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The Financial Conduct Authority (FCA) is the UK’s financial regulator and is renowned as the most stringent regulator of Forex brokers in the world. The FCA’s licencing fees and operating capital requirements are much higher than other tier one regulators and it has a long-standing reputation for guaranteeing trader security. Brokers regulated by the FCA must have segregated bank accounts for client funds, a minimum of 1 million GBP in operating capital and instantaneous withdrawal processing. The FCA also provides a compensation scheme of up to 50,000 GBP to protect traders against broker-related matters.

To test these brokers, we signed up for a live account and verified their FCA license, platform selection, trading desk type, and minimum deposit requirements. Further testing focused on the trading conditions, the total cost of trading, withdrawal fee requirements and additional fee structures so traders can keep trading costs as low as possible. These are the best FCA-regulated brokers for 2021, according to our testing and our research.

English

The best FCA regulated Forex brokers for 2021

Last updated on 10 May 2021
Updated 10 May 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
Blackstone Futures
Min. Deposit
ZAR 1000
4.484.48
Min. Spread
0.60 pips
Fx Pairs
32
Deposit & Withdrawal Methods
Overall Rating
11110.54.48/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.6 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 and CloudTrade platforms supported. Blackstone Futures is regulated by the FSCA - FSP:49846
Show Details

Blackstone Futures is an established FSCA-regulated CFD broker based in Johannesburg, offering clients trading in commodities, cryptocurrencies, equities, energies, Forex, futures, indices, and metals. Blackstone offers ZAR and USD accounts on MT4 and the proprietary CloudTrade platforms – both with STP execution.

While trading costs are low, spreads are tight, minimum deposits are reasonable, and maximum leverage is 400:1, traders are limited by the small selection of FX pairs. Beginner traders are well-catered with outstanding educational support for beginners, weekly webinars, and in-person Masterclass sessions around South Africa.  

 

Pros
  • South African broker; FSCA regulated (FSP 49846) since 2009
  • Fast STP trade execution and negative balance protection for all traders
  • Tight spreads starting at 0.6 pips and no commission
  • ZAR accounts available; trade in Rand with fast deposits and withdrawals
Cons
  • Limited trading platform choice: MT4 and CloudTrade only.
Read More About Blackstone Futures
2
FXTM
Min. Deposit
USD 10
4.374.37
Min. Spread
0.10 pips
Fx Pairs
59
Deposit & Withdrawal Methods
Overall Rating
11110.54.37/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
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FXTM is an established and award-winning market maker/ECN broker offering trading on Forex, commodities, metals, stocks, and indices. Although FXTM offers more account types than most brokers, trading conditions on its entry-level accounts are poor, with spreads starting at 1.5 pips on the EUR/USD.  Trading costs improve on its ECN accounts, with spreads starting at 0.1 pips on the EUR/USD in exchange for a reasonable commission, but a high minimum deposit of 500 USD.  Furthermore, FXTM charges high withdrawal fees. 

FXTM excels in its education and market analysis sections, with a good overview of Forex trading in its guides and tutorials, webinars, ebooks, trading glossary, and videos. Its daily market analysis will help beginners understand the real-world implications of news events on the Forex market and where trading opportunities lie. Lastly, with its unique copy trading platform, FXTM is one of the best brokers for beginner traders operating in South Africa.

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
Cons
  • Expensive withdrawals
Read More About FXTM
3
HotForex
Min. Deposit
ZAR 70
4.494.49
Min. Spread
0 pips
Fx Pairs
51
Deposit & Withdrawal Methods
Overall Rating
11110.54.49/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
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HotForex is a global CFD broker with FSCA regulation offering a variety of trading products including Forex, commodities, indices, shares and crypto. Trading conditions are unusually good on the 70 ZAR (5 USD) introductory account, with fast market execution and competitive spreads. Experienced traders will be interested in HotForex’s professional account with EUR/USD spreads starting at 0 pips pips and a 6 USD commission.

HotForex supports both the MT4 and MT5 platforms and provides 18 trading tools to further assist traders. Unfortunately, access to better trading tools like Autochartist, which other brokers offer as a free service, requires an account balance of 6500 ZAR – well above the required minimum deposit.

Furthermore, Hotforex does not charge any withdrawal or deposit fees, allows hedging, scalping, and copy trading, and offers an excellent selection of educational and market analysis materials to get new traders started. 

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
Read More About HotForex
4
FxPro
Min. Deposit
USD 100
4.244.24
Min. Spread
0.60 pips
Fx Pairs
70+
Deposit & Withdrawal Methods
Overall Rating
11110.54.24/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA
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One of the most respected Forex brokers in the industry, FxPro is well regulated and has over 870,000 client accounts in 173 countries. FxPro offers a no dealing desk execution model and trading on six asset classes, including Forex, shares, indices, futures, metals, and energies.

With full support for the MT4, MT5, C-Trader, and its own proprietary platform, FxPro offers comparatively poor trading conditions on two of its accounts, with minimum deposits starting at 100 USD, and average spreads as wide as 1.84 pips on the EUR/USD.  It makes up for it with competitive trading costs on its C-Trader account, with average spreads of 0.31 pips on the EUR/USD and a low commission of 4.5 USD round turn per lot.   One drawback for beginner traders considering FxPro is its limited selection of educational and market analysis materials.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
Read More About FxPro
5
IronFX
Min. Deposit
USD 50
4.194.19
Min. Spread
0 pips
Fx Pairs
85
Deposit & Withdrawal Methods
Overall Rating
11110.54.19/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.2 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. Only MT4 platform supported. IronFX is regulated by CySEC, FCA, ASIC, and the FSCA - FSP:45276.
Show Details

IronFX, a brand of Notesco, was founded in 2010 with the goal of creating a trading company bringing together customized trading functionality, the widest suite of trading products, the best pricing, execution and liquidity.

Regulated incomparably better than most brokerages including the ASIC, the FCA, CySEC and the FSCA, and offices in over 50 countries around the world and 30 languages spoken by customer service, IronFX has taken their product offering to a global audience.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
Cons
  • Expensive withdrawals
Read More About IronFX
6
Forex.com
Min. Deposit
USD 100
4.494.49
Min. Spread
0.80 pips
Fx Pairs
80+
Deposit & Withdrawal Methods
Overall Rating
11110.54.49/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4 & MT5 platforms supported. Gain Capital is regulated by the FCA, ASIC, MAS, and CIMA.
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Forex.com was founded in 2001 and is part of the NYSE-listed GAIN Capital Group. Trading conditions are competitive with other large market makers and regulation is excellent, as you would expect from a publicly listed company.

A huge range of assets is available to trade, including 80+ Forex pairs and 5 cryptocurrencies. Platform choice is good, with Forex.com’s proprietary platform offered alongside MT4 and MT5. For beginners, education and market analysis are best in class, though the demo account does expire after 30 days of use.

Pros
  • Well regulated
  • Wide range of assets
  • Excellent education
Cons
  • Expensive withdrawals
  • Limited demo account
Read More About Forex.com
7
Admiral Markets
Min. Deposit
USD 25
4.244.24
Min. Spread
0.10 pips
Fx Pairs
40+
Deposit & Withdrawal Methods
Overall Rating
11110.54.24/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, and the FCA.
Show Details

Founded in 2001, Admiral Markets is renowned for its excellent education, industry leadership and wide range of tradeable instruments. Its industry leadership extends to platform support, where it has teamed up with MetaTrader to create Supreme Editions for MT4 and MT5, adding a range of practical tools to enhance the base platforms. 

All Admiral Markets accounts feature market execution, low minimum deposits and competitive spreads – and the company has one of the best cryptocurrency offerings on the market, with 30+ crypto pairs and cross pairs to trade; in addition, Admiral Markets have not just one, but two complete Forex courses for beginners.

A global presence, a progressive approach to knowledge sharing and competitive trading conditions have attracted both beginner and experienced traders to the Admiral Markets brand.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
Cons
  • Expensive withdrawals
Read More About Admiral Markets
8
XTB
Min. Deposit
USD 5
4.144.14
Min. Spread
0.80 pips
Fx Pairs
49
Deposit & Withdrawal Methods
Overall Rating
11110.54.14/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.50 pips on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC
Show Details

Founded in 2002, XTB is a Polish market-maker with tight spreads on a single account and a focus on providing top-class education and market analysis for its clients. Regulated by the FCA, CySEC and the Belize IFSC, XTB offers negative balance protection for all clients and high-speed trading on over 1500 instruments.

XTB recently dropped support for MT4 to focus on its award-winning proprietary platform, xStation 5, which features more modern elements and a more intuitive design than the MetaTrader platforms.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
Read More About XTB
9
Capital Index
Min. Deposit
GBP 100
3.943.94
Min. Spread
0 pips
Fx Pairs
68
Deposit & Withdrawal Methods
Overall Rating
1110.503.94/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform supported. Capital Index is regulated by the FCA.
Show Details

Capital Index is a pure-STP broker, founded in London in 2014 by industry veterans who wanted to create a broker for serious traders. It quickly started winning awards, including STP/ECN broker of the year, and has grown substantially ever since.

Capital Index has taken a simple approach, with decent spreads across three account types, FCA regulation and MT4 support rounding out a solid offering aimed at experienced traders looking for a no-frills approach.

Pros
  • Tight spreads
  • Fast and free withdrawals
  • Wide range of assets
Cons
  • Limited platform choice
  • Limited education
  • No swap-free account option
Read More About Capital Index
10
MarketsX
Min. Deposit
ZAR 2500
4.394.39
Min. Spread
0.60 pips
Fx Pairs
50+
Deposit & Withdrawal Methods
Overall Rating
11110.54.39/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.
Show Details

Marketsx is a premium trading platform. It’s operated by Markets.com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets. Clients in the UK can also use spread bets on applicable instruments.

The proprietary Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

Owned by Tradetech Markets (South Africa) Pty Ltd., a subsidiary of Playtech PLC, Markets.com (South Africa) SA is one of the best-recognised Forex brands.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
Read More About MarketsX

How to compare FCA regulated brokers

FCA is one of the most respected financial regulatory agencies in the world. They are 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. 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. 


These are best FCA regulated brokers for 2021

    Why Trade with an FCA Regulated Forex Broker?

    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 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 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.

    The FCA’s Role In Forex Trading

    FCA-regulated Forex brokers are governed by rules that enhanced trust through enforcing market discipline, and adjust provider behaviour to prevent harm from happening to customers, and assisting when things go wrong.

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

    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.

    Scroll for more detailsPreviousNext
    Overall Rating
    Min. Deposit
    FCA License
    Regulators
    Platforms
    Cost of Trading
    EURUSD (Best)
    GBPUSD (Best)
    USDJPY (Best)
    Trading Commission
    No. of FX Pairs
    Compare
    Official Site
    4.69 /5
    Read Review
    USD 5
    173730
    CMCmarkets
    USD 7
    0.7 pips
    0.9 pips
    0.7 pips
    Fees Included in Spread
    330
    Visit Broker >
    Your capital is at risk
    4.61 /5
    Read Review
    USD 5
    684312
    USD 7.90
    0.1 pips
    0.6 pips
    0.3 pips
    From 7 USD / lot - Razor Account
    80+
    Visit Broker >
    Your capital is at risk
    4.54 /5
    Read Review
    USD 20
    793714
    Capital.com
    USD 6
    0.6 pips
    0.8 pips
    0.7 pips
    Fees Included in Spread
    166
    Visit Broker >
    Your capital is at risk
    4.49 /5
    Read Review
    USD 100
    113942
    USD 8
    0.8 pips
    1.0 pips
    1.6 pips
    Fees Included in Spread
    80+
    Visit Broker >
    Your capital is at risk
    4.49 /5
    Read Review
    ZAR 70
    801701
    USD 10
    0.1 pips
    0.5 pips
    0.3 pips
    6 USD / lot - Zero Account
    51
    Visit Broker >
    Your capital is at risk
    4.48 /5
    Read Review
    ZAR 1000
    525164
    Cloud Trade
    USD 6
    0.6 pips
    0.8 pips
    1.0 pips
    Fees Included in Spread
    32
    Visit Broker >
    Your capital is at risk
    4.38 /5
    Read Review
    USD 5
    705428
    USD 16
    0.6 pips
    0.6 pips
    0.0 pips
    7 USD / lot - XM Zero Account
    57
    Visit Broker >
    Your capital is at risk
    4.37 /5
    Read Review
    USD 10
    600475
    USD 15
    0.1 pips
    0.3 pips
    0.1 pips
    4 USD / ECN Accounts
    59
    Visit Broker >
    Your capital is at risk
    4.34 /5
    Read Review
    USD 5
    509746
    USD 12
    0.0 pips
    0.1 pips
    0.1 pips
    7 USD / lot - PRO account
    80+
    Visit Broker >
    Your capital is at risk
    4.32 /5
    Read Review
    USD 1
    730729
    USD 7
    0.5 pips
    0.5 pips
    0.5 pips
    Fees Included in Spread
    120
    Visit Broker >
    Your capital is at risk
    4.25 /5
    Read Review
    USD 5
    586541
    USD 7
    0.1 pips
    0.4 pips
    0.1 pips
    6 USD / Lot
    80+
    Visit Broker >
    Your capital is at risk
    4.24 /5
    Read Review
    USD 25
    595450
    MT Supreme
    USD 5
    0.6 pips
    1.0 pips
    0.9 pips
    1.8 - 3 USD per lot
    40+
    Visit Broker >
    Your capital is at risk
    4.24 /5
    Read Review
    USD 100
    509956
    FxProEdge
    USD 14
    1.9 pips
    2.4 pips
    1.6 pips
    9 USD / lot
    70+
    Visit Broker >
    Your capital is at risk
    4.19 /5
    Read Review
    USD 50
    585561
    USD 11
    0.2 pips
    0.4 pips
    0.2 pips
    Zero Accounts
    85
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    USD 50
    113942
    ATPro
    USD 6.90
    0.7 pips
    2.1 pips
    1.0 pips
    Fees Included in Spread
    84+
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    USD 100
    609970
    USD 20
    2.0 pips
    2.0 pips
    2.0 pips
    Fees Included in Spread
    70
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    USD 100
    186171
    USD 12
    0.2 pips
    0.8 pips
    0.6 pips
    8 USD / lot - Raw Account
    38
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    USD 5
    629628
    USD 12
    0.0 pips
    0.0 pips
    0.0 pips
    7 USD / lot - ThinkZero Account
    36
    Visit Broker >
    Your capital is at risk
    4.17 /5
    Read Review
    USD 5
    7110087
    USD 10
    1.0 pips
    1.4 pips
    1.0 pips
    4 USD per lot
    38
    Visit Broker >
    Your capital is at risk
    4.14 /5
    Read Review
    USD 5
    522157
    xStation5
    USD 5
    0.8 pips
    2.0 pips
    1.4 pips
    Fees Included in Spread
    49
    Visit Broker >
    Your capital is at risk
    4.13 /5
    Read Review
    USD 50
    217689
    NinjaTrader
    USD 13
    1.3 pips
    1.8 pips
    1.4 pips
    5 USD / lot
    40
    Visit Broker >
    Your capital is at risk
    4.13 /5
    Read Review
    USD 50
    501320
    USD 18
    0.9 pips
    1.3 pips
    1.7 pips
    Fees Included in Spread
    47
    Visit Broker >
    Your capital is at risk
    4.12 /5
    Read Review
    USD 100
    717270
    Zulu Trade
    USD 6
    0.2 pips
    0.9 pips
    0.6 pips
    4 USD / lot - Pro Account
    60+
    Visit Broker >
    Your capital is at risk
    4.09 /5
    Read Review
    ZAR 1500
    509909
    Plus500
    USD 8
    0 pips
    0 pips
    0 pips
    Fees Included in Spread
    70+
    Visit Broker >
    Your capital is at risk
    4.00 /5
    Read Review
    USD 1000
    562170
    AdvancedTrader
    USD 17
    1.7 pips
    2.0 pips
    1.6 pips
    Fees Included in Spread
    78
    Visit Broker >
    Your capital is at risk
    3.94 /5
    Read Review
    GBP 100
    709693
    USD 14
    1.0 pips
    1.3 pips
    1.3 pips
    1 USD / lot - Black Account
    68
    Visit Broker >
    Your capital is at risk
    3.78 /5
    Read Review
    USD 200
    590299
    USD 14
    0.0 pips
    0.5 pips
    0.4 pips
    On ECN Accounts
    40
    Visit Broker >
    Your capital is at risk
    3.69 /5
    Read Review
    USD 200
    583263
    etoro
    USD 10
    1.0 pips
    2.0 pips
    1.0 pips
    Fees Included in Spread
    52
    Visit Broker >
    Your capital is at risk
    3.67 /5
    Read Review
    USD 0
    190941
    Spreadex
    USD 6
    0.6 pips
    0.9 pips
    1.0 pips
    Fees Included in Spread
    63
    Visit Broker >
    Your capital is at risk
    3.57 /5
    Read Review
    USD 10
    609146
    trading212
    USD 100
    0 pips
    0 pips
    0 pips
    Fees Included in Spread
    222
    Visit Broker >
    Your capital is at risk
    3.52 /5
    Read Review
    USD 500
    586466
    USD 7
    0.2 pips
    0.8 pips
    0.3 pips
    €/$5 per 1 lot
    40
    Visit Broker >
    Your capital is at risk
    3.42 /5
    Read Review
    USD 100
    738538
    Sirix
    USD 40
    3.0 pips
    3.0 pips
    3.0 pips
    Fees Included in Spread
    55
    Visit Broker >
    Your capital is at risk

    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: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

    Traders should not deposit any money that is not disposable. 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 from the FCA or from ASIC)

    Our Methodology

    Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

    With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal.

    In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

    All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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    Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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