FCA Regulated Forex Brokers List – (April 2022 Update)

The Financial Conduct Authority (FCA) is the main regulatory agency for the Forex Brokers that are based in the UK. Choosing a UK regulated FCA forex broker is a smart decision for any United Kingdom based fx trader.

Top FCA Regulated Forex Brokers 2022 

Best forex brokers regulated by the FCA:

  • Pepperstone.com – Best FCA Regulated Broker Overall
  • eToro  – Top UK Social Trading Platform
  • XTB – Best Broker with Stocks/ETF Funds with Zero Commission
  • AvaTrade – Fixed Forex Spreads & Multiple Platforms
  • Capital.com – Best for Ease of Use

The brokers in below comparison table represent the best FCA Regulated Forex Brokers.

Broker's NameMore informationTrust ScoreFCA reference nbr.Minimum depositTrading PlatformsBroker TypeOur Review

Pepperstone

76.5% of CFD retail investor accounts lose money.

99%684312 £200cTrader,
MT4.
MT5
ECNReview

eToro

68% of CFD retail investor accounts lose money.

99%583263 £50CopyTrader™ MM Review

XTB

73% of CFD retail investor accounts lose money.

98% 522157£5xStationSTPReview

Plus500

77% of CFD retail investor accounts lose.

96%509909£100WebtraderMMReview

AvaTrade


71% of CFD retail accounts lose.

96%504072 £100MT4,
AvaOptions,
AvaGO
STPReview

CITYINDEX

67% of CFD retail accounts lose.

85%113942£100MT4,
MT5,
STP

HYCM

72% of CFD retail accounts lose.

85%186171£200MT4,
MT5,
STP

Forex.com

73% of CFD retail accounts lose.

70%190864£100MT4,
MT5,
STP

IG

76% of CFD retail accounts lose.

70% 195355£100MT4, STP, MM

CMC MARKETS

73% of CFD retail accounts lose.

70%173730£1000MT4,MM

SAXO Bank

71% of CFD retail accounts lose.

70%551422£10.000SaxoTrader GO,
SaxoTrader PRO
STP

ActivTrades


76% of CFD retail accounts lose.

70%434413£500MT4,
MT5,
STP

Pepperstone – Best Overall FCA Regulated Broker with MT4/MT5/cTrader

Pepperstone is one of the most trusted brokerages available on the UK market.

Pepperstone is considered safe. It is regulated by several Tier 1 financial regulators. Broker is headquartered in Melbourne Australia with offices in London. Pepperstone offers an access to a vast amount of financial instruments including 70+ Currency pairs, 100’s of CFDs on Shares, Commodities, Indices and Cryptocurrencies. It is an excellent choice for both beginners and advanced traders.

PROS

  • Ultra Tight Forex Spreads
  • Top platforms on the market: MetaTrader MT4, MT5, cTrader, WebTrader
  • Heavily regulated by FCA UK, ASIC Australia, BaFin Germany etc
  • Offices in London UK
  • GBP British Pound  is account currency
  • Minimum deposit $200 for UK traders
  • 60+ currency pairs to choose from

CONS

  • US clients are not accepted

Visit Pepperstone.com

Pepperstone review


eToro – Top Rated Copy Trading Platform

eToro has been in the brokerage business since 2008 and they claim to have over a million traders. eToro broker is considered very safe. It is regulated by Tier 1 regulators in the UK and Australia and several Tier 2 regulators.  You can try  free demo account with $10,000 virtual money.  In the recent years eToro has introduced stocks trading with zero commision.

Most clients choose eToro for their unique social copy trading platform that allows them to automatically copy all trades of successful investors of their choice. Broker provides an access to over 2000 financial markets and instruments including foreign currency pairs, shares, cryptocurrencies, indices, commodities and ETF Exchange Traded Funds.

eToro clients can access eToro’s safe crypto wallet,

PROS

  • Million active traders from all around the world
  • Minimum deposit $10 for UK traders
  • CopyTrader feature that allows you to automatically copy successful traders
  • Buy/Sell Real Stocks With ZERO Commission
  • Proprietary crypto wallet
  • Currency pairs, Cryptocurrencies, 1600 Shares
  • Excellent reputation among traders
  • 45+ currency pairs 
  • Competitive spreads starting from 1 Pips

CONS

  • USD Dollar as a base account currency
  • US clients are allowed to trade Bitcoin only

Visit eToro.com

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Read eToro review


XTB – Multiple Awarded CFD Broker

XTB broker is authorised and regulated by the UK Financial Conduct Authority, the IFSC in Belize, the CYSEC, KNF in Poland and the Comisión Nacional del Mercado de Valores in Spain. XTB is a public company, their shares are listed on Warsaw Stock Exchange. Although it is headquartered in Poland, XTB is very client oriented and therefore popular in Germany and other countries of continental Europe. In the recent years,  XTB has received a regulatory approval in the UK.

We recommend you to give it a try! 

PROS

  • Awarded as the Best CFD Trading platform of 2018 / 2019 / 2020
  • xStation trading platform is very user friendly
  • Strong focus on high quality education for clients
  • Fast trade execution
  • Buy/Sell Real Stocks With ZERO Commission
  • Forex trading, CFD Cryptocurrencies, Real Stocks
  • Minimum deposit $5 
  • 46 currency pairs to choose from available
  • Competitive fees starting from 0,5 Pips

CONS

  • US clients not accepted
  • Higher fees for stock CFDs

Visit XTB.com

72% of CFD retail investor accounts lose money.

XTB review


What is FCA Financial Conduct Authority

Image source: fca.org.uk

The FCA (former FSA) stands for the “Financial Conduct Authority“, representing an important independent financial regulatory body in the United Kingdom. It is an official financial markets regulatory agency in the UK. It is based in London, UK and its main responsibility is to regulate and examine the operation of financial institutions incl. brokerages.

With that in mind, the main aim is to ensure that the code of conduct is fair and that all the firms in the UK operate accordingly. It is considered to be one of the most serious regulators not only in Europe but also in the World.

In case any licensed forex broker goes bancrupt, retail traders shouldn’t worry about their invested money since there is a compensation scheme in place called FSCS Financial Services Compensation Scheme that protects retail clients up to £50,000. Basically it covers 100% up to  £30,000 and 90% for the next £20,000.

You can file a claim to FSCS and in case your request is successful you will be compensated up to the limit that applies.

Many regulated brokers have been fined by the FCA for fraudulent activities. Watchdog is very strict, sometimes even more strict than other forex regulatory agencies around the globe and brokers know it!

How to check if a broker is regulated

Are you in doubt whether your chosen forex broker is on the list of  FCA regulated brokers or not ?

The easy way how to check FCA regulation:

  1. First of all, head to their website: https://register.fca.org.uk/
  2. Type your brokerage name into “SEARCH by company, person product” field
  3. In case you cannot find anything, check broker’s website as many of them have a business name that is different to their name on the website.
  4. Didn’t find anything ? You might have been scammed.  Just contact the FCA (see below details)
  5. Also beware of the “clone companies” that are a big problem nowadays and clear sign of a forex scam. In fact they piggyback on other successful brands and mimick them. They seem to be FCA forex brokers but in fact they are not. In fact they piggyback on other successful brands and mimick them.

How to contact regulator

Do you want to file a complaint or are you being scammed? You can contact the FCA by calling them from Monday until Friday 8AM to 6PM via 0800 111 6768 (freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad.

Understanding how the FCA (former FSA) operates

It’s critical to note that the FCA is entitled to revoke licenses if the situation asks for it, as well as oversee the materials created for marketing and promotional purposes, to ensure their legitimacy. In addition to that, the FCA is involved in auditing company financials. This is essential in order to establish the reliability index of each company. This way, consumers can be confident that they get a decent deal whenever they collaborate with financial companies.

So, when it comes to the financial providers that work under the FCA, the obvious conclusion is that these firms are legitimate, and they address the needs of the client, not the other way around.

With that in mind, you might wonder whether the same high standards apply in the regulation of financial markets. Yes, according to the law, all the trading forex brokerages that function in the UK must get a license from the FCA.

Aside from this, the FCA must provide them a regulation. This is primarily why one might think that the FCA regulated forex brokers are reliable. The code of conduct entails a wide range of specifications the brokers must abide by. The code of conduct is the result of the prescription by the Financial Services Act of 2012.

When the situation asks of it, the FCA will resort to these laws, in order to protect the rights of the consumer.

Does the FCA Work for the Benefit of the Traders?

Essentially, the FCA actually oversees the way in which financial companies and best spread betting brokers in UK and best cfd trading platforms in UK  work with their customers. Hence, it could be said that the FCA actually works in the benefit of the consumer, focusing on promoting healthy competition in the marketplace.

Nevertheless, considering that the FCA is actually a regulatory body, this means it doesn’t facilitate help or mediation services when it comes to issues between the brokerages that are FCA regulated and their customers.

In spite of this, it is highly advisable to check whether a broker is regulated by the FCA, specifically if you want to assess the authenticity or reliability of a regulation. Another idea would be checking with the FCA warning list.

The Bottom Line

On a final note, even if some of the most renowned FCA regulated forex companies are based abroad, the majority have been regulated by other bodies, as well (ASIC regulated forex brokers). As the trading industry develops, it is critical to develop a critical spirit in this respect to assess the reliability of a broker before funding an investment.