Gain Capital UK Limited, a StoneX subsidiary, has applied to cancel its authorisation with the UK Financial Conduct Authority, according to Finance Magnates, which reported on 24 September 2026. The FCA register dates the application to 23 September 2026.
What was announced
The company previously operated the FOREX.com and City Index brands in Britain. The report says the register shows it can no longer hold or control client money, although its permissions still list dealing as principal in CFDs, spread bets and rolling spot forex. The FCA notes on its register that a firm in this position is still expected to meet its standards in dealing with customers.
StoneX now runs its UK retail business through StoneX Financial Ltd, which retired the City Index brand on 12 September 2026. The article says StoneX had told the market in January 2026 that Gain Capital UK would surrender its licence at a later date and that the FOREX.com UK business would continue under StoneX Financial. It also reports that retail FX and CFD revenue fell 19% in the June quarter.
The report adds that Gain Capital UK obtained a UAE introducer licence in August 2025, and that on the publication date the UAE register still listed the entity as active. It said it was unclear whether a transfer was pending.
Why it matters for traders
A cancellation application of this kind is often part of a corporate reorganisation rather than a sign of trouble, and here the group had flagged it in advance. Still, it is a reminder that the legal entity holding your account can change when brands are merged or retired. The entity named in your client agreement decides which regulator supervises you and which compensation arrangements apply.
What to check
- The exact legal entity named in your account terms and on the regulator's register.
- Any notice about transferring your account to another group company, and what changes with it.
- Whether the new entity gives you the same protections for client money.
Sources
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