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Best UK Forex Brokers for 2021 - Top 10 of the United Kingdom

June 2021

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The United Kingdom, with the 5th largest economy, is considered to be the financial hub of the world. It also exports financial services across the globe which is due to its generous tax laws, relatively loose regulations, convenient time-zone and central location. When it comes to the Forex trading landscape, the UK has some of the best and most successful brokerages that are known for their reliability, transparency, and quality.

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If you're from the UK and interested in Forex trading, then you've come to the right place. In this article, we have compiled a list of the best UK Forex brokers for 2021. So, without any further ado, let’s jump into it.

Best UK Forex Brokers

As mentioned earlier, the UK is the world's financial center. That's why the market is filled with hundreds of online brokerages, which makes it very daunting to choose the right online trading platform. Moreover, the excess of brokerages also comes with some great benefits for the traders, such as competitive fees and comprehensive tradable currency pairs offering.

Below you’ll find a table that contains the 10 best Forex trading platforms, and their specified ratings reflect their level of transparency, fee structure, and overall trading experience efficiency. We have crafted this table very carefully, and it’ll allow you to keep yourself from long and hectic hours of research.

Position Broker Rating Account Minimum Learn More

1

eToro

5.0/5

200 Pounds

Open Account

2

IC Markets

5.0/5

200 Pounds

Open Account

3

Oanda

4.9/5

0 Pound

Open Account

4

Admiral Markets

4.8/5

0 Pounds on Direct Bank Transfer and 50 pounds on credit/debit cards

Open Account

5

Forex.com

4.8/5

100 Pounds

Open Account

6

IG

4.7/5

250 Pounds

Open Account

7

CMC Markets

4.5/5

0 Pound

Open Account

8

Interactive Brokers

4.5/5

0 Pound

Open Account

9

FXTM

4.4/5

10 Pounds

Open Account

10

Plus500

4.3/5

100 Pounds

Open Account

Top 10 Trading Platforms in the UK

If you want to achieve your investment and financial goals by performing Forex trading, then it's important to choose the online Forex broker that meets your requirements and needs. It's important to keep in mind that the broker you choose to perform Forex trading in the United Kingdom must be authorized and regulated by FCA (Financial Conduct Authority). It's the main regulatory body in the UK that works independently of the local government.

Whether you’re a professional and seasonal trader with years of experience or a beginner, you can find the right brokerage for Forex trading in the UK by reading the following information carefully.

eToro

Currently, eToro is serving more than 20 million traders from all around the world, and it's also the overall best online Forex broker for people from the UK. It's not only regulated by FCA, but it has also received a cross-border license from this regulatory body which makes it a trusted and low-risk Forex broker.

Why is eToro good for traders from the United Kingdom?

  • Has multiple offices in the UK

  • Offers seamless and fast account opening

  • Charges no inactivity fee

  • Provides social trading experience

  • Offers diverse withdrawal and deposit options

  • Offer demo account

IC Markets

IC Markets was established back in 2007, and it's currently working as one of the most popular online Forex brokers. It's also a fully regulated online brokerage, including FCA and many other renowned authorities. It means you can perform Forex trading on this platform comfortably if you're from the UK.

Why is IC Markets good for traders from the United Kingdom?

  • Highly trusted online brokerage

  • Regulated by FCA

  • Offers fast and easy account opening experience

  • Supports 10 different base currencies

  • Charges no inactivity or withdrawal fee

  • Offers demo account

Oanda

Oanda is a fully regulated online broker that is also authorized by the Financial Conduct Authority of the United Kingdom. It was founded back in 1996, and over the years, it has acquired regulation licenses from multiple world-famous regulatory bodies. Other than that, it also offers a great Forex trading experience because of its advanced and state-of-the-art technology.

Why is Oanda good for traders from the United Kingdom?

  • Regulated by FCA

  • Offers excellent trading platforms

  • User-friendly and fast account opening

  • Outstanding educational material and research tools

  • Bank and electronic wallet depositing options

  • Supports 9 different base currencies

  • Offers demo account

Admiral Markets

Admiral Markets was founded back in 2001, and it's considered one of the most successful and active online brokerages in the whole world. It's regulated in two tier-2 and two-tier jurisdictions, including FCA that makes it a low-risk and safe brokerage for Forex trading. Moreover, its robust research options and additional trading tools make it a great option for the trader from the UK.

Why is Admiral Markets good for traders from the United Kingdom?

  • Regulated by FCA

  • Has a head office in the UK and multiple offices all across Europe

  • Long and great operation record

  • Offer 24/7 live customer support

  • Supports 10 base currencies

  • Offers extensive support and educational material

  • Comes with demo account offering

Forex.com

Forex.com was founded back in 2006, and it works under the supervision of a company that's publicly traded. Moreover, it's also a regulated broker that is authorized in four different tier-1 jurisdictions, including FCA. It's also a low-risk and safe online broker in the UK for Forex trading.

Why is Forex.com good for traders from the United Kingdom?

  • Has the head office in the United Kingdom

  • Regulated by FCA

  • Offers extremely low Forex fee

  • Comes with a vast currency pair’s variety

  • Offers versatile research and technical tools

  • Charges no withdrawal fee

  • Supports 6 different base currencies

  • Offers demo account

IG

IG Markets is one of the oldest and most successful online brokers for Forex trading. It was founded back in 1974 and is currently regulated in six different tier-1 regulations, including FCA. It's also a publicly-traded organization that's traded by "LON: IGG." Because of its regulations and authorizations, it's considered one of the most trusted Forex brokers in the UK for 2021.

Why is IG good for traders from the United Kingdom?

  • Has a head office in the UK with multiple offices across Europe

  • Regulated by FCA

  • Offers next-generation web trading platform

  • Comes with a range of educational content

  • Diverse withdrawal and deposit options

  • Supports 6 different base currencies

  • Offers demo account

CMC Markets

CMC Markets was established way back in 1989, and it's also a publicly traded company. As far as its regulations are concerned, it's regulated in two tier-2 and four tier-1 jurisdictions, including FCA. It makes it a low-risk and safe online brokerage for Forex trading in the United Kingdom.

Why is CMC Markets good for traders from the United Kingdom?

  • Regulated by FCA

  • Has a head office in the UK along with multiple offices across Europe

  • Offers low Forex fee

  • No minimum deposit required

  • Charges no withdrawal fee

  • Supports 10 base currencies

  • Offers demo account

Interactive Brokers

Interactive Brokers is one of the most popular Forex trading platforms not only in the UK but also in the whole world. It was founded back in 1977, and it's regulated in six different tier-1 jurisdictions, including FCA. It's one of the most versatile online trading platforms that offer a low-risk and safe Forex trading experience.

Why is Interactive Brokers good for traders from the United Kingdom?

  • Has multiple offices all across Europe

  • Regulated by FCA

  • Offer a wide range of currency pairs

  • Comes with many research tools

  • No minimum deposit required

  • Charges not withdrawal fee

  • Supports 22 base currencies

  • Offers demo account

FXTM

FXTM is a fully regulated online Forex brokerage that was founded in 2011. It’s authorized by multiple financial bodies such as FCA, CySEC, FSCA, etcetera. Moreover, this brokerage offers great trading platforms, a low fee structure, and more than 50 different currency pairs.

Why is FXTM good for traders from the United Kingdom?

  • Regulated by FCA

  • Offers low deposit requirements

  • Comes with great customer support service

  • Supports multiple base currencies

  • Allows depositing with the electronic wallet as well as bank

  • Offers demo account

Plus500

Plus500 is a publicly traded online Forex trading platform that was founded back in 2008. It's regulated in four tier-2 and three tier-1 jurisdictions, including FCA, which makes it a low-risk and safe online brokerage for Forex trading in the United Kingdom.

Why is Plus500 good for traders from the United Kingdom?

  • Regulated by FCA

  • Offers multiple physical offices in Europe

  • Comes with easy to understand and user-friendly platforms

  • Provides quick and easy account opening

  • Offers great customer support

  • Supports 16 different base currencies

  • Offers demo account

As you can see that all the brokers mentioned above are fully regulated and offer a great trading environment. You can also read the unique features of each broker, along with the reasons why they're good for traders from the United Kingdom.

UK Brokers Comparison

  • eToro
    Head office in the UK: No
    More than one office in Europe: Yes

    eToro is the best online Forex trading platform for traders from the UK. The best thing about this brokerage offers opportunities to communicate broadly with other traders. This feature especially comes in handy for beginners. Moreover, trading Forex on this platform is also very convenient and easy, and its comprehensive automated trading capabilities and researching tools allow traders to achieve their financial goals in the shortest possible time.

  • IC Markets
    Head Office in the UK: No
    More than one office in Europe: Yes

    The best thing about IC Markets is its education section that allows beginners not only to make the most informed decisions. But it also helps them to earn profit by understanding and managing the associated risks. It also offers decent live chat support that you can access anytime to get all your queries solved.

  • Oanda
    Head Office in the UK: No
    More than one office in Europe: No

    Oanda currently offers its services in more than 196 different countries, including the United Kingdom. It flaunts a strong regulatory and operation record, and its features and tools make it the best Forex broker for casual traders. It offers outstanding research tools, and you can customize the charts and workflows according to your personal preference.

  • Admiral Markets
    Head Office in the UK: Yes
    More than one office in Europe: Yes

    Admiral Markets is a highly regarded and regulated online Forex broker in the UK which is best suited for beginners. That’s because it offers free support and educational material that new traders can use to learn everything about Forex trading. Moreover, it also offers diverse analytical and research tools that you can use to create your own trading strategy without any restrictions.

  • Forex.com
    Head Office in the UK: Yes
    More than one office in Europe: No

    Forex.com, as the name suggests, specialized in Forex trading. It’s a great option for investors who want to meet their financial goals in the UK. This online trading platform offers a great range of currency pairs with a low Forex fee and allows you to customize your workspace and charts according to your needs.

  • IG
    Head Office in the UK: Yes
    More than one office in Europe: No

    IG market is yet another excellent option for all the Forex traders from the UK in 2021. It’s a multiple award-winning, a user-friendly online brokerage that offers good research functionality and instant order execution. Additionally, it's a low-risk and safe online Forex trading platform that you can use to maximize your profits in the long term.

  • CMC Market
    Head Office in the UK: Yes
    More than one office in Europe: Yes

    CMC Markets offers competitive Forex trading fees with great functionality. There is no minimum limit of funds that you need to deposit in order to start your Forex trading journey. It also offers excellent leverage options along with a range of educational material and research tools that can take your Forex trading experience to another level.

  • Interactive Brokers
    Head Office in the UK: No
    More than one office in Europe: Yes

    Undoubtedly, Interactive Brokers is one of those online trading platforms that cover all the boxes. It offers everything you need to perform informed and educated Forex trading in the UK. With a competitive fee structure and low Forex charges, you can use this trusted and fully regulated Forex trading platform in the UK to make a decent living.

  • FXTM
    Head Office in the UK: No
    More than one office in Europe: No

    FXTM is also a reliable and trusted online Forex broker that offers excellent trading tools and great customer support services. It doesn’t charge any inactivity fee and comes with a low Forex fee structure. It can be your best choice when it comes to Forex trading in the UK to achieve your investment goals.

  • Plus500
    Head Office in the UK: No
    More than one office in Europe: Yes

    Plus500 is a well-known global brokerage that provides online traders with a simple trading interface and a wide range of currency pairs. It supports 16 different base currencies, and its minimum deposit requirement is also below the industry average.

It’s always important to consider multiple online brokers and compare their features and services. Not only does it allow you to find the trading platform that suits your needs the best, but it also allows you to achieve your financial objectives in the least possible time. We also recommend you acquire the demo account of each broker mentioned above and test the provided functionalities in real-time. It’ll help you to understand the trading platform thoroughly without risking your real money.

Compare All Forex Brokers

Top 3 Forex Brokers for Investors

One of the most important factors to keep in mind while finding and selecting the online Forex brokerage in the UK is that not all trading platforms are equal. Each broker offers different features and targets different types of traders. That’s why it’s important to figure out your needs and choose the online Forex brokerage accordingly. The brokerages mentioned in the following table will suit you the best if you’re an investor.

Broker Investment Programs Minimum Deposit

Oanda

Investment Programs:

Oanda trade, MT4

Minimum Deposit:

0 Pound

Forex.com

Investment Programs:

MT4, MT5, FOREX.com Platforms

Minimum Deposit:

100 Pounds

FXTM

Investment Programs:

MT4, MT5, FTXM Trader

Minimum Deposit:

10 Pounds

Pay Attention!

After considering the functionalities and features of all the online trading platforms in our list of the 10 best brokers, we have chosen only three of them for investors from the UK. According to our research and real-time testing, these three brokerages offer the best trading environment to maximize your profits and meet your investing goals.

More About Investing Money

Top 5 Online Brokers for Beginners

Being a new trader, it's critical to choose an online Forex broker that offers a wide range of educational material and research tools. Not only will it help you to understand how Forex trading works, but it'll also help you to make the most informed and educated decisions. If you're a new trader from the UK and looking for an online Forex broker, then the following platforms will serve you the best.

Broker Types of accounts for beginners Minimum deposit

eToro

Types of accounts for beginners:

Retail Account

Minimum deposit:

200 Pounds

IC Markets

Types of accounts for beginners:

Standard Account

Minimum deposit:

200 Pounds

Admiral Markets

Types of accounts for beginners:

Trade Account

Minimum deposit:

0 Pounds on Direct Bank Transfer and 50 pounds on credit/debit cards

Interactive Brokers

Types of accounts for beginners:

IBKR Lite account

Minimum deposit:

0 Pound

Plus500

Types of accounts for beginners:

Standard Trading Account

Minimum deposit:

100 Pounds

Pay attention!

According to our research and testing, the brokers mentioned in the table above offer an easy-to-use and fast online trading environment. Moreover, you can also use their responsive mobile applications to access the same functionalities that their web and desktop applications offer.

Speed Course “Forex Trading for Beginners”

Forex Brokers with Deposits through the UK Banks

It’s necessary to deposit funds in your account before performing Forex trading on any online brokerage in the UK. That’s why it’s also important to ensure that you choose the online brokerage that allows you to deposit funds by using your bank account. Otherwise, you won't be able to perform Forex trading, or you'll need to open a new account in the bank that your selected broker offers. The following table contains the information regarding the brokerages and their supported banks.

Broker HSBC Holdings Lloyds Banking NatWest

eToro

Yes

Yes

Yes

IC Markets

Yes

Yes

Yes

Oanda

Yes

Yes

Yes

Admiral Markets

Yes

Yes

Yes

Forex.com

Yes

Yes

Yes

IG

Yes

Yes

Yes

CMC Markets

Yes

Yes

Yes

Interactive Brokers

Yes

Yes

Yes

FXTM

Yes

Yes

Yes

Plus500

Yes

Yes

Yes

Broker HSBC Holdings

eToro

Yes

IC Markets

Yes

Oanda

Yes

Admiral Markets

Yes

Forex.com

Yes

IG

Yes

CMC Markets

Yes

Interactive Brokers

Yes

FXTM

Yes

Plus500

Yes

Broker Lloyds Banking

eToro

Yes

IC Markets

Yes

Oanda

Yes

Admiral Markets

Yes

Forex.com

Yes

IG

Yes

CMC Markets

Yes

Interactive Brokers

Yes

FXTM

Yes

Plus500

Yes

Broker NatWest

eToro

Yes

IC Markets

Yes

Oanda

Yes

Admiral Markets

Yes

Forex.com

Yes

IG

Yes

CMC Markets

Yes

Interactive Brokers

Yes

FXTM

Yes

Plus500

Yes

Best Brokers Based in the United Kingdom

As mentioned earlier, choosing the right broker according to your unique needs can be daunting. Moreover, if you're from the UK, then the broker you choose must also be regulated by FCA. The brokers that we have mentioned in this article not only are regulated by the Financial Conduct Authority of the United Kingdom, but they also have physical offices in the country as well.

Company Office in the United Kingdom

eToro

24th floor, One Canada Square Canary Wharf London, E14 5AB United Kingdom

IC Markets

Doesn’t have a physical office in the United Kingdom

Oanda

Floor 3, 18 St. Swithin's Lane, London EC4N 8AD

Admiral Markets

60 St. Martins Lane, Covent Garden, London, United Kingdom, WC2N 4JS.

Forex.com

Devon House, 58 St Katharine's Way, London, United Kingdom, E1W 1JP

IG

IG Cannon Bridge House 25 Dowgate Hill London EC4R 2YA

CMC Markets

CMC Markets UK plc 133 Houndsditch London EC3A 7BX

Interactive Brokers

Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY.

FXTM

30 Churchill Pl, London E14 5EU, United Kingdom

Plus500

Plus500 UK LTD head office is in London. The Plus500 UK office address is: 78 Cornhill, London EC3V 3QQ

Forex Regulations in the UK | Expert’s Review

If you don’t already know, then it’s important to keep in mind that the Forex market isn’t regulated by any government. Instead, it’s authorized and regulated by independent financial bodies that keep the market from all types of misconduct and illegal activities.

It's not possible to create a single financial body to supervise all the Forex trading in the whole world because of the liquidity of the market. That's why all countries have their own financial firms, and in the UK, the Forex market is supervised and regulated by FCA (Financial Conduct Authority).

Forex Regulations in India | Expert’s Review

FCA issues policies and rules to maintain some particular standards of the Forex trading industry in the UK. Any brokerage that wants to accept UK traders and investors must be regulated and authorized by this financial regulatory body. This way, all the brokers, as well as traders, are protected from frauds, scams, and illegal activities.

More about Forex Regulators

Reviews on UK Brokers

About eToro:

In my opinion, there is no better online Forex trading platform than eToro. I started my Forex trading journey several years ago, and I have tried approximately all the major brokers in the UK. But the fact of the matter is that the ease of use, educational material, and latest market alerts that eToro provides is second to none.

Charles Conley, London


About IC Markets:

IC Market is a great online brokerage, and I've been using it for more than a year now. Not only has it allowed me to maximize my profits earlier than I expected, but it has also improved my knowledge about Forex trading substantially. I am happy and more than satisfied that I switched to this platform.

Mark Lucas, Leeds


About Forex.com:

Forex.com never ceases to amaze me. I am a full-time Forex trader from the United Kingdom, and this online Forex trading platform allows me to earn enough money that I can use to make a handsome living. From research tools to educational material and technical indicators to charts, it offers everything that I need.

John Barrett, Birmingham


About Interactive Brokers:

To put it simply, Interactive Broker is the best all-rounder, and regardless of your expertise and level of experience, you can use this platform for all types of trading, including Forex. I recommend Interactive Brokers to all types of traders out there in the UK, whether they're looking to start their Forex trading journey or even if they’re professionals.

Jeffery Blake, Glasgow


About Plus500:

Switching to Plus500 is the best decision that I made in the last few years. This platform has changed my entire perception of online trading platforms. I used to think that all online brokers are scams because I experienced one in my early trading days. Then I tried Plus500, and everything changed, and now I am thinking of making online Forex trading my full-time job.

Oliver O’Brien, Manchester

Learn how to earn more with TU

About the Author of this Article

Jack Moore
Jack Moore,
Financial Analyst, Trader
  • Jack has been engaged in trading and forecasting in the Forex market for more than 9 years. During this time, he’s gone from a novice to an expert in stock and financial markets. Jack consults well-known brokerage companies and he also helps private clients to choose a broker.
  • In 2013 he commenced at System Capital Group (trading stocks and currencies online using investments of companies and individuals). He held this position for 5 years.
  • Jack Moore advises all traders to work with brokers through Traders Unions. Throughout his professional career he is proud to receive excellent recommendations from numerous clients who have been satisfied with the advice that he has provided.

FAQ

Is Forex trading legal in the United Kingdom?

Forex trading is completely legal in the UK, and it's supervised by the FCA (Financial Conduct Authority). It's important to choose the online brokerage that's fully authorized and regulated by this financial body to protect your funds.

Which is the best online Forex broker for beginners?

For beginners and inexperienced traders, eToro is the recommended online Forex broker because of its easy-to-understand platform and user-friendly functionality.

Is Forex trading taxable in the UK?

If you perform Forex trading as spread betting, then you won't need to pay any tax in the UK. However, you'll be liable to pay tax if you earn personal profits through Forex trading. The tax will be charged and paid as CGT (Capital Gains Tax) once the tax year ends.

Can I make a living from Forex trading?

Forex trading has the potential to make you rich, and you can make a handsome living out of it as well. But it's important to note that Forex is basically currency trading that requires skills, knowledge, and experience. Like any other skill, it takes diligence, patience, and time to learn new trading styles and refine your strategies.