In order to trade successfully, it is very important to choose the right broker. in the UK, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best forex brokers for swap-free trading in the UK 2024. You can compare their features and trading conditions.
1
FBS - Best for swap-free trading in the UK
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
👍 Advantages of trading with FBS for traders from the UK:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from the UK:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
2
TeleTrade - Best for swap-free trading in the UK
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders from the UK:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders from the UK:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
3
FxPro - Best for swap-free trading in the UK
FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.
👍 Advantages of trading with FxPro for traders from the UK:
•Negative Balance Protection of a client on a real account is a unique broker service. It has an automated transaction monitoring and a risk management system, the capital is guaranteed not to go into a negative balance;
•insurance of client funds at the expense of the broker participation in an investor compensation fund;
•beginner traders will be able to access tested advisors;
•a full package of services is available to the client regardless of the balance of his account;
•VIP account holders are offered a personal manager and get a Free VPS;
•company capital exceeds 100 million euros;
•offers swap-free accounts for customers whose religious beliefs do not permit swapping eg. Islamic traders;
•the reliable trading environment provided by the competent educational and research department.
👎 Disadvantages of FxPro for traders from the UK:
•it is not the best choice for beginner traders who are looking for their first broker as the minimum deposit of $100 is considered high;
•difficulties registering in an affiliate program.
4
NordFX - Best for swap-free trading in the UK
NordFX is an international company founded in 2008. Over the years, the broker has been awarded over 50 prestigious awards and various prizes. You can find below a shortlist of the company's achievements over the past decade. In 2020, NordFX received the “Best Platform for Central Asset Accounts” award. Earlier in the year, its affiliate program received this award as well as the social trading platform award. According to the Masterforex-V Academy, NordFX became the best world broker in 2019. In 2018, it was declared the Best Broker in Asia. Since 2011, its bonus programs, promotions, and partner programs have regularly been recognized as the best in Asia. The high quality of service was noted and NordFX was recognized as the “Best Forex broker in China” for the quality of its dealing. NordFX operates in nearly 190 countries and has over 1.25 million trading accounts. The company offers services for active and passive trading on the Forex market. It operates under the jurisdiction of the British Virgin Islands.
👍 Advantages of trading with NordFX for traders from the UK:
•you can trade on Forex not only with currency pairs, but also with cryptocurrency, gold and silver, major stock indices (including Dow Jones, Nasdaq, Nikkei), as well as oil, stocks, etc.;
•the leverage is up to 1:1,000.
•desktop and mobile versions of MetaTrader 4 and MetaTrader 5 platforms;
•deposit from $10;
•spreads from 0 pips;
•flash order execution that takes 0.5 seconds;
•deposits in US dollars, bitcoins, ethereums;
•PAMM service;
•copy trading;
•investments in shares of world leaders: Apple, Ferrari, and Boeing, Coca-Cola, Visa, Google, Microsoft, Alibaba, etc.;
•comprehensive theoretical underpinning: analytics, news, education portal containing hundreds of materials (text, graphics, video);
•multilevel affiliate IB program with the ability to earn up to 65% commission.
👎 Disadvantages of NordFX for traders from the UK:
•technical support service works only 5 days a week.
5
AvaTrade - Best for swap-free trading in the UK
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 10 countries. It currently has over 300, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC, 406684), the Japanese FSA ( 1662), and the South African FSCA ( 45984). AvaTrade holds accreditation by the Central Irish Bank ( C53877 ), the Abu Dhabi Financial Services Regulatory Authority (190018), and the British Virgin Islands Financial Services Commission ( SIBA/L/13/1049), CySEC ( 347/17). AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 1,200 tools to customers.
👍 Advantages of trading with AvaTrade for traders from the UK:
•a wide range of trading instruments;
•there is a license for the provision of services on the territory of 5 continents;
•customer service operates around the clock and provides competent assistance to users in 14 languages;
•a wide choice of convenient trading platforms;
•ability to trade from mobile devices;
•availability of an account for representatives of Islam (swap-free);
•for reliable storage of customer funds, the broker uses a segregated account;
•option for automated trading using trading advisors, indicators, and other analysis tools;
•no restrictions on trade and scalping;
•availability of training materials and conducting webinars for beginners and experienced traders.
👎 Disadvantages of AvaTrade for traders from the UK:
•the site interface is not user-friendly;
•customer service efficiency and response time
•trading terminals are prone to occasionally freeze.
TOP 5 Comparison
This table makes it easy to compare the best forex brokers for swap-free trading in the UK for 2024 by placing their information side by side all in one place. The table includes the categories that are most important when deciding on a broker to work with. The data contained in this table is verified and only includes the most reputable brokers.
| FBS | TeleTrade | FxPro | NordFX | AvaTrade | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, Mobile Trading |
MT4, MT5 |
MT4, Mobile Trading, MT5, cTrader, FxPro Edge |
MT4, MT5, Mobile Trading, Zulu Trader, Integral |
MT4, Mobile Trading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option |
|
Min deposit |
$1 |
$1 |
$100 |
$10 |
$100 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:200 |
From 1:200 |
|
Trust management |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0.2 points |
From 0.8 points |
From 0 points |
From 0 points |
From 0.9 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution |
Instant Execution |
|
No deposit bonus |
$5 |
No |
No |
$8 |
No |
|
Cent accounts |
Yes |
No |
No |
No |
Yes |
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
FBS Commissions and Fees
The experts at Traders Union checked the broker for trading and non-trading commissions. In the category of trading commission, the company's spread was considered, and as a non-trading commission, various additional fees for withdrawing funds from the account were considered.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
From $1.7 |
No |
|
Cent |
From $1.3 |
No |
TeleTrade Commissions and Fees
Our analysts analyzed the broker’s trading and non-trading fees. The first was the company's spread, the second was additional fees for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard ECN |
$17 |
No |
|
Professional NDD |
$9 |
No |
|
Sharp ECN CENT |
$2 |
No |
|
Cryptocurrency account |
$3 |
No |
FxPro Commissions and Fees
Traders Union professional team has analyzed FxPro trading conditions for commissions. For comparison and reference convenience, the results have been presented in the table.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
FxPro MT4 Instant |
From $10 |
No |
|
FxPro MT4 Fixed |
From $5 |
No |
|
FxPro MT5 |
From $5 |
No |
|
FxPro cTrader |
From $3 |
No |
|
FxPro Platform |
From $1 |
No |
NordFX Commissions and Fees
NordFXtrading conditions were reviewed by Traders Union analysts for the presence of explicit and hidden commissions. There is no commission for replenishment; commission for withdrawal depends on the type of account and in some cases, it is also absent.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Fix |
From 2 pips |
No |
|
Pro |
From 0.9 pips |
No |
|
Zero |
From 0 pips |
0.0035% for the transaction (in each direction) |
AvaTrade Commissions and Fees
The broker has been checked by our experts for the existence of explicit and hidden commissions, in particular a commission for trading volume and withdrawal of funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
From 0 to 20 US dollars, depending on the platform |
No |
Summary
Many brokers are available for traders from the UK, but not all of them offer good conditions. In this review, TU experts chose the Best forex brokers for swap-free trading in the UK 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Forex Brokers For Swap-Free Trading in the UK
| FBS | TeleTrade | FxPro | NordFX | AvaTrade | |
|---|---|---|---|---|---|
|
Overall score |
8.98 |
8.92 |
8.74 |
7.1 |
7.16 |
|
Execution of orders |
9.5 |
3.21 |
8.25 |
5.45 |
8.5 |
|
Investment instruments |
6.96 |
6.7 |
8.9 |
7.36 |
9.5 |
|
Withdrawal speed |
9.57 |
7.79 |
6.5 |
7.43 |
7.2 |
|
Customer Support work |
7.58 |
8.41 |
8.9 |
5.06 |
7.9 |
|
Variety of instruments |
7.02 |
8.75 |
9.27 |
7.67 |
10 |
|
Trading platform |
9.03 |
8.29 |
9.2 |
7.35 |
6.8 |
|
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FAQ
What commissions and fees should I take into consideration when I am choosing a broker?
The commissions and fees in the financial markets are divided into trading and non-tradings ones. Trading fees are the fees that are charged directly during trading (spread, commission per lot, etc.), while non-trading fees are the ones charged outside the trading process (for example, account fee, inactivity fee, deposit and withdrawal fee).
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
What is a demo account and why is it important?
On a demo account, you trade by using virtual funds. It is important to choose a broker offering a demo account both for beginners, who are only learning, and for experienced traders, who can use this account type to test new strategies or EAs risk-free.
Best Forex Brokers For Swap-Free Trading by Countries
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Team that worked on the article
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.
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.