Best UK Forex Brokers 2024 Top 10 Forex Trading Platforms

Some established names you may already recognise, but new firms are constantly emerging, offering enticing new account features and promos. Check with your broker about the inactivity fee and when it is applied to avoid any surprises. Swap fees can sometimes be viewed within the broker’s proprietary platform, and they can also be viewed in MetaTrader by right-clicking the instrument and selecting ‘specification’. First, you should check whether the broker is regulated by the UK Financial Conduct Authority. For institutional players dealing with high trading volumes, MultiBank delivers a robust FIX API solution that guarantees direct market access and ultra-fast execution. Trading in Forex/ CFDs and Other Derivatives is https://www.xcritical.com/ highly speculative and carries a high level of risk.

Which forex broker has the best trading platform?

With eToro’s main turnkey fx focus on their exceptional copy trading tools, you may find eToro lack in standard features one would expect to find on a good trading platform like MetaTrader 4. This is okay if you are copy trading, but it’s not the best when trading the markets manually, as its charting is limited compared to other platforms. We were disappointed that OANDA didn’t offer share CFDs, which let it down a touch in our review. However, the excellent trading platforms, low trading costs, and strong regulatory approvals helped overcome this negative. We found the OANDA Trade platform particularly beneficial as you can set your trade sizes, which is perfect for lowering your risk if you are a beginner. Alternatively, OANDA allows you to trade forex on TradingView, giving you access to a platform with advanced charting tools with OANDA’s markets and low spreads.

eToro – Excellent Industry Reputation 📚

• Furthermore, Tickmill supports a wide range of currency pairs, provides helpful education materials and offers fast and free withdrawals.
• My research showed that the platform allows you to employ 80+ technical indicators and a variety of order types, such as market orders, one-click trading, and limit orders.
• One reason foreign exchange trading has grown in popularity over the years is because of CFD trading accounts.
• FXTM ranks high on my listing for best Forex brokers in the UK, as it maintains one of the cheapest fee structures in the industry.
• Trading forex (currencies) in the United Kingdom (U.K.) is popular among residents.
• Tickmill stands out for serious beginners and more experienced traders looking for a trusted broker with strong MetaTrader support.
• This Forex broker is actually one of the world’s oldest and largest, being founded in 1974 and currently boasting 313,000 active traders.

The FXTM Invest portal, the broker’s copy trading service, allows professionals to become strategy managers and earn extra income from followers. Managers can receive up to a 30% profit share on profitable trades from each investor following their strategy. RoboMarkets traces its origins back to 2014 when the founders of TiqIQ, a forex broker, bought out Wintech’s stake in the business.

Can I trade with a U.K. forex broker if I reside in the EU?

When it comes to leverage trading, IG Markets allows users to multiply their potential returns by 5-33x. That means you can start with a small capital and reap juicy returns while trading with this broker. The best part is that you can start with any amount within your budget limits since IG Markets has no minimum deposit requirement. We like Eightcap as they offer an overall decent service with low average spreads from 0.06 pips on EUR/USD with their RAW account. 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.

What fees should you consider when choosing a broker?

It also offers several trading platforms like ZuluTrade, MT4, and NinjaTrader. Like most forex brokers, it has a proprietary platform called Trading Station – this is easily the most user-friendly. It also includes a comprehensive educational section perfect for learning the ropes of forex trading. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What fees should you be aware of when choosing a forex broker?

The cTrader Pepperstone trading platform is typically reserved for more seasoned, experienced traders who want deeper insights. One of the best features of XTB is the research and education available. The platform makes every effort to set its traders up for success, and it’s clear here.

What is the best Forex trading platform in the UK?

Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more. The FCA is the primary regulatory body for CFD brokers in the United Kingdom. As a regulatory authority, the FCA controls the trading environment in the region.

XTB is the top pick for the best beginner-friendly forex trading platform in the UK with an impressive collection of 200 lessons included in the Trading Academy. The platform also features robust research and analysis section that includes tools for market sentiment analysis, an integrated live news feed, and a charting feature with up to 39 technical indicators. The advanced tools are easy to navigate and straightforward to use, making the best orex broker appealing for beginner forex traders who wish to study market behaviour.

Which Forex Broker In The UK Has The Lowest Spreads?

By navigating to the brokers homepage, you can find their FCA registration number. Plus500 has invested heavily in its proprietary WebTrader platform, which has taken the ease of use to a new level. Like the US broker Robinhood, Plus500 has raised the bar in user experience with a super minimalist, and intuitive platform. For many, this is a major improvement on the dated look and feel of the widely used MetaTrader platform. Based on our hands-on analysis, we’ve identified 8 best options tailored to various trading needs. While some traders may opt to do a self-assessment when calculating taxes, if you are not sure it is best to find a qualified accountant such as an ACCA certified or ICAEW chartered accountant.

For those who want to access their account or execute positions on the go, a forex app is a must. Below are some of the most important factors that should be considered when searching for the best forex broker. Transactions in the forex market are presented as a pair of two currencies, for example, GBP/USD or EUR/GBP. Both of these pairs allow you to speculate on the value of GBP in relation to other currencies – the USD and EUR, respectively.

Hostingdata.co.uk operates by earning a small fee when readers visit products or services we discussed. In addition to MT4 and 5, FxPro has a proprietary platform called FxPro Edge and another third-party platform called cTrader. This plethora of interface options means that you’ll be able to find something that suits your style no matter what, though none of these are particularly great for beginners. Not only that, but the platform is made to do various things from the same window, such as analyse charts and place trades. Education is the most critical step and will dictate the profitability of any portfolio. Beyond that, select the Forex broker most suitable to your needs, make a deposit, and you can embark on your Forex trading venture.

FP Markets is fully regulated by one tier-1 regulator (highest trust score in the industry). Yes, Pepperstone provides a free demo account that allows traders to practice their strategies and familiarize themselves with the trading platform without risking real money. Overall, Pepperstone can be summarised as a trustworthy and worthwhile broker that is very competitive in terms of its trading fees (against major currency pairs). Yes, XM provides a free demo account for traders to practice their strategies with virtual funds. The demo account is available for an unlimited period and offers real-time market conditions. The Best Forex Broker in the UK is Pepperstone, which provides a solid overall service with low spreads on the most popular markets and quality trading platforms.

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider. IG has some of the lowest spreads, which is attractive for traders looking for a good deal. Also, IG is commonly ranked as one of the UK’s top retail forex providers. The best forex broker allows you to quickly trade from the web platform and you can automate the forex trading experience with MT4. Those who wish to advance their trading knowledge can benefit from IG’s far-reaching educational resources that are categorised based on their level of experience, and penned by leading financial experts. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.74% of retail investor accounts lose money when trading CFDs with this provider.

However, breaking it down into the features above can be useful to speed up your search and support easier decision-making. If your broker doesn’t provide 24-hour support, make sure their contact hours align with the times you normally trade. In the UK, the forex market is at its most active just after 8 am GMT when the London session opens. MT4 automatically comes with supported mobile apps, though UK brokers that offer proprietary terminals increasingly provide their own bespoke applications that better integrate with their systems. These are commonly charged by ECN forex brokers as it is typically their main source of revenue.

After that, you’ll need to input all the details about your trading account, such as your financial objectives, investment strategy and time horizon. IG requires a minimum deposit of £250 and charges particularly high inactivity fees. But the inactivity window is pretty long (two years), and any other fees are transparent and upfront before you make a trade. It offers high-volume trades, so it’s arguably the best for traders who like to make big trades or aggressive moves relatively frequently. It also provides a proprietary platform with special spreads for their majors. The platform is customisable and functions well enough on desktops, although it’s far from the most user-friendly platform on the market.