organisation. It replaced the Financial Services Authority in 2012, which had been compromised during the financial crash when it was revealed that flaws in the organisation had led to poor regulation. The FCA is more powerful and consumer-focused than the FSA was, which is good news for Forex traders as they are very well protected under the new regime. 

The mission of the FCA is to regulate financial services through a framework of directives, and enforcement mechanisms.  The board of the FCA reports to the Financial Services Ombudsman, who can bring information to the attention of parliament, and the industry through a series of publications.

What can consumers expect from the FCA?

In principle, a consumer should expect to get protection from the regulation and the enforcement of the rules of the FCA. The framework is designed to help protect those who may have a lesser understanding of the financial markets, from those who have a better understanding of them.

This protection includes helping Forex brokers set up rules for how to handle complaints and correct any issues.

The FCA’s main purpose, beyond the regulation of financial organisations, is to provide customers with reliable information. Their website maintains a warning list, which is a list of organisations that are potentially seeking to defraud customers, as well as provide information on the regulated entities and the products they offer.

The customer centre is available weekdays from 8 am to 6 pm, and half-day Saturday from 9 am to 1 pm, which gives potential traders access to knowledgeable financial specialists who can help answer questions, or take note of a complaint or report a scam.

All FCA Regulated Brokers

These are all the FCA-regulated brokers we have reviewed. They are ordered by overall score, placing the best-ranked broker at the top of the list.

Scroll for more details

Broker

Broker Score

Official Site

FCA (UK) Regulated

FCA License

Min. Deposit

Max. Leverage

Beginner Friendly

EUR/USD - Standard Spread

Cost of Trading

EUR/USD - Raw Spread

Total CFDs

Currency Pairs

Platforms

Website Language: English

Support Language: English

Compare

4.69 ^/5

Read Review Visit Broker >

71% of retail CFD accounts lose money

Yes 195355USD 0200:1Excellent0.60 pipsUSD 60.85 pips1929580MT4, L2 Dealer, ProRealTimeYesYes

4.68 ^/5

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70.3% of retail CFD accounts lose money

Yes 607305USD 10030:1Excellent0.70 pipsUSD 70.60 pips100956MT4, MT5, markets.comYesYes

4.62 ^/5

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68%Hello Chrisof retail CFD accounts lose money

Yes 113942USD 100200:1Excellent0.70 pipsUSD 70.70 pips564891MT4, MT5, FOREX.com Web Trader, TradingViewYesYes

4.61 ^/5

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89%74- of retail CFD accounts lose money

Yes 684312USD 030:1Excellent1.00 pipsUSD 100.17 pips1275100MT4, MT5, cTrader, TradingViewYesYes

4.58 ^/5

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71% of retail CFD accounts lose money

Yes 717270USD 10030:1Excellent0.00 pipsUSD 60.10 pips20962MT4, MT5YesYes

4.53 ^/5

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N/A of retail CFD accounts lose money

Yes 921296AUD 100500:1Excellent1.00 pipsUSD 100.06 pips84655MT4, MT5, TradingViewYesYes

4.53 ^/5

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72.90% of retail CFD accounts lose money

Yes 801701USD 0500:1Excellent1.00 pipsUSD 100.10 pips123053MT4, MT5, HFM Trading AppYesYes

4.44 ^/5

Read Review Visit Broker >

75.6% of retail CFD accounts lose money

Yes 509746USD 0500:1Excellent1.00 pipsUSD 100.00 pips18870MT4YesYes

4.43 ^/5

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71.89% of retail CFD accounts lose money

Yes 629628USD 0500:1Excellent1.10 pipsUSD 110.00 pips415046MT4, MT5, ThinkTraderYesYes

4.39 ^/5

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78% of retail CFD accounts lose money

Yes 522157USD 030:1Excellent0.70 pipsUSD 70.70 pips521157xStation5YesYes

4.37 ^/5

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81% of retail CFD accounts lose money

Yes 600475USD 102000:1Excellent1.50 pipsUSD 150.00 pips180362MT4, MT5YesYes

4.35 ^/5

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of retail CFD accounts lose money

Yes 590299USD 50500:1Excellent0.00 pipsUSD 60.00 pips90046MT4, MT5, ProTraderYesYes

4.28 ^/5

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76% of retail CFD accounts lose money

Yes 595450USD 100500:1Excellent0.80 pipsUSD 80.10 pips399682MT4, MT5, MT SupremeYesYes

4.28 ^/5

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74% of retail CFD accounts lose money

Yes 609970USD 100100:1Excellent2.00 pipsUSD 202.00 pips41550MT4YesYes

4.28 ^/5

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68% of retail CFD accounts lose money

Yes 217689USD 50400:1Standard1.30 pipsUSD 131.30 pips30645MT4, TradeStationYesYes

4.26 ^/5

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64% of retail CFD accounts lose money

Yes 190941USD 030:1Standard0.60 pipsUSD 60.60 pips333469Spreadex, TradingViewYesYes

4.25 ^/5

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73.5% of retail CFD accounts lose money

Yes 7110087USD 5800:1Excellent1.00 pipsUSD 100.20 pips42545MT4, MT5YesYes

4.25 ^/5

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62% of retail CFD accounts lose money

Yes 586541USD 5500:1Excellent0.10 pipsUSD 70.10 pips14680MT4, MT5YesYes

4.12 ^/5

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74% of retail CFD accounts lose money

Yes 186171USD 100500:1Standard1.20 pipsUSD 120.10 pips31070MT4, MT5YesYes

4.03 ^/5

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83.14% of retail CFD accounts lose money

Yes 501057GBP 11000:1Standard0 pipsUSD 80.20 pips87849MT4, MT5YesYes

4.00 ^/5

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79% of retail CFD accounts lose money

Yes 562170USD 1000100:1Standard1.30 pipsUSD 131.30 pips43484MT4, MT5, AdvancedTraderYesYes

3.64 ^/5

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75.35% of retail CFD accounts lose money

Yes 585561USD 501000:1Standard2.20 pipsUSD 220.00 pips28583MT4YesYes

3.61 ^/5

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N/A of retail CFD accounts lose money

Yes USD 0200:1Standard1.30 pipsUSD 131.30 pips16448MT4, MT5, cTraderYesYes

3.57 ^/5

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76% of retail CFD accounts lose money

Yes 609146USD 1030:1Standard2.40 pipsUSD 242.40 pips2139180trading212YesYes

3.52 ^/5

Read Review Visit Broker >

76% of retail CFD accounts lose money

Yes 586466USD 50030:1Standard0.20 pipsUSD 70.20 pips31142MT4, MT5YesYes

3.52 ^/5

Read Review Visit Broker >

71.36% of retail CFD accounts lose money

Yes 738538USD 10030:1Standard1.90 pipsUSD 193.00 pips221555MT4, MT5, SirixYesYes

Key achievements of the FCA

The FCA’s achievements, considering their short history, are significant. Since 2013, when the FCA started regulating the UK financial industry, London has become more acknowledged as a major global financial centre.

Before the FCA was set up, there was no mechanism in the UK to keep the retail investor safe from companies that promoted complicated financial products with a high-risk financial impact on the consumer.

The immediate achievement of the FCA is the development of the requirements for financial organisations designed to protect the consumer and a set of policies to help those who have already been harmed get easy access to a remedy.

The FCA is also transforming the attitudes of the companies and those who work in the financial sector in the UK. This change has meant for fairer products, marketing tactics, and the development of a more customer-centric approach.

In changing the way companies operate internally and how they work with clients to remedy issues they create, the FCA has accomplishment has made the financial sector in the UK and the companies that are regulated by it, much safer for the average retail Forex trader.

The history of the FCA

Commencing in December 2012 with the passing of the Financial Services Act of 2012, the FCA was founded in April 2013 to replace the Financial Services Authority (FSA) that had been in place since 2001.

The FSA acted as an arbitrator and had a broader mandate to oversee the entire financial system. When the FCA was created, it became responsible for the policing of the UK financial activities and the banking system. At the same time, the sister agencies, the Bank of England’s Financial Policy Committee and the Prudential Regulation Authority were also founded, which take responsibility for other financial sectors.

The global reputation of the FCA

The FCA is internationally recognised as one of the most trusted and objective regulatory services. It is a traditional organisation, and the framework which governs it was created in 2013 to manage the current-day marketplace.  This activity has indirectly impacted many millions of UK households and has set a standard for other similar organisations worldwide.

FCA Structure

The FCA board is responsible for the overall framework implementation – which includes oversight of 6 committees which report to it, and the appointment of the Chief Executive to execute the strategy set by the board.

The committee structure gives insights into the risks the FCA sees in the market, and how they work together in a system of self-regulation and gradual adaptation to prevent new threats.

The Risk & Strategy Committee evaluates the risks that are posed by the financial organisations on the market and is tasked to find strategies to mitigate those risks from being passed on to the consumers.

The Audit Committee monitors the effectiveness of the policies and the strategies used by the FCA.

The Regulatory Decisions Committee is the committee that takes action against organisations that violate the rules. This committee acts on tips from the public and information from the investigators on the audit committee.

The Oversight Committee then works with the board of the FCA to manage their relationship with the parliamentary-appointed Financial Services Ombudsman, who is the UK’s official expert in sorting out problems with financial services. This relationship is valuable as it brings information to the government so that laws can be written, and government oversight is present.

The Remuneration Committee is a committee that oversees a transparent process for how executives at the FCA are paid. This process ensures fair treatment of all staff and also respects that the FCA is a publicly funded organisation.

Similar to the Remuneration Committee, the Nominations Committee, acts as an internal mechanism to ensure the integrity of skills on the board so that the mandate of the FCA continues to be acted on effectively.

These committees, working with and feeding off each other, create a robust self-regulated system of rule-setting, auditing, enforcement and accountability to the people of the UK.

Summary

The FCA is a highly valuable protective component of the UK financial services system that has been put in place to protect consumers with little financial knowledge from organisations with more knowledge selling them complex and risky financial products.

Any organisation that is regulated by the FCA is mandated to treat the customer fairly, and in the absence of a customer directive, make the decision that best suits the interest of the customer.

An FCA-regulated organisation takes responsibility for the accuracy and transparency of the information they promote and maintains discipline in their internal processes that are designed to protect themselves and their clients.

A Forex broker that is regulated by the FCA will expect their advice and support to be available in helping set up internal processes to protect and remedy issues that should arise in their business.

Overall, an FCA-regulated broker can be trusted to protect your funds, never communicate misleadingly, and will have the client’s best interest in mind when doing business or selling financial products and services.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. Forex and CFD transactions involve high risk due to the following factors: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. Regardless of how much research you have done or how confident you are in your trade, there is always a substantial risk of loss. (Learn more about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).

Our Rating & Review Methodology

Our overall Forex Rankings report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

 

Vanessa Marcos
Financial Writer

Vanessa joined the team in 2023. Born and raised in southern Portugal, she has a BA in Journalism and a Master’s in Literary Theory, both from Lisbon University. Since 2011, she has worked in social media, copywriting, content management, ghost-writing, and SEO. Vanessa loves to write, and although she is a generalist in digital marketing, she always draws on her creativity in her work. She is constantly researching new subjects and finds the analytical depth of Forex trading fascinating.