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60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

AuthorAuthor: Jeffrey CammackPublished: October 14, 2019
EditorEditor: Alison HeyerdahlUpdated: March 14, 2024

Last Updated On March 14, 2024

Jeffrey Cammack

The Financial Conduct Authority (FCA) is the UK’s financial regulator and all Forex brokers based in the UK, or offering services to UK residents, must hold an FCA licence.  All FCA-regulated brokers must segregate client funds, provide negative balance protection, process withdrawals instantaneously, and offer a maximum leverage of 30:1 for Forex trading. In addition, all brokers with an FCA licence are members of the Financial Services Compensation Scheme, which provides compensation to consumers in the event of bankruptcy.

The FCA-regulated brokers below have low trading costs and a good reputation, but each has unique features making them suitable for different types of traders.  

These are the best FCA-regulated brokers for 2024, according to our testing and our research.

  • Tickmill - Lowest Commission STP/ECN Broker
  • IG - Best Regulated Broker
  • Pepperstone - Best Overall FCA Regulated Broker
  • XTB - Best Research and Market Analysis
  • HF Markets - Best Analysis App
  • FxPro - Best Execution
  • markets.com - Best Proprietary Platform
  • Axi - Best MT4 Customisation
  • Admirals - Best MetaTrader Platform Support

Best FCA regulated Forex brokers for 2024

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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
Tickmill
4.58 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
717270GBP 10030:1Excellent0.00 pipsUSD 40.10 pips20962MT4, MT5
IG
4.69 /5
Read Review
Visit Broker >
69% of retail CFD accounts lose money
195355GBP 030:1Excellent0.60 pipsUSD 60.85 pips1929580MT4, L2 Dealer, ProRealTime
Pepperstone
4.61 /5
Read Review
Visit Broker >
89%74- of retail CFD accounts lose money
684312GBP 030:1Excellent1.00 pipsUSD 100.17 pips1275100MT4, MT5, cTrader, TradingView
XTB
4.39 /5
Read Review
Visit Broker >
78% of retail CFD accounts lose money
522157GBP 030:1Excellent0.70 pipsUSD 70.70 pips521157xStation5
HF Markets
4.45 /5
Read Review
Visit Broker >
72.83% of retail CFD accounts lose money
801701GBP 030:1Excellent1.30 pipsUSD 60.30 pips11290MT4, MT5
FxPro
4.39 /5
Read Review
Visit Broker >
71.58% of retail CFD accounts lose money
509956GBP 10030:1Excellent1.40 pipsUSD 140.40 pips224170MT4, MT5, cTrader, FxProEdge
Markets.com
4.68 /5
Read Review
Visit Broker >
70.3% of retail CFD accounts lose money
607305GBP 10030:1Excellent0.70 pipsUSD 70.60 pips100956MT4, MT5, markets.com
Axitrader
4.44 /5
Read Review
Visit Broker >
75.6% of retail CFD accounts lose money
509746GBP 030:1Excellent1.00 pipsUSD 100.00 pips18870MT4
Admiral Markets
4.28 /5
Read Review
Visit Broker >
76% of retail CFD accounts lose money
595450GBP 25030:1Excellent0.80 pipsUSD 80.10 pips399682MT4, MT5, MT Supreme
Eightcap
4.53 /5
Read Review
Visit Broker >
N/A of retail CFD accounts lose money
921296GBP 10030:1Excellent1.00 pipsUSD 101.00 pips84640TradingView

Why Trade with an FCA-regulated broker?

The FCA oversees all British firms, Forex brokers, and individuals offering financial services and applies one of the world’s strictest regulatory environments. The FCA also actively enforces compliance with the rules and regulations governing CFD products and consumer protection.

How did FxScouts choose the best FCA-regulated brokers

When reviewing brokers for this list of recommended FCA-regulated brokers, we:

  • Chose brokers that onboard clients via their FCA-regulated operation here in the UK. With the end of regulation passporting from the EU, fewer brokers are regulated by the FCA than pre-2024. In addition, some brokers are FCA-regulated, but onboard UK residents using an offshore licence. This allows them to offer different trading conditions, especially higher leverage, which increases risk.
  • Ensured that each broker allowed trading accounts to be held in GBP, so British traders do not have to pay currency conversion fees when funding their account.
  • Considered the platforms offered by each broker. This refers especially to third-party platforms such as MetaTrader 4 and cTrader. Each platform has different features and conditions, which we evaluated when choosing the brokers listed here.
  • Accounted for trading costs. Brokers have different pricing models, including spreads, commissions, and other fees. We selected the brokers with low fees.
  • Compared minimum deposit values. When selecting brokers, we favour those with lower minimum deposit values.
  • Analysed deposit and withdrawal methods. Each broker has different rules regarding deposits and withdrawals, offering various payment options and included fees.
  • Evaluated customer support, preferring services available at least 24/5. We made sure that every broker listed had knowledgeable and efficient support on different channels like live chat or UK phone numbers.

 


Others Also Visit

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Visit
AvaTrade
4.59 /5
Read Review
Visit
Tickmill
4.58 /5
Read Review
Visit
XM
4.45 /5
Read Review
Visit
Pepperstone
4.61 /5
Read Review
Visit
XTB
4.39 /5
Read Review
Visit

Tickmill – Lowest Commission STP/ECN Broker

Broker Score
4.584.58 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 4
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Established in 2014 and headquartered in London, Tickmill has seen extraordinary growth since its foundation, with over 110,000 traders on its books and an average monthly trading volume of over 120 billion USD. Tickmill acquired its FCA licence (registration no. 717270) in 2016 and to date, its UK office has attracted over 38,000 clients, drawn by its low commission accounts and low non-trading fees.

Low Commission Accounts: Tickmill offers three live accounts on both the MT4 and Mt5 platforms. While its commission-free entry-level account features higher trading fees than other brokers, with spreads that start at 1.6 pips on the EUR/USD, traders will be interested in the Pro and VIP accounts, which offer spreads of 0 pips and commissions of 4 USD and 2 USD, respectively.  However, in order to open a VIP account, traders will have to maintain an account balance of 50,000 USD.

Non-trading Fees: Unlike other brokers that charge fees on almost all transactions, Tickmill’s non-trading fees are low. No fees are charged for deposits or withdrawals, and Tickmill does not charge fees on inactive accounts. Tickmill also has a Zero Fee policy and will reimburse traders for any third-party fees charged up to 100 USD on deposits of over 5,000 USD.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles. 71% of traders lose money with this provider.

IG Markets – Best Regulated Broker

Broker Score
4.694.69 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Founded in 1974, in London, IG Markets is one of the best-regulated brokers in the world. With regulation from over 17 regulatory authorities, including the FCA (licence no.195355), IG Markets is also publicly traded on the London Stock Exchange. In compliance with FCA regulation, IG Markets holds all client money in independent trust accounts at a range of credit-worthy high street banks such as Barclays and Lloyds. IG Markets also offers a low-cost trading environment and one of the largest sets of financial instruments in the industry, with over 17,000 instruments available for trading.

Trading Fees: IG Markets offers one live account, available on three trading platforms. Trading fees vary depending on the platform chosen, but are generally lower than average, with spreads of 0.85 pips on the EUR/USD and no commissions for Forex trading.  Additionally, there are no minimum deposit requirements to open an account, except on the L2 Dealer platform, where traders are required to maintain a minimum account balance of 2000 USD.

Financial Instruments: IG Markets offers over 17,000 financial instruments to trade, a larger range than is found at other brokers. These include 13,000 share CFDs, 6000 ETFs, and 80 Forex pairs. However, under the FCA regulations, IG no longer offers trading on cryptocurrencies. IG Markets also offers weekend trading on major Forex pairs and 24 hour trading on Britain’s leading stock index, the UK 100. Both of these are unique services that are not available at other brokers.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
AlertAccepts UK Clients. Average spread EUR/USD 0.85 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.

Pepperstone – Best Overall FCA Regulated Broker

Broker Score
4.614.61 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Established in 2010 in Australia, Pepperstone entered the UK market in 2016. Pepperstone UK is regulated by the FCA (licence no. 684312) and all client funds are kept in segregated trust accounts at Barclays.  As of June 2020, Pepperstone’s UK office had almost 8,000 clients, drawn by Pepperstone’s low fees, its range of UK share CFDs and choice of three popular trading platforms.

Trading Platforms: Pepperstone offers support for three of the most popular trading platforms, including Metatrader 4 (MT4), Metatrader 5 (MT5), and cTrader. Although it was developed in 2002, MT4 is the most widely used cross-broker trading platform available. MT5, the newer version of MT4, has greater functionality and more advanced charting tools, while cTrader has a more intuitive design and is easier for beginners to operate, but offers most of the automated trading tools found on MT4 and MT5. 

Low Trading Fees: Pepperstone offers two simple account types with competitive trading fees.  The Standard Account has fees included in its variable spreads, which average at 0.84 pips* on the EUR/USD, while the Razor Account offers raw spreads of 0.24 pips in exchange for a round-turn commission of 7 USD.  Overall, these are some of the lowest trading fees in the industry.

*spreads correct as of 09:00 GMT on 20/12/2022

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts UK Clients. Average spread EUR/USD 1.00 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, CySEC, SCB, CMA, BaFin and the DFSA. 75.6% of traders lose money with this provider.

XTB – Best Research and Market Analysis

Broker Score
4.394.39 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

XTB was founded in Poland in 2002 and gained an FCA licence (registration no. 522157) to expand its reach into the UK. With many years in the forex trading space, XTB now has a customer base of over 389,000 traders across the world. Under the strict FCA regulatory environment, XTB insures client funds through Lloyd’s of London, providing coverage of up to 1 million GBP per trader. XTB also stands out for its in-house trading platform, xStation 5, and excellent market research, curated by its team of expert traders.

Market Research: XTB’s market research amenities are excellent compared to other brokers. Aside from an economic calendar that is intuitive and filterable, XTB offers an updated newsfeed with excellent search functionality. XTB’s market analysis tab also features a number of useful analytical tools, including market sentiment, top movers, a stock scanner, and heat maps. Each section is well-structured and provides a number of actionable trading ideas.   

xStation 5: Although trading platform choice is limited to xStation 5, it offers many of the same advanced trading features found on the more popular trading platforms such as MT4. However, xStation 5 introduces XTB sentiment data directly into the platform, allowing traders to view the percentage of clients trading long and short, and on which instruments.  It also offers powerful charting tools, one-click trading, real-time performance statistics, and a trader’s calculator. In addition, XTB’s mobile application connects seamlessly to the xStation 5 desktop version. 

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. xStation5 platform supported. XTB Group is regulated by CySEC, DFSA, FCA and the IFSC. 77% of traders lose money with this provider.

HF Markets – Best Analysis App

Broker Score
4.454.45 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Established in 2010, HF Markets is an award-winning Forex and commodities broker based in London. In 2012 HF Markets revealed that it added the FCA licence (registration no. 801701) to its long list of credentials. Since then HF Markets has demonstrated its ability to comply with the rigorous standards set up by the FCA. HF Markets also stands out for its diverse range of financial instruments and the HF App – providing traders with access to their accounts and a variety of trading tools, news, and financial analysis.

Financial Instruments: HF Markets offers traders a wider and more diverse range of tradable assets than is typically found at other brokers, including various specialty CFDs. Trading is offered on 53 Forex pairs, alongside share CFDs, commodities, bonds, over 34 ETFs, and 950 stock DMAs, which are rarely seen at other brokers. Traders may be disappointed that cryptocurrencies are no longer available, but new FCA regulatory rules prohibit crypto trading.  All assets are available on its three accounts, which have minimum deposits that start at 100 USD, and low trading fees compared to other similar brokers. The Zero Spread Account is particularly notable, with spreads that start at 0.1 pips on the EUR/USD in exchange for a round-turn commission of 6 USD.

HF App: The HF App, available on both Android and iOS, offers traders direct access to the myHF Area. It allows traders to withdraw, deposit, and transfer funds, create watchlists, offers advanced charting functionality, various trading calculators, and an Economic Calendar.  The HF App also offers Daily Market Analysis curated by its team of in-house experts, which provides frequent fundamental and technical analysis updates, video analysis, and special reports.

Pros
  • Well regulated
  • Excellent market analysis
Cons
  • Limited base currencies
AlertAccepts UK Clients. Average spread EUR/USD 0 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA. 69.03% of traders lose money with this provider.

FXPro – Best Execution

Broker Score
4.394.39 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Founded in Cyprus in 2006, FxPro has a regional HQ in London and has been regulated by the FCA since 2010 (licence no. 509956). FxPro has expanded rapidly since its foundation and over the years 1.8 million client accounts have been opened across 173 countries worldwide. In addition to complying with the strict rules set out by the FCA, FxPro offers spread betting to British traders via its in-house spread betting platform, FXPro Edge. Additionally, FxPro provides some of the fastest execution speeds in the industry. 

Fast Execution: FxPro provides its clients with exceptionally fast trade execution, which means that orders are filled at close to the quoted price. Most trades are filled in under 14 milliseconds, with 80.48% of market orders executed at the requested price, while 9.6% of clients receive a better price or positive slippage.  Although FxPro provides fast execution, its trading fees are slightly higher than other brokers across all account options.  Minimum deposits start at 100 USD on all accounts, but trading costs vary between 12 USD to 18 USD on one lot of EUR/USD traded.

Trading Platforms: FxPro offers a broader range of trading platforms than other brokers, including MT4, MT5, cTrader, and FxPro’s in-house platform, FxPro Edge. MT4, MT5, cTrader are considered some of the best trading platforms in the industry, with advanced charting and automated trading capabilities. However, the benefit of trading on FxPro Edge is that it connects seamlessly to the FxPro App allowing traders to manage their funds and trade from the integrated platform. Traders can also use the Edge trading platform for spread betting (tax-free trading). Spread Betting is available on Forex, Shares, Spot Indices, Spot Metals, and Spot Energies and is only available to UK residents.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts UK Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the SCB. 71.58% of traders lose money with this provider.

Markets.com – Best Proprietary Platform

Broker Score
4.684.68 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Established in 2008, Markets.com is one of the most highly regulated brokers in the industry. With regulation from five authorities, including the FCA (licence no. 607305), Markets.com is well-positioned to offer trading services to residents of the UK. Markets.com is also a subsidiary of Playtech Ltd, publicly listed on the London Stock Exchange. Markets.com’s FCA regulation enables it to provide spread betting, a service unique to UK residents. Markets.com offers one live account, with various account tiers available on three trading platforms, including MT4, MT5, and the Markets.com platform, one of the best in-house trading platforms in the industry.

Markets.com platform: The Markets.com platform is an award-winning trading platform known for its ease of use and excellent features. With a clean, intuitive design, the platform offers advanced charting, making it easier to spot trends and identify new trading opportunities. It also allows traders to add up to five types of indicators to the chart at once and compare up to eight instruments side-by-side. Additionally, the platform integrates with a number of trading tools, including signals, bloggers’ opinions, and trends, among others.

Markets.com’s Trading Fees: Markets.com’s trading has extremely low trading fees, starting at 0.6 pips (EUR/USD) with no commissions for Forex trading, which is lower than other similar brokers. The minimum deposit is also reasonable, at 100 USD/EUR/GBP, putting it well within reach of most traders.

Pros
  • Regulation by top-tier authorities
  • Hassle-free withdrawal process without any fees
  • Its proprietary trading platform is praised for its user-friendly interface catering to both beginners and experienced traders
  • Competitive spreads starting from 0.6 pips
Cons
  • The maximum leverage of 300:1 could pose a risk for uninformed traders warranting cautious utilization
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 , and Markets.com platforms supported. Markets.com is regulated by the FCA, CySEC, ASIC, and the BVI FSC. 70.3% of traders lose money with this provider.

Axi – Best MT4 Customisation

Broker Score
4.444.44 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Originally from Australia, Axi opened its UK branch and acquired an FCA licence (registration no. 509746) in 2012. In 2020, Axi became a sponsor of Manchester City and launched the Axi Select programme, which provides talented retail traders with funding to become professional traders. Axi only supports the MetaTrader 4 (MT4) trading platform but provides lots of tools and plugins to make the platform more powerful.

MT4 Customisation: Although trading platform support is limited to MT4, Axi offers many tools and plugins that can be added to the trading platform to make it more powerful. Traders who maintain an account balance of more than 1000 USD can access the MT4 NexGen plugin, which includes an advanced sentiment indicator, a correlation trader, a more intuitive terminal window, and an automated trade journal. Traders also have free access to PsyQuation, an advanced data analytics plugin that analyses your trading style, identifies mistakes, and helps you avoid making similar mistakes again. 

Axi Select: Axi Select provides a means for talented traders to gain the capital funding required to become professional traders. For retail traders that demonstrate potential, Axi provides all the tools, education, and financial backing to progress in the Forex trading space. Axi allocates up to 500,000 GBP per qualified trader and allows traders to earn a 20% performance fee once they meet certain program criteria.

Pros
  • Low minimum deposit
  • Tight spreads
  • Innovative trading tools
Cons
  • MT4 only
  • Limited range of assets
AlertAccepts UK Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA. 75.6% of traders lose money with this provider.

Admirals – Best MetaTrader Platform Support

Broker Score
4.284.28 / 5
🏦  Min. DepositGBP 250
🛡️  Regulated By
💵  Trading Cost 
USD 8
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

An FCA-regulated STP broker, Admirals is renowned for its wide range of tradeable instruments and excellent MetaTrader platform support.  Admirals offers five live trading accounts on both the Metatrader 4 and Metatrader 5 platforms.  It also created a customised plug-in, the MetaTrader Supreme Edition, which provides insights from a third-party provider, Trading Central, including pattern recognition and technical analysis directly to the platforms.  MetaTrader Supreme also features the Global Opinion toolset, which harnesses the power of news sentiment on a global scale, by detecting subtle, but significant changes in the undercurrents of the financial markets. 

Admiral Markets offers both MT4 and MT5 market execution accounts suitable for beginners and more experienced traders, with minimum deposit requirements of 100 USD on all accounts, tight spreads starting at 0.5 pips on the EUR/USD, and charges a low commission of 1.8 – 3 USD per lot traded. 

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, the JSC, and the FCA. 76% of traders lose money with this provider.

What is the FCA?

The FCA is one of the world’s most respected financial regulatory agencies. It is 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.

There are few genuinely strong regulators in the world; the Australian Securities and Investments Commission is one, and the Cyprus Securities and Exchange Commission is another. 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, 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 dealing harshly with bad brokers. We will talk about the FCA’s broader role in ensuring a well-regulated environment in more detail below, but first, let’s look at the current benefits of trading with an FCA-regulated broker.

  • Segregated Accounts: Like most good regulators, the FCA ensures that all brokers keep client funds segregated from broker operational funds and in Tier 1 banks.
  • Operating Capital: To ensure that all Forex brokers can maintain their clients’ positions in the market, every FCA-regulated broker must have at least 1 million GBP in operating capital, which increases according to the number of traders and the trading capital. This is to ensure that all brokers can meet their financial obligations without fail.
  • Instant Withdrawal Processing: Brokers must ensure that all withdrawals are processed instantaneously.
  • Financial Service Compensation Scheme (FSCS): The FSCS is one of the most generous compensation schemes in the world. It protects traders against broker bankruptcy by providing a guarantee of up to 50,000 GBP in compensation.

All FCA Regulated Brokers

This is our list of all FCA-regulated brokers we have reviewed, sorted by overall rating. Those brokers with the highest overall score will appear at the top of the list.

Scroll for more detailsPreviousNext
Broker
Broker Score
FCA License
Min. Deposit
Max. Leverage (Forex)
Regulators
Cost of Trading
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Total # CFDs
No. of FX Pairs
Trading Commission
Platforms
Compare
IG
4.69 /5
Read Review
195355GBP 030:1FCA Regulated Forex BrokersASIC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenUSD 60.85 pips1.40 pips0.94 pips1929580Fees Included in SpreadMT4, L2 Dealer, ProRealTime
Markets.com
4.68 /5
Read Review
607305GBP 10030:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersBritish Virgin Islands Financial Services CommissionUSD 70.60 pips1.20 pips0.70 pips100956Fees Included in SpreadMT4, MT5, markets.com
Pepperstone
4.61 /5
Read Review
684312GBP 030:1FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersUSD 100.17 pips0.59 pips0.26 pips1275100From 7 USD / lot - Razor AccountMT4, MT5, cTrader, TradingView
Tickmill
4.58 /5
Read Review
717270GBP 10030:1CySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services Conduct AuthorityDFSA Regulated Forex BrokersUSD 40.10 pips0.30 pips0.10 pips209624 USD / lotMT4, MT5
Axitrader
4.44 /5
Read Review
509746GBP 030:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersDFSA Regulated Forex BrokersUSD 100.00 pips0.10 pips0.10 pips188707 USD / lot - PRO accountMT4
FxPro
4.39 /5
Read Review
509956GBP 10030:1FCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDFSA Regulated Forex BrokersUSD 140.40 pips1.00 pips0.60 pips2241709 USD / lotMT4, MT5, cTrader, FxProEdge
XTB
4.39 /5
Read Review
522157GBP 030:1CySEC Regulated BrokersFCA Regulated Forex BrokersDFSA Regulated Forex BrokersInternational Financial Services CommissionUSD 70.70 pips2.20 pips1.40 pips521157Fees Included in SpreadxStation5
FXTM
4.37 /5
Read Review
600475GBP 1030:1CySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services CommissionUSD 150.00 pips0.20 pips0.00 pips180362From 4 USD / ECN AccountsMT4, MT5
Vantage FX
4.35 /5
Read Review
590299USD 5030:1FCA Regulated Forex BrokersFinancial Services Conduct AuthorityASIC Regulated BrokersCayman Islands Monetary AuthorityUSD 60.00 pips0.50 pips0.40 pips900466 USD / lot - ECN AccountMT4, ProTrader
Hantec Markets
4.33 /5
Read Review
502635USD 10030:1ASIC Regulated BrokersFinancial Services AgencyFCA Regulated Forex BrokersFinancial Services CommissionUSD 120.20 pips0.50 pips0.50 pips2006130Fees Included in SpreadMT4, MT5
Admiral Markets
4.28 /5
Read Review
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What is the FCA’s Role In Forex Trading?

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

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

A Forex broker that is regulated by the FCA 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 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 consumers can expect from the FCA

In principle, a consumer should expect 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 handling complaints and correcting 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 and 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, take note of a complaint or report a scam.

Key achievements of the FCA

The FCA’s achievements, considering its 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 working in the UK’s financial sector. This change has meant fairer products, marketing tactics, and the development of a more customer-centric approach.

The history of the FCA

The FCA replaced the Financial Services Authority in 2012, whose reputation had been impacted during the financial crash when it was revealed that structural flaws in the organisation had led to poor regulation. As a result, the FCA is more powerful and consumer-focused than the FSA was.

The FSA acted as 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 that the FCA was founded, sister agencies of the Bank of England’s Financial Policy Committee and the Prudential Regulation Authority took 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 organizations 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 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, 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 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 valuable protective component of the UK financial services system. One of its many roles is ensuring that consumers with little financial knowledge are treated fairly by companies providing complex and risky financial products, such as Forex brokers. In the absence of a clear customer directive, all FCA-licensed companies must make decisions that best suit the customer’s interest.

An FCA-regulated organisation takes responsibility for the accuracy and transparency of the information it promotes and maintains discipline in its internal processes designed to protect itself and its clients.

Overall, an FCA-regulated broker must protect your funds, never communicate misleadingly, and must have the client’s best interest in mind when 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.

 

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