BGC Brokers LP at a glance
BGC Brokers LP is the institutional brokerage arm of BGC Partners, offering interdealer brokerage, electronic execution and liquidity services across FX, fixed income and other OTC markets to institutional clients globally.
BGC Brokers LP reports a founding year of 13-Jul-2006 and a head office in New York, USA. It lists 7 regulators and 4 trading platforms.
BrokerBazaar verdict
BGC Brokers L.P. has a strong regulatory and institutional profile and should be evaluated as a global inter-dealer broker rather than a conventional retail forex or CFD broker. Its principal UK entity is authorised by the FCA under reference number 454814, while its Dubai branch is directly regulated by the DFSA under reference F001356 and has held its licence since 20-Jan-2011. The group also maintains a CBB-regulated Bahrain branch and a FINMA-authorised Geneva branch. The firm's main strengths are its institutional market infrastructure, cross-asset capabilities and combination of voice and electronic brokerage services. It operates across fixed income, rates, foreign exchange, equities, commodities and derivatives. The key limitation is accessibility. BGC Brokers L.P. does not target ordinary retail traders, and standard retail account information such as minimum deposits, leverage, spreads and payment methods is not publicly available. The regulatory profile is generally strong, but due diligence should also consider the FCA's 2022 enforcement action concerning historical market abuse surveillance failures and the current NFA profile showing a pending withdrawal status. Overall, BGC Brokers L.P. is a credible and well-established option for eligible institutional and wholesale market participants, but it is not suitable for retail traders seeking conventional online brokerage services.
Legal entities, regulation and licences
BGC Brokers LP operates through 5 legal entities, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by no regulator we could map to a public register.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
BGC Brokers LP states that it accepts clients from United States, United Kingdom, Hong Kong, Singapore, Australia. Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Known restrictions flagged in our review: UK investment services are not available to Retail Clients; Standard retail commission schedule not available.
Trading products, platforms and account types
Instruments: Fixed Income, Equities, Foreign Exchange, Interest Rates, Credit, Commodities, Futures, Options, Equity Derivatives, Structured Products. Platforms: Electronic Trading, Voice Trading, BGC OTF, Institutional Trading Infrastructure. Account types: Institutional, Corporate, Professional.
Best-for tags assigned by our team: Institutional Traders, FX Liquidity, Fixed Income Traders, Broker-Dealers.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is NOT VERIFIED. Spreads start from NOT VERIFIED and commission is NOT VERIFIED. Maximum leverage is NOT VERIFIED, subject to the cap of the entity that holds your account.
Swap-free / Islamic account: not specified. Swap type: not specified. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Bank wire. Withdrawal methods: Bank wire.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Not specified. Algorithmic trading allowed: Not specified. News trading allowed: Not specified. Hedging: not specified.
Client-money rules follow the regulator of the entity that holds your account. Check that regulator's rules on its register.
Complaints and dispute process
Formal complaints: NOT VERIFIED. Phone: +44 20 7894 7000. BGC Brokers L.P. primarily serves institutional and wholesale clients. A dedicated public retail-style complaints page specifically for BGC Brokers L.P. was not independently verified. Clients should use the contact details and contractual escalation procedures applicable to their contracting BGC entity and Terms of Business.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: FCA-authorised UK investment firm
- Strength: Official FCA reference number 454814
- Strength: DFSA-authorised Dubai branch
- Strength: Official DFSA reference number F001356
- Strength: Dubai licence active since 20-Jan-2011
- Strength: CBB-regulated Bahrain branch
- Strength: FINMA-authorised Geneva branch
- Strength: International institutional market presence
- Strength: Integrated voice and electronic brokerage
- Strength: Cross-asset market access
- Strength: BGC Organised Trading Facility infrastructure
- Strength: Services across fixed income, FX, equities and commodities
- Strength: Services across futures and options
- Strength: Institutional and wholesale market focus
- Strength: Active UK legal entity registered since 2006
- Strength: Published regulatory disclosures and Terms of Business
- Strength: ADGM Remote Member recognition
- Strength: Global BGC Group infrastructure
- Limitation: Not designed for Retail Clients
- Limitation: UK investment services are not available to Retail Clients
- Limitation: Minimum deposit not publicly verified
- Limitation: Maximum leverage not publicly verified
- Limitation: Retail-style spreads not publicly available
- Limitation: Standard retail commission schedule not available
- Limitation: Deposit methods not publicly verified
- Limitation: Withdrawal methods not publicly verified
- Limitation: No public live chat verified
- Limitation: Dedicated public complaints email not verified
- Limitation: Institutional pricing may vary significantly by product and client
- Limitation: Services require professional or wholesale market relationships
- Limitation: NFA registration currently shows Pending Withdrawal status
- Limitation: ADGM recognition is Remote Member status rather than a full local financial services licence
- Limitation: Historical FCA enforcement action exists relating to market abuse surveillance controls
- Limitation: Not suitable for retail forex traders seeking standardised online accounts
Who this broker suits, and who it does not
BGC Brokers LP is most relevant to traders looking for: Institutional Traders, FX Liquidity, Fixed Income Traders, Broker-Dealers.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
BGC Brokers LP change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for BGC Brokers LP yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about BGC Brokers LP
Data sources. Broker submission, the regulator registers linked above, web-archive and domain records, and third-party traffic data. No independent licence check date is recorded yet. External ratings: Trustpilot 2.5/5; Apple App Store N/A/5; WikiFX 6.65/10; Google Play Store N/A/5.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We may receive a referral fee if you open an account with BGC Brokers LP through our links; this never affects scores or verification. How we make money. Trading leveraged products carries a high risk of loss.