FCA UK (former FSA UK) regulated Forex brokers
The list of FCA UK (former FSA UK) registered and regulated brokers:
Update: As of April 1, 2013 the FSA UK has become two separate regulatory authorities:
FSA UK registry contains Authorised and EEA Authorised brokers.
- is a FSA UK regulated broker. A firm that FSA UK has given permission to carry out regulated activities.
- is a broker that's been registered with FSA UK, but is regulated in its home country. The EEA Authorised status is given to firms that are authorised in another European Economic Area (EEA) state and been given a "passport" by FSA UK to provide cross border services to UK citizens according to MIFID. These firms are regulated in their home country, and not by FSA UK, although must comply with standards agreed across all EEA countries.
Note from FSA UK site, quote:
About FSA (UK)
The Financial Services Authority (FSA) is an independent body, a single regulator of all providers of financial services in the United Kingdom. The FSA regulates most financial services markets, exchanges and firms. It sets the standards that must be met and can take action against firms if they fail to meet the required standards.
Requirements for FSA regulated brokers
Forex brokers regulated by the FSA are required to meet a number of industry standards and requirements, in particular:
What does this mean for a retail Forex trader?
In plain language, this means a higher protection of investments for any individual Forex trader.
Investors protection: the Compensation Scheme
Should the company go out of business and face liquidation, its clients are covered by the Financial Services Compensation Scheme (FSCS) - the UK's statutory fund of last resort for customers of authorized financial services firms. This means that the FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it.
Concerning the Forex market, the compensation limits are set as follows:
Clients receive 100% the first £30,000 + 90% of the next £20,000, but no more than £48,000 in total.
You’ll find compensation limits on this of FSCS - Investment limits.
To check if a broker is registered with FSA UK use FSA Register.
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