Table Of Contents

Best FCA-Regulated FOREX Brokers

Writer: Adrian Ashley
Editor: Richard Sine
Checker: Bahaa Khateeb
Last Update: 2025-01-02

With many years of meticulous FOREX broker testing, Arincen stands out as a voice of authority. Our analyses, shaped by exhaustive data collection, are trusted by many. Each year, we gather 120 data points from more than 100 brokers. Our team of more than 20 people collaborate extensively to produce high-quality broker reviews like this one. For a detailed explanation of how we test brokers, navigate to the bottom of this article.
Note: We earn money by selling ads, placements, or through partnerships with some companies we have agreements with, learn more.

Before deciding to open an account with a FOREX broker, many traders are keen to understand the regulatory framework behind such operations. The following article will cover everything you need to know about the United Kingdom's premier regulatory entity for FOREX trading, the tier-one Financial Conduct Authority (FCA).
This first step of verifying regulatory compliance is crucial for protecting your investment and ensuring your money is safeguarded. This is what FOREX regulatory bodies are there to do — protect your money. Also in the article, our experts at Arincen provide you with a compilation of the Best FCA-regulated FOREX brokers.

Why is the UK an Important Financial Capital?

The United Kingdom, particularly London, holds an important position in the global financial landscape. It is one of the world's most significant financial hubs, and even post-Brexit still retains this position. 
The city’s prominence is largely due to its historical achievements, strategic geographic location, and the breadth of its financial services sector. London's status as a global financial center is underpinned by its comprehensive financial markets that encompass foreign exchange, equities, bonds, and derivatives, making it a crucial node in the worldwide financial system. 
The city's ability to attract international banks, investment firms, and insurance companies further solidifies its standing. Additionally, the UK's legal and regulatory framework, known for its robustness and transparency, plays a critical role in maintaining investor confidence and ensuring a stable and efficient market environment.
The Financial Conduct Authority’s (FCA's forward-thinking approach to regulation supports an innovative environment by providing clear guidelines and fostering a climate conducive to growth and development. This underscores the UK's critical role in the global financial market.
Best FCA-Regulated FOREX Brokers

The FCA in Brief

Why is FCA so well regarded? It serves as the UK's primary financial regulatory body, charged with the regulation of thousands of financial services firms and financial markets in the UK, including banks, insurance companies, and trading platforms, ensuring that these entities operate with transparency, fairness, and in the best interest of consumers.

The FCA is highly regarded both in the UK and internationally for the following reasons: 

  • Its rigorous and proactive approach to regulation is considered a global benchmark

  • It can enforce new rules, investigate organizations and individuals, and impose penalties or sanctions for misconduct 

  • It fosters competition and innovation through its work in supporting fintech development 

  • Its regulatory sandbox allows businesses to test innovative products, services, and business models in a controlled environment

For FOREX companies specifically, FCA plays two roles. The first is to uphold transparency. The second is to prevent scam brokers from stealing their customers’ money. For more information on the anatomy of a FOREX scam, read our article here. Given the FCA’s excellent reputation, a significant number of FOREX brokers and binary options brokers from all around the world have obtained registration from the FCA.

What Protection Does the FCA Provide FOREX Traders?

For FOREX traders, the FCA provides several layers of protection:
Licensing and Regulation: FOREX brokers in the UK are required to obtain a banking license from the FCA. This big regulatory barrier ensures that only firms with substantial capital and robust business models can operate, which instantly adds a layer of protection for traders.
Client Money Protection: Brokers are required to segregate client funds from the firm's operational funds. In the event of a broker's insolvency, your funds as a client cannot be used to pay off the broker's debts.
Risk Disclosure: Brokers under the FCA's regulation must provide clear and comprehensive risk disclosures to their clients. This ensures that traders like you are well-informed about the potential risks associated with FOREX trading.
Market Conduct Rules: The FCA sets standards for market conduct to prevent fraud, manipulation, and other malpractices. This offers traders an environment that's more transparent and fair.
Dispute Resolution: The FCA also offers a structured process for dispute resolution between traders and brokers. This includes access to the Financial Ombudsman Service, which can adjudicate complaints and provide a mechanism for resolving disputes fairly and impartially.
While the FCA's regulations offer a solid layer of protection for FOREX traders, never forget that FOREX trading inherently comes with risks. Always conduct due diligence before choosing a broker and understand the risks associated with trading.

Best FCA-Regulated FOREX Brokers 2025

Tradeview
Company Name Tradeview
Regulations SCA
Minimum Deposit $0
Main Branch New York, United States of America
ICM capital
Company Name ICM capital
Regulations FCA
Minimum Deposit 0$
Main Branch London
XTB
Company Name XTB
Regulations FCA
Minimum Deposit 0$
Main Branch United Kingdom
IG Group
Company Name IG Group
Regulations FCA
Minimum Deposit $50
Main Branch United Kingdom

Best FCA-Regulated FOREX Brokers 2025

Each UK-based FOREX broker with which you are considering opening an account ought to be licensed by FCA. Details for this should be easily accessible on FOREX companies’ websites, with each carrying a registry number. In cases where a company claims it is licensed by FCA, you can easily verify this information by visiting FCA here: https://www.fca.org.uk/. If you find results, then the company’s claims of licensing are legitimate. Otherwise, the company in question is not licensed by FCA and should be avoided at all times.

Top FCA Regulated Forex brokers

  • ICM Capital-91.10: Best Deposit and Withdrawal Broker

  • Tradeview - 90.00: Trusted broker that offers very low trading costs as well as comprehensive financial literacy materials for its clients.

  • XTB - 85.55: Best Customer Service Broker

  • IG - 85.45: Best Regulations Broker plus Convenient Platform

  • Saxo Bank - 80.09: Excellent Private Trading Platform

  • CMC Markets - 80.07: More than 9,000 Assets

  • ThinkMarkets - 80.05: Aimed at the Audience of Traders

Tradeview

Tradeview

Tradeview Markets, the parent company of Tradeview Forex, was established in 2004 and is headquartered in the Cayman Islands. It is committed to offering a broad and accessible trading environment through ECN trading with direct access to over 50 banks and prime liquidity providers, ensuring tight spreads. The broker offers access to a wide range of financial instruments, including FOREX, indices, stocks, cryptocurrencies, and commodities.
Broker Evaluation 9.40
Regulations SCA
Minimum Deposit $0
Islamic Account Yes
Payment Methods Bank Transfer, Credit Cards, Crypto, Electronic banks, local deposits
Main Branch New York, United States of America
Customer Service
Demo Account No
Trading Platforms Metatrader 4, Metatrader 5, cTrader, API/FIX

Pros

  • Variety of trading platforms, such as MT4, MT5, cTrader, and Currenex, catering to different trading preferences and strategies.
  • Provides ECN trading through its innovative Liquidity Connector®, granting direct access to over 50 banks and liquidity providers. Offers tight spreads starting from 0 pips.
  • A low minimum deposit of only $100 is required to start trading, making it accessible to a wide range of traders.
  • Offers a broad range of financial instruments, including FOREX, indices, stocks, cryptocurrencies, and commodities, thus catering to diverse trading interests.
  • Offers educational materials and a demo account, suitable for both beginners and experienced traders looking to refine their strategies.
  • Supports automated trading through the use of Expert Advisors (EA) on MT4 and MT5 platforms.
  • Regulated by CIMA, MFSA, and will soon be regulated by the UK’s Financial Conduct Authority (FCA).
  • Offers global customer service in multiple languages, catering to international traders.
  • Offers competitive leverage up to 500:1.
  • Charges no fees for deposits, making it cost-effective for traders to fund their accounts.

Cons

  • While regulated by CIMA and the MFSA, the broker is still in the final stages of becoming regulated by the tier-one FCA.
  • This means, unfortunately, that the broker currently has no way of offering compensation to affected traders if the broker goes bust. Of course, once FCA regulation is obtained, it will be mandatory for the broker to be part of the Financial Services Compensation Scheme (FSCS) where you could be entitled to compensation of up to £85,000.
  • Trades on the Innovative Liquidity Connector® account are subject to commission charges, which may add to trading costs.
  • Lacks a dedicated mobile app, relying instead on the mobile versions of its available trading platforms.
  • While offering high leverage up to 400:1 can be an advantage, it also introduces significant risks, especially for new traders.
ICM capital

ICM capital

ICM Capital is a UK-origin broker that operates worldwide. The firm provides access to diverse trading products, including FOREX, commodities, futures, and indices. ICM offers a secure and efficient trading environment by combining advanced technology with deep liquidity. The company prides itself on delivering high liquidity, tight spreads, mobile trading, and advanced technical analysis.
Broker Evaluation 9.11
Regulations FCA
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer, credit card, Electronic Banks, Crypto
Main Branch London
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms MT4, MT5, C TRADER, Web Platform

Pros

  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Long trading history from 2009.
  • More than 300,000 traders, showing trust.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.
  • Competitive spreads
  • ECN spreads starting from zero pips.
  • Fast execution and no-requotes.

Cons

  • No proprietary platform.
  • No US services.
  • Limited cryptocurrency offerings.
  • Inactivity fees which deter casual traders.
XTB

XTB

XTB is a well-regarded broker known for its low costs, extensive asset selection, and advanced trading tools. Founded in 2002 in Poland, it has created a proprietary xStation 5 platform that offers robust features like real-time performance stats, sentiment analysis, and heat mapping. XTB's educational resources are comprehensive, catering to all skill levels with video tutorials, guides, and an accessible Trading Academy. XTB is an excellent choice for cost-conscious traders looking for diverse investment options and high-quality support.
Broker Evaluation 8.55
Regulations FCA
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer, Credit Card, Electronic Banks
Main Branch United Kingdom
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms MT4, xStation

Pros

  • 20-year history of operation.
  • Regulated by the FCA (UK) and CySEC in Cyprus.
  • Globally recognized, having won multiple awards.
  • Some of the lowest FOREX spreads in the market.
  • Offers protection for client accounts.
  • Emphasis on customer service.
  • Excellent support, as well as learning and research tools.

Cons

  • Does not accept US clients.
  • Number of instruments offered is average-sized.
  • No GSLO.
  • No back-testing or automated trading capabilities.
  • No social trading.
IG Group

IG Group

IG Group is a highly regarded publicly traded broker that is licensed by 10 regulatory bodies, including the FCA, in its home base of the UK. It offers more than 20,000 financial assets to trade, including currencies, commodities, regular stocks, contracts for difference stocks, ETFs, indices, and cryptocurrencies. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
Broker Evaluation 8.54
Regulations FCA
Minimum Deposit $50
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms IG Trading, MT4,ProRealTime,L2 Dealer

Pros

  • Intuitive mobile and tablet platforms.
  • Low spread costs.
  • Client education offering extensive research materials.
  • Regulated by many reputable authorities.
  • UK and EU clients get negative balance protection.
  • Financially stable and publicly-listed.
  • Rapid response to customer service queries.
  • Extensive range of trading assets.
  • Powerful social trading community.

Cons

  • U.S. clients are limited to FOREX trading only.
  • U.S. clients do not receive negative balance protection.
  • IG CFD prices can be high by industry standards.
  • Limited product portfolio of only CFD and options in many countries.
SAXO BANK

SAXO BANK

Saxo Bank is a well-established, low-risk broker based in Denmark, offering a wide range of trading services to sophisticated traders, institutions, and professional investors. It operates under strict regulatory oversight in multiple tier-1 jurisdictions, ensuring a secure environment for trading. The broker provides advanced trading platforms such as SaxoTraderPRO and SaxoTraderGO, catering to high-volume and professional traders with competitive spreads and access to over 71,000 instruments.
Broker Evaluation 8.09
Regulations FCA
Minimum Deposit 10,000$
Islamic Account No
Payment Methods Bank transfer, Credit Card
Main Branch Copenhagen, Denmark
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms SaxoTrader

Pros

  • Extensive range of offerings.
  • Offers portfolio-based margin trading for pros.
  • Regulated by top regulators.
  • Excellent trading platforms.
  • Diverse account types.
  • Among the industry’s best research tools.
  • Offers protection for client accounts.
  • No inactivity fee.
  • No platform fees.
  • No minimum funding for entry-level accounts.

Cons

  • Some bonds, options, and futures fees are high.
  • With so many assets, fees can be confusing.
  • High minimum deposit for Platinum and VIP accounts.
  • Does not accept US clients.
  • No MT4 for traders who are used to the platform.
  • No GSLO.
  • No Islamic accounts.
CMC MARKETS

CMC MARKETS

CMC Markets is a global CFD and FOREX broker established in 1989. It is regulated by several authorities globally. The company delivers a formidable offering for traders thanks to excellent pricing, nearly 12,000 tradable instruments, and its proprietary Next Generation trading platform. The platform comes packed with quality research, innovative trading tools, and powerful charting. CMC provides traders access to an extensive range of CFDs and spread betting offerings across several different asset classes.
Broker Evaluation 8.07
Regulations FCA
Minimum Deposit 0$
Islamic Account No
Payment Methods Bank transfer, Credit Card, Electronic Banks
Main Branch United Kingdom
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms Proprietary Platform, MT4, Web Platform

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK) and other top regulators.
  • Low FOREX fees.
  • Emphasis on education and customer service.
  • Great Web and mobile platforms.
  • Offers protection for client accounts.
  • Research amenities are industry leading.

Cons

  • Does not accept US clients.
  • High CFD spreads for certain indices.
  • It only offers CFD trading, so traders cannot own the underlying asset.
  • Does not support deposits and withdrawals through electronic payments.
think markets

think markets

ThinkMarkets is a multi-regulated broker with offices around the globe. The firm is primarily a CFD broker, allowing you to trade across 4,000 instruments in FOREX, futures, commodities, indices, ETFs, crypto, and stocks. With an emphasis on superior customer service, ThinkMarkets maintains round-the-clock support in several languages. It provides different trading accounts suited to individual trader needs. This includes zero-commission accounts and access to trading guides, analysis tools, and industry news feeds.
Broker Evaluation 8.05
Regulations FCA
Minimum Deposit $0
Islamic Account Yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch Australia
Customer Service Market Opening Hours
Demo Account Yes
Trading Platforms Proprietary Platform, Web Platform, MT4, MT5

Pros

  • Beginner assistance is offered through round-the-clock channels.
  • Spreads are as low as 0.0 pips.
  • Round-the-clock expert customer service.
  • CFD shares and indices come at no extra fee.
  • Zero broker fees for FOREX trading.
  • Technical analysis and quality market information.

Cons

  • No binary options are offered.
  • Commissions are charged for two account types.
  • Range of tradeable assets is not as wide as some competitors.
  • No US clients allowed.

There is a high degree of risk involved in trading securities like FOREX, or CFDs, which are highly complex instruments. As a trader, you could be exposed to excessive leverage, questionable broker tactics, market volatility, and limited regulatory protection. Despite your best trading techniques and risk management strategies, your efforts may not be profitable, and you could suffer losses.

How Much Money Do You Need to Get Started?

The amount of money you need to start retail FOREX trading can vary widely depending on several factors, including the broker you choose, the trading platform, the type of account, and your trading strategy. Some key points to consider include:
  • Brokers have different minimum deposit requirements for opening an account, which can range from as low as $5 to $500 or more
  • Your trading strategy and how you manage risk will influence the amount of money with which you should start
  • Consider the costs of trading, including spreads, commissions, and any other fees charged by the broker
As a general guideline, starting with under one hundred dollars is often enough for a small, personal account, especially if the broker offers micro or mini lots that allow for smaller transactions. The amount is really up to you. However, it is recommended that you start by placing small trades to get to grips with the practice of trading as well as your broker’s website before you move on to placing trades with more money.

How to Avoid Scams Through the FCA

FCA takes several measures to help traders and investors avoid scams and ensure the integrity of the UK financial marketplace:
Public Warnings: If FCA finds out about entities operating without the necessary licenses, it issues public warnings. The regulator maintains a warning list on its website, alerting the public about brokers that might be conducting unauthorized activities.
Regular Supervision: FCA constantly supervises licensed institutions to ensure they comply with UK regulations. Regular checks and oversight decrease the likelihood of licensed entities engaging in scams or fraudulent activities.
Consumer Education: While it may not be a direct service, the presence of a robust regulatory body like FCA indirectly educates and informs consumers about the standards they should expect from financial entities. Knowing that a financial institution is regulated by FCA can offer consumers a level of confidence.
Investigations and Enforcement: If there's any suspicion or indication of a scam or fraudulent activities, FCA can launch an investigation. If a financial entity is found to be in violation, the FCA has the authority to enforce punishment, which can include penalties or revoking licenses.
While FCA plays a crucial role in safeguarding traders and investors from scams, it's always important for individuals to conduct their own due diligence. Being informed and cautious can significantly reduce the risk of falling victim to scams or fraudulent schemes.

A regulated broker adheres to a stringent set of guidelines and operational standards, designed to ensure transparency, security, and integrity in all transactions. Electing to trade with an unregulated broker amplifies the risk of financial loss, fraud, and exposure to unethical practices. For a list of the best regulators, read our article here.

What to Look for Among the Best FCA-Regulated Brokers?

Here’s how we suggest you go about choosing the best FCA-regulated broker for your needs:

FCA-regulated: It sounds obvious, but check and double-check that every broker you consider holds the esteemed FCA license.

All traders welcome: Make sure the broker you choose is UK-based and accepts local traders and foreign traders, too.

Reputation is paramount: Be careful to only consider brokers with an ironclad reputation, meeting, if not exceeding, the industry's stringent safety benchmarks.

Competitive fees: You should zero in on brokers boasting low floating spreads and competitive per-trade commissions. For more information on how spreads work, read our article here.

Feature-packed platforms: Beyond usability, try to find a broker whose platform is packed with analytical tools to give you that cutting edge.

Diverse account offerings: Recognizing that one size doesn't fit all, consider brokers with a broad spectrum of account types—catering to newbies and elite traders with varied strategies.

Diverse instruments for every trader: Every broker should ensure traders have access to a rich mix of instruments across multiple asset classes.

Tip for those who have no experience
We believe that a solid foundation in education and research is essential for every successful trader. That’s why we’ve created a set of resources specifically for you. Our comprehensive articles provide an understanding of the basics, while our videos offer insights from industry insiders. Stay updated with the latest developments in the market through our newsfeed, signals, and detailed analytics.

Commission and Fees

This area of consideration is crucial and requires your close attention. For a start, FCA-regulated brokers must offer you a competitive fee package. Trading fees can sometimes be difficult to track. Be sure to check how these fees compare with industry standards:

Spreads: There are two main kinds of spread, one is fixed and the other is variable. Generally, the spread refers to the difference or gap between two prices, such as the bid/ask rate in a currency exchange rate. An example of a good spread is 1.4 pips for the EUR/USD (the narrower the better, this means that a spread of 1.4 pips is better than a spread of 2 pips). To find out more about pips, go here.

Commission: Commission fees are charges levied by brokers for executing trades. They are often quoted in terms of dollars per lot traded or as a percentage of the trade volume. Not all brokers charge commission fees. Some operate on a no-commission basis and make money through wider spreads instead. Commissions are more common in Electronic Communication Network (ECN) environments, where brokers offer direct access to the currency markets.

Rollover fees (Swap fees): These fees are interest fees for when a FOREX position is held overnight. This fee is determined by the difference in interest rates between the two currencies being traded.

Withdrawal and deposit Fees: These are fees charged by some brokers for depositing or withdrawing funds from your trading account. The amount and structure of these fees can vary greatly among brokers.

Subscription or inactivity fees: These are periodic charges for accessing a broker's trading platform or premium features. Inactivity fees are charged when an account has not executed any trades for a certain period. Not all brokers charge these fees.

Spread Commission Swap Islamic Account
Currencies Starting from 1.3 Pips 0$ No Available
Stocks Starting from 18 Pips 0$ Yes Unavailable
Commodities Starting from 2.3 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.14 Pips $0 No Available
Stocks Starting from 0 Pips $0 No Available
Commodities Starting from 2 cent $0 No Available
Indices Starting from 0.2 Pips $0 No Available
Spread Commission Swap Islamic Account
Currencies Starting from 0.2 Pips 0$ No Available
Stocks Not Mentioned 0$ Yes Unavailable
Commodities Starting from 8 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.6 Pips 0$ Yes Unavailable
Stocks Starting from 2.4 Pips 0$ Yes Unavailable
Commodities Starting from 0.1 Pips 0$ Yes Unavailable
Indices Starting from 0.2 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.9 Pips $0 Yes Unavailable
Stocks Starting from $0.02 $6 Yes Unavailable
Commodities Starting from $0.6 $6 Yes Unavailable
Indices Starting from $0.7 $6 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.5 Pips $0 Yes Unavailable
Stocks Starting from $0.2 $10 Yes Unavailable
Commodities Starting from 0.2 Pips $0 Yes Unavailable
Indices Starting from 0.5 Pips $0 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips $0 Yes Unavailable
Stocks Starting from 0.1% $0 Yes Unavailable
Commodities Starting from $0.19 $0 Yes Unavailable
Indices Starting from 0.4 Pips $0 Yes Unavailable

Using Leverage with FCA-Regulated Brokers

This is linked to our point above about regulation. Different regulators have different guiding policies in leverage. FCA-regulated brokers must abide by the below-mentioned rules around leverage:

  • 30:1 for major currency pairs   

  • 20:1 for non-major currency pairs, gold, and major equity indices   

  • 10:1 for commodities other than gold and non-major equity indices   

  • 5:1 for individual equities and any underlying not otherwise mentioned  

  • 2:1 for cryptocurrencies

Brokers operating in the UK under the FCA are expected to follow strict risk-management protocols, and they are required to ensure that their clients are trading within their means and understand the risks associated with leverage.

Retail traders should be cautious when trading with high leverage due to the significant risks involved. While leverage can increase gains, it can also magnify losses. You should be careful when trading with high leverage, that’s why you need the right knowledge and experience to handle the highs and lows that come with this form of trading.

The FCA and Negative Balance Protection

The FCA mandates negative balance protection for retail clients. This regulation ensures that retail traders cannot lose more money than they have deposited in their trading accounts. This protection was introduced as part of a package of measures while the UK was still part of the European Union aimed at increasing the safety of retail clients trading leveraged products, such as FOREX and Contracts for Difference (CFD). The rules around negative balance protection are designed to provide an additional layer of security for traders, ensuring that their losses are limited to the capital they have available for trading.

Tradable Assets and Instruments

Some of the most common assets are FOREX, commodities, crypto, bonds, and more. All the top FCA-regulated brokers normally have these bases well covered. Some brokers choose to concentrate on FOREX, while others may be strong in other areas. It depends on your interests. When comparing brokers, a handy hint is to create a spreadsheet where you compare the numbers of the tradable assets you may want to trade.  Remember that the availability of tradable assets varies depending on the broker and trading platform being used.

Brokers Currency pairs Stocks Indices Commodities Crypto ETFs
Tradview 80 Pairs 5000 Shares 10 Indices 10 Commodity 30 Coins Unavailable
ICM Capital 67 Pairs 89 Shares 17 Indices 12 Commodity 6 Coins Unavailable
XTB 57 Pairs 1848 Shares 36 Indices 22 Commodity 22 Coins 135 ETFs
IG 81 Pairs 21714 Shares 49 Indices 39 Commodity 11 Coins 12858 ETFs
Saxo Bank 320 Pairs 22000 Shares 49 Indices 39 Commodity 9 Coins 6700 ETFs
CMC Markets 330 Pairs 8000 Shares 80 Indices 100 Commodity 18 Coins 200 ETFs
Think Markets 46 Pairs 3750 Shares 15 Indices 11 Commodity 21 Coins 350 ETFs

Payments, Deposits, and Withdrawals

Ideally, the payment deposit and withdrawal process among FCA-regulated brokers should be straightforward and convenient. As we have mentioned, the UK has a modern financial infrastructure, and its banking system is advanced, making transactions, including withdrawals from brokerage accounts, relatively straightforward for all traders. The best brokerages offer multiple withdrawal methods, including bank wire transfers, credit/debit card transactions, and even online payment systems. The efficiency of these methods can vary, with wire transfers to UK banks typically taking several business days, whereas online payments tend to be much quicker.
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1.9% 2.5% Unavailable 3.75%
Withdrawal fee 0$ $15 1% $0 Unavailable 2%
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ 0$ 1.9% 2.5% $0 3.75%
Withdrawal fee 0$ 0$ 1% $0 $0 2%
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1% 1% Unavailable Unavailable
Withdrawal fee 1.5% 30$ 1% 1% Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 0$ 2.5% Not mentioned Unavailable
Withdrawal fee 0$ $0 + Bank commission 5.50$ 0-7.5% Not mentioned Unavailable

The Importance of Customer Service

As timing is key to FOREX trading, you must pick a FCA-regulated broker that can provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast, and polite, which in turn will spare you having to worry about problems later. The best FCA-regulated FOREX brokers will be able to provide you with the following:
  • Quick resolution of issues
  • Educational support
  • Assistance with queries during volatile markets
  • Account Security
  • Customized advice (although not all customer service desks offer this)
  • Technical assistance
    Regulatory compliance queries
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Quick response Fast Fast Fast
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Very Fast
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Moderate Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Very Fast Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Slow Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Moderate Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Moderate Fast Moderate Not Available

Ask Other Traders on Our Network

Here at Arincen, we’ve gone to extensive lengths to create an enabling environment of networks, where traders of all backgrounds can take part in a vibrant trading space. After all, Arincen’s goal is to simplify the world of trading. Our website provides an unrivaled slate of tools, like our market-leading signals, rolling news, and a thriving community where traders of all levels of experience can learn and profit from each other.

Trading Platforms, Tools, and Features

As the UK is such a vibrant trading space, all brokers based in the country provide a range of tools to enhance your trading experience. They can hardly be complacent in this regard as they will quickly be overtaken. Some brokers have their own proprietary platforms, while such tried-and-tested industry favorites as MT4, MT5, and cTrader will serve others.  For a helpful comparison of the two MetaTrader platforms, read our article here. The UK is a technologically advanced country that supports brokers who require the fastest networks to support high-volume trades.

With FCA-regulated brokers, you will generally have access to advanced platforms with deep market access and extremely high platform uptime. Be sure to check on all these points before you settle on your chosen broker.

Tips to Get Started Trading with a FCA-Regulated Broker

Opening a FOREX trading account is easy. Once you have chosen your preferred FCA-regulated broker, you must start by filling out an application form as part of the “open account” process. It is normal that you will be asked to provide two documents. These are usually your national identity documents and proof of address. This is part of Know Your Customer (KYC) regulations. Remember that some brokers have slightly different requirements than others.

Once your account has been approved, normally one to two days after you make the application, you will be able to fund your account by making the first deposit. After your account is funded, you can start to trade.

How to Improve Your Knowledge of FOREX Trading

A trading website like Arincen is a great place to start. We have a large list of curated articles that can give you all the information you need on common FOREX trading terms, like pips, spreads, leverage, and support and resistance. We have also taken the time to prepare detailed articles on important topics, such as FOREX trading strategies. Additionally, once on our Website, you will find helpful video courses that cover the basics of FOREX trading. With this range of knowledge, you will be well on your way to trading success.

Remember also that your broker will normally have developed a detailed education and research repository itself. That is also a good place to bolster your FOREX knowledge, with the extra benefit that your broker’s information will be slanted toward its own platform and resources, which makes it doubly useful.

As such, it’s relatively easy to improve your knowledge of FOREX trading. All the following items should be part of an FCA-regulated broker arsenal, and they should all help you improve your knowledge of FOREX trading.

Educational content: For beginners, educational resources are crucial. Look out for platforms offering webinars, tutorials, articles, and even demo accounts to familiarize users with trading concepts.

Analytics tools: The platform should offer robust analytical tools and many methods to evaluate trader performance. This includes historical returns, risk metrics, trading strategies, and more.

Community engagement: A vibrant community can provide peer reviews, insights, and discussions, which can be invaluable for both novices and experienced traders.

Real-time data: This is the lifeblood of social trading. Make sure your broker gives you access to live market data, news updates, and economic calendars that can help in making informed decisions

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

Filing a Complaint Against a FOREX Broker

In the rare cases where your FOREX broker has unlawfully tampered with your account, you can file an official complaint with FCA by visiting the following link https://www.fca.org.uk/.

It is very unlikely that an FCA-licensed company would dare meddle with your account for fear of the repercussions that may result. These include canceling the company’s FCA license and/or closing it down altogether.

Let’s Recap

The FCA is a well-respected tier-one broker. Its sweeping powers extend beyond only FOREX brokers and reach banks and other high-value financial institutions. This regulator imposes strict regulations to ensure every retail trading operation in the country runs smoothly. It is thus not a surprise that FCA has developed a reputation for being the most progressive and consistent regulator in the world.
Its stringent measures have only done good for consumers of UK financial services. If you are looking to get into FOREX trading, then finding an FCA-regulated FOREX broker is certain to keep you safe and well-protected, whether you are a UK-resident or not.

Arincen’s Review Methodology

The team at Arincen collected more than 120 pieces of data covering more than 100 licensed FOREX companies. Data collection was done in three ways:

  1. Companies’ websites.

  2. Other websites that have ranked FOREX companies.

  3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its relative weight. These include licensing, deposits and withdrawals, number of assets, etc.     

Afterwards, we validated the data by:

  1. Registering with FOREX companies as a secret shopper and/or as Arincen.

  2. Survey number “2,” in which we asked these companies’ customers for important feedback and experience.

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were cautious in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung, etc.

To add credibility to our research project, we sent a third and final survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more about how we came up with the evaluation, please click here.

FAQ

What is FOREX trading?

FOREX trading involves buying one currency while selling another, aiming to profit from the changes in their relative values.

Can I trade with non-FCA-regulated brokers in the UK?

Yes. It’s perfectly acceptable for you to open an account with an EU broker that is bound by the rules of MiFID II. You can even sign up with an offshore broker. Just remember that if your broker is not FCA-regulated, you won’t get access to the regulator’s protections.

How do you know if a broker is regulated?

Check a broker's regulatory status. First, all FOREX brokerages should have their licenses and regulations displayed on their website. Second, visit the FCA’s website to check the registry of compliant brokers.

Is my money safe?

The FCA does a good job of ensuring this. If the worst comes to the worst and your FCA-regulated broker folds, traders in the UK are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per eligible person, per firm.

How do I choose a broker?

Research and compare brokers based on factors like regulations, spreads, the leverage offered, platform usability, customer service, and client reviews. It's essential to select a broker regulated by a reputable authority.

Is FOREX trading taxed in the UK?

Yes, FOREX trading is subject to taxation in the UK, but the specifics depend on the nature of the income and the individual's tax status. There are different requirements for casual traders versus professional traders. To learn where you stand, we would encourage you to consult with a tax specialist.

How much money do I need to get started?

Different brokers have different minimum deposit requirements. Some brokers allow you to open accounts with as little as $1, while others might require $500, $1,000, or more. How much you should start with depends on your goals, strategy, risk tolerance, and the parameters your chosen broker sets.

Can I trade FOREX in the UK without a broker?

We wouldn’t advise it, although, technically, it’s possible. Just know that it’s not really practical for retail traders. For the casual investor, brokers offer a far more accessible entry point into FOREX trading. They provide trading platforms, leverage, and other tools that make trading possible for individual clients.

What happens if you use an unregulated broker?

It's possible to use an unregulated broker, but you would be exposing yourself to grave risks. If something goes wrong, you may have limited or no recourse to recover your funds. You may also be exposed to scams as unregulated brokers may engage in fraudulent activities, such as manipulating prices, executing unauthorized trades, or misappropriating client funds.

What is leverage?

Leverage in financial trading refers to the ability to control a large position with a relatively small amount of capital. It's a tool provided by brokers that amplifies a trader's capacity to trade by allowing them to deposit a fraction of the full value of their trade. This magnifies both potential profits and potential losses.

Is FOREX trading risky?

Yes, Forex trading involves significant risk. It's possible to lose more than your initial investment, especially when using high leverage. Proper risk management strategies are crucial.

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