In the UK, forex brokers are overseen by a government regulator known as the Financial Conduct Authority (FCA). This financial regulator is generally seen as one of the most experienced in the world, given the City of London’s status as a top global financial center.
Although the UK is in the process of leaving the European Union, UK-regulated brokers are still under the influence of EU securities rules. This includes the new regulations from the European Securities and Markets Authority (ESMA) that came into effect in 2018. Among other things, these regulatory changes dramatically reduced the amount of leverage available to traders to a maximum of 1:30 for the major currency pairs.