Best UK Forex Brokers

FCA regulation in UK

UK regulated Forex brokers are very popular among traders.
Regulation of UK Forex brokers is done by the Financial Conduct Authority (FCA). The FCA is an independent agency that has the responsibility of regulating all financial companies and individual investors in the Forex trading market. FCA has the power to revoke licenses, audit company financials, oversee marketing to protect consumers.
Clients are covered by the Financial Services Compensation Scheme (FSCS) - In case of company becomes insolvent, FSCS can pay compensation to each client. The maximum level of compensation for claims against firms is £50,000 per person per firm.

Requirements for FCA regulated brokers

FCA-regulated forex brokers must adhere to a number of industry standards.

• Bank in which clients funds are held must be also regulated by the FCA.
• Funds of the clients must be separated from company funds of the company, clients' funds can never be used as company assets including the situation when the company becomes insolvent.
• Financial reports must be submited to the FCA regularly.

Difference between Authorized and EEA Authorized

• Authorized means registered and regulated directly by the FCA.
• EEA authorized means that the company is regulated by another authority in the EEA (European Economic Area) and benefits of the European passport to provide cross border services in EEA countries including United Kingdom. Those companies must comply with standards agreed across all european countries in EEA.

The FCA registry contains Authorized and EEA authorized brokers but in the list of UK brokers presented on this page, we have included only the FCA regulated brokers in England.