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2026 Annual Reviewv2026.2

2026 · Evidence audit

Barclays FX — institutional liquidity provider

Barclays FX operates as a Tier-1 liquidity provider, licensed in both the UK and US. The firm has a long history, founded in 1690, and serves a range of institutional clients. Self-measured claims regarding liquidity depth and currency offerings require independent verification.

Barclays Bank PLC · London, UK · last re-checked 2026-09 · evidence score 98/100

01

Licence, read on the register

RegulatorLicence numberJurisdictionTierSource
FCA122702UKtier-1open source ↗
SEC/FINRA (BrokerCheck, Barclays Capital Inc.)8-41342UStier-1open source ↗
PRAnot verifiedUKtier-1open source ↗

Tier classification follows the same scale as the retail register: tier-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

02

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

A

Testable claims

  • BARX FX is Barclays' electronic FX trading platform, with over 25 years of electronic FX dealing (ib.barclays markets/barx/fx page)
  • Clients can trade with BARX across equities, fixed income, futures and FX (home.barclays news, Mar 2021)
B

Claims we cannot verify from outside

  • Liquidity depth / fill-rate claims on ib.barclays marketing pages
  • 50+ currencies / 450+ currency pairs figure appears on e-forex.net vendor profile — directory source, not verified on Barclays' own pages
03

Perimeter and coverage

Asset classesVenuesConnectivityClients acceptedExplicitly refused
FX spot, FX forwards, FX swaps, NDFs, FX optionsEBS, Reuters, CME FX, Bloomberg FXGO, CLSFIX 4.2/4.4 API, BARX FX web platform, Barclays FX algo suiteBanks, Institutional investors, Asset managers, Hedge funds, CorporatesRetail clients

A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.