Global demand for elephant ivory is contributing to illegal poaching and significant decline of African elephant (Loxondonta africana) populations. To help mitigate decline, countries with legal domestic ivory markets were recommended by the Convention on International Trade in Endangered Species of Wild Fauna and Flora to close domestic markets for commercial trade. However, implementing stricter regulations on wildlife trade does not necessarily mean compliance with rules will follow. Using an online questionnaire, we examined the relationship between self‐reported compliance with ivory trade regulations among 115 ivory traders in the United Kingdom and 4 dimensions (control, deterrence, legitimacy, and social norms) hypothesized to influence compliance with conservation regulations. Although most traders supported regulations, a large number did not always check that they comply with them when trading objects containing ivory. The main factors influencing compliance with ivory trade regulations were traders’ ability to comply and their perceptions of the regulations and punishments to deter illegal trade. These findings demonstrate the utility of conservation criminology to improve wildlife trade regulations and identify opportunities to reduce illegal ivory entering the market in the United Kingdom. Compliance could be improved by clearer regulations that facilitate easier detection of illegal ivory products and stronger prosecution of violations.