Together with the Bank of England, the financial sector was supervised by the FSA until 2013. In 2013, it was decided to split this regulator into two organizations: PRA (regulation of large companies) and FCA (regulation of forex brokers and other smaller financial institutions).
To obtain an FCA license, a company must undergo a complex audit. Therefore, the companies that ultimately received the FCA license can be classified as reliable. As a rule, such companies enjoy a high level of trust from investors and traders.
The regulator can revoke the license of the company for violation of the rules and requirements of work in the market. In this case, the company’s clients can receive compensation payments in the amount of up to £ 25 thousand.
Conclusions: Confidence in the FСA as a regulatory body is high enough. Choosing a broker regulated by the FCA, a trader can be sure of the safety of his funds and the absence of manipulation by the broker.
Forex brokers with FCA license