FCA Blacklists Forexbit in Latest Flurry Against FX Brokers

If a broker is authorized in an EU country, he can operate in all other member states. According to the policy, brokers are required to separate and deposit traders’ funds in a separate account from the broker’s account. Moreover, it is better to look for brokers that offer free demo accounts so you can try their platforms before opening an account and financing it. The forex brokers listed have been chosen based on specific criteria to simplify your work. The following ten FCA regulated forex brokers are not listed in a particular order based on factors including financial stability, quality of execution and available trading platforms.

According to the regulator, the broker targeted people in the UK and provided financial services in the country without being duly authorized. He also seems to have social trading in mind. As a result, regulated brokers elsewhere in Europe may also provide financial services in the UK under the EEA agreement. If you are looking for a decent Forex broker in the UK, you shouldn’t worry about what you will eventually find and whether it will be a good choice.

On its website the broker provides a limited amount of information and nothing on regulation. FCA Forex brokers are required to provide periodic reports that contain certain data such as the capitalization and the value of separate client funds. Whether you are looking for an FCA Forex broker or any other type of financial service, FCA is there to supervise the functioning of the company and the way it interacts with you, the consumer. All FCA Forex brokers are required by the FCA to have a solid complaint resolution department that should review all consumer complaints. The FCA regulated Forex brokers are required to look for the best deal possible when they act as counterparty on behalf of their clients. Therefore, FCA forex brokers are considered highly reliable due to the various laws outlined in the code of conduct prescribed by the Financial Services Act of 2012. It is extremely easy to find a regulated FCA Forex broker, since it is relatively easy to establish a brokerage in the UK.

As reported by Reuters, many brokers have already committed to stop offering CFDs on a discretionary or advisory basis. So what makes Forex brokers in the UK so reliable is also the fact that they are substantially doubly protected by the official FCA in the UK and the European Union. After all, British Forex brokers really are the best in the business. The most reliable forex brokers in the United Kingdom are regulated by the Financial Conduct Authority (FCA), which is the body for the regulation of financial services industries in the United Kingdom.

FCA regulated brokers are stipulated by law to offer their clients complete protection against market eventualities and liquidation of brokers while safeguarding investments up to 50,000. Brokers not regulated by the FCA are allowed to solicit forex traders in the UK due to EU legislation known as MiFID (Markets in Financial Instruments Directive). They must undergo a rigorous regulatory procedure to obtain a valid FCA license, which not only helps companies operate in the UK, but also provides the necessary licenses to satisfy investors throughout the European Union through the EEA license. Even the FCA regulated FX brokers clearly show information on the FCA license on their website, along with all the advantages and advantages that traders receive under the FCA and FSCS regulatory framework.