Best Forex Broker in UK: Full Comparison

Best Forex Brokers in UK: Full Comparison

Are you based in the UK and interested in online trading? You want to know where to trade after Brexit? Then you’re in the right place with our guide on the best online trading platforms UK.

We want to show you the best selection of UK trading platforms around so that you can start trading yourself.

$ 100 Deposit
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*76.4% of Retail CFD accounts loss money.
$ 200 Deposit
  • Minimum Deposit:$200
  • Ratings:5 star
  • Demo Account:
  • *:*62% of Retail CFD accounts loss money.
$ 10 Deposit
  • Minimum Deposit:$10
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
$ 200 Deposit
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
Comparison Table Includes
  • Minimum Deposit:
  • Ratings:
  • Demo Account:
  • *:
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*76.4% of Retail CFD accounts loss money.
  • Minimum Deposit:$200
  • Ratings:5 star
  • Demo Account:
  • *:*62% of Retail CFD accounts loss money.
  • Minimum Deposit:$10
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk

PLUS500

$ 100 Deposit

ETORO

$ 200 Deposit

OPTIONBD

$ 10 Deposit

SWISS

$ 200 Deposit

We only ever list regulated platforms as we believe that your security is very important. Besides that, when we put this selection of the best UK brokers together, we always check the following criteria:

  • whether the trading platform has won any industry awards

  • each platform regulation credentials

  • the financial instruments and tools available to traders

We examine every online trading platform‘s regulation and operation to make sure that they are fully regulated and safe to trade with. Our check includes seeing where the licences are registered to plus current licence numbers.

$ 100 Deposit
  • Trust Score:97/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£40.000
  • Minimum Deposit:$100
  • Minimum Trade:*depends on the asset
  • Platform MT4:
  • Max Leverage:1:30
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*76.4% of Retail CFD accounts loss money.
$ 200 Deposit
  • Trust Score:98/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£ 100.000
  • Minimum Deposit:$200
  • Minimum Trade:£1
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*62% of Retail CFD accounts loss money.
$ 200 Deposit
  • Trust Score:92/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:2500+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:4 pips*
  • Withdrawal Time:1 - 2 days
  • *:*Capital at risk
$ 200 Deposit
  • Trust Score:95/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:1000+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-500
  • Trading Commissions:
  • Spread:1.2 pips*
  • Withdrawal Time:2 - 5 days
Comparison Table Includes
  • Trust Score:
  • Licensed in Europe (Cysec):Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:
  • Crypto Assets:
  • Demo Account:
  • Minimum Deposit:
  • Minimum Trade:
  • Platform MT4:
  • Max Leverage:
  • Trading Commissions:
  • Spread:
  • Withdrawal Time:
  • *:
  • Trust Score:97/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£40.000
  • Minimum Deposit:$100
  • Minimum Trade:*depends on the asset
  • Platform MT4:
  • Max Leverage:1:30
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*76.4% of Retail CFD accounts loss money.
  • Trust Score:98/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£ 100.000
  • Minimum Deposit:$200
  • Minimum Trade:£1
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*62% of Retail CFD accounts loss money.
  • Trust Score:92/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:2500+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:4 pips*
  • Withdrawal Time:1 - 2 days
  • *:*Capital at risk
  • Trust Score:95/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:1000+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-500
  • Trading Commissions:
  • Spread:1.2 pips*
  • Withdrawal Time:2 - 5 days

PLUS500

$ 100 Deposit

ETOROIQ

$ 200 Deposit

Vantage Fx

$ 200 Deposit

BDSwiss

$ 200 Deposit

Regulation means that a broker must follow strict financial rules that safeguard traders and are legal to operate as a platform.

As we’ve already mentioned your security is very important to us, so all the platforms listed a licenced to operate.

Let’s get started now with the list of the best online trading platforms in UK.

Best Online Trading Platform UK: eToro

etoro

  • Regulations: CySEC (no. 109/10) and FCA for UK (no.583263)

  • Platforms: WebTrader and Mobile Trading App

  • Leverage: Up to 1:30

  • Minimum Deposit: $200

  • Can you deposit in £ GBP? Yes, but it must be converted to USD which eToro operates in

  • Headquarters: Cyprus and there’s a registered office in London, UK

  • Support: 24/5 via LiveChat or Ticket Opening. Automatic help centre available 24/7

  • Instruments Available: Forex, ETF’s, Stocks, Indices, Commodities, Cryptocurrencies

 

Click here to open your first eToro trading account.

Open a Free eToro Account

*62% of retail investor accounts lose money when trading CFDs

 

eToro was founded in 2006 by a team who wished to bring social online trading to the masses. They succeeded because since then eToro to have more than 5 million people with active accounts on the platform.

Currently the company has registered offices in London (UK) but also has locations in Cyprus, Shanghai and Sydney.

For their UK customer’s though, eToro operates as eToro UK Ltd, and they are regulated by the FCA under licence no. 583263. Besides this the broker also holds a regulation licence from CySEC (no.109/10), so they are fully regulated and authorized to be in operation.

The broker is famous for being the leading social trading platform, which means they have many social trading features which user’s can use to learn from other eToro traders and a great social newsfeed. There are all levels of traders featured on the platform.

Another unique social trading tool that eToro offers is their CopyTrader tool. This feature lets you automatically copy the same trades of other successful traders, which is great if you want to learn from another member.

To start using the tool you can easily filter for a trader that suits your investment style with the search tool, the broker also offers an editor’s selection of suggested investors.

Each trader overview will show their profit ‘success’ rate as well as their trading risk level. When you find one that you wish to follow, simply click on the ‘CopyTrader‘ button and your account will automatically make the same trades that they do. This is definitely a special feature that makes eToro stand out from other brokers.

To start trading with eToro the minimum deposit is $200. The deposit can be made with a variety of payment methods including electronic wallets, credit card and bank transfer.

There are no additional deposit fees and the broker doesn’t charge any fees on trades besides spreads. The only situations where fees are charged is $5 for withdrawals and on overnight CFD positions.

If you wish to practice trading without being concerned about fees or with risking actual money, the online platform offers a free and unlimited demo account to all users that comes with $100,000 of virtual funds.

It’s possible to register just for the demo account and if you wish to start trading for real, you then can switch to the actual account at anytime.

The trading platform has a great selection of financial instruments available including a great cryptocurrency asset selection which has all the main currencies listed including Bitcoin, Ethereum and Ripple.

However, they also have some of the more uncommon ones including ZCash and Tezos, so quite a good mix to choose from if you’re interested in trading cryptocurrency as CFD’s.

One of the Best Online Trading Platform UK: Plus500

plus500

  • Regulations: CySEC (no. 250/14) and FCA for UK (no.509909)

  • Platforms: WebTrader, Desktop for Windows & Mobile Trading App

  • Leverage: Up to 1:30

  • Minimum Deposit: £100

  • Can you deposit in £ GBP? Yes

  • Headquarters: Israel and registered office in London, UK

  • Support: 24/7 via LiveChat, Email or WhatsApp

  • Instruments Available: Forex, ETF’s, Shares, Indices, Commodities, Crypto

Click here to open your first Plus500 trading account.

*‘76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.’

One international online broker that is well known for offering an incredibly large range of CFD assets in Plus500.

The trading platform has over 2000 assets on offer including some that not many brokers have, for example Plus500 has legal cannabis shares available which are currently a trending topic in the market.

Plus500 was founded by a team that wanted to make online trading user-friendly, which is why they created an easy-to-use platform with a great range of assets.

The company has grown incredibly since then and now has subsidiary offices all around the world.

For the UK the online broker operates as Plus500UK Ltd, and they have a London office. The broker is fully regulated, and they hold regulation licences from both the Financial Conduct Authority and CySEC.

Regarding their financial instruments available, Plus500 currently has 6, including Forex, ETF’s, Commodities, Shares, Indices and Cryptocurrencies.

Each instrument has many assets available, especially for Forex where there are many currency pairs listed. The Share assets also caught our eye, mainly because there is such a big choice featuring many key international companies.

Another thing that Plus500 is well-known for is for charging zero commissions on trades, instead the broker builds their compensation into their Buy/Sell spreads.

So when a trading position is opened you just ‘pay’ the spread fee which is integrated into the quoted asset rates, so it’s not an extra fee.

To see the spread quotes by each financial instrument this can be viewed directly from the platform’s website or under an assets’ info section.

However, Plus500 still offers some of the most competitive spreads on the market, so they remain attractive to traders. The online broker also doesn’t charge fees on making a deposit, withdrawing or opening and closing trades.

The minimum deposit is just £100, however if you make the deposit via bank transfer the deposit increases to £500. That’s why the online broker accepts credit/debit cards and e-wallets like PayPal and Skrill, which keeps the deposit at £100.

It’s also free to make withdrawals, you’re allowed up to 5 free withdrawals a month. When the monthly limit has been reached you must pay £10 a time. Other fees that can be charged are on inactive accounts and on overnight positions.

Traders are allowed to open just 1 live trading account with the broker, but the self-developed Plus500 platform is available across 3 different formats: as an online WebTrader, desktop download for Windows and via the Plus500 Trading App (which is available for Android and iOS devices).

All the platform versions are simple to use and well-designed. However, we were really impressed with the App because it was so easy to use and features price alerts and a good search function. It makes trading on the move simple and secure.

Best Trading Platform UK: Vantage FX

vantage fx

  • Regulations: ASIC & FCA (no.590299)
  • Platforms: MT4 & MT5
  • Leverage: Up to 1:30
  • Minimum Deposit: £200
  • Can you deposit in £ GBP? Yes
  • Headquarters: Sydney, Australia
  • Support: Yes, available 24/5 via Phone, Email & Live Chat
  • Instruments Available: Over 120 CFDs assets including Indices, Forex, Commodities and Shares

Click the button below to open a free Vantage FX account.

Open a Free Trading Account

*Your capital might be at risk

Vantage FX is an Australian based broker which became a leader on the Forex and CFDs trading world. Its forex platform is very professional, & they offer the MT4 and MT5 which are both respected trading platforms.

The broker has their headquarters in Australia, but there’s a London based office in the UK. The platform is fully regulated in the UK and holds an active licence from the Financial Conduct Authority.

One of the things the broker is well known is its fast trading platform, the free commissions and very low spreads.

For example, the average spread for the EUR/USD pair is from 0.1 pips for the broker’s RAW ECN account, and from 1.4 pips for their Standard STP account.

Vantage FX offers 2 main trading accounts: the Standard STP & RAW ECN. There’s also a Vantage FX Islamic account available for Muslim clients who require swap-free trading.

The main difference between them is that the Standard STP is commission free. The Standard STP also offers tight spreads and fast execution on trades. It’s the best account if you’re new to trading and want to start with a live account.

Whereas, the RAW ECN account is aimed at professional forex traders who require very low spreads and reasonable commission costs. In fact, the commission costs just £3 for each lot per side.

Both accounts also provide access to more than 180 tradable assets and the minimum deposit for both is £200.

The broker won several awards in the past years for having one of the best educational systems. If you are a beginner and need some educational tools in order to learn how to trade, then Vantage FX is ideal.

There are many free basic courses where it’s possible to learn how to trade forex and develop technical analysis skills.

Finally, Vantage FX offers a free demo account for users who want to test the platform and practice trading with virtual money.

Best Trading Platform UK: BDSwiss

best trading platform uk bdswiss

  • Regulations: CySEC and the FSC (no.C116016172)
  • Platforms: BDSwiss WebTrader, MT4 & MT5
  • Leverage: Up to 1:30
  • Minimum Deposit: £200
  • Can you deposit in £ GBP? Yes
  • Headquarters: Germany and Cyprus
  • Support: Yes, available 24/5 in a wide range of languages
  • Instruments Available: 250+ assets Cryptocurrencies, Forex, Indices, Shares, Commodities and Equities.

Click here to open your first BDSwiss trading account.

Open a Free BDSwiss Account

*Your capital might be at risk

BDSwiss entered the online trading world in 2012 with binary options, before switching within a few years to Forex. They have now grown to become a respected European broker.

The broker has also won various awards including the 2019 award for ‘best trading conditions‘ from the World Finance Awards.  They have also received the 2019 award for providing the ‘best trading app‘ from the Mobile Star Awards.

BDSwiss is fully regulated in the UK and Europe so you can be reassured that they are secure to use. Plus thanks to its low spreads and professional interface, they have become recognised as one of the best trading platforms in the United Kingdom.

There are more than 250+ assets available on BDSwiss, including Cryptocurrencies, Forex, Shares & Indices. All are available to trade as CFDs.

The broker also offers a free demo account with $10.000 of virtual funds for you to practice with.

It’s possible to trade using the broker’s own self-developed platform. Or you can use the MT5 & MT4 trading platforms. No matter which platform you select though, you can find forex spreads starting from 1.5 pips as well a no commission on forex trades.

You can also access daily market alerts and trading analysis to help you with your investments.

The required minimum deposit is only £200 which makes the trading accessible for many people. It’s also free to make deposits and withdrawals at BDSwiss.

You just need to withdraw more than £100 if withdrawing via a bank transfer, and more than £20 if withdrawing via a credit card or e-wallet, otherwise a £10 fee is charged.

Finally, thanks to the availability of the BDSwiss mobile trading App, its possible to keep track of your trades on your smartphone from any location. You can also receive real time price alerts on the mobile app which is handy if there’s a lot of market volatility and changes.

Best Online Trading Platform UK: UFX

ufx

  • Regulations: CySEC (licence no. 127/10)
  • Platforms: UFX WebTrader and Mobile App (for micro account)
  • Leverage: Up to 1:30
  • Minimum Deposit: $100 for the micro account
  • Can you deposit in £ GBP? No, only $ USD supported
  • Headquarters: Cyprus, London UK
  • Support: 24/5 support available via phone, email or LiveChat in 15+ languages
  • Instruments Available: Forex, ETF’s, Stocks, Indices, Commodities

Try Forex Trading

*Your capital might be at risk

 

Founded in 2007, one international broker that is popular in UK is UFX.

The platform provides a technologically innovative and award-winning platform for their clients. In fact, the broker won an award in 2017 during the UK Forex Awards for having the ‘Best Forex Trading Tools‘.

An example of their unique tools includes the UFXMassInsights technology feature. This is a livestream service which lets traders follow what other UFX traders are doing. This is a great way to learn from others and see how other traders are behaving.

It’s also possible to receive real-time notifications and market alerts with the tool.

Currently the broker has 5 different trade accounts available: micro, small, standard, gold and platinum.

Of course each various account comes with different functions and minimum deposit amounts, but for this review we will be looking at the micro account which has the lowest minimum deposit.

The micro account though gives you access to the UFX ParagronEx WebTrader and the mobile trading platforms.

For mobile devices, the App is available for iOS and Android devices and both platform types come with the UFX MassInsights Technology plus a free demo account.

To get started with the micro account you’ll need to deposit a minimum of $100 to your UFX trading account.

With the micro account you get access to the broker’s self developed trading platform as well as daily trade recommendations and full customer support. Besides that you can also access their educational video library.

There are many assets to trade with including ETF’s, Forex, Shares, Commodities and Indices. Overall there is a good selection of assets to choose from, we were especially impressed with the forex currency pairings and the pretty competitive spreads.

However, if you’re looking for cryptocurrency CFD’s, UFX may not be the best option as there are none offered at present.

The broker is also fully regulated, and currently UFX is operated by a firm called Reliantco Investments Limited. They are authorized to operate and hold a licence from CySEC (Cyprus Securities and Exchange Commission).

CySEC is a well respected regulation authority the monitors many leading trading platforms, especially brokers in Europe.

Besides that, UFX is also registered with Britain’s own Financial Conduct Authority, (reference no. 569242). You can be reassured that the platform is secure and legitimate to trade with.

Best Online Broker: ETX Capital

etx capital

 

  • Regulations: FCA (no.124721) and CySEC (no. 096/08)

  • Platforms: ETX TraderPro & MT4

  • Leverage: Up to 1:30

  • Minimum Deposit: £100

  • Can you deposit in £ GBP? Yes. Base currencies support include £/$/€

  • Headquarters: London, England

  • Support: 24/5 via Phone, Email or contact via the trading account

  • Instruments Available: Forex, Shares, Indices, Commodities, Cryptocurrencies

Try Forex Trading

*Your capital might be at risk

 

ETX Capital is a London based broker that offers forex and CFD trading to many international clients.

The broker has a lengthy track record because their parent company, Monecor London Ltd, was established back in 1965. They are also listed on the Stock Exchange of London under the Monecor name.

The broker is fully regulated, and because they are based in London they hold a regulation licence from Britain’s Financial Conduct Authority (no. 124721). Besides this ETX Capital also holds a further regulation licence from CySEC, (no. 096/08).

Being fully regulated you can be reassured that the broker is secure to create an account with.

The broker is known for include their easy-to-use platform and their great educational tools. For example, ETX Capital has won awards for both of these strengths, in 2017 they received the award being the ‘Best Forex Educator’ during the English Forex Awards.

Then in 2018 they won first prize from the Online Personal Wealth Awards for having the ‘Best Trading Platform‘.

Their self-developed ETX TraderPro online platform has a well-designed layout. The education tools are also very impressive with free webinars, eBooks and advanced educational courses available for traders of all levels to use.

When we checked there was at least 1 live webinar each day planned for this month. The broker’s education offering is definitely one of the best we’ve seen.

Currently the platform can only be used as a web trader and is not available to download for desktop use, but there is the ETX TraderPro mobile app available for iOS and Android devices.

The app comes with price alerts and interactive charts which makes it possible to trade from anywhere, even on the move! Besides this the broker also has the MetaTrader 4 platform available for desktop download and as a smartphone app.

When you sign up to open an ETX Capital account, you’ll be asked to select which platform you would like to use – so either the MT4 or the ETX TraderPro.

It’s important to point out that you can switch to the other trading platform at anytime. You just need to get in contact with the support team, and they’ll be able to give you access.

To get started with trading and funding your account, the minimum deposit with the broker for this account is £100.

It’s easy to deposit the funds because the broker has a variety of payment methods available to use, this includes credit/debit card, bank transfer, Skrill and Neteller.

The trading platform doesn’t charge any fees to deposit and there are no charges for withdrawals either! In fact, you are allowed up to 5 free withdrawals a month, after this has been met a £10 fee will be charged.

There is a good asset range available to trade as CFD’s including Cryptocurrencies, Forex, Shares, Commodities and Indices. We were impressed especially with the forex assets which include over 60 FX pairs, but there are no ETFs or Option instruments available at present.

Before trading, we’d always recommend taking a look at the broker’s full trading costs which are clearly displayed online so you’re aware of the min spread and margin of each asset.

 

Marco Sbalchiero

Author of this article and founder of Tradingonlineguide.com

My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.

In my spare time I enjoy cooking and travelling.

Here you can learn more about our review methodology.

 

FAQ'S

After our comparison, it’s difficult to say which one is the best broker. The decision depends a lot on the level of experience you have and on the priorities to select a broker.
After taking into consideration the different characteristics of each broker, I would recommend starting trading with Plus500.
The broker has one of the best interfaces and its usability is very good. All the main assets are available plus many cryptocurrency assets and shares too. The platform has very low commissions and the deposit and withdrawal processes are very fast. The fact to have the first deposit of only £100 makes trading possible for a lot of people.

I would personally recommend eToro if you are a beginner and want to trade stocks. On the platform, there are all the main companies’ stocks available (Amazon, Apple, Tesla, Google, etc.). What makes eToro unique are copy trading and social trading features. Thanks to those two tools, also beginners can start investing. Social trading means that on your dashboard you can share investing opinions and knowledge with other traders. Copy trading means that you can select an eToro trader, depending on his performance, and copy all his investments.

Finally, the opportunity to start investing with only £200 is very good for the market standards. £200 is enough liquidity to be able to buy shares of different companies, maintaining at the same time a good risk management strategy.

On eToro is possible to buy different shares. On the platform there more than 50 stocks available. The most important ones are:

  • Amazon
  • Google
  • Tesla
  • Apple
  • Samsung
  • Tesco
  • Commerzbank

There are many more shares available and for different industries (informatics, electronic, banking, supermarket, motors, etc.). All of them can be found on the watchlist section on your dashboard. In some cases, buying shares is commission free. This depends on the market situation of the day.