Best for beginners: Etoro
Best for experienced traders: IG
Super easy to use and learn – Copy trading and social trading
Access to a wide range of markets – Superior tools and charts
51% of retail CFD accounts lose money when trading CFDs with this provider.
70% of retail CFD accounts lose money when trading CFDs with this provider.
The best UK forex brokers and trading platforms for beginners and experienced traders
We only review established, trusted and FCA regulated UK forex brokers, trading apps and platforms. Plus, we offer completely free tools to help you on your trading journey.
Our top five in 2024:
Broker | Minimum deposit | Currency pairs to trade | Risk warning | More info |
IG | £250 | ~80 | 70% of retail investor accounts lose money when trading CFDs with this provider | Visit IG |
Etoro | $50 | ~50 | 51% of retail investor accounts lose money when trading CFDs with this provider | Visit Etoro |
Pepperstone | £1 | ~60 | 75.3% of retail investor accounts lose money when trading CFDs with this provider | Visit Pepperstone |
Spreadex | £1 | ~60 | 64% of retail investor accounts lose money when trading CFDs with this provider | Visit Spreadex |
XTB | £1 | ~50 | 76% of retail investor accounts lose money when trading CFDs with this provider | Visit XTB |
Best UK forex brokers for beginners
Etoro
Spreadex
Best UK Forex brokers for intermediate traders
IG
Plus 500
Pepperstone
Best UK Forex brokers for professional traders
XTB
Interactive Brokers
Saxo
Forex Trading platform UK #1 – IG: Trade over 17,000 markets with the UK’s largest and most established broker
Founded in 1974, IG is one of the oldest and best established forex brokers and trading platforms in the UK (and in many other geographies) and offers spread betting and CFD trading in 17,000 different markets to more than 178,000 traders and has 16 offices spread to 5 continents. IG is regulated by the FCA. Clients’ funds are kept in segregated client bank accounts in top-tier banks and separate from the company’s funds. Furthermore, IG employs industry-standard 256-bit SSL encryption technology to ensure data security on the website and day trading platform.
Broker Offerings
Bonuses and Promotions
IG does not offer any bonus or promotions.
Asset Range
Asset Types for IG |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Bonds, Options |
Trading Platform Review
Mobile trading App
IG has its own proprietary mobile trading platform which offers fast order execution, advanced technical charts, personalised trading alerts, trading signals, and deposit & withdrawal options. The desktop platform features live news and analysis feeds and IG TV channel as well. IG also offers MetaTrader 4, ProRealTime and L2 Dealer trading platforms for Professional traders who are looking for specialised systems.
Deposit/Withdrawal Options
Credit card, debit card and bank transfer.
Customer Service
In compliance with MiFID II regulation, IG classifies clients either as a Retail Trader or a Professional Trader. Trading conditions and protection measures are provided accordingly. Every client is assigned a dedicated account manager, who maintains the communication between the trader and the company. Along with a comprehensive Help Centre, IG has an award-winning customer support team which is available from Saturday 08:00 to Friday 22:00. IG offers a wide range of resources for the traders to develop themselves: £10,000 demo account, academy with webinars and podcasts, and a community of 60,000 traders discussing financial markets.
Forex Trading platform UK #2 – eToro: pioneer of the Social Trading revolution and best for beginner traders
In 2007, eToro disrupted the trading with their eToro trading platform. In 2010, they launched the world’s first social trading platform, OpenBook, featuring CopyTrader innovation, allowing traders for the first time to copy successful traders and their positions. This became a pivotal innovation, which has been emulated by its competitors ever since. 2016 was the year they raised the bar even higher with CopyPortfolios product which allowed traders to copy the entire portfolios of the best traders and let the portfolio trade for them. eToro has offices, offers services, and is regulated in the United Kingdom, European Union, United States of America, and Australia. All financial transactions are encrypted with SSL technology. Traders’ funds are treated in compliance with CySEC regulations and kept in segregated accounts.
Broker Offerings
Bonuses and Promotions
- Zero Commission on Stock Longs: eToro doesn’t apply markups, ticketing, or management fees when day trading non-leveraged Buy positions in stocks.
- eToro Club: The 5-tier elite membership of eToro offers personalised account management, reduced fees, access to exclusive analysis and signal services, eToro debit card, and invitation to special events by the company.
Asset Range
Asset Types for Etoro |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Trading Platform Review
Mobile trading App
Trading platforms are among eToro’s strongest suits. Aside from regular features, eToro’s platforms includes their innovative Social Trading features, sentiment analysis tools, and market research feeds. eToro mobile trading platform allows us to enjoy the desktop experience on mobile with an intuitive user interface and CryptoPortfolios. However, eToro mobile app have very limited drawing and analysis options.
Deposit/Withdrawal Options
Credit and Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, Klarna/Sofort, Wire Transfer, Online Banking, UnionPay
Customer Service
eToro classifies clients as Retail or Professional. Each class is further divided into tiers with slightly different trading conditions. Help Centre outlines the FAQ in detail and contains customer support features such as phone and chat. Non-registered visitors can use the Ticket system to contact eToro. However, eToro states that their average response time is 7 days. Education is a serious area of eToro. They have complete written and video guides for Fintech industry, Forex trading, and Social Trading. They also publish podcasts by eToro seniors who host industry experts to discuss the markets.
Forex Trading platform UK #3 – Admiral Markets: Licensed partner of DAX
Admiral Markets is celebrating their 19th year in the Forex markets with a licensed DAX partnership Zero Commission trading on US stocks. Unlike the previous two, Admiral Markets more focused on trader education and have an incredibly rich selection of training materials. They are regulated by FCA in the UK, and by CySEC (EU) and ASIC (Australia). Client funds are kept in segregated accounts, and legally protected against broker or bank insolvency with Financial Services Compensation Scheme (FSCS) and Deposit Guarantee Schemes (DGS).
Broker Offerings
Bonuses and Promotions
- Zero Commission US Stocks: Over 2000 American stock CFDs are traded with no commission, up to 5:1 leverage, and dividend earnings on Long positions.
- Lowest DAX Index spreads: With direct partnerships, DAX index CFD can be traded around the clock, with no commission and 0.8 pips spread.
- Islamic Account: Interest-free account with unchanged trading conditions.
Asset Range
Asset Types for Admiral Markets |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Trading Platform Review
Mobile trading App
Admiral Markets offers famous MetaTrader 4 and MetaTrader 5 desktop and mobile trading platforms. MT4 and MT5 are reputable trading platforms, which all traders are familiar with, and incorporate a wide range of technical analysis tools. Aside from the built-in indicators and expert advisors, uploading custom technical indicators and integrating automated trading systems is also available.
Deposit/Withdrawal Options
Credit and Debit Cards, Bank Transfer, Klarna, Skrill, and Neteller
Customer Service
Admiral Markets traders are classified either as Retail or Professional, each with its own benefits. Retail clients enjoy negative balance protection, while Professional clients have higher leverage. Eligible Retail clients can also apply to become Professional if they satisfy the Admiral Markets Pro conditions. Customer support is provided via support form, e-mail or phone. There is also an FAQ section for commonly asked questions. During our examination, we did not see a Chat feature for easy communication. Trader education programs include a large library of articles, tutorials, books and videos. They also conduct webinars on topics ranging from day trading basics to interviews with professional traders.
Forex Trading platform UK #4 – XM : Starting from zero spreads
XM is well-known for spreading their trader-centric approach to the Forex industry. They continuously arrange meetings with trader groups in different locations in the world, and XM management visited more than 120 countries to meet traders in-person. Their efforts were recognised by UK Investors in People organisation. XM group is regulated by CySEC and ASIC, and they are FCA-registered to operate in the UK. Banking activities are conducted with Barclays, and client funds are held in segregated bank accounts. Furthermore, XM is a member of Investor Compensation Fund to protect client funds in case of insolvency.
Broker Offerings
Bonus and Promotions
- Welcome Bonus: Up to $5,000 and eligibility to enter XM Loyalty Program
- Loyalty Program: Automatically earning XM points through trading to earn exclusive seasonal bonuses
- Zero Account: Professional trading account with spreads as low as 0, and leverage up to 888:1
Asset Range
Asset Types for XM |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Others : Equity, Energies, Shares |
Trading Platform Review
Mobile trading App
XM takes full advantage of MetaTrader platforms by offering MT4 and MT5 for desktop as well as iOS and Android mobile devices. The platforms can be downloaded directly from XM website.
Deposit/Withdrawal Options
Credit and Debit Cards, e-Wallets, and local or global bank wire transfers.
Customer Service
With more than 2.5 million traders around the world, XM is known for its excellent and award-winning customer service. XM clients can contact the customer support team easily via live chat, phone, or e-mail. The customer support team offers 24/5 services in 25 languages. XM has a comprehensive research and education centre which offers a wide range of quality materials: market news & ideas, technical analysis by XM experts and summarised price trends, and live webinars.
Forex Trading platform UK #5 – Forex.com: Choose your own trading conditions
Forex.com is operating since 2001, and is a brand of GAIN Capital, a NYSE-traded online trading services provider based in the U.S. The strong foundations translate into high-level of price transparency and execution consistency. Forex.com traders can choose to trade with traditional spreads, or tight spreads and commissions, or direct market access. The company is regulated by FCA in the UK, and client funds are kept in segregated client accounts in top-tier banks, ensured by obligations of GAIN capital.
Broker Offerings
Bonus and Promotions
- Direct Market Access: DMA account holders can trade with deep liquidity and rebates.
- Tight Spreads: Gold trading starts from $0.11 spread in DMA account
- Active Trader VIP Program: up to 15% rebate, 1-on-1 Market Strategist support, reimbursement on bank wire transfer costs
Asset Range
Asset Types for Forex.com |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
Trading Platform Review
Mobile trading App
Forex.com has its own proprietary trading platform which can be used on desktop, browser or mobile devices. Forex.com mobile trading app incorporates all features of desktop platform and gives access to TradingView charting and analysis tools like overlaying multiple asset charts. MetaTrader 5 for desktop and mobile are also available.
Deposit/Withdrawal Options
Credit and Debit Cards, Wire Transfer
Customer Service
The customer service team offers support 24/6 via e-mail and live chat features. An FAQ section is also available with comprehensive information like service updates and trading hours. VIP Active Trader program members can benefit from 1-on-1 training with a licensed Market Strategist. Forex.com also offers beginner, intermediate, and advanced level Trading Courses; guides on Forex themes like risk management; training tools like live webinars and video library.
Forex Trading platform UK #6 – CMC Markets: Over 9,000 Stock CFDs
With 3 decades of experience, CMC Markets won numerous awards for service, technology and innovation. They offer more than 9,000 financial assets only in Stocks & ETFs category with lightning-speed order executions. CMC Markets is regulated by FCA in the UK and secure traders’ funds by holding them in separate bank accounts than company funds. CMC is also a member of Financial Services Compensation Scheme (FSCS) to protect clients against insolvency.
Broker Offerings
Bonus and Promotions
- CFD Rebates: Professional traders in CMC can earn rebates based on trading volume.
- Guaranteed Stop Loss Order (GSLO): GSLOs can be placed with a small premium.
- Tight Spreads: Regardless of volatility, EUR/USD starts from 0.7 pips, key indices from 1 point, and Gold from 0.3 points.
Asset Range
Asset Types for CMC Markets |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
💵 Bonds |
Trading Platform Review
Mobile trading App
CMC Markets’ own trading platform, Next Generation, is accessible from desktop and iOS or Android mobile devices. With Standard or Advanced viewing options, traders can see the markets in detail with comprehensive mobile charts and benefit from unique tools like mobile alerts, mobile analysis tools, Reuters news and analyst insights.
Deposit/Withdrawal Options
Credit and Debit Cards, Wire Transfers.
Customer Service
CMC Markets traders are classified as Retail or Professional clients, in compliance with MiFID II. Retail clients benefit stronger protection, while Professional clients can take advantage of flexible trading conditions. Clients Services team in CMC offers 24-hour support, and every client has a dedicated account manager. CMC’s services include morning updates and weekly market analysis, guides on CFD trading and spread betting, and video library.
Forex Trading platform UK #7 – IC Markets: Raw spreads from 0.0 pips
IC Markets is an Australian broker with over 60,000 traders, and the world’s largest FX CFD broker by Forex volume according to 2019 Intelligence Report by Finance Magnates. The company is mainly regulated by ASIC in Australia but doesn’t have FCA license in the UK.
Broker Offerings
Bonus and Promotions
- Raw Spreads: Spreads really go as low as 0.0 and kept tight with proprietary liquidity
- Advanced Strategies: High volume trading, scalping, and trading robots are permitted
Asset Range
Asset Types for IC Markets |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
💵 Bonds, Futures |
Trading Platform Review
Mobile trading App
IC Markets take full advantage of MetaTrader 4, MetaTrader 5, and cTrader trading platforms for desktop and mobile. Using an iOS or an Android device, traders can monitor the live prices of the assets offered by IC markets, conduct technical analysis and manage their positions on the go.
Deposit/Withdrawal Options
Credit and Debit Cards, Wire Transfer, Skrill, Neteller
Customer Service
Within MiFID II framework, clients are classified as either Retail traders, with more protection but stricter trading conditions, or Professional traders, with less protection but flexible day trading conditions. IC Markets’ Help Centre contains FAQ as well as Forex calculators and Economic Calendar. The support team can be contacted via e-mail, live chat, or call-back request. Aside from a demo account, IC Markets also offers a comprehensive education section with Getting Started courses, video tutorials, and Web TV for live analysis.
Forex Trading platform UK #8 – XTB : Globally regulated
In over 15 years of experience, XTB won numerous awards for excellent service. Their offices are spread in more than 10 countries in Europe, and the company is publicly traded in the Warsaw Stock Exchange since 2016. XTB is regulated by CySEC in the EU and FCA in the UK. Financial Services Compensation Scheme (FSCS) with up to £85,000 protection against broker insolvency is also available.
Broker Offerings
Bonus and Promotions
XTB does not offer any bonus or promotions.
Asset Range
Asset Types for XTB |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Trading Platform Review
Mobile trading App
XTB traders can use either the company’s own platform, xStation Mobile or MT4. The mobile trading app of XTB brings together more than 1,500 CFDs, built-in risk management tools, horizontal chart viewing, and access to market sentiments.
Deposit/Withdrawal Options
Credit and Debit Cards, Wire Transfers, PayPal, Skrill.
Customer Service
XTB Customer Support team provides services 24/5 via live chat, e-mail, or phone. Clients who reside in a location where an XTB office exists can also visit the local premises. XTB complies with MiFID II regulation, meaning the traders are classified as Retail or Professional. Retail clients who satisfy Professional class criteria can also be recategorized. XTB Trading Academy contains guides on how to use xStation and MT4 trading platforms as well as introductory materials for Forex, CFD trading, and fundamental analysis.
Forex Trading platform UK #9 – Plus500: Main Sponsor of Atletico Madrid
Plus500’s reputation expanded beyond financial markets when they became the main sponsor of Atletico de Madrid football club. As the #1 UK Broker by total number of relationships with UK CFD traders*, they are publicly traded in the London Stock Exchange and a constituent of FTSE 250 index. Plus500UK Ltd is authorized & regulated by the FCA (#509909). and holds the funds of 200,000+ active traders in segregated bank accounts, separating them from company funds.
*Investment Trends 2019 UK Leverage Trading Report.
Broker Offerings
Features
- Guaranteed Stop Loss Order (GSLO): Plus500 offers GSLOs at a slightly higher spread.
- Alerts: Traders can receive custom price alerts via e-mail, SMS, and push notifications in real time for free.
Asset Range
Asset Types for Plus500 |
💱 CFD on Currency Pairs |
🛢️ CFD on Commodities |
📈 CFD on Indices |
📊 CFD on Stocks |
₿ CFD on Cryptocurrencies |
📉 CFD on ETFs |
Trading Platform Review
Mobile trading App
Plus500 trading platform features an intuitive interface, live chat with support, and quick switch between Demo and Real accounts. It can be used on desktop and web browsers as well as iOS, Android, and Windows Phone mobile devices. MetaTrader or other independent platforms are not available.
Deposit/Withdrawal Options
Credit and Debit Cards, Wire Transfer, PayPal, Skrill, iDeal, BPay, Klarna, giropay, Trustly, Przelewy, MultiBanco, MyBank
Customer Service
Plus500 customer support team offer 24/7 email, chat, and WhatsApp support in 16 languages. We did not find any phone or live chat information on their website. As a MiFID II-compliant broker, traders are classified as Retail or Professional. Negative balance protection and FSCS are offered in both account types, but Professional accounts have higher leverage options. The education materials of the company are severely limited as they cover either very basic or very advanced topics.
Disclaimer : 80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Though Plus500 is a very user-friendly platform, CFDs are “complex financial products”, thus the platform is not suitable for beginners/ un-experienced traders.
Forex Trading platform UK #10 – FBS: Official Trading Partner of FC Barcelona
FBS offers a wide range of bonuses and promotions, making it quite attractive to join. However, they do not hold an FCA license and do not accept customers residing in the UK. They regularly organise events and seminars and have over 14 million traders and 370,000 partners around the world.
Broker Offerings
Bonus and Promotions
- 100% Deposit Bonus: Unlimited, credited upon request
- Trade 100 Bonus: Real $100 funds without deposit to start trading.
- Cashback: 15 USD rebate per lot
- 3000:1 Leverage: Available for Standard and Zero Spread accounts
- Loyalty Program: Earn points by trading and exchange for gifts
Asset Range
Asset Types for FBS |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
Trading Platform Review
Mobile trading App
FBS Trader desktop and mobile is similar to MetaTrader 4 platforms, containing all the advanced features but presenting them in a simplified fashion. Account transactions can be done directly on the mobile platform.
Deposit/Withdrawal Options
Credit and Debit Cards, Neteller, Stic Pay, Skrill, Perfect Money, bitwallet, Local exchanges
Customer Service
FBS traders can reach the customer support team by live chat and e-mail or submit a call back request through the website. FBS is not compliant with MiFID II, allowing them to offer a wide range of account types with leverage up to 3000:1. The company regularly publishes market news and analysis, and have a strong education section with a wide range of materials including articles, e-books, videos, and webinars.
Forex Trading platform UK #11 – HotForex: Global markets, international operations, multinational team
Founded in 2010, HotForex is well-known with its extensive international operations in the Forex industry. The HF team travelled to more than 100 countries around the world, making personal contact with traders and industry members. The broker’s rich selection of products and services cater to over 2 million live accounts of individual and institutional traders. HotForex is the first broker in the FX industry to sponsor another online realm: Santos FC e-Sports team.
HotForex is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and also has licenses in Cyprus, Dubai, South Africa, and Seychelles. Clients funds are held in segregated accounts in leading banking institutions and protected with a Civil Liability insurance program against insolvency.
Broker Offerings
Bonuses and Promotions
- 10th Year Anniversary: HotForex celebrates its 10th year in the industry with trading prizes with a total cash pool of $2,000,000 which you can earn as you trade and withdraw to your account.
- Loyalty Program: As you accumulate active trading days, your loyalty level progresses in Red, Silver, Gold, and Platinum levels. In each level, you earn HotForex Bars based on your trading volume, which you can exchange for various prizes including cash, private training sessions, and AutoChartist subscriptions.
- 100% Supercharged Bonus: When you start with minimum $250 initial deposit, your withdrawable cash rebates are activated automatically and earn you 2 USD per trading volume, up to $8,000.
- 100% Credit Bonus: Increases your leverage with bonus that can be withdrawn once the volume requirements, which has great flexibility in time limitations.
- Contests: HotForex regularly holds contests with special prizes ranging from electronic gadgets and cash prizes to vacation trips and tickets to exclusive events.
Asset Range
Asset Types for HotForex |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
Other : Bonds |
Trading Platform Review
Mobile App
HotForex employs the power of the world’s most popular day trading platforms: MetaTrader 4 and MetaTrader 5 for desktop, mobile and web browsers. Furthermore, they have a proprietary HF mobile app which enables you to trade the markets, access latest information, and manage your account directly from your phone.
Deposit/Withdrawal Options
Wire transfer, Visa, Visa Electron, Maestro, MasterCard, UnionPay, Local bank deposit, Web Money, Skrill, Neteller, VLoad, Fasapay, Perfect Money, Bitcoin, Bitcoin Cash, Litecoin, Ripple
Customer Service
HotForex offers six different account types with varying leverage up to 1:1000 and competitive trading conditions. In the Euro Zone, the clients are categorised as Retail and Professional as per the MiFID II regulation. A wide selection of trading tools like FXStreet news and analysis, AutoChartist, Automated Trading Systems, and VPS services are also available. The company has an extensive education section with an e-course to start learning Forex trading from beginning and gain expertise step-by-step. Video libraries, webinars, and events schedule are also available. HotForex customer support team is available 24/5 to offer support in over 27 languages via phone, live chat, and e-mails.
Forex Trading platform UK #12 – Pepperstone: Consistent, reliable, and transparent
Pepperstone is an Australian broker established in 2010 by a team of professional traders who aimed to address the main issues in the industry by offering high speed execution and low spreads. Its award-winning personalised customer service attracted over 57,000 active clients worldwide who enjoy Forex and CFD trading as well as spread betting in more than 150 instruments.
The company has won many awards from reputable organisations including Victoria State Government in Australia, Deloitte, and the UK Forex Awards. Aside from its hometown regulation by ASIC, Pepperstone is licensed by the FCA in the United Kingdom.
Broker Offerings
Bonuses and Promotions
- Razor Account: a special account for scalpers and algorithmic traders with spreads starting from 0.0 pips and trading volume rebates.
- Active Trader program: Razor Account rebate program which offers cash rebates on your trades in Forex currency pairs. Rebates are credited directly to the trading account on a daily basis and can be used for trading immediately.
Asset Range
Asset Types for Pepperstone |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
Trading Platform Review
Mobile App
Pepperstone offers three trading platforms to cater all trading styles: cTrader, MetaTrader 4 and MetaTrader 5. All platforms are accessible from desktop, web browsers, and mobile devices. Moreover, Pepperstone traders can use the MetaTrader Trading Signals platform – the social trading platform of MetaTrader itself.
Deposit/Withdrawal Options
Visa, MasterCard, POLI, Bank transfer, BPay, PayPal, Neteller, Skrill, Union Pay.
Customer Service
In compliance with MiFID II regulations, Pepperstone U.K. clients are classified into Retail or Professional accounts. Retail clients enjoy a higher degree of protection with negative balance protection and lower spreads, while Professional clients can enjoy higher leverage as well as rebates through the Active Trader program. Traders can enjoy Smart Trader Tools package in MT4 and MT5 platforms as well as API trading and VPS hosting services. Automated analysis via AutoChartist and automated trading via cTrader are also available. The comprehensive education section of Pepperstone includes a wide range beginner, intermediate, and advanced levels of Forex and CFD trading courses, complemented with webinars and analysis sections. Pepperstone customer service team offers multilingual support via chat, e-mail, and phone 24 hours a day, 5 days a week.
Forex Trading platform UK #13 – InstaForex: Sponsoring the champions
In 2007, InstaForex was established by the InstaTrade Corporation. It offers over 200 instruments to more than 7 million traders around the globe. With a strong presence in the sports industry, InstaForex sponsors numerous champions from Olympic athletes and tennis players to chess masters and racing teams. InstaForex is also a regional partner of the German football club Borussia Dortmund.
InstaForex is licensed in the U.K. by the Financial Conduct Authority and regulated in more than 25 countries including CySEC in the E.U. and Central Bank of Ireland. The company is a member of the Investor Compensation Fund (ICF) to protect clients funds, held in segregated accounts, in case it fails to exercise its financial obligations to its clients.
Broker Offerings
Bonuses and Promotions
- Chancy Deposit: InstaForex clients have the chance to win monthly prizes once they register for a live account and deposit minimum $3,000. A random amount of prize is rewarded to a randomly selected trading account at the end of each trading month.
- InstaForex Club Bonus: As a you enjoy your InstaForex Club Card, you can also apply for club bonus. The bonus percentage depends on the total funds deposited; the higher the amount, the higher the bonus you will receive.
Asset Range
Asset Types for InstaForex |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 Futures |
Trading Platform Review
Mobile App
InstaForex traders enjoy the full package of MetaTrader 4 trading platform. It features a wide range of assets, price charts, advanced technical analysis tools as well as automated trading systems and the ability to create custom indicators with MQL4. InstaForex MT4 is available on desktop, mobile devices, and web browsers.
Deposit/Withdrawal Options
Visa, MasterCard, Bank Wire, Skrill, Neteller, Sofort, Bitcoin
Customer Service
InstaForex clients in the U.K. and the E.U. are subject to MiFID II regulation, which categorises traders as Retail or Professional depending on their experience and provide different leverage ratios. They have various account types including zero spread, ECN, and Scalping accounts. Market analysis is one of the best suits of InstaForex; they have more than 30 analysts who prepare technical and fundamental analysis reports, attend InstaForex TV channel, and offer exclusive training sessions. Furthermore, InstaForex has a dedicated education section for beginner traders to get started with guides, video tutorials, and webinars. InstaForex customer support team is available 5/24 via phone, e-mail, live chat, and callback requests as well as WhatsApp, Skype, Viber, Telegram, and Facebook Messenger.
Forex Trading platform UK #14 – ActivTrades: Lightning speed execution
Established in 2001, ActivTrades is a Swiss broker headquartered in London and has offices in Italy, Bulgaria, and Bahamas. The company offers Forex and CFD trading as well as spread betting in over 500 instruments to a large base of traders in more than 140 countries. ActivTrades has one of the best execution rates in the industry with 0.004 average execution speed facilitated by a strong infrastructure using IBM Cloud.
As the main office of ActivTrades is in London, the broker is licensed and regulated by the FCA. Negative balance protection is provided to all clients regardless of their categorisation. Client funds are held in segregated accounts and secured with a separate insurance protection up to $1 million per client.
Broker Offerings
Bonuses and Promotions
- Cashback Programme: ActivTrades clients who traded over $50 million volume can request to join the cashback program and start receiving 20% reduction on all fees for each lot traded.
- Interest on Free Margin: On a yearly basis, ActivTrades calculate the monthly average of unused margin balances up to $1 million and pays interest for your free margin.
- Refer a Friend: Earn up to $1,000 by referring your family and friends to ActivTrades platform and helping them to satisfy the minimum requirements to be considered as an active trader.
Asset Range
Asset Types for ActivTrades |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 Options |
Trading Platform Review
Mobile App
ActivTrades’ proprietary trading platform ActivTrader is available as desktop software, mobile trading app, and web browser platform. Along with built-in price charts and technical indicators, it contains advanced trading tools such as progressive trailing stop, hedging setup, and market sentiment analysis in a simplified user interface. MetaTrader 4 and MetaTrader 5 trading platforms are also available for traders who prefer their traditional ways of trading.
Deposit/Withdrawal Options
MasterCard, Maestro, Bank Transfer, Visa, Neteller, Skrill, SOFORT Banking
Customer Service
ActivTrades categorises the U.K. clients as Retail or Professional in compliance to MiFID II regulation. Negative balance protection is default for all clients, while there are leverage ratio differences in each account type. ActivTrades developed a wide range of Smart Trading Tools to assist their traders in aspects including but not limited to position execution, risk management, and market analysis. Their experts offer 1-on-1 training, and a selection of educational videos, manuals, and webinars can be found on the website. ActivTrades support team has won numerous awards in the industry with their 24-hour service via live chat, phone, and e-mail.
Forex Trading platform UK #15 – DeltaStock: All levels of financial investments
Launched in 1998, DeltaStock became the first CFD broker in Bulgaria in 2000 and the first broker with a proprietary trading platform in 2004. It offers more than 1,000 assets in CFD trading as well as Cash CFD investments without leverage. From 2015, the DeltaStock group established a wide range of financial services including asset management, investment accounts, funds, and insurance brokerage.
DeltaStock is registered in the U.K. with the FCA license and regulated in more than 10 countries. It operates in the European Economic Area (EEA) under MiFID II regulation. In compliance with regulations, client funds and assets are segregated from the company’s accounts and protected by the Investor Compensation Fund (ICF).
Broker Offerings
Bonuses and Promotions
DeltaStock does not offer any bonuses or promotions.
Asset Range
Asset Types for DeltaStock |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Other : Futures |
Trading Platform Review
Mobile App
As the first broker to develop a proprietary trading platform, DeltaStock has years of experience in satisfying the traders with Delta Trading platform. It can be used on desktop, web browsers, and mobile devices to trade 80 financial asset CFDs with a wide range of trading tools and technical indicators. MetaTrader 4 platforms are also available.
Deposit/Withdrawal Options
Visa, MasterCard, Maestro, Bank Wire Transfer, ePay
Customer Service
DeltaStock operates in compliance with MiFID II and classifies clients as either Retail or Professional, which has different levels of leverage and balance protection. The education section is complete with basic and advanced level materials in forms of written guides and video tutorials. DeltaStock has various analysis resources including news feeds, economic calendar, and daily technical analysis. The customer support offers service 24/5 via phone, live chat, e-mail, and TeamViewer.
Forex Trading platform UK #16 – FxPro: UK based, won 70+ international awards
FxPro was founded in 2006 in the United Kingdom as a Forex trading broker and expanded its product range to over 260 assets. With clients from 173 countries, it won awards more than 70 awards for execution, transparency, and platform, including the Financial Times’ ‘Best Broker’ award from 2015 to 2017. The company is also a sponsor of Premier League clubs like Aston Villa, Watford, and Fulham, and McLaren Formula 1 team.
Since it is based in the U.K., FxPro is subject to rigorous regulation by the Financial Conduct Authority (FCA). FxPro is committed to safeguarding clients by keeping client fund separate from company funds and held by major banks including Barclays and RBS.
Broker Offerings
Bonuses and Promotions
FxPro does not offer any bonuses or promotions.
Asset Range
Asset Types for FxPro |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
📉 Futures |
Trading Platform Review
Mobile App
The trading platform range of FxPro includes the industry standard MetaTrader 4, MetaTrader 5, and cTrader. All platforms offer advanced technical analysis tools as well as automated trading features. They are accessible on desktop, web browsers, and mobile devices. Furthermore, FxPro has a proprietary mobile trading application, FxPro Edge, which enables their clients to access their separate accounts for each aforementioned platform in a single mobile app.
Deposit/Withdrawal Options
Visa, MasterCard, Bank Wire Transfers, PayPal, Neteller, and Skrill.
Customer Service
As per MiFID II regulations, FxPro classifies the clients as Retail or Professional, offering different levels of fund protection and leverage ratios. Their education section contains an extensive catalogue of Youtube videos for beginners, fundamental analysis, technical analysis, and trading psychology. It has a dedicated news and analysis platform with multiple intraday updates, and also offers. The company has demo accounts for anyone who wants to test-drive its product, although it requires creating an account. FxPro customer support team provides help 24/5, accessible through a toll-free phone number which distinguishes it from many brokers.
Forex Trading platform UK #17 – VantageFX : Professional trading tools for UK Retail traders
Vantage Prime is the U.K. brand of Australia-based VantageFX. The parent company was founded in 2009 as MXT Global but rebranded in 2015. With a strong emphasis on accountability and transparency, the company has won numerous awards in the past decade. As an ECN broker, it offers various account types including zero spread account.
Along with Australian Securities and Investments Commission (ASIC) regulation, Vantage Prime is licensed by the FCA license in the U.K. Trader funds are segregated from the company’s funds and are kept by its custodian bank, National Australia Bank. The company also has indemnity insurance as an added layer of protection.
Broker Offerings
Bonuses and Promotions
Vantage Prime does not offer any bonuses or promotions.
Asset Range
Asset Types for VantageFX |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
📉 ETFs |
Trading Platform Review
Mobile App
Vantage Prime has its own unique Java-based platform, Vantage Prime Trader, which is available as a desktop platform and a mobile trading application. They also have a Vantage Prime Trader Pro platform which enables automated trading. For traders who seek classic ways, MetaTrader 4 is also offered.
Deposit/Withdrawal Options
Visa, Visa Debit, Visa Electron, MasterCard, Maestro, Switch, Bank Wire Transfer
Customer Service
Vantage Prime has two different account types which vary in their spread and commission structures. Its education section cannot be considered as comprehensive as other brokers in the list. However, Vantage Prime offers a wide range of trading tools including a currency index, daily highs and lows, movers and shakers of the market, and pivot points. Vantage Prime customer service is available via phone, e-mail and live chat 24 hours a day, 5 days a week.
Forex Trading platform UK #18 – Markets.com: Both UK trading and investments are available
Markets.com was established in 2008 to allow global trading in a variety of major asset classes. Its parent company, Playtech, is a U.K.-based iGaming company which is listed in the London Stock Exchange (LSE) and a component of the FTSE250 index. Markets.com is not regulated by the FCA, instead it’s regulated by the Cyprus Securities and Exchange Commission. As per regulations, clients’ funds are held separately from the company capital in segregated accounts.
Broker Offerings
Bonuses and Promotions
Markets.com does not offer any bonuses or promotions.
Asset Range
Asset Types for Markets.com |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Others : Bonds, blends, share investments |
Trading Platform Review
Mobile App
Marketsx trading platform emerges as a one-stop-shop to trade a wide range of financial instruments via desktop or mobile. It is rich with technical and sentimental analysis tools as well as expert analysis. MetaTrader 4 and MetaTrader 5 are also available.
Deposit/Withdrawal Options
Visa, MasterCard
Customer Service
As a CySEC-regulated broker, Markets.com categorises its clients into Retail and Professional levels. Retail clients are awarded with higher levels of fund security with negative balance protection, though their leverage ratio is lower. Professional clients can enjoy higher leverage, choose flexible trading conditions, and receive assistance from a personal account manager. The Knowledge Centre of the company includes a news, analysis, and webinars sections as well as XRay feature which enables the traders to tailor a personalised live stream of market commentary by the analysts they choose. Markets.com customer service offers round-the-clock support 5 days a week via phone and live chat.
Forex Trading platform UK #19 – City Index: Backed by a public company listed in the NYSE
City Index is a global forex and CFD broker which was founded in 1983. The company was bought by Gain Capital in 2014. As a publicly traded company listed in the New York Stock Exchange (NYSE), backing by Gain Capital provides a great level of reliability and integrity. City Index is headquartered in London and offers Forex and CFD trading as well as spread betting in over 12,000 instruments.
With headquarters in London, City Index is regulated by the FCA to operate in the United Kingdom. As per regulation rules, your funds are kept in segregated accounts and protected with the Financial Services Compensation Scheme (FSCS) in an event of company liquidation.
Broker Offerings
Bonuses and Promotions
City Index does not offer any bonuses or promotions.
Asset Range
Asset Types for City Index |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
₿ Cryptocurrencies |
📉 ETFs |
Trading Platform Review
Mobile App
City Index offers a selection of Advantage Trading platforms. AT mobile trading app enables you to access your account and trade in the markets wherever you are, whenever you want. It is also available for desktop with advanced charting and analysis tools, and web browser with HTML5 technology for people who seek quick access and powerful analytical features in a single platform. City Index MT4 is also available for traders who want to take advantage of Expert Advisors and custom indicators.
Deposit/Withdrawal Options
Visa, MasterCard, Bank Transfer, PayPal
Customer Service
City Index services are under MiFID II regulation, thereby Retail and Professional client categorisation rules apply. Professional clients enjoy higher levels of leverage while giving up on negative balance protection and margin close-out. City Index has prepared a comprehensive training section with dedicated courses for beginners and experienced traders. Its Trading Strategies section helps learning advanced topics like fundamental and technical analysis. City Index support team operates from Monday to Friday via phone, e-mail, and live chat.
Forex Trading platform UK #20 – ThinkMarkets: Fast execution, low costs
ThinkMarkets was founded in 2010 and its headquarters are founded in London, U.K. The broker offers over 1200 financial instruments with spreads starting from 0.1 pips. The company has a partnership with the world’s largest data centre, Equinix, in order to ensure fast order execution facilities.
ThinkMarkets is regulated by the Financial Conduct Authority and audited every year. As a member of the Financial Services Compensation Scheme (FSCS) their clients’ funds are protected against insolvency with an insurance up to £85,000.
Broker Offerings
Bonuses and Promotions
ThinkMarkets does not offer any bonuses or promotions.
Asset Range
Asset Types for ThinkMarkets |
💱 Currency Pairs |
🛢️ Commodities |
📈 Indices |
📊 Stocks |
₿ Cryptocurrencies |
📉 ETFs |
Trading Platform Review
Mobile App
ThinkMarkets’ proprietary platform, ThinkTrader, is available for mobile and desktop. The mobile app is more powerful than its competitors and features multiple order closing, and multi-chart display. The platform has beneficial features such as a news feed by FX Wire Pro and automated trend analysis tool Trend Risk scanner. MT4 and MT5 are also available.
Deposit/Withdrawal Options
Visa, MasterCard, Bank Wire, Skrill, Neteller
Customer Service
ThinkMarkets is regulated under MiFID II. Leverage and spreads differ depending on account type and instrument. Standard accounts have no commissions but 0.4 spreads for most instruments. For ThinkZero accounts, spreads are zero in most cases, but commissions are around $7. ThinkMarkets has a selection of tutorials at beginner, intermediate, and advanced levels. They also have a special indicators section with guides on how to use them. Demo accounts can be opened for an unlimited amount of time to test its product and platform. In terms of customer service, representatives are available 24 hours a day, 5 days a week via phone, email or live chat.
What are we looking for in the best UK forex brokers and trading platforms?
There are several qualities we should consider when trying to find the best forex trading platform :
- Access to markets – in the case of forex this means access to a broad range of currency pairs (major, minor, exotic currency pairs), but also access to a broad range of international equities (stocks), international stock indexes, commodities, ETFs, options and potentially cryptocurrencies.
- Regulation and trust – UK brokers and platforms must be FCA (Financial Conduct Authority) regulated and adhere to its requirements and the protections afforded to Retail and Professional investors.
- Fees and spreads – UK brokers and platforms should offer competitive spreads and fees – be they margin payments, overnight fees or other processing fees. Non-activity fees (e.g. no transactions in a given period) and interest on cash deposit should also be considered.
- Platform and integrations – how good is the broker’s proprietary platform? Does it have solid charting, technical analysis tools etc? Is the broker compatible with external trading platforms like Meta Trader (MT4/MT5)?
- Mobile app or mobile first – is the mobile trading experience good? Often web based platforms will have an app that is simply a wrappered version of their existing site. More modern brokers and platforms are “mobile first” (i.e. the main place they intend you to trade from is their mobile app).
- Security – does the broker hold client funds in separate accounts? Does it process payments securely in an encrypted way? Does it have hardened site security with features like 2 factor authentication?
UK FOREX FAQs
Is it important to use an FCA licensed/regulated forex broker or trading platform?
Yes, it is our view that it is essential to only consider FCA licensed and regulated forex brokers or trading platforms of any kind if you are trading from the UK. The FCA mandates various requirements and standards, including MiFID II, which designates clients as “Retail” and “Professional” depending on their financial experience and knowledge, trading history and assets, and affords different levels of protection to each.
How can I learn to trade forex/currencies as a beginner?
If you are a complete forex beginner, we strongly advise learning about the how financial markets (and forex specifically) work before committing any funds to trading. Many UK forex brokers offer practice accounts with set funds for you to practise without committing your own money, and this is a very effective way to learn the mechanics of forex trading in a practical way, but also an important insight into risk management. You should learn first, practice on a demo second, and only then if you feel trading is right for you, try with real funds.
Free trading education websites like Babypips are a good first port of call.
What is the best forex broker or trading platform to use?
We can give our reviews and recommendations of forex brokers, trading apps and platforms, based on features, ease of use, technology and tools, costs and spreads, but ultimately it is a personal choice of what to use. We recommend trying multiple brokers or platforms before “settling” on one.
How can I fund a forex broker or trading platform account?
Most forex brokers and trading platforms have a wide variety of options to fund an account, including wallet payments like Apple Pay and Google Pay, credit or debit card, bank transfer, even crypto in some cases. We recommend recording each transaction reference number to when funding an account to ensure funds are credited properly, particularly when a credit or debit card is not used.
How do I recognise a forex/trading/crypto/investment scam?
The internet and particularly social media is awash with misleading and potentially harmful trading and investment scams promising “get rich quick” returns. It is very important to treat all invitations to participate in any kind of investment with caution and undertake proper research, consulting professional advice if appropriate. Though it is a cliché, it bears repeating: if something seems to good to be true, it probably is. If an investment promises something unrealistic – be that in terms of return on investment, speed of return, or risk, treat it with suspicion.
The FCA ScamSmart is an extremely useful resource that we recommend as a first port of call – it has a number of useful resources in it: you can learn about the types of communication these dodging schemes use, there is specific information for the various financial vehicles used (e.g. crypto, share dealing, options), you can search for Financial Services Register firms, as well as those on the FCA warning list (unauthorised firms).
It’s important to note that Cryptocurrencies are not within the regulatory remit of the UK FCA (Financial Conduct Authority). It is not covered by the UK FSCS (Financial Services Compensation Scheme) and is not within the jurisdiction of the UK Financial Ombudsman Service.
About the Forex Broker
We’re a UK team of journalists and researchers with a passion for day trading and long term investing across many financial instruments. We set up The Forex Broker because we’ve used, loved (and in some cases not loved) most of the brokers and trading platforms available in the UK at one time or another.