He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Compare UK authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm’s ForexBrokers.com Overall ranking. Of the UK-regulated brokers we discuss, our top stockbroker is eToro.

• Straight Through Processing –STP brokers route orders directly to liquidity providers, with each quoting its own bid and ask prices.
• Many brokers such as OANDA, XTB and their platform xStation were considered in this review and may be featured on our other UK comparison page.
• You will have at least a few trading options at any time of the day, during working days.
• The forex market is accessible because of its low entry barriers and access to high leverage.
• The best forex brokers also cover any processing fees so your trading capital and profits are unaffected.
• If you wish, you can trade Forex from your home wearing pajamas or during a train ride when you have time to spare.

A forex broker offers brokerage services to retail and professional traders who want to speculate on currency pairs & other markets as CFDs, by going long or short . Through a forex broker, your profit or loss from trading CFDs is cash settled in a brokerage account you have opened with the broker. For the best trading experience, you should also look for currency exchange brokers in the UK that offer a variety of other instruments to trade in the forex market. Top brokers usually offer a mix of major, minor and exotic currency pairs on spot contracts, as well as other day trading assets such as binary options or futures. Brokers that allow you to trade cryptocurrency pairs, stock market instruments or indices, such as NASDAQ, are also popular. 80% of retail investor accounts lose money when trading CFDs with this provider.

One impressive aspect about Swissquotes is their average execution speed. With an average latency of just 9 ms, it is no surprise that 59% of trades have no slippage. More importantly, when slippage does occur, 21% of the time, price movements are favourable to traders.

When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses. Exotic pairs, on the other hand, include one major currency and one from a smaller or emerging market. EUR/CZK, GBP/MXN, and USD/PLN are common examples of exotic pairs. You probably won’t get any better rates in the FX brokerage space than XTB’s minimum 0.5 FX spreads.

Our Verdict on FXCM

Still, the fact that the there is a lot of interest, has always been a magnet for shady characters and companies who try to attract possible traders and convince them that they are legitimate. UK-based traders who are members of the eToro club can join the eToro Money program, which makes GBP deposits fee-free, and lowers the withdrawals conversion fee down to 50 pips. There is a £100 minimum deposit that UK clients need to do in order to start trading with FxPro. If you are looking for some of the best forex brokers in the UK, you are in the right place. Trading with ActivTrades is a gateway to major global indices around the world, including Nasdaq, Dow Jones, Euronext, FTSE, and many more.

Additionally, it’s also important to partner with a broker that has enough educational resources online to guide you on how to get started and make use of the available trading platform. Investing in forex means you’ll risk a chunk of your hard-earned cash with a broker. As such, you’ll need to work with a trustworthy broker who is easily accessible. We recommend working with forex traders that have phone, email, and chat availability. It’s advisable to practice a bit with a demo account to test out the platform and its features before you start trading.

CFD Trading

The forex market is accessible because of its low entry barriers and access to high leverage. However, successful forex trading requires significant time and effort, as well as a willingness to take calculated risks. When considering customer service, also keep in mind the level of support each broker offers through educational tools and resources. The best forex or CFD brokers want you to turn a good profit and will often provide video tutorials, articles and webinars, most of which are free to access for account holders. Standard STP. Perfect for novices, this is a no-commission account that works across all trading instruments, with a minimum spread of 1.4 pips.

EToro offers a selection of major, minor and exotic currency pairs. Forex trading is offered on 55 pairs, with spreads from 1 pip on standard accounts and from 0.8 pips on the classic ECN account. Avatrade offer 50+ currency pairs and their spreads are some of the best among any broker.

Additional Tools

In addition to spread, you’ll also need to consider the minimum deposit required and any other fees the broker may apply, such as rollover costs , interest rates and withdrawal charges. Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.

For those who are newbies to the forex field, HYCM has helped much by preparing lots of educational resources and comprehensive product offerings. There are some forex tutorials, trading strategies, forex ebooks, and beginners’ courses. Trading in HYCM also provides some useful tools, including calculators, economic calendar, news, and market outlook. Those overall services are a good choice for investors of all kinds, from beginners to professionals. From the review above, education and customer support are the main priorities in ActiveTrades.

VT Markets

So, if Forex is your thing, you will look for the Forex trader that employs the strategy you most closely want to emulate. If you’re an active trader, then you understand the importance of using intuitive platforms. Saxo owns two user-friendly trading platforms, SaxoTraderGO (web-based) and SaxoTraderPRO , that boast superior updates over MT4 and other industry-standard platforms.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Our guide to the Best U.K. Forex Brokers is a great starting point for finding a U.K.-based forex broker.

Plus500 Products

You can compare the Razor vs standard account to see which one best suits your trading needs. If you are after a broker with access to deep liquidity and fast execution along with an appealing range of trading platforms then Swissquotes is one broker you can trust to deliver. Depending on your trading preferences, a range of account types is available to suit different personal needs. City Index is designed for those new to currency trading with an easy-to-use forex platform, risk management tools and training.

Opening an account in FxPro grants access to more than 250 CFDs on 6 asset types, including forex, shares, spot indices, futures, spot metals, and spot energies. They want to provide their clients with https://xcritical.com/ access to top-tier liquidity and advanced trade execution with no dealing desk intervention. The average execution time is less than 11.06 millisecond with up to 7,000 orders executed per second.

They always try to provide transparent and ethical practices across the global trading industry. In 2018, 74.65% of market orders were executed at the requested price while 12.8% of the client’s orders were executed with positive slippage. Also, only 1.4% of all instant orders received a requote with 0.72% of them receiving better price when executed. However, there are no further details on the minimum amount of each process.

#3 CMC Markets- UK-Based Broker with Most Currency Pairs

This broker is established in 2006, offering forex trading along with CFDs and providing zero spread There is a useful facility for traders, including direct login MT4 integration. Last but not least, a collection of in-depth articles is provided to help traders’ knowledge and insights on turnkey broker the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM . FXCM is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market.

When choosing a broker, consider whether it is regulated, how much it charges in trading fees, which trading platforms it is compatible with and the level of customer support available. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Read more on forex trading risks.

CMC Markets

For FX traders, this broker provides Active Trader and Institutional accounts. The best forex brokers are those accepting and offering a range of deposit and withdrawal methods, including debit cards, bank wire transfers, e-wallets, PayPal, WebMoney, Sofort, plus mobile money. Making a deposit will be the first thing you do once you open an account, so it’s important that your broker facilitates prompt and hassle-free payments. The best forex brokers also cover any processing fees so your trading capital and profits are unaffected.

Overall, XM can be summarised as a trustworthy broker that provides Contracts for Difference and low spreads on 1000+ trading instruments. No, you are also able to trade a vast range of other currency pairs, even so called exotic currency pairs which don’t include any of the major or influential currencies. Forex trading in the UK is in the domain of the Financial Conduct Authority, the successor of the Financial Services Authority .