However, you have to do a lot of research to stand a chance of predicting the up and down price movements of currency pairs. Most UK forex brokers allow high-volume trading, including the ones on our list. Furthermore, you can take advantage of leverage to increase the trading volume beyond your currency resources. However, the amount of leverage provided by a UK forex broker varies. An expansive learning center, packed with educational information, coupled with three trading platforms ranging from advanced to mobile, makes a solid choice for traders of any level of expertise. EToro is a multi-asset, global forex broker that has established itself as one of the leaders in the industry.

  • There is a difference in the tax treatment of CFD/spot market trading and spread betting.
  • Interactive Brokers offers an in-depth research platform, covering risk analysis and global technical research news that serious traders will appreciate.
  • While it is not advised for novice traders to try their chances with currency trading, it’s possible to find forex brokers that are geared towards beginner traders.
  • It offers 70 technical indicators, 50 drawing tools, and plenty of advanced order types.
  • This best forex broker UK offers an easy-to-use and secure platform and ECN accounts without commissions.
  • Traders get the MT4/MT5 trading platforms, which fully support algorithmic trading, and a proprietary copy trading service.

For example, with FXCM Real account you get access to TradingView Pro. Overall, forex trading requires a lot of risk tolerance and high starting funds to make significant profits. While it is not advised for novice traders to try their chances with currency trading, it’s possible to find forex brokers that are geared towards beginner traders. IG Markets has quite a few trading options and powerful platforms. Use MT4 or the proprietary platform IG Group created for its customers. You get low spreads on your investments, and the minimum deposit is only $250.

How Can I Avoid Paying Taxes on Forex?

From among all brokers that we have reviewed that are regulated by the FCA, IG is the best forex broker in the UK in 2023. IG is fully regulated by the FCA and holds dozens of regulatory licenses from major regulatory agencies around the globe. IG is also publicly traded and well-capitalized, and we’ve consistently ranked it as one of the most trusted brokers in the industry.

Top 10 UK Forex Brokers

‘Minor’ pairs relate to other combinations of the larger currencies, such as GBP/EUR, while ‘exotics’ include emerging market currencies. The traditional ‘four majors’ are EUR/USD, USD/JPY, GBP/USD and USD/CHF, with the other ‘majors’ being AUD/USD, USD/CAD and NZD/USD. The most-traded pair is the EUR/USD followed by USD/JPY and GBP/USD.

Top 10 UK Forex Trading Platform List

Do not rush into high-volume trading on the best forex-trading platform UK before gaining confidence. The global financial markets are driven by myriad factors, and they are not fully predictable. The best UK forex broker for beginners has a strong focus on education.

One of the biggest names in forex brokerage, CMC offers exposure to over 10,000 products, and besides its impressive market reach, the platform is highly regarded for its research amenities. Its charting feature includes up to 115 technical indicators, 12 chart types, and 35 drawing tools. Historical analysis stretches back two decades, and watchlists are incredibly customisable. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

What Is Forex Trading?

Using MT4, MT5, WebTrader and AppTrader, you can use this platform for either its access to the markets, its analytical tools or both. FXCC offers support for forex and CFD investors, allowing up to 70 currency pairs. In addition, 8 popular cryptocurrencies are available, spot palladium, gold and silver. One impressive aspect of Swissquotes is their average execution speed. With an average latency of just 9 ms, it is no surprise that 59% of trades have no slippage.

Top 10 UK Forex Brokers

The trading conditions exist for Forex traders to make money in the UK, but approximately 71% lose money when trading Forex, while less than 2% trade Forex for a living. Since the turn of the millennium, economic turbulence has increased, resulting in significant changes to the Forex market in the UK. Several brokers filed for bankruptcy amid higher capital requirements imposed by the FCA to ensure financial stability, while others left the jurisdiction voluntarily. We research and reviewed dozens of forex brokers to help you decide which broker is right for your needs.