5 Best Brokers Regulated by FCA

Founded in Melbourne, Australia in 2010, Pepperstone has rapidly grown to become one of the world's largest forex and contract for difference (CFD) brokers, boasting a global clientele of over 150,000 individuals. Regulated by multiple top-tier financial institutions, including the FCA, ASIC, CYSEC, DFSA, and SCB (FCA license number: 684312), Pepperstone offers the following key features:

⭐⭐⭐⭐⭐
FCA No.	684312
Regulation	FCA , ASIC, CYSEC, DFSA, SCB
Market Instruments	Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities
Max. Leverage	Depends on the regulatory jurisdiction(1:30 - 1:500); FCA 1:30
Average EUR/ USD Spread	Standard account: 1.00 pips	Razor account:0
Commission for Forex	Standard account: 0	Razor account:  : $6.00 per round lot(cTrader) /$7.00 per round lot(MT4/MT5/ TradingView)
Trading Platforms	MT4/ MT5/ TradingView/ cTrader
Min. Deposit	0
Deposits & Withdrawals Options	Visa, Mastercard, Bank transfer, PayPal,  Neteller, Skrill, Union Pay, etc
Customer Support	24/5 phone, email, live chat
Demo Account	Available for 30 days
Inactivity Fee	No

Reasons for Pepperstone's acclaim: Pepperstone imposes no minimum deposit requirement. In addition to this, the broker provides a diverse range of tradable assets, including Forex, Cryptocurrencies, Shares, ETFs, Indices, and Commodities, aligning with most top-tier brokers. Notably, they offer two account types with different fee structures (Standard account & Razor account) and four trading platforms to choose from (MT4/MT5/TradingView/cTrader). Coupled with the absence of a minimum deposit requirement, this ensures that every trader can enjoy relatively low overall costs (spreads plus commissions) and an optimal trading experience.

Advantages:

Zero minimum deposit requirement

Strict regulation and fund security: Regulated by three primary jurisdictions and two secondary jurisdictions

Competitive pricing for active traders on Razor accounts

While Pepperstone does not provide a proprietary platform, the available options excel in technical features and, in certain cases, design and usability

Rich educational resources, including articles, video tutorials, courses, and real-time webinars, catering to traders of all levels

Disadvantages:

Limited number of tradable instruments compared to some market leaders

Slightly higher spreads on standard accounts compared to industry-leading brokers

Registered in Cyprus in July 2006, FxPro has executed over 600 million orders since its inception, serving more than 1.8 million clients in 173 countries/regions. Regulated by multiple financial institutions, including the FCA, CySEC, FSCA, and SCB (FCA license number: 509956), here are the key details about this broker:

⭐⭐⭐⭐⭐
FCA No.	509956
Regulation	FCA, CySEC, FSCA, SCB
Market Instruments	Forex, Stocks, Futures, Indices, Metals,   Energies, Cryptocurrencies
Max. Leverage	Depends on the regulatory jurisdiction(1:30 - 1:500); FCA 1:30
Average EUR/ USD Spread	Standard: 1.5 pips	Pro: 1.0 pips	Raw+: 0.2 pips	Elite: 0.2pips
Commission for Forex	Standard: 0	Pro: 0	Raw+: $7(per round lot)	Elite: $7(per round lot)
Trading Platforms	MT4/ MT5/ cTrader/ Proprietary
Min. Deposit	$100
Deposits & Withdrawals Options	Wire Transfer, Local Deposit, Broker to   Broker, Credit Card, Visa, Mastercard, etc
Customer Support	24/5 phone, email, live chat
Demo Account	Available for 180 days
Inactivity Fee	Yes

Reasons for FxPro's recognition: FxPro stands out as a true No Dealing Desk (NDD) broker, providing exceptional market access opportunities for all types of traders. Because all client transactions with FxPro are executed without interference from a dealing desk, their order execution speed is remarkably fast – with most orders executed within 13 milliseconds. In other aspects, FxPro excels as well. They offer over 2,100 trading instruments, including futures and cryptocurrency contracts for difference (CFDs) – well above the industry average. The unique FxPro Wallet facilitates quick and easy transfers within accounts. High-quality educational resources and research tools help them maintain a leading position in the industry.

Advantages:

No dealing desk intervention, fast order execution

Rich selection of trading platforms, including cTrader, MT4, MT5, and FxPro's proprietary solution

FxPro VPS service benefits forex traders using automated trading solutions to manage accounts

Up to 30% discount for active traders

Rich educational resources and research tools

Disadvantages:

Elite account has a relatively high minimum deposit requirement of $30,000

Inactivity fee: A fee is charged after 6 months of no trading

Established in London in 1999, FXCM is one of the earliest retail forex brokers and a pioneer in bringing online currency trading into the mainstream. Currently owned by the financial services giant Jefferies Financial Group with assets exceeding $51 billion, the broker is regulated by multiple financial institutions, including the FCA, ASIC, CYSEC, and FSCA (FCA license number: 217689). Here are the key details about this broker:

⭐⭐⭐⭐⭐
FCA No.	217689
Regulation	FCA, ASIC, CYSEC, FSCA
Market Instruments	Currency pairs, Precious metals,  Commodities, Global stock indices, Treasury bonds
Max. Leverage	Depends on the regulatory jurisdiction(1:30 - 1:400); FCA 1:30
Average EUR/ USD Spread	CFD Account : 1.2 pips	Active Trader Account : 0
Commission for Forex	CFD Account : 0	Active Trader Account :$8.00 per round   lot
Trading Platforms	MT 4, TradingView, Capitalize.AI, Trading   Station(FXCMs flagship platform)
Min. Deposit	$50
Deposits & Withdrawals Options	Credit Card, Bank Wire, PayPal, Google   Pay, Apple Pay, Open Banking, etc
Customer Support	24/5 phone, email, live chat
Demo Account	Available for unlimited duration   (expires after 30 days of inactivity)
Inactivity Fee	Yes

Reasons for FXCM's recognition: FXCM is fully committed to providing automated trading solutions, specifically catering to professional traders and institutional clients. FXCM offers four free API solutions that allow traders at all levels to develop automated trading solutions communicating directly with the FXCM trading server. VPS services ensure the continuous and effective operation of automated trading solutions. In terms of trading costs, the spreads in standard accounts are in line with industry averages, while traders can benefit from more competitive spreads with the active trader account type.

Advantages:

Powerful algorithmic trading resources

Advanced trading platforms

Low-cost structure with commission-based and quantity-based rebate plans

Unique trading tools, such as trading baskets of forex and stocks

VPS service for uninterrupted automated trading

Disadvantages:

Limited selection of offered CFDs

Slightly higher currency exchange fees, with most traders paying a 150-point markup

Founded in London, UK, in 1974, IG is one of the oldest brokers with a rich history. Currently, IG serves over 300,000 clients worldwide with offices on five continents. The owner, IG Group Holdings PLC, is listed on the London Stock Exchange with a market capitalization exceeding £2.5 billion. The broker is regulated by multiple financial institutions, including ASIC, FSA, DFSA, FCA, NFA, FMA, and MAS (FCA license number: 195355). Here are the key details about this broker:

⭐⭐⭐⭐⭐
FCA No.	195355
Regulation	ASIC, FSA, DFSA, FCA, NFA, FMA, MAS
Market Instruments	Currency pairs, Commodities, Indices, Stocks, Financial spread betting
Max. Leverage	Depends on the regulatory jurisdiction(1:30 - 1:200); FCA 1:30
Average EUR/ USD Spread	1.1 pips	0
Commission for Forex	0		$11.00 per round lot
Trading Platforms	IGs custom-built web platform and   mobile app, MT4, ProRealTime, L2 Dealer,
Min. Deposit	£250
Deposits & Withdrawals Options	Bank wire, Debit card, Wise, PayPal
Customer Support	24/7 phone, email, live chat
Demo Account	Available for unlimited duration
Inactivity Fee	Yes

Reasons for IG's recognition: IG provides excellent solutions for clients in terms of tradable instruments, available platforms, trading costs, and educational resources. IG offers a wide range of tradable assets, and the number of available tools far exceeds the industry average. The overall trading costs at IG are better than industry averages. IG's 24/7 customer service is highly responsive, allowing clients to contact IG customer support via live chat, phone, or email from 8 am on Saturday to 10 pm on Friday (UK time).

Advantages:

Over 18,000 tradable assets covering stocks, forex, commodities, baskets, futures, options, etc.

Orders executed through Straight Through Processing (STP) for improved execution

Rebate promotions for active traders with CFD accounts; DMA accounts offer more favorable trading costs

IG's educational tools surpass those of any other online broker, catering to traders at all levels: Beginner, Intermediate, and Advanced.

Disadvantages:

Higher trading costs for infrequent traders

IG does not provide social (copy) trading through its web-based interface. Additionally, backtesting and automated trading features are only available through third-party applications.

Dormant accounts inactive for 24 consecutive months incur a monthly fee of £12.

Founded in Denmark in 1992, Saxo Bank is a leading retail forex and multi-asset brokerage. Embracing technological advancements at the end of the 90s, the broker launched its first online trading platform in 1998. To date, Saxo Bank has served over 1 million clients in 15 international jurisdictions, including the UK, Denmark, and Singapore. Regulated by multiple financial institutions, including ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, and MAS (FCA license number: 551422), here are the key details about this broker:

⭐⭐⭐⭐⭐
FCA No.	551422
Regulation	ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS
Market Instruments	Forex, stocks, futures, options, bonds, ETFs and CFDs
Max. Leverage	1:30 (Retail), 1:66 (Pro)
Average EUR/ USD Spread	Classic 0.8pips	Platinum 0.7pips	VIP 0.6pips
Commission for Forex	0
Trading Platforms	SaxoTraderGO (web) , SaxoTraderPRO   (desktop), TradingView, MultiCharts, etc
Min. Deposit	€2,000
Deposits & Withdrawals Options	Bank transfer, Credit/Debit cards (electronic   wallets are not available)
Customer Support	24/5 phone, email
Demo Account	Available for unlimited duration
Inactivity Fee	Yes

Reasons for Saxo's recognition: Saxo is among the brokers with the broadest range of tradable instruments, coupled with advanced flagship trading platforms and outstanding research facilities. The broker offers a total of over 70,000 tradable instruments, covering almost every electronic trading market for various asset types. They provide spot forex, forex options, Non-Deliverable Forwards (NDFs), Contract for Difference (CFDs), stocks, stock options, Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs), futures, and 33,000 bonds (available only via phone).

Advantages:

Offers over 70,000 tradable instruments, far exceeding industry averages

Powerful flagship platforms SaxoTraderGo and SaxoTraderPRO with robust charting, technical indicator features, and user customization support

Publishes average spread data during each trading session, segmented by order size, highlighting its ability to provide optimal execution on a large scale

Advanced research center provides well-planned market reports

Disadvantages:

High minimum deposit: The minimum deposit for opening a Classic account is €2,000, while Platinum and VIP accounts require minimum deposits of $200,000 and $1,000,000, respectively

Does not offer MT4/MT5 platforms

Customer support could be improved, lacking features like real-time chat functionality

FCA regulation refers to the oversight and regulation of companies involved in managing or providing financial services. It operates in the United Kingdom independently of the government, overseeing and regulating 50,000 financial services companies and supervising the financial markets in the UK. Member institutions of the Financial Conduct Authority (FCA) contribute membership fees to fund the regulatory body.

The FCA is responsible for authorizing all consumers, financial services, and investment companies to operate legally. Once a forex broker successfully applies and meets the requirements and standards of the regulatory framework, they receive this authorization. Due to the thorough authorization process, brokers regulated by the FCA are considered more reliable and trustworthy.

In addition to serving as a licensing authority, the FCA also functions as a disciplinary body for forex brokers. This entity's responsibility is to encourage brokers to provide high-quality services to clients. As a result, most traders choose to conduct transactions with brokers regulated by the FCA.

On the other hand, unregulated forex brokers, operating without oversight, often offer more relaxed conditions for clients. However, the risk for traders dealing with such brokers is that they may unknowingly face the potential loss of funds. Therefore, FCA regulation is a crucial aspect of forex trading to ensure a sound and secure trading environment.

Collaborating with brokers regulated by the FCA comes with several advantages. Traders can have confidence that their funds are segregated from the broker's funds, they benefit from negative balance protection, and their deposits are insured up to a maximum of £85,000. The FCA imposes a maximum leverage limit of 1:30 for retail traders, providing a relatively moderate level of leverage.

The Financial Conduct Authority (FCA) has three operational objectives to support its strategic goals: to protect consumers, to safeguard and enhance the integrity of the UK financial system, and to promote healthy competition among financial service providers for the benefit of consumers.

The Financial Conduct Authority (FCA) in the United Kingdom imposes a series of regulatory requirements on forex brokers to ensure market transparency, legality, and customer protection. Please note that regulatory regulations may change, so it is advisable to consult the latest FCA documents or visit the official FCA website for the most up-to-date information. Here are some typical FCA requirements for forex brokers:

License Requirements: Forex brokers need to register with the FCA and obtain the appropriate license to provide financial services in the UK. They must comply with FCA regulations, including meeting financial soundness and management requirements.

Capital Requirements: Brokers need to maintain sufficient capital levels to ensure their ability to fulfill financial commitments and have the strength to withstand market risks.

Transparency and Reporting: The FCA requires brokers to provide transparent trading and pricing information and submit reports to regulatory authorities when necessary. This includes customer trade reports, financial reports, and other necessary documents.

Client Fund Protection: Brokers must take measures to protect client funds, such as segregating client and company funds and providing a transparent fund management system.

Best Execution Policy: Brokers need to develop and implement a best execution policy to ensure client trades are executed under the best market conditions.

Client Information Protection: Brokers need to ensure the confidentiality and security of client information, taking necessary measures to prevent unauthorized access.

Compliance and Internal Controls: Brokers need to establish effective compliance procedures and internal control measures to ensure compliance with all applicable regulations and rules.

Training and Qualifications: Company employees need to undergo appropriate training to ensure they understand industry regulations and obtain relevant qualifications.

These requirements aim to maintain the stability of financial markets, protect investors from potential misconduct, and ensure brokers uphold high levels of transparency and ethical standards in their business operations.

1. Visit the official FCA website at https://www.fca.org.uk/.

2. Use the FCA register to search for the broker. Enter the name or registration number of the broker you want to check. The register provides information about authorized companies and individuals.

3. Verify the details. Review the information provided by the FCA, including regulatory status, business address, and any other relevant information associated with their authorization.

4. Check for warnings or alerts. The FCA may issue warnings about companies engaging in unauthorized activities or fraud.

The aforementioned steps are the general procedures to verify whether a broker is regulated. Ordinary traders may need to invest a considerable amount of time in executing these steps. However, WikiFX streamlines this process for you, as we have organized and gathered regulatory information for over 50,000 brokers in more than 60 countries worldwide. Simply input the name of the broker you want to search on the WikiFX official website, and you can thoroughly review all regulatory details for that broker. We showcase specific license numbers, operational statuses, and other detailed information, providing clarity at a glance

The FCA Warning List comprises companies suspected of operating without authorization or permission from the Financial Conduct Authority (FCA). Consumers can search for unauthorized companies on the FCA website. 

WikiFX similarly streamlines this process for you. You only need to input the name of the broker you want to search on the WikiFX official website, and whether the broker has been warned by the FCA will be readily apparent. The same applies to other regulatory bodies.