Cryptocurrency traders in United Kingdom contribute to the $20 billion USD worth of Bitcoin is traded daily around the world. We hope this list will assist you in making an informed decision when researching Best Trading Platforms in the UK (United Kingdom). Although social trading is now popular in the UK (eToro for example has over 35 million users which is a huge feat for an investment platform), copy trading does come with some risk. Through 2025, market conditions reflect continued adoption of AI and a shifting policy backdrop. According to the Bank of England, policymakers are assessing the financial stability implications of wider AI use in financial services in 2025. In addition, the Bank of England reduced Bank Rate to 4% in August 2025 after an earlier cut in May, moves intended to support UK economic growth.
What fees should you consider when choosing a broker?
There is a difference in the tax treatment of CFD/spot market trading and spread betting. Those with a total income below £50,000 pay a 10% tax, the rest 20%, unless HMRC deems trading-related income to be taxable under personal or corporate tax rates. UK retail clients trading in spread betting accounts are generally not required to pay taxes, which is why it has become the dominant form of currency trading in the UK, offered by all UK brokers.
- UK-licensed trading firms are also obliged to participate in the Financial Services Compensation Scheme (FSCS), which provides compensation to customers if their brokers go out of business.
- Choosing a broker with fair, transparent pricing will help you keep more profits in your pocket.
- I like that FxPro provides 24/5 customer support via Live Chat, and connecting with support took less than 30 seconds when I tested it.
- AvaTrade offers various account types, including Retail, Professional, Standard, Islamic (swap-free), and demo accounts.
- FOREX.com gives you direct access to global forex markets with low spreads, lightning-fast execution and powerful trading platforms—all under the regulation of the CFTC.
Understand the leverage options available and choose a broker that offers leverage levels suitable for your risk appetite and trading strategy. While Tickmill excels on pricing and execution, there are some limitations. The range of tradeable markets isn’t as wide as what’s offered by brokers like IG or Saxo Markets, and the educational content, while useful, could be expanded. What drew me to IBKR is how extensively it’s regulated — across nine Tier-1 jurisdictions, including the UK’s FCA. Add to that a Trust Score of 99 and an impressive USD 10.01 billion in equity capital, and you’ve got a broker that offers serious stability. It’s incredibly polished and user-friendly, with a strong set of charting tools, customisable layouts, and integrated news and analysis.
What is the difference between a UK-regulated forex broker and an unregulated forex broker?
IG is one of the most established UK forex brokers, offering multiple account types and platforms tailored to both beginners and experienced traders. I’ve always found their setup versatile, and especially appealing if you’re looking to take forex seriously from day one. Forex traders have access to over 80 currency pairs at City Index, with spreads starting from 0.5 pips on major pairs. Clients can use either the broker’s proprietary platform, noted for its intuitive interface, advanced charting, and real-time insights, or choose MetaTrader 4 (MT4). Furthermore, City Index’s commitment to education is showcased through live webinars, comprehensive trading guides, and market commentary. This combination of robust regulatory backing, flexible platforms, and extensive research content strengthens the broker’s standing among traders in search of a reputable UK-based provider.
Ensure the broker is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Forex.com has built a global reputation as the largest MetaTrader broker — and from what I’ve seen, it definitely lives up to that title. That said, some features are region-specific, like access to cash equities, so availability may vary depending on your location. Launched in 2002 and publicly listed, XTB is regulated across multiple jurisdictions, including two Tier-1 and two Tier-2 regions, adding an extra layer of credibility. I’ve found it particularly impressive for its blend of technology and trust, a rare combination in retail trading. Yes, CMC Markets charges an inactivity fee of £10 (or currency equivalent) per month if there is no trading activity for 12 months.
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How much does it cost to trade Forex in the UK?
So, unlike our traditional currency markets in United Kingdom, they’re not as rattled by interest rate shifts or the political drama in United Kingdom that’s always on the news. You’ve probably noticed how Forex trading is really taking off in United Kingdom, right? Over the past half-dozen years or so, the trading volume in United Kingdom has been on a steady climb. Customer feedback and professional reviews can provide insights into the broker’s reliability, service quality, and user satisfaction. Online stock trading allows you to buy and sell shares electronically through brokerage firms or banks.
Plus500 maintains a well-balanced asset selection that features the iShares FTSE100 ETF, 105 UK equity CFDs, cryptocurrencies, and options. Forex traders benefit from minimum spreads of 0.6 pips or $6.00 per 1.0 standard round lot, on par with competitive commission-based ECN/STP/NDD brokers. I rank BlackBull Markets among the best Forex brokers in the UK due to its ultra-competitive ECN environment. Data feeds from 66+ third-party providers ensure deep liquidity, and competitively priced, commission-based ECN accounts commence with fees as low as $4.00 per lot. All FCA-authorized forex brokers must participate in the country’s statutory Financial Services Compensation Scheme (FSCS).
Why FOREX.com Falls Short
- One of the big draws for me is that forex trading on Plus500 is commission-free.
- If you automate your trades, then your options are limited to MetaTrader 4, MetaTrader 5, and cTrader with most brokers.
- Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.
- These brokers facilitate real-time trading and often offer tools such as leverage, charting software, and advanced order types to help you manage risk and opportunity.
Forex traders come in all forms, from beginner to expert, and everywhere in between. Trading tools that help traders to understand price movements or the mechanics of a trade are expected. Brokers or trading platforms should have charting, historical data, news, and other tools available for traders.
If you are choosing an FCA regulated broker, make sure to check the official FCA database to avoid cloned UK firms and scammers. BlackBull Markets supports algorithmic trading through MT4/MT5 and cTrader, while VPS hosting ensures 24/5 low-latency trading. Algorithmic traders can connect advanced trading solutions to the BlackBull Markets infrastructure via API. Autochartist offers an MT4/MT5 upgrade, and BlackBull Markets is a leading broker for copy and social traders.
Note that crypto CFDs are currently banned for retail traders in the UK, but professional clients can still trade them under certain conditions. FCA regulations require all brokers to provide negative balance protection to retail clients. This means traders cannot lose more than their deposited funds or end up owing their broker money, even during extreme market volatility. The broker provides extensive learning resources, including free access to forex market research, daily technical analysis, and live webinars.
What is the role of the FCA in Forex trading?
The radar chart to the left shows how important each category is when calculating a broker’s final score. Below, you’ll find the best UK forex brokers for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence. Forex traders in the UK can make significant amounts of money, so long as they understand the nature of the markets and employ a proper trading strategy. UK law states that anyone can trade forex, provided that they are london forex brokers over 18 and a tax resident of the country. Forex brokers, on the other hand, must meet regulatory standards in order to operate. Many UK forex traders are concerned about how Brexit will affect the British forex industry.
Pepperstone shines for traders who count costs and execution speed as top priorities. With IG, you’re not just limited to the basics—they give you over 80 currency pairs, which means you can trade majors, minors, and even exotics if you’re looking to try something different. The FCA provides a set of requirements that must be met before a Forex broker can receive an operating license. It also maintains a set of rules to ensure transparency and a stable capital structure. Violating them will result in investigations, fines, and possible suspension of a license, ensuring only trustworthy brokers operate legitimately out of the UK. Regulation of UK Forex brokers is done by the Financial Conduct Authority (FCA).
