However, the core reason why Pepperstone is best for MetaTrader 4 is that it has the fastest execution speeds we’ve tested. Without authorisation from the FCA, no forex broker can legally provide financial services in the UK. For trading platforms, OANDA provides several, including the leading third-party platforms MT4 and TradingView, but it is the OANDA Trade platform that interests us.

Will UK Forex Brokers Keep My Funds Safe?

Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. The other type of spread is a fixed spread which is popular for scalping since scalpers rely on predictable prices. EToro is known for its Copy Trading features and with over 20 million users, it is one of the largest copy-trading communities. OANDA is our top pick for the most trusted broker in the UK due to the use of regulators in many territories. Tier-1 regulators include FCA, NFA/CFTC, and ASIC, showcasing its reliability and trustworthiness.

Currency Pairs and Other Instruments

FxPro has exceptional customer service that answered my technical questions quickly and gave solid reasoning, highlighting that the representative was knowledgeable. The broker provides customer service through live chat, email, and phone, making reaching out to them immediately easy. Using a demo account from XTB is an ideal method if you are a beginner learning to trade, as it provides a risk-free environment with live price feeds. XTB provides over 4,500 markets and allows you to demo their xStation5 platform or MetaTrader 4.

Conclusion On Who We Rated The UK Best Forex Broker

If you are https://www.euronews.com/business/2024/09/17/how-to-make-finance-great-again-trumps-new-cryptocurrency-debuts looking for a solid Forex demo account, XTB is our top pick with its generous balance of £100,000, way more than you need to practise with. You can use the demo account for free on the MetaTrader 4 and XTB’s xStation5 platforms. We like that the account does not expire as long you don’t leave the account dormant for 30 days. This tool is beneficial if you are a beginner and can be used to help you learn technical analysis and find new trades. We also like to test the execution speed of a broker as it is a good indicator of the broker’s quality and the likelihood of getting slipped, which can be costly in volatile markets. Trading CFD is a means to trade the price movement of financial markets such as the Forex markets without owning the underlying asset.

Which Forex Broker Has The Best Trading App?

To choose a UK forex trading platform, you should go through the options your broker offers; most commonly, they’ll be MetaTrader 4, MetaTrader 5, or TradingView. Ensure the forex trading platform has the indicators and tools your forex trading strategy requires. Pepperstone is the best MT4 forex brokers, providing additional tools, like Capitalise.ai, which allows you to build your own automated strategies without code.

Best Forex Brokers In The UK

We think this tool is helpful if you can’t quite determine the current market strength, and it can give you an idea based on other trader’s orders. If copy trading is a priority for you, then we think eToro is best in class for the tools. However, if you want to research and trade the markets yourself – you should consider other choices like Pepperstone or City Index.

Which Is The Best Forex Broker In The UK?

To trade forex in the UK, you must open an account with a forex broker and use an online trading platform to place your trades. You can choose a live account that risks your funds or practise on a risk-free demo account. If you are using TradingView for the first time, you can customise the platform and choose from thousands of indicators available for free. You’ll find that Eightcap offers some of the lowest average spreads on TradingView, where our tests found the EUR/USD average of one pip on the standard account. The UK forex broker with the tightest spreads is Pepperstone on their RAW account; based on our tests, they had an average of 0.1 pip spread. Low-spread forex brokers lower your trading costs overall, saving you money long-term and boosting your profits.

• We like that FxPro provides 24/5 customer support via Live Chat, and connecting with support took less than 30 seconds when we tested it.
• We think this pairing of fast execution speeds and zero-pip spreads on EUR/USD makes Pepperstone an excellent candidate if you scalp the markets.
• The other type of spread is a fixed spread which is popular for scalping since scalpers rely on predictable prices.
• Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.
• Other brokers, such as OANDA, Saxo Bank and VT Markets, were considered in this review and may be featured on our other UK comparison page.
• How much you pay depends on your personal circumstances, but because you have to pay the tax, you can write off your losses against the profits – reducing your tax liability.

A nice added touch https://momentumcapital.online/ was the haptic feedback when switching between the charts, which is useful if you accidentally swipe to another chart. This feature gives you a quick overview of how much risk the copy trader takes on, which you might find useful to avoid high-risk traders. EToro has the most user-friendly way to simplify copy trading with its eToro CopyTrader platform, making it accessible regardless of your knowledge of the markets.

IG Group offers the most extensive range of financial markets in the UK, boasting over 17,000 financial products in its catalogue. This wide choice includes popular markets like forex (GBP/USD), stocks, commodities, and indices with the addition of more advanced products like etfs, futures and options trading. When looking for a broker, you must research regulated brokers, which provides the https://consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams foundation of your search.

A spread is the difference between a currency pair’s buy and ask https://www.forex.com/en-us/ price; the lower the spreads are, the less it’ll cost you for each trade. The easiest way to verify if the FCA authorises a forex broker is to look at the bottom of the broker’s website, which shows you the broker’s FCA license number. If a broker does not have one, they are not regulated by the FCA, as this is a requirement for all CFD brokers to display their license on all promotional material (including websites). Combining the low spreads with a small initial deposit of $150 makes City Index accessible if you want to break into forex trading on a smaller budget.