FCA Regulated Brokers
FCA (Financial Conduct Authority) formerly named FSA. This authority was launched in 2013 as a part of the Bank of England. FCA has a responsibility to overseen forex and CFD transactions in the United Kingdom. During this time, there's a common notion of forex brokers gaining profit from the losses of traders. FCA abolished this assumption and created a better forex trading atmosphere.
The United Kingdom learned from the mistakes of 2008 when a financial crisis hit the low protected-markets. FCA-regulated forex brokers are qualified companies, being able to meet the company's minimum capital requirements of 125,000 pounds (for STP brokers) and 730,000 pounds market-makers brokers. Besides, FCA strict supervision requires the broker to report the company's performance on a daily, monthly, and quarterly basis.
As one of the best financial markets in the world, the United Kingdom through FCA ensures that forex trading activities in the country remain competitive, without neglecting customer protection. FCA-regulated brokers also automatically get regulation and supervision from ESMA.
Some clients may worry about the development of Brexit which will make the UK separate from the EU. The FCA stresses that its brokers located in the UK and outside the region will continue to comply with European Union regulations so that clients do not have to worry about their protection rights.
Here is a list of FCA-regulated forex brokers:
Broker | Regulation | Max Leverage | Min Deposit | General Rating | |
---|---|---|---|---|---|
ActivTrades Bahamas 2001 | DFSA (Dubai) F003511 FCA (UK), 434413 Securities Commission of The Bahamas, 199667 | 1:400 | $100 | Review | |
XTB Austria 2002 |
CNMV (Spain), 40 Czech National Bank 56720 DFSA (Dubai), 4365 FCA (UK), 522157 FSA (Poland), 0000217580 FSCA (South Africa), 49970 IFSC (Belize), IFSC/60/413/TS/19 ESMA | 1:30 | $1 | Review | |
Axi Australia 2007 |
ASIC, 318232 DFSA (Dubai), 2758 FCA (UK), 509746 FSCL (New Zealand) FSP518226 | 1:500 | $1 | Review | |
Interactive Brokers Australia 1977 |
ASIC, 453554 Central Bank of Ireland 23.12.2020 CFTC/NFA, 0258600 FCA (UK), 208159 Hungarian National Bank, H-EN-III-623/2020 Monetary Authority of Singapore, CMS100917 SEC (US), 8-47257 | 1:100 | $10000 | Review | |
Windsor Brokers China 1998 | AFM (Netherlands) 72346 BaFin, 120311 CySEC, 030/04 FCA (UK), 463727 ESMA | 1:500 | $100 | Review | |
Vantage Australia 2006 |
ASIC, #ACN 140 903 886 Cayman Islands Monetary Authority, 1383491 FCA (UK), 501057 Vanuatu Financial Services Commission, 700271 | 1:500 | $200 | Review | |
HYCM Hong Kong 1977 |
Cayman Islands Monetary Authority, 1442313 CySEC, 259/14 DFSA (Dubai), 000048 FCA (UK), 186171 FSA (St. Vincent & the Grenadines), 25228 | 1:325 | $100 | Review | |
IG Australia 1974 |
CFTC/NFA, 0509630 FCA (UK), 195355 | 1:50 | $1 | Review | |
Hantec Markets Australia 2009 |
FCA (UK), 502635 FSC (Mauritius), C114013940 Jordan Securities Commission 51905 | 1:30 | $1000 | Review | |
Admirals Argentina 2001 |
ASIC, 28381 CySEC, 201/13 FCA (UK), 595450 FSA (Estonia), 10932555 FSA (Seychelles), 8426894-1 IIROC, 29.04.2022 Jordan Securities Commission, 57026 | 1:500 | $100 | Review | |
Exness Cyprus 2008 |
CySEC, 178/12 FCA (UK), 730729 FSA (Seychelles), SD025 FSC (BVI), SIBA/L/20/1133 FSC (Mauritius), 176967 FSCA (South Africa), 51024 The Financial Commission 22.07.2021 | 1:2000 | $1 | Review | |
ThinkMarkets Australia 2010 |
ASIC, 424700 FCA (UK), 629628 FSA (Japan), 01.03.2022 FSCA (South Africa), FSP No 49835 | 1:500 | $1 | Review | |
Forex.com Australia 1999 | CFTC/NFA 0339826 FCA (UK), 190864 FSA (Japan), 1539 IIROC, May 10, 2012 | 1:200 | $250 | Review | |
Plus500 Australia 2008 |
ASIC, 417727 CySEC, 250/14 FCA (UK), 509909 FSA (Estonia) 16128206 FSCA (South Africa), 47546 ISA (Israel), 5 Monetary Authority of Singapore, 2017-12-11 | 1:300 | $100 | Review | |
Tickmill Seychelles 2014 |
BaFin, 146511 CySEC, 278/15 FCA (UK) 717270 FSA (Seychelles), SD008 FSCA (South Africa), 49464 | 1:500 | $100 | Review | |
eToro China 2007 |
ASIC, 491139 CySEC, 109/10 FCA (UK), FRN 583263 FINRA 298361/SEC#: 8-70212 | 1:400 | $200 | Review | |
Saxo Bank China 1992 |
ASIC, 109605610 Banque de France, 483632501 CySEC, 163/12 FCA (UK), FC026688 FSA (Denmark), 1149 SFC (Hong Kong) 1395901 ESMA | 1:200 | $2000 | Review | |
FXOpen Australia 2003 |
ASIC, 412871 FCA (UK), 579202 | 1:500 | $1 | Review | |
HotForex Cyprus 2010 | Capital Markets Authority of Kenya 26/01/2022 CySEC, 183/12 DFSA (Dubai), F004885 FCA (UK), 801701 FSA (Seychelles), 8419176-1 FSA (St. Vincent & the Grenadines), 22747 FSC (Mauritius), 094286 FSCA (South Africa), 466 | 1:1000 | $5 | Review | |
OANDA British Virgin Islands 1995 |
CFTC/NFA, 0325821 FCA (UK), 54257 FSA (Japan), 1571 FSC (BVI) SIBA/L/20/1130 Kanto Local Finance Bureau (Japan), 2137 MFSA, 18.12.2020 | 1:200 | $1 | Review | |
ETX Capital Cyprus 1965 |
CySEC, 096/08 FCA (UK), 124721 FSCA (South Africa) 50246 | 1:400 | $100 | Review | |
FxPro Bahamas 2006 |
CySEC, 078/07 DFSA (Dubai), F003333 FCA (UK), 509956 FSCA (South Africa), 45052 | 1:50 | $100 | Review | |
Orbex Cyprus 2009 |
Banque de France, 73762 CNMV (Spain) 2894 CONSOB (Italy), 3148 CySEC, 124/10 FCA (UK), 553071 ESMA | 1:500 | $200 | Review | |
OctaFX Saint Vincent and the Grenadines 2011 |
CySEC, 372/18 FCA (UK), 679306 IFSA (St. Vincent and Grenadines) 19776 IBC 2011 | 1:500 | $100 | Review | |
CPT Markets Belize 2008 |
FCA (UK), 606110 IFSC (Belize), IFSC/60/430/18(33)h | 1:500 | $500 | Review | |
IronFX Australia 2010 |
ASIC, 417482 CySEC, 125/10 FCA (UK), 585561 FSCA (South Africa), 45276 | 1:30 | $100 | Review | |
Swissquote Hong Kong 1996 |
DFSA (Dubai), 4 FCA (UK), 562170 FINMA 4 SFC (Hong Kong), 3 | 1:100 | $1000 | Review | |
XM Australia 2009 |
ASIC, 443670 BaFin, 124161 CNMV (Spain), 2010157773 CONSOB (Italy), 3046 CySEC, 120/10 FCA (UK), 538324 FSP (New Zealand) FSP235905 ESMA | 1:888 | $5 | Review | |
FXTM Belize 2011 | CySEC 185/12 FCA (UK), 777911 FSC (Mauritius), C113012295 FSCA (South Africa), 46614 | 1:2000 | $10 | Review | |
Pepperstone Australia 2010 |
ASIC, 414530 BaFin 151148 Capital Markets Authority of Kenya, 128 CySEC, 388/20 DFSA (Dubai), F004356 FCA 684312 SCB SIA-F217 | 1:30 | $200 | Review | |
FBS China 2009 |
ASIC, 426359 CySEC, 331/17 FSCA (South Africa), 50885 IFSC (Belize) IFSC/000102/310 FCA temporary permit 808276 | 1:3000 | $1 | Review | |
GKFX Chile 2009 |
ASIC, 424122 BaFin, 130602 CONSOB (Italy) 2915 Czech National Bank, 256/2004 DMCC (Dubai), 32142 FCA (UK), 501320 Finansinspektionen (Sweden), 556873-1326 FINRA, 16.06.2021 SFC (Hong Kong), AZJ874 ESMA | 1:30 | $200 | Review | |
FXCM Australia 1999 | ASIC 309763 CONSOB (Italy), 76 CySEC, 392/20 DMCC (Dubai), 31171 FCA (UK), 217689 ISA (Israel), 2 SFC (Hong Kong), AIM232 ESMA | 1:400 | $1 | Review | |
Alvexo Cyprus 2014 |
AFM (Netherlands), 02-04-2015 BaFin, 142529 CNMV (Spain), 3917 CONSOB (Italy), 4789 CySEC, 236/14 FCA (UK), 683301 FSA (Seychelles), SD030 ESMA | 1:400 | $500 | Review | |
Key to Markets United Kingdom 2010 |
FCA (UK), 527809 FSC (Mauritius), GB19024503 FSP (New Zealand), FSP296226 | 1:500 | $100 | Review | |
Darwinex United Kingdom 2012 |
FCA (UK), 586466 | 1:200 | $10000 | Review | |
Credit Financier Invest Cyprus 1998 |
BaFin, 1338881 Banque du Liban 40 CySEC, 179/12 DFSA (Dubai), F003933 FCA (UK), 602588 Jordan Securities Commission, 200164731 | 1:30 | $1 | Review | |
City Index United Arab Emirates 2001 |
ASIC, ACN 141 774 727, AFSL 345646 FCA (UK), 113942 Monetary Authority of Singapore 200400922K | 1:30 | $250 | Review | |
Core Spreads United Kingdom 2014 |
FCA (UK), 525164 | 1:240 | $1 | Review | |
Capital Index Australia 2014 |
FCA (UK), 709693 Securities Commission of The Bahamas, SIA-F199 | 1:200 | $100 | Review | |
Abshire-Smith United Kingdom 2011 |
FCA (UK), 551970 | 1:200 | $500 | Review | |
CMC Markets Australia 1989 |
BaFin, 154814 FCA (UK), 173730 | 1:500 | $1 | Review | |
FXGM Cyprus 2011 |
BaFin, 130520 Banque de France, 74353 CNMV (Spain), 3321 CONSOB (Italy), 3567 CySEC, 161/11 FCA (UK), 593528 FSCA (South Africa), 47709 ESMA | 1:30 | $200 | Review | |
Spread Co United Kingdom 2006 |
FCA (UK), 446677 | 1:10 | $160 | Review | |
ATC Brokers Cayman Islands 2005 | Cayman Islands Monetary Authority 1448274 FCA (UK), 591361 | 1:200 | $5000 | Review | |
Bulbrokers Bulgaria 1998 | Bulgarian National Bank GR00173 CNVM (Romania), 51389 FCA (UK), 544872 FSC (Bulgaria), РГ-03-0009/14.07.2008 ESMA | 1:200 | $100 | Review | |
DeltaStock Bulgaria 1998 |
BaFin, 122477 CNVM (Romania) PJM01SFIM/400004 Czech National Bank, 215130 FCA (UK), 481581 FSA (Denmark), 6455 FSC (Bulgaria), RG-03-0146 ESMA | 1:200 | $100 | Review | |
LCG United Kingdom 1996 |
FCA (UK), 182110 Securities Commission of The Bahamas SIA-F194 | 1:200 | $10000 | Review | |
FxGrow Cyprus 2008 |
BaFin, WA37-K 5000-138982-2014/0001 Banque de France 74965 CNMV (Spain), 3755 CySEC, 214/13 FCA (UK), 628755 Finansinspektionen (Sweden), 14-10518 HCMC (Greece), 2703 ESMA | 1:100 | $100 | Review | |
Finotec United Kingdom 1998 |
FCA (UK), 470392 | 1:200 | $200 | Review | |
MARKETSX Cyprus 2006 |
AFM (Netherlands), 0900-5400 540 ASIC, 424008 BaFin, 122798 CySEC, 092/08 FCA (UK), 607305 FSA (Denmark), 6729 FSCA (South Africa), 46860 ESMA | 1:300 | $100 | Review | |
Velocity Trade New Zealand 1999 |
AFM (Netherlands), 29.05.2020 ASIC, 329813 FCA (UK), 497263 Financial Dispute Resolution (NZ) FM0279 FMA (New Zealand), FSP20003 FSCA (South Africa), 43295 ESMA | 1:200 | $1000 | Review | |
One Global Market United Kingdom 2016 |
FCA (UK), 769481 | 1:30 | $10000 | Review | |
TIOmarkets United Kingdom 2019 |
FCA (UK), 488900 FSA (St. Vincent & the Grenadines), 24986 | 1:200 | $1 | Review | |
LegacyFx Cyprus 2017 |
BaFin, 348194 CySEC, 344/17 FCA (UK), 797343 NBRB (Belarus) 193180778 Vanuatu Financial Services Commission, 14579 | 1:200 | $500 | Review | |
AMP Global Cyprus 2018 |
BaFin, 154811 CFTC/NFA, 0412490 CNMV (Spain), 4624 CONSOB (Italy), 4869 CySEC, 360/180 FCA (UK), 819311 ESMA | 1:50 | $100 | Review | |
FxView Cyprus 2018 |
BaFin, 157125 CNMV (Spain), 4892 CONSOB (Italy), 5151 CySEC, 367/18 FCA (UK), 850138 The Financial Commission, 06.07.2021 ESMA | 1:500 | $1 | Review | |
Skilling Cyprus 2016 |
CySEC, 357/18 FCA (UK), 810951 FSA (Seychelles), SD042 | 1:500 | $100 | Review | |
BlackBull Markets New Zealand 2014 |
FCA (UK), 9556804 FMA (New Zealand) FSP403326 FSA (Seychelles), BBG Limited | 1:500 | $200 | Review | |
USGFX Australia 2006 |
FCA (UK), 798776 FSCA (South Africa), 49854 | 1:500 | $100 | Review | |
INFINOX United Kingdom 2009 |
FCA (UK), 501057 FSC (Mauritius), GB20025832 | 1:30 | $100 | Review | |
Financial Spreads United Kingdom 2007 |
FCA (UK), 525164 | 1:200 | $1 | Review | |
ROinvesting Cyprus 2015 |
BaFin, 10146452 CNMV (Spain), 4075 CySEC, 269/15 FCA (UK), 731592 ESMA | 1:400 | $100 | Review | |
Forex24 Cyprus |
BaFin, 2017/1349943 CNMV (Spain), 4373 CONSOB (Italy), 4624 CySEC, 300/16 FCA (UK), 782501 ESMA | 1:400 | $2000 | Review | |
Trading 212 United Kingdom 2006 |
CySEC, 398/21 FCA (UK), 609146 FSC (Bulgaria), RG-03-0237 ESMA | 1:30 | $10 | Review | |
ForexVox United Kingdom 2019 |
FCA (UK), 586541 FSA (Seychelles), Securities Dealer License No SD028 | 1:500 | $1 | Review | |
LMAX Global United Kingdom 2008 |
CySEC, 310/16 FCA (UK), 509778 | 1:30 | $10000 | Review | |
AETOS Australia 2007 |
ASIC, 313016 FCA (UK), 592778 Vanuatu Financial Services Commission, 700450 | 1:200 | $250 | Review | |
VT Markets Austria 2016 |
ASIC, 428901 Cayman Islands Monetary Authority, 1383491 FCA (UK), 590299 | 1:500 | $200 | Review | |
Capital.com Australia 2017 |
ASIC, 513393 CySEC, 319/17 FCA (UK), 793714 NBRB (Belarus), 193225654 | 1:30 | $100 | Review | |
ATFX Cyprus 2015 |
Banque de France, 75626 CNMV (Spain), 4185 CNVM (Romania), 110536 CySEC, 285/15 FCA (UK), 760555 Finansinspektionen (Sweden) FT00096123 FSA (Sweden), NOR-149113 ESMA | 1:30 | $200 | Review | |
One Financial Markets United Arab Emirates 2007 |
FCA (UK), 466201 SFC (Hong Kong), BFZ621 The Financial Commission, 14.05.2020 | 1:30 | $250 | Review | |
Boston Merchant Financial Australia 1988 |
ASIC, 379035 FCA (UK), 563348 FFMS 1220 FSC (Bulgaria), RG-03-220 FSP (New Zealand), FSP328066 ESMA | 1:400 | $50 | Review | |
CrescoFX United Kingdom 2012 |
FCA (UK), 764353 | 1:500 | $10000 | Review | |
DF Markets United Kingdom 2010 |
FCA (UK), 534027 | 1:200 | $10 | Review | |
ICM Capital China 2009 |
FCA (UK), 520965 Jordan Securities Commission, 02.04.2020 | 1:30 | $200 | Review | |
Blackwell Global Bahamas 2010 |
CySEC, 159/11 FCA (UK), 590313 Securities Commission of The Bahamas, SIA-F215. TIN. 109226376 | 1:200 | $1 | Review | |
Price Markets United Kingdom 2003 |
FCA (UK), 3218125 | 1:50 | $5000 | Review | |
XGLOBAL Markets Cyprus 2012 |
BaFin, 132843 CNMV (Spain), 2013092102 CySEC, 171/12 FCA (UK), 602404 Vanuatu Financial Services Commission 15062 ESMA | 1:30 | $100 | Review | |
Hirose Financial UK Malaysia 2010 |
FCA (UK), 540244 | 1:30 | $1 | Review | |
PhillipCapital Australia 1975 |
ASIC, AFSL 246827 FCA (UK), 169760 | 1:200 | $200 | Review | |
Valutrades Seychelles 2013 |
FCA (UK), 586541 FSA (Seychelles), SD028 | 1:400 | $100 | Review | |
Equiti Global Markets Armenia 2007 | DMCC (Dubai) 31573 Dubai Gold and Commodities Exchange, 31573 FCA (UK), 528328 SCA (UAE), 607136 | 1:500 | $500 | Review | |
ADS Prime United Kingdom 2010 | Department of Economic Development (Dubai) 1190047 FCA (UK), 577453 SFC (Hong Kong), AXC847 | 1:500 | $200 | Review | |
VARIANSE United Kingdom 2015 |
FCA (UK), 802012 FSA (Labuan), MB/20/0051 FSC (Mauritius), C118023323 | 1:30 | $500 | Review | |
FCI Markets United Kingdom 2016 |
FCA (UK), 616985 | 1:100 | $500 | Review | |
AAATrade Cyprus 2013 |
BaFin, 45052 CySEC, 244/14 FCA (UK), 659844 | 1:200 | $1 | Review | |
FX Giants Cyprus 2015 |
FCA (UK), 585561 | 1:30 | $100 | Review | |
Land-FX China 2013 |
FCA (UK), 709866 FSP (New Zealand), FSP264385 | 1:500 | $300 | Review | |
Fortrade United Kingdom 2013 |
ASIC, 493520 CySEC, 385/20. FCA (UK), 609970 IIROC 20-0021 NBRB (Belarus), 193075810 | 1:100 | $500 | Review | |
Global Market Index China 2009 |
FCA (UK), 677530 Vanuatu Financial Services Commission, 14646 | 1:200 | $25 | Review | |
OneTrade United Kingdom 2011 |
BaFin, 126361 CNMV (Spain), 3058 FCA (UK), 537787 ESMA | 1:100 | $500 | Review | |
Trading.com United Kingdom 2018 |
FCA (UK), 705428 | 1:30 | $5 | Review |
Advantages and Disadvantages of Trading at FCA Regulated Brokers
Among many forex broker regulators in the world, regulators who are able and proven to protect traders' funds when a broker bankruptcy occurs is very rare. Competent customer protection is a testament to the quality of the FCA. There is an FSCS (Financial Services Compensation Scheme) that can provide funds of up to 85,000 pounds of the deposit amount per customer per broker.
Other advantages of trading with FCA-regulated brokers are: Having clear regulations, reputation, and infrastructure. As explained above, the UK is one of the countries with the most advanced financial activities in the world. The FCA is overseen directly by the Bank of England and works with the UK Financial Ombudsman to resolve disputes. Not only that, but the use of modern technology also supports the performance of this British regulator.
Although the FCA regulatory requirements are quite strict, there are still many forex brokers who can comply. In 2020, more than 90 forex brokers were carrying FCA regulations. With various forex brokers listed, traders can choose the trading conditions that best suit their needs.
Apart from the benefits above, FCA-regulated brokers also have disadvantages. One of the most visible is the use of leverage. With a maximum leverage of 30: 1, FCA-regulated brokers look less tempting than offshore brokers that provide leverage of up to hundreds. Also, it should be noted that spot forex contracts are not included in activities that are protected by FCA regulations.
FAQ
What does FCA regulated mean?
Being regulated by FCA (Financial Conduct Authority) means operating under the standards of the United Kingdom's financial regulator. FCA-regulated brokers are known to have clear regulations, reputation, and infrastructure. This does not come as a surprise as the UK is one of the countries with the most advanced financial activities in the world. The FCA is overseen directly by the Bank of England and works with the UK Financial Ombudsman to resolve disputes.
What are the FCA rules?
The protection of customer funds is FCA's main focus, leading them to enforce certain protocols that prevent its brokers from committing any financial frauds. All FCA regulated Forex brokers should adhere to the following rules:
- Keeping the client funds in segregated accounts away from their company accounts, and should not use traders' money for any other purposes.
- Maintaining at least £1 million in operating capital, which increases according to the number of traders and the trading capital.
- Ensuring that all withdrawals are processed instantaneously and that the company can meet all financial obligations without fail.
- Submitting yearly audit reports and periodic financial statements to verify that all the facts provided to the FCA are accurately represented.
- Protecting the clients under the FSCS (Financial Services Compensation Scheme) that is aimed to offer protection for traders against broker-related issues by providing a guarantee of up to £50,000 in compensation.
What is the main purpose of FCA?
The FCA oversees the process of regulating financial companies in conjunction with the Bank of England and the Prudential Regulatory Authority. The split of financial industry regulation into different entities helps to streamline the entire process of regulation and ensuring integrity and transparency of the UK's financial markets.
What are the powers of FCA?
Although FCA does not personally get involved in any conflict between a broker and its clients, the regulatory agency will investigate any instances of fraud or consumer abuse. The FCA will revoke a company's licenses and issue hefty fines to if it is found guilty, to the extent of permanently ban the broker from operating in the UK.
To help them conducting their tasks, the FCA has an excellent online database that provides a vast amount of information on regulated brokers, new scams, financial malpractices, and other relevant data. It has been made clear that the agency has been granted immense powers by the UK Government to keep financial businesses in line with the rules and framework.
If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.