Forex Brokers in UK 2019
Looking for the best forex broker in UK for 2019? There are a large variety of Forex brokers available to the UK Forex trader of today. Forex trading is also fast evolving with new FX brokers emerging all the time and competition evolving at a rapid pace making it difficult for both the foreign and the UK forex trader to stay on top of things. The best Forex broker for one user may not be the best broker for another. It depends on your trading style, what you want to trade and your support needs. Some aspects are general and apply to all brokers, whilst some are more personal depending on your individual trading style and needs.
Forex broker regulation is however very important for any trader when choosing a broker since it is a matter of how safe your investment will be. The best forex brokers in UK are generally regulated in many different countries by different regulators. Read this article for a definition of the different European Financial Regulators.
In this section we review various forex brokers based on regulation, usability, platforms, minimum deposit, spreads, customer support and many other criteria. Start by browsing our top list of recommended and trust worthy brokers below and continue by reading the individual reviews of each broker on the respective review pages that are linked from the top list. All forex brokers below accept UK traders and also traders with a number of other nationalities.
| Broker | Pros | Trust Score | Features | |
|---|---|---|---|---|
 Your capital is at risk Founded: 2011 Reg: FCA, Cy... HQ: Cyprus... | - Well Regulated. | 96/100 | Min. Deposit: $10 | Read FXTM Review |
 Your capital is at risk Founded: 2011 Reg: CySEC... HQ: St Vinc... | - First Time Deposit Match: 50% Up To Any Max Deposit. | 94/100 | Min Deposit: $5 | Read OctaFX Review |
 Your capital is at risk Founded: 2016 Reg: CySEC... HQ: Cyprus... | - Tight Spreads and Zero Commission. | 94/100 | Leverage: 1:50, 1:100, 1:200 and 1:300 | Read CFD Global Review |
 Your capital is at risk Founded: 2006 Reg: ASIC, M... HQ: Ireland... | - 40% New Member Bonus. | 93/100 | Min. Deposit: $100 | Read AvaTrade Review |
 Your capital is at risk Founded: 2001 Reg: ASIC, C... HQ: Cyprus... | - 300 plus trading instruments. | 93/100 | Pairs Offered: 135+ | Read easyMarkets Review |
 76% of CFD traders lose Founded: 2006 Reg: FCA, Cy... HQ: Cyprus... | - Social trading network. | 93/100 | Min. Deposit: $200 | Read eToro Review Sign Up 76% of r... |
 Your capital is at risk Founded: 2008 Reg: VFSC, C... HQ: Cyprus... | - Lowest spread from 0.1. | 93/100 | - Leverage: 1:1000 | Read NordFX Review |
 80.6% of retail CFD accounts lose money. Founded: 2008 Reg: Plus500... HQ: Israel... | - FCA, ASIC, CySEC Regulated. | 91/100 | Min. Deposit: $100 | Read Plus500 Review Sign Up 80.6% of retail CFD accounts lose money. |
 Your capital is at risk Founded: 2009 Reg: CySEC... HQ: Cyprus... | - Fully regulated | 91/100 | - Min. Deposit: $100 | Read Trade.com Review |
 Your capital is at risk Founded: 2017 Reg: FSA... HQ: Cyprus... | - Quick withdrawals | 91 | - Min. Deposit: $100 | Read Finq Review |
Top 10 Tips for Picking an FX Broker in UK
Here we look at ten different factors that we believe are of significant importance when you consider choosing a Forex Broker, whether you are a beginner or advanced trader. The significance of each will differ depending on your needs, which in turn will depend on your trading style, your knowledge level and your type of trading.
1. Regulation and how safe is my money?
You wouldn’t put a large amount of your savings in a bank account if you did not know that the bank was secure and regulated would you? So similarly why would you deposit with an FX Broker unless you were confident your funds and profits are safe?
In the UK, this would mean looking for a broker that is regulated by the financial conduct authority (FCA). In the USA, the equivalent would be a broker regulated by the National Futures Association (NFA) and/or the Commodity Futures Trading Commission (CFTC).
Opening an account with a broker regulated by any of the of the above should allow for protection if you as a depositor/ trader have an issue or grievance with the broker. Check in the top list above to see which forex brokers are regulated in UK by the FCA.
2. Spreads and/ or Commission
Brokers do not provide their services for nothing, so charge either commission per trade or more likely by the spread between the bid and offer prices. The wider the spread, effectively the more the trader has to pay to get into and out of each trade. So the narrower the spread, effectively the better off for the trader. Sometimes brokers offer fixed spreads, but often the spread will be variable depending on the volatility of the market.
3. Withdrawals and deposits
Most FX Brokers today offer very low requirements to open an account (from as little as £50). Brokers have differing policies with regard to depositing, funding and withdrawals. Are you able to fund the account from a bank account via wire transfer, via credit card, via PayPal? When withdrawing is this done via wire transfer, back to your bank account or credit card? Are there any withdrawal fees? Initial deposit requirements.
4. Rollover interest (credit/ debit)
Some brokers charge a debit (or give a credit) for daily interest. This would be a consideration for any traders thinking of holding open positions over night.
5. Margin and Leverage
Many FX Trading accounts are based on the concept of margin and leverage. Leverage is basically the ability to increase the possible return on an investment or trade. A margin account allows the trader to use leverage by trading larger amounts than deposited in their account. This is because only the potential short term losses on the accounts need to be covered, not the full amount of the underlying asset. How much leverage any forex broker offers and the margin requirements may be a consideration when opening an account with a particular forex broker.
6. Types of forex accounts
There are different types of FX trading accounts which include more traditional cash exchange accounts, spread betting type accounts or CFDs (Contracts for Difference). Here you can find a list of CFD brokers in UK. The choice of which account to open will depend on your very specific needs and potentially even depend on your tax liabilities.
7. What markets can you trade?
All FX brokers in UK offer trading in the major currency pairs, including EURUSD, USDJPY, GBPUSD etc. Most also offer currency cross rates, ability to trade a large selection of currency pairs against each other.
In addition, many brokers offer the opportunity to trade other financial markets and assets. These would include equity indices, government bond markets and commodities (such as oil, gold, copper).
8. Trading platforms supported by the broker
Practically all brokers offer a trading platform, whereby the trader can access the various markets available to trade. Some brokers provide their own developed trading platforms, whilst others suggest downloading free platforms offered by third-party providers. There are many different factors to consider when looking at differing trading platforms including; ease of use, accessibility, trading tools on offer, charting packages, mobile/ tablet access etc.
9. Customer support
Many markets are now open 24 hours a day, five days during the week. So a strong customer support service would be open at all times during this time. Also, the speed of access to a live individual rather than an automated service should certainly be considered. Inevitably, when calling customer service it is usually with an issue, which as a trader you will likely want resolved as soon as possible.
10. Demo account available?
Most, but not all, Forex Brokers offer demo trading accounts to practice on. A demo account allows you to test the trading platform and evaluate some of the above-mentioned factors. All forex brokers for UK in the top list we provide above will offer demo accounts to new traders.