Compare Forex Brokers UK 2021

Best UK Forex Brokers

Find above a comparison table with the best online forex brokers in the United Kingdom, and the basic things to consider before opening an account like:

• Trust Index:  The financial reputation of the company including Financial Conduct Authority (FCA) regulation, negative balance protection, deposit held, year founded,…
• Trading platforms and tools: Trading platform (Metatrader, web-based and mobile), chart tools, VPS service,…
• Instruments: All assets available for trading.
• Trading conditions: Here we include the average spreads for most popular currency pairs, the complexity of orders, execution, assets available for trading, leverage,…
• Trading Accounts:  Type of accounts offered by the broker ( standard, demo, micro, Islamic,..).
• Other features: minimum deposit, education tools, promotions, customer support and deposit/withdrawal options.

All brokers and platforms listed here are regulated by the Financial Conduct Authority.

Here is our list of the best brokers Australia:

• Pepperstone: Best Forex broker UK
• Plus500: Best CFD platform.
• XM: Best Global Broker
• XTB

FCA Forex Brokers: An insider’s view

The UK has an overall strict financial regulatory system. The laws apply firmly over the Trading and Finance Industry. Moreover, the FCA forex brokers, authorized by the Financial Conduct Authority (FCA), offer financial and trading services. 

The UK forex brokers serving in the country need to acquire a license from FCA. It is one of the stricter and competent authorities in the whole of the EU and the UK. 

It protects the interests of the investors. If the FCA-regulated forex broker goes bankrupt, their clients are covered up to £50,000. 

You can check out the name of the authorized brokers from the FCA online portal. It presents updated data about investors. It will help you to choose the right broker.

This is an insider’s view on FCA and the regulated forex brokers. But, there is more to the regulations and laws made by the Financial Conduct Authority, UK. Let’s get a sneak peek into this competent authority.

FCA: Who They Are and What They Do?

FCA or Financial Conduct Authority of the UK regulates the trading and financial industry. It came into existence on April 1, 2013. FCA came into force after FSA (Financial Services Authority) was abolished. The authority was created to manage market risks, especially after the ‘2008 financial crisis’. 

FCA aims to create a regulated financial market for traders to get a fair deal. Their main aim is to protect the integrity of the UK’s financial system. 

It regulates almost 59,000 financial service agencies. FCA is the ‘prudential supervisor’ for the 49,000 financial firms. For 19,000 agencies, it has set up specified regulatory standards.

Now, what is the role of FCA? Here’s what you need to know:

• Regulate the UK’s forex trading and financial market functions
• Overlook the functioning of the market by making it safe for businesses and individuals
• Promote the soundness and safety of financial firms
• In case of a breach of conduct, take disciplinary actions against the broker or the firm
• Investigates and carry out ‘criminal proceedings’ against any executive-level crimes
• Imposes penalty for misuse of power and issues ‘public statement’ against the perpetrators too 
• Provide transparency of the UK market by offering an honest and fair view of the market

So, this is what UK’s FCA does to prevail integrity in the money market. But, it is necessary to take services of the FCA-regulated forex brokers. Read onto know why?

Why Traders Prefer FCA Regulated UK Forex Brokers?

FCA is keen on traders and customer protection. The authority is ‘investor-centric’ that makes it safe for users. It is mandatory to opt for UK forex brokers regulated by FCA. Here’s why?

• No Maximum Financial Cap: Trading with FCA-regulated forex broker will not put unnecessary restrictions. There are no limitations to scalping or hedging strategies.
• Provides Modern Financial Products: Get your hands on the innovative market and trading products. You can choose Binary Options Trading, CFD trading, and Spread Betting. Enjoy tax breaks in the UK with a Spread Betting option.
• Separate Accounts for Keeping Funds: FCA-certified broker will keep your funds in the ‘segregated account’. You can also avail of negative protection against your balances.
• Submission of Audited Reports: FCA requires audited reports yearly. Even brokers have to submit financial statements periodically.
• Protection of Trader’s Capital: FCA has removed versatile financial crimes and frauds in recent years. The transparent working and displaying financial reports make them respectable and trustworthy. FCA-based forex brokers stick to strict guidelines that protect investor’s capital in return.

Final Words

FCA regulations have given a new face to the UK’s forex trading. The investors can now safely invest with the FCA-regulated brokers. Besides, it gives them a sense of belongingness and safety. Even their finances are safe and leveraged by FCA brokers. 

The focus of FCA is to make the UK’s financial market innovative and compliant with the latest rules. FCA deems that it is necessary to prevail overall financial security to avoid any capital loss. 

The authority wants the investors to put their trust in the sophisticated UK trading market. It will enhance the economy and help investors to get maximum ROI too.