Best FCA Regulated Forex Brokers

logomark Filippo Ucchino calendar Last Updated: January 2022 timer 12 min read
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Choosing between any selection of forex brokers is never easy. One of the most important things though, is to make sure you have the best and most trusted regulatory bodies in place with the broker you choose. The FCA is one such top regulatory body.

For that reason, we can help you choose from some of the very best FCA forex brokers right here.

With this guide, not only can you be sure of a broker that provides some of the best forex trading services around, but one with a long standing reputation you can trust. You can also gather a bit more information about exactly what the FCA is, and how they operate to keep you safe in trading forex.

Table of contents

What is the FCA?

The FCA, or Financial Conduct Authority are the financial regulatory body of the UK. Founded in 2012, this independent regulator has fast become one of the most trusted names in the financial regulation field.

They have garnered this reputation for excellence through their positive, protective attitude to traders and the transparency with which they operate in a top-tier nation and region. If a forex broker wants to provide services in the UK, they must be FCA registered, although certain exceptions where forex brokers are already registered with other very respected bodies such as CySEC, or under ESMA regulation can apply.

Top 10 best FCA Regulated Forex Brokers

Here are some of the best FCA regulated brokers we have found for you to choose from:

The first broker to feature as one of our top FCA regulated broker choices is FxPro. They are instantly recognizable and have been around in the industry for a very long time, steadily building up a highly trusted reputation and trader base since 2006. They are based in London with operations globally, and regulated by the FCA (#509956).

They have been hugely successful and widely acclaimed within the sector, picking up more than 60 awards in this time. They remain popular and competitive among both new and experienced traders with a very competitive minimum deposit starting from just £100 and a great value spread that begins from 0 pips. They also offer spread betting through their own proprietary trading platform FxPro Edge and facilitate other types of trading through the respected MT4 trading platform with fixed spreads also available.

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75.54% of retail investor accounts lose money

Pepperstone regularly features as a top broker on many of our listings, and again here as a top FCA regulated broker. Pepperstone is an Australian broker who operates and is regulated in many areas worldwide. This includes the UK where they are FCA regulated (#684312). They too are a hugely successful, award-winning broker, and a very popular choice among all levels of trader.

You can get started trading with Pepperstone for a minimum deposit of £200 through either their standard, or Razor account types and once you are set up you will be glad to find a very good value spread that starts from the bottom, 0 pips. There is something for everyone with the broker also incorporating many great social trading features and a top class active trader program to help keep your trading costs as low as possible.

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74-89% of retail investor accounts lose money when trading CFDs

Next on our listing of the very best FCA regulated brokers in the sector is XTB. They bring to the table a wealth of experience having been around the industry since 2002. They were originally founded in Poland but now operate on a global scale and are well-regulated by the FCA (522157). A big attraction to traders with XTB is the fact you can open an account with no minimum deposit.

Once you are inside you will find a huge range of markets to trade within. There are more than 2,100 assets available from the XTB trading catalogue. This is massive even for a top forex broker with 48 being forex pairs starting at an excellent spread of just 0.1 pips. XTB also has one of the wider choices in crypto assets, with 25 markets being available. All trading is through the broker’s own proprietary trading platform.

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73% of retail investor accounts lose money

Next on our comprehensive listing of the top FCA regulated brokers is Admiral Markets. They are well regulated by under registration number 595450 and are a popular market maker broker among a large segment of forex traders both new and experienced. A big part of the appeal from Admiral Markets stems from the great range of over 4,000 assets they make available for trading. This range includes bonds, ETFs, crypto, and more markets.

The broker retains great appeal among newer traders thanks in part to a very low minimum deposit of just $100 and a really competitive spread across the board that starts from 0 pips on forex. Added to this is an extensive educational section provided that can really help you develop your trading knowledge particularly on techniques such as hedging and scalping which you could attempt across the broad range of CFD markets also available.

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76% of retail investor accounts lose money

IG Markets is the next broker to be considered one of our top FCA regulated brokers, and they have been around for longer than most. A long and storied history in the industry, they were founded in 1974 and are headquartered in London. They are well known as one of the most transparent brokers among the trading community and are FCA regulated under #195355. They are another broker that offers a vast range of market choices to all traders with more than 16,000 assets available.

Furthering this esteemed brokers popularity is the large range of forex currency pairs, more than 90 available, and starting from an excellent value 0.6 pips to trade. The minimum deposit of £250 to trade is still within reach to most, and the opportunity to engage in spread betting through their dedicated and long standing account is another positive point for potential traders.

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76% of retail CFD accounts lose money

eToro are one of the most well-known social trading brokers in the world and also make our listing. They are well regulated by the FCA (#583263) and UK traders can get started trading with a deposit from $10 on a trading platform that is renowned as great for new traders and has the trusted backing of the global eToro brand.

Traders have the benefit of trying an unlimited demo account first before getting started on real trading where the depth of social trading features is beyond anything else on offer. Since eToro only supports a USD base currency, a small conversion fee on GBP deposits applies. This can be offset if you join the eToro club program that has a number of benefits which help reduce trading costs. Many also take the chance to trade real cryptos and stocks on eToro, an opportunity that is available for the very low starting cost of $10.

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68% of retail investor accounts lose money

CMC Markets are another broker with a long and trusted reputation in the sector to have made our top FCA regulated broker collection. They are based in London and have been operating since 1989 on the international stage. During this time, they have also collected countless awards. Regulated under #173730, they are one of the few brokers to have no minimum deposit in place. This does well in attracting a huge number of traders, ideal for beginners.

CMC Markets are well known as a top choice for trading forex, and the extremely low spread starting at 0.3 pips and commission-free is testament to that position. Another very appealing point here to a range of traders is the fact that CMC Markets offer cash rebates to reward regular trading. They are also great for the new traders, providing extensive educational support with all trading through the trusted MT4 trading platform.

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80% of retail CFD accounts lose money

FXTM have been around since 2011 and are another broker comprehensively regulated by the FCA (#777911). They have built up a loyal and ever-expanding following of traders and now offer services in all parts of the world. They enjoy particular popularity among African traders to whom they cater very well. They offer a total of three account types: Advantage, Advantage Plus and Micro account.

Many new traders in particular are rightly attracted by the availability of a great value Micro account with just a £10 minimum deposit. Spreads to represent excellent value with FXTM. These start from as low as 0 pips and when combined with the benefits from the broker loyalty program, work to keep trading costs at a very low point.

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81% of retail investor accounts lose money

Next on our broker listing is ETX Capital. They are extremely well-regarded as one of the main brokers in the UK when it comes to CFDs and spread betting with a massive amount of experience, more than 50 years to their credit. They were founded in 1965 in London and are now FCA regulated (#124721). They have progressed well with the times and still manage to attract a huge and diverse range of traders.

As an ETX Capital trader you can start from a minimum deposit of just £100 which represents great value and access a spread from just 0.6 pips trading through MT4 or the brokers own platform. Added to this ETX Capital provides for a well developed education section to assist in your development. With these features it is clear to see how they have remained at the top of the industry for so many years.

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79.60% of retail CFD accounts lose money

Last but not least as a top FCA regulated broker (#577453), is ADS Securities London. They have grown to become a trusted global presence in the industry and are particularly well-regarded in the MENA region where they have an office presence in Abu Dhabi catering to traders there.

ADS offers a huge range of CFDs to choose from, all of which you can trade through the well-respected MT4 trading platform, or the brokers own proprietary platform if you wish. The minimum deposit also starts at an excellent and accessible point at only £100 so the broker has something to offer all traders. Furthermore, their dedicated stockbroking account also helps appeal to trades in these markets. This assists ADS in bringing together a diverse cross-section of traders that cover the entire sector and keep the broker in a top position within the industry worldwide.

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74-89% of retail CFD accounts lose money

How the FCA works

Similar to other top financial regulatory bodies, the FCA works to provide the following services within the financial sector:

  • Promoting the growth of the UK market
  • Financial firms oversight
  • Customer protection

All of the above roles are critical to the smooth running of the financial sector in the UK and in gaining the trust of the traders within that sector. As an independent body, the FCA have broad powers of discretion particularly on the brokers that they allow to operate in the United Kingdom markets, therefore, they will often work in collaboration with the likes of ESMA in allowing certain brokers to operate within the UK, and vice versa on the understanding that these brokers will be compliant with FCA regulation. This collaboration provides a degree of positive flexibility to forex traders, particularly after Brexit.

Characteristics and benefits of FCA

When it comes to the more exact rules and regulations put in place by the FCA, these can be quite stringent at least in terms of leverage which is limited to a 30:1 maximum as it also is by CySEC for retail customers. This can be increased but only for those considered professional traders. A professional trader, after satisfying certain criteria, can access leverage of up to 400:1.

Unlike some regulatory bodies, CFDs and some other derivative products are deemed legal and OK to trade as are cryptocurrencies. Furthermore, FCA is one of the few regulatory bodies that permit spread betting.

Still traders are kept very well protected with negative balance protection and segregated accounts holding both mandatory. The ICF (Investor Compensation Fund) provided by the FCA also protects investors for amounts up to £85.000 in the case of insolvency or bankruptcy.

Prohibitions with FCA

There are a couple of things that are certainly not allowed when you are trading under FCA regulation from a broker perspective, and this includes enticing traders through any kind of bonus. All bonus types, including welcome and deposit bonuses are not permitted. Loyalty or active trading programs that can help reduce your cost of trading though, are allowed.

Differences between FCA Regulated and FCA Licensed Brokers

This difference is something to take note of under FCA regulation. FCA regulated brokers are those that go through the entire FCA registration process for brokers to offer their services within the UK. This can be a long and costly process.

An FCA licensed broker on the other hand is one that has not gone through this process, but is regulated in another area or by another authority and is recognized and approved for trading in the UK under license from the FCA. A perfect example of this is the operation of ESMA regulated forex brokers from the EU that are allowed to operate in the UK.

How to check if a broker is FCA regulated

Double checking the FCA regulation of your chosen broker could not be easier. Simply, head over to the FCA official website as a first step. When you are there, you can easily search the FCA register using the business name of your broker. This business name sometimes differs from the trading name and can often be found at the bottom of your broker homepage.

How FCA intervene in case of financial abuse?

The FCA does have and use broad discretionary powers to issue fines and bans to brokers who do not follow the regulations set down by the body. They act particularly in the interest of traders and as recently as March 2020 moved to ban short selling of stocks in more than 80 companies to protect the economy during the coronavirus pandemic.

How FCA can help you

If you think a broker is not acting in a legal way,or that they have breached FCA regulation in any way, you can contact FCA going on their FCA Official Website to follow up and investigate the matter.

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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