FCA
The Financial Conduct Authority (FCA) is the financial regulatory body charged with overseeing and controlling financial services companies and preserving the integrity of the UK financial markets.
The FCA was founded in 2013 to take over the Financial Services Authority (FSA) which previously served as the UK’s financial regulator but faced restructuring at the time. FCA was founded on British law, specifically the Financial Services Act 2012, but operates independently as an industry separate from the government system.
Based on the Financial Services Act 2012, which came into effect on April 1, 2013, the FSA’s powers were divided into two bodies, namely the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Based on the division of labor, FCA has the authority to regulate actions related to financial market marketing, define minimum service standards and requirements in product marketing, and investigate, prohibit or distribute special instructions to organizations and persons providing financial products/services in the UK, listed in the forex field (in English, Spread Betting) FCA UK regulated Forex brokers need to meet many requirements, including: Guaranteeing the quality of the bank where client funds are placed, and continuously monitoring the bank’s quality compliance with regulatory requirements. Banks must also be regulated. Placing client funds in a separate account from the depository of industrial funds (Segregated Account), and client funds must be treated separately from industrial assets. Distribute periodic financial reports on a regular basis to FCA and undertake annual audits. Insuring client funds in the Financial Services Compensation Scheme (FSCS) which can distribute compensation of client funds in a certain amount if the industry faces liquidation or bankruptcy. In short, a UK FCA regulated or licensed forex broker is obligated to follow the FCA’s strict rules and requirements. For brokers, this regulation will ensure the legality of their operations in the UK and the European Union (as long as the UK is still part of the EU). On the other hand, for forex traders, a regulated broker at FCA provides additional guarantees for the existence of the industry (not a scam), security of funds, and quality standards of service.
One thing you need to pay attention to when checking the regulatory status of forex brokers in Europe, especially the UK, is that there are 2 types of regulatory status. The initial status is authorized and regulated (Authorized and Regulated), while the second is only registered (Registered). Authorized and regulated status means that the forex broker is indeed under the auspices and authority of the UK FCA. However, registered status, which is often disguised as “”regulated””, actually refers to forex brokers that are regulated under other regulatory agencies in the European Union, but are allowed to operate in the UK. In terms of this second status, the FCA does not have any authority over it, because the operational standards also follow the country of origin of the forex broker’s regulations, for example CySEC Cyprus, BaFIN Germany, and others, whose regulatory quality varies.
Zeal Capital Markets( UK) Limited is authorized and regulated by the Financial Conduct Authority, FRN: 768451. It is a registered company in England and Wales with register no: 10219924 and registered office at 4 Lombard Street, London, EC3V 9HD, United Kingdom.
ZFX is also regulated as a Securities Dealer by the Financial Services Authority of Seychelles, License No: SD027, with head office at: Suite C, Orion Mall, Palm Street, Victoria, Mahe, Seychelles wholly owned.