The demo account is completely free for up to 4 weeks, and traders get £100k of virtual funds with which to start trading on 1500+ CFD markets, including forex, indices, commodities, and shares. Copy Trading can help increase profitable trades by relying on the experience and knowledge of other traders. Trading forex is tightly regulated by the FCA (Financial Conduct Authority) in the UK, and therefore you can rest assured that all the forex trading platforms I have listed here fall under that regulation. The London forex market typically offers lower spreads due to the high volumes traded, and certain periods have higher volatility, for example, the 8am to midday overlap of the New York and London markets. We also considered other features such as the choice of spread betting and contracts for difference (CFDs) for forex trading and the option of trading on third party platforms (such as MetaTrader and TradingView).

• We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
• The difference is that you have complete visibility of the order books at the trading exchange.
• As a ‘mobile-first’ brokerage, this British firm has poured significant time (and money) into developing a powerful, intuitive app that offers a pared-down interface without skimping on trading tools.

That’s why it is critical to only use a trusted forex broker that holds a valid regulatory status with the FCA. The broker is a leader when it comes to education, thanks to the ease of use across its flagship platform. Beginners also benefit from IG Academy, a dedicated mobile app with educational resources; content from DailyFX, a blog-style news site; and access to IG Community, a social network resembling an advanced forum. Although there are more than 180 different currencies across the world, forex brokers do not offer the option to trade in all of these. Put simply, investors hope to make a profit from selling a foreign currency at a higher price than they paid for it. Currencies are traded in pairs (for example, the pound to the US dollar) so the profit (or loss) will depend on the movement in the exchange rate of the two currencies.

Unlimited access tofree education

Our execution speed tests also found the broker to be the second fastest. In conjunction with the wide range of tradable instruments and London-based customer support, it cemented the broker’s number 1 spot. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they london forex brokers will not result in losses. To determine the best forex brokers for professional traders, we broke down each broker’s active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals.

Like any financial markets regulator, the FCA’s role is to protect investors (including forex traders) and to uphold market integrity within the U.K. The FCA is a strict regulator with stringent rules and regulations, which has contributed to our ranking of the FCA as a Tier-1 regulatory agency. Learn more about regulators and our tiered ranking system by visiting our Trust Score page. Overall, London-based forex brokers prioritize the safety of their clients’ funds through comprehensive regulatory compliance and risk management practices. As a trader in the foreign exchange market, you’ll be pleased to know that London-based firms offer a wide range of services to cater to your needs.

Good research and educational offering, with courses, lessons and webinars run by the City Index Academy. Good research and educational offering, with courses and live sessions run by the IG Academy. You should always check with the product provider to ensure that information provided is the most up to date. You will need to use either the IG platform or the L2 dealer to trade with DMA.

• As part of Europe, Great Britain follows the ESMA guidelines on CFDs, spread betting and Forex Trading.
• Once you’ve completed the required trading volume, you can convert the bonus credit to your account balance.
• On the other hand, you should choose ZuluTrader if you wish to copy trade.
• Once you have a clear understanding of your risk tolerance, you can apply it to your forex trading decisions and strategies.
• Each of these accounts has a unique take on commission fees, minimum deposits, leverage, and swap fees.

A swap-free account is available if you are of Islamic faith and wish to trade CFDs. You will need to make a minimum deposit of $1000, but unlike many brokers, which widen the spread or charge an administration fee, eToro does not divert swap fees to another type of charge. Plus500 is best for traders wanting access to a guaranteed stop loss or who want to be mobile when trading. The Plus500 mobile app seamlessly integrates with the web browser’s version allowing for easing switching between the app.

FXCM’s Active Trader Account means individuals can trade at institutional-grade pricing with spreads as low as 0.2 pips on major forex pairs. It is possible as the broker price matches the best quotes top-tier liquidity providers offer. If you use the Trading Station platform, you can see the depth of market (DOM) and view multiple levels of liquidity at each price point. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.

Average spreads on the forex pair EUR/USD are 0.0 to 0.3 pips with a commission of £4.59 round turn per 100k traded. To further reduce trading costs, the broker offers an Active Trader program for monthly volume above 200 lots with rebates on commissions starting from 15%. You can compare the Razor vs standard account to see which best suits your needs.

Plus500: Trading forex via CFDs

Whether you pick MT4 (fixed or variable) or MT5, this account has no commission costs. Remember what I was saying about the importance of a well-balanced portfolio? If you understand the importance of branching out into other asset classes but prefer to stick to forex or non-crypto CFDs, you’ll need a broker with access to a wide range of markets. Specifically, you’ll need to look for a minimum of 50 currency pairs, and some combination of indices, options, shares, exchange-traded funds (ETFs) and options.

CMC clients can go long or short in trades within Forex, index, treasury, and commodity markets. Pricing is favourable as gains are subject to fewer taxes than other financial instruments, plus no commission fees as the broker is compensated through the spread. Our comparison of the best forex brokers led to a standout regarding the Pepperstone standard account, which has the lowest published spreads of any FCA-regulated broker.

Is it safe to trade forex in the UK?

Australian-based Fusion Markets don’t have a marketing budget, all their savings go into delivering the best quality product possible. To trade with Fusion Markets, you can choose between the MetaTrader 4 and 5 trading platforms, and both their standard and raw accounts offer top value. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Requirements for FCA regulated brokers

In addition to no commission costs, there are no management fees, rollover fees, and brokerage fees. From the UK and Hong Kong to the USA, there are no limits on the amount you can trade, which can be in bulk or in fractions. As a bonus, eToro also includes free stock analysis from a team of experts.

FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. With 24/5 customer support via email or over the phone, you can manage your account with ease. Plus, you can get up to a 50% deposit bonus on a maximum $500 deposit. Scalpers, swingers and long-term traders will find this platform to be more than helpful. With more than just forex trades on tap, Forex.com also offers traders opportunities to trade key indexes or even cryptocurrencies.

Leveraged products such as contracts for difference are highly speculative and carry the additional risk of losing money beyond that originally staked. We liked the propriety platform based on how easy it was to use and is recommended for beginners. It’s available on desktop, tablet and mobile trading apps and via web browsers with mobile shortcuts for faster trading. A range of MetaTrader 4 UK brokers and MT5 is growing in popularity, but if you choose Swissquote, their Advanced Trader platform is best. This platform gives traders the best the broker can offer, from charting and instruments to execution speeds. In our UK copy trading comparison, we found that it was clearly the best.