Best FCA Regulated Forex Brokers for 2024
After extensive research and evaluation, the FX Trust Score team has compiled a lean selection of the Best FCA Regulated Forex Brokers for 2024. We believe it is a useful starting point for traders, especially those looking to avoid the risks of trading with unregulated brokers.
Established in 2013, the FCA is the UK’s principal financial regulatory body and is responsible for overseeing the regulation of a wide range of financial services. The FCA ensures that banks, investment and insurance companies adhere to strict standards of conduct and compliance.
Traders based both in the UK and internationally who are looking for a reliable forex broker, can trust those licensed by the country’s leading industry regulator; the Financial Conduct Authority (FCA). Take a look at our Toplist of FCA regulated forex brokers and compare and contrast each of their key features, before going ahead and opening an account.
Overview of FCA Regulated Forex Brokers
Broker Name: Tickmill
Established: 2014
UK Office: London
Minimum Deposit: $100
Accepts UK Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Comprehensive educational materials
✅ Highly competitive trading conditions
❌ High minimum deposit
Broker Name: Forex.com
Established: 2001
UK Office: London
Minimum Deposit: $100
Accepts UK Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Good range of trading platforms
✅ Advanced trading toolkit
❌ High minimum deposit
Broker Name: Oanda
Established: 1996
UK Office: London
Minimum Deposit: $0
Accepts UK Clients: Yes
Copy Trading: No
Negative Balance Protection: Yes
Pros & Cons
✅ Comprehensive tools and resources
✅ Good range of trading platforms
❌ No copy trading features
Broker Name: IG
Established: 1974
UK Office: London
Minimum Deposit: $0
Accepts UK Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Extensive range of trading instruments
✅ Good platform lineup
❌ Educational offering could be better
Broker Name: CMC Markets
Established: 1989
UK Office: London
Minimum Deposit: $0
Accepts UK Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ High number of trading instruments
✅ No minimum deposit
❌ No MetaTrader 5 (MT5)
FX Trust Score Comparison of FCA Regulated Forex Brokers
| Broker | FCA Regulatio | UK Office | Trading Platforms | Average GBP/USD Spread | Customer Support |
| Tickmill | Licence number: 717270 | 27-32 Old Jewry, 3rd Floor, London, EC2R 8DQ | MT4, MT5 | 0.3 pips | 24/5 |
| Forex.com | Licence number: 446717 | Moor House, 120 London Wall, London, EC2Y 5ET | TradingView, MT4, MT5 | 1.4 pips | 24/5 |
| OANDA | Licence number: 542574 | Dashwood House,69 Old Broad Street, London, EC2M 1QS | TradingView, MT4, MT5 | 0.9 pips | 24/5 |
| IG | Licence number: 944492 | Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA | ProRealTime, L2 Dealer, MT4 | 1.8 pips | 24/5 |
| CMC Markets | Licence number: 173730 | 33 Houndsditch, London, EC3A 7BX | MT4 | 1.0 pips | 24/5 |
The FXTS Verdict – Which are the Best FCA Regulated Forex Brokers?
This detailed review was compiled with the primary aim of noting the best FCA regulated forex brokers for 2024. Factors assessed include each broker’s official FCA broker licence number and the addresses of their UK-based offices. Further analysis was carried out on a range of trading-related factors, such as the trading platforms offered, customer support availability, and the average GBP/USD spreads listed on their websites.
All things considered, IG, Forex.com, and OANDA have the edge on the top five FCA regulated forex brokers thanks to their comprehensive trading platform suites. However, each listed broker has something different to offer traders in the UK, whether it is a high number of tradable instruments, advanced trading tools, exhaustive educational resources, or copy trading features. Traders are advised to conduct thorough research into all the brokers above prior to signing up as a client and opening an account.
FAQs
Look for brokers that offer advanced trading platforms, low spreads and commissions, high leverage options, and a wide range of currency pairs. Excellent customer service, comprehensive educational resources, and solid security measures are also very important. Additionally, ensure that the broker is regulated by reputable authorities like the FCA, ASIC, or CySEC.
Technological innovation is crucial. The best brokers should offer platforms featuring fast execution, real-time access to market data, and tools that allow for automated trading. Mobile trading capabilities and integration with third-party tools and platforms are also important for traders on the go.
Regulation is paramount as it ensures the broker adheres to specific operational standards and offers trader protection measures such as segregated client accounts and participation in compensation schemes. Always choose a broker regulated in a jurisdiction with a strong regulatory framework.
Expect innovative features like enhanced AI capabilities for market analysis, improved risk management tools, and more personalised customer support through AI chatbots. Brokers might also offer increased integration with social trading platforms and blockchain technology for greater transparency in transactions.
The best maintained educational sections tend to feature a wealth of useful resources, including webinars, e-books, and interactive courses. Having a comprehensive range of educational material can significantly affect a broker’s appeal, particularly for new traders. Additionally, responsive and knowledgeable customer support, particularly if it is offered 24/7, can greatly enhance the trading experience.
It’s crucial to understand the fee structure, including spreads, commissions, and potential account maintenance or inactivity fees. Brokers should offer clear transparency about their pricing models and ensure that traders can execute trades without excessive costs.
