11 Best Forex Brokers UK In 2025 + Pros & Cons

Its low spreads, high leverage options, and diverse account types cater to both beginner and experienced traders. Remember what I was saying about the importance of a well-balanced portfolio? If you understand the importance of branching out into other asset classes but prefer to stick to forex or non-crypto CFDs, you’ll need a broker with access to a wide range Cryptocurrency of markets. Specifically, you’ll need to look for a minimum of 50 currency pairs, and some combination of indices, options, shares, exchange-traded funds (ETFs) and options. Oh, and a trading platform that supports multiple trading strategies.

How Popular are the Top Forex Brokers?

Another key consideration should be the spreads and fees that the forex broker charges. There are several operating models that the turnkey forex solution best forex brokers in the UK use. The key models are Dealing Desk, No Dealing Desk (NDD), Electronic Communication Network (ECN) and Straight Through Processing (STP). A UK-regulated forex broker is one that holds a (FCA) license and is subject to its supervision, ensuring that the broker abides by stringent laws and regulations to safeguard traders. An unregulated UK forex broker may not adhere to the same requirements because they are not authorized or supervised by any regulatory body. According to our research of forex brokers in the UK, AvaTrade is the most popular broker choice in the United Kingdom.

Does XM provide customer support?

The best way to check this is via the FCA website, where there is a published list https://www.xcritical.com/ of FCA-regulated forex brokers. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money.

How does the available leverage of UK FCA-regulated brokers compare to the leverage at brokers regulated offshore?

So when it comes to the money you need to begin trading, your forex broker is a key factor. We rated Swissquote as best for beginners based on the strength of its platform, educational resources, and customer support. In our hands-on tests, we found Swissquote’s Advanced Trader Platform to be both user-friendly and feature-rich. Traders new to the markets can take advantage of impressive educational offerings, including detailed courses, live webinars, and downloadable ebooks. When we reached out to Swissquote via live chat, phone, and email we had a positive experience with customer support.

Strategies for UK Forex Trading

• This is 72% lower than the industry average of 0.22 pips, though you have to pay $3.50 per lot traded, which is about average.
• Forex brokers generally have Pro accounts (for Professional traders) & Standard Accounts (for Retail traders).
• With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders.
• The best way we like to test the support is by asking technical questions, and we found the responses impressive.
• Beginners may want to start trading with stable and liquid pairs such as the EUR/USD and EUR/JPY.
• Profits from spread betting are free from stamp duty and capital gains tax because it is classed as a short-term bet rather than an investment.

However, the broker’s lack of negative balance protection in all regions and the absence of Islamic (swap-free) accounts may not suit all traders. Overall, its advanced tools, global market access, and competitive pricing make Interactive Brokers a top choice for serious traders in the UK. FP Markets is one of the best forex brokers in the UK due to its competitive trading conditions, extensive range of tradable instruments, and strong regulatory framework.

67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. 75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

XM Ultra Low accounts also require a low minimum deposit, making it accessible for beginners. Overall, XM can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 1000+ trading instruments. A CFD trader must make an insurance claim through the Financial Services Compensation Scheme website to submit a claim.

Consulting a tax advisor or accountant who specializes in forex trading can provide personalized guidance based on your circumstances. The core concept of forex trading is to exchange one currency for another with the expectation that the currency you buy will increase in value compared to the one you sold. Forex traders aim to profit from the fluctuations in currency exchange rates, which can be influenced by a wide range of factors, including economic data, political events, and market sentiment. Means prioritizing Financial Conduct Authority (FCA) regulation to ensure your funds are secure and your trades fair.

Plus500 also employs advanced security technologies, including SSL encryption and two-factor authentication, to ensure the safety of users’ data and funds. These regulatory bodies ensure that eToro adheres to strict standards of financial transparency and client protection. Additionally, eToro employs advanced security measures, including encryption and two-factor authentication, to safeguard users’ data and funds. EToro offers over 40 currency pairs, primarily focusing on major and some minor pairs.

Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. If you do want access to trading bonuses, be aware that these firms are unlikely to be licensed by a top regulator, such as the FCA. Leverage allows you to put down a small amount of cash in order to take larger positions. The margin is how much money is required to open the leveraged position. Yes, CMC Markets charges an inactivity fee of £10 (or currency equivalent) per month if there is no trading activity for 12 months.

This increased exposure can magnify your gains by this margin without you having to invest the same amount of money that would usually be needed for such a trade at the outset. The other way to trade currencies is to profit from changes in the exchange rate. Dayana Yochim is a former Senior Writer/Editor at Reink Media Group who has written about personal finance and investing for more than 20 years.

Get ready to stay ahead of the curve with our regular updates designed to help you make informed trading decisions. FxScouts is committed to ensuring protection of all personal information that we hold, and to provide and to protect all such data. We recognize our obligations in updating and expanding this program to meet the requirements of GDPR. FxScouts is dedicated to safeguarding the personal information under our control and in maintaining a system that meets our obligations under the new regulations.

Any reliance you place on such information is strictly at your own risk. The brokers I have suggested above all meet these minimum requirements and have a good reputation. However, you should bear in mind that this also means that any losses you make will be magnified in the same way.

For beginners, CMC Markets provides an array of educational and research tools. Meanwhile, experienced traders benefit from dedicated sites, rebates, and a free API interface. The platform is renowned for its reputation and security, being listed on the London Stock Exchange.

The app is responsive and fast when switching between charts, while other trading apps we’ve tried felt clunky and slow, so it’s a breath of fresh air using Plus500’s app. A nice added touch was the haptic feedback when switching between the charts, which is useful if you accidentally swipe to another chart. However, if you want to use custom indicators, you’ll have to use MetaTrader 4 or TradingView directly, as the OANDA Trade platform does not support custom indicators.