Trading forex (currencies) in the United Kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the Financial Conduct Authority (FCA), which is the financial regulatory body in the UK. The FCA's website is FCA.org.uk. We recommend UK residents also follow the FCA on twitter, @TheFCA.
The FCA was formed out of the Financial Services Act of 2012, effectively replacing its predecessor, the Financial Services Authority (FSA). For a historical breakdown, here's a link to Financial Conduct Authority webpage on Wikipedia.
Best UK Forex Brokers List
To find the best forex broker in the UK, we created a list of all FCA authorised brokers, then ranked brokers by both trustworthiness, as well as their Overall ranking from the ForexBrokers.com 2018 Review. The result is our top forex brokers list for the UK.
|FCA Regulated (UK)||Average Spread EUR/USD - Standard||Minimum Initial Deposit||Trust Score||Overall|
|AxiTrader||Yes||1.24||$0.00 - $1000||75|
How to Verfiy FCA Authorisation
To identify if a forex broker is regulated by the FCA, the first step is to identify the register number from the disclosure text at the bottom of the broker's UK homepage. For example, here's the key disclosure text from IG's website,
Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority."
Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG Markets Limited.
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