Brokers Where We Opened a Live UK Account
Opening an account with a forex broker should be a straightforward process. We opened a live UK account, funded it in pounds, and traded on it at the 27 brokers below:
- Admirals
- ATC Brokers
- Axi
- Capital.com
- City Index
- CMC Markets
- Eightcap
- eToro
- FOREX.com
- FXCM
- FxPro
- HFM
- HYCM
- Interactive Brokers
- IG
- OANDA
- Pepperstone
- Plus500
- Saxo
- Spreadex
- Swissquote
- ThinkMarkets
- Tickmill
- Trade Nation
- Trading 212
- Vantage
- XTB
US Account Opening and Funding Research
Our team opened live US accounts at three brokers between September 23 and 28, 2026: OANDA Corporation, GAIN Capital Group LLC (FOREX.com), and tastyfx, LLC. These applications sit outside our 27 live UK accounts, which were funded in pounds and traded. Each US record below is a single dated application, and the overall workflow is still unfinished.
| Broker and US entity | Observation date | Approval and verification observed | ACH funding observed |
|---|---|---|---|
| OANDA (OANDA Corporation) | September 23, 2026 | Instant approval, no ID document upload requested | US$200 deposited via Plaid; US$100 available immediately as an ACH advance, remaining US$100 subject to a stated wait of up to five business days |
| FOREX.com (GAIN Capital Group LLC) | September 24, 2026 | Approval immediately after the final agreement, no ID document upload or selfie requested | US$250 deposit request received via Plaid, confirmed in our inspected screenshot; funded status recorded in the account tracker |
| tastyfx (tastyfx, LLC) | September 28, 2026 | Submitted 1:09 pm Pacific, approved 1:10 pm, no ID document upload or selfie requested | US$200 deposited via Plaid, full US$200 immediately available for trading |
Approval speed and available funds are two different checks, and our records show they can diverge. OANDA approved this application instantly, yet only half the deposit was available straight away, while the tastyfx record shows the full amount immediately available. These are single observations, so I would not assume every applicant skips ID uploads or sees the same turnaround. Our overall workflow is unfinished, with no completed withdrawal and no systematic US spread or execution-speed panel established, so before you apply, compare each broker's account requirements and funding availability against your own timeline.
Why does ease of account opening matter?
Before you can trade, a regulated broker must verify your identity and address, and check that you understand the products (the appropriateness or knowledge test). A clear signup explains account types, pricing, and platform access, while a muddled one can leave you chasing support before your first trade. In my opinion, clarity matters more than speed at this stage, because the checks exist to protect you.
What to Check When You Open an Account
At compareforexbrokers.com, we believe the right approach to opening an account with a new forex broker is to start with a demo account. This allows you to get to know the broker, hopefully getting some nice emails from an account manager, and allows you to back-test any automations you might want to use. With a demo account, you can do all this in a safe environment where you can’t lose any money. These are the questions I would ask any broker before opening an account:
- Does the broker assign you an account manager?
- Does the broker send an email with a link to upgrade to a live account?
- Is the appropriateness or knowledge test standard, or is it more difficult?
- Does the broker request standard personal information, or ask for data it does not need?
- Does the broker require a tax identification number, such as a Tax File Number in Australia?
- Does the broker require a W-8 BEN (for United States tax purposes)?
- Is proof of ID built into the signup, or is it a separate step?
- Is proof of residency built into the signup, or is it a separate step?
- Does the broker require signed contracts?
- Is a deposit required to open the account?
- Are the different account types explained clearly enough to make choosing one easy?
- Is your own currency offered as a base currency?
- Does the account offer the retail leverage limit your regulator sets?
- Is negative balance protection offered and explained?
- Are your MT4 credentials delivered by email, or do you have to go hunting for them?
- Are additional touchpoints (online chat, help desk, or emails) required to complete the process?
- Do you run into any errors during the process?
- How long does the broker say it takes to open an account?
Articles for other tests we have done
- Execution Speeds of Forex Brokers
- Testing of Standard Account Spreads
Next Up
Here’s a quick view of our pipeline of testing:
- Comparing order execution speeds on live accounts
- Comparing cost of trade on fixed commission (“Raw”) accounts
- Slippage monitoring across different brokers and currency pairs
- VPS latency testing on VPS configurations provided directly by brokers, and by 3rd Party providers
FAQs
How much money do you need to start trading forex?
What should you consider when opening an account?
What type of account should i open?
About the author
Justin Grossbard is the Co-Founder and CEO of CompareForexBrokers, which he established with Noam Korbl in 2014. He has over 20 years of professional experience in online marketing and holds a Master's in Marketing from Monash University.
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