9  Best FCA Regulated Forex Brokers

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.

How to compare FCA-regulated brokers

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 payment, 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?

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.

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 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.

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 enhanced trust through enforcing market discipline, adjusting provider behaviour to prevent harm from happening to customers, and assisting when things go wrong.

A Forex broker that is regulated by the FCA is required to consider the interest 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 consumers can expect from the FCA

In principle, a consumer should expect to get protection from the regulation and the enforcement of 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 knowledgable 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.

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Broker	Broker Score	Min. Deposit	FCA License	Regulators	Platforms	Cost of Trading	EURUSD (Best)	GBPUSD (Best)	USDJPY (Best)	Trading Commission	No. of FX Pairs	Compare
	4.69 /5 Read Review	USD 0	195355		MT4, L2 Dealer, ProRealTime	USD 6	0.85 pips	1.40 pips	0.94 pips	Fees Included in Spread	80
	4.68 /5 Read Review	USD 100	607305		MT4, MT5, markets.com	USD 7	0.60 pips	1.20 pips	0.70 pips	Fees Included in Spread	56
	4.61 /5 Read Review	USD 0	684312		MT4, MT5, cTrader, TradingView	USD 10	0.10 pips	0.40 pips	0.30 pips	6 USD / lot	90
	4.58 /5 Read Review	USD 100	717270		MT4, MT5	USD 6	0.10 pips	0.30 pips	0.10 pips	6 USD/lot	62
	4.53 /5 Read Review	AUD 100	921296		MT4, MT5, TradingView	USD 10	0.06 pips	0.73 pips	0.23 pips	7 USD / lot	55
	4.53 /5 Read Review	USD 0	801701		MT4, MT5, HFM Trading App	USD 10	0.10 pips	0.50 pips	0.30 pips	6 USD / lot - Zero Account	53
	4.49 /5 Read Review	USD 0	522157		xStation5	USD 7	0.70 pips	2.20 pips	1.40 pips	Fees Included in Spread	57
	4.45 /5 Read Review	USD 0	801701		MT4, MT5	USD 6	1.30 pips	1.80 pips	1.90 pips	6 USD / lot - ZERO Spread Account	53
	4.44 /5 Read Review	USD 0	509746		MT4	USD 10	0.00 pips	0.10 pips	0.10 pips	7 USD / lot - PRO account	70
	4.43 /5 Read Review	USD 0	629628		MT4, MT5, ThinkTrader	USD 11	0.00 pips	0.00 pips	0.00 pips	7 USD / lot - ThinkZero Account	46
	4.39 /5 Read Review	USD 100	509956		MT4, MT5, cTrader, FxProEdge	USD 14	0.40 pips	1.00 pips	0.60 pips	9 USD / lot	70
	4.38 /5 Read Review	USD 50	217689		MT4, TradeStation, TradingView	USD 6	0.74 pips	1.05 pips	1.23 pips	None	43
	4.33 /5 Read Review	USD 100	502635		MT4, MT5	USD 12	0.20 pips	0.50 pips	0.50 pips	Fees Included in Spread	130
	4.30 /5 Read Review	ZAR 1000	525164		MT4, Cloud Trade	USD 6	0.60 pips	0.80 pips	1.00 pips	Fees Included in Spread	32
	4.28 /5 Read Review	USD 25	595450		MT4, MT5, MT Supreme	USD 8	0.10 pips	0.60 pips	0.30 pips	1.8 - 3 USD per lot	82
	4.28 /5 Read Review	USD 100	609970		MT4	USD 20	2.00 pips	2.00 pips	2.00 pips	Fees Included in Spread	50
	4.26 /5 Read Review	USD 0	190941		Spreadex, TradingView	USD 6	0.60 pips	0.90 pips	0.70 pips	Fees Included in Spread	69
	4.25 /5 Read Review	USD 5	586541		MT4, MT5	USD 7	0.10 pips	0.40 pips	0.10 pips	6 USD / Lot	80
	4.12 /5 Read Review	USD 100	186171		MT4, MT5	USD 12	0.10 pips	0.40 pips	0.20 pips	8 USD / lot - Raw Account	70
	3.61 /5 Read Review	USD 0			MT4, MT5, cTrader	USD 13	1.30 pips	1.80 pips	1.30 pips	7 USD / lot - Zero Account	48
	3.57 /5 Read Review	USD 10	609146		trading212	USD 24	2.40 pips	4.00 pips	2.80 pips	Fees Included in Spread	180
	3.52 /5 Read Review	USD 500	586466		MT4, MT5	USD 7	0.20 pips	0.80 pips	0.40 pips	5 USD / lot	42

Which is the Best FCA-Regulated Broker?

HFM is the best FCA-regulated broker in Zambia. HFM offers fast STP execution and four different accounts on the MT4 and MT5 platforms. The minimum deposit on the Micro Account is only 70 ZAR, and spreads start at 1 pip on the EUR/USD.

Key achievements of the FCA

The FCA achievements taking into consideration 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 being set up, there was no mechanism in the UK to keep the retail investor safe from companies that promoted complicated financial products that have a high-risk financial impact on the consumer.

The immediate achievement of the FCA 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 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

Commenced 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 in an arbitrator role 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 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 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 into it, and the appointment of the Chief Executive to execute on 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 against new threats.

Risk & Strategy Committee evaluates the risks that are posed by the financial organisations on the market and are 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 actions 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 this brings information to the government so that laws can be written, and government oversight is present.

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 maintain 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 has the client’s best interest in mind when doing business selling clients 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 State of the Market 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.