Financial Ombudsman for 2021

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Financial Ombudsman Guide

Updated June 18, 2021

Financial Ombudsman: Know Your Rights

What Is The Financial Ombudsman And What Is It Meant For?

The Financial Ombudsman, otherwise referred to as FOS, takes care of complaints pertaining to mortgages, most bank accounts, investment products, pension products, insurance policies, PPI (payment protection insurance) claims, HP (hire purchase) agreements, credit cards as well as store cards, and financial advice.

The Financial Ombudsman was initially established in order to offer a quick and cost-effective way to resolve disputes taking place between financial organizations and their clients without them having to go to court.

Clients ideally have to have attained a final response in their ongoing dispute with a bank, insurance firm, or any other financial institution and still be dissatisfied with the results before they can go on to take their complaint to the financial ombudsman.

This means that clients will have to go through the internal complaints approach of the bank, insurance firm, or any other financial institution they wish to file a complaint against.

If the financial institution still has not yet resolved the client’s complaint within the established eight weeks timespan, have turned down the client’s complaint, or have not satisfied the client with their proposed solution, the client is, therefore, allowed to take their complaint to the FOS.

The Financial Ombudsman Service is always free-of-cost for customers to use, and the details regarding the ombudsman are usually listed in the financial provider’s final letter to the client.

In some instances, the client may be directed to a different type of ombudsman service, like the Pensions Ombudsman. A Pensions Ombudsman takes care of problems around the administration or complaints. However, the Financial Ombudsman will be able to guide the client in the right direction for their complaint to finally be resolved.

The Types Of Complaints The Financial Ombudsman Service Handles

To put it briefly, the usual complaints associated with the Financial Ombudsman Service include:

  1. Being rejected on unfair grounds for an insurance payment.
  2. Being endorsed and sold a financial product without the institution disclosing the risks associated with said product.
  3. Incorrect charges being levied on financial products or services.

Customers can report complaints to the Financial Ombudsman Service if they have fallen victim to credit card or debit card fraud and their personal bank resists reimbursing them the money taken from their accounts.

Effective from the 1st of April 2019, the Financial Ombudsman Service raised their compensation limit from £150K to £350K for complaints related to actions taken by financial during or after said date. This means that if a firm had done something wrong on the 1st of April 2019 or after it, the client could be bestowed compensation as much as £350K. Any complaints made and resolved before said date still had a compensation limit of £160K.

The Type Of Products Or Services Clients Can Complain About

The range of products or services that can be complained about is wide. The service does not just handle regulated financial activity, but it also regulated how companies run to ensure clients are being given fair treatment. In worst case scenarios, the ombudsman may only tell the clients it cannot adjudicate.

The typical areas the Financial Ombudsman Service deals with are:

Credit And Debit Cards

The main issue related to this is unfair deduction from credit card. The ombudsman, however, also deals with any immoral behaviour, e.g., the financial institution increasing the interest rates without informing customers, not compensating for Section 75 claims, and transactions that are disputed.

Bank Accounts

The main issue handled used to be complaints related to bank charges. That is the thing of the past since banks have ceased applying charges. The current problems, however, include ones related to packaged accounts.

Irresponsible Lending And Debt Collection

The Ombudsman Service looks at complaints related to debt collection companies and the lending policies of clients who hold consumer credit licenses, payday lenders included.

For instance, if a lender is harassing a client or not treating them the way it is written in the “FCA Consumer Credit Handbook”, consumers can feel free to complain. The ombudsman, in this case, will check if the client has attempted coming into an arrangement with their lender. It will also examine the situation if the client believes they have been treated unfairly.

Investments

The ombudsman does not handle complaints that are only on the basis of how an investment has been performed. It can, however, help in areas related to life policies, with-profits, saving endowments, stockbrokers, and more. The ombudsman also takes care of where clients are led to believe they are receiving low-risk products, when in actuality, they are risky deals.

PPI (Payment Protection Insurance) And Other Types

At one point in time, a large category of complaints used to be associated with the selling of PPI. Home, car, pet, and travel policies as well as income protection, serious illness, and medical insurance were also remitted by the ombudsman. Complaints can be related to delayed, rejected, and unpaid claims as well as nondisclosure of important information, etc.

When a financial institution sells a client an insurance product, it has been the insurer’s responsibility since April 2013 to enquire the client what they must know in order to determine if the policy is suitable for them or not. Before April 2013, clients had to volunteer that information on their own.

With that being said, if an insurance company rejects their client’s complaint without asking them important questions to determine their right to that complaint, the client can take that complaint to the ombudsman for them to handle.

Loans And Mortgages

This department is responsible for a wide range of problems. It does not just cover issues with lenders, but stockbrokers as well. This comprises the approach lenders take to take care of mortgage arrears issues. Aside from that, it is checked whether the loan or mortgage was affordable in the first place when it was taken out.

Grants And Pensions

The complaints in this department can be about the sustainability of a pension plan or otherwise, administrative issues, e.g., delays. However, if an individual faces administrative issues such as ones involving trustees or employers, they must refer to the Pensions Advisory Service instead.

Payday Related Loans

If an individual receives a payday loan they cannot afford to pay back – mostly due to the lender not checking their finances thoroughly or kept forcing the loan on them – they (the employees) might just be able to get back 100s or even 1000s with the help of the ombudsman.

Savings

The ombudsman can take a look at International Standards on Auditing, or ISA applications, ones that have not been processed the right way or in a timely fashion, whatever transpires regarding “rollover” savings when their expire, as well as other administrative issues.

How To File A Complaint To The Financial Ombudsman Service

Anyone having any unresolved disputes with financial institutions can refer to the Financial Services Ombudsman for help. Following are the steps on how it can be done:

Complain Directly To The Institution

Going directly to the ombudsman is not a viable solution because it will always need proof f whether the applicant tried to settle their dispute with the company or not.

In most cases, companies reject complaints because it is more cost-effective for them to do so. The fact that they initially reject a complaint does not mean a client is wrong. It is best for a client to attempt to resolve the dispute elaborating their problem to the company and how they prefer it to be resolved. If the firm happens to have an intermetal complaints procedure, the client should try to cooperate and follow it.

The client should then wait eight weeks for the firm to try to resolve their issue.

Receive An Ultimate Response

If the firm refuses to help with the issue, the client should request a final response as proof that they have done all they could to have their complaint resolved.

If the firm fails to respond to this letter for a long time (two weeks, for example), the client can take their problem to the Financial Ombudsman Service.

The client must redirect their complaint to the Financial Ombudsman Service within 6 months of receiving the final response letter, otherwise the ombudsman may not be able to entertain their complaint.

Contact The Financial Ombudsman Service

In order to file a complaint, the client can call 0800 023 4567, or visit the Financial Services Ombudsman site to learn more on how to register a complaint via a complaint form. If English is not the client’s first language, the Ombudsman can either guide them through the process thoroughly or find an interpreter for them.

The client can either fill out the complaint form available on the website online or get a copy printed out and send it back to elaborate on their case. They can attach evidence (if any) such as statements that include charges or their communication with the form. After that, the ombudsman handles the rest. It may contact the client for more information or if it has any plausible solutions.

The client will not be getting an instant solution from the ombudsman. Elaborate disputes can take from 3 to 9 months to be resolved and PPI complaints tend to take longer. While there is no guarantee the applicant will win the case, ten-thousands of individuals do every year. It means that the companies must take their customers seriously.

Vulnerable clients usually get prioritized in such cases. Although the ombudsman can take plenty of months to take care of some disputes, it does consider vulnerable clients a priority.

Clients that have health issues, have had unexpected life events happened to them, or have caretaking responsibilities are considered by the ombudsman to be vulnerable.

If a client believes their complaint is urgent considering they have vulnerability, they can let the ombudsman know when they escalate their complaints to it, as this may speed up the overall process.

Wait For The Financial Ombudsman Services Final Decision

The Financial Ombudsman Service will then evaluate the evidence provided via both sides. The ombudsman may get in touch with the client to get more information but there are no hearings like the ones that happen with court cases.

Once the Financial Ombudsman Service has come to a decision it will get in touch with the client as well as the firm involved in the dispute with details on the proposed conclusion.

If the client finds the conclusion suitable (they agree with the client’s complaint), the final letter will have details of what the firm involved in the dispute has to do to put things in order.

What Happens When The Client Is Not Satisfied With The Ombudsman’s Decision

The Financial Ombudsman Service’s final decision is normally suggested by an allotted case worker. If the client does not agree with the result, they can request a official decision to be made by one of the official ombudsmen available at the service. This second solution often takes numerous months as it includes a detail investigation into the client’s case.

Following that, the financial institution has to accept the ombudsman’s decision, the client can still take the firm to court.

The client must carefully consider this because while the ombudsman can reach a decision out of pure fairness, the court will reach a decision on the basis of legal wrongdoing. Clients can claim up to £10K referring to the ombudsman’s Small Claims Court guide.

If the client is of the opinion that the ombudsman has not handled their case properly (unnecessary delays and whatnot), the client can freely file a complaint about the service provided to them. If the issue is still not resolved, the client can refer to the independent evaluator. This can only be regarding the service the client was provided, not the ombudsman’s decision offered.

We've collected thousands of datapoints and written a guide to help you find the best Financial Ombudsman for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best UK Regulated Investment Platforms below.

Reputable Financial Ombudsman Checklist

There are a number of important factors to consider when picking an online UK Regulated Investment Platforms trading brokerage.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering UK Regulated Investment Platforms.

We compare these features to make it easier for you to make a more informed choice.

Top 15 UK Regulated Investment Platforms of 2021 compared

Here are the top UK Regulated Investment Platforms.

Compare UK Regulated Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are UK Regulated Investment Platforms. Learn more about what they offer below.

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Broker eToro AvaTrade IC Markets XTB Pepperstone XM FP Markets Plus500 FXPrimus EasyMarkets SpreadEx
Rating
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA)
Min Deposit 200 250 200 No minimum deposit 200 5 100 100 100 100 1
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 20,000,000+ 200,000+ 180,000+ 250,000+ 89,000+ 3,500,000+ 10,000+ 15,500+ 10,000+ 142,500+ 10,000+
Benefits
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
Accounts
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
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  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Pro account
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  • Micro account
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  • ECN account
  • Islamic account
  • Demo account
  • Micro account
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  • Zero spread account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms Web Trader, Tablet & Mobile apps Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
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  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
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  • Live chat
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  • Live chat
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  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
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  • Live chat
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  • Live chat
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  • Live chat
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Learn More Sign Up with
etoro
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avatrade
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icmarkets
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xtb
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pepperstone
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xm
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fpmarkets
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plus500
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fxprimus
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easymarkets
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spreadex
Risk Warning 67% of retail investor accounts lose money when trading CFDs with this provider. 72% of retail investor accounts lose money when trading CFDs with this provider Losses can exceed deposits 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Your capital is at risk Losses can exceed deposits 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Losses can exceed deposits Your capital is at risk Losses can exceed deposits
Demo eToro
Demo
AvaTrade
Demo
IC Markets
Demo
XTB
Demo
Pepperstone
Demo
XM
Demo
FP Markets
Demo
Plus500
Demo
FXPrimus
Demo
easyMarkets
Demo
SpreadEx
Demo
Excluded Countries IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, BE, BR, KP, NZ, TR, US, CA, SG AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA US, IN, PK, BD, NG , ID, BE, AU BR, KR, IR, IQ, SY, JP, US US, CA, IL, KR, IR, MM, CU, SD, SY US, JP, NZ MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. US US, TR

All UK Regulated Investment Platforms in more detail

You can compare UK Regulated Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top UK Regulated Investment Platforms for 2021 article further below. You can see it now by clicking here

We have listed top UK Regulated Investment Platforms below.

Financial Ombudsman List

eToro
(4/5)
Min deposit : 200
eToro was established in 2007 and is used by over 20000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
AvaTrade
(4/5)
Min deposit : 250
AvaTrade was established in 2006 and is used by over 200000+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, CFDs, Spread Betting, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)
IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 89000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 3500000+ traders. Your capital is at risk XM offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Plus500
(4/5)
Min deposit : 100
Plus500 was established in 2008 and is used by over 15500+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500 offers CFDs.


Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
SpreadEx
(4/5)
Min deposit : 1
SpreadEx was established in 1999 and is used by over 10000+ traders. Losses can exceed deposits SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)
Learn more Learn more about eToro. 67% of retail investor accounts lose money when trading CFDs with this provider.