Top Rated Forex Brokers in the UK (Low Fees, Great Platforms)

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Top FCA Regulated Forex Broker in the UK - eToro

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Best Forex brokers in UK are:

  • eToro - Biggest copy trading community in the world (over 3,000 verified investors with copiers)

  • OANDA - Best for trading with advanced technical analysis tools (TradingView charts support)

  • IG Markets - Huge choice of supported CFDs (over 17,000 markets)

  • FOREX.com - Best markets diversity (over 4500)

  • Interactive Brokers - Best broker for international investors (assets from 33 countries, 150+ markets)

  • Eightcap - Best broker to trade directly from TradingView charts (15+ customizable chart types, 90+ drawing tools)

In the world of forex trading, choosing a reliable and well-regulated broker is paramount. The Financial Conduct Authority (FCA) acts as the primary regulator for financial services in the UK, ensuring brokers adhere to strict guidelines and consumer protection measures. Trading with an FCA-regulated broker offers significant advantages, including security of your funds, fair dealing practices, and access to dispute resolution procedures.

This guide, compiled by the Traders Union experts, meticulously evaluates the top 30 FCA-regulated forex brokers in the UK. We compared them across a comprehensive range of criteria, including security, regulatory compliance, trading conditions, and fees. By delving into this in-depth analysis, you'll be equipped to select the forex broker that best aligns with your trading goals and risk tolerance.

Top 30 FCA-Regulated Forex Brokers in the UK

TU experts analysed hundreds of Forex brokers in the United Kingdom and shortlisted the top 30 based on the criteria that comprise authorization by FCA, low minimum deposit, favourable trading conditions, good educational content, and top-notch customer support.

Forex Broker Overall Score FCA Regulation Minimum Deposit Advantages

eToro

5.62

50$

  • Copy trading
  • Investor Protection £85.000 (UK) €100.000 (DE) SGD $75.000
  • Affiliate program

Open an account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

OANDA

5.34

No

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • TradingView Charting
  • Investor Protection £85.000 (UK) SGD $75.000
  • Affiliate program

Open an account

Your capital is at risk.

IG Markets

6.03

$450

  • Copy trading

Study review

FOREX.com

5.3

$1000

  • Tight ECN Spred from 0.1 pips
  • TradingView Charting
  • Investor Protection £85.000 (UK)
  • Affiliate program

Study review

Interactive Brokers

5.2

No

  • Tight ECN Spred from 0.1 pips
  • Investor Protection $500.000 (US) £85.000 (UK)
  • Affiliate program

Study review

Eightcap

9.57

100 USD

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • TradingView Charting
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.

Exness

9.34

$10

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection €20.000 (EU) £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.
You can lose your money.

FxPro

8.68

100 (USD, EUR, GBP, CHF)

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection €20.000 (EU) £85,000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

Pepperstone

8.42

$1

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • TradingView Charting
  • Investor Protection £85.000 (UK) €20.000 (EU) €100.000 (DE)
  • Affiliate program

Open an account

Your capital is at risk.
Please note that your capital is at risk.

Libertex

8.17

100 EUR

  • Investor Protection £85.000 (UK) €100.000 (DE)

Open an account

Your capital is at risk.
73.77% of retail investor accounts lose money when trading CFDs with this provider.

Tickmill

8.06

100 US dollars

  • Tight ECN Spred from 0.1 pips
  • TradingView Charting
  • Investor Protection £85.000 (UK) €20.000 (EU) €100.000 (DE)
  • Affiliate program

Open an account

Your capital is at risk.

Admirals

7.88

$1 — $100, $250

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.

Vantage Markets

7.58

$50

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • TradingView Charting
  • Investor Protection €20.000 (EU) £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

IronFX

7.16

$100

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection €20.000 (EU) £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

Swissquote Bank SA

6.63

From $1,000

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK) €20.000 (EU) SGD $75.000 HKD $500.000
  • Affiliate program

Open an account

Your capital is at risk.
Between 70 and 80% of retail investors are losing money when trading forex instruments and CFDs.

HFM

6.53

USD 0

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.
71.24% of retail investor accounts lose money when trading CFDs with this provider.

Darwinex

6.23

$500

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK) €100.000 (ES)
  • Affiliate program

Open an account

Your capital is at risk.

FXOpen

6.13

$1-$300 (depending on the country)

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • TradingView Charting
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.
77% of retail investor accounts lose money when trading CFDs with this provider.

FXTM

6.08

$10

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.
80% of retail investor accounts lose money when trading CFDs with this provider.

Axi

5.8

$1

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.
74.1% of retail investor accounts lose money when trading CFDs with this provider.

IFC Markets

5.74

From $1 and from $1,000 depending on the account type

  • Copy trading

Open an account

Your capital is at risk.

Fortrade

5.6

$100

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.

Trade Nation

5.58

$1

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

XTB

5.22

no minimum deposit

  • Copy trading

Open an account

Your capital is at risk.

Markets.com

5.15

$100

  • TradingView Charting

Open an account

Your capital is at risk.
79,9% of retail investor accounts lose money when trading CFDs with this provider.

HYCM

5.02

$100

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK) €20.000 (EU)
  • Affiliate program

Open an account

Your capital is at risk.

Equiti Group Ltd

5

$500 

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

ActivTrades

4.95

0$

  • TradingView Charting

Open an account

Your capital is at risk.
76% of retail investor accounts lose money when trading CFDs with this provider.

Key to Markets

4.89

$100

  • Tight ECN Spred from 0.1 pips
  • Investor Protection £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.
71% of retail investor accounts lose money when trading CFDs with this provider.

ZFX Broker

4.81

From $50 for retail clients, from $10,000 for professional clients

  • Tight ECN Spred from 0.1 pips
  • Copy trading
  • Investor Protection £85.000 (UK)
  • Affiliate program

Open an account

Your capital is at risk.

Comparison of the Top 10 Forex Brokers in the UK

Broker Trading platform Instruments Spread Trust management Margin Call / Stop Out Execution of orders Cent accounts Replenishment / Withdrawal Trading features Account currency

eToro

MobileTrading, WebTrader

Currencies, assets of stock and commodity markets, cryptocurrencies

2 points

n/a

Instant Execution

Bank transfer, Neteller, Skrill, Webmoney, GiroPay

Cryptocurrency trade; Structural investment portfolios; Copy Portfolios; Trading Central.

USD

OANDA

WebTrader, MetaTrader4, Mobile platforms, MetaTrader5

FX, Indices, Bullion, Commodities, Crypto

0 points

Stop Out - 50%

Market Execution

Visa, Mastercard, Skrill, Neteller and various Alternate Payment Methods

Advisors; Availability of a demo account; A large number of training materials.

USD, EUR, HKD, SGD

IG Markets

MetaTrader4, Web platform, ProRealTime, Trading apps

Currencies, assets of stock and commodity markets, cryptocurrencies

0.6 points

N/a

Market Execution

Bank transfer, payment cards

Allows crypto trading

USD

FOREX.com

FOREX.com, MT4, MT5

Forex, cryptocurrencies, indices, commodities, stocks

0.2 points

N/a

Market Execution, Instant Execution

Bank transfer, payment cards

There is a cryptocurrency trading

USD, EUR, GBP

Interactive Brokers

Trader Workstation, IBKR Mobile, APIs

Stocks, options, futures, currency, metals, bonds, ETF, mutual funds, CFD, EPF, Robo-portfolios, hedge funds

0 points

Depending on the asset

Market Execution

Bank Transfer (SEPA), US ACH Transfer, Direct Debit/Electronic Clearinghouse (ACH), Cheque, Canadian ETF Transfer, BACS / GIRO / ACH

Options, trading, CFD, ETF, EPF

USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH

Eightcap

MT4, MT5

CFDs on currency pairs, cryptocurrencies, indices, stocks, commodities, and precious metals

0 points

80%/50%

Market Execution

Visa, MasterCard, POLI, wire transfer, BPAY, UnionPay, Skrill, Neteller, BTC and ETH wallets, PayPal, WorldPay, FasaPay, PayRetailers, and PSP

Free 30-day demo account;
Account types with standard and raw spreads;
Minimum deposit is $100;
Over 800 assets in the pool;
High leverage;
High-quality training;
A lot of current analytics;
Special tools for technical and fundamental analyses

AUD, USD, GBP, EUR, NZD, CAD, and SGD

Exness

Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4

Forex CFDs on: cryptos, commodities, indices, and stocks 

1 point

Standard: 0%/60%
Professional: 0%/30%

Market Execution, Instant Execution

Skrill, Neteller, Perfect Money, BTC, USDT, USDC, VISA, VISA Electron, Mastercard, Maestro, and internet banking

Floating spreads;
Fixed fee per lot on professional account types.

EUR, USD, GBP, CAD, AUD, and CHF for all account types;
38 more currencies for non-cent account types

FxPro

MT4, MobileTrading, MT5, cTrader, FxPro Edge

Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies.

0 points

25/20

Market Execution

VISA/MasterCard, Maestro, UnionPay, Cryptocurrency transfers, Perfect Money, Skrill, Neteller

Scalping - for all types of financial instruments; Negative balance protection for customer accounts; 24-hour multilingual support, 5 days a week; Advisors; Algorithmic Trading.

USD, EUR, GBP, CHF, AUD, PLN, ZAR and JPY

Pepperstone

MT4, MobileTrading, WebTrader, cTrader, MT5, TradingView

CFDs on Forex, Index, Stocks, Currency Indices, Commodities, ETFs, Crypto

0 points

90% / 20%

Instant Execution

Visa, Mastercard, bank accounts, PayPal, Neteller, Skrill, BPay, Union Pay, EMPESA

Trading using advisors; Auto copying; Scalping; Hedging; Trading on the news are allowed.

AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD and HKD

Libertex

Libertex, MT5, MT4

300+ CFDs on stocks, indices, commodities, metals, cryptocurrencies, ETFs, and commodities

0.1 points

50/50

Market Execution, Instant Execution

Bank cards electronic payment systems, Internet banking, bank transfers

EUR, GBP, PLN, CHF

Top 3 Forex Brokers in the UK - Expert Reviews

Expert Reviews of eToro

The broker eToro has been operating in the over the counter (OTC) financial markets for over 10 years, but there are still questions remaining to fulfill its obligations. First of all, it is worth noting the inconvenient website design. To learn about account types with detailed trading conditions you have to first register on the site. Trading conditions for investors in comparison with similar conditions of social trading of other brokers can hardly be called attractive. First of all, there is a $5 fee for withdrawing funds. Yes, it seems symbolic, but then its reason is more unclear. Secondly, the number of traders copied is limited to 100. The reason for such restrictions are also unclear. The broker eToro is rather a platform possessing a specific niche for social trading, with its own advantages and disadvantages. Nevertheless, its longevity suggests that the company confidently maintains an average level in its segment. The broker eToro also occupies an average position in the Traders Union rating of Forex brokers.

Can You Short On eToro?

Expert Reviews of OANDA

The OANDA broker has substantial experience in the Forex market. The company has managed to earn a reputation as a reliable broker who provides its clients with decent trading conditions. The company has only two types of accounts, as well as the ability to open a demo account for novice traders. It does not have cent accounts. OANDA offers a wide range of trading instruments as well as three trading platforms (MetaTrader 4, WebTerminal MT4, MT5). The broker's website can hardly be called convenient and functional, which creates some inconvenience for clients.

Expert Reviews of IG Markets

The broker IG Markets is noted for being part of a financial holding company that provides many types of services in the foreign exchange and over-the-counter markets, including trust management and investment consulting support. IG Markets is focused on providing services in the retail segment of CFDs (derivatives, contracts for difference). Any IG Markets client can open an account using a simplified procedure in subsidiaries of the IG Group (for example, IG Index) and go directly to the London Stock Exchange (LSE). IG Markets has no restrictions on working with foreign clients. Trading conditions are more suitable for those who are aimed at long-term cooperation and active trading. The high minimum deposit of $1,000 was recently cut by almost half. Nevertheless, even this amount and the absence of cent accounts "scare off" newcomers. The spread floats. The IG platform is not very user-friendly, but with lots of practice, you will manage it. It has little information on site, but the support team is eager to answer your questions. The broker has been a partner of the Traders Union for several years and is included in the Traders Union ratings list of Forex brokers. Therefore every active trader on IG Markets can use the rebate service to get partial compensation on his every trade.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Top 3 UK Forex Trading Platform for Beginners

For novice traders, beginning with a demo or cent account, or engaging in copy trading, can be an excellent method to learn and acquire experience. Demo accounts provide a risk-free environment for practicing trading strategies, using virtual funds. Cent accounts, on the other hand, enable traders to trade with small amounts of actual money, reducing risk while maintaining a genuine trading experience. Copy trading entails mimicking the trades of seasoned traders, enabling beginners to learn from their strategies and decisions.

Broker Demo Cent Copy Trading

eToro

Open an account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

OANDA

Open an account

Your capital is at risk.

IG Markets

Study review

5 Tips to Choose the Best UK Brokers

Novice traders may use the following 5 tips while choosing the best UK brokers:

Test Platform in Demo: Demo account would help novice traders to gain an in-depth understanding of the features of the trading platform. It also helps to understand the trading conditions.

Pay attention to Safety: Users should choose a broker that is regulated by tier-1 and tier-2 regulatory bodies like FCA, ASIC, and CySEC. Don’t choose a broker that does not have relevant approvals and licenses.

Pay Attention to the Reviews: You should read reviews of experienced and novice traders online. You may go through articles about the best brokers on Traders Union’s website before making a decision.

Test Research Options: The technical indicators, educational content, analytical reports, and charting tools play a crucial in the success of a Forex trader. Check if the trader you are going to choose has good analytical tools.

Explore Automation Tools: Automation tools such as Expert Advisor, Copy Trading, PAMM, and LAMM would help to execute trades without your physical presence. Choosing a broker that offers automation tools is always beneficial.

How to Check FCA Regulation?

Financial Conduct Authority (FCA) is a regulatory body that operates independently of the government of the UK. It is a tier-1 regulatory authority that monitors the conduct of 58,000 businesses in the UK.

The following are the steps a trader can use to check if a broker is FCA regulated. We have taken eToro as example to showcase how one can verify if the broker is FCA regulated or not.

Step-1: Go to the website of the broker and find out the FCA registration number.

Step-2: Go to https://register.fca.org.uk/, where you can find a section “Check information about a firm, or an individual at a firm”.

Step-3: Enter the FCA registration number or reference number, tick ‘frims’, and click the search button. If the broker is registered, the name of the broker would be displayed.

For example, the FCA Reference or registration number of eToro as per its website is 583263.

Is Forex trading legit in the UK?

Forex trading is completely legal and regulated in the United Kingdom. The Financial Conduct Authority (FCA) regulates forex brokers in the UK, ensuring that they adhere to strict standards and provide a secure trading environment for traders. The FCA requires that all forex brokers obtain proper authorization before offering their services and maintain adequate capital reserves to protect traders' funds.

Furthermore, all transactions must be conducted in accordance with applicable laws and regulations. The UK has some of the world's most robust laws and regulations governing forex trading. All transactions are subject to anti-money laundering rules, which require brokers to verify customers' identities and report suspicious activity. Additionally, all customer funds must be held in segregated accounts separate from broker funds for added security.

Forex Trading in the UK - A Full Beginner's Guide

What Is FCA UK?

The Financial Conduct Authority (FCA) is the conduct regulator for around 50000 financial services firms and financial markets in the UK and the prudential regulator for over 18000 of those firms. It regulates the activities of financial service firms, including Forex brokers, hedge funds, insurance companies, banks, and the London Stock Exchange, to ensure they are operating honestly and fairly.

The FCA also works to protect consumers by ensuring that firms are not engaging in any fraudulent or deceptive practices. The FCA has a range of powers, including the ability to impose fines on firms that breach its rules. It also has the power to suspend or cancel a firm's authorization if it believes that it is not meeting its obligations. In addition, the FCA can investigate any suspected misconduct and take action against those responsible. We also encourage investors to follow the FСA UK on social media - @TheFCA.

Is there some Forex trading limitation in the UK?

The FCA has imposed a ban on forex bonuses and promotions, which means brokers are not allowed to offer any kind of bonus or incentive to encourage traders to open an account or trade with them. The FCA has also imposed leverage limits on forex trading.

The maximum leverage available for retail clients is 1:30 for major currency pairs and 1:20 for non-major currency pairs. This means traders cannot use more than 30 times their own capital when trading major currency pairs and 20 times when trading minor currency pairs.

Brokers must also keep client funds in segregated accounts and maintain a minimum amount of operational capital, which currently sits at 1 million GBP, to ensure they can meet their financial obligations.

UK forex brokers must also be members of the Financial Services Compensation Scheme (FSCS), which provides compensation of up to £85,000 per person if a broker becomes insolvent or ceases trading. Finally, CFDs on cryptocurrencies are prohibited by the FCA due to market manipulation and volatility concerns.

Should I pay taxes as a Forex trader?

UK Forex traders are required to pay taxes on their profits from trading. Forex trading is considered a business, so the profits from forex trading are taxable and must be reported to HMRC (Her Majesty's Revenue and Customs). The way in which UK Forex traders report their taxes depends on how they trade.

If a trader is classified as speculative by HMRC, then any profits made are exempt from Income Tax and Capital Gains Tax (CGT). Speculative traders trade spontaneously without any consistent method, and trading is not their primary source of income.

However, if the self-employed trader is classified as an investor, then profits are subject to income, capital gains, or corporation tax. If you're a trader with gains below £50,000, you'll pay 10% in capital gains tax. If you make more than £50,000, you'll pay 20%. There's also the private investor, and gains are taxed as capital gains tax. However, you must own the asset for at least 12 months to pay for it.

What are Forex Trading Hours in the UK?

The Forex market is open 24 hours a day, 5 days a week, allowing traders to trade whenever they want. In the UK, trading begins at 8:00 AM local time and ends at 6:00 PM local time.

Asian Session

The Asian session forex time in the UK typically runs from 11:00 PM to 8:00 AM GMT. During this session, the most active currency pairs are those with the Japanese Yen (JPY) as one of its components.

London (European) Session

The London session forex time in the UK typically runs from 7:00 AM to 4:00 PM GMT. This is when the majority of trading activity takes place and when most major currency pairs are traded.

New-York Session

The New York session forex time in the UK typically runs from 12:00 PM to 8:00 PM GMT. During this session, the US Dollar (USD) is usually the most active currency pair.

How Can I Trade Forex in the UK?

To trade Forex in the UK, beginners should start by choosing a regulated Forex broker and verifying the available currency pairs. It’s crucial to understand spreads and commissions, consider the minimum deposit requirement, evaluate the trading platform, and ensure security and regulatory compliance.

Choose a Regulated Forex Broker

The first step is to select a reputable Forex broker regulated by a recognized authority, such as the Financial Conduct Authority (FCA) in the UK. Regulation ensures that the broker operates within the legal framework and provides a certain level of protection for your funds.

Verify Available Currency Pairs

Check the broker's offering of currency pairs to ensure they cover the ones you are interested in trading. Major pairs like EUR/USD, GBP/USD, and USD/JPY are commonly available, but it's essential to check if they provide the specific pairs you want to trade.

Understand Spreads and Commissions

Forex brokers make money through spreads (the difference between the buying and selling prices) or commissions. Understanding the cost structure and comparing spreads or commissions across different brokers is essential. Lower costs can have a significant impact on your trading profitability.

Consider the Minimum Deposit Requirement

Brokers often have a minimum deposit requirement to open an account. Consider your budget and choose a broker that aligns with your financial capabilities. Remember that a higher deposit may grant access to better trading conditions or additional features.

Evaluate the Trading Platform

The trading platform is the software provided by the broker to execute trades and access market data. Ensure the platform is user-friendly, offers essential features like charting tools and order types, and suits your trading style. Many brokers offer demo accounts, allowing you to test the platform before committing to real funds.

Ensure Security and Regulatory Compliance

Confirm that the broker has adequate security measures in place to safeguard your funds and personal information. Additionally, verify their regulatory compliance to ensure they adhere to industry standards and protect your rights as a trader.

Remember, trading Forex involves risk, and it's essential to educate yourself, develop a trading strategy, and practice risk management techniques. It's also beneficial to keep up with economic and market news that can impact currency prices.

Why Is the FCA Regulation Important?

The Financial Conduct Authority (FCA) is an independent government agency in the UK responsible for regulating the financial industry. It oversees around 50,000 businesses, sets standards for 18,000 firms, and supervises 48,000 firms prudentially. The FCA's role is to protect consumers, maintain industry stability, and promote competition among financial service providers.

By regulating the financial services industry, the FCA ensures fair markets, financial stability, innovation, and competition. Its aim is to create honest and fair markets for individuals, businesses, and the overall economy, ensuring consumers receive a fair deal and promoting market integrity. The FCA's regulation is crucial for safeguarding consumers and maintaining a healthy financial environment in the UK.

Is MetaTrader legal in the UK?

In the UK, it’s legal to use MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are trading platforms developed by MetaQuotes Software Corporation. These platforms are widely used in the financial industry and offer mobile, web, and desktop versions for trading.

MetaTrader 4 (MT4)

MetaTrader 4 (MT4) is a well-known electronic trading platform used by online retail foreign exchange traders. It was released in 2005 and gained popularity for its ability to automate trading through user-written scripts and robots. Despite being an older platform, MT4 remains highly popular and is supported by many Forex brokers in the UK.

MetaTrader 5 (MT5)

MetaTrader 5 (MT5) is the newer version of the MetaQuotes software and has gained significant popularity worldwide. However, MT4 still holds the title as the more widely used platform. When choosing a broker that provides access to MetaTrader 5, there are various options available with different fees, costs, and regulations.

Brokers that offer MetaTrader 4 are often referred to as MT4 brokers, while those offering MetaTrader 5 are known as MT5 brokers.

What Are the Best Metatrader Brokers In the Uk?

In the UK, numerous MetaTrader brokers offer reliable trading services. While many good options are available, some of the best MetaTrader brokers in the UK include Admiral Markets, RoboForex, and Tickmill.

Admiral Markets is a well-established broker known for its competitive spreads, a wide range of tradable instruments, and advanced trading tools. RoboForex is recognized for its diverse account types, including ECN and Pro accounts, along with competitive pricing and strong regulatory compliance. Tickmill is renowned for its low-cost trading, fast execution, and a range of educational resources for traders.

Note that the best MetaTrader broker for an individual may depend on specific trading preferences, account types, regulatory requirements, and other factors. Traders should conduct thorough research and consider their own needs when selecting a MetaTrader broker in the UK.

Our Methodology

Traders Union (TU)‘s evaluation criteria comprise over 100 parameters. It focuses on evaluating a trader against aspects such as safety, financial stability, reliability, costs, and technology. To check if the broker is safe, TU evaluates the licenses and authorizations that the broker received from regulatory bodies like FCA, CySEC, and ASIC. While evaluating the financial stability of the broker, TU focuses on areas such as solvency, liquidity, revenue growth, customer retention rate. TU evaluates customer reviews, customer satisfaction rate, and quality of customer service to rate the broker on the reliability aspect. When evaluating the costs, TU considers commissions, withdraw/deposit fees, and inactivity fees.

Summary

Not all Forex brokers in the UK are safe, reliable, and free. Traders should carefully analyse brokers before choosing a suitable one. The 30 best Forex brokers identified in this guide are regulated by tier-1 regulator FCA and other regulators such as CySEC, ASIC, FINMA, and FSC. These 30 brokers are reliable because of their good customer support and super-fast trading speeds. Novice traders are advised to check if the broker is FCA authorized before registering with it. The tips such as testing the trading platform in the demo, paying attention to safety, reading reviews, testing research options, and exploring automation tools would help novice traders choose a suitable broker.

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).

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.

Anton Kharitonov

Anton Kharitonov,

Traders Union Financial Analyst

FAQs

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.

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.

Should I use Passive Investment tools?

Yes, you can use passive investment tools if you don’t have time to keep track of the forex market. Passive tools help you automate trades and execute trades in your absence.

Which are the best currency pairs for UK customers?

The most traded currency pairs in the UK are GBP/USD, EUR/USD, and USD/JPY.

Can I deposit money to the brokerage account through my credit card?

Yes, most brokers accept deposits via credit cards. We suggest you visit the website of the broker you are using to get more details on payment methods.

Is Copy Trading good?

Yes, copy trading is the best alternative to generate decent revenues from Forex trading for novice investors who don’t have sufficient knowledge of the Forex market.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.

Mikhail’s motto: Learn something new and share your experience – never stop!

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.

Olga’s motto: Do well and you’ll be well!

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.