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The Financial Conduct Authority (FCA) is the UK’s financial regulator and is renowned as the most stringent regulator of Forex brokers in the world. The FCA’s licencing fees and operating capital requirements are much higher than other tier one regulators and it has a long-standing reputation for guaranteeing trader security. Brokers regulated by the FCA must have segregated bank accounts for client funds, a minimum of 1 million GBP in operating capital and instantaneous withdrawal processing. The FCA also provides a compensation scheme of up to 50,000 GBP to protect traders against broker-related matters.

To test these brokers, we signed up for a live account and verified their FCA license, platform selection, trading desk type, and minimum deposit requirements. Further testing focused on the trading conditions, the total cost of trading, withdrawal fee requirements and additional fee structures so traders can keep trading costs as low as possible. These are the best FCA-regulated brokers for 2021, according to our testing and our research.

  • FXTM - Best FCA-Regulated Broker for Beginners
  • HotForex - Best Analysis App
  • Tickmill - FCA-Regulated Broker with the Lowest Trading Costs
  • IG Markets - Best Regulated Broker
  • Pepperstone - Most Assets Available
  • FxPro - Best Execution
  • markets.com - Most Instruments to Trade
  • Axi - Best MT4 Customisation
  • IronFX - ECN Broker with the Most FX Pairs
  • Admirals - Best MetaTrader Platform Support

The best FCA regulated Forex brokers for 2021

Scroll for more detailsPreviousNext
Broker
Overall Rating
Official Site
FCA (UK) Regulated
FCA License
Min. Deposit
Max. Leverage (Forex)
Beginner Friendly
EUR/USD - Standard Spread
Cost of Trading
EUR/USD - Raw Spread
Total CFDs
Currency Pairs
Platforms
Website Language: English
Support Language: English
Compare
FXTM
4.33 /5
Read Review
Create Account >
Your capital is at risk
600475
USD 10
2000:1
Excellent
1.50 pips
USD 15
0.00 pips
795
62
HotForex
4.49 /5
Read Review
Create Account >
Your capital is at risk
801701
USD 5
1000:1
Excellent
1.00 pips
USD 10
0.10 pips
1150
53
Tickmill
4.48 /5
Read Review
Create Account >
Your capital is at risk
717270
USD 100
500:1
Excellent
0.00 pips
USD 4
0.10 pips
91
62
IG Markets
4.69 /5
Read Review
Create Account >
Your capital is at risk
195355
USD 250
200:1
Excellent
0.60 pips
USD 6
0.85 pips
19295
80
L2 Dealer
ProRealTime
Pepperstone
4.61 /5
Read Review
Create Account >
Your capital is at risk
684312
USD 5
200:1
Excellent
0.69 pips
USD 6.90
0.09 pips
1019
60
FxPro
4.29 /5
Read Review
Create Account >
Your capital is at risk
509956
USD 100
200:1
Excellent
1.40 pips
USD 14
1.80 pips
255
70
FxProEdge
Markets.com
4.49 /5
Read Review
Create Account >
Your capital is at risk
607305
USD 100
300:1
Excellent
0.70 pips
USD 7
0.60 pips
2235
67
Axitrader
4.34 /5
Read Review
Create Account >
Your capital is at risk
509746
USD 5
500:1
Excellent
1.20 pips
USD 12
0.00 pips
183
70
IronFX
3.74 /5
Read Review
Create Account >
Your capital is at risk
585561
USD 50
1000:1
Standard
1.10 pips
USD 11
1.20 pips
285
83
Admirals
4.24 /5
Read Review
Create Account >
Your capital is at risk
595450
USD 25
1000:1
Excellent
0.50 pips
USD 5
0.10 pips
3818
50
MT Supreme

How to compare FCA regulated brokers

FCA is one of the most respected financial regulatory agencies in the world. They are a very traditional but well-funded organization, making regulatory changes and issuing warnings to protect would-be traders and maintain fairness in the CFD industry. All FCA-regulated brokers can be considered safe due to the strict regulatory environment in which they operate, and most of them are very strong all-round. But it is essential to look at the detail of each broker to find out what differentiates them from each other. When comparing FCA regulated brokers consider:

Regulation: While your broker is FCA regulated, your trading account may not be. It is increasingly common for FCA regulated brokers to onboard UK residents onto a different license where trading conditions, like leverage, can be increased without the FCA oversight. While this is not fundamentally bad, a trader should know their trading account is regulated and that FCA will not enforce their regulations in overseas territories. If you value the regulatory oversight of the FCA, don’t trade that for adjusted trading conditions.

Platform choice: Traders have a wide range of industry platforms to choose from, each with pros and cons. When comparing brokers, always consider the platform options, as unique features or a wide variety of platforms could change your trading experience. 

Trading costs: Every broker will charge for their services, but each will have different pricing models and costs. While ECN brokers will charge a smaller spread combined with a commission based on volume, market maker brokers will charge a wider spread. We compare brokers by looking at what 1 lot of EURUSD costs to trade and would encourage traders to do the same in comparing costs. 

MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and their proprietary platforms. ECN/STP brokers will often support cTrader as it is built specifically for market execution and only allows for minimal broker interference.

Minimum Deposit: The minimum deposit could change by account type, with higher minimum deposits often linked to better conditions. Always consider the minimum deposit specific to the account type you may open. 

Deposit and Withdrawal Methods: Most brokers accept credit cards and bank transfer payment, and many accept online payments through Skrill and Neteller, and some will also accept Bitcoin. Always check the withdrawal fees before making a deposit. 


FXTM – Best FCA-Regulated Broker for Beginners

An FCA-regulated broker, FXTM is the best broker for beginner traders.  Its world-class education section is available for free in 22 languages, and customer service is available 24/7 allowing traders to get set up on weekends or holidays.  The education section is divided into several components and is available in multiple formats including Forex Trading Guides, ebooks, educational videos, articles, Forex Trading Seminars, and Webinars.  The market analysis section is also comprehensive and is updated regularly by Forex experts. 

FXTM offers three account options that cater to both experienced and beginner traders alike.  With a low minimum deposit requirement of 50 USD, beginner traders can start trading on the Micro Account.  Leverage is up to 2000:1, but spreads are wider than the other account options, starting at 1.50 pips on the EUR/USD.  Spreads tighten significantly on its Advantage Account, at 0 pips on the EUR/USD in exchange for a commission of 4 USD per trade – though the minimum deposit is 500 USD.

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

Hotforex – Best Analysis App

Hotforex is an ECN/STP broker regulated by multiple authorities including the FCA.  It offers full support for both the MT4 and MT5 trading platforms in addition to a number of trading tools, including Autochartist, VPS Hosting Services, and its proprietary HF App.  The HF App allows traders to deposit and withdraw funds, apply technical indicators, copytrade, and create watchlists.

Additionally it features several analysis tools, including Daily Market Analysis from its expert analysts, Trading Positions, a unique market indicator providing information on how traders are reacting to currency and commodity movements, and a Traders’ Board, with information on currency movers and volumes traded.   Other useful tools include a Live Quotes feature, Trading Calculators, and an Economic Calendar. 

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

TickMill – FCA-Regulated Broker with the Lowest Trading Costs

FCA-regulated since 2014, Tickmill has a long history of being a responsible broker with a focus on both experienced traders and serious beginners. Tickmill offers support for both MT4 and MT5 and while trading costs on its commission-free Classic Account are higher than the industry average, the Pro Account features dynamic spreads down to 0 pips and a 4 USD (round turn) commission – much lower most other brokers. Beginners will be happy with the low 100 USD minimum deposit on both accounts and will also appreciate the detailed market analysis and trading education on offer.

For experienced MT4 traders looking to switch brokers, Tickmill’s VIP Account has even lower trading costs, with commission down to 2 USD round turn – though this account is only available to traders with a minimum balance of 50,000 USD. Tickmill also offers an excellent range of MT4 trading tools, such as AutoChartist, Myfxbook and a subsidised VPS service.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
  • Wide range of assets
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

IG Markets – Best Regulated Broker

IG Markets is one of the best-regulated CFD brokers in the world.  With regulation from no less than ten regulatory authorities, including the FCA, ASIC, and BaFin, it is also publically traded on the London Stock Exchange.  In line with strict regulatory requirements, IG Markets holds all client money in independent trust accounts at a range of credit-worthy high street banks such as Barclays and Lloyds. It also insures all assets with the Financial Services Compensation Scheme (FSCS), and in the unlikely event of IG Markets’ liquidation, clients would have their share of the money returned. 

IG Markets sources its raw prices from multiple execution venues with the aim of reducing its transactional charges, resulting in tighter spreads.  It also ensures that all orders are filled at the current or better price than was quoted.  As a result, spreads start at 0.6 pips for the EUR/USD on its single commission-free account, and traders have the choice between the industry-standard MT4 platform and IG Markets’ L2Dealer platform.   

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.

FXPro – Best Execution

FxPro is a respected FCA-regulated broker with no dealing desk intervention.  Most client trades are filled in under 14 milliseconds, with 80.48% of market orders executed at the requested price while 9.6% of clients receive a better price, or positive slippage.  All trades are executed at Equinix Data centres in LD4 London, and trading servers are connected with Tier 1 banks that provide liquidity via its proprietary aggregator, Quotix. 

Traders can choose between four different platforms – MT4, MT5, C-Trader, and the FxPro platform, and there is an account type associated with each platform.  The minimum deposit is 100 USD on all accounts, and traders can access leverage of up to 200:1.  While spreads are relatively wide on its MT4 and MT5 accounts compared to other brokers at 1.61 pips (EUR/USD), spreads tighten significantly on its C-Trader Account averaging at 0.31 pips in exchange for a commission of 4.5 USD per trade. 

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

Markets.com – Most Instruments to Trade

Markets.com is an FCA-regulated market maker broker, and a constituent of Playtech, a FTSE 250 listed company offering trading and investing on over 2,200 instruments on its multi-asset platform.  Instruments include over 2000 global shares, 67 currency pairs, 41 global indices, 27 commodities (including everything from gold and copper to wheat, cotton, and heating oil), 60 ETFs, 7 cryptocurrencies, and 4 government bonds.   

Trading is offered on Markets.com’s award-winning proprietary app, Marketsx.  An advanced multi-asset trading platform, Marketsx is packed full of features for both Android and iOS, providing a seamless trading experience. On the platform traders can access a range of fundamental, technical and sentiment-based trading tools and expert analysis, in addition to in-depth charting and comparison tools.  It is also optimised for lightning-fast execution. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by the FCA, CySEC, ASIC, and the BVI FSC.

Axi – Best MT4 Customisation

Axi is an Australian-based FCA-regulated ECN broker offering trading on multiple assets, including indices, commodities, gold and silver, cryptocurrencies, and 140 Forex pairs.  While platform choice is limited to MT4, Axi has received industry recognition for its MT4 set up and offers an extensive suite of MT4 trading tools and plugins, including Autochartist, a free VPS, and PsyQuation. 

Axi offers competitive trading conditions on two live accounts with no minimum deposit requirements and leverage of up to 500:1.  Spreads start at 0.4 pips (EUR/USD) in exchange for a commission of 7 USD round turn on its MT4 Pro Account, and 1 pip (EUR/USD) on its commission-free MT4 Standard Account, which is in line with other brokers. 

Pros
  • Low minimum deposit
  • Wide range of assets
  • Well regulated
  • Tight spreads
Cons
  • Poor customer service
  • Limited demo account
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA

IronFX – ECN Broker with the Most FX Pairs

IronFX is an FCA-regulated ECN broker offering trading on multiple assets, including commodities, metals, indices, futures, shares, and over 80 Forex pairs.  It also offers a variety of account and execution choices, allowing traders to decide on the spread/commission structure that best suits their strategy. 

Minimum deposits start at 50 USD on its commission-free Standard Account, but spreads are extremely wide, at 2.2 pips on the EUR/USD.  Spreads tighten significantly on the Live Zero Fixed Spread Account, down to 0 pips in exchange for a high commission of 18 USD round turn per trade.  Traders can access leverage of up to 1000:1 on the instant execution accounts, and up to 200:1 on the market execution accounts.  All accounts have access to IronFx’s wide range of currency pairs. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Spreads start at 1.10 pips on the EUR/USD on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. Only MT4 platform supported. IronFX is regulated by CySEC, FCA, ASIC, and the FSCA.

Admirals – Best MetaTrader Platform Support

An FCA-regulated STP broker, Admirals is renowned for its wide range of tradeable instruments and excellent MetaTrader platform support.  Admirals offers five live trading accounts on both the Metatrader 4 and Metatrader 5 platforms.  It also created a customised plug-in, the MetaTrader Supreme Edition, which provides insights from a third-party provider, Trading Central, including pattern recognition and technical analysis directly to the platforms.  MetaTrader Supreme also features the Global Opinion toolset, which harnesses the power of news sentiment on a global scale, by detecting subtle, but significant changes in the undercurrents of the financial markets. 

Admirals offers both MT4 and MT5 market execution accounts suitable for beginners and more experienced traders, with minimum deposit requirements of 100 USD on all accounts, tight spreads starting at 0.5 pips on the EUR/USD, and charges a low commission of 1.8 – 3 USD per lot traded. 

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by the FCA, ASIC, CySEC, and the JSC.

Why Trade with an FCA Regulated Forex Broker?

There are few genuinely strong regulators in the world; the Australian Securities and Investments Commission is one, the Cyprus Securities and Exchange Commission is another, and the UK’s Financial Conduct Authority (FCA) is probably the leading member of this group.

London, and the UK in general, is recognised globally for being a strong, reputable financial centre and so it stands to reason that the UK’s financial regulator also has a reputation for reliability and strength.

The FCA oversees all British firms and individuals offering financial services and applies one of the world’s strictest regulatory environments. This is also the case for Forex brokers operating in the country, with the FCA being very active in enforcing compliance with the rules and regulations governing CFD products and consumer protection.

The FCA has a long-standing reputation for guaranteeing trader security and dealing harshly with bad brokers. We will talk about the FCA’s broader role in ensuring a safe environment in more detail below, but first, let’s look at the current benefits of trading with an FCA regulated broker.

  • Segregated Accounts: Like most good regulators, the FCA ensures that all brokers keep client funds segregated from broker operational funds and in Tier 1 banks.
  • Operating Capital: To ensure that all Forex brokers can maintain their clients’ positions in the market, every FCA regulated broker must have at least 1 million GBP in operating capital, which increases according to the number of traders and the trading capital. This is to ensure that all brokers can meet their financial obligations without fail.
  • Instant Withdrawal Processing: Brokers must ensure that all withdrawals are processed instantaneously.
  • Financial Service Compensation Scheme (FSCS): The FSCS is one of the most generous compensation schemes in the world. It offers protection for traders against broker-related issues by providing a guarantee of up to 50,000 GBP in compensation.

The FCA’s Role In Forex Trading

FCA-regulated Forex brokers are governed by rules that enhanced trust through enforcing market discipline, and adjust provider behaviour to prevent harm from happening to customers, and assisting when things go wrong.

The FCA’s role in Forex trading is to oversee the activities of the Forex brokers, to ensure compliance with rules that are designed to protect end-users and the overall economy.

A Forex broker that is regulated by the FCA is required to consider the interest of their customers and treat them fairly. Also, the FCA requires that information is shared with customers in a way that is easy to understand, fair and not misleading.

All FCA Regulated Brokers

These are all the FCA regulated brokers we have reviewed. They are ordered by overall score, placing the best ranked broker at the top of the list.

Scroll for more detailsPreviousNext
Broker
Overall Rating
FCA License
Min. Deposit
Max. Leverage (Forex)
Regulators
Cost of Trading
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Total # CFDs
No. of FX Pairs
Trading Commission
Platforms
Compare
IG Markets
4.69 /5
Read Review
195355
USD 250
200:1
ASIC Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Dubai Financial Services Authority
Commodity Futures Trading Association
USD 6
0.85 pips
1.40 pips
0.94 pips
19295
80
Fees Included in Spread
L2 Dealer
ProRealTime
Capital.com
4.68 /5
Read Review
793714
USD 20
100:1
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
USD 6
0.60 pips
1.30 pips
0.80 pips
4027
137
Fees Included in Spread
Capital.com
Pepperstone
4.61 /5
Read Review
684312
USD 5
200:1
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
USD 6.90
0.09 pips
0.10 pips
0.25 pips
1019
60
From 7 USD / lot - Razor Account
HotForex
4.49 /5
Read Review
801701
USD 5
1000:1
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Financial Services Commission
USD 10
0.10 pips
0.50 pips
0.30 pips
1150
53
6 USD / lot - Zero Account
Markets.com
4.49 /5
Read Review
607305
USD 100
300:1
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
USD 7
0.60 pips
1.60 pips
0.90 pips
2235
67
Fees Included in Spread
Tickmill
4.48 /5
Read Review
717270
USD 100
500:1
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
USD 4
0.10 pips
0.30 pips
0.10 pips
91
62
4 USD / lot - Pro Account
Axitrader
4.34 /5
Read Review
509746
USD 5
500:1
FCA Regulated Brokers
ASIC Brokers
Dubai Financial Services Authority
USD 12
0.00 pips
0.10 pips
0.10 pips
183
70
7 USD / lot - PRO account
FXTM
4.33 /5
Read Review
600475
USD 10
2000:1
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
USD 15
0.00 pips
0.20 pips
0.00 pips
795
62
From 4 USD / ECN Accounts
FxPro
4.29 /5
Read Review
509956
USD 100
200:1
FCA Regulated Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
Dubai Financial Services Authority
USD 14
1.80 pips
2.40 pips
1.60 pips
255
70
9 USD / lot
FxProEdge
Oanda
4.25 /5
Read Review
7110087
USD 0
200:1
FCA Regulated Brokers
ASIC Brokers
Investment Industry Regulatory Organization of Canada
British Virgin Islands Financial Services Commission
USD 10
0.10 pips
0.10 pips
0.10 pips
74
45
4 USD / lot
Valutrades
4.25 /5
Read Review
586541
USD 5
500:1
FCA Regulated Brokers
The Seychelles Financial Services Authority
USD 7
0.10 pips
0.40 pips
0.10 pips
138
74
6 USD / Lot
XM
4.25 /5
Read Review
705428
USD 5
888:1
CySEC Regulated Brokers
ASIC Brokers
FCA Regulated Brokers
International Financial Services Commission
USD 16
0.80 pips
1.10 pips
0.80 pips
1477
57
7 USD / lot - XM Zero Account
Admirals
4.24 /5
Read Review
595450
USD 25
500:1
ASIC Brokers
CySEC Regulated Brokers
FCA Regulated Brokers
USD 5
0.10 pips
0.60 pips
0.30 pips
3818
50
1.8 - 3 USD per lot
MT Supreme
FXCM
4.24 /5
Read Review
217689
USD 50
400:1
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Bermuda Monetary Authority
USD 13
1.30 pips
1.80 pips
1.40 pips
306
45
None
TradeStation
Fortrade
4.18 /5
Read Review
609970
USD 100
100:1
FCA Regulated Brokers
ASIC Brokers
Investment Industry Regulatory Organization of Canada
USD 20
2.00 pips
2.00 pips
2.00 pips
402
50
Fees Included in Spread
ThinkMarkets
4.18 /5
Read Review
629628
USD 5
500:1
Financial Services Conduct Authority
FCA Regulated Brokers
ASIC Brokers
Bermuda Monetary Authority
USD 12
0.00 pips
0.00 pips
0.00 pips
1718
46
7 USD / lot - ThinkZero Account
ThinkTrader
XTB
4.14 /5
Read Review
522157
USD 5
500:1
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
International Financial Services Commission
USD 14
1.40 pips
1.80 pips
1.80 pips
2045
48
Fees Included in Spread
xStation5
Plus500
4.09 /5
Read Review
509909
USD 100
300:1
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Brokers
Financial Markets Authority of New Zealand
USD 8
0 pips
0 pips
0 pips
2638
70
Fees Included in Spread
Plus500
HYCM
4.08 /5
Read Review
186171
USD 100
200:1
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Bundesanstalt für Finanzdienstleistungsaufsicht
USD 12
0.20 pips
0.80 pips
0.60 pips
287
70
8 USD / lot - Raw Account
ETX Capital
4.07 /5
Read Review
124721
GBP 100
300:1
FCA Regulated Brokers
Financial Services Conduct Authority
CySEC Regulated Brokers
USD 6
0.81 pips
1.58 pips
1.06 pips
5135
62
Fees Included in Spread
ETX
Trade Nation
4.05 /5
Read Review
525164
USD 5
200:1
FCA Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
Securities Commission of the Bahamas
USD 6
0.60 pips
0.80 pips
0.70 pips
33
33
Fees Included in Spread
Cloud Trade
Swissquote
3.90 /5
Read Review
562170
USD 1000
100:1
FCA Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Finansinspektionen
USD 17
1.70 pips
2.00 pips
1.60 pips
244
130
Fees Included in Spread
AdvancedTrader
IronFX
3.74 /5
Read Review
585561
USD 50
1000:1
CySEC Regulated Brokers
FCA Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
USD 11
1.20 pips
1.30 pips
0.90 pips
285
83
From USD 13.5 / lot - Zero Accounts
eToro
3.69 /5
Read Review
583263
USD 200
400:1
CySEC Regulated Brokers
FCA Regulated Brokers
ASIC Brokers
USD 10
1.00 pips
2.00 pips
1.00 pips
2454
60
Fees Included in Spread
etoro
Vantage FX
3.63 /5
Read Review
590299
USD 200
500:1
FCA Regulated Brokers
ASIC Brokers
Cayman Islands Monetary Authority
Vanuatu
USD 10
0.00 pips
0.50 pips
0.40 pips
318
46
4 USD / lot - ECN Accounts
ProTrader
Trading 212
3.57 /5
Read Review
609146
USD 10
30:1
FCA Regulated Brokers
USD 100
0 pips
0 pips
0 pips
222
222
Fees Included in Spread
trading212
Darwinex
3.52 /5
Read Review
586466
USD 500
30:1
FCA Regulated Brokers
USD 7
0.20 pips
0.80 pips
0.30 pips
40
40
5 USD / lot
Price Markets
3.47 /5
Read Review
725804
USD 5000
30:1
FCA Regulated Brokers
USD 6.50
0.30 pips
1.30 pips
0.40 pips
35
35
3.5 USD / lot
Trade.com
3.42 /5
Read Review
738538
USD 100
300:1
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Conduct Authority
USD 19
3.00 pips
3.00 pips
3.00 pips
2215
55
Fees Included in Spread
Sirix

The mission of the FCA.

The Financial Conduct Authority (FCA) is the UK’s financial regulatory organisation. It replaced the Financial Services Authority in 2012, which had been compromised during the financial crash when it was revealed that flaws in the organisation had led to poor regulation. The FCA is more powerful and consumer-focused than the FSA was, which is good news for Forex traders as they are very well protected under the new regime. 

The mission of the FCA is to regulate financial services through a framework of directives, and enforcement mechanisms.  The board of the FCA reports to the Financial Services Ombudsman who can bring information to the attention of parliament, and the industry through a series of publications.

What consumers can expect from the FCA

In principle, a consumer should expect to get protection from the regulation and the enforcement of rules of the FCA. The framework is designed to help protect those who may have a lesser understanding of the financial markets, from those who have a better understanding of them.

This protection includes helping Forex brokers set up rules for how to handle complaints and correct any issues.

The FCA’s main purpose beyond the regulation of financial organisations is to provide customers with reliable information. Their website maintains a warning list, which is a list of organisations that are potentially seeking to defraud customers, as well as provide information on the regulated entities and the products they offer.

The customer centre is available weekdays from 8 am to 6 pm, and half-day Saturday from 9 am to 1 pm, which gives potential traders access to knowledgable financial specialists who can help answer questions, or take note of a complaint or report a scam.

Key achievements of the FCA

The FCA achievements taking into consideration their short history are significant. Since 2013, when the FCA started regulating the UK financial industry, London has become more acknowledged as a major global financial centre.

Before the FCA being set up, there was no mechanism in the UK to keep the retail investor safe from companies that promoted complicated financial products that have a high-risk financial impact on the consumer.

The immediate achievement of the FCA the development of the requirements for financial organisations designed to protect the consumer, and a set of policies to help those who have already been harmed get easy access to a remedy.

The FCA is also transforming attitudes of the companies and those who work in the financial sector in the UK. This change has meant for fairer products, marketing tactics, and the development of a more customer-centric approach.

In changing the way companies operate internally and how they work with clients to remedy issues they create, the FCA has accomplishment has made the financial sector in the UK and the companies that are regulated by it, much safer for the average retail Forex trader.

The history of the FCA

Commenced in December 2012 with the passing of the Financial Services Act of 2012, the FCA was founded in April 2013 to replace the Financial Services Authority (FSA) that had been in place since 2001.

The FSA acted in an arbitrator role and had a broader mandate to oversee the entire financial system. When the FCA was created, it became responsible for the policing of the UK financial activities and the banking system. At the same time that the FCA was founded, sister agencies of the Bank of England’s Financial Policy Committee and the Prudential Regulation Authority which take responsibility for other financial sectors.

The global reputation of the FCA

The FCA is internationally recognised as one of the most trusted and objective regulatory services. It is a traditional organisation, and the framework which governs was created in 2013 to manage the current-day marketplace.  This activity has indirectly impacted many millions of UK households and has set a standard for other similar organizations worldwide.

FCA Structure

The FCA board is responsible for the overall framework implementation – which includes oversight of 6 committees which report into it, and the appointment of the Chief Executive to execute on the strategy set by the board.

The committee structure gives insights into the risks the FCA sees in the market, and how they work together in a system of self-regulation and gradual adaptation to prevent against new threats.

Risk & Strategy Committee evaluates the risks that are posed by the financial organisations on the market and are tasked to find strategies to mitigate those risks from being passed on to the consumers.

The Audit Committee monitors the effectiveness of the policies and the strategies used by the FCA.

The Regulatory Decisions Committee is the committee that takes actions against organisations that violate the rules. This committee acts on tips from the public and information from the investigators on the audit committee.

The Oversight Committee then works with the board of the FCA to manage their relationship with the parliamentary appointed Financial Services Ombudsman who is the UK’s official expert in sorting out problems with financial services. This relationship is valuable as this brings information to the government so that laws can be written, and government oversight is present.

Remuneration Committee is a committee that oversees a transparent process for how executives at the FCA are paid. This process ensures fair treatment of all staff and also respects that the FCA is a publicly funded organisation.

Similar to the Remuneration Committee, the Nominations Committee, acts as an internal mechanism to ensure the integrity of skills on the board so that the mandate of the FCA continues to be acted on effectively.

These committees, working with and feeding off each other, create a robust self-regulated system of rule-setting, auditing, enforcement and accountability to the people of the UK.

Summary

The FCA is a highly-valuable protective component of the UK financial services system that has been put in place to protect consumers with little financial knowledge from organisations with more knowledge selling them complex and risky financial products.

Any organisation that is regulated by the FCA is mandated to treat the customer fairly, and in the absence of a customer directive, make the decision that best suits the interest of the customer.

An FCA-regulated organisation takes responsibility for the accuracy and transparency of the information they promote and maintain discipline in their internal processes that are designed to protect themselves and their clients.

A Forex broker that is regulated by the FCA will expect their advice and support to be available in helping set up internal processes to protect and remedy issues that should arise in their business.

Overall, an FCA-regulated broker can be trusted to protect your funds, never communicate misleadingly, and has the client’s best interest in mind when doing business selling clients financial products and services.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Malaysian Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from a Malaysian perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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