Best Forex Brokers in UK 2020

Looking for the best UK forex broker for 2020? You are in the right place! There are a large variety of Forex brokers available to today’s UK Forex trader. Forex trading is always evolving with new FX brokers emerging all the time, making it difficult for both the UK and global forex trader to stay up to date. The 6 best forex brokers in UK in 2020 are:

  1. AvaTrade Forex Broker
  2. Plus500 Forex Broker
  3. easyMarkets Forex Broker
  4. Pepperstone Forex Broker
  5. FP Markets Forex Broker
  6. eToro Forex Broker

However, the best Forex broker for one trader may not be the best broker for another. It depends on your trading style, what you want to trade and your support needs. Some Forex broker offerings are general, whilst some aspects might appeal to a trader’s individual style and needs.

Choose a Forex Broker

Forex broker regulation, however, is very important for any trader when choosing a broker, since one of the key features in the choice of broker is how safe your investment will be. The best forex brokers in the UK are generally regulated in different countries, by different regulators. Read this article for a definition of the different European Financial Regulators.

On this page we review various forex brokers based on regulation, usability, platforms, minimum deposit, spreads, customer support and 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 from a number of different countries.

BrokerProsFeatures 

71% of retail investor accounts lose money

Founded: 2006 Reg: Central...
HQ: Ireland...
4.9/5
97/100

- 40% New Member Bonus.
- Free Online Trading Coach.
- Official Sponsor of Manchester City.
- 24/7 Cryptocurrency Trading.
- A lot of educational material.

Min. Deposit: $100
Pairs Offered: 45+
Leverage: EU - Up to 30:1, Professional Client/ROW up to 400:1
Withdrawal Process Time: 1-2 business days.
Trust Score: 97/100
Sign Up

71% of retail investor accounts lose money

76.4% of retail CFD accounts lose money.

Founded: 2008 Reg: Plus500...
HQ: Israel...
4.8/5
95/100

- Advanced risk management tools
- 24/7 online support.
- 2000+ instruments.
- 30+ languages.
- All devices.
- 0 commissions.
- Tight spreads.

Min. Deposit: $100
Pairs Offered: 70+
Leverage: 1:30
Withdrawal Process Time: 1-3 Business Days
Trust Score: 95/100
Sign Up

76.4% of retail CFD accounts lose money.

73% of retail investor accounts lose money

Founded: 2001 Reg: ASIC, C...
HQ: Cyprus...
4.7/5
93/100

- 24/5 Shares Trading
- 0% Commission
- 300 plus trading instruments.
- Deal cancellation feature.
- Fixed spreads.

Min. Deposit: $100
Pairs Offered: 200+
Leverage: Up to 1:30
Withdrawal Process Time: 1 day
Trust Score: 93/100
Sign Up

73% of retail investor accounts lose money

76,5% of retail investor accounts lose money

Founded: 2010 Reg: ASIC, F...
HQ: Austral...
4.6/5
92/100

- Well regulated by FCA and ASIC
- Well established and large broker
- Offers Education

Min. Deposit: $200
Pairs Offered: 170
Leverage: 1:500
Withdrawal Process Time: 12-24 hours
Trust Score: 92/100
Sign Up CFDs are...
Your capital is at risk
Founded: 2005 Reg: ASIC, C...
HQ: Austral...
4.6/5
91/100

- ASIC & CySEC regulations
- Trade on consistently tighter spreads from 0.0 pips
- Ultra-fast execution under 40 milliseconds^
- Top-tier liquidity and market leading ECN pricing 24/7
- No dealing desk and no requotes, ever

Min. Deposit: £100
Pairs Offered: 60+
Leverage: Up to 1:500
Withdrawal Process Time: 1 business day
Trust Score: 91/100

62% of retail investor accounts lose money.

Founded: 2007 Reg: FCA, Cy...
HQ: UK, Cyp...
4.5/5
90/100

- Fast withdrawal
- Real Cryptos, Stocks
- 2000+ assets
- Copytrading
- Social Trading
- PayPal deposits possible
- One Stop Shop

Min. Deposit: $200. $50 in AUS
Pairs Offered: 47
Leverage: 1:30, ASIC 1:400
Withdrawal Process Time: Max 2 working days
Trust Score: 90/100
Sign Up

62% of retail CFD accounts lose money.

54.6% of retail investor accounts lose money

Founded: 2011 Reg: MFSA...
HQ: Malta...
4.5/5
90/100

- More than 70 assets available for trading
- Licensed and Regulated by the MFSA under the MIFID directive
- Leverage up to 1:100 for professional traders
- Negative balance protection

Min. Deposit: $250
Pairs Offered: 70+
Leverage: 1:50
Withdrawal Process Time: 1-3 days
Trust Score: 90/100
Sign Up

54.6% of retail investor accounts lose money

Your capital is at risk
Founded: 2009 Reg: ASIC, C...
HQ: Sydney ...
4.5/5
90/100

- 180+ Tradable Instruments
- Up to 500:1 Leverage
- $200 minimum deposits
- 15 Trading Platforms
- 50 US Share CFDs and 50 Hong Kong Share CFDs available to trade from MT4/MT5

Min. Deposit: $200
Pairs Offered: 180+
Leverage: Up to 500:1
Withdrawal Process Time: Within 1-2 Business Days
Trust Score: 90/100
Your capital is at risk
Founded: 2004 Reg: CIMA (C...
HQ: Cayman ...
4.5/5
89/100

- Very low EURUSD spread
- Quick Withdrawal Process Times
- Live chart support

Min. Deposit: $100
Pairs Offered: 60
Leverage: 1:400
Withdrawal Process Time: 24-48 HRS
Trust Score: 89/100

77% of retail investor accounts lose money

Founded: 2002 Reg: FCA, Cy...
HQ: London...
4.5/5
89/100

- 24/5 Customer Support
- Negative Balance Protection
- More than 1500 instruments
- Cryptocurrency trading is available

Min. Deposit: $250
Pairs Offered: 49
Leverage: 500:1
Withdrawal Process Time: 24-48 hours
Trust Score: 89/100
Sign Up

77% of retail investor accounts lose money

Your capital is at risk
Founded: 2013 Reg: FSCA...
HQ: South A...
4.4/5
88/100

- CopyKat copy trading is available
- Good Educational Tools
- Cryptocurrency trading is available

Min. Deposit: $250
Pairs Offered: 40+
Leverage: 1:200
Withdrawal Process Time: 24 hours
Trust Score: 88/100
Your capital is at risk
Founded: 2011 Reg: CySEC...
HQ: Cyprus...
4.4/5
88/100

- 50% bonus with every deposit!
- Some of the lowest spreads in the industry
- No commissions or swaps
- Ultra-fast trades execution
- Instant deposits and fast withdrawals

Min. Deposit: $5
Pairs Offered: 48
Leverage: Up to 1:500
Withdrawal Process Time: Within 24 hours
Trust Score: 88/100
Your capital is at risk
Founded: 2016 Reg: CIMA, C...
HQ: Cyprus...
4.4/5
87/100

- Official Global Partner for Sevilla FC
- Free Educational Services
- Award Winning Broker

Min. Deposit: $250
Pairs Offered: All
Leverage: 1:500
Withdrawal Process Time: 12h
Trust Score: 87/100

83% of retail investor accounts lose money

Founded: 2015 Reg: CySEC...
HQ: Cyprus...
4.4/5
87/100

- CySEC regulated
- Well Established
- Own Platform

Min. Deposit: €100
Pairs Offered: Popular currency pairs and Bitcoin CFD
Leverage: From 1:2 to 1:600
Withdrawal Process Time: Up to 5 days
Trust Score: 87/100
Sign Up

83% of retail investor accounts lose money

83,29% of retail investor accounts lose money

Founded: 2009 Reg: CySEC...
HQ: Cyprus...
4.4/5
87/100

- Wide selection of asset classes
- Trading incentives
- Effective platform

Min. Deposit: $100
Pairs Offered: 45+
Leverage: 1:400

Trust Score: 87/100
Sign Up

83,29% of retail investor accounts lose money

Your capital is at risk
Founded: 2008 Reg: VFSC, C...
HQ: Cyprus...
4.3/5
86/100

- Lowest spread from 0.1.
- Cryptocurrency trading is available
- Investment funds with most profitable and stable global stocks.
- Copy trading is available.

Min. Deposit: $10
Leverage: 1:1000
Withdrawal Process Time: From instant up to 1 working day on online payment systems and up to 5 working days for bank transfers and bank cards
Trust Score: 86/100
Your capital is at risk
Founded: 2010 Reg: FCA, AS...
HQ: Austral...
4.3/5
86/100

- The own trading platform Trade Interceptor.
- Low spreads.
- GBP 1 mln insurance for client’s assets under ThinkMarkets UK entity.

Min. Deposit: $250
Pairs Offered: 39
Leverage: Up to 1:500
Withdrawal Process Time: Standard Bank Times
Trust Score: 86/100

65,6% of retail investor accounts lose money

Founded: 2007 Reg: ASIC, F...
HQ: Austral...
4.3/5
85/100

- ASIC, FCA, DFSA Regulated.
- Trade with more than 80 currency pairs.

Min. Deposit: $0
Pairs Offered: 80+
Leverage: 1:400
Withdrawal Process Time: Varies
Trust Score: 85/100
Sign Up

65,6% of retail investor accounts lose money

81% of retail investor accounts lose money

Founded: 2011 Reg: FCA, Cy...
HQ: Cyprus...
4.3/5
85/100

- Well Regulated.
- PAMM accounts.
- Tight spreads.
- Quick withdrawals.
- Low min. deposit.

Min. Deposit: $5
Leverage: Up to 1:30 for EU (unless pro) / Up to 1:1000 for non EU
Withdrawal Process Time: Same business day
Trust Score: 85/100
Sign Up

81% of retail investor accounts lose money

65% of retail investor accounts lose money

Founded: 1977 Reg: FCA, Cy...
HQ: United ...
4.2/5
84/100

- 40 Years of Experience
- 24/5 Customer Support
- Bonus available(non-EU)

Min. Deposit: $100
Pairs Offered: 300+
Leverage: Up to 1:30 for EU client and 1:200 for the rest of the world
Withdrawal Process Time: Within 24 hours, bank wire up to 5 days
Trust Score: 84/100
Sign Up

65% of retail investor accounts lose money

72,93% of retail investor accounts lose money

Founded: 2016 Reg: CySEC...
HQ: Cyprus...
4.2/5
84/100

- Tight Spreads and Zero Commission.
- Free access to webinars.
- More than 2000 instruments.

Min. Deposit: $100
Leverage: 1:2, 1:5, 1:10, 1:20, 1:30
Withdrawal Process Time: 2 Days
Trust Score: 84/100
Sign Up

72,93% of retail investor accounts lose money

74,93% of retail investor accounts lose.

Founded: 2008 Reg: FCA, AS...
HQ: Cyprus...
4.2/5
84/100

- Beginner Friendly
- Well established
- Leverage up to 1:300

Min. Deposit: $100
Pairs Offered: 2,000+ assets, including forex, indices, commodities, shares and cryptos
Leverage: Up to 1:300
Withdrawal Process Time: 2-8 days
Trust Score: 84/100
Sign Up

74,93% of retail investor accounts lose.

Your capital is at risk
Founded: 2012 Reg: NFA, Cy...
HQ: Cyprus...
4.2/5
83/100

- Raw Spreads from 0.0 pips
- Live Webinars by Professional Traders and Market Analysts
- VIP Trading Alerts by Professional Traders
- Multi-Licenced, Multi-Awarded Broker
- +250 CFDs / World-Leading Platforms

Min. Deposit: $0
Pairs Offered: 300+
Leverage: Up to 1:30 (CySEC), Up to 1:400 (FSC)
Withdrawal Process Time: Within 24h / instant credit card withdrawals
Trust Score: 83/100

69% of retail investor accounts lose money

Founded: 1999 Reg: NFA, CF...
HQ: United ...
4.1/5
82/100

- Trusted Global Market Leader
- Regulated in US, UK and Canada
- Online FX & CFD Trading
- 180+ Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
- Forex, Indices, Commodities, Equities & Bitcoin

Min. Deposit: $100
Pairs Offered: 84+
Leverage: 1:30 UK/EU. 1:500 US

Trust Score: 82/100
Sign Up 69% of r...

71% of retail investor accounts lose money

Founded: 1983 Reg: FCA, MA...
HQ: United ...
4.1/5
82/100

- FCA, MAS & ASIC Regulated
- 12,000+ markets
- 84 unique currency pairs
- 30+ years experience

Min. Deposit: £100
Pairs Offered: 84
Leverage: 1:30

Trust Score: 82/100
Sign Up

71% of retail investor accounts lose money

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 they 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? Any 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 and 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.

In the top list above you will find links to our reviews of the best forex brokers for UK traders. In these reviews we’ve covered most of these ten tips to make your choice of broker as easy as possible.

Please comment below


Your email address will not be published. Required fields are marked *