Crypto exchanges for UK residents: who serves you, under what rules
Most "best UK exchange" lists confuse three different things: being on the FCA register, being allowed to market to British customers, and being safe. They are not the same, and the gap between them decides which venue you should open. Here is the map as it stands in October 2026, with the four exchanges that matter, their status, their fees, and what you give up on each.
Disclosure: OKX, Kraken and Bybit are our partners and the links on this page are affiliate links. They carry no bonus for UK readers: the FCA regime forbids it. Status and rules checked on the FCA register and the exchanges' own notices on 8 October 2026.
Three statuses, not one
On the FCA cryptoasset register. A firm registered under the UK money-laundering rules, allowed to run a crypto business from the UK. It is a compliance check on the company, not a guarantee on your money. Kraken (Payward Ltd), Coinbase (CB Payments Ltd) and Crypto.com (Foris DAX UK Ltd) are on it, alongside Gemini and Revolut. This register is on its way out: a full licensing regime replaces it on 25 October 2027, with applications open from 30 September 2026.
Allowed to market to UK residents. Since 8 October 2023, any exchange that promotes crypto to British customers must follow the financial promotions regime, either because it is registered or because an FCA-authorised firm approves its promotions. That is how OKX serves the UK, and how Bybit came back on 19 December 2025 through Archax. Neither is on the register; both are legal to use.
Safe. Neither status covers your coins. The FSCS never applies to crypto-assets, registered exchange or not. What protects you is the venue's own record and controls, which is where the exchanges differ most, and where we spend the rest of this page.
What the promotions regime changes for you
- A 24-hour cooling-off period between sign-up and your first deposit, on every platform.
- An appropriateness questionnaire you must pass before trading.
- Risk warnings on every screen, with the standard wording: you should be prepared to lose all the money you invest.
- No incentives. Sign-up bonuses, deposit matches and refer-a-friend rewards are banned. Any site promising one to a UK reader is either breaking the rules or not serving the UK.
- No derivatives. Crypto futures, options and leveraged tokens have been off limits to UK retail investors since January 2021. Spot only.
- A shorter menu. OKX trimmed its UK catalogue to around 40 tokens; Bybit offers about 100 spot pairs.
The four venues, side by side
| Exchange | UK status | What you can do | Spot fees (maker / taker) | What stands out |
|---|---|---|---|---|
| Kraken | On the FCA register (Payward Ltd) | Spot, staking; no retail derivatives | 0.40% / 0.80% entry, down to 0.15% / 0.30% from USD 100,000 held | Fifteen years, no intrusion on record |
| OKX | Not registered; served under the promotions regime | Spot, around 40 tokens; no retail derivatives | 0.08% / 0.10% entry | OKX Shield: up to EUR 100,000 reimbursed after an account takeover |
| Bybit | Not registered; promotions approved by Archax since 19/12/2025 | Spot on about 100 pairs, P2P; no derivatives | 0.10% / 0.10% entry | Back in the UK after a two-year pause |
| Coinbase | On the FCA register (CB Payments Ltd) | Spot, staking | Spread plus fee on the simple app, maker-taker on Advanced | Simplest onboarding, highest bill on the simple app |
Kraken: the register and the record
If being on the FCA register matters to you, Kraken is the partner we point to. Payward Ltd has carried the registration for years, the group has fifteen years without an intrusion into its systems, and its European arm holds a MiCA authorisation from the Central Bank of Ireland. The historical objection was price: the simple interface is expensive, and Kraken Pro's entry tier sits at 0.40% maker / 0.80% taker. Since July 2026 the Pro tiers also count what you hold, staking included, so a buy-and-hold investor with USD 20,000 on the platform pays 0.22% / 0.38% without trading volume. Our look at Kraken's reputation weighs the record and the 2023 SEC settlement.
OKX: not on the register, and the venue we use most
OKX is the exchange we trade on daily, and it is the one UK readers ask about most since the Manchester City sponsorship. The facts: not on the FCA register, served under the promotions regime with the questionnaire, the cooling-off period and a reduced token list. The 2023 FCA warning you may have seen concerns a clone site called The OKX Crypto Field, not the exchange. What you get in exchange for the missing registration: spot fees of 0.08% / 0.10% at the entry tier, a MiCA authorisation in Europe, and since September a programme that reimburses account takeovers up to EUR 100,000, which no registered UK exchange offers. The full test is in our OKX review.
Bybit: back since December, spot only
Bybit left the UK in October 2023 rather than meet the promotions rules, and returned on 19 December 2025 with promotions approved by Archax, an FCA-authorised firm. UK customers get spot trading on about 100 pairs and peer-to-peer; the derivatives that made Bybit's name stay closed to UK retail, as on every venue. Fees sit at 0.10% / 0.10% at the entry tier. A sound second account; not the one we would open first. Our Bybit review covers the platform itself.
Coinbase: the easiest start, the highest bill
Registered through CB Payments Ltd, with the simplest onboarding of the four. The cost is in the simple app, where spread and fee together can pass 1% per purchase; Coinbase Advanced brings it down to a maker-taker grid. A fine first purchase, a poor venue for regular buying. We explain where the money goes in our Coinbase review.
Tax, in four lines
- Gains are subject to Capital Gains Tax: 18% for basic-rate taxpayers, 24% above.
- The annual exempt amount is GBP 3,000.
- Staking, lending and airdrop rewards are taxed as income when received.
- Since 1 January 2026, UK-serving exchanges collect your transaction data under the OECD reporting framework and report to HMRC from 2027. Keep your own records; they will be compared.
Our picks for a UK reader
You want the register above all: Kraken, and switch to Kraken Pro on day one. You want the lowest fees and the widest menu among the venues that serve you: OKX, with Shield activated. You want both: an account on each, which also splits counterparty risk. Whatever you choose, keep on the exchange only what you plan to use in the coming weeks; our rule on what to keep online applies to pounds and to coins.
Open an account from the UK
OKX for fees, catalogue and account protection, served under the FCA promotions regime. Kraken for a name on the FCA register. Both apply the 24-hour cooling-off period; neither offers a bonus, as the rules require.
Affiliate links: we earn a share of trading fees, at no extra cost to you. OKX is not on the FCA cryptoasset register; UK customers are served under the financial promotions regime with a 24-hour cooling-off period and no FSCS cover. Crypto-assets are volatile and you may lose everything you commit. Reading from the UK? See which exchanges serve UK residents, and under what rules.
⚠️ Educational content, not investment advice. Crypto-assets are unregulated in the UK beyond the rules described here, are not covered by the FSCS, and you should be prepared to lose all the money you invest. Statuses and rules change: check the FCA register and the exchange's own UK notice before depositing.
FAQ
Is OKX legal in the UK?
Yes. OKX serves UK residents under the FCA financial promotions regime in force since 8 October 2023: appropriateness questionnaire, 24-hour cooling-off period before the first deposit, risk warnings, and a reduced catalogue of around 40 tokens. It is not on the FCA cryptoasset register, so there is no FCA recourse and no FSCS cover, which is also true of crypto holdings on registered exchanges. The FCA warning about The OKX Crypto Field concerns a clone site, not OKX.
Which exchanges are on the FCA cryptoasset register?
Among the venues we cover: Kraken (Payward Ltd, FRN 928768), Coinbase (CB Payments Ltd) and Crypto.com (Foris DAX UK Ltd), alongside Gemini and Revolut. The register is a money-laundering registration, not a full authorisation; a licensing regime replaces it on 25 October 2027, with applications open from 30 September 2026. Check any firm on register.fca.org.uk before depositing.
Can I use Bybit from the UK?
Since 19 December 2025, yes, for spot trading on about 100 pairs and peer-to-peer. Bybit returned after a two-year absence under promotions approved by Archax, an FCA-authorised firm. Derivatives stay off limits: the FCA has banned crypto derivatives for retail investors since January 2021. Bybit itself holds no FCA authorisation.
Why does no UK exchange offer a sign-up bonus?
Because the financial promotions regime bans incentives to invest, including refer-a-friend rewards and deposit bonuses, for every firm that markets crypto to UK residents. If a site promises you a bonus for opening an account from the UK, it is either ignoring the rules or not serving UK customers. Our partner links carry no bonus for UK readers.
How is crypto taxed in the UK?
Gains fall under Capital Gains Tax: 18% for basic-rate taxpayers and 24% above, after an annual exempt amount of GBP 3,000. Staking and lending rewards are income. Since 1 January 2026, UK-serving exchanges collect your transaction data under the OECD reporting framework and send it to HMRC from 2027, so self-assessment and the exchange records will be matched.
Is my crypto protected if the exchange fails?
No, on any exchange. The FSCS covers deposits at banks and certain investments, never crypto-assets. What protects you is the exchange's own record and controls: segregation of client assets, proof of reserves, and, in OKX's case, a reimbursement programme of up to EUR 100,000 after an account takeover. Keep on an exchange only what you need for the coming weeks.