UK Investors
6 “Best” UK Forex Brokers (September 2023)
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We have reviewed numerous UK forex brokers, these are the top 6 brokers which have met our quality guidelines and accept residents of the United Kingdom. We recommend the following:
1. eToro
eToro is one of most popular trading platforms in the world with over 20 million registered users. They offer low fees and minimum deposits, combined with a user-friendly platform.
eToro platform gives traders and investors access to more than 3,000 different financial assets, including stocks, cryptocurrencies, ETFs, indices, currencies (forex) and commodities which can be invested in both with and without leverage, giving almost anyone access to short-, mid- and long-term investment options.
Enjoy spreads from as low as 1 pip, and access leverage and diversify with 40+ global currency pairs. They offer unique trading tools such as stop loss, short (without leverage), price alerts, and pro charts.
eToro is authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263, and your funds are protected by industry-leading security protocols.
Read our eToro Review or visit eToro to open your account.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when 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.
2. Fineco
Fineco is an Italian bank founded in 1999 and they have been offering online trading services since 2004. They are also publicly listed in Italy and regulated in the UK by the FCA making them a hugely transparent and trustworthy stock broker. They currently offer service only to UK and Italian traders and you will find very low fees, a great range of assets, and easy to use trading platform.
You can trade a wide variety of assets here including more than 5,000 stocks and ETFs from major exchanges in the US, the UK, and Europe. Mutual funds, bonds, options, futures, and some stock CFDs are also available. Best of all they also offer one of the best regulated forex exchanges in the United Kingdom, and this is why they are our top recommended forex and stock broker.
You will also find both web-based and mobile trading platforms that are very intuitive and user-friendly that, while not being customizable, still provide a positive overall trading experience. The broker also provides an excellent depth of research tools including extensive fundamental data on each asset and trading recommendations.
For more information, you can head directly to Fineco to open your account.
Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
3. XM
XM was founded in 2009 and is a top recommendation for Canadian residents. Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading and they are also our top ranked global forex brokerage. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators.
The broker caters for the needs of the forex market in more than 196 countries. This makes them one of the most global brokers in the industry to all levels of trader. Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM.
Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
4. Pepperstone
Pepperstone makes the list as one of the best forex and CFD brokers thanks to more than 10 years in the industry prioritizing traders through their transparent, good value broker services. Well-regulated by the FCA in the UK, and others around the world, the broker has become a popular choice for many types of traders.
Through their proprietary and easy to use trading platform which is also available on mobile, you can engage in trading CFDs, Spread Betting, and more on all of the assets they have to offer. As a copy trader though they they are powered by Zulutrade enabling you to fully take advantage of copying other traders.
You can also always take a look at our Pepperstone review for an in-depth rundown on everything this top forex broker choice has to offer or visit Pepperstone.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when 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. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
5. FXTM
FXTM was founded in 2011 in Europe. They are currently headquartered in Cyprus but offer services in forex trading and many other assets to traders around the world including all parts of the UK. They are registered with the FCA, ForexTime UK Limited is authorised and regulated by the Financial Conduct Authority with license number 777911.
The FXTM minimum deposit starts from just $10 depending on your account type. This means trading is high accessible through FXTM for all level of trader. Added to this, they are an extremely well-regulated broker with the support of multiple respected bodies including CySEC in Europe, and the FCA in the UK.
This trusted regulation, a competitive range of trading costs, and the availability of more than 250 assets to trade, continue to make FXTM a popular choice for UK residents.
Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
6. AvaTrade
AvaTrade is a top choice for UK residents, While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced UK traders.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
Read our Detailed AvaTrade Review
Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.
What is the FCA?
This stands for: Financial Conduct Authority (FCA).
The Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.
What are the requirements for FCA Brokers?
One of the requirements to be licensed by the FCA is regular submissions of indepent third-party audits, the storage of client funds in major tier banks. The complete segregation of client funds to be separate from operating funds.
Clients need to always be given near immediate access to funds.
Similar to other money authorities around the globe, brokers in the United Kingdom must provide evidence of a complete breakdown of business transactions, auditing and accounting.
How do I recognized a broker as being FCA Regulated?
All forex brokers that are registered with the FCA are identifiable by a valid FCA registration number. The number should always be located on the website, nearly always near the bottom of the page in the footer section.
Can I contact customer support?
We recommend forex broker in UK that offer 24/7 or 24/5 support to all of the United Kingdom. In most cases you may phone, email, or use live chat.
