The Best Forex Brokers in the UK for 2021

Are you searching for the best forex brokers in 2021? Your search is over because we traded and tested dozens of providers to bring you the leading fx brokers in the UK for 2021!

5.0 rating
Min. Deposit: 100 EUR
Max. Leverage: 1:30 | 1:200
Regulation: CySEC, ASIC
Trading Platforms: MT4, WebTrader, Mobile App
5.0 rating
Min. Deposit: 50 US$
Max. Leverage: 1:777
Regulation: IFSC
Trading Platforms: MT4, cTrader
5.0 rating
Min. Deposit: 20 US$
Max. Leverage: 1:500
Regulation: SVG FSC, IFSC
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC
Trading Platforms: Libertex WebTrader, MT4
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC
Trading Platforms: MT4
5.0 rating
Min. Deposit: 5 US$
Max. Leverage: 1:1000
Regulation: FSCA, SFSA
Trading Platforms: MT5, WebTrader
5.0 rating
Min. Deposit: 10 US$
Max. Leverage: 1:30 | 1:1000
Regulation: CySEC, IFSC
Trading Platforms: MT4, MT5, cTrader, RTrader
5.0 rating
Min. Deposit: 1 US$
Max. Leverage: 1:30
Regulation: FCA, BFSC
Trading Platforms: Proprietary Platform and Apps
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:200
Regulation: CySEC, FSCA, VFSC
Trading Platforms: MT4
5.0 rating
Min. Deposit: 500 US$
Max. Leverage: 1:30 | 1:200
Regulation: CySEC, FCA, BaFin, VFSC, NBRB
Trading Platforms: MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:500
Regulation: FSP
Trading Platforms: MT4
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:200
Regulation: FCA, CySEC, SCB, FSCA
Trading Platforms: MT4, MT5, cTrader, FxPro Edge
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC
Trading Platforms: MT4, MT5, CQG
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:500
Regulation: FCA, FSA, CySEC
Trading Platforms: MT4, WebTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: ASIC, CySEC
Trading Platforms: IRESS, MT4, MT5
5.0 rating
Min. Deposit: 500 US$
Max. Leverage: 1:30 | 1:200
Regulation: CySEC, FCA, BaFin, VFSC, NBRB
Trading Platforms: MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:500
Regulation: ESMA, CySEC, FSC, NFA, FSA
Trading Platforms: MT4, MT5, Webtrader, Mobile App
5.0 rating
Min. Deposit: 0 $
Max. Leverage: 1:30 | 1:1000
Regulation: CySEC, FSC BVI
Trading Platforms: MT4, WebTrader, MobileTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1;30 | 1:500
Regulation: CySEC, ASIC, MFSC
Trading Platforms: MT4 and CrowdTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:400
Regulation: FCA, ASIC, IIROC, CySEC, NBRB
Trading Platforms: Fortrader Platfrom, MT4
5.0 rating
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Regulation: CySEC, FCA, DFSA, FSCA
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:200
Regulation: FCA, SCB, FSCA, FSC
Trading Platforms: MT4, IXO
5.0 rating
Min. Deposit: 100 EUR
Max. Leverage: 1:30 | 1:500
Regulation: CySEC
Trading Platforms: MT5, cTrader
Min. Deposit: 100 GBP
Max. Leverage: 1:30
Regulation: FCA
Trading Platforms: Advantage Web, AT Pro, MT4
5.0 rating
Min. Deposit: 100 GBP
Max. Leverage: 1:30
Regulation: FCA
Trading Platforms: Advantage Web, AT Pro, MT4
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC, FSA
Trading Platforms: MT4, cTrader, Skilling Trader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC
Trading Platforms: WebTrader, MT4
5.0 rating
Min. Deposit: 0 US$
Max. Leverage: 1:400
Regulation: ASIC, FCA, FSCA
Trading Platforms: MT4, MT5, ThinkTrader
5.0 rating
Min. Deposit: 20 US$
Max. Leverage: 1:30
Regulation: CySEC, FCA, NBRB
Trading Platforms: MT4, WebTrader, Mobile App
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: CySEC, FSCA, CNMV
Trading Platforms: WebPROfit
5.0 rating
Min. Deposit: 250 EUR
Max. Leverage: 1:30 | 1:400
Regulation: CySEC
Trading Platforms: WebTrader, MT4
5.0 rating
Min. Deposit: US$200
Max. Leverage: 1:30 | 1:200
Regulation: CySEC,FCA, FSCA
Trading Platforms: MT4, MT5, FTXM Trader
5.0 rating
Min. Deposit: 250 US$
Max. Leverage: 1:30
Regulation: FCA, KNF, IFSC
Trading Platforms: MT4, xStation 5
Min. Deposit: 200 US$
Max. Leverage: 1:500
Regulation: FMA, FSA
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 200 US$
Max. Leverage: 1:30
Regulation: BaFIN
Trading Platforms: MT4, MT5, AgenaTrader
5.0 rating
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Regulation: ASIC, CySEC
Trading Platforms: cTrader, MT4, MT5
5.0 rating
Min. Deposit: 1 USD
Max. Leverage: 1:30
Regulation: CySEC, IFSC, FSCA, ASIC
Trading Platforms: MT4, MT5, FBS trader, CopyTrade
5.0 rating
Min. Deposit: 200 US$
Max. Leverage: 1:500
Regulation: ASIC, FCA, DFSA, CySEC, BaFIN, SCB, CMA
Trading Platforms: MT4, MT5, cTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:400
Regulation: CySEC, ASIC, FSCA
Trading Platforms: Markets.com Web, MarketsX, Marketsi, MT5
5.0 rating
Min. Deposit: 200 US$
Max. Leverage: 1:30
Regulation: ASIC, CySEC
Trading Platforms: MT4, MT5, WebTrader
5.0 rating
Min. Deposit: 50 US$
Max. Leverage: 1:30
Regulation: FCA
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 1 US$
Max. Leverage: 1:30 | 1:1000
Regulation: CySEC, FCA, SFSA
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Regulation: ASIC, FCA, CySEC, EFSA
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: ASIC
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 0 US$
Max. Leverage: 1:30
Regulation: CySEC, FSA
Trading Platforms: MT4, cTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 - EU/UK/ 1:300 - AU
Regulation: FCA, CySEC, ASIC, MAS
Trading Platforms: Plus500 Platform
5.0 rating
Min. Deposit: US$200
Max. Leverage: 1:30
Regulation: CySEC,FCA, ASIC
Trading Platforms: eToro Platform
5.0 rating
Min. Deposit: US$5
Max. Leverage: 1:888
Regulation: FCA, IFSC, CySec, ASIC
Trading Platforms: MT4, MT5, WebTrader
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30
Regulation: FCA, CySEC, DFSA, CIMA, FSC
Trading Platforms: MT4, MT5
5.0 rating
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:400
Regulation: Bank of Ireland, ASIC, JFSA, FSCA
Trading Platforms: MT4, AvatradeGo

The United Kingdom is home to some of the world’s highest number of Forex traders. Forex traders require forex brokers in the UK to be able to trade forex. Without brokers, trading currencies online becomes almost impossible. So choosing the right broker is very important if you want to be able to trade forex, secure your investment, and maximize your profit potential.

Who are Forex Brokers UK?

Forex brokers UK are financial service companies that provide traders access to their platforms in order to help them buy and sell foreign currency, and in some cases, cryptocurrencies. Also known as currency trading brokers or retail forex brokers, these firms charge a commission on profits made by traders who use their platform. Furthermore, they have different minimum trading deposits ranging from as low as $5 to as high as $100.

Why is it important to choose the right Forex Broker?

Regardless of your trading skills, the type of forex brokers in the UK you pick will determine your success by no small measure. If you pick the right broker, the chances of making a healthy return on your investment are higher than picking the wrong broker. To be fair, your skills as a trader matters more; however, trading with the wrong broker increases the risk of making a loss

Who verifies legitimate forex brokers in the UK?

Forex trading in the UK is regulated by the Financial Services Act of 2012 (FCA). THE FCA replaced the Financial Services Authority (FSA). For a firm to legitimately operate as a broker in the UK, it must have an operating license issued by the FSA. So, therefore, when looking for a forex broker to register with, you need to know if they are registered with the FCA or not. How do you do this?

  1. Check for a disclosure text highlighted at the bottom of the broker’s homepage
  2. Search for the broker on FCA’s website and validate the registration number

Note: If the registration number is valid, you will definitely find out on the FCA website. Furthermore, some brokers are registered with foreign regulators like ASIC, FINMA, MAS, and CySEC. These brokers are also legitimate.

List of Best Forex Brokers in the UK – Short Broker Reviews

Since we want you to have access to the best trading platforms, we have taken the time to review some of the best forex brokers UK. All the firms that appear on our list are registered with the FCA and the security commissions of other countries. Do note that the brokers in this list need not have their headquarters here in the UK; however, they have operating licenses, and their platforms are open to UK forex traders.

IG markets review opinions

IG markets

Minimum deposit : 300 €
Licenses : FCA
Platforms : MT4, MT5
Ideal for : beginners, advanced

IG is one of the most popular forex brokers in the UK, with a highly integrated trading platform. IG’s trading website offers traders excellent research and training tools to help them improve their trading skills and make the right forecast. Their competitive proving and low commission rates are two more reasons why theirs is a highly rated platform. In addition, IG is one of the most trusted platforms. Founded in the year 1974, here are the key details you should know about this forex broker UK.

Key details

  • 19,000 instruments and are available for trading
  • Regulated under the tier-1 jurisdiction
  • Provides research tools
  • Offers Premium MT4 and MetaTrader 4 add-ons
  • 76 tradeable instruments

Our Take: IG is a low-risk trading platform because it is a publicly traded company with many certificates and approved licenses to show. This entity also operates a bank and registered under as many as 6 tier-1 regulators, indicating a relatively high level of trust. It also operates under 3 tier-2 regulators, which signifies average trust. Here are the regulators that have authorized IG as a forex broker in their respective jurisdictions.

  • Australian Securities and Investment Commission(ASIC)
  • Japanese Financial Services Authority(JFSA)
  • Swiss Financial Services Authority (FINMA)
  • Monetary Authority of Singapore (MAS)
  • Commodity Futures Trading Commission(CFTC)

IG is open to traders in the UK, New Zealand, Japan, the US, and many other countries. It offers non-CFD exchange-traded securities to UK traders and extra forex options. There are also cryptocurrency assets available on the platform for trading, but it does not open access to UK traders for crypto derivatives.

Saxo Bank

Saxo Bank is another forex trader in the UK you may want to try out if you are looking for an ideal platform to trade your favorite assets. This broker offers traders cutting-edge technology and a site with excellent features that will simplify the trading process. The minimum deposit to activate a Saxo Bank trading account is $10,000 minimum. This forex trader UK offers amazing research tools, easy-to-use trading tools, fantastic customer service, and 40,000 trading instruments.

Key details

  • Incorporated in 1992
  • Has 6 tier-1 licenses issued by different regulators
  • Minimum deposit for entry level account ($10,000), Platinum account ($200,000) and a VIP account ($1,000000).
  • 40,000 traded instruments

Our Take: The minimum trading deposit is quite high and only affordable to big-time traders. We only recommend this trading platform to experienced traders who have a big investment to trade with. You can trade up to 182 forex pairs with just 0.4 pips which is great. Saxo Bank is a low-risk forex broker, so big-time traders prefer to use the platform. The regulators that have issued licenses to this broker include

  • Australian Securities and Investment Commission (ASIC)
  • Securities Futures Commission (SFC)
  • Monetary Authority of Singapore (MAS)
  • Japanese Financial Services Authority (JFSA)
  • Financial Conduct Authority (FCA)
  • Swiss Financial Market Supervisory Authority (FINMA)

Although Saxo Bank is not a publicly traded company, it has worked towards eliciting a high level of trust among traders and customers over the years. This makes it a low-risk forex broker UK that you can use for your trading activities.

CMC

CMC Markets is a global leader as far as forex brokerage services are concerned. This trusted broker offers traders one of the best trading platforms we have seen. Their platform is loaded with innovative trading tools, quality research tools, charts, and instruments to simplify the trading process for you. This is why it is not only a highly rated forex broker in the UK but also highly rated by traders in different countries. There are almost 10,000 tradable instruments on CMC Markets.

Key details

  • Formed in 1989
  • Jas 4 tier-1 regulations
  • Has 2 tier-2 regulations
  • Advanced tools for market research trading and training
  • MT4 and mobile application

Our Take: CMC Markets is a tested and trusted forex broker available to traders operating in the UK. Its tier-1 and tier-2 licenses make it a low-risk trading platform. As a result, the commission charged on profit is quite low. These are the following regulators who have issued licenses to CMC Markets.

  • Australian Securities and Investment Commission (ASIC)
  • Securities Futures Commission (SFC)
  • Monetary Authority of Singapore (MAS)
  • Investment Industry Regulatory Organization of Canada(IIROC)
  • Financial Conduct Authority (FCA)

If you are new to forex trading and you want to catch up really fast, this forex broker will be of help to you because of the user-friendly trading platform. There are tools you can leverage to improve your skill within a very short time.

Interactive Brokers

Interactive Brokers is another forex broker UK with a very long and storied history. This broker has been in existence for close to half a century and has consolidated equity capital worth more than $9 billion. The diversity of its trading instruments makes it one of the best trading platforms for beginners, intermediate and expert traders. This forex broker is rated by Standard and Poor’s as investment grade.

Key Details

  • Active in 135 destinations worldwide
  • Offers trading and clearing services worldwide
  • More than 2.25 million trades executed per day
  • Active in the UK and many European countries

Regulators to have issued licenses to interactive brokers include

  • New York Stock Exchange (NYSE)
  • Securities and Exchange Commission (SEC)
  • Financial Services Act (FCA)

Our Take

Interactive Brokers is one of the best forex brokers UK, with a high trust ratio. The FCA and many other monetary commissions have issued licenses to this broker. Trading on this platform offers you several perks. For starters, their cost is transparent, so you have a fair idea of how much you pay as commission. In addition, the commission rates are quite low, and there is a stock yield advancement option to help you reduce your cost. Interactive brokers also offer traders the best price execution. The tradable assets are also limitless, ranging from currencies, bonds, futures, stocks, and options that can all be traded from a single account.

City Index

City Index is a forex broker that is a subsidiary of GAIN CAPITAL. This forex broker is a trusted brand in the UK and elsewhere with an excellent trading platform for old and new traders. Traders have the option to either trade using the desktop website or via the mobile app. City Index offers training education, market research tools, and an extensive range of trading services that so many people have come to trust. It is a safe and low-risk platform, so rest assured that your investment is secured if you choose to use this forex broker in the UK.

Key details

  • Has 3 tier-1 regulations
  • Offers crypto trading opportunities
  • MetaTrader offers
  • ATP Pro Desktop

Our Take

City Index is an easy-to-use platform. It’s safe and has all the tools you need for your market research and to place your trades. The only downside we found with this forex broker is that it offers a smaller asset range compared to other forex traders in our review. However, it has all the tools that a modern trading platform should have. The regulators who have issued licenses to City Index include

  • Australian Securities and Investment Commission (ASIC)
  • Monetary Authority of Singapore (MAS)
  • Financial Conduct Authority (FCA)
XTB

XTB

Minimum deposit : 0 €
Licenses : KNF, FCA, CySEC
Platforms : xStation
Ideal for : beginners, advanced, professionals

XTB is one of the largest stock exchange-listed CFD brokers in the world that provides retail traders with premium access to its platform for the trading of financial assets and securities. The mere fact that you can access hundreds of markets across the globe from the comfort of your home or office is what makes it a very reliable and dependable platform. XTB has offices in more than 13 countries, including the UK, France, Chile, Germany, and Poland.

Key Details

  • 24 hours customer support services 5 days a week
  • Thousands of tradable assets
  • Highly integrated xStation trading platform available in desktop and mobile versions
  • Over 275,000 customers worldwide

Our Take

The technology behind XTB is what makes it an exciting platform to trade on. You have access to hundreds of currencies, futures, options, and stocks. Furthermore, the forecasting tools at your disposal will help you make the right investment calls even within a relatively short window. With more than 15 years of experience, XTB has indeed carved a niche for itself in the UK and globally. Some of the regulators to have given this forex broker a pass mark include

  • FCA
  • CySEC
  • IFSC
  • KNF

 

FXTM

FXTM or Forex Time Company is a global brokerage brand. Founded in 2011, this forex broker has a headquarters in Cyprus Limassol with tentacles spread across the globe. It is authorized by the Financial Conduct Authority and several other regulators. As of the time of preparing this review, FXTM is one of the fastest-growing brokerage companies in the world, with a growing user base. This growth is noticeable across Europe, Asia, and Africa. FXTM offers traders a high trading spread and a very low deposit requirement of $200 minimum. The commission charged as a withdrawal fee is also one of the lowest in the industry.

Key details

  • MT4 and MT5 trading platforms
  • More than 250 financial instruments
  • Founded in 2011
  • Operates several offices
  • More than 50 currency pairs
  • Crypto trading is available
  • More than 750,000 active accounts

Our Take: FXTM is a first-class forex broker UK with an extensive asset portfolio for traders. There are several base currencies with first-class customer support 5 days a week. The $200 minimum deposit requirement may be a huge turn-off for beginners, but the integrated platform is what makes it a huge draw for many. Regulators that have issued licenses to FXTM are

  • CySEC of Cyprus
  • FCA
  • FSC of Mauritius
  • FSCA of South Africa

There are three subsidiaries under FXTM, which are Exinity, ForexTime UK, and ForexTime Ltd. The UK subsidiaries have more than 10,000 clients scattered across 135 countries. As a result, there is a high level of trust associated with this stockbroker.

Go Markets

Go Markets is another popular forex broker in the UK. This forex brokerage firm was launched in 2006 and started operation with an Australian ASIC license. With offices in Australia and Cyprus, Go Markets offers traders the platform to trade different securities and assets wherever they may be. As long as you have an internet connection, you can trade on this platform like the others. Go Markets has advanced software for executing fast trades. More importantly, you can use the tools found on the platform to improve your skills to arrive at desired trading outcomes. What is great about this forex broker UK is that traders with the smallest budgets can still use the platform.

Key details

  • MT4 and MT5 platforms available
  • Research and learning tools available
  • 10 point summary
  • Euros, US Dollars, and Australian dollars are the base currencies
  • Swap-free accounts
  • Excellent customer support

Go Markets is a very good platform to trade on, especially if you are a beginner. However, the MT5 platform is excellent for professional readers with a wealth of experience. Your investment is safe and secure with Go Markets, and there are no delays when withdrawing your cash. The regulators to have issue licenses to Go Markets are

  • Cyprus Security Commission(CySEC)
  • Australian Financial Services (ASIC)

Our Take: Being a European entity due to its operating licenses issued by Cyprus regulators, traders in the UK can trade on Go Markets with no problems whatsoever.

FP Markets

FP Markets was established in 2005 and currently has more than 12,000 trading clients worldwide. With a track record for providing traders with a first-class service, this forex broker has earned its place on this list. One of the big draws attracting many traders to this broker is its ECN digital bridges that improve user experience. The good news is that traders in the UK can also trade on this platform and enjoy the same benefits as traders from other parts of the world. FP markets is licensed by the

  • Australian Investment Commission (ASIC)
  • Cyprus’ CySEC

Its recent license clearance by Cyprus granted it legal status to operate in Europe within the EEA. This stockbroker also offers clients Equinix NY4 Data Centers that allow traders to execute orders quickly to get the best possible price for any asset they pick.

Key Details

  • Equinix NY4 Data Centers
  • Spreads from 0.0 pips
  • Fast withdrawals
  • Excellent customer service

Our Take: FP Markets is a modern trading platform for beginner, intermediate and expert traders. FP is a safe trading platform, and your investment is safe with them. Based on the length of time they have operated, rest assured that this platform is one that will not disappoint. Moreover, FP Market is compliant with MiFID European directives making it one of the most trusted forex brokers in the European circuit.

pepperstone

PEPPERSTONE

Minimum deposit : 200 €
Licenses : ASIC, FCA
Platforms : MT4, MT5, cTrader
Ideal for : beginners, advanced, professionals

Pepperstone Brokers is a subsidiary of Pepperstone Group Limited. This company is based in Australia and was founded in 2010. Over the years, it has grown to become one of the largest forex brokerage firms in the world. Over time, Pepperstone expanded its reach, and in 2016, the company expanded access into the European market, especially into the UK. Today, Pepperstone caters to the needs of traders in the UK, making them one of the best forex brokers UK. As of the time of preparing this review, Pepperstone has links in Bangkok, London, Melbourne, and Dallas.

Key details

  • Quotes from 22 Electronic Crossing Networks and Major Banks
  • Low Price spread
  • Award-winning broker
  • Services the needs of retail and institutional traders

Pepper stone brokers initially started as specialist brokers for interbank execution offering low spread pricing. As time went on, the broker began establishing assistant networks with retail and institutional traders by offering them low prices through several liquidity destinations. Over time it metamorphosed into an execution broker solely. The regulators to have issues licenses to Pepperstone include

  • Australian Securities and Investments Commission (ASIC)
  • Australian Financial Services License
  • Financial Conduct Authority (FCA)
  • CMA of Kenya
  • Cyprus Securities and Exchange Commission(CySEC)

Our Take: Pepperstone is a tested and trusted brand. Their platform offers overall customer satisfaction, value-added services, and efficient execution speed. Their service quality has drawn high praise from traders who use their platform. In addition, it has gained widespread legitimacy by expanding into new regions like Africa and Asia. Finally, by complying with DFSA regulations, traders can rest assured that their investment is in the right hands.

BDSwiss

BDSwiss was established in 2012. This Zurich-based company offers International brokerage services to clients numbering more than 1.5 million in well over 180 countries. BDSwiss is fast becoming one of the largest forex brokers in the world because traders have come to trust the brand. Furthermore, this forex broker operates offices in many locations, with the headquarters in Limassol, Cyprus. They also have offices in Berlin, Kuala Lumpur, Tirana, and Pristina. Its excellent services have also won numerous awards issued by Scouts, World Finance, International Investor, and the Asia Global Banking and Finance Awards.

Key Details

  • Excellent trade execution features
  • User-friendly app
  • MiFID compliant

BDSwiss is also fully incorporated under Cyprus law as a legal and trading entity. It is also compliant with European MiFID directives, which deliver safe trading to clients who use their platform. BDSwiss is regulated by the

  • Mauritius Financial Services Commission
  • Cyprus Securities and Exchange Commission (CySEC)

Our Take: BDSwiss is a safe broker whose platform you can use for your trading. It is compliant with the high MiFID standards expected of brokerage companies that operate within the UK. Since it has offshore registration, we recommend that you do your due diligence if you are an onshore trader. But overall, it is a good forex broker with unusually high trading standards.

HotForex

HotForex is another fast-growing forex stockbroker UK that has taken the industry by storm. This multi-asset broker offers Commodities and Forex trading to interested brokers by offering them access to as many as 7 different types of accounts. With this platform, you have access to unrestricted liquidity to make your trading choices. Established in 2010 in Cyprus, it has expanded and now has global offices in Dubai, St Vincent, and the Grenadines Island, and South Africa.

Key Details

  • Established in 2010
  • Offers right spreads averaging 0.1 pips
  • Automated trading platform access
  • Onshore and offshore trading entities
  • 7 different types of trading accounts
  • More than 500,000 active account holders

Besides its regional offices, HotForex also has national offices in Asia, Africa, and the MENA regions. The regulatory license is issued by

  • Cyprus Securities and Exchange Commission (CySEC)

Our Take

This forex broker UK is a growing brand, and we see the impact they have made translated into prestigious awards like the Best Forex Provider, Best Clients Funds Security Broker awards. This is because it offers traders attractive proposals secured with safety controls and measures. With an operational office in the UK, HotForex is definitely one of the best forex brokers in the UK for traders.

Things to consider when choosing a Forex Broker in the UK

The forex trading industry is full of brokers who offer their platforms to retail and institutional brokers. These brokers claim that their platform is the best and safest for traders, but this is not always the case. In order to secure your investments, you need to take your time to pick the best forex broker UK that offers you the best service and one that will secure your investments. Conducting extensive research is the only way you will avoid falling for a dishonest broker and ruining your investment. Here are some of the things to consider when choosing a forex broker in the UK.

  1. Is the Broker Regulated

Before you entrust your funds to a broker, you need to be sure that it will be safe. The only way you can guarantee this is if a government entity regulates the broker’s operation. The best forex brokers in the UK have their operations regulated by the Financial Conduct Authority (FCA). However, not all brokers operating in the UK are regulated by the FCA. Other notable regulators are ASIC of Australia, CySEC of Cyprus, JFSA of Japan, FINMA of Switzerland, and MAS of Singapore. The more regulatory licenses a broker has, the better. Brokers whose activities are regulated operate under the highest standards and will not run away with your money.

Furthermore, should they violate the terms of the agreement or the legal code, you can sue them for damages.

  1. What are the trading costs?

The next thing to consider is the trading cost. What will it cost you to trade with the broker? All brokers do not charge the same transaction costs. Some brokers charge more than others. What you want is a broker that will take as little commission from your profit as possible. Look at multiple brokers to identify the one that offers you the best deal possible.

Another thing you want to look at is the minimum deposit the broker allows. If the minimum deposit is higher than what you can afford you may want to look elsewhere. Other charges include withdrawal fees, interest rates, and rollover costs. All these charges impact your profit margins so take note.

  1. Quality of the trading platform

The best forex brokers UK have standard platforms with automated features. If you want to enjoy your trades, this is an important factor never to overlook. You want a platform with intuitive features that allow you to place trades quickly. You also want a platform that is easy to navigate based on your level of experience. Fast trades and fast execution is important if you want to be a successful trader. Popular platforms include MT4 and MT5, and some brokers have their own platforms too.

  1. Quality of Customer Service

What is the quality of the customer service? Does the broker offer first-class service round the clock? This is another major factor that should influence your decision. On average, a very good broker should offer at least 24 hours of customer support, five days a week. Handling customer’s requests and responding to complaints on time is crucial.

  1. Training

Free training services are an epitome of a good forex broker. If you register with a good forex trader that offers training resources, your skills will remain current, and you will improve your practice. Training resources like demo accounts, trading tools, articles, webinars and training videos are very important.

  1. Trading style

You also want to make sure that the broker you register with runs a platform that befits your style. For example, if your trading style is a carry trade, you want a platform that allows that. If you prefer scalping, you need a broker who offers tight spreads but does not impose minimum time frames for entry and exits. Choosing a forex broker in the UK whose platform does not suit your trading style will not be in your best interest.

  1. Extras

To crown it all up, you should also bear the following in mind when doing your search.

  • Account types on offer
  • The leverage available
  • Currency pair ranges

Having all these factors at the back of your mind will help you make the best choice.

Conclusion

Forex traders in the UK have more options when it comes to picking forex brokers UK compared to what was obtainable in the past. All the forex brokers reviewed in this article are registered with multiple regulators, with the Financial Conduct Authority (FCA) being one of them. To conclude the article, we also highlighted 7 key factors to look out for when choosing a forex broker in the UK. If you adhere to these factors, you will definitely make the right choice.

Forex Broker UK FAQs

Who is a forex broker?

A Forex broker is an online agent that provides forex traders with platforms on which to trade cryptocurrencies

Are all accessible Forex Brokers in the UK licensed by the Financial Services Act of 2012 (FCA)?

No. Not all forex brokers operating in the UK have an FCA license. Some brokers are licensed by the regulatory authorities of other countries.

How do I know if a Forex Broker is Licensed?

To find out, visit the broker’s homepage and search for it. You will likely find it in the About US Section or the license section (if there is one). Some forex brokers display their licenses at the bottom of all their pages.

Do all Forex Brokers in the UK offer cryptocurrency trading?

No, all brokers do not offer cryptocurrency assets for trading. If you want to trade cryptocurrencies, you need to find a broker that offers such.

Is account registration free?

Yes. All forex brokers UK offer free account opening to new traders.

Do I have to pay to use the training tools and resources on their platform?

No, the training videos, articles, tutorials, and tools offered by forex brokers are provided to their clients free of charge.

What are the different types of forex brokers?

There are majorly two types of brokers. They are retail brokers and institutional brokers. Some forex brokers play both roles.

What are the common trading platforms offered by forex brokers in the UK?

There are majorly three. We have the MetaTrader 4 and MetaTrader5 platforms as well as customized trading platforms.

What is the minimum initial deposit?

The minimum deposit will depend on the broker in question. Some brokers accept a minimum deposit of $100. For others, it is $200. Then there are forex brokers who accept a higher deposit.

How do I contact a forex broker I am interested in trading with?

All brokers have active customer support channels through which you can make direct inquiries and lay complaints.

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