Compare trading platforms, products, account types and costs and more

Why Compare Forex Brokers Before Trading?

As a UK trader, whether you are a beginner or an experienced trader, there are a number of considerations to make when selecting a Forex and CFD broker.

1. Broker Fees

There are two major broker fees to consider: spreads and commissions. As the difference between the bid and ask price, spreads are an inescapable trading cost that varies from broker to broker. We analyse both the published spreads on a broker’s website as well as test the average spreads of top broker’s ourselves, for both no-commission and commission-based accounts. Commission is the second major fee a broker charges, a standard account includes the commissions in the spreads while a RAW-style account has the commission outside the spread. The industry average commission for a RAW-style account is USD $6 or $7 round turn, per standard lot trade, depending on your base currency. Again, we always aim to pick the broker with the lowest broker fees, combining spread and commission costs.

2. Trading Platform

A broker can offer either a third-party platform or its own, proprietary software. Popular third-party platforms include MetaTrader 4, MetaTrader 5, cTrader and TradingView. Many of the top brokers offer their own in-house trading platforms, such as IG, eToro and We try to pick a balance of brokers that offer either third-party or proprietary platforms, or both, to take into account a trader’s platform preferences. Lastly, we also consider specialist platforms, commonly used for charting, algorithmic or social/copy trading purposes. These include popular platforms such as DupliTrade, Zulu Trade and Pelican.

3. Broker Performance

A broker’s performance is affected by the technology it has access to, which can affect everything your trading costs, from execution speed and spreads to trading platforms. Based on this, our team has tested the execution speed of the top brokers using MT4 to measure not only which brokers are the fastest, but which brokers perform the best from a platform, liquidity and server point of view.

4. Trading Conditions

Regulators play a big role in determining the trading conditions a broker can offer. In the UK, brokers are regulated by the Financial Conduct Authority (FCA). The FCA determines factors such as maximum leverage for retail traders (30:1 for major currency pairs) and the operational rules the broker must follow. As a UK trader, one benefit of trading with an FCA-regulated broker trader is having access to spread betting, which some UK brokers offer.

We have tested the trading conditions of top FCA-regulated brokers to determine which brokers perform the best. Some key variations of broker trading conditions include minimum deposit requirements and additional fees such as funding costs. As always, it’s important to practice trading on a demo account before opening a live account.

5. Range Of Markets

All top UK brokers offer the major 6 major USD base currency pairs. Then there are the minor pairs and exotic pairs. After that, the range of markets a UK broker offers can vary from broker to broker. We always try to consider brokers with the best all-round range from share CFDs, commodities, indices and even complex derivatives such as ETFs. Unfortunately, UK traders can’t trade cryptocurrencies due to recent changes prohibiting FCA-regulated brokers from offering crypto CFDs.

forex brokersBest FCA-regulated Brokers

Choosing a regulated forex broker is important as a trader for the protection of your funds and dealing with a legitimate broker that offers financial services in your country. The Financial Conduct Authority (FCA) is a top global regulator and the main financial regulatory body in the UK. As a UK trader, you have the benefit of many trustworthy, FCA-regulated brokers to choose from.

UK clients can choose from top forex brokers including Pepperstone, CMC Markets and Eightcap. To narrow your search down further, each broker has a unique competitive advantage that sets it apart from other brokers. Whether you focus on low spreads, spread betting or copy trading, there’s a broker for everyone, based on your trading preferences.

Our team has researched all the top brokers that are FCA-regulated and come up with our best forex brokers in the UK review.

low spread fx broker

Lowest Spread Forex Brokers

Choosing a forex broker with low spreads is a major cost consideration for UK traders. This is because forex trading involves many costs, including commissions and other fees, that all add up. By choosing a broker with low spreads, you will greatly reduce your overall trading costs.

The spreads that most brokers offer tend to be variable, which means they can widen during high volatility, resulting in higher spread costs for you. Factoring in commissions and other fees only increases the amount you are paying per trade. While there are forex brokers that offer zero commissions, these market-makers generally have wider spreads to factor in for the lack of commissions.

This makes your decision hard to pick a low-spread UK forex broker. For all this reason, the team at CFB has extensively researched and come up with the Lowest Spread Forex Brokers in the UK for you.

Spread Betting Brokers

Best Spread Betting Brokers

Spread betting is a unique form of financial trading that is only available to UK traders. This means that only a broker that is regulated by the FCA in the UK, can offer spread betting to clients. The benefits of spread betting include no capital gains tax (CGT) and the use of leverage (or margin) to increase your exposure to the markets and profit potential.

From an already exclusive list of brokers, it’s still important to choose your spread betting broker wisely. Each broker that offers spread betting has a feature that stands out, from spread betting platforms for beginners to risk management tools. Top spread betting brokers available to UK clients include AvaTrade, City Index and Pepperstone.

With so many good brokers to choose from, this is why we have put together a list of the best spread betting brokers in the UK so you don’t have to.

Forex Trading Apps

Best Forex Trading Apps

Having the best forex trading platform is vitally important to improve your overall trading experience. In today’s tech-heavy landscape, many brokers offer forex trading apps for those of you who like to trade on the go. Not all trading apps are created equally and some are better than others.

Important features to look out for in a mobile trading app include ease of use, trading tools available and range of tradeable markets. Some brokers offer third-party trading apps as well as their own, proprietary apps, while some offer both. A good mobile app should, however, make your life easier as a trader, not simply be there to supplement a broker’s main trading platforms.

To help you decide, the expert team at Compareforexbrokers has researched and reviewed the top UK Forex Trading Apps for you.

forex trading platforms UK

Trading Platforms In UK

Choosing the right forex trading platform is essential to have a great user experience. Factors such as an intuitive interface, reliability and useful trading tools are key. While MetaTrader 4 is the most popular forex trading platform in the market, there are plenty of other great platforms. These include proprietary platforms that a broker has developed in-house (E.g. or other third-party platforms like cTrader or MetaTrader 5, MT4’s upgrade.

After you’ve chosen the right trading platform for you, it’s then vitally important to choose an appropriate forex broker. This is because of additional features like account types, charting tools for technical analysis and social trading and copy trading tools that the broker offers.

For this, you can check out our best UK trading platforms which include brokers such as IG, Interactive Brokers and Oanda.

automated trading software uk

Best Automated Trading Platforms

With the rise of algorithmic and bot trading, there are many great automated forex trading solutions out there. You can choose Expert Advisers using MetaTrader 4 (or MT5) or platforms specifically designed for automated trading. The best brokers offer solutions that cater to both audiences.

Generally suited for more experienced traders, trading robots amplify the effects of manual trading, increasing profit potential and the amount you can trade. There are also brokers such as eToro, that offer social and copy trading solutions to mirror successful trading strategies. All of the best automations can pick out trading opportunities that a human couldn’t, by analysing a huge amount of data at a faster speed.

Our best-automated trading platforms in UK list has all the best brokers that offer these automated trading solutions.

UK Methodology for Broker Reviews

Being a UK trader, you have a lot of trading considerations to make when choosing the right broker. While this is no small task, the expert research team at Compareforexbrokers has its finger on the pulse, testing and reviewing all the top brokers in the industry. Major factors we have considered include:

  1. Trading Accounts (retail investor accounts)
  2. Trading Costs (spreads + other fees)
  3. ECNs (commission-based) vs Market Makers (no commissions)
  4. Trading Platforms
  5. Social/Copy/Algorithmic trading tools
  6. Financial Instruments
  7. Customer Support
  8. Regulations

These are the primary factors that we know are most important to you as a trader. There are also many secondary factors including risk management features and educational materials. Risk management could refer to order types that help prevent negative slippage such as a guaranteed stop loss order (GSLO). It could also refer to features such as Negative Balance Protection, which some brokers offer to prevent your account balance from going into negative territory. The educational materials a broker may offer can help improve your knowledge as a trader with insightful market research, educational videos or interesting articles.

These pages are all UK-focused, so we have focused on brokers that regulated by the FCA (Financial Conduct Authority), the main UK regulator. However, a lot of these brokers have multiple regulators, meaning they offer trading services in multiple countries or regions. Other regulators a UK broker may have subsidiaries in include ASIC in Australia, CySEC in Cyprus and FSCA in South Africa.
As UK trader, we recommend choosing a broker regulated by the FCA. However, there are many popular brokers that are not. Some top brokers that aren’t regulated by the FCA include FP Markets, Saxo Bank and VT Markets.

While we focus largely on FX trading, we also cover CFD trading. As a forex trader, we know this doesn’t exclude you from trading CFDs too. We also try to pick the best broker in that particular category, even if it may not be the best at everything. There could be a particular currency pair, trading platform or copy trading tool that the broker specialises in.

When writing our UK broker reviews, we are always honest in our information, highlighting both the pros and cons of that broker. Having said this, please be aware that all information is general in nature and not to be treated as trading advice. We recommend you do your own research before making a final decision when choosing a broker.

Understanding the Risks of Forex Trading

Foreign exchange and CFD trading involve a lot of risks. This is especially true when trading on margin, and particularly using leverage. The higher leverage you use, the more market exposure you have and the more you can lose. For beginner traders, it’s especially important you manage your exposure so you don’t risk losing more than you can afford.

The maximum retail leverage in the UK is up to 30:1 for foreign exchange. For minor currency pairs, it’s 20:1. While you can gain more exposure and potentially boost your profits, it also opens up your downside risk if the market goes against you. As such, before you start trading, it’s important to educate yourself about leverage and gain some trading experience first. Implementing risk management tools, such as a stop-loss order, will also help prevent big losses. The forex market can be highly volatile and it’s important to trade forex responsibly.

Additionally, given how popular online CFD and FX trading are today, there are plenty of sharks out there waiting to take advantage of inexperienced and naïve traders. This makes it all the more important to choose a trustworthy broker, particularly one that is regulated in the UK. That way, you will avoid scams from unethical brokers who may pose as legitimate advisors offering their services to profit illegally. So before you sign up and trade forex with a potential broker, make sure it is regulated by the FCA in the UK.

Our Methodology For United Kingdom Broker Reviews

Navigating the volatility and risk inherent in financial markets is hard enough as it is. is here to make it easy for you. The CFB team has writers with years of experience with a keen sense of detail. Key features we analyse when considering the best brokers include:

  1. Trading Accounts
  2. Trading Costs (including spreads + commissions)
  3. Trading Platforms (proprietary and third-party)
  4. Social and Copy Trading tools
  5. Trading Products
  6. Minimum Deposit and Funding Methods
  7. Regulations

Then there are additional considerations such as risk management tools and execution types. Risk management tools include order types such as guaranteed stop losses that prevent a trader from losing too much on a trade due to slippage. Or even Negative Balance Protection, which protects a trader’s account from going into negative territory. Trading execution types are whether a broker offers no dealing desk (NDD), STP or ECN trading or whether they are a market maker. This will affect the spreads a broker can offer due to access to liquidity pools and the speed of execution.

These pages are all UK focused, so we have only chosen brokers regulated by the FCA. However, some of these brokers are multi-regulated, meaning they offer services to traders in different countries. Common subsidiaries that brokers we have reviewed are regulated by may include ASIC in Australia, CySEC in Cyprus and FCA in the UK. Also, forex prop trading doesn’t require regulation

In every Forex broker review for traders based in the UK, we are honest in our information, with the pros and cons of each broker. One thing we don’t do, however, is give trading advice so please note that all information is general in nature.

Understanding the Risks of Forex Trading

Forex and CFD trading is inherently a high-risk venture. This is particularly true when trading on margin, and especially using leverage. The more leverage you expose yourself to, the more you can lose. For inexperienced traders, it’s doubly important to manage your exposure so you don’t risk losing more than you can afford.

The maximum leverage on offer for United Kindom forex brokers is up to 30:1 for retail traders. While this provides more flexibility when trading, it also opens up your downside risk should a trade go against you. As such, when opening an account, it’s vital to look carefully at the leverage on offer and also uses the online broker resources to better educate yourself.

Additionally, with the increasing popularity of CFD and forex trading, it’s essential to only trade with a trusted and reputable broker in the UK This is to avoid scams from unethical companies that may pose as legitimate advisors offering their services to profit illegally. So before you sign up with a potential broker, make sure it is regulated by the FCA in the United Kingdom.

Understanding The Risks of Forex Trading

Disclaimer: Leveraged instruments are risky. Do your own research before trading on margin or with leverage. Trading with leverage is at your own risk.

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