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A Review of the Best Forex Brokers in the UK

UK residents can trade Forex like residents of many other countries. To make things a lot more interesting, many brokers accept UK traders to register and you can pick any of them to start trading Forex today. We are going to open your eyes to some of the best Forex brokers for UK traders shortly. Before you choose a broker in the UK, check if the broker can boast of the following characteristics:

  • How long had the broker been in business?
  • Is the broker regulated by the Financial Conduct Authority (FCA)
  • Check the quality of the customer service
  • How fast do the broker process deposit and withdrawal

Aside from the FCA, the following are regulators in the UK:

  • Financial Services Compensation Fund (FSCS)
  • Prudential Regulation Authority (PRA)

Best Forex Brokers UK

Forex Brokers Min. Deposit Platforms Rating Secure Link
1 easyMarkets
Risk InformationYour capital is at risk
$200
Web platform, MT4
Mobile app
5/5 Visit Site
Regulators: CySEC, ASIC, FSA-Seychelles
2 HYCM
Risk InformationYour capital is at risk
$100
MT4, MT5
Mobile Trading
4.9/5 Visit Site
Regulators: FCA, CySEC, DFSA, CIMA
3 BlackBull Markets
Risk InformationYour capital is at risk
$200
MT4, MT5
VPS, API
4.9/5 Visit Site
Regulators: FSPR, FMA, FSA

More Forex Brokers in UK

Follow us as we review the best Forex brokers UK

Pepperstone

Pepperstone

This broker is the best FCA-regulated broker in the UK. The full name of the company is Pepperstone Markets Kenya Limited. The company is a member of the Pepperstone Group of companies. It is also regulated by the CMA, FCA, and ASIC. The daily average worth of the company is US$9.2bn. The company is undoubtedly one of the largest in the world today.

The features that make this broker stand out:

  • The customer service is very strong
  • The execution speed is very fast at 30ms
  • Access to 24/5 customer service
  • Traders can choose among over 170 CFD instruments
  • The trader can access several trading platforms, including cTrader, MT5, and MT4
  • Access to a wide range of CFDs and currency pairs
  • Traders will only have to pay a commission of £2.29 per site
  • The spread average is low; that of the united states is 0.13 for EUR/USD

Why should you choose this broker?

  • There is an assurance of safety for your account. The broker is regulated by BaFin, CySec, SCB, DFSA, FCA, CMA, and ASIC
  • Funding methods are many
  • Spread is very low
  • You can also access seamless trading and the execution speed is very fast
  • There is access to premium client service, but this can only be accessed by eligible clients
  • The educational resources are outstanding and will enable you to reach your goals in Forex trading

Markets.com

Markets.com

This is the best Forex broker for those looking for the best Forex trading platforms and tools. The broker is one of the best Forex brokers UK and offers a series of services to traders. The broker is set up to enable you to meet your specific trading goals, be it long-term or short-term. Those who want to trade short-term or invest in the future can have their opportunities here. The broker equally offers world-class trading tools and helpful insights capable of giving you the edge. Margins are very low and this helps to increase the potential returns.

What are those features that make this broker outstanding?

  • Customer support is outstanding. You can connect with them via phone support and live chat.
  • The knowledge centre is equally helpful. It contains essential information and advice about investing and trading
  • The traders on this platform can equally access a series of trading tools ranging from sentiment to technical and fundamental tools. Everything you need for a smoother trade is accessible here.

The available products are:

  • CFDs
  • Share dealing
  • Real execution stats for informed decision-making
  • Investment strategy builder

The available platforms are:

  • MetaTrader 4
  • MetaTrader 5
  • Marketsi
  • MarketsX
  • Mobile

High positive slippage

Markets.com records over 86% positive or zero slippage. This indicates that up to 86% of traders are executed at a better rate or exact rate at which the trader clicked. The high positive slippage means that a high percentage of traders on Markets.com get a better spread than what is expected.

IG

IG

This broker is the most popular Forex broker in the UK. The broker started operation in 1974 and can now boast of over 239,000 clients. Its clients are all over the world and not just the UK. The trader can also have access to over 17,000 markets. So, there is adequate opportunity to make money.

The following are the features that stand the broker apart:

  • Access to award-winning web-based platform and mobile app
  • Traders can access a demo account that can be used for practicing. This will help to reduce risk and make the environment conducive to traders
  • The customer service stands out also and this makes the broker one of the best Forex brokers in UK. Customer care is accessible 24 hours of the day. They are friendly and helpful
  • The charts are fast and clear. So, traders can easily identify FX opportunities. The ProRealTime feature helps to deepen the market analysis of the trader also
  • Also, the trading platform is very easy to use
  • The account opening process is straightforward and very easy

What are the advantages of trading on IG?

  • Execution is very fast and this fast execution spread across a wide range of markets
  • The mobile app is very easy to navigate. As a result, traders can deal seamlessly on the go
  • Additionally, the broker is regulated by the FCA. As a result, it offers complete security for traders. IG also has more than 45 years of experience in the trading world

FXCM

FXCM

This broker offers the best range of CFDs and currency pairs. The broker is one of the best Forex brokers UK and has been around for over 20 years. You can also trade shares conveniently on this site. The zero commission offered here further makes the broker even more interesting. Traders can access demo accounts on the site also for easy practice before going live.

Some of the features that make this broker outstanding are:

  • Access to the trading station by all traders. It will allow the traders to learn about Forex trading via a series of platforms, like iOS. Android and Mac.
  • The broker is regulated by the FCA
  • Traders here can access free practice accounts for all markets available, including CFDs, Forex, gold, and bitcoin. The free practice account gives you 50,000 virtual money.
  • The trader can also access MetaTrader 4 across several devices. You can also use a series of tools on the MT4 trading platform.

Some of the markets supported by this broker are:

  • Shares
  • Forex
  • Indices
  • Commodities
  • Cryptocurrencies

You can also sign up for the VPS hosting service offered here to enhance your MT4 experience. Many trading tools are available to enable you to improve your trading strategy. The trading tools include the following:

  • Trader Sentiment
  • Market Depth
  • Real Volume

You can also download indicators to the trading platform from external sources.

City Index

City Index

If you are a beginner in Forex trading in the UK, this is one of the best brokers to consider. The broker is for serious Forex traders and has one of the largest combinations of tradable assets. The trader can access spread betting, Forex trading, and CFD trading on this platform. There are over 12,000 global markets here, including Forex, shares, and indices. The trader can also access the trading app for easier trading activity.

What are the features that make City Index stand out for experienced and new traders?

New traders can access the following:

  • Get trading ideas daily
  • Learn risk management
  • Access CFDs and spread betting

Experienced traders can access the following:

  • Access highly competitive spread
  • Use trading tools for building intelligent trading strategies
  • Choose among series of trading platforms

Some of the markets available are:

  • Over 25 global commodities
  • 84 Forex pairs
  • Over 4500 global shares
  • 21 global indices.

The outstanding features of the trading platforms are described below:

  • It is an award-winning platform: The trading platform is built on powerful technology and designed just to meet the individual needs of the traders. You can use it conveniently, irrespective of your trading experience
  • Great trade ideas: Traders can access a research portal that provides trading ideas so that the trader can make a better trading decision. You can access helpful information for technical and fundamental analyses here
  • You can trade anytime: Traders can download trading apps for Smartphone

Plus500

Plus500

The outstanding web and mobile platforms offered on this site make. The platform makes it easy for individual traders to access cryptocurrencies, Forex, indices, and shares via CFD trading. You can download the trading app on your device easily and each trader can access a demo account to practice Forex trading. Plus500 is one of the best Forex brokers in UK. The broker offers over 2000 instruments, some of which are:

  • Forex
  • Cryptocurrencies
  • Shares
  • Options
  • Indices
  • Commodities

What are the outstanding features of Plus500?

  • The broker offers very tight spreads so that traders can make more money per trade
  • Also, the broker is regulated by the FCA
  • You will not have to pay any commission per trade on this site
  • You can equally access leverage as high as 1:300
  • The order execution on the site is fast and reliable

The site is highly trustworthy and this makes it one of the best places to visit for Forex trading. Aside from being regulated by the FCA, the broker is also secured by SSL. The funds of the customers are kept in a different bank account from that of the broker. Furthermore, the broker is registered as Plus500 Ltd and is listed on the London Stock Exchange as a UK FTSE 250 company. The number of active traders on this platform is over 430,000. Total traded value up to date is $1,700,000. Also, up to 82 million trading positions had been opened on this platform since its inception to date.

CMC Markets

CMC Markets

The broker offers one of the best spread betting platforms around, thereby making it one of the best Forex brokers UK. The broker can give you access to a series of instruments all around the world. It is regulated in the UK by the FCA and this gives assurance of security. The platform has won a series of awards over the years. The customer service is also available 24/5. So, you can reach out to them during any trading day of the week. Additionally, the broker is listed on the London Stock Exchange and has been around for several decades; CMS Markets had been here for over 30 years.

What are the available instruments on CMC Markets?

The broker offers so many instruments and some of them are highlighted below:

  • Forex pairs
  • Indices
  • Cryptocurrencies
  • Commodities
  • Shares & ETFs
  • Treasuries

Both new and experienced traders can access this trading platform and trade conveniently.

New traders can find this trading platform welcoming because of the following features:

  • No minimum deposit
  • Spread betting is tax-free
  • Access to advanced risk management
  • Educational tools are adequate
  • Customer service is also top-botch

Experienced traders can benefit from the following:

  • Tax-free spread betting profits
  • Highly advanced trading tools
  • Experts analysis and tools
  • Automated and fast executions
  • A large number of charting tools

eToro

eToro

This platform stands out because of its copy trading feature. It is one of the best brokers for UK traders. You can access so many investment products here also. The broker is now a globally popular brand and has more than 10 million users. If you are one for copy trading, this broker is one of the best for you.

Copy-trading allows you to copy the trades and replicate the performances of profitable traders. What is more, you can access 0% commission on trades that you make on the platform. You can even buy fractional shares when you trade on the platform. eToro gives its traders opportunities to invest in ETFs and top stocks. Aside from that, you can also access some other instruments like:

  • Currency
  • Commodities
  • Indices

In conclusion, eToro makes online investing very easy for all, which makes it one of the best Forex brokers in UK.

What are the features that make eToro stand out?

  • Access to copy trading for all categories of traders
  • Over 300 million trades had been opened on this broker since inception to date
  • Traders have recorded more than 83% average yearly profit via copy trading
  • Access to cryptocurrency trading via CFD
  • The broker is regulated by the FCA and CySec
  • Your fund will also be safe and secure on the platform
  • There is an assurance of privacy for traders and investors

XTB

XTB

This broker is one of the best brokers you can ever come across as far as online trading is concerned. The broker offers a top-performing demo account and it is available to all UK Forex traders. The broker offers more than 1500 markets globally. You can access series of assets here, including:

  • Forex
  • Indices
  • Commodities
  • Stock CFDs
  • ETF CFDs
  • Cryptocurrency

The account creation process is very easy and straightforward

The broker stands out from many others and offers complete security and privacy. It is regulated by the FCA and the spread is low, especially for the EUR/USD. The trading platform is also world-class, which is one other outstanding feature of this broker.

What are those other features that stand this platform out from others?

  • The platform is very easy to use and beginners will not have a problem trading
  • The trading platform is also fully customized
  • The execution speed is superior also
  • You can access series of features like trader’s sentiment, performance statistics, and calculator

FxPro

FxPro

The broker is one of the best brokers for MetaTrader 4 in the UK. Since the trading platform is very easy to use, you can start trading like a pro in no time at all. You will also have access to a free demo account to make your trading experience a wonderful one.

What are the available instruments on FXPro?

Some of the available instruments that make this broker one of the best Forex brokers UK are:

  • Forex
  • Shares
  • Metals
  • Energies
  • Indices
  • Futures

The trading conditions on this platform are easy for all and the process is fully transparent.

Some other outstanding features of the broker are:

  • No intervention from the dealing desk
  • The trader will not have to pay any commission
  • The spread is highly competitive
  • The execution speed is 11ms, which is faster than what obtains on many other brokers

Conclusion

When looking for the best Forex brokers in UK, you can go for any of the brokers above. They have their advantages and disadvantages. So, you should take some time to compare them so that you can make the right choice among them. All the brokers above are regulated by the FCA and they also separate customer’s funds from their funds. You may want to compare the spreads offered by the brokers before making a choice. You may also want to find out about the quality of customer service when making your choice. Find out also if that broker can meet your personal preferences in a broker.

Best Forex Brokers UK FAQs

How can leverage help me in Forex trading?

Leverage gives the trader an opportunity to control a large trading position with a small amount of money in his account balance. This gives the trader the opportunity to make more profit; it can also increase the risk you will have to face as a Forex trader.  You can get very high leverage from the best Forex brokers UK.

What do I need to start trading Forex?

  • Knowledge about Forex trading
  • A good trading strategy
  • A computer connected to the internet
  • Margin, which is the money for trading

How can I test my strategy before I start using it for live trading?

The best way to test a Forex trading strategy is via demo trading. Demo trading gives you free money and also exposes you to all the conditions that prevail in live trading. All the best Forex brokers UK will give you access to free demo accounts.

Why are the trading experiences in demo and live different?

They are different because demo trading involves the use of free money and there is rarely any emotional attachment. This is rarely the case with live trading, which involves the use of real money.

How can I use lot in Forex trading?

You should use lot according to your account balance. If your margin is small, then you should start with the least possible lot size. Exposing your small account balance to a large lot can be detrimental to your trading success.

Which agency is the best for Forex brokers in the UK?

The best regulatory agencies for UK Forex brokers are:

  • Financial Services Compensation Fund (FSCS)
  • Prudential Regulation Authority (PRA)
  • Financial Conduct Authority (FCA)

Which broker is best for me in the UK?

You should go for a broker that meets your specific trading needs and requirements

How can I fund my Forex trading account?

Different brokers offer different deposit methods. You only need to look for one among them that offers a deposit method you can use.  The best Forex brokers UK will provide endless lists of deposit methods for their clients.