For crypto users in the UK, the main filter in 2026 is no longer just coin variety or headline fees. The guide says any exchange serving UK residents must meet the FCA registration requirement, while CARF reporting starts in January 2026, forcing UK-serving platforms to collect and report transaction data to HMRC. Each trade made on a registered platform leaves a record. The guide also stresses that crypto assets are not covered by the FSCS, leaving users exposed to the exchange’s own security and custody standards.
Binance remains outside the guide’s regulated shortlist
The article states that Binance is not FCA registered and does not offer regulated crypto services to UK residents. It also points to the FCA consumer warning issued against Binance Markets Limited in 2021, followed by the subsidiary’s formal cancellation of permissions in 2023. That backdrop narrows the field for UK users who want platforms operating within the local compliance framework.
Five exchanges compared on regulation, fees, payments, and coin access
The guide reviews Kraken, CEX.IO, Coinbase, Gemini, and OKX. Its comparison focuses on regulatory standing, trading fees, payment rails, and available assets. Based on the published details, Kraken offers spot trading, Kraken Pro, and OTC services, with entry fees of about 0.26% maker and 0.16% taker. It also publishes proof-of-reserves data. CEX.IO stands out for UK payment support, including Faster Payments, Online Banking, SEPA, and card deposits, while listing more than 310 cryptocurrencies and charging an entry fee of 0.25%. Coinbase is positioned as the simpler option for beginners, with GBP bank transfers, card funding, and Learn & Earn, though its entry-level fees are the highest among the platforms listed at 0.60% taker and 0.40% maker.
Product access in the UK is still shaped by local restrictions
The guide also highlights limits attached to specific services. On Kraken, margin trading is not available to standard UK retail users and is restricted to clients who qualify as high-net-worth borrowers, including those with net income above £150,000 or net assets above £500,000. CEX.IO, registered in March 2026 as CEX.IO Markets UK Ltd under the Money Laundering Regulations, is described as legally operating in the UK, but the guide notes that this is not the same as full FCA authorisation. It also says Margin Trading, Earn products, and the crypto debit card are unavailable to UK users. Gemini is presented as a compliance- and custody-focused venue with insurance-backed custody and support for about 118 cryptocurrencies, the smallest selection in the group.
The guide’s framing is clear: in the UK market, platform choice starts with regulatory eligibility, then moves to GBP funding options, fee structure, and how each exchange handles custody and operational safeguards.