Best Forex Brokers in UK: Full Comparison
Are you based in the UK and interested in online trading? 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.
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.
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 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 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, and 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 $25 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, Gram and Tezos, so quite a good mix to choose from if you’re interested in trading cryptocurrency as CFD’s.
Regulations: CySEC (no. 109/10) and FCA for UK (no.583263)
Platforms: WebTrader and Mobile Trading App
Leverage: Up to 30:1
Minimum Deposit: $200
Can you deposit in £ GBP? No, only $ USD supported
Headquarters: Cyprus and 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
Best Online Trading Platform UK: Plus500
One international 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 a 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 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 7, including Forex, Options, 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 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 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 easy 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.
Regulations: CySEC (no. 250/14) and FCA for UK (no.509909)
Platforms: WebTrader, Desktop for Windows & Mobile Trading App
Leverage: Up to 30:1
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, Options, Indices, Commodities, Crypto
Best Online Trading Platform UK: UFK
Founded in 2007, one international broker that is popular in UK is UFX. The platform also offers a technologically innovative and award-winning platform for their traders. 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 mobiles 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, Stocks, 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 FCA, (reference no. 569242). You can be reassured that the platform is secure and legitimate to trade with.
- Regulations: CySEC (licence no. 127/10)
- Platforms: UFX WebTrader and Mobile App (for micro account)
- Leverage: Up to 30:1
- 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
Best Online Trading Platform UK: ETX Capital
ETX Capital is a London (UK) 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), so you can be assured that the broker is secure to trade with.
Some of the main things that the broker is known for include their easy-to-use platform and their great educational tools. In fact ETX Capital has won awards for both of these strengths, in 2017 they received the award being the ‘Best Forex Educator’ during the UK 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 is very simple to use and with 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 ETF’s 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.
Regulations: FCA for UK (no.124721) and CySEC (no. 096/08)
Platforms: ETX TraderPro & MT4
Leverage: Up to 30:1
Minimum Deposit: £100
Can you deposit in £ GBP? Yes. Base currencies support include £/$/€
Headquarters: London, UK
Support: 24/5 via Phone, Email or contact via the trading account
Instruments Available: Forex, Shares, Indices, Commodities, Cryptocurrencies