Jasmine Birtles
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5 Best FCA-Registered Crypto Exchanges in the UK
Ruby Layram
20th Jan 2025
Cryptocurrency trading has surged in popularity, and for UK investors, selecting a platform that is both reliable and compliant with the Financial Conduct Authority (or FCA) is crucial for smart investing.
In this guide, we’ll explore five top FCA-registered crypto exchanges: Kraken, CoinJar, eToro, Coinbase, and Binance.
Investing through an FCA-registered exchange provides investors with a sense of security and confidence. FCA registration ensures that the platform complies with strict UK financial regulations, including robust anti-money laundering and consumer protection measures. This means that the exchange must follow transparent processes, safeguard client funds, and operate in a trustworthy manner.
Additionally, FCA-registered exchanges often offer better dispute-resolution processes (a fancy term for settling complications) and are subject to regular audits, providing investors with a higher level of accountability.
For anyone looking to invest in cryptocurrencies, using an FCA-registered exchange helps mitigate risks and ensures a more secure and regulated environment for their investments.
1. Kraken
Kraken, launched way back in 2011, is one of the longest-standing cryptocurrency exchanges, and it’s earned its stripes in the crypto world. Known for rock-solid security and a huge lineup of cryptocurrencies, it’s got everything from Bitcoin and Ethereum to a treasure trove of over 200 altcoins.
Whether you’re just dipping your toes into trading or you’re a seasoned pro, Kraken’s got the tools to keep you covered. Plus, with flexible payment options like bank transfers and credit cards, it makes buying and selling crypto as smooth as it gets.
We also like the platform’s low fees – amongst the most competitive that we found! However, the variable fee structure may be a bit confusing to wrap your head around at first – you can find more information on the Kraken website.
Why it’s our top choice!
Kraken stands out as one of the best FCA-registered exchanges to use because it provides an excellent range of features that appeal to both beginner and experienced crypto investors.
2. CoinJar
CoinJar started in Australia and has now made its way to the UK, offering a simple, FCA-registered platform that plays by all the rules of UK financial regulations. It’s all about making crypto trading straightforward and hassle-free.
This platform is perfect for beginners with its clean and user-friendly interface. It supports a variety of cryptocurrencies and even lets you set up recurring buys to automate your investments. Plus, with a handy mobile app, you can trade anytime, anywhere.
CoinJar keeps things transparent with fees ranging from 0% to 1%, depending on how you pay and the size of your transactions. They also take security seriously, using two-factor authentication and cold storage to keep your assets safe.
It’s best for investors who want to build a long-term portfolio from the comfort of their mobile phone!
3. eToro
You might already know eToro as one of the best UK investment platforms for social trading.
As well as offering access to the traditional stock market, eToro has now it’s added cryptocurrencies to its lineup. With FCA registration, UK users can trade with confidence knowing the platform is secure and compliant.
The social trading feature is eToro’s claim to fame—it lets you follow and even copy the trades of seasoned investors, making it great for those new to the game. You can also invest in a range of ready-made smart portfolios that do the asset-picking for you, making it easy to build a diverse portfolio.
It is a brilliant option if you are interested in investing in stocks and cryptos under one roof.
4. Coinbase
Coinbase is undoubtedly one of the most well-known cryptocurrency exchanges. It has built up a good reputation thanks to its user-friendly interface, simple payment methods and wide selection of available crypto assets.
Although most people praise the exchange for its simple design, I was more impressed by the exchange’s native crypto wallet. When you sign up to the Coinbase exchange, you get access to a free crypto wallet which can be used to send your cryptos to-and-from a variety of other platforms.
Coinbase’s fees include a spread and a flat fee, which can be on the higher side. But with top-notch security features like two-factor authentication and insurance for your digital assets, you get peace of mind.
The exchange is best suited to long-term investors rather than day trading.
5. Binance
Binance is one of the biggest names in crypto and offers UK users access to a vast range of services.
With over 350 cryptocurrencies, advanced trading tools, and even options like futures and margin trading, Binance is a playground for seasoned traders.
New to crypto? Don’t worry—they’ve also got plenty of educational resources to get you started, plus a mobile app for trading on the go.
When it comes to fees, Binance is known for offering some of the lowest in the market. Trading fees start at 0.10% and other platform fees vary depending on factors such as your payment method, your location and transaction size.
One potential drawback of Binance is that the exchange has faced regulatory scrutiny in the past and is currently restricted in Canada, the Netherlands and the US.
How to Choose a UK Crypto Exchange
It’s all well and good knowing which crypto exchanges are registered with the FCA. But, how do you know which of the above exchanges it the best option for you?
Here are a few things to consider.
What is your level of experience?
It goes without saying that complete beginners should opt for a platform that is easy to navigate and provides a range of educational resources such as webinars, walk-through tutorials and FAQs.
Although it might be tempting to sign up for the exchange that offers the shiniest features, simple might be the most effective choice!
Kraken, CoinJar and Coinbase are all relatively easy to use and provide a good range of educational resources. Out of the 3, Coinbase is probably the most well-known and has an excellent customer support team who are available around the clock.
Experienced investors might prefer the advanced tools that are offered by Binance. Kraken also offers a library of advanced tools but does not provide access to as many different cryptocurrencies as Binance (which currently offers over 500!).
How much can you afford to invest?
If you are just testing the waters, it might be worth opting for a platform that offers a low minimum deposit. For example, CoinJar allows you to invest from just £1.
Furthermore, eToro provides a free demo trading account which you can use to try your hand at crypto investing without putting any of your money on the line.
Platform fees
Platform fees are the fees that are charged for making trades, depositing funds, withdrawing cash and holding open trades in your account.
Watch out for exchanges that charge steep fees! During my review, I found that Binance is one of the cheapest cryptocurrency exchanges, followed by Kraken.
Trading fees are particularly important to traders who are interested in placing regular trades or moving their crypto holdings between different platforms.
Most reputable exchanges provide an overview of the fees that are charged on their website. I recommend taking time to familiarize yourself with these before signing up!
FAQs
What is the safest crypto exchange in the UK?
While all cryptocurrency investing comes with risk, Coinbase stands out as one of the most secure cryptocurrency exchanges. The exchange offers insurance to all investors as well as robust security measures.
Are cryptocurrency exchanges regulated in the UK?
Cryptocurrency isn’t regulated in the UK. However, some exchanges are registered with the Financial Conduct Authority. Registered exchanges must comply with guidelines that are put in place to protect investors.
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Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence. When investing your capital is at risk.
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