FCA Regulated Forex Brokers in UK

British Forex brokers are licensed by the Financial Conduct Authority (FCA), a reputable regulatory body founded in 2013, which works in collaboration with the Bank of England and the Prudential Regulation Authority. The FCA also collaborates with MiFID allowing Forex brokers to operate outside the borders of the United Kingdom, extending to other European countries. FCA requires regulated brokerage firms to keep client funds in separate accounts at high-level banks and to separate them from their assets to provide additional protection for client funds. FCA brokers are required by regulation to have the mandatory capital requirement to operate. In addition, they are members of the “FSCS” which compensates clients’ funds up to £ 85,000. Below is the complete list of FCA regulated Forex brokers.

These established regulated Forex brokers

are licensed with the FCA

HYCM

Min Deposit $100
Fixed, Classic, Raw
Leverage up to 1:200
Floating & Fixed Spreads

Forex, Stocks, Indices, Cryptocurrencies
MT4 & 5, Web, Mobile Platforms
Bank wire, Credit cards, Webmoney, Skrill
& Neteller

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Regulation: CySEC, FCA
FCA license: #186171
Year Founded: 1999
Headquarters: Cyprus

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Exness

exness-review

Min Deposit $1
Cent, Mini, Classic, ECN
Unlimited leverage
Floating & Fixed Spreads

Forex, CFDs, Metals, Energies
MT4 & 5, Web, Mobile Platforms
Bank wire, Credit cards, Webmoney, FasaPay, Skrill, Neteller, PerfectMoney & more

_________________________________

Regulation: CySEC, FCA
FCA license: #730729
Year Founded: 2008
Headquarters: Cyprus

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Forex Time

Min Deposit $5
Cent, Micro, ECN
Leverage up to 1:1000
Floating Spreads

Forex, CFDs, Metals, Energies, Stocks
MT4 & 5, Web, Mobile Platforms
Bank wire, Credit cards, Webmoney, Skrill, Neteller, PerfectMoney.

_________________________________

Regulation: FCA, CySEC, IFSC
FCA license: #600475
Year Founded: 2013
Headquarters: Cyprus

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XM

xm-logo, xm broker review

Min Deposit $5
Micro, Standard, Zero
Leverage up to 1:888
Floating Spreads

Forex, CFDs, Metals, Energies, Stocks
MT4 & 5, Web, Mobile Platforms
Bank wire, Credit cards, Webmoney, Skrill, Neteller, PerfectMoney

_________________________________

Regulation: FCA, CySEC, ASIC
FCA license: #705428
Year Founded: 2009
Headquarters: Cyprus, UK, Australia

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FCA Regulated Forex Broker

 

The Financial Conduct Authority is an independent supervisory body responsible for regulating and authorizing financial markets and financial services companies based in the United Kingdom. The organization is also held accountable by the UK Treasury and Parliament. The Financial Services Authority (FSA), the predecessor of the current British regulator (FCA), has been accused of numerous scandals during the recent economic crisis in the United Kingdom. This crisis led to serious reforms sanctioned by the British government, which led to the creation of the “FCA” and the “Prudential Regulation Authority” (PRA) as new reformed regulatory bodies. These reforms brought a whole new face to the financial services industry that was more efficient and effective.

In essence, Forex brokers that were previously regulated and supervised by the FSA are now under the full authorization of the FCA and the PRA. The new regulators were authorized to intervene and disrupt practices if they were contrary to the regulations in force and did not have to wait to apply these disciplinary measures after the fact or the occurrence of such scandals.

The FCA ensures that the ethics and integrity of businesses are controlled in all financial activities, and each investor or trader receives fair treatment so that the economy can thrive in its entirety. The FCA oversees the business conduct of more than 56,000 companies (including FCA-approved Forex brokers) in the UK alone, in addition to regulating more than 18,000 companies as a prudential regulator. Everything related to finance, from credit cards, loans, pensions and large investments in giant financial entities that influence the economy in one way or another, is under the control of FCA .

Three main objectives are at the top of FCA’s priorities; primarily to protect customers at all costs by providing financial security, secondly to monitor the financial markets while preserving the morals and honesty of the UK financial system as a whole, and thirdly to provide a safe and competitive environment for customers in the hope to lead to economic growth. FCA also collaborates with consumer groups, professional associations, professional bodies, national regulators, EU legislators, as well as many other shareholders.

 

FCA Compensation Schemes for Forex Brokers clients

 

The Financial Services Compensation Scheme (FSCS), founded in 2001 as another section of the FCA and established under the Financial Services and Markets Act 2000 (FSMA), is a deposit insurance and compensation scheme designed to protect the assets of investors. involved in financial services companies regulated by the FCA.

Essentially, when a business cannot meet its financial obligations to customers, the FSCS intervenes to compensate for the financial losses that customers have suffered. The compensation scheme of the FSCS, financed by levies on companies regulated by the PRA and the FCA, covers deposits, insurance policies, insurance brokerage (including travel agencies and holiday providers who sell said policy), investments, mortgages and mortgage agreements. In addition, European companies regulated by regulators from the British home state are also covered by the FSCS.

The compensation services provided by the FSCS are completely free and automatic, and you would be reimbursed for your losses if something happened to your financial service provider or if it could not pay the claims against it. It goes without saying that the FCA and the PRA set the limits of the protection offered by the FSCS. Consequently, claims relating to deposits, life insurance and general insurance policies are supervised by PRA, and other types of commercial compensation are authorized by FCA. In the event of bankruptcy, UK banks, mortgage companies, credit unions and regulated investment firms (including Forex brokers) are protected up to £ 85,000 (in 2017) per person, and if l savings are in a joint account, the amount of compensation will double and reach £ 170,000.

 

How to check FCA regulated Forex broker?

 

To find out if a financial company is regulated by the FCA, you must go to this address, https://register.fca.org.uk/ and search for the name of the company to obtain the information you need. At the top of the page, you will see a search field with the following description: “Search by company, person, product, reference number or postal code”. You can use any of this information to find the business you are interested in, just make sure you have the correct spelling to avoid mistakes. Below the search field, in the left corner, there is another option called “Advanced Search”, which you can use to further target your request. Here you can specify the type of business you are looking for, such as a firm, individual or collective investment plan, as well as the status of the business (authorized, not authorized, etc.).

Do NOT follow this link or you will be banned from the site!