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Best Forex Brokers UK 2022

Over the years, the United Kingdom has evolved as a global financial hub and is currently the fifth-largest economy. Suppose a forex broker accepts the UK Forex and CFDs (Contract for Differences) clients and traders; in that case, they should be authorized and regulated by the Financial Conduct Authority (FCA), which is considered the financial regulatory body in the UK. Forex trading in the UK has several outstanding brokers known for transparency, reliability, and quality.

Best Forex Brokers UK

Several heavily regulated forex brokers are available in the United Kingdom to help the forex traders in the UK. Trading forex in the UK is always coming up with florida sports betting forex brokers UK every time, making it difficult for active severe traders to choose among the available brokers.

A trusted forex broker offers several features, and a premium trader should be up to date about the latest events in forex trading markets. We came up with the best broker for the UK list for you after many hours year testing and researching online brokers UK as part of our annual review process.

Best UK Forex Brokers for 2022

Forex Brokers in UK Best for
IG Best overall Broker for 2022
Saxo Bank Best VIP Client Experience
CMC Markets Best for Huge Range of Offerings
Dukascopy Bank Best Forex Trading Apps
Plus500 Easy-to-use & Best Forex Trading Platform
City Index Best fx broker UK for beginners
FOREX.com Active forex traders & MetaTrader training
XTB Top Demo Account for UK forex Traders
FXCM Best Huge Range of Currency Pairs, Forex Pair, and Share CFDs
XM.com Best MetaTrader Broker
IC Markets Best for low trading Fees
AxiTrader Best MT4 Provider
Oanda Best for Seasoned forex traders
Markets.com Best trading conditions and VIP service
eToro Best Forex Trading Platform for Copy Trading conditions & Best Mobile App
Interactive Brokers Casual and Advanced Traders
London Capital Group Best for Beginners
Pepperstone Best Trading Experience
FxPro Forex and CFD Traders
ThinkMarkets Best for Customer Service

How Do I Trade Forex in the UK?

Trading Forex pairs is one of the most profitable financial segments in the UK market.

Forex TraderForex Trader

The following are the necessary steps you must follow to start Forex trading in the UK:-

1. Starting with In-Depth Research on UK Forex Trading

Active traders need to understand the landscape of the UK Forex market fully. It is important to explore different trading techniques such as scalping, swing trading conditions, and trading position while researching online brokers.

2. Learning How the Forex Market in the UK Works

The currency market in the UK is closely influenced by the global foreign exchange market, which is one of the world’s largest financial markets where you can exchange one currency for another. It is essential to learn how the market allows you to trade and the buy or sell order with a currency. Generally, there is no fixed exchange rate in the market, which is the case in most advanced economies like the UK pound sterling, unlike the Chinese renminbi currency, which has a fixed exchange rate and no leverage restrictions.

These trading forex platforms follow the highest ethical standards, provide reviews, and provide updates and services independently; large financial institutions around the world, mostly MNC and hedge funds, dominate this FX market. And despite all that, if you have a question like Is forex legal in the UK, the answer would be Yes. So you can quickly go ahead and start the trade.

3. Opening a Forex Trading Account

During the research, assist traders will come across several Fx trading websites and Forex brokers. They need to set up a trading account on the best platform and fill up essential details like name, address, date of birth national insurance number. Next, they must understand how the Fx trading dashboard works before risking their own capital (like, spread bets, hidden fees, and most CFDs), check up on their financial situation, and try not to start losing money quickly; the best way is to consider whether you understand how spread bets and CFDs work.

Traders also need to explore the minimum deposit and withdrawal process of the UK Forex trading account. This trading forex account offers many other features with a rigorous data validation process with less error and our annual review process provides you with top results.

4. Creating a Forex Trading Strategy

Traders can take the help of professionals and Forex industry experts. They must go through tested and effective Fx trading strategies and evaluate the risk-reward ratio. It is also essential to strategize how to trade forex capital in the long run with no dealing desk intervention. As the economy is growing faster, it can affect interest rates. Consider those UK fx brokers platforms with various types of account support and its offers, well-researched data, & the latest updates to avoid taking the high risk of losing and providing the best trading conditions.

5. Using a Forex trading Platform

Traders can start by exploring the trading tools like the economic calendar, minimum deposit requirement & various trading instruments of popular trading platforms such as MetaTrader 4 MT4 and MetaTrader 5.

6. Making the first Forex trade

Traders should use action analysis tools and open their trade position. The trading forex platform also needs to monitor the Forex trade based on market price movements of hot and cold currencies and provide you with the best trading conditions for the best overall broker in the UK.

Financial Conduct Authority (FCA) and its UK Regulations for Forex Brokers

Regulatory bodies play a pivotal role in protecting the wealth of customers in financial markets. The FCA is the primary regulator of financial services in the United Kingdom. Traders and individual investors in the UK adhere to the FCA regulations before buying and selling currencies or any tradable assets. FCA helps protect traders and keep the online finance industry stable in Forex markets. The FCA also promotes a competitive advantage among financial service providers such as Forex brokers in the UK.

They also need to keep their operating capital separate from that of traders. As the UK leaves the European Union, if you are outside, your broker must be regulated. The FCA register for the best broker, and its presence acts in the traders’ best interests and reduces the error rate as these follow the highest ethical standards, thus confirming that trading is legal in the UK. Get more details on the FCA website that covers all details of the trading platforms.

Why FCA UK Regulation(FCA Registration Number) Is Necessary for the UK Forex Brokers

The organization’s primary mission/responsibility of the FCA is to ensure financial services under its regulatory status jurisdiction follow the necessary regulations. UK’s Financial Conduct Authority makes sure that UK brokers legitimately conduct their financial services. Red flags observed by the FCA can jeopardize the image of even the most successful UK Forex broker service.

Financial Conduct Authority (FCA)Financial Conduct Authority (FCA)

In addition to that, the FCA serves the common objective of ensuring safe and effective competition in the International Forex markets. When these financial markets function well, it means that the UK-based Forex brokers follow the conduct regulations set by the FCA to provide customers with trustworthy florida sports bettings, provide updates, online finance industry participants, and reliable service. The FCA also ensures in the event of fraud or loss, the FCA could compensate you up to £85,000 through the Financial Services Compensation Scheme (FSCS support broker who came into insolvency issues).

Best overall broker, which compliance with FCA regulations also saves many other forex brokers from exploiting the financial markets. As a result, consumer protection in the UK can get fair Forex transaction fees from these brokerage firms. They are even complying with the laws implemented by the European Securities and Markets Authority (ESMA). FCA is the same as the national futures association (NFA) for the USA Securities and Futures Commission ( SFC ) in Hong Kong as the already known financial services authority (FSA) was renamed FCA.

All these regulation is required as we know forex is the largest financial market in the world and needs regulation to get optimum results for any best forex trading platform as many also provide no dealing desk intervention. These heavily regulated brokers with in depth data profile, data verified by industry participants for the best trading platforms experience.

Note: To avoid a scam broker, UK residents strongly recommend choosing an FCA UK regulated broker, as trading is legal in the UK and safe.

New FCA Regulation Updates In 2022

In recent years, UK regulations set by the authority have been upgraded multiple times. In 2021, the undercurrents of rapidly-changing foreign currencies had influenced the business of Fx traders significantly. Recently, the FCA announced the transition of the legacy data collection platform by replacing Gabriel with RegData (in depth data profile and data verification is done). The FCA also revealed that UK fx brokers need to follow the SCA rules on financial services such as e-commerce transactions to ensure financial markets work properly. Many florida sports betting brokers may apply for regulations in the coming years.

Best UK Fx Brokers Are Required to Follow Strict Regulatory Guidelines

The Best overall UK forex brokers can register with the FCA through the Financial Services Register. It helps brokers gain access & legit permissions for dealing with Forex customers. Most Brokers UK under the FCA’s jurisdiction must show a minimum of 1 million in operating capital. This number increases as the number of traders increase; this not be the case in other markets of any country.

The process of getting verified by the FCA involves the following steps for the best forex trading platforms:-

  1. Establishing permission by performing regulated brokerage activities.
  2. Building a business strategy and auditing the broker services.
  3. Collecting and organizing documentation of business trading account activities.
  4. Creating a well-thought-out application to put forth to the FCA regulators.
  5. Declaring the application and submitting it.

How to Verify UK Forex Brokers Authorized and Regulated

Here, we explain in-detailed with an example to quickly check if the broker is licensed to operate in the United Kingdom (UK). Before you start trading forex in the online brokers in the UK, you must check whether the provider that’s authorized and regulated by the FCA. Here we explain an example of one of the top UK fx brokers, i.e., CMC Markets.

CMC Market FCA registration numbers discloser textCMC Market FCA registration numbers discloser text

In the first step, you have to visit the official broker website’s florida sports betting page bottom-text section and find FCA Registration Number.

FCA best forex brokers UK - Firm regulation checkFCA best forex brokers UK – Firm regulation check

In the second step, you must enter the Broker firm name or reference number on the official FCA website page. In the last step, compare the reference number mentioned in the official brokers’ website discloser text with the official FCA website page. If it’s a match and valid, then that broker is legitimate for the UK.

Check out the following list of the best Forex Brokers in UK with details, which are fully regulated by FCA in the UK.

IG

IG - Best forex brokers in UKIG – Leading Forex Trading Platform

In 1974, IG was established as one of the leading CFD and the best forex brokers in the UK and well known in global markets as one of the largest liquid financial market in the world, thus having a global scale impact and having more than 40 years of experience. Both IG Markets Ltd and IG Index Ltd are highly regulated broker by high level regulators such as the Financial Conduct Authority (regulated by the FCA license) and the Federal Financial Supervisory Authority. Moreover, IG Forex broker is listed on the London Stock exchange and holds regulatory status with FCA.

The list of the best brokers in the UK trader using IG markets can take their pick from the 80 currency pair, including exotic currency pairs, major currency pairs, forex pairs, and Minor currency pairs available for trading. Some of the most known currency pairs are GBP/USD, HUF/EUR, and several more trade currencies like exotic currencies, exotic pairs, and other currencies & with the average spread.

Online broker has the best features; the IG top rated Forex broker web platform is very user-friendly, well designed, and can be easily customized. IG markets provide offers for its proprietary platform, MetaTrader 4 (MT4), and algorithmic trading tools that some UK brokers do not provide for its forex pairs. It also stops the loss of protection in market volatility where small changes always occur even cent higher or lower in a day.

Besides, users can find many valuable things, including IG’s guide, dealing desk, and informative, educational material that can help them learn the nitty-gritty of trading and know what key milestones have it achieved. Instantly depositing funds and withdrawing funds are straightforward, and they offer several options for the trader and avoid losing their money. Best overall broker Foreign exchange markets also provide you with updates as Floating currencies are constantly moving up and down in value against other currencies. Spreads start from 0.1 points and have a minimum spread of 0.6 pips for major currency pairs.

The trading fees of these UK fx brokers are very high for spread bets, CFDs, and trade stocks. For most traders, the product portfolio is minimal, and in most countries, this best UK forex broker offers only options and CFD trading (competitive pricing, best prices, competitive fees). Further, these brokers in the UK customer support needs improvement. You can also learn more about in this IG review to understand the trading platforms to make more profit and stop loss.

Moreover, the IG markets users can trade with the major forex pairs through spread bets and CFDs or even minor pairs (the difference between the buy and sell price alerts) or CFDs. Before, one should consider whether you understand how spread bets and CFDs work or are worth noting as you may be losing money, as to take the high risk of losing is part of trading forex and other assets.

Across the globe, the users using this best UK forex broker trader should remember that CFDs are complex instruments and come capital is at risk. In volatile markets, CFDs and Spread betting their combination creates high risk.

As 76% of CFDs retail investor accounts lose money when trading CFDs and trading spread bets with this provider, think before trading that can you take the high risk and avoid lose money as trading involves risk.

So be careful with money when trading spread bets and more, so and for smooth trading activities, understand how CFDs work, how spread bets work, and most importantly, whether you can afford to take risk as it may be unsuitable for all investors.

Pros

Cons

Top-class web and mobile trading platforms. cancel Restricted product portfolio.
Offers many withdrawal requests and deposit methods. cancel Customer support needs to be improved.
Offers excellent educational content for the user to access. cancel High broker fees for stocks and CFDs.

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Saxo Bank

Saxo Bank - Best UK based forex brokersSaxo Bank – World’s Best Broker

Founded in 1992, Saxo Bank is a fully licensed and regulated investment bank in Denmark, and it provides online trading and investment services. Financial authorities regulate Saxo Bank from across the globe, including the UK financial conduct authority and the Danish financial services agency (FSA). Saxo Bank provides its services globally & regulated by the FCA. In various parts of the world, its subsidiaries are found as separate legal entities. Saxo Bank offers excellent pricing for the benefit of its high volume traders.

Saxo Bank is attributed as the number one broker to trade CFDs and Forex while at the same time securing the top place in the fees and commission category, as being regulated saves you from the extreme volatility of the market. To be on the safer side, consider whether you understand the risks and how it works, as retail investor accounts lose. In contrast, trading as taking the high risk of losing is part of trading, and CFDs are complex instruments and maybe not be suitable for all investors. Thus avoid losing your money when trading spread and think before you can afford to take the next step and stop loss.

Brokers in the UK have some of the trading account types offered by Saxo Bank: the entry-level classic trading account, which requires a minimum initial deposit of $10,000. The platinum trading account requires a low initial deposit fee of $250,000. Saxo Bank offers investments of high-quality data trading, competitive fees, and research tools in its mobile app; thereby, the trader can trade while on the go — a feature not offered by many brokers; there is no dealing desk.

UK regulation platform also provides an excellent web platform and mobile platform. Further, brokers in the UK offer a comprehensive product range of product portfolios, which meets the expectations of high volume traders & it also acts as liquidity providers through aggregated feeds via ECNs or central bank. Always be alert when trading CFDs with this provider; as you know, retail investor accounts lose money when not careful during your trading activities.

Pros

Cons

The platform is easy to use for trading. cancel The minimum initial deposit is high.
Offers high-quality data research materials. cancel Does not offer 24×7 live chat.
Extensive product portfolio & mobile app. cancel High fees for bonds, options, and futures.

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CMC Markets

CMC Markets - Best UK forex brokersCMC Markets – Join Award-winning Broker!m

CMC markets can be described as a CFD, multi asset class & a spread betting broker having trading experience of 30 years. The FCA is regulated by the UK Financial Conduct Authority, which offers segregated funds and a high level of safety and security. Moreover, the CMC group can be described as a publicly traded company listed on the London Stock exchange and is a multi asset platform.

If the users want to participate in spread betting, this best UK forex broker has a wide range of financial products and automated execution; it offers tight spreads, financial instruments, training guides, entry orders control, regulated by the financial authorities, and the clients funds kept in segregated accounts.

The traders of CMC Markets can apply leverage to go short or long in trades in forex & has leverage limits, too, i.e., execute trades limit. Offers cryptocurrency, index, forex pairs, commodity markets, tightest spreads, variable spreads, attractive spreads, average spread, and treasury. Potential profits made from spread betting are not tax payable, no CGT, and No stamp duty, thus helping you make money. The typical spreads start around 0.7 points for EUR/USD, with no minimum deposit. In terms of platforms like MT4 and MT5 platforms, it doesn’t support MT5.

Pricing offered by CMC Markets trading platforms is favorable and is subject to a few taxes compared to other traders and even for an amateur trader (though it has competitive pricing). There are no trading commissions, and fx fees (offers commission free trading) earn their income through the spreads. (which can be minimum spreads, tighter spreads, ultra tight spreads). 

In this multi asset platform, You can go for higher leverage. Still, it is advised to be done by professional traders as high leverage risks losing your money, and so you should be constantly updated with key milestones that the platform has achieved & offers.

The best platform for traders who want to try spread betting because of the unique tax benefits offered for UK residents should choose this award winning platform of CMC Markets suited for professional clients. Get data verified by sources, be careful with your money when trading spread or other assets, and think you can afford to take the next step.

Several CFDs retail investor accounts lose money when trading CFDs and spread bets using this provider. So be alert while trading and avoid losing your money. Due to the leverage effect, these complex instruments carry a high degree of risk. Thus, receiving the loss is not suitable for all retail investor accounts as a high risk of losing is part of trading. Always be alert when trading CFDs with this provider and avoid losing your money.

Pros

Cons

Traders can leverage more than 9000 instruments that cover several asset classes. cancel This platform is not suitable for beginners traders.
Offers a high-class multi asset trading platform.
It provides technical analysis and florida sports bettings from their in-house market professionals.

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Dukascopy Bank

Dukascopy Bank - Most regulated brokers in the UKDukascopy Bank – Best UK Forex Brokerage Firm

Dukascopy Bank was founded in 2004 and is based in Geneva. It offers a wide range of banking services and has large brokerage operations, focusing primarily on CFDs (contract for difference). Dukascopy owns and operates the unique Swiss FX Marketplace (SWFX). There are different divisions in Geneva, Switzerland, and the rest of Europe. This UK forex brokerage account firm offers higher than average spreads, fees, the trading cost and provides a small product catalog depending on the account type.

Also, it provides an active trader program, which is an upgrade to lower spreads and commission fees. This forex trading platform UK is at par with Metatrader 4 (MT4), which offers higher commissions, most currency pairs, offers STP forex brokers, no dealing desk intervention, live chat support, and ECN brokers in the UK, and also has a minimum deposit of 100 USD.

Dukascopy Forex is licensed in Switzerland by the Swiss Financial Market Supervisory Authority (FINMA) and the European Union through the Financial and Capital Market Commission of Latvia. Despite that, many investor accounts lose money when trading CFDs with this provider. So be alert while trading and avoid losing your money, as this may not be suitable for all retail investor accounts. So make money while trading carefully; as you know, retail investor accounts lose money when not careful.

Dukascopy Bank broker in the UK offers a small product catalog with around 61 currency pairs, 24 indexes, 500 plus trade shares, CFDs, commodities, and two cryptocurrency CFDs. Forex is traded through CFDs, and this brokerage does not offer future contracts but has spot markets, option coverages, almost commission free trading, and forward contracts. However, check the Dukascopy review to know more about this platform in detail to make money.

Pros

Cons

Offer traders a world-class forex trading platform. cancel The trading costs are higher than average.
This brokerage provides advanced platforms for charting tools techniques, unlike other online broker. cancel Does not offer two-factor authentication.
Android and IOS sync well with desktop, web browsers support, and live chat. cancel Offers smaller product portfolio.

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Plus500

Plus500 - Easy-to-use Forex PlatformPlus500 – Easy-to-use Forex Platform

Plus500 trading platforms are one of the most extensive Forex broker services globally regulated by the FCA. It is operated by Plus500 Ltd, which makes millions of US dollar through Forex brokerage every trading day. The top Forex trading profits service of Plus500 is online Fx trading. It helps deliver Contracts For Difference (CFDs) at a high success rate and minimizes losses, though there is no guarantee for the same level of success for all. Tax may apply on trades.

Unlike many Forex brokers, Plus500 allows you to trade in the UK to diversify their Forex trades across multiple tradable assets (forex pairs, average spread crypto assets, tight spreads, even high degree risk management tools & strategies). Be careful as retail investor accounts lose money while trading CFDs with this provider as it may not be suitable for all investors, so avoid losing your money.

The broker in the UK also offers UK clients to trade foreign currencies from more than 50 countries to make money. Also, you can get unlimited demo account access. It offers tight spreads, risk management features, and average spread. It provides reviews in the apple app store, which is highly regarded among active traders, natively designed, and supports android devices that have earned high praise for the platform by customers. The customer service is 24 hours and 7 days a week.

Pros

Cons

Plus500, one of the best forex brokers UK, provides negative balance protection to its Forex trading accounts. cancel Plus500 lacks efficient customer service.
The broker website is easy to use and offers multi-functional best forex trading platforms. cancel The Plus500 site does not have enough education material and research data for professional trader.
The FCA completely regulates Plu500.
The broker also provides guaranteed stop-loss orders on high trading volume of Fx trades, multi asset, and support demo account.

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City Index

City Index - Top brokers in the UKCity Index – Global Forex and CFD Brokers

City Index, the trading platform, was established in 1983, and it is one of the leading global fx and CFD brokers. Besides, City Index is regulated by top levels of financial authorities such as the Australian Securities and Investment Commission, Financial Conduct Authority, and Monetary Authority of Singapore. City Index’s parent company is Gain Capital, listed on the New York Stock Exchange (NYSE). It is a significant advantage in security and safety as the City Index fx broker releases transparent financial statements regularly.

City Index fx broker offers a good range of leverage and low fee for the forex, index CFDs, and stocks, provides daily market analysis, is highly customizable, plenty of advanced order types, tight spreads, average spread, account types, and various investment opportunities. But there is an inactivity fee, and the stock CFDs fees are very high. It also has three account types – Trader, Premium Trader & Professional. It has 24 hour a day customer service. Be careful while trading CFDs with this provider, as sometimes traders lose money when trading.

City Index, one of the top forex brokers UK, has low non trading fees, such as withdrawal charges, and interest rates are meager; some brokers offer higher interest rates, which gives a more significant return. The account opening process with this forex trading platform UK is smooth and fast, and when the trader starts trading, they can use specific and high-quality research tools. Readout and learn more about the City Index reviews to understand more about the platform.

Pros

Cons

Hassle-free and almost instant account opening process. cancel CFD and stocks fees are high.
Offers exhaustive research tools and a free demo account. cancel The desktop platform is not user friendly.
Low fees for index CFDs and forex. cancel Restricted product portfolio.

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FOREX.com

Forex.com - Best brokers in the UKForex.com leading brokers of forex

  • Forex.com trading platforms were established in 2001 and are one of the leading brokers of forex. Forex.com is the brand name of Gain Capital which is listed on the New York Stock Exchange. Besides, forex.com is regulated by various financial authorities, including the UK or the US Commodity Futures Trading Commission and the Financial Conduct Authority (regulated by the FCA). 
  • Forex.com’s best forex broker UK trading platforms earned top awards for several categories in 2020, including commission fees, the offering of investments, professional trading, education, easy-to-use, crypto trading, leveraged products, advanced order types, and several more. 
  • As per several reviews, forex.com is a good option for all types of forex and CFDs traders across the globe. Tax may apply on trade, charges inactivity fee. Forex.com offers access to a broad range of markets (not just forex) and over 300 other financial instruments. 
  • Best traders use Forex.com and their web-based platform to navigate and browse various markets, analyze charts through trading Central, despite always conduct a proper search with research teams, and execute trades. It has 24 hour a day customer service. Be careful while trading CFDs with this provider, as sometimes traders may lose money when trading, so avoid losing your money. 
  • The alternative web platform of forex.com is a white-labeled version of Trading View, a popular charting web based trading platform app used for technical analysis. This platform offers around 67 indicators. Forex.com offers everything needed to trade forex, such as several currency pairs, more specialized tools, and low forex fees. You can learn more about Forex.com reviews and have a better idea about the platform.

Pros

Cons

Offers several types of currency pairs. cancel The desktop platform needs improvement.
Technical indicators research tools are much diverse. cancel Stock CFD fees are high & higher spreads.
Forex fees are low. cancel Does not offer many products for trading.

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XTB X-TRADE Broker

XTB - Best forex trading platform UKXTB – Regulated Broker

  • XTB trading platforms is headquartered in London, and it is a global fx and CFD broker. This company is regulated by various financial authorities globally, such as the UK Financial Conduct Authority and the Polish Financial Supervision Authority. 
  • XTB is listed on the Warsaw Stock Exchange (WSE), which is made to protect consumers. XTB trading platforms charge a meager fee for stocks, low trading costs, fx pairs, indexes, CFDs work, and forex minimum deposit and withdrawals are free (commission free trading). 
  • The trader can use multiple options for more minimum deposit funds, including electronic wallets (e wallets), bank wire transfers, credit card or debit cards, and a UK bank account, which has two account types standard & Pro. 
  • The accounts opening process is quick, completely free, and user friendly, though there is an inactivity fee and MetaTrader 5 support. Before proceeding, you must consider whether you understand how CFDs work, then can stop loss and be careful while trading CFDs with this provider. It even has free demo account support.
  • XTB offers maximum leverage, and users can access fx pairs, shares, metals, commodities, indices, and cryptocurrencies; crypto assets are mostly highly volatile. 
  • Several authorities regulate it, and its history goes back to Poland, and it is publicly listed on the WSE. You can also read more about the platform & can read the XTB reviews for further information.
  • XTB’s extensive list offers the users a guaranteed stop loss feature, help with pending or open positions to minimize losses, account insurance, commission free trading average, industry security, swap fees, and trading courses for beginner traders, retail traders, and professional traders, which in turn end up explaining complex financial subjects. 
  • So it would be best if you considered whether you understand how CFDs work to make better profits and, most importantly, whether you can afford to take the risk.

Pros

Cons

Fast execution speed and free withdrawal and deposits. cancel Priority customer support needs to be improved.
Faster account opening process. cancel Stock CFD fees are high.
Forex and stock index CFDs fees are low cancel Restricted product portfolio, mainly Forex and CFDs.

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FXCM

FXCM - Leading forex trading platformsFXCM trading platform

  • FXCM trading platforms were founded in 1999 in the United Kingdom. It is an established international online CFD and Forex brokerage firm. The organization’s primary mission is to provide you with a safe trading environment for a trading style that suits everyone. 
  • Forex capital market, or FXCM (FXCM LTD or other firms within the FXCM group of companies), is a Forex broker based in the UK offering CFDs and Forex. Its primary shareholder is the Jefferies financial group.
  • FXCM brokerage has several offices in many countries like South Africa and Australia. This broker is regulated & one of the most popular and leading online forex brokers and currently caters to the needs of florida sports betting and experienced traders to suit their different levels of trading styles.
  • FXCM brokerage offers online education and training to both florida sports betting and experienced traders in the form of live webinars, florida sports bettings articles, and political florida sports bettings to suit their trading style, which is a good starting point for traders.
  •  Always take real time and seek investment advice before going ahead with the trading history shown before because sometimes investment decision based on history doesn’t work. Also, consider trading costs. The broker also offers Forex Direct Market Access (DMA) accounts. 
  • It provides leverage to users and has FXCM market insights, a range of currency pairs, advanced order types, credit card support, fx pairs, and offers a wide range of markets trader tools like FXCM apps, FXCM plus, live FX trading signals, some may be tax free trade, and an online market scanner.
  • FXCM demo account is also helpful for traders, but no MetaTrader 5 support. Read our FXCM review for more information to know more about the platform.
  • Risk Warning – CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Retail investors lose money when trading CFDs with this provider. So never judge based on past performance is no guarantee of future results, so think before trading that you can take a high risk.
  • So be alert while trading and avoid losing your money, and you must consider whether you understand how CFDs work and, most notably, whether you can afford to take a risk. Thus those traders looking to trade often should think twice as it may not be suitable for all retail investors.

Pros

Cons

Several trading tools are provided for free. cancel Restricted product portfolio.
The minimum deposit stands are low. cancel This brokerage does not accept US clients.
Offers exhaustive research support and educational materials.

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XM.com

XM - Online trading platform for UKXM – Global Forex And CFD Brokerage Firm

  • XM’s parent company Trading Point Holding is a global fx and CFD brokerage firm established in 2009. Moreover, Trading Point Holding has two brands such as trading.com and XM. XM trading platforms are one of those forex brokers available worldwide. 
  • Top-tier financial authorities regulate them like the Australian Securities and Investment Commission, Cyprus Securities and Exchange Commission, and International Financial Services Commission of Belize.
  • XM Group trading platforms offer low withdrawal requests, a $5 minimum deposit, and CFD broker fees. Opening an account with this broker is very fast execution and user-friendly. It provides several educational resources, tools like a free demo account, MetaTrader 5 Support, and webinars that other platforms lack in this department. 
  • One of the most regulated market makers in the forex industry provides all the investment advice that will help you decide. But most importantly, whether you can afford to take the risk, as CFDs are complex instruments, thus taking the high risk of losing money rapidly due to leverage, one should always consider trading costs. So be careful while trading CFDs with this provider, as it comes with a high risk. 
  • XM offers two forex trading platforms that help first-time traders and advanced traders; you can access the demo and real accounts (multiple trading accounts). Best forex trading platforms also provide multi-award-winning platforms like MetaTrader 4.

Pros

Cons

CFDs and withdrawal fees are low for these trading platforms. cancel This brokerage firm charges inactivity fees.
It provides the fastest trading engine currently in the industry by offering 1 million transactions per second. cancel For traders who wants to withdraw fiat currency, there is no option for anonymity.
Fast execution and easy account opening, MetaTrader 4 support. cancel Forex fees are average.

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IC Markets

IC Markets - Best Forex CFD ProviderIC Markets – Best Forex CFDs Provider

  • Founded in 2007, IC Markets is an Australian ENC forex broker. International Capital Markets holds an Australian financial services license (AFSL) No. 335692 and is authorized and regulated to carry on a financial services business in Australia, limited to the financial services covered by AFSL. 
  • IC Markets is one of the best online brokers available for users. It offers the highest leverage, low fees, competitive spreads, competitive fees, raw account spreads, and raw spreads start from 0.0 pips; the average is 0.01. The minimum deposit is around $200.
  • IC Markets users can leverage free high-quality platforms to trade for the trader’s benefit. They provide the three best forex trading platforms, allowing traders to choose several tools, such as the demo account, credit card support, and technical analyses to place the trades. 
  • Moreover, IC Markets offers low forex fees, and it is easy to open an account like the Islamic account, MetaTrader 4, or MetaTrader 5. The deposit and withdrawal methods are user-friendly, have the lowest spreads, and are accessible. You can read more about the IC Markets review
  • IC Markets offers day traders looking for a wide range of markets & the underlying asset and trading instruments. Users of IC Markets can leverage more than 80 instruments, including CFDs, indices, commodities, stocks, futures, precious metals, and currency pairs. It also offers cryptocurrencies like Bitcoin and Ethereum.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Many retail CFD accounts lose money when trading CFDs, and there is a high risk of losing money rapidly while using CFDs with this provider as past performance is no indication of future results. 
  • So consider your risk tolerance and objectives before going ahead; think before trading that you can take the high risk. So be alert while trading and avoid losing your money and so must consider whether you understand how CFDs work and, most notably, whether you can afford to take a risk and are a good fit to trade.

Pros

Cons

This broker offers free minimum deposit and withdrawals. cancel Nil negative balance protection.
Fast and easy account opening process. cancel This broker does not offer investor protection.
Forex fees are lower.

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AxiTrader

AxiTrader - leading FX PlatformAxiTrader – leading FX Platform

 

  • AxiTrader is a leading FX broker. It was founded in the year 2007. AxiTrader is regulated by several financial authorities globally, like the Financial Conduct Authority (FCA), Dubai Financial Services Authority (DFSA), and the Australian Securities and Investment Commission (ASIC). 
  • AxiTrader is an exclusive MetaTrader-broker platform that offers forex CFDs. The users can leverage over 80 currency pairs, around 65 CFDs, metals, commodities, indices, and cryptocurrencies over the standard account and Pro MetaTrader 4 platforms.
  • AxiTrader charges meager fees from its forex traders in the UK. A great advantage is that they do not charge any inactivity fees. Moreover, minimum deposits and withdrawals are free of charge. Besides, the account opening process is quick and completely digital. It comes with high product features and doesn’t charge a commission on trades. 
  • AxiTrader is one of those brokers which offer a small range of forex and CFDs. Besides, customer support is only available through email, which is 24×5, and the research options are minimal. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 

Pros

Cons

Account opening is fully digital. cancel Customer support needs to be improved.
No fees for deposits and withdrawals. cancel Research tools are limited.
No inactivity fees and trading fees are lower. cancel This broker only offers CFD and forex trading platforms.

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Oanda

Oanda - Great Trading PlatformOanda Trading Platform

  • Oanda was established in 1996 and is recognized as one of the leading American Forex brokers, and it now offers services in Europe and Asia as well. This broker discloses its financial statements and is regulated by top-level authorities such as the US retail foreign exchange dealer and the UK Financial Conduct Authority (FCA website covers all). 
  • One of the most advantageous features of an intuitive trading platform is that it charges very low CFDs and Forex fees. Non-trading and withdrawal fee for the bank transfer is pretty high, and we also need to consider other fees that are not charged (low cost). 
  • Oanda fxTrade offers a mobile app that smoothly opens an account that is very easy to use and has high-volume trades. It provides quality market research teams that include excellent charting features, such as around 33 technical indicators, for the benefit of its traders looking to make the deal.
  • Oanda offers an excellent range of web and mobile forex trading platform that is user-friendly and quick where the user can leverage it. Besides, a retail client account can be opened without a low minimum deposit (a low cost expense). You can learn more about the platform & can read out the Oanda broker review
  • CFDs are complex instruments and come at a high risk of losing money rapidly due to leverage, and the trader should note that their capital is at risk. 76.5% of CFDs retail investor accounts lose money when trading CFDs and have a high risk of losing their funds with this provider; before trading, you can take the high risk and avoid losing your money. 
  • So it would be best if you considered whether you understand how CFDs work and, as they come with high uncertainty, and most importantly, whether you can afford to take the risk.

Pros

Cons

This broker offers low fees. cancel Offers only CFDs and forex.
Web trading platform & mobile app are easy to use. cancel Withdrawal fees are higher.
Account opening is easy and completely digital. cancel The customer service team needs to be improved.

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Markets.com

Markets.com - Most Popular Trading PlatformMarkets.com – Most Popular Trading Platforms

  • In 2010, Markets.com broker was established, and it is one of the leading brokers. Most popular global CFD and forex brokers based in the UK offer the FCA regulated broker and have such significant assets (you can visit the FCA website for more details). Besides, it is regulated by high level financial authorities such as Cypriot CySEC and regulated by CYSEC, and the UK Financial Conduct Authority. 
  • Moreover, Markets.com’s MarketsX CFD trading platform is well designed and easy to use; the user can leverage several features like market analysis, integrated research, educational resources, video tutorials (videos explaining trading strategies), and webinars as these platform tutorials help understand it better.
  • MarketsX’s withdrawal and minimum deposit methods are free and fast, and the trader can leverage several payment options, including electronic wallets and the credit or debit card. The account opening process is quick and user-friendly, and it also offers high-quality exhaustive research tools like good interactive charts, quality data for site visitors, and trading ideas. 

Pros

Cons

The account opening process is fast. cancel Trading fees are higher.
Offers excellent trading tools for research and learning. cancel Restricted product portfolio.
Offers free and fast withdrawal and deposits.

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eToro

eToro Copy Trading PlatformeToro Copy Trading Platforms

eToro is a leading online trading platform established in 2007; it was formerly known as RetailFX and has become one of the best online brokers around the world for social trading for retail clients. To know more about the eToro platform, read our eToro reviews for more information & details. They are regulated by Cyprus Securities and Exchange Commission. 

eToro’s OpenBook social trading platforms have changed how traders in the financial trading markets trade. It has made it easy for every trader to access the International forex markets, irrespective of the experience levels of the traders—good selection of pairs for trade and many great options CFD broker for people to choose from.

eToro’s platform allows the florida sports betting traders to copy trading the trade strategies of other successful professional account traders and execute trades strategies accordingly. Features like copy trading with several traders also have risk management tools and strategies.

eToro offers traders more profitable trades and reduces potential losses like every other trader. Even get more followers for their incentive initiative from eToro, and though one year of inactivity, it charges the same amount.

On the eToro website, you can see the complete list of features like copy trading, a portfolio management service & more; the site visitors get leverage on commission-free stock trading. The account opening process is fast and easy; also a free demo account assist, phone support, short selling, low spread, copy trading, check what fees apply, and has high minimum deposit (where you can trade and try in the risk free environment with many virtual funds so make your foreign exchange knowledge count before you start trading).

Pros

Cons

Great social trading experience. cancel Forex fees are higher.
Account opening process is fast and easy. cancel Withdrawals are slow.
Stock and ETF trading is free. cancel Offers one account base currency.

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Interactive Brokers

Interactive Brokers offers Lowest or Zero Commission ChargesInteractive Brokers offers the Lowest fees or Zero Commission Charges

Interactive Brokers is an international Forex broker service. It was ranked as one of the top broker services in the world in a 2020 Investopedia review. According to the review, Interactive Brokers offer a plethora of tools for beginner Forex traders, even advanced traders, order types, and sophisticated forex UK investors like video courses and more. It tracks global Forex investing trends efficiently to help its customers in forex pair trade. This Forex broker firm helps connect electronic exchanges with Forex trade equities and futures in the UK offer it worldwide. Recently, Interactive brokers rolled out their advanced charting research tool to locate international trading funds opportunities. Though a significant risk is always there so trade carefully.

Pros

Cons

Interactive Broker has a Replicator tool to find more profitable to trade Forex pairs. cancel Streaming data from the firm takes place only on a single device for every trading instance.
The order router (buy or sell orders) of this firm is innovative and designed for advanced Forex traders.
This broker provides multiple currency trading offerings in the UK.

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LONDON CAPITAL GROUP (LCG)

LCG - Leading FX BrokersLCG – Leading FX Brokers

LCG is one of the leading FCA regulated brokers. Unlike most other brokers, it offers a wide range of CFD and spreads betting instruments over several different types of assets, including forex, cryptocurrencies, commodities, bonds, and stocks. LCG offers very low spreads and there are no commissions while trading with this brokerage firm. LCG makes sure that the client funds are not mixed with corporate funds and are per the UK Financial Conduct Authority (FCA). This FCA regulated forex is also one excellent option for beginners.

LCG offers leverage and helps the trade forex access several financial instruments that can be traded from the technical indicators chart or a florida sports betting order window. LCG regulated brokers offers its users a demo trading account and it is free, but no automated trading. Moreover, there are no differences between the demo accounts version and the live version; a trader can use all the features like mobile app, etc, and functionalities before they start live trading using virtual money. CFDs retail investor accounts lose money when trading CFDs and there is a high risk of losing money while using CFDs this provider.

Pros

Cons

Excellent web trader based trading platform cancel No automated trading
Excellent mobile apps cancel Does not integrate third-party tools on the platform
Offers demo mode for free for its traders

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Pepperstone

Pepperstone - Leading Trading PlatformPepperstone – Leading Trading Platform

Pepperstone is one of the leading forex broker Australia platform that offers forex and CFDs. Pepperstone was established in 2010 and started its operations in London in 2015 to serve its European clients, it is also referred to as a gold standard of trading around the globe which has the best overall rating high compared to others and is one of the best forex brokers and an FCA regulated broker. Pepperstone broker in the UK has grown remarkably since its inception. Unlike many other brokers in the past, it has grown steadily over the past decade with updated investment trends, is market makers, and now has a client base of more than 57,000. Its daily average transaction size is $12.55 billion.

Pepperstone supports accounts like a razor account, a standard account & an Islamic account. Pepperstone’s active trader program also helps you out and most trades are done smoothly when you open a live account and has a minimum spread of 0.6 pips for major pairs. Pepperstone trading platforms users can leverage and access 1200+ trading instruments across equity, including forex, indexes, trading CFDs, cryptocurrencies, flexible leverage, lowest spreads, a range of currency pairs, and commodities (These are all offered as CFDs). Pepperstone offers accounts like a razor account and a standard account. Their primary focus is on FX trading, with 61 currency pairs offered to the traders (fx market), Some brokers are referred to as market makers as well known for making money with spreads.

It also has a youtube channel which is helpful for traders. However, check our Pepperstone reviews and know the in-depth details of this broker to explore it efficiently. Trading CFDs comes with risks. 76.5% of CFDs retail investor accounts lose money when trading CFDs and there is a high risk of losing money when using CFDs with this provider. So Always seek the help of expert advisors.

Pros

Cons

Customer service is excellent cancel Offers only CFDs
Free withdrawals and deposits cancel Does not offer investor protection for non-EU clients
Fees are low, all instruments are CFDs cancel Offers only basic florida sports bettings for its users

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FxPro

FxPro - Forex and CFD TradingFxPro – Forex and CFD Trading

Founded in 2006, FxPro is one of the best regulated brokers in the world. It is operational in the UK and has cleared the tier-1 and tier-2 jurisdictions of the FCA. FxPro trading platforms is a low-risk Forex broker. unlike other brokers, it helps investors, including forex & CFD traders with instant trading using mobile trading app. The FCA regulated forex firm also trades CFDs on Forex pairs (great selection of pairs). FxPro has a flexible Forex brokerage service. Its pricing options, flat fee, and execution methods have been diversified. Be careful even retail investor accounts lose money while trading. FxPro regulated brokers is an industry leader in the Forex brokerage marketplace. It helps traders gain skills on MetaTrader and cTrader platforms. The firm also provides a proprietary platform called FxPro Edge.

Pros Cons
The process of opening an account on FxPro is very easy. cancel The firm charges penalties on an inactive account.
The firm does not charge fees on deposits and withdrawals.
FxPro customer support service is excellent.

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ThinkMarkets

ThinkMarkets - International Awards Customer Support TeamThinkMarkets – International Awards Customer Support Team

ThinkMarkets best forex brokers is a leading Forex trading and broker company. It is available for UK traders and provides access to an easy-to-use proprietary platform. ThinkMarkets has several valuable chart reading tools for the forex community to use in its various asset classes. ThinkMarkets trading platforms offer exclusive services in three different languages for florida sports betting and seasoned Forex investors. The firm also shares a decent library of educational resources that explain how it operates securely and safely to helps investors with hours of year testing data. While trading financial investments such as foreign currency pairs, most of its retail investor accounts lose money. ThinkMarkets ensures that it doesn’t happen on a big scale.

Pros Cons
ThinkMarkets is an FCA-regulated Forex brokerage firm. cancel The platform does not enable fixed spreads for Forex trading accounts.
The firm offers a Forex trading environment which is the best in the industry.
It does not have minimum deposit limitations.

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Wrap Up

The trader should keep in mind that finding a perfect Forex broker is not always easy, especially if you are a florida sports betting trader and do not know what you are looking for. As already specified, there are several factors to be considered before choosing a reliable forex broker where economic developments place a key influence in that even market volatility has a great impact on trading. A financial services compensation scheme comes into play by FCA which compensates for the loss as many brokers helps investors across the globe with this facility. In some cases Tax may apply so be mindful before going ahead.

By reviewing the forex brokers UK given above (UK traders) the list of the best platforms with no leverage restrictions, you should be able to select from the best forex brokers that suit your trading requirements features like copy trading environment, lowest spreads,  average spreads, hours of year testing, etc. (platforms provide rigorous data validation process with min error rate) When you have chosen the right forex broker from the multitude of forex brokers available, you can start forex trading with confidence and thereby make more profits in the forex market across the globe.

FAQs

Is forex trading legal in the UK?

Forex trading is completely legal in the United Kingdom, and there are regulatory and judicial authorities such as the FCA (regulated by the Financial Conduct Authority) and several more. Moreover, the trader benefits from the customer services and the dedication offered by the brokers to keep the transaction secure. This is one of the reasons why forex brokers UK are considered the best.

What is the best forex broker for beginners?

Trading in the forex market can be profitable for both florida sports betting and experienced traders. However, extreme caution should be exercised if you are a florida sports betting trader looking for profits. By trading in the forex market, it is always best to start with a demo account to analyze, research, and refine the trading strategies. After gaining confidence, the traders can start with live trading.

How to choose the best forex broker?

To start trading with foreign exchange (Forex) currency, the trader should find a reliable forex broker among the available brokers in the market. A forex broker can be defined as a trading company that provides the trader’s access to their forex trading platform and enables them to buy and sell foreign currencies.

How do you pay tax on Forex?

In the U.K., if you are liable to tax on personal profits from Forex trading, it will be paid and charged as Capital Gains Tax (CGT) at the end of the tax year.

How do I know if a forex broker is reliable?

First, make sure your broker is properly licensed and regulated. Next, compare the account offerings, trading platforms, tools, and investment research provided by each broker

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