Forex brokers / currency brokers are a mainstay in the UK trading landscape. Whilst there are some clear leaders in the space, there are also some broker who simply don’t meet the standard required. Let’s dive in.
Best Forex Brokers & Platforms for UK Traders
If you’re looking to dive into forex trading in the UK, you’ve come to the right place. Whether you’re a complete beginner or a trader with some experience under your belt, finding the right forex trading platform in the UK can make all the difference. With forex markets buzzing 24 hours a day, five days a week, and offering unparalleled liquidity and flexibility, your choice of broker can impact everything from your profits to your sanity.
Lucky for you, we’ve done the heavy lifting. We’ve tested platforms, explored spreads, traded currency pairs, and (yes) even contacted customer support to bring you this comprehensive guide. Let’s break down the best UK forex brokers to help you find your perfect match.
Which Platform is Best for Forex Traders in the UK?
Our favourite trading platform for UK traders is Forex.com due to it’s low currency spreads, variety of trading platforms (TradingView, MT4 & MT5), it’s fantastic web trader platform and great educational resources for beginners and advanced traders like – this combination is almost perfect for UK traders. However, every trader has different needs so here’s a quick breakdown to help you decide which is best for you:
| Image | Best For | Unique Features | Join / Read Review |
 | Best Overall Forex Broker | Great proprietary platform, FCA regulation and educational content makes it a top choice. | |
Pepperstone  | Versatility and low-cost forex | Offers MT4, MT5, cTrader, TradingView, and razor-thin spreads. | |
IG  | Extensive forex market access | Over 90 currency pairs and powerful in-house trading tools with MT4 support. | |
EightCap  | Technical analysis via TradingView | TradingView integration and spreads from 0.0 pips on forex majors. | |
City Index  | Beginners with a solid forex range & spread betting | 80+ forex pairs and a user-friendly platform with excellent educational content. | |
Vantage  | Multi-platform flexibility | MT4, MT5, and TradingView support with a low deposit threshold and Raw account option. | |
XTB  | In-depth educational resources | IG Academy with step-by-step trading courses and access to 17,000+ markets. |
What Makes a Great Trading Platform for Beginners?
Before we dive into the rankings, let’s quickly highlight what separates a mediocre forex broker from a great one:
- Spreads and Fees: The lower, the better. Tight spreads can save you a lot over time, especially if you trade frequently.
- Range of Currency Pairs: Does the broker offer a wide selection of forex pairs? Majors like EUR/USD are great, but having minors and exotics can open more opportunities.
- Trading Platforms: Is it user-friendly? Does it support advanced charting tools like TradingView or popular platforms like MetaTrader 4 and 5?
- Execution Speed: No one likes slippage. Fast execution speeds mean your orders get filled at the price you want.
- Regulation and Trust: In the UK, the Financial Conduct Authority (FCA) is the gold standard. FCA regulation means you’re dealing with a broker that follows strict rules to protect traders.
With those criteria in mind, here’s how our favourite brokers stack up for forex trading in the UK.
Best Forex Trading Platforms Ranked
After months of rigorous testing, putting all these brokers through their paces both in terms of their quality and speed as well as overall user experience. We have crowned our winner of Best Trading Platform for UK Forex Traders and the winner is Forex.com.
1. FOREX.com: Best Overall for Forex Traders
If you’re looking for a broker that ticks all the right boxes, FOREX.com stands out as the go-to choice for UK forex traders. It has one of the largest selections of over 80+ currency pairs (all majors and minors), laid out in a simple, easy-to-use and intuitive but powerful web platform. They also offer a range of different platforms (Tradingview, MT4, MT5) for traders who like using 3rd party platforms intuitive platforms and are, of course, heavily regulated across a variety of different jurisdictions.
Forex.com: Best Overall Forex Platform
If you’re looking for a robust, user-friendly broker that caters to all skill levels, Forex.com deserves your attention. With competitive spreads, advanced tools for experienced traders, and a seamless experience for beginners, Forex.com is a standout for UK forex traders.
Why UK Forex Traders Love Forex.com
Forex.com combines beginner-friendly features like straightforward account setups and competitive spreads with advanced tools like TradingView, making it a go-to for traders of all levels.
Cost of Trading Forex on Pepperstone
Forex.com offers spreads starting as low as 0.8 pips on major pairs like EUR/USD with no additional commissions on standard accounts.
How Many Currencies Can you Trade on Pepperstone?
Forex.com has over 80 currency pairs, including majors, minors, and exotics (think SGD/MXN), so you’ll be covered whatever you want to trade.
What Platforms are Available for Forex Traders ?
Forex.com supports MT4, MT5, and a proprietary Advanced Trading Platform (it’s one of the best web trader platforms we’ve tried…), alongside TradingView integration for those who thrive on charting and analysis.
How Fast Are the Forex Execution Speeds?
Quick… ultra-low latency and a no-dealing-desk (NDD) execution model, they pretty much guarantee your trades execute at market prices with minimal slippage.
Key Features for Forex Trading on Forex.com
- Regulation: FCA-regulated (and regulated by multiple other jurisdictions worldwide), ensuring your funds are secure and trading conditions are fair.
- Leverage: Up to 30:1 for retail clients under FCA rules.
- Tools and Education: Access to trading guides, live webinars, courses, and lots more.
Summary
Forex.com strikes a perfect balance between beginner-friendly simplicity and advanced trading features. With spreads starting from 0.8 pips, over 80 currency pairs, and robust trading tools from their fantastic web trader tool to 3rd party platforms like TradingView & Metatrader, Forex.com has thought of what every FX trader needs and accommodated.
If you’re ready to start your trading journey or switch brokers, Forex.com is an excellent choice for UK forex traders.
£500 Recommended Deposit
Best for Forex
Forex.com is a leading FX & CFD trader in the UK for good reason, backed by StoneX group, trading with them feels fun and enjoyable.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. Pepperstone: Best Range of Trading Platforms
With an exceptional range of platforms cTrader, TradingView, MT4 & MT5 – Pepperstone is a great forex trading platform for beginners and pros alike. Offering 60+ forex assets may not be the most diverse on our list (see IG for that), but overall the speedy execution, the low spreads on their Razor account, helpful customer service and a diverse range of platforms makes this a top broker for forex trading in the UK.
Pepperstone: Range of Trading Platforms
If forex is your game, Pepperstone is your home turf. Known for its low-cost trading and exceptional execution speeds, this broker ticks all the boxes for UK traders looking to conquer the currency markets.
Why UK Forex Traders Love Pepperstone
Cost of Trading Forex on Pepperstone
On the Razor account, forex spreads start as low as 0.0 pips on major pairs like EUR/USD. Even the Standard account offers highly competitive spreads (starting at 0.6 pips), perfect for traders who want to avoid commissions.
How Many Currencies Can you Trade on Pepperstone?
Over 60 pairs, including majors, minors, and exotics, there’s something for every trading strategy.
What Platforms are Available for Forex Traders ?
Whether you’re an MT4 or MT5 fan, prefer cTrader, or want to integrate with TradingView, Pepperstone gives you the flexibility to trade how you want.
How Fast Are the Forex Execution Speeds?
Thanks to their No Dealing Desk (NDD) model, trades are executed super quickly, making it ideal for scalpers and high-frequency traders.
Key Features for Forex Trading on Pepperstone
- Leverage: Up to 30:1 for retail clients under FCA rules.
- Tools and Education: Access to Autochartist, live webinars, and forex trading guides to sharpen your skills.
- Regulation: FCA-regulated, so your funds are segregated and protected.
Summary
Pepperstone is a great all-rounder for forex traders in the UK, offering ultra-tight spreads starting at 0.0 pips on the Razor account and a fantastic platform selection, including MT4, MT5, cTrader, and TradingView. With lightning-fast execution speeds through its No Dealing Desk (NDD) model and a focus on transparency, Pepperstone caters perfectly to both beginners and seasoned traders. While it lacks the largest range of exotic forex pairs, its combination of low fees, educational resources, and flexibility make it the top choice for UK forex traders.
If you are interested trading currencies on Pepperstone, feel free to review our Pepperstone Trading Broker review or check them out yourself using the link below.
£500 Recommended Deposit
Best Platforms
Pepperstone is a Melbourne-based broker that offers an excellent range of assets in the financial trading markets, including CFD's for commodities, shares, ETFs and more.
75.5% of retail investor accounts lose money when trading on margin with this provider
3. IG: Largest Forex Market Access
When it comes to reputation, IG stands tall as one of the oldest and most established brokers in the UK. But longevity isn’t the only thing it has going for it—IG offers an unmatched combination of educational tools, advanced trading platforms, and a massive selection of 90+ forex pairs to trade. If you’re serious about forex trading, IG is a powerhouse that can take you from beginner to pro.
IG: Great for Intermediate to Advanced Traders
If you’re looking for a forex broker that doubles as a trading coach, IG is your best bet. The wealth of educational resources combined with its robust forex offering makes it ideal for traders aiming to up their game.
Why UK Forex Traders Love IG
With the largest range of forex pairs on this list and an award-winning platform, IG is perfect for experienced traders looking for advanced tools and analysis.
Cost of Trading Forex on IG
Forex spreads start at 0.6 pips on major pairs like EUR/USD, with no hidden commission fees on their standard accounts.
How Many Currencies Can You Trade on IG?
IG offers an impressive 90+ forex pairs, including all the majors, minors, and a wide range of exotics for the adventurous trader.
What Platforms are Available for Forex Traders?
IG’s proprietary platform is highly customizable, and they also offer MetaTrader 4 for traders who prefer a classic interface. TradingView compatibility is also available.
How Fast Are the Forex Execution Speeds?
With ultra-low latency, IG ensures your trades execute seamlessly, even during high volatility events. They do have quicker options on their ProRealTime and L2 Dealer platforms for pro traders
Key Features for Forex Trading on IG
- Regulation: FCA-regulated, with negative balance protection and segregated funds.
- Leverage: 30:1 for retail clients, and higher for professionals.
- Tools and Education: IG Academy offers in-depth courses and live market analysis.
Summary
IG stands out as a (super) heavyweight in the forex world, offering an unmatched 90+ currency pairs, award-winning platforms, and stellar educational resources via IG Academy. Whether you’re diving into exotics or sticking with major pairs, IG’s customisable proprietary platform and TradingView compatibility ensure an excellent trading experience. While the £250 minimum deposit might deter some beginners, IG is perfect for traders ready to commit and benefit from its expansive features and FCA-backed security.
£500 Recommended Deposit
Best Overall
IG offers 17,000+ trading instruments and combines robust regulation with cutting-edge platforms like ProRealTime, TradingView, and L2 Dealer.
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4. EightCap: Best for TradingView and Forex Charting
If you’re someone who loves digging into charts and analysing every pip of movement, EightCap is your go-to broker. Their seamless integration with TradingView sets them apart as a favourite for technical traders. With 40+ forex pairs to trade, it’s not a huge selection but EightCap more than makes up for it with their ease-of-use and setup.
EightCap: Best for TradingView Charting
EightCap’s TradingView integration and focus on charting tools make it ideal for forex traders who rely on technical analysis for their strategies.
Why UK Forex Traders Love EightCap
EightCap’s TradingView integration and low-cost spreads make it the go-to choice for UK Forex traders who prioritise technical analysis.
Cost of Trading Forex on EightCap
The Standard account (the FCA licensed broker that UK traders have access to) has commission-free trading with spreads starting at 1.0 pips on pairs like EUR/USD.
How Many Currencies Can You Trade on EightCap?
EightCap offers over 40 forex pairs, covering the most popular majors, minors, and exotics.
What Platforms are Available for Forex Traders?
Choose from TradingView, MT4, or MT5, depending on your trading style and analytical needs.
How Fast Are the Forex Execution Speeds?
EightCap delivers reliable (and speedy) execution speeds thanks to its direct market access model, which minimizes slippage.
Key Features for Forex Trading on EightCap
- Leverage: Up to 30:1 for retail traders under FCA rules.
- Tools and Education: TradingView integration ensures advanced charting tools at your fingertips.
- Regulation: Regulated by ASIC and FCA, with segregated funds for client safety.
Summary
If charting and technical analysis are your priorities, EightCap is the broker for you. Its seamless TradingView integration, makes it ideal for forex traders keen on visualising every market move. With competitive spreads starting at 1.0 pips and a low £100 minimum deposit, EightCap simplifies forex trading for UK traders. While the range of 40+ pairs isn’t the broadest, the advanced charting capabilities more than make up for it, offering a streamlined experience for technical traders.
£200 Recommended Deposit
Best TradingView
EightCap is our favourite TradingView broker for CFD trading. No spread betting yet, but great for CFD trading on TradingView.
70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5. City Index: Best for Forex Spread Betting
If you’ve ever wanted to trade forex tax-free in the UK, then City Index might be your best bet. With a huge range of 80+ forex pairs to trade, a great trading platform user-experience and access to forex spread betting options, City index is a leading UK trading broker for spread betting.
City Index: Forex Spread Betting & Beginners Favourite
City Index is one of the best brokers around in the UK – truly one of the ‘best in Bright’Best in British’ category with access to spread betting and CFD trading as well as 13000+ instruments to trade, it’s a mainstay of British trading.
Why UK Forex Traders Love City Index
City Index combines an easy-to-use platform with tight spreads and a great selection of forex pairs, making it ideal for beginner traders.
Cost of Trading Forex on City Index
Spreads start from 0.8 pips on major pairs like GBP/USD and EUR/USD, with no additional commissions on their standard accounts.
How Many Currencies Can You Trade on City Index?
City Index offers access to 80+ forex pairs, from the most popular majors to a solid selection of exotics.
What Platforms are Available for Forex Traders?
City Index’s proprietary Web Trader platform is intuitive and beginner-friendly. MT4 is also available for more experienced traders.
How Fast Are the Forex Execution Speeds?
City Index uses advanced technology to ensure fast and reliable trade execution across all its platforms.
Key Features for Forex Trading on City Index
- Regulation: Fully FCA-regulated with negative balance protection.
- Leverage: Up to 30:1 under FCA regulation.
- Tools and Education: City Index Academy offers tutorials, webinars, and strategy guides.
Key Features for Forex Trading on City Index
- Regulation: Fully FCA-regulated with negative balance protection.ay fall out of love with it, I’m afraid you might just want to stick with it to get access to your brokers favourable spreads.
- Leverage: Up to 30:1 under FCA regulation.
- Tools and Education: City Index Academy offers tutorials, webinars, and strategy guides.
Summary
City Index is a trusted name in the UK forex market, known for its stellar spread betting options and intuitive platforms. Offering 80+ currency pairs and tight spreads starting from 0.7 pips, City Index caters to both beginners and advanced traders. Its proprietary Web Trader platform is a breeze to use, while MT4 is available for those wanting more advanced tools. With FCA regulation and educational resources through City Index Academy, this broker ensures a safe, informative, and rewarding trading experience.
£500 Recommended Deposit
Best to Spread Bet
City Index is a historic spread betting & CFD Trading brand in the UK, backed by StoneX group, a publicly traded broker in the UK.
Spread Bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6. Vantage: Best All-Rounder
You can think of Vantage Markets as Pepperstone ‘Lite’, they allow for awesome platform flexibility including TradingView, MT4 and MT5 and they have over 44 forex pairs to trade making it a decent selection but by no means the widest on this list. They are a truly decent all-rounder and provide a fantastic ‘starter pack’ for beginner forex traders in the UK.
Vantage: Powerful and Beginner-Friendly
Only 40+ forex pairs to trade, but packs a decent punch with all of the functionality and different platforms options – we’d categorise Vantage Markets as a ‘must-try’ for UK traders.
Why UK Forex Traders Love Vantage
Vantage combines tight spreads, a low minimum deposit, and platform versatility, making it an excellent choice for budget-conscious forex traders.
Cost of Trading Forex on Vantage
Forex spreads start at 1.0 pips on the Standard account (commission-free) and as low as 0.0 pips on the Raw ECN account, which charges a £5 commission per round lot traded.
How Many Currencies Can You Trade on Vantage?
Vantage offers over 40 currency pairs, including major, minor, and exotic pairs, catering to a wide range of trading strategies.
What Platforms are Available for Forex Traders?
Vantage supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView, providing something for every type of trader.
How Fast Are the Forex Execution Speeds?
Vantage offers rapid execution with minimal slippage through its ECN model, ideal for traders relying on speed and accuracy.
Key Features for Forex Trading on Vantage
- Leverage: Up to 30:1 for retail clients under UK regulations.
- Tools and Education: Access free market analysis, trading webinars, and tutorials to enhance your forex trading skills.
- Regulation: FCA-regulated, with secure fund segregation and negative balance protection
Summary
Vantage is the ‘jack-of-all-trades’ in the forex world. Offering compatibility with MetaTrader 4, MetaTrader 5, and TradingView, Vantage caters to traders of all preferences. Add in its low minimum deposit and competitive spreads, and you’ve got a broker that’s accessible, versatile, and highly dependable. Feel free to check out our review or visit their website using the link below.
£500 Recommended Deposit
Best for Service
Vantage Markets in a seasoned provider of both CFD & Spread Betting tools with a range of over 1000+ instruments to trade
70.5% of retail investor accounts lose money when trading CFDs and Spread Bets with this provider.
7. XTB: Best Proprietary Platform for Forex
This is a gamechanger and I never thought I’d be saying this, because up until 2 years ago I hadn’t heard of them, but wow, XTB is frankly one of the best brokers available to UK forex traders. They provide an excellent proprietary platform, a great range of 70+ forex pairs and great, low spreads.
XTB: Unique but Exceptional Trading Platform
As a publicly-listed trading broker and one of the top brokers worldwide, XTB is simply not getting the recognition it deserves when it comes to excellence in trading. That might be down to the lack of other platform options (no TradingView, MT4 or MT5) but their proprietary platform is something to behold.
Why UK Forex Traders Love XTB
XTB is a beast when it comes to their educational resources and beginner-friendly xStation 5 platform, making it a top choice for traders who want to grow their skills while trading.
Cost of Trading Forex on XTB
Forex spreads start from as low as 0.1 pips on major pairs like EUR/USD, with no additional commissions on standard accounts.
How Many Currencies Can You Trade on XTB?
XTB offers an extensive range of 48 currency pairs, ensuring plenty of options for both conservative and adventurous forex traders.
What Platforms are Available for Forex Traders?
The proprietary xStation 5 platform provides a sleek, intuitive interface packed with tools for forex analysis. A mobile version ensures seamless trading on the go.
How Fast Are the Forex Execution Speeds?
XTB ensures speedy execution with a fantastic platform trading experience that experiences minimal slippage – hence why they might be reluctant to change it.
Key Features for Forex Trading on XTB
- Regulation: Fully FCA-regulated, ensuring client fund safety and compliance with UK standards.
- Leverage: Up to 30:1 for retail traders, ensuring compliance with FCA regulations.
- Tools and Education: XTB’s Trading Academy offers webinars, tutorials, and strategy guides directly accessible from the platform.
Summary
XTB’s proprietary xStation 5 platform is a powerhouse, making it one of the best choices for UK forex traders. Offering low spreads from 0.1 pips, a selection of 48 currency pairs, and a user-friendly mobile app, XTB caters to traders who value ease of use without compromising on tools. Its extensive educational content via XTB Academy ensures traders grow alongside their investments, making it a standout option for those seeking a seamless forex trading experience.
£250 Recommended Deposit
Best for Investing
XTB offers a proprietary platform with incredible trading resources & educational material in an easy-to-use, low cost trading environment. Perfect for currency traders.
76% of retail investor accounts lose money when trading CFDs with XTB Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our Final Thoughts / Recommendation
Choosing the best forex trading broker can feel overwhelming, but each of these options brings something unique to the table.
For those seeking the best overall experience, Pepperstone’s unbeatable combination of low spreads, diverse platforms, and rapid execution speeds makes it a clear winner.
If market variety is your priority, IG’s vast selection of 90+ forex pairs and advanced tools make it a no-brainer.
EightCap is perfect for traders who love charting and analysis, while City Index leads in spread betting for tax advantages. Vantage stands out as a dependable all-rounder, and XTB is ideal for those who want a user-friendly proprietary platform packed with educational resources.
No matter your trading style or experience level, there’s a broker on this list that’s perfectly tailored to your needs.
FAQs: Everything You Need to Know About Forex Trading in the UK
1. Which Forex Broker Has the Lowest Spreads?
Pepperstone offers the lowest spreads, starting at 0.0 pips on its Razor account.
- Razor Account: 0.0 pips on majors like EUR/USD, with a £6 round trip commission per lot.
- Standard Account: Commission-free with spreads starting at 0.6 pips, ideal for beginners.
- ActivTrades also offers competitive spreads, starting at 0.5 pips, with no additional commissions.
2. Which Forex Broker Offers the Most Currency Pairs?
IG has the most currency pairs to trade with over 90 forex pairs, including majors, minors, and exotics.
- IG: 90+ pairs, perfect for traders who want a wide range of options.
- City Index: 80+ pairs, including a robust selection of exotic currencies.
- Pepperstone: 60+ pairs, offering a balance of simplicity and diversity.
3. Where Can I Learn Forex Trading for Free?
BabyPips.com is the best free resource for forex trading education.
- BabyPips offers beginner-friendly tutorials, strategy guides, and quizzes to build your knowledge.
- XTB: Their Trading Academy is great for interactive learning with webinars and tutorials.
- IG Academy: A step-by-step guide for forex trading with videos, courses, and live analysis.
4. What Is the Best Forex Trading Platform for Beginners?
Pepperstone is the top choice for beginner forex traders in the UK due to its user-friendly platforms and low spreads.
- Offers MT4, MT5, cTrader, and TradingView—perfect for new traders and those scaling up.
- EightCap is another great pick for charting enthusiasts with TradingView integration.
5. How Much Money Do I Need to Start Forex Trading?
You can start trading forex with a £50 minimum deposit with some brokers.
- Vantage and EightCap: Low minimum deposits of £50 to £100.
- IG: Recommended deposit of £250 for a more flexible trading experience.
6. Which Broker Has the Best Trading Tools?
EightCap excels for Forex Trading in the UK with its TradingView integration, ideal for technical traders.
- IG: Advanced proprietary tools with in-depth analysis options.
- XTB: xStation 5 delivers a sleek experience with integrated education and real-time data.
7. Is Forex Trading Safe with UK Brokers?
Yes, as long as you trade with FCA-regulated brokers like those on this list.
- FCA regulation ensures fund protection, negative balance protection, and strict oversight.
- Always use proper risk management strategies to mitigate potential losses.
8. Can I Practice Forex Trading Without Risking Real Money?
Yes, all the brokers listed offer demo accounts for practice trading.
- Pepperstone and City Index provide realistic demo accounts with virtual funds to test strategies.
- XTB’s demo account integrates with its xStation 5 platform for seamless learning.
8. What is the Best Forex Broker for Beginners in the UK?
Pepperstone is the best forex platform for beginner traders in the UK. They have the perfect combination of low spreads, a wide range of 1,200+ assets to trade and great customer service.
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