Summary: Leading cryptocurrency exchanges in the UK differentiate themselves by obtaining licenses and adhering to stringent regulations enforced by the Financial Conduct Authority (FCA). These top exchanges prioritise the security of UK-based crypto investors, complying with strict guidelines and subjecting themselves to extensive audits conducted by impartial financial bodies.
In this piece, we evaluate and list the top five cryptocurrency platforms in the UK, taking into consideration aspects such as ease of use, variety of cryptocurrency options, and cost-effective transaction fees:
- Financial Conduct Authority (FCA) registered broker with over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Fast and low-fee GBP deposits via Bank Transfer, Debit Card, Faster Payments and more.
Don’t invest unless you’re prepared to lose all the money you invest.
Best Cryptocurrency Exchanges in the UK
Our expert team has developed a comprehensive methodology to evaluate the best cryptocurrency exchanges in the United Kingdom. In our assessment, we consider crucial factors such as compliance with Financial Conduct Authority (FCA) regulations, proven security measures, levels of transparency including audit outcomes, fee structures, platform features, and the range of supported digital assets. Continue reading to gain insights into these top-tier British trading platforms.
eToro is the United Kingdom's leading trading platform, fully authorized and regulated by the Financial Conduct Authority (FCA), with Firm Reference Number: 583263. This credential not only underscores eToro's steadfast commitment to providing a secure trading environment but also amplifies its global standing for a wide-ranging selection of over 3,000 assets, encompassing stocks, cryptocurrencies, and ETFs, all presented on a user-friendly interface.
The platform's innovative CopyTrader™ system cultivates a dynamic community by enabling its 30 million worldwide users to interact, exchange insights, and replicate the strategies of top-performing investors. eToro's approach seamlessly blends rigorous regulatory compliance with a focus on user experience and multiple asset classes, positioning it as the ultimate choice for traders across the UK and beyond.
In the UK, Kraken distinguishes itself as a versatile and secure option for traders and investors. This platform is not only regulated by the Financial Conduct Authority (FCA) but also offers an expansive list of over 200 cryptocurrencies at reasonable fees. In addition to fast GBP deposits and multiple local payment options, Kraken provides added value through features like crypto staking and up to 5x margin trading.
Established in 2011, Kraken has built a substantial global following, boasting over 9 million users worldwide. Accessible across various platforms such as Web App, iOS, and Android, the exchange goes above and beyond with 24/7 customer support that caters to the UK market. If you're in the United Kingdom and seeking a reliable platform that not only allows crypto trading but also offers staking and leveraged trading options, Kraken comes highly recommended.
Uphold ranks as the third-best crypto exchange in the UK, boasting a robust range of over 250 cryptocurrencies for trading and staking without fees. Regulated by the Financial Conduct Authority (FCA), it provides instant GBP deposits and various payment options, including Faster Payments, Google Pay, Apple Pay and more, making transactions fast and flexible.
With a global reach of over 10 million users across 150 countries, Uphold has established itself as a reliable platform. It's accessible via Web App, iOS, and Android and offers 24/7 customer support tailored for the market. Uphold's unique features, like automated dollar cost averaging (DCA), proof-of-reserves auditing and stringent security protocols, make it a top choice for traders.
Crypto.com ranks fourth among the UK's top cryptocurrency exchanges, serving a global user base in 120 countries. Known for its low trading fees of just 0.1%, the platform offers more than 100 cryptocurrencies and ensures swift GBP transactions via bank transfers and cards. Advanced features like secure coin storage, margin trading, crypto staking and various derivatives make it a versatile choice for investors.
Regulated and committed to compliance, Crypto.com instils confidence with its comprehensive insurance and verified reserves. The platform also offers 24/7 customer support and added benefits like on-chain staking and a Visa card that rewards users with up to 5% back in CRO tokens.
While Bybit has earned its spot as the fifth-best cryptocurrency exchange, it's important to note that it is not regulated by the Financial Conduct Authority (FCA) in the UK. Originating from Singapore, Bybit has garnered a considerable following among UK crypto investors. Founded by industry veteran Ben Zhou, the platform specializes in cryptocurrency derivatives and offers high leverage options of up to 100x.
To prioritize user security, Bybit utilizes offline cold wallets for fund storage and places a strong emphasis on transparency. Customer support is available 24/7 and is tailored to meet the needs of its global user base. With a wide range of over 770 assets and diverse trading tools, Bybit appeals to traders seeking both variety and dependability. Its dedication to security measures and transparent operations make it a compelling choice for cryptocurrency trading.
Is Crypto Investing Legal in the UK?
Yes, Absolutely, investing in cryptocurrencies is legal in the United Kingdom. The Financial Conduct Authority (FCA) in the UK actively supervises the crypto market and routinely issues warnings about the inherent risks of investing in volatile assets. This regulatory body ensures that firms offering cryptocurrency services, like exchanges, adhere to the UK's stringent laws, including Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations.
These robust regulations serve a dual purpose: deterring illegal activities such as money laundering and terrorism financing, while also enhancing market security and transparency. For investors, this underscores the importance of using FCA-regulated exchanges, as they adhere to high standards that protect both individual assets and the larger financial system.
Are Crypto Exchanges Regulated in the UK?
Yes, crypto exchanges are regulated by the Financial Conduct Authority (FCA). The FCA is responsible for regulating the financial markets in the UK and ensuring that they are fair, transparent and in the interests of consumers. The regulation of crypto exchanges by the FCA helps to ensure the safety and security of investors' funds and to prevent fraudulent activity. The FCA has set out specific rules for crypto exchanges, including requirements for customer due diligence, anti-money laundering (AML) procedures, and cybersecurity measures. These regulations aim to protect consumers and promote the integrity of local financial markets.
In summary, the UK provides a robust regulatory framework for cryptocurrency investing, overseen by the Financial Conduct Authority (FCA). Our comprehensive evaluation identifies eToro, Kraken, Uphold, Crypto.com, and Bybit as the top five exchanges in the UK, based on key criteria like regulatory compliance, security measures, and user experience. Investing in cryptocurrencies is not only legal but also increasingly secure in the UK, thanks to stringent FCA regulations. This makes it crucial for investors to choose platforms that are FCA-regulated, ensuring a secure and transparent trading environment.