10 Best FCA Forex Brokers
and Trading Platforms
The UK is one of the most reputable financial world centres and the FCA is a regulatory agency that allocates licenses and supervises UK based brokerage firms. The FCA aims to protect consumers, enhance market integrity and promote healthy competition all coupled with strict regulations. To date, the FCA has jurisdiction over 56,000 financial services firms in the country.
CMC Markets is a multi-asset class spread betting and CFD broker which is regulated by the UK’s Financial Conduct Authority (FCA). Clients have the ability to trade on more than 9,000+ trading instruments covering Indices, Forex, Cryptocurrencies, Commodities, Shares and Treasuries, all on the MetaTrader 4 platform or the broker’s own proprietary, web-based Next Generation platform.
CMC Markets offers a wide range of instruments to trade on covering all major asset classes such as 300+ Forex instruments, 60+ Indices, 15 Cryptocurrencies, 90+ Commodities, 30+ Treasuries and 9,000+ Shares and ETFs and customer support is available 24/5 via Live Chat, Telephone, and Email.
Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO. The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.
Deposits can be made via credit and debit cards, bank transfer and stock transfer. Customer support is available in nearly 30 different languages via phone, email and an FAQ section.
ActivTrades is a CFD & forex broker which is based out of the UK, with a separate branch located in the Bahamas. Both entities are regulated by their country’s relevant authorities, the UK’s Financial Conduct Authority (FCA) and by the Securities Commission of the Bahamas (SCB). ActivTrades is also overseen by the European Securities and Markets Authority (ESMA).
Instruments available for trading includes a selection of stock CFDs, with stocks from more than 3,000 American, British, and EU-based companies, more than 300 exchange traded funds (ETFs), more than 50 forex pairs, a handful of popular cryptocurrencies, several major stock indices, as well as CFDs on a range of commodities and government bonds. The ActivTrader platform on offer is a web-based trading platform available in versions for both desktop computers and Apple & Android mobile devices. In addition to ActivTrader, the broker also offers the classic trading platforms MetaTrader 4 and MetaTrader 5 (MT4/MT5).
Account types on offer are a standard Individual Account, a Professional Account, a Swap Free Account for Muslim traders, as well as a free demo account. All trading accounts can be funded with bank wire transfers, major credit & debit cards, as well as the e-wallets Skrill, Neteller, PayPal, and Sofort. For traders in the EU, all funding methods are accepted free of charge.
Customer Support is available via Live Chat, Skype or a Free Call Back request.
XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated by the UK Financial Conduct Authority (FCA) (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.
XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:
- xStation 5
Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.
Low min deposit
Guaranteed stop loss
Offers Negative Balance Protection
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.
Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.
Three main trading accounts called the Pro Account, Classic Account and VIP Account is on offer, each which offers different minimum balances, maximum leverage, spreads and commissions respectively. Demo trading and Islamic swap-free accounts are also made available.
Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.
HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS. HYCM is multi-regulated by the FCA, CySEC and the CIMA respectively.
Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.
a wide variety of instruments and currency pairs are available for trade:
- Over 100 instruments
- Over 40 currency pairs
HYCM Trading benefits:
- Allows scalping
- Allows hedging
- Low min deposit
HYCM Trading Accounts on offer include Demo, Micro, Mini, Standard and Islamic and the minimum and maximum trade requirements will vary depending on the trader and the instrument. HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.
FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading. FXPro is a global broker with a head office located in the UK. FxPro UK Limited is regulated by the Financial Conduct Authority (‘FCA’). FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas (‘SCB’).
FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.
What can be traded with FXPro?
- Over 250 instruments
- Over 70 currency pairs
FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.
FXPro Trading benefits include:
- Allows scalping
- Allows hedging
- Low min deposit
- Offers Negative Balance Protection
With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.
FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.
Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority (FCA) under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.
FXCM offers traders 4 main types of trading accounts to choose from, including Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.
Customer Support is available via Live Chat, Phone, Email and SMS.
eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK. eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.
eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert. Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.
eToro trading accounts on offer include: Demo, Micro, Mini, Standard, STP and Islamic. eToro supports a wide range of languages including English, German, Spanish, French, and Italian. 24/6 customer support is available via telephone and support ticket.
Trading 212 are an online broker which was founded in 2006 and offers Stocks trading, Forex trading, Commodities trading, and Indices trading. Trading 212 are a global broker and has a head office situated in UK.
- Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
- Used by over 14,000,000 traders.
- Trading 212 are the UK’s number one trading and investment app with over 14,000,000 downloads, thus a large userbase but is not available in the following countries: US
Trading 212 Trading benefits:
- Allows hedging
- Offers STP
- Low min deposit
- Guaranteed stop loss
- Offers Negative Balance Protection
Trading 212 Trading Accounts Offered:
- Invest account
- ISA account
- CFD account
- Demo account
Trading 212 offers an outstanding, highly responsive customer service team available 24 hours a day across a variety of platforms and in 16 different languages.
The FCA has always acted in the interest of Forex traders and it is for this reason that this regulatory agency has become one of the most preferred globally. Forex traders are assured that with the FCA, their interests are always taken into account and that their investments will be safe. FCA Forex brokers enjoy a high trust rating among forex traders and the following 8 Best FCA Regulated Forex Brokers and Trading Platforms are worth an honourable mention.
Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA). Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –
Boasts three top forex trading platforms:
- MetaTrader 4: Most Popular for Forex Trading
- MetaTrader 5: Most Popular CFDs Trading Platform
- cTrader: Best Automated Trading Platform
All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days.
Platform enhancements available for Pepperstone include:
- MetaTrader 4 smart trader tools
- cTrader Automate
- Autochartist and
- API trading
A range of options for depositing funds are available, including: Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill and QIWI.
Pepperstone offers 24/5 multiple language support via email, phone and live chat.
FXTM was established in 2011 to offer Forex and CFDs and is highly regulated by the FSC of The Republic of Mauritius, the FCA of the UK, CySEC and licensed by FSCA of South Africa.
Standard and ECN Accounts are available with several subtypes. Under the Standard account, they offer the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zero account, FXTM Pro account and the ECN account. ECN accounts can be traded on MT4 and MT5.
FXTM offers Local NGN Funding, through bank wire transfer or Neteller with a minimum deposit of $100 for a standard forex account. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.
Customer support is available in 17 Languages via Live Chat, Phone, Telegram, Facebook and Twitter.
IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.
The country of a traders residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs and options. Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.
IG offers the following education resources:
- Demo account
- Platform tutorial videos
- General educational videos
- Live sessions
Customer Service is available 24/7 via Phone, Live Chat and Email.
OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.
OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities including:
- Australia AISC (Australian Securities and Investments Commission)
- United States CFTD (Commodity Futures Trading Commission)
- Europe and UK FCA (Financial Conduct Authority)
- Japan IFFA (Institute Financial Futures Association)
- Singapore MAS (Monetary Authority Of Singapore)
- Canada IIROC (Investment Industry Regulatory Organization of Canada)
OANDA has 2 accounts on offer: a Standard Account and Premium Account. Each account comes with their own unique features and benefits. A free demo trading account is also on offer.
Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.
Swissquote Bank offers traders the ability to trade in Forex, CFDs and Options on a variety of asset classes which includes Currency pairs, FX Options, Metals, Indices, Commodities and Bonds. Traders can choose to trade on a variety of trading platforms including the bank’s own Advanced Trader platform and MetaTrader 4 and 5. Swissquote Bank Ltd holds a banking licence issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association. Swissquote Ltd on the other hand, is UK-based and is regulated by the Financial Conduct Authority (FCA), the UK’s financial authority.
Swissquote Bank offers traders four different trading accounts to choose from including Standard, Premium, Prime and Professional, as well as access to a free demo trading account. Users can deposit funds via bank wire transfer or via Visa or Mastercard. Customer support is offered in ten different languages via Live Chat, Telephone, Email and an Online Contact Form.
Interactive Brokers was founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Interactive Brokers offers many account types, which fall into two big groups:
- accounts for individual traders and investors
- accounts for institutions
Traders can choose between two different web trading platforms: The Client Portal and Webtrader and IBKR Mobile, Interactive Brokers’s mobile trading platform, is available both for iOS and Android. Users can trade on Stock, Forex, Option and Futures – to name but a few.
Customer Service is available 24/7 via Live Chat, Phone and Email.
Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Exness (UK) Ltd is an Investment Firm, authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the Financial Services Register number 730729. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.
Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-free accounts are also available. Exness offers over 105 different instruments to trade, including over 103 currency pairs.
Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.
Leverage: 1:30 to 1:888 *Depends on the entity of the group
Regulation: Australia (ASIC), Cyprus (CySEC) and the United Kingdom (FCA)
Min. Deposit: US$5
HQ: Cyprus, Australia, Belize
Platforms: MT4, MT5, XM WebTrader
Founded in: 2009
XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC. 1.5 Million Traders and investors choose XM and their wide range of XM trading products on offer. Four main account types are on offer – Micro, Standard, XM Ultra Low Account and Shares Accounts. Traders can select the base currency of their preference from a large selection on offer. This range includes South African Rand (ZAR), Singapore Dollar (SGD) and other global currencies.
Customer Support is available via live chat, email and phone.
For any market to operate efficiently, there must be fairness and honesty and the FCA takes this responsibility very seriously. FCA Regulated Forex Brokers provide the highest level of protection for both investor and trader alike.