Best Forex Brokers In UK Comparison

The best forex brokers in the UK are regulated by the Financial Conduct Authority (FCA) offering the leading forex trading platforms from MetaTrader 4 to cTrader, low CFDs spreads from 0.0 pips on EUR/USD currency pairs and a range of financial services from currency, ETFs to cryptocurrencies.

View The UK forex brokers below based on fees, features and more.

By Justin Grossbard / Updated: Wednesday, December 11th, 2019

UK Forex Brokers

Best Forex Brokers UKTop 5 UK Forex Brokers

The best forex broker in the UK with FCA regulation for each forex trading category are:

  • Pepperstone – Overall Best UK Forex Broker
  • Swissquote – Best No Commission Account
  • eToro – Best Social/Copy Trading
  • IG – Best Range Of Forex Trading Platforms
  • City Index – Best Beginner Forex Trading Broker

Every forex broker in the UK recommended on this page is listed on the Financial Conduct Authority FCA register. This was called the Financial Services Authority (FSA) prior to 2013 after which the Banking Reform Act reformed the authority. You can view the full list of FCA regulated brokers at the bottom of this page.

Broker Reviewed

PepperstoneSwissquoteeToroIGCity Index
Our Rating
9.17
7.67
7.17
6.67
7.17
Pepperstone Review Swissquote Review Review Of eToro Review of IG Markets City Index Review
71.4% of retail CFD accounts lose money 79% of retail CFD accounts lose money 75% of retail CFD accounts lose money 75% of retail CFD accounts lose money 72% of retail CFD accounts lose money

Regulations and Licenses

FeaturePepperstoneSwissquoteeToroIGCity Index
FCA (UK)

Brokerage

FeaturePepperstoneSwissquoteeToroIGCity Index
No Commission Account Spreads From (EUR/USD): 1.0 1.1
(Prime)
3.0 0.6 0.5
Commission Account Spreads From (EUR/USD): 0.1
Commission (per 100k traded side trip) GBP £2.295 Side Trip (MetaTrader)
Minimum Deposit GBP £200 USD $1000 (Standard) / $10,000 (Premium) / $50,000 (Prime) USD $200
Volume Commission Rebates
Has Islamic Account
No Inactivity Fees
Funding Methods 3 3 6 4 6
No Deposit/Withdrawal Fees

Markets and Instruments

FeaturePepperstoneSwissquoteeToroIGCity Index
Forex Currency Pairs CFDs 61+ 138+ 47+ 80+ 84+
Cryptocurrency CFDs 5+
98+ 5+ 5+
Index CFDs 14+ 26+ 13+ 34+ 21+
Share CFDs 60+
2000+ 12000+ 4500+
Commodities CFD 15+ 12+ 12+ 38+ 29+
Stockbroking
N/A 2000+
Retail Maximum Leverage 30:1 30:1 30:1 30:1 20:1
Professional Maximum Leverage 500:1 400:1 400:1 200:1 400:1

Trading Platforms + Tools

FeaturePepperstoneSwissquoteeToroIGCity Index
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
MetaTrader 4 only MT4 only
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection
Demo Account
Unique Feature 1 Commission rebates for active traders Has the lowest spread only account CopyTrader functionality for automated trading Guaranteed stop loss orders Best for beginners
Unique Feature 2 Award Winning Customer Support Negative balance protection Social trading interface across CFDs

Pepperstone UK LogoBest Forex Broker In UK = Pepperstone

Pepperstone Limited trades in the UK under FCA license 684312 and has:

  • Low forex and CFD trading fees
  • The choice of Metatrader 4 + 5 and cTrader forex platform
  • Strong customer service

Pepperstone Has Best Lowest Spreads + Commission Account

There are two accounts offered by Pepperstone with the award-winning razor account having the lowest fees. This is achieved by combining spreads in-line with an ECN broker from 0.0 pips for the EUR/USD plus a commission. That commission is £2.29 per lot for those who use MetaTrader and £3.50 for those who select the cTrader forex platform. This Pepperstone Razor account a shown below is recommended for advanced traders, algorithmic traders and scalpers.

Pepperstone UK Trading Accounts

To further reduce costs there is an active trader program which for high volume traders can reduce commission by 15%. This can be even higher when trading forex at very high volumes. Ignoring this program and just looking at the standard commissions, below compares Pepperstone to similar UK ecn broker equivalent accounts.

 EUR/USD Spreads FromCommissionMinimum Deposit
Pepperstone0.0£2.29£200
London Capital Group0.0£2.35£0
Valutrades0£2.35£50
ThinkMarkets0.0£2.50£500
AxiTrader0.0£2.74$200 USD
Vantage0.0£2.74£268
Price Markets0.2£2.74£391
Tera Fx0.2£2.74£100
XTB0.1£3.00£250
Forex.com0.4£4.64£50

It should be noted that are no deposit or withdrawal fees charged by Pepperstone. The only charges may be financial institutions (such as banks) for the movement of funds. The minimum deposit is £200 to open a forex trading account which is low for such a low spread and commission account.

Review Of Pepperstone
REGULATED BY
  • asic
  • fca

Pepperstone

Pepperstone is an award-winning FX online broker that offer low spreads with ultra-fast execution speeds. The broker 'Standard account' has spreads from 1 pip with no commissions and a 'Razor account' with spreads from 0.0 EUR/USD and commission of £4.59 with MetaTrader and £7.00 for cTrader platform. Users have a wide choice of CFD, hedging, scalping and expert advisors.

MIN. AMOUNT
GBP £200
MIN. SPREADS
0.0 pips (Razor)
MAX. LEVERAGE
1:30 Retail / 500:1 Pro
OUR BROKER RATING
9.17
  • Account Types
    Standard, Razor (MT4/MT5), Razor (cTrader),
  • Commission (per 100k side trip)
    From GBP$2.295
  • Trade Sizes
    Mini-lots, Micro-lots, Standard-lots
  • Trading Instruments
    Commodities, Gold, Silver, Metals, Oil, Equity Indices, Cryptocurrency, Shares CFD, Currency Index
  • Trading Platforms
    MetaTrader 4, MetaTrader 5, cTrader
  • Deposit Methods
    Visa, MasterCard, Bank Transfer
  • Funding Costs
    $0 (except bank wire GBP£15 min withdrawal £80)
  • UK Regulation
    FCA 684312
  • Customer Support
    24/5- Live chat, Phone, eMail
  • Education
    Available
  • Risk Management
    Standard risk features
  • Bonus Offers
    Refer a Friend, Active Trader Rebates
  • Trustpilot Reviews
    4.6 - ‎512 reviews
details

Pepperstone Offers The Leading Forex Trading Platforms

Pepperstone offers the best forex trading platforms that are now propriety to Pepperstone. As these popular forex platforms are offered by a number of other top forex brokers in the UK it makes it easier to switch brokers if required. It also means there are more participants in marketplaces for elements such as trading programs increasing choice when trading forex.

MT4 Trading Platform Logo1) MetaTrader 4 Trading Platforms

MetaTrader 4 (MT4) is globally the most popular forex trading platform based on its:

  • Easy to use interface
  • Fast execution speed
  • Expert Advisor automated trading

MT5 Trading Platform Logo2) MetaTrader 5 Trading Platform

MetaTrader 5 (MT5) focuses on traders looking for a range of market (not just forex) offering:

  • Increased technical (33) and analytical indicators (44)
  • The ability to trade Share CFDs
  • Advanced charting in real-time and live news feeds

cTrader Forex Trading Platform Logo3) cTrader Trading Platform

  • Inter-bank (London) direct access for automated fx trading
  • Personalisation options across the interface and detachable charts
  • Backtesting options for automated programs (marketplace and custom)

Pepperstone Equinix

What makes Pepperstone standout against other UK forex brokers is their ECN broker like forex platform execution speeds. Most forex orders are executed below ~30ms*, ideal for automated or high volume traders. This is achieved through EDGE which for MT4 is:

Faster – 10x latency reduction and 12x improvement in execution speed thanks to optical fibre connections to the New York interbank servers. Pepperstone also uses the Equinix servers next to Wall Street where 60+ exchanges, over 150 financial service providers and over 40 buy/sell firms are located.

Smarter – PPI (Price Improvement Technology) gets optimal prices by routing to market hot-spots. This is displayed in the forex platform showing liquidity and the market order book.

Tighter – Improved interbank connectivity plus dark pool liquidity means tighter spreads starting at 0.0 for the EUR/USD currency pairing.

Pepperstone Has Award-Winning Customer Support

Pepperstone is one of the most awarded UK forex brokers when it comes to customer support. This includes the “best forex trading support” at the UK Forex Awards and “best forex trading support – Europe” at the Global Forex Awards. They also multi-award winners with Investment Trends which is a survey sent to real forex traders annually.

Pepperstone UK Awards

The UK support offering customer service is based at:

Pepperstone Limited
70 Gracechurch St
London, UNITED KINGDOM EC3V 0HR

Customer service for forex traders is offered from this office and their satellite offices include:

  • Phone Support
  • Live Chat
  • E-mail Support

Overall, the combination of outstanding customer support, low trading costs, the choice of the most popular forex trading platforms and fast execution speeds which is why we rated Pepperstone the best forex broker in the UK.

Open a demo account >>Visit Pepperstone >>


Our Rating

The overall rating is based on review by our experts

9.17
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
7 / 10
Range of Markets
8 / 10
Customer Service
10 / 10


Best No Commission Account = Swissquote

There are two entities in Europe when it comes to Swissquote. The first is Swissquote Bank Ltd and as a Switzerland licenced bank, it has a range of financial instruments and markets.  Swissquote Bank Ltd is not FCA regulated and rather is licenced by FINMA. Swissquote Ltd is FCA regulated and focuses primarily on CFD trading across, forex, energy commodities, metals, bonds derivates trading and stock indices. Swissquote Ltd has an office in the United Kingdom (UK) with its brokerage division (not bank branch).

Swissquote CFDs Trading AccountsSpread Only Forex Accounts Offered By Swissquote

Swissquote offers two spread only accounts which both have zero commissions. The most popular prime forex account has the lowest spreads but does require a higher minimum deposit of €5,000. The overall forex trading (also known as foreign exchange) feature of this forex account are:

  • Spreads from 0.6 pips
  • No commissions on trading
  • 15 currencies to trade (including GBP, EUR, USD)
  • Negative balance protection

Some example Prime account minimum spreads include:

  • USD/JPY = 0.6
  • EUR/USD = 1.0
  • GBP/USD = 1.0
  • AUD/USD = 1.0
  • EUR/GBP = 1.2

Swissquote also offers two commission accounts offers an elite forex trading account that has the highest minimum deposit of €10,000. This account is a commission plus spread account which means that spreads are lower (from 0.0 pips) but a €2.5 per side, per lot, is charged.

Another key feature of Swissquote forex trading accounts is they all offer negative balance protection. This means that losses for a trader cannot exceed their deposit. This has been known to occur during extreme trading events with leverage leading to large losses which for some other brokers needs to be repaid.

Stock Indices And Bonds

As an indicator of an economy’s health, stock indices help traders benefit from broad movements in markets. Example of indices are the #SP500 which is the market-weighted top 500 US shares while the #NAS100 focuses on the top 100 technology and bio-technology shares from Amazon to Facebook. The #DE30 focuses on the top 30 shares on the Frankfurt Exchange while the #SMI focuses on the smaller Swiss market.

Swissquote offers indices in two different formats: the FORWARD contract which replicates the Future with the same tick value, the same expirations date and no cost for a position taken overnight, with the advantage of a micro contract available (0.01). On the other hand, the SPOT or CASH contract reflects the futures price with a convenient tick value of $1 or €1, a minimum tradable size of 1 lot, overnight costs but no expirations and tighter spreads than the Forward contract. These two options are designed to respond to daily and long term traders.

Bonds, on the other hand, are viewed historically as a risk management tool. Leverage helps magnify these relatively small movements which are primarily influenced by interest rate movements. Many traders based on this use bonds as part of their hedging strategy. The primary bonds are the US Treasure Bonds (US T-Bond), Gilts issued by the British government (UK Long Gilt) and the Bund which focuses on obligations (long-term) of the German government (German Bund).

Swissquote Forex Education Course

Training Across All Markets

What makes Swissquote one of the best brokers is their education across their range of markets including online training (including videos), online seminars and offline training across Europe. Below shows an example of videos created by Swissquote to educate traders on forex markets. There are a variety of local and toll numbers for those are travelling or trying to reach us from abroad such as Cyprus which the number is 800 96595.

Swissquote

Swissquote is an international multi-asset broker with a choice of accounts with different entry points to cater for trader wishing to trade a wide range of trading instruments (bonds, CFDs, commodities, stocks, cryptocurrencies). Swissquotes offers commission-free trading with 3 award-winning trading platforms, multilingual customer support and automated trading.

MIN. AMOUNT
€5,000 (Prime Account)
MIN. SPREADS
0.6 (Prime Account)
MAX. LEVERAGE
1:30 Retail / 1:400 Pro
OUR BROKER RATING
7.67
  • Account Types
    Premium, Prime, Elite, Professional
  • Commission (per 100k side trip)
    None On Prime/Premium, €2.50 with Elite
  • Trade Sizes
    Mini-lot, Standard-lot (Premium Account)
  • Trading Instruments
    Forex Options, Precious Metals, Stock Indices, Commodities, Bonds
  • Trading Platforms
    MetaTrader 4, MetaTrader 5, Advanced Trader
  • Deposit Methods
    Credit Card (Visa, MasterCard), Bank wire transfer via eBanking Portal
  • Funding Costs
    GBP credit card deposit 2.2%, USD credit card deposit 2.5%
  • Regulation
    FCA: 562170
  • Customer Support
    24/5 multi-lingual customer support, Live chat, Email, Phone
  • Education
    Available
  • Risk Management
    Advanced tools available
  • Bonus Offers
    Refer a friend bonus, Introducing brokers
  • Trust Pilot
    2.5 / 5
details

eToro UK LogoSocial Trading = eToro

eToro (UK) Ltd is FCA regulated and unique to the other forex brokers in the UK with a focus on:

  1. Social Trading
  2. Investing
  3. CFD Trading

Social Trading

eToro created CopyTrader which allows individuals to copy the best traders in the United Kingdom and around the world. When you choose a broker their traders get copied and inserted into your account. This can be then managed in a transparent and simple way. Below shows an example of the social investor’s section of the site. You can allocate a set proportion of your existing funds to copy his or her portfolio. The person you’re copied also receives a small incentive from eToro for the more followers they receive.

eToro Social Trading

It should be noted that copy trading is the most popular feature of eToro. They have over 3,000,000+ active traders worldwide providing a plethora of choice when it comes to copying a portfolio. This is assisted through filters based on returns, number of copiers and what markets they like to trade such as Bitcoin and other cryptos. Another option shown below is market portfolios, trader portfolios and partner portfolios which combines traders, top performance assets or specific strategies.

eToro Copy Trading Portfolios

Stockbroking

eToro offers UK residences with a zero commission stockbroking service. This means there are no commissions on shares in markets across the world from the UK, Hong Kong to the USA. There are no limited on the amount traded and free stock analysis from a team of experts.

eToro Share Trading

While there are no commissions there are fees when it comes to trading shares with eToro. These include conversion fees for most UK residences as the eToro platform uses USD. This means transferring your GBP to eToro for share trading has some currency conversion charges. Then there is a withdrawal fee which is $25 USD. Again, this should be factored into the cost when comparing with other share trading services.

CFD Trading

If you’re more familiar with traditional  CFD products you can start trading with eToro across shares, commodities, currencies, indices and EFTs. Leverage for retail UK traders is up to 30:1 which is the maximum set by the FCA. If you qualify for a professional account this can be increased by up to 400:1 leading to a high-risk environment. If trading with either a retail or professional account trying the free demo account first before a high-risk live account is recommended.

eToro Share CFDs

As mentioned earlier, eToro has UK regulation as it does with Europe and Australia:

  • Financial Conduct Authority (FCA) 583263
  • Cyprus Securities & Exchange Commission (CySEC) 109/10
  • Australian Securities and Investments Commission (ASIC) 491139

You can view the full eToro review article to learn more about the United Kingdom forex broker or click on the link below to start trading.

eToro

Rapidly growing eToro differs from other brokers due to its emphasis on social and mirror trading. This broker has a proprietary platform purpose-built to make clients copy-trading experience simple. Users can use social media and copy features to create trade Crypto Shares CFD and Commodities and to enhance their reputation in order to earn money.

MIN. AMOUNT
USD$200
MIN. SPREADS
3.0 pips
MAX. LEVERAGE
1:30 Retail / 400:1 Pro
OUR BROKER RATING
7.17
  • Account Types
    Retail, Professional
  • Commission (per 100k side trip)
    None
  • Trade Sizes
    Min USD$25, Max USD$100,000
  • Trading Instruments
    Cryptocurrency, ETFs, Shares CFD, Equity Indices, Commodities, Stocks
  • Trading Platforms
    eToro Web / Mobile
  • Deposit Methods
    VIsa, Mastercard, Diners, Visa Electron, Maestro, PayPal, Neteller, Skrill, Webmoney, Yandexm Rapid Transfer, Klarna, Wire Transfer, Online Banking, China UnionPay
  • Funding Costs
    USD$25 Withdrawal fee (minimum USD$50)
  • Regulation
    FCA
  • Customer Support
    24/5 - Live chat, Support ticket (Email)
  • Education
    Available
  • Risk Management
    Standard + Guaranteed negative balance protection
  • Bonus Offers
    Refer a friend bonus, Popular investor program, eToro club
  • Trust Pilot
    2 / 5
details

IG AccountRange Of Forex Trading Platforms = IG Markets

IG provides a range of retail CFD accounts focuses on retail investors who want to trade forex. The retail investor accounts offer a range of forex platforms including:

  • L2 Dealer
  • ProRealTime
  • MT4
  • IG’s own forex platform

IG UK Forex Trading Platforms

Each of the forex trading platforms shown above also come with mobile solutions including a trading app. This allows you to trade forex on-the-go with the core functions needed for a smaller screen. IG also offers spread betting that can have tax benefits for UK residences.

You can view the best UK forex trading platform page for more comparisons of brokers based on their forex platform and other features.

About IG
REGULATED BY
  • finma

IG Markets

Founded in 1974, IG is one of the oldest and biggest online trading brokers in the market. While most brokers offer forex and CFD, IG is one of the few that also offer stocks. IG offers commission-free FX trading for OTC traders with fees starting from 0.6pips (EUR/USD), good range of risk management tools and large choice of trading platforms.

MIN. AMOUNT
$0
MIN. SPREADS
0.6pips
MAX. LEVERAGE
1:30
OUR BROKER RATING
6.67
  • Account Types
    CFD accounts - Personal, Institutional, Professional
  • Commission (per 100k side trip)
    None for Forex (yes for certain other instruments)
  • Trade Sizes
    Mini-lots, Micro-lots, Standard-lots
  • Trading Instruments
    Indices, Share CFD, Commodities, Cryptocurrencies, Stocks, Bonds, ETFS, Interest Rates, Sectors, Options, AUD or NZD denominated markets, Knock-out options
  • Trading Platforms
    IG Web/Mobile/Tablet, L2 Dealer, ProRealTime, MetaTrader 4
  • Deposit Methods
    Visa, MasterCard, PayPal, Bank Transfer
  • Funding Costs
    No Fees
  • Regulation
    ASIC, FCA, MAS, FMA
  • Customer Support
    24/7 - live chat, phone, Email, Community Forum, Twitter
  • Education
    Available
  • Risk Management
    Full range of tools available
  • Bonus Offers
    Volume based rebate scheme, refer a friend
  • Trust Pilot
    4 / 5
details

City Index UK LogoBest Beginner Forex Brokers = City Index

City Index is the best UK forex broker for beginner forex traders based on their low spread only account. Below compares City Index to comparable spread only CFD brokers that don’t charge a commission on trades. Not only does City Index have the lowest spreads but also a low minimum deposit of £100.

UK BrokerEUR/USD Spreads FromMinimum DepositMax Professional Leverage
City Index0.5£100400:1
Activtrades Plc0.5£1000400:1
Plus500 UK0.6£100300:1
IG Markets Limited0.6£250222:1
CMC Markets UK plc
0.7£0400:1
FXCM Ltd0.7‎£300400:1
Admiral Markets UK Ltd0.7€100500:1
Swissquote Ltd1.0€1000500:1
OANDA Europe Limited1.1€0100:1
FxPro1.2£100500:1
eToro (UK) Ltd3$200400:1

City index offers beginner forex traders with comprehensive forex training from beginner to advanced traders. This starts with an introduction for CFD traders and moves to advanced trading strategies. There are also webinars and videos to further enhance traders knowledge of forex markets.

City Index CFD Training

City Index has the Financial Conduct Authority Licence 113942 and the parent company is Gain Capital which is regulated in 8 jurisdictions. They have an online trading platform that’s ideal to use for beginner forex traders with the option of micro accounts with a minimum deposit from $0.

City Index

City Index are one of the largest CFD brokers in the UK. Offering a large range of products including indices, cryptocurrency and shares cfd, the broker is popular of its competitive spreads, proprietary and MetaTrader platforms, collection of in-house research tools and customer support. Spreads for EUR/USD begins at 0.5pips and don't have commissions.

MIN. AMOUNT
$0
MIN. SPREADS
0.5 pips
MAX. LEVERAGE
1:30
OUR BROKER RATING
7.17
  • Account Types
    Trader, Premium trader, Professional trader
  • Commission
    Yes (Shares CFD only)
  • Trade Sizes
    Mini-lots, Micro-lots, Standard-lots
  • Trading Instruments
    Commodities, Oil, Metals, Interest Rates, Options, Bonds
  • Trading Platforms
    Web trader, Mobile trading apps. AT Pro, MetaTrader 4
  • Deposit Methods
    Visa, MasterCard, PayPal, PayID, Electronic Funds Transfer
  • Funding Costs
    No
  • Regulation
    FCA
  • Customer Support
    24/5 - Live chat, Phone, Email
  • Education
    Available
  • Risk Management
    Standard risk features
  • Bonus Offers
    Monthly rebates (professional trader account)
  • Trust Pilot
    2 / 5
details

More About UK Regulation

All the forex brokers displayed on this United Kingdom page are locally regulated by the Financial Conduct Authority. The authority is independently formed by the government and funded by membership fees. Forex brokers are required to hold a minimum of £1 million in operating capital in the UK by the FCA. This increases based on a formula aligned to the number of traders an fx broker has. Other requirements include:

  • Segregating clients accounts from brokers so they can’t use it for operational expenditures
  • Processing instantly withdrawal requests.
  • Submitting to the FCA annual audited reports.
  • Submitted periodic statements that show capital holdings ensuring capital ratios requirements are met.
  • Meeting strict regulations for marketing and advertising their financial products
  • Resolving customer complaints mutually and allowing any failed resolution to be arbitrated by the UK financial ombudsman.

FSCSThe FCA has a compensation scheme to guarantee forex broker UK client funds. This is called the Financial Services Compensation Scheme (FSCS). The objective of the FSCS is to compensate CFDs traders when a broker has insolvency issues with protection up to £50,000. When a solvency issue occurs and liquidation occurs the FSCS provides CFDs traders with:

  • 100% of funds back up to £30,000
  • Up to 90% of funds back for amounts between £30,000 to £50,000

To make a claim a CFDs trader needs to make an insurance claim through the Financial Services Compensation Scheme website. Make sure the firm is listed on the FSCS website as compensation is only available when the body deems the broker’s assets are frozen or it’s in liquidation.

To avoid a scam broker it’s strongly recommended to choose a regulated broker. It may also be worth keeping up-to-date with the regulator’s website as recently a CFD like FXTM lost it’s Financial Conduct Authority licence in the United Kingdom.

FAQs For UK Forex Brokers

The best forex broker in the UK is Pepperstone based on their low fees including spreads from 0.0 pips, £2.29 commissions (£4.59 round turn) which can be further reduced through the active trader program, choice of MetaTrader 4, MetaTrader 5 or cTrader forex trading platform and award-winning customer service. Pepperstone has local offices in London, United Kingdom and trades in the UK as Pepperstone Limited under Financial Conduct Authority Registration Number 684312.

Beginner forex traders should consider City Index which offers both spread betting and CFD trading. The forex broker offers extensive forex training for beginners, a unique forex platform that allows Web Trading, mobile trading via iOs/Android Apps or a desktop platform that can be downloaded and the option to trade indices, shares, forex and crypto. City Index in the United Kingdom trades as GAIN Capital UK Limited with local offices in London with FCA registration number 113942.

The lowest spreads available is through the Pepperstone razor forex trading account. The average EUR/USD spreads are 0.0 to 0.3 pips with a commission of £4.59 round turn 100k traded. To further reduce trading costs, Pepperstone offers an active trader program for monthly trading above 200 lots with rebates on commissions starting from 15%.

The best forex trading platform is MetaTrader 4 which is also the most popular forex platform worldwide. While the platform isn’t the most visually appealing it does the fundamentals right. This includes a fast execution speed, ease of use and extensive automated trading feature and marketplace. Other leading forex platforms include MetaTrader 5 and cTrader.

FCA Forex Brokers

FCA Regulated Forex Broker List

Based on factors such as forex trading conditions, fees to customer service levels a list of recommended UK forex brokers regulated by the FCA was created.  This was last updated in November 2019 and is regularly updated based on CFD providers that gain or lose FCA regulation. Many brokers such as OANDA, XTB and their platform Xstation were considered in this review and may be featured on the UK forex broker comparison but didn’t make it to the broker review shortlist. They are though shown on the table below.

UK BrokerLicence NumberMinimum DepositMax Retail LeverageMax Professional LeverageEUR/USD Spreads FromTrustpilot Broker Reviews
Pepperstone LimitedFCA 684312£5030:1500:10.04.6/5 - 508 reviews
Swissquote LtdFCA 562170€100030:1400:11.02.6/5 - ‎10 reviews
eToro (UK) LtdFCA 583263$20030:1400:132.3/5 - ‎1,670 reviews
IG Markets LimitedFCA 195355£25030:1222:10.64/5 - ‎2,460 reviews
City IndexFCA 113942£10030:1400:10.51.9/5 - ‎60 reviews
Abshire-Smith Global LtdFCA 590890£50030:1200:10.8
Activtrades PlcFCA 434413£100030:1400:10.54.6/5 - ‎572 reviews
Admiral Markets UK LtdFCA 595450€10030:1500:10.73/5 - ‎9 reviews
ADS Securities London Limited
FCA 577453£10030:1500:10.9
AxiTrader UK
FCA 509746£030:130:10.23.8/5 - ‎9 reviews
City Credit Capital (UK) LtdFCA 232015$50030:1100:13
CMC Markets UK plc
FCA 173730£030:1500:10.74.6/5 - ‎573 reviews
DarwinexFCA 586466€50030:130:10.13.9/5 - ‎7 reviews
Delta Financial Markets LimitedFCA 534027€1030:1200:10.62.6/5 - ‎6 reviews
Equiti CapitalFCA 528328$50050:1500:10.43.3/5 - 3 reviews
ETX CapitalFCA 124721£10030:1200:10.64.2/5 - ‎87 reviews
FCI MarketsFCA 616985$100030:1400:10.2
FOREX.com UKFCA 113942£5030:1200:10.82.8/5 - ‎17 reviews
Formax Prime Capital (UK) LimitedFCA 624225£100030:1200:10.2
FXCM LtdFCA 217689‎£30030:1400:10.73.6/5 - ‎17 reviews
FXGiantsFCA 585561$10030:1500:10.53.2/5 - ‎3 reviews
FXOpen UKFCA 579202€30030:1500:10.33.9/5 - ‎5 reviews
FxPro UK LimitedFCA 509956£10030:1500:11.53.4/5 - ‎85 reviews
GKFXFCA 501320€10030:1400:10.62.8/5 - ‎3 reviews
Hantec MarketsFCA 502635€100030:1400:11.83.7/5 - ‎117 reviews
Hirose Financial UK LtdFCA 540244£2030:1100:11.9
House of Borse LimitedFCA 631382$500030:1200:10.3
HYCM LtdFCA 186171$10030:1200:11.82.9/5 - ‎21 reviews
ICM Capital LimitedFCA 520965£20030:1200:11.32.6/5 - ‎4 reviews
Ikon Finance LimitedFCA 525113$20030:1500:11.5
Interactive Brokers (UK) LtdFCA 208159£033:133:10.23.9/5 - ‎197 reviews
InterTrader LimitedFCA 597312£38030:1400:10.63.2/5 - ‎1 review
Kerford Investments (UK) LimitedFCA 193030$100030:1200:11.0
Key To Markets LimitedFCA 527809€10030:1500:10.1
London Capital Group (LCG)FCA 182110£030:1200:10.32.3/5 - ‎13 reviews
LMAX LimitedFCA 509778$100030:1100:10.33.9/5 - ‎3 reviews
OANDA Europe LimitedFCA 542574€030:1100:11.13/5 - ‎28 reviews
One Financial MarketsFCA 466201£030:1400:11.0
OneTradeFCA 537787£50030:1100:10.1
PhillipCapital UKFCA 169760£20030:1400:10.7
Plus500 UKFCA 509909£10030:1300:10.64.3/5 - ‎904 reviews
Price Markets UKFCA 725804$50030:1400:10.0
SVSFXFCA 220929$10030:1400:11.0
TempleFXFCA 447281£5030:1500:11.1
TeraFX UKFCA 564741$10030:1500:10.6
ThinkMarketsFCA 629628£030:1500:10.42.9/5 - ‎28 reviews
TickmillFCA 717270£10030:1500:10.14.5/5 - ‎116 reviews
Valbury Capital LimitedFCA 540418$1500030:1100:10.3
Valutrades LimitedFCA 586541£030:1500:10.0
Vantage FXFCA 590299£20030:1500:10.03.7/5 - ‎7 reviews
VARIANSEFCA 802012£50030:1400:10.0
XTB LimitedFCA 522157£25030:1500:10.14.3/5 - ‎145 reviews

CFDs + Spread Betting involves complex instruments which combined with leverage can lead to a high risk of a trader losing money rapidly. A high percentage of retail investor accounts depending on the forex broker lose money when engaging in CFDs. It’s critical to understand how CFDs, forex trading and spreads betting work. Make sure that you understand the risks of CFDs and spread bets and can afford to lose your money when trading.