Overview: Crypto Exchanges in the UK
Ready to trade cryptocurrency in the UK? While the market remains vibrant, recent regulatory shifts overseen by the Financial Conduct Authority (FCA) mean not all exchanges are created equal – or even accessible – for UK residents anymore. Finding a platform that balances user-friendliness, robust security, fair fees, and meets the latest compliance standards is key. To help you make an informed decision in this evolving environment, we’ve analysed and compared the leading popular crypto exchanges available in the UK right now.
Security: Non-negotiable. Look for exchanges with robust security measures:
- Two-Factor Authentication (2FA): Essential for account security.
- Cold Storage: Storing the majority of user funds offline, away from potential hackers.
- Insurance Funds: Some exchanges have funds (like Binance’s SAFU or Secure Asset Fund for Users) to cover potential losses from hacks.
- Regular Security Audits: Independent checks on their systems.
- Withdrawal Whitelisting: Allowing withdrawals only to pre-approved addresses.
Fees: These can eat into your profits significantly. Understand the different types:
- Trading Fees: Usually charged as a percentage of the trade value. Often tiered based on your trading volume (higher volume = lower fees). Look for the difference between ‘maker’ fees (adding liquidity) and ‘taker’ fees (removing liquidity).
- Deposit Fees: Usually free for bank transfers (like UK Faster Payments) and crypto deposits, but often apply to debit/credit card deposits.
- Withdrawal Fees: Apply to both fiat (GBP) withdrawals to your bank and crypto withdrawals to external wallets. Crypto withdrawal fees vary by coin and network congestion.
Available Cryptocurrencies: Does the exchange list the coins you’re interested in? Some focus on major coins like Bitcoin (BTC) and Ethereum (ETH), while others offer hundreds or even thousands of altcoins.
User Experience (UX/UI): Is the platform easy to navigate? This is crucial for beginners. Does it have a clean interface, a reliable mobile app, and clear instructions? More advanced traders might prioritize sophisticated charting tools and order types.
Customer Support: When things go wrong (and sometimes they do), you need responsive and helpful support. Look for multiple channels (live chat, email, tickets) and check user reviews regarding support quality.
Payment Methods: How can you get your Pounds Sterling (GBP) onto the exchange?
- UK Faster Payments: Typically, the fastest and cheapest method for GBP deposits/withdrawals. Highly desirable for UK users.
- Debit/Credit Cards: Convenient, but often come with higher fees.
- PayPal: Sometimes offered, but less common.
- Crypto Deposits: Standard across all exchanges.
Quick Comparison Table
Exchange | UK Availability | FCA Regulated | Supported Coins | Spot Fees (Maker/Taker) | Notable Features |
OKX | Yes | No | 1000+ | 0.08%/0.10% | Advanced trading, staking, DeFi |
Binance | No (new users) | No | 1200+ | 0.10%/0.10% | High liquidity, wide asset selection |
Bybit | No (since 2023) | No | 1000+ | 0.10%/0.10% | Derivatives, copy trading |
MEXC | Yes | No | 2,800+ | 0.05%/0.05% | No KYC, zero-fee promos, airdrops |
Bitget | Yes | No | 1000+ | 0.10%/0.10% | Copy trading, futures |
WhiteBit | Yes | No | 1000+ | 0.10%/0.10% | High security, fiat support |
In-Depth Review of Popular Crypto Exchange in UK
OKX
Availability: Fully available in the UK, though not FCA regulated.
Features:
- 1000+ cryptocurrencies and 500+ trading pairs
- Spot, margin, and futures trading
- Advanced trading tools (bots, API, analytics)
- Staking, lending, and a Web3 marketplace (NFTs, DeFi)
- Mobile and desktop apps
- Minimum Deposit: £13
Fees:
- Spot: 0.08% maker / 0.10% taker
- Low withdrawal and deposit fees (varies by method)
- Wide coin selection and high liquidity
- Competitive fees
- Advanced trading features
- Staking yields up to 20% on select tokens
- Not FCA regulated
- Requires a 24-hour “cooling-off” period for new users (FCA rule)
- No GBP fiat pairs; deposits/withdrawals via third-party or crypto
Sign-Up Bonus: OKX frequently offers sign-up bonuses and referral rewards; check the latest promotions after registration.
Step-by-Step: How to Sign Up (Example: OKX)
- Register: Visit the OKX website or app, click “Sign Up,” and enter your email and password.
- Verify Email: Check your inbox for a verification code.
- Complete KYC: Upload ID and proof of address if prompted.
- Deposit Funds: Choose GBP or crypto deposit. For GBP, use a supported payment method.
- Start Trading: Browse markets, place trades, and explore staking or DeFi features.
- Claim Bonuses: Check the promotions page for any available sign-up bonuses or referral rewards.
Binance
Availability: Not available for new UK users since October 2023 due to FCA compliance issues. Existing users can still access their accounts, but new registrations are blocked until further notice.
Features:
- 1000+ coins, spot, and derivatives trading
- High liquidity, advanced order types
- Earn, staking, and launchpad features
- Minimum Deposit: £15
Fees:
- Spot: 0.10% maker/taker
- Low withdrawal fees
- Largest global exchange by volume
- Extensive product suite
- Not accessible to new UK users
- Not FCA regulated
- Ongoing regulatory scrutiny
Sign-Up Bonus: Currently not applicable for new UK users due to registration suspension.
Bybit
Availability: Not available for UK residents since October 8, 2023. Bybit ceased all trading for UK customers to comply with FCA’s marketing and communication rules.
Features:
- Derivatives, spot, and copy trading
- 1000+ coins
- Supports GBP for conversions
- Minimum Deposit: £10
Fees:
- Spot: 0.10% maker/taker
- Competitive derivatives fees
- Advanced trading tools
- High leverage for derivatives
- Not available for UK users (trading disabled)
- Not FCA regulated
MEXC
Availability: Available in the UK, but not FCA regulated.
Features:
- 2,800+ coins, 3,000+ spot pairs
- Spot, futures, leveraged ETFs, NFT index, crypto loans
- No mandatory KYC for spot trading
- Frequent airdrops and promotions
- Minimum Deposit: £30
- Leverage: Upto 500x Leverage
Fees:
- Spot: 0.05% maker/taker
- Futures: as low as 0.02% taker
- Additional discounts for MX token holders
- Huge selection of coins
- Very low trading fees
- No mandatory KYC (privacy-friendly)
- Regular airdrops and sign-up rewards
- Not FCA regulated
- Fiat onramps via third-party providers only
- It may be less intuitive for beginners
Sign-Up Bonus: MEXC regularly runs airdrops, referral, and welcome bonus campaigns—check the promotions page after signing up.
Bitget
Availability: Bitget is accessible to UK users, though it is not FCA-regulated.
Features:
- 1000+ coins, spot, and derivatives trading
- Copy trading platform
- Advanced charting and risk controls
- Minimum Deposit: £10
Fees:
- Spot: 0.10% maker/taker
- Futures: competitive, with additional discounts for BGB token holders
- User-friendly copy trading
- Good range of assets
- Strong security track record
- Not FCA regulated
- Limited GBP fiat support
Sign-Up Bonus: Bitget often offers welcome bonuses and referral rewards – visit the promotions section after registration.
WhiteBit
Availability: WhiteBit is available to UK residents, though it is not FCA-regulated.
Features:
- 1000+ coins
- Spot, margin, and futures trading
- High security standards (cold storage, 2FA)
- Supports GBP and EUR deposits via SEPA, SWIFT, and cards
- Minimum Deposit: 10 GBP
Fees:
- Spot: 0.10% maker/taker
- Competitive withdrawal fees
- Strong security and compliance focus
- User-friendly for beginners
- Supports fiat deposits/withdrawals
- Not FCA regulated
- Smaller selection of coins compared to MEXC or OKX
Sign-Up Bonus: WhiteBit frequently runs welcome and referral campaigns; check the latest offers on the site.
PrimeXBT – Review for UK Crypto Traders
Is PrimeXBT Available in the UK?
Yes, PrimeXBT is fully available to UK residents. The platform is accessible without the need for a VPN, and British users can register, deposit, trade, and withdraw funds seamlessly. PrimeXBT is not FCA-regulated and operates outside the UK’s regulatory framework, so there is no investor compensation scheme. However, the platform is legal and widely used by UK traders.
Key Features of PrimeXBT
- Multi-Asset Trading: Trade cryptocurrencies, forex, commodities, and indices from a single account.
- Advanced Derivatives: Access to perpetual contracts and margin trading with up to 200x leverage on crypto and up to 1000x on forex.
- Copy Trading (Covesting): Follow and automatically replicate the trades of experienced professionals.
- No Mandatory KYC: Users can trade and withdraw up to certain limits without completing KYC, providing enhanced privacy.
- TradingView & MetaTrader 5 Integration: Advanced charting and analytics tools for technical traders.
- Educational Resources: PrimeXBT Academy offers tutorials, webinars, and market analysis.
- Demo Account: Practice strategies risk-free before trading live.
- Mobile & Web Platforms: Trade anywhere with robust mobile and desktop applications.
Fees and Costs
Trading Fees:
- Crypto: 0.05% commission per trade (plus variable spreads).
- Forex/Indices/Commodities: Spreads from 0.1% (forex as low as 0.1 pips).
- Overnight (Swap) Fees: Apply to positions held overnight; rates vary by asset class.
Funding Fees:
Charged every 8 hours for crypto futures, based on contract and position size.
Deposit Fees:
- Crypto: Free.
- Credit/Debit Card: Free.
- Volet: Free.
- Perfect Money: 1.99% (charged by the provider, not PrimeXBT).
Withdrawal Fees:
- Crypto: Varies by network.
- Credit/Debit Card: 5% of the withdrawal amount (e.g., $500 on $10,000).
- Volet/Perfect Money: $5 per withdrawal.
- Bank Transfer: Supported for UK users; fees depend on the method.
Minimum Deposit:
- No minimum deposit required.
PrimeXBT – Pros And Cons
Pros | Cons |
Available and legal in the UK | Not FCA regulated; no investor compensation scheme |
High leverage (up to 200x on crypto, 1000x on forex) | No spot or margin trading for crypto |
Advanced copy trading (Covesting) | No staking, lending, or NFT marketplace |
No mandatory KYC for basic use | Only USD as fiat base currency |
Fast execution and deep liquidity | Higher withdrawal fees on cards vs. competitors |
Free crypto and card deposits | Platform can be complex for beginners |
Demo account and educational resources | Limited fiat support for GBP (USD only) |
How to Get Started on PrimeXBT (UK)
- Register: Visit PrimeXBT, click “Sign Up,” and provide your email and password.
- Verify Email: Click the verification link sent to your email.
- Secure Account: Set up two-factor authentication for enhanced security.
- Deposit Funds: Choose crypto, credit/debit card, or a supported e-wallet.
- Claim Bonus: Make your first deposit (e.g., $500+), transfer to your trading account, and your welcome bonus will be credited automatically.
- Start Trading: Access crypto, forex, commodities, and indices with leverage, or explore copy trading.
Final Thoughts
The UK crypto landscape is dynamic, with regulatory changes shaping which exchanges are accessible. As of April 2025:
- PrimeXBT, OKX, MEXC, Bitget, and WhiteBit are all available to UK users and offer robust features, low fees, and sign-up bonuses.
- Binance and Bybit are not accessible to new UK users due to regulatory restrictions.
- Always check for the latest regulatory updates before signing up, and use referral links to maximize your bonuses.
Frequently Asked Questions (FAQs) for UK Crypto Users
Is buying cryptocurrency legal in the UK?
Yes, buying, selling, and holding cryptocurrencies like Bitcoin is legal in the UK. However, the regulatory landscape for providers (exchanges, wallet services) is evolving, and certain activities like crypto derivatives trading for retail clients are restricted.
Do I need to provide ID to use these exchanges (KYC)?
Yes, virtually all reputable exchanges operating in or accessible from the UK require Know Your Customer (KYC) verification. This typically involves submitting proof of identity (like a passport or driving licence) and proof of address (like a utility bill or bank statement). This is a regulatory requirement to prevent money laundering.
Which exchange is best for trading lots of different altcoins in the UK?
Binance historically offered the widest selection, but consider its regulatory issues. OKX and MEXC also provide access to a vast range of altcoins. Always research any altcoin thoroughly before investing – many are highly speculative.
Can I use multiple exchanges?
Absolutely! Many experienced crypto users have accounts on multiple exchanges. This can provide access to different coins, features, fee structures, or act as a backup if one platform has issues.
How do I ensure my crypto account is secure?
Use a strong, unique password. Enable Two-Factor Authentication (2FA) using an app like Google Authenticator or Authy (SMS 2FA is less secure). Be wary of phishing scams (fake emails or websites). Consider using withdrawal address whitelisting. For significant amounts, research self-custody wallets.
Are these exchanges legal in the UK?
All the exchanges listed (except Binance and Bybit for new users) are accessible to UK residents. However, none are currently FCA regulated, which means they operate in a legal grey area. UK users can sign up and trade, but should be aware of the risks and regulatory changes that may affect access in the future.
Can I deposit GBP directly?
PrimeXBT, OKX, MEXC, Bitget, WhiteBit: GBP deposits are possible, usually via third-party payment providers, bank transfers, or cards. However, direct GBP trading pairs may be limited.
Is KYC required?
- OKX, Bitget, WhiteBit: KYC required for full access and withdrawals.
- MEXC: No mandatory KYC for spot trading, but required for higher limits and fiat transactions.
Are there tax implications?
Yes. Crypto gains above £3,000 are subject to UK Capital Gains Tax (CGT)—10% for basic taxpayers, 20% for higher earners. Keep detailed records for HMRC.
Can I use PrimeXBT without KYC?
Yes, you can trade and withdraw up to certain limits without KYC. For higher limits or fiat withdrawals, KYC is required.
What assets can I trade on PrimeXBT?
Trade Bitcoin, Ethereum, USDT, USDC, forex pairs, commodities (gold, oil), and global indices from one account.
Does PrimeXBT offer spot trading?
No, PrimeXBT focuses on derivatives and does not offer traditional spot or margin trading for crypto.
Pros and Cons Summary
Exchange | Pros | Cons |
OKX | Low fees, advanced tools, staking, high liquidity | Not FCA regulated, no direct GBP pairs |
Binance | Largest selection, high liquidity | Not available for new UK users |
Bybit | Advanced derivatives, copy trading | Not available for UK users |
MEXC | Huge coin variety, low fees, no KYC, airdrops | Not FCA regulated, fiat via third-party |
Bitget | Copy trading, security, user-friendly | Not FCA regulated, limited GBP support |
WhiteBit | Fiat support, strong security, easy for beginners | Not FCA regulated, fewer coins |
