The Financial Conduct Authority (FCA) is a UK-based regulator. In this article, we reveal the pros and cons of our 15 Best FCA Forex Brokers and we review the features, tools, platforms, trading conditions and instruments these brokers offer.
What does the FCA do?
The FCA took over the Financial Services Authority (FSA) in 2013 and has head offices in London. This organization regulates more than 50,000 businesses globally and sets specific standards so that consumers are protected and treated fairly.
FCA-regulated brokers are required by law to comply with strict FCA standards and these brokers are also supervised by the FCA.
The FCA has a partnership with the Prudential Regulation Authority (PRA), which is a global regulator of banks, credit unions, insurers and investment firms.
The FCA does not only regulate forex brokers but also regulates the administration of pensions, credit cards, loans and investments.
The FCA regulates brokers and financial services firms through a complex authorisation and verification process with the enforcement of international standards and regulations and supervises registered companies on an ongoing basis.
How to check if a broker is regulated by the FCA
If you want to make sure the broker you are trading with is regulated by the FCA, you can check the broker’s unique FCA registration number and search for it on the FCA register list.
All you need to do is go to the FCA website, click on the “firms” tab and choose an option from the “Registers and Systems” menu.
Every broker that has an active FCA license and is authorised to provide trading services will be found on the FCA register.
What to do if you have a complaint
If you have reason to believe that you have been treated unfairly by an FCA-regulated broker or you have found an unauthorised broker that claims to have a false FCA service license, you can lodge an official complaint on the FCA website.
Under the “Consumers” tab, you will find information about consumer rights, known scams and how to avoid them, applying for compensation and everything else you need to know as a consumer and member of an FCA-regulated firm.
Exness
Overall Rating Rated #1 of USD 10 FSA, CBCS, FSC, FSC, FSCA, CySEC, FCA 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD Yes 1:unlimited 🛒 Instruments 100+ Forex, Cryptocurrencies, Energies, Metals, Shares, Stocks, Commodities 🏛️ Visit Broker
4.9/5
Recommended FX Brokers
Min. Deposit
Regulators
Islamic Account
Leverage
Exness was founded in 2008 and is a licensed and regulated broker.
Exness has more than 343,000 clients and there are 5 types of accounts to choose from.
Exness requires a low minimum deposit of only $10.
Spreads on the Standard accounts start from 0.3 pips and these accounts are commission-free.
The Professional accounts have spreads from 0 pips but a small commission fee is charged.
Exness Pros and Cons:
| ✔️Pros | ❌Cons |
| Instant 24/7 withdrawals | No trading bonus |
| Free VPS Hosting | |
| 5 account types | |
| 100+ Forex pairs |
Admirals
USD 1 ASIC, FCA, EFSA, CySEC 📱 Platforms MT4, MT5, Admirals app ₿ Crypto Yes 💵 Account Currency USD, CHF, EUR, BGN, HRK, PLN, RON, CZK, HUF, GBP Yes 1:30 🛒 Instruments Forex, Commodities, Indices, Stocks, ETFs, Bonds 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
Admirals offers 5 types o accounts ad is a London-based broker that was founded in 2001.
Admirals is a great option for beginners and stock traders and accounts can be connected to popular and powerful platforms.
Admirals is regulated by tier-1 financial organizations and this broker currently has more than 50,000 clients.
Admirals Pros and Cons:
| ✔️Pros | ❌Cons |
| Low minimum deposit | Cash rebates only available to UK and Australian clients |
| Multiple account types | Inactivity fees |
| Negative balance protection | |
| 3,000+ Shares |
FXTM
Overall Rating USD 10 CySEC, FCA, FSC 📱 Platforms MT4, MT5, FXTM Trader ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:2000 🛒 Instruments Metals, Stocks, CFDs, Indices, Forex, Commodities 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXTM has more than 4 million clients and is a globally regulated broker.
FXTM offers spreads from 0 pips and more than 1,000 tradable instruments.
FXTM provides plenty of educational resources and is a great option for beginners.
FXTM Pros and Cons:
| ✔️Pros | ❌Cons |
| Tight spreads | No USA clients |
| Beginner-friendly | Inactivity fees |
| Low minimum deposit |
FxPro
Overall Rating USD 100 FCA, CySEC, FSCA 📱 Platforms FxPro platform, cTrader, MT4, MT5 Yes 💵 Account Currency EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR Yes 📊 Leverage 1:200 🛒 Instruments Forex, Metals, Indices, Shares, Energies
4.6/5
Minimum Deposit Regulators Islamic Account
FxPro is an NDD broker that has more than 2.1 million clients.
FxPro has received more than 95 international awards and has a 5-star customer service rating.
FxPro offers more than 70 currency pairs and tight spreads on majors, minors and exotics.
FxPro Pros and Cons:
| ✔️Pros | ❌Cons |
| CySEC-regulated | No variety of accounts |
| 5+ Base currencies | Inactivity fees |
| 2,100+ instruments |
Interactive Brokers
Overall Rating USD 0 USSEC, CFTC, ASIC, FCA 📱 Platforms Trader Workstation, IBKR mobile app, IBKR APIs ₿ Crypto No 💵 Account Currency AUD, CHF, TRY, USD, GBP, DKK, EUR, KRW, MXN, NZD, HKD, CAD, CNH, CZK, HUF, ILS, YEN, NOK, PLN, RUB, SGB, ZAR, SEK No 1:40 🛒 Instruments Forex, CFDs, Stocks, Options, Bonds, Mutual Funds, Commodities, Metals 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Leverage
Interactive Brokers was founded in 1978 and is a popular low-cost broker based in the United States.
Interactive Brokers offers commission-free trading and experienced traders can earn extra income through this broker by providing strategies.
Interactive Brokers has more than 1.92 million clients and is listed on NASDAQ100.
Interactive Brokers Pros and Cons:
| ✔️Pros | ❌Cons |
| 100+ currencies | No swap-free accounts |
| No minimum deposit | Low leverage cap |
| Wide range of instruments | |
| 20+ account currencies |
eToro
Overall Rating USD 50 FCA, CySEC, ASIC 📱 Platforms eToro app, OpenBook, eToro CopyTrade ₿ Crypto Yes 💵 Account Currency USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB Yes 1:30 🛒 Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
eToro was founded in 2007 and this broker has more than 25 million clients globally.
eToro is one of the best brokers for beginners and there are plenty of educational courses and trading guides you can use.
We recommend trading with eToro if you are interested in trading stocks and NASDAQ100.
eToro is a great option for copy trading and social traders.
eToro Pros and Cons:
| ✔️Pros | ❌Cons |
| Beginner-friendly | Withdrawal fees |
| NASDAQ100 broker | Forex fees are high |
| Tier-1 regulations | |
| Free stock and ETF trading in EU |
AvaTrade
USD 100 MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency AUD, EUR, USD, GBP, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
AvaTrade is an award-winning broker that was founded in 2006 and this broker has more than 300,000 clients.
AvaTrade offers 4 types of accounts and tight spreads from as low as 0 pips.
AvaTrade is a great option for beginners because plenty of educational guides and tutorials are provided.
AvaTrade Pros and Cons:
| ✔️Pros | ❌Cons |
| Many regulations | High minimum deposit |
| Tight spreads | |
| Commission-free trading | |
| Highly regulated |
Pepperstone
Overall Rating USD 200 ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency USD, GBP Yes Low 🛒 Instruments Forex, Crypto, Shares, ETFs, Indices, Commodities 🏛️ Visit Broker
4.0/5
Minimum Deposit Regulators Islamic Account Leverage
Pepperstone is a good option if you are scalping, hedging or using Expert Advisors.
Pepperstone is a beginner-friendly broker and this broker gives its clients access to Autochartist, Figaro and other specialist trading tools.
Pepperstone offers 2 types of accounts and is recommended for social traders and beginners.
Pepperstone Pros and Cons:
| ✔️Pros | ❌Cons |
| Commission-free trading | High minimum deposit |
| Social trading broker | 2 base currencies |
| Beginner-friendly | Low leverage cap |
| No inactivity fees |
HFM
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
HFM (formerly HotForex) was founded in 2010 and has a client base of over 2,5 million users.
This broker has received more than 45 Industry awards and is regulated by 5 international bodies.
HFM offers 5 types of accounts with a maximum leverage of 1:1000 and is regulated by the FSCA, CySEC, FCA, FSA and DFSA.
HotForex Pros and Cons:
| ✔️Pros | ❌Cons |
| No charge for withdrawals and deposits | Zero Account has a high commission charge |
| Highly regulated by tier 1 and tier 2 regulators | Trading platform limited to Metatrader4 and 5 |
| Low spread for USD / EUR | Instruments offering is low |
ActivTrades
USD 500 FCA, CBS 📱 Platforms MT4, MT5, ActivTrader ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF Yes 1:30 🛒 Instruments Indices, Forex, Commodities, Crypto, Shares 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
ActivTrades was founded in 2001 and offers 24-hour support in 14 languages.
ActivTrades is an NDD broker that offers cashback rebates and spreads from 0.5 pips.
ActivTrades is a great option if you’ll be trading in high volumes and this broker provides plenty of educational resources and advanced trading tools.
ActivTrades Pros and Cons:
| ✔️Pros | ❌Cons |
| Tight spreads | 4 account currencies |
| Active Trader program | High minimum deposit |
| No requotes | |
| Negative Balance Protection |
XTB
Overall Rating USD 0 FCA, KNF, CySEC, IFSC 📱 Platforms xStation 5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, HUF Yes 📊 Leverage 1:500 🛒 Instruments 2,100+ Forex, Commodities, Indices, Crypto, Stocks, ETFs, CFDs 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
XTB was founded in 2002 and is a popular broker for beginners and CFD traders.
XTB does not support the MetaTrader platforms but the proprietary xStation 5 platform is a great alternative and has many advanced features.
XTB also provides educational resources and customer support is available via live chat, email and telephone.
XTB Pros and Cons:
| ✔️Pros | ❌Cons |
| Trading bonuses | 1 base currency |
| No minimum deposit | Inactivity fees |
| Beginner-friendly | 1No USA clients |
| 2,100+ instruments |
Forex.com
Overall Rating USD 100 FCA, IIROC, ASIC, CFTC 📱 Platforms MT4, MT5, Forex.com apps ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD No 📊 Leverage 1:40 🛒 Instruments Forex, Indices, Stocks, Commodities, Metals, Crypto 🏛️ Visit Broker
3.9/5
Minimum Deposit Regulators Islamic Account
Forex.com is a broker based in the USA and was founded in 2001.
Forex.com has more than 70,000 clients and offers 3 types of trading accounts.
We recommend trading with Forex.com if you are a high-volume trader because this broker offers an active trader program and cashback rebates.
Forex.com also provides plenty of educational resources and is a great option for beginners.
Forex.com Pros and Cons:
| ✔️Pros | ❌Cons |
| 9,500+ instruments | 2 account currencies |
| Cashback rebates | Inactivity fees |
| Beginner-friendly |
IG
Overall Rating USD 0 FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC 📱 Platforms MT4, ProRealTime, L2 Dealer ₿ Crypto Yes 💵 Account Currency USD, GBP, AUD, EUR, SGD, HKD Yes 1:30 🛒 Instruments Crypto, Forex, Indices, Shares, Commodities 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
IG is a highly regulated CFD broker that was founded in 1974.
This broker is recommended if you are a professional trader, an institutional client or a high-volume retail trader.
IG focuses more on experienced traders, but educational resources are provided.
Customer support is available 24/5 via live chat, telephone and email.
IG Pros and Cons:
| ✔️Pros | ❌Cons |
| Many regulations | Low leverage cap |
| Trading bonuses | High minimum deposit |
| Low trading fees |
Plus500
Overall Rating USD 100 FCA, CySEC, ASIC, FMA 📱 Platforms Plus500 app ₿ Crypto Yes 💵 Account Currency USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, SGD Yes 📊 Leverage 1:300 🛒 Instruments Forex, Indices, Cryptocurrency, Commodities, Shares, Options, ETFs 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account
Plus500 was founded in 2008 and this broker currently has more than 22 million clients.
Plus500 is an FTSE 250 company and offers commission-free trading with tight spreads and multilingual support.
Plus500 is a great option for beginners and CFD traders and this broker sponsors upcoming international sports teams.
Plus500 Pros and Cons:
| ✔️Pros | ❌Cons |
| Commission-free trading | Min. deposit may be high for some |
| 2,800+ instruments | Inactivity fees |
| 10+ account currencies | No trading bonus |
| Negative balance protection |
Markets.com
Overall Rating USD 100 CySEC, ASIC, FSCA 📱 Trading Desk MT4, MarketsX, Marketsi, MT5 ₿ Crypto Yes 📈 Total Pairs 65 Yes Low 🕒 Account Activation Time 24 Hours 🏛️ Visit Broker
3.7/5
Minimum Deposit Regulators Islamic Account Trading Fees
Since 2008, Markets.com has offered global trading solutions in financial markets. They have developed a proprietary multi-asset platform with full account functionality, but they are also compatible with the MetaTrader platforms.
Markets.com is regulated by the FCA (UK), ASIC (Australia), CySEC (Cyprus), FSCA (South Africa) and FSC (BVI) and client funds are held in secure, segregated accounts at top financial institutions.
Markets.com won the Best FX Platform and Best Forex Provider in 2017, awarded by the UK Forex Awards, and was named Best Forex Trading Platform in the Middle East in 2020.
Markets.com Pros and Cons:
| ✔️Pros | ❌Cons |
| Offering 300+ forms of asset classes | Only accepts card payments |
| Reliable support staff | Strictly forbids hedging |
| Great training and research material and tools | MarketsX mobile app suffers poor response during intervals of navigating and closing positions |
Conclusion
By trading with one of our top FCA-regulated brokers, you will have extra protection and security. These brokers will face serious legal consequences if they do not honour FCA standards and the FCA will always put the consumer first.
This organization also prohibits any fraudulent activity or trading conditions that are not in the consumer’s best interests, so why trade with an unregulated broker when you can trade with one of our 15 Best FCA Forex Brokers?
We hope that this review will help you find a broker that aligns with your trading goals so that you can trade with confidence and peace of mind.
Good luck with your trading!
FAQ
What is the FCA?
The FCA (Financial Conduct Authority) is a regulatory framework based in London and has a partnership with the Prudential Regulation Authority (PRA), which is a global regulator of banks, credit unions, insurers and investment firms.
What does the FCA do?
The FCA regulates more than 50,000 businesses globally and sets specific standards so that consumers are protected and treated fairly.
What jurisdiction is the FCA?
London and the United Kingdom
Which laws apply to FCA?
The laws related to the FCA are:
- Financial Services and Markets Act 2000 (FSMA)
