Financial Conduct Authority
Major regulatorUnited Kingdom · FCA
The strongest combination available to a retail forex trader: a searchable public register, statutory compensation if the firm fails, and losses capped at account equity by rule rather than by the broker’s goodwill.
Compensation if the firm fails
Up to £85,000 per eligible person, per firm, for firms that failed on or after 1 April 2019 (FSCS).
FSCS — what we cover — read 2026-08-02
Negative balance protection
Required. Losses cannot exceed the funds in the account.
FCA Handbook -- COBS 22.5.17R — read 2026-08-06
Margin close-out
The firm must close a retail client’s open positions when the account’s net equity falls below 50% of the margin required to maintain them.
FCA PS19/18 — COBS 22.5.13R — read 2026-08-05
Maximum retail leverage
| Asset class | Maximum leverage |
|---|---|
| Major currency pairs | 30:1 |
| Minor pairs, gold, major indices | 20:1 |
| Other commodities, minor indices | 10:1 |
| Individual equities | 5:1 |
| Cryptocurrencies | 2:1 |
FCA PS19/18 — COBS 22.5.11R — read 2026-08-05
A cap is a ceiling, not a target. Leverage decides the margin you post, not what a price move costs you — use the position size calculator to size from your stop instead.
Check a licence yourself
Search the entity named in your client agreement — not the brand on the website. A group can hold this licence and still open your account on a different, offshore company.
Open the FCA registerBrokers that name FCA
Naming a regulator is not the same as your account being covered by it. Confirm the entity.
Sources
- FCA Financial Services Register — read 2026-08-02
- FCA PS19/18 — COBS 22.5.11R — read 2026-08-05
- FSCS — what we cover — read 2026-08-02
- FCA Handbook -- COBS 22.5.17R — read 2026-08-06