8  Best FCA Regulated Forex Brokers for 2024

What is the FCA?

The FCA is one of the world’s most respected financial regulatory agencies. It is 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.

How to compare FCA-regulated brokers

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. 

Why Trade with an FCA-Regulated Forex Broker?

The FCA oversees all British firms, Forex brokers, and individuals offering financial services and applies one of the world’s strictest regulatory environments. The FCA also actively enforces compliance with the rules and regulations governing CFD products and consumer protection.

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 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.

What is the FCA’s Role in Forex Trading?

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

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

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 details

Broker	Broker Score	Min. Deposit	FCA License	Regulators	Platforms	Cost of Trading	EURUSD (Best)	GBPUSD (Best)	USDJPY (Best)	Trading Commission	No. of FX Pairs	Compare
	4.69 /5 Read Review	USD 0	195355		MT4, L2 Dealer, ProRealTime	USD 6	0.85 pips	1.40 pips	0.94 pips	Fees Included in Spread	80
	4.68 /5 Read Review	USD 100	607305		MT4, MT5, markets.com	USD 7	0.60 pips	1.20 pips	0.70 pips	Fees Included in Spread	56
	4.61 /5 Read Review	USD 0	684312		MT4, MT5, cTrader, TradingView	USD 10	0.17 pips	0.59 pips	0.26 pips	From 7 USD / lot - Razor Account	100
	4.58 /5 Read Review	USD 100	717270		MT4, MT5	USD 4	0.10 pips	0.30 pips	0.10 pips	4 USD / lot	62
	4.53 /5 Read Review	AUD 100	921296		MT4, MT5, TradingView	USD 10	0.06 pips	0.73 pips	0.23 pips	7 USD / lot	55
	4.53 /5 Read Review	USD 0	801701		MT4, MT5, HFM Trading App	USD 10	0.10 pips	0.50 pips	0.30 pips	6 USD / lot - Zero Account	53
	4.45 /5 Read Review	USD 0	801701		MT4, MT5	USD 6	1.30 pips	1.80 pips	1.90 pips	6 USD / lot - ZERO Spread Account	53
	4.44 /5 Read Review	USD 0	509746		MT4	USD 10	0.00 pips	0.10 pips	0.10 pips	7 USD / lot - PRO account	70
	4.43 /5 Read Review	USD 0	629628		MT4, MT5, ThinkTrader	USD 11	0.00 pips	0.00 pips	0.00 pips	7 USD / lot - ThinkZero Account	46
	4.39 /5 Read Review	USD 100	509956		MT4, MT5, cTrader, FxProEdge	USD 14	0.40 pips	1.00 pips	0.60 pips	9 USD / lot	70
	4.39 /5 Read Review	USD 0	522157		xStation5	USD 7	0.70 pips	2.20 pips	1.40 pips	Fees Included in Spread	57
	4.35 /5 Read Review	USD 50	590299		MT4, MT5, ProTrader	USD 6	0.00 pips	0.50 pips	0.40 pips	6 USD / lot - ECN Account	46
	4.33 /5 Read Review	USD 100	502635		MT4, MT5	USD 12	0.20 pips	0.50 pips	0.50 pips	Fees Included in Spread	130
	4.30 /5 Read Review	ZAR 1000	525164		MT4, Cloud Trade	USD 6	0.60 pips	0.80 pips	1.00 pips	Fees Included in Spread	32
	4.28 /5 Read Review	USD 25	595450		MT4, MT5, MT Supreme	USD 8	0.10 pips	0.60 pips	0.30 pips	1.8 - 3 USD per lot	82
	4.28 /5 Read Review	USD 100	609970		MT4	USD 20	2.00 pips	2.00 pips	2.00 pips	Fees Included in Spread	50
	4.28 /5 Read Review	USD 50	217689		MT4, TradeStation	USD 13	1.30 pips	0.60 pips	0.30 pips	None	45
	4.27 /5 Read Review	USD 10	600475		MT4, MT5	USD 15	0.00 pips	0.20 pips	0.00 pips	From 4 USD / ECN Accounts	62
	4.26 /5 Read Review	USD 0	190941		Spreadex, TradingView	USD 6	0.60 pips	0.90 pips	0.70 pips	Fees Included in Spread	69
	4.25 /5 Read Review	USD 0	7110087		MT4, MT5	USD 10	0.20 pips	0.20 pips	0.20 pips	4 USD / lot	45
	4.25 /5 Read Review	USD 5	586541		MT4, MT5	USD 7	0.10 pips	0.40 pips	0.10 pips	6 USD / Lot	80
	4.12 /5 Read Review	USD 100	186171		MT4, MT5	USD 12	0.10 pips	0.40 pips	0.20 pips	8 USD / lot - Raw Account	70
	3.64 /5 Read Review	USD 50	585561		MT4	USD 22	0.00 pips	0.00 pips	0.00 pips	On select STP/ECN Accounts	83
	3.61 /5 Read Review	USD 0			MT4, MT5, cTrader	USD 13	1.30 pips	1.80 pips	1.30 pips	7 USD / lot - Zero Account	48
	3.57 /5 Read Review	USD 10	609146		trading212	USD 24	2.40 pips	4.00 pips	2.80 pips	Fees Included in Spread	180
	3.52 /5 Read Review	USD 500	586466		MT4, MT5	USD 7	0.20 pips	0.80 pips	0.40 pips	5 USD / lot	42

Which is the Best FCA-Regulated Broker?

HFM is the best FCA-regulated broker in Uganda. HFM offers fast STP execution and four different accounts on the MT4 and MT5 platforms. The minimum deposit on the Micro Account is only 70 ZAR, and spreads start at 1 pip on the EUR/USD.

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