Best Forex Brokers in the UK

Read our Advertiser Disclosure.
Contributor, Benzinga
September 12, 2023

Want to skip to the answer? Benzinga readers love eToro or as the best forex brokers in the UK!

The stock market is big, but the forex market is much bigger. In fact, with a daily trading volume of over $5 trillion USD, forex is the largest financial market in the world and that can mean a massive opportunity for traders - whether you're in London, Birmingham, or Manchester. Many of the leading forex brokers in the U.K. are based overseas.

This isn’t a bad thing. It means that in addition to being regulated by the Financial Conduct Authority (FCA), overseas brokers may also be subject to local regulation, adding an extra layer of oversight.

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.

12 Best Forex Brokers in the UK

Take a look at our favorite brokers in the UK.

1. Best for Beginners: eToro

  • securely through eToro Forex's website
    securely through eToro Forex's website
    Best For:
    Demo Accounts
    Read Review

    CFD trading is not available to U.S. users. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro is a multi-asset, global forex broker that has established itself as one of the leaders in the industry. Based in Cyprus and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, eToro offers traders in the UK an impressive range of products and services to choose from.

The company’s philosophy is to make trading accessible to everyone, regardless of experience or financial background. It offers a range of trading services, including a comprehensive selection of forex pairs and CFDs, as well as an excellent social trading platform. In this review, we’ll take a closer look at the services that eToro has to offer and what makes it stand out from other brokers.


  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades


High non-trading fees

2. Best for Ease-of-Use: FXCC

FXCC offers support for forex and CFD investors, allowing up to 70 currency pairs. In addition, 8 popular cryptocurrencies are available, spot palladium, gold and silver. You can even invest in Brent and WTI oil.

FXCC sits at number 1 on our list with a wide range of features, including:

  • MT4 trading platform
  • Extremely low pips
  • 24/5 customer service via live chat, phone, email or fax
  • Multilingual support

In addition to the expansive list of trading options, you also have analytical and charting tools that will point you in the right direction. Regulated, secure and diverse, FXCC will help you get started or simply grow as a forex investor.


  • ECN/STP broker model
  • 100% first deposit tradable bonus
  • Free Virtual Private Server (VPS)
  • Supports MetaTrader 4
  • Has an offshore subsidiary for high leverage trading


  • Does not accept U.S. citizens as clients
  • Only supports 1 trading platform

3. Best for Non US Forex Trading: AvaTrade

AvaTrade is a broker with a large reach from Europe and South Africa to the Middle East, Australia, the Caribbean, Japan and much more. You can easily trade CFDs based on several assets like stocks, forex, indices, crypto, and much more. 

AvaTrade is unique in that it works best for both beginners and advanced traders who want to volume trade. You can get service in 20 languages, and you will have more than enough variety to keep your portfolio both up-to-date and profitable.

British traders will have more options to build their portfolios, and this could turn into a wonderful place where you can experiment with unique asset classes before allocating more funds to the cause. 


  • Those who wish to receive service in other languages outside of English can do so easily
  • The platform allows British traders to invest more easily instead of hunting for a more international platform


  • As with any investment, remember that you are taking a risk and you must be especially careful with CFDs

4. Best for Execution: IG Markets

  • securely through IG Markets's website
    securely through IG Markets's website
    Best For:
    Forex Execution
    Read Review

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

IG Markets has quite a few trading options and powerful platforms. Use MT4 or the proprietary platform IG Group created for its customers. You get low spreads on your investments, and the minimum deposit is only $250. Try a demo account if you want to learn more about forex investing, or reach out to the customer service team 24/5.

You can also partake in:

  • Autochartist
  • Technical analysis tools
  • Several indicators

When you place orders, you can set your bracket and limit orders any way you like. In short, the site makes it easy for you to protect yourself, especially when investing in volatile assets. Plus, IG Markets is truly a global brand, offering multilingual support.


  • Easy-to-navigate platform is easy for beginners to master
  • Mobile and tablet platforms offer full functionality of the desktop version
  • Margin rates are easy to understand and affordable
  • Access to over 80 currency pairs


  • Customer service options are lacking
  • No 2-factor authentication on mobile

5. Best for Experienced CFD and Forex Traders: Admirals

  • securely through Admirals's website
    securely through Admirals's website
    Best For:
    Experienced Forex and CFD Traders
    Read Review

    74% of retail CFD accounts lose money.

Admirals is a place where you can invest in a host of assets like forex, stocks, indices, commodities, ETFs, crypto and bonds, along with the option to use their PC, MAC, mobile app or the web trader. You can even use MT4 or MT5 to access the markets and also try:

  • Demo Trading
  • Copy Trading
  • Fractional Investing
  • Islamic Accounts
  • Asset Management Tools and More

Investors can avail themselves of leverage up to 1:500, very competitive spreads, charting/data and over 8,000 assets that allow you to focus on diversity within your portfolio.


  • Because you can access multiple markets, you can build your portfolio all in one place
  • There are tools for those managing money for clients, businesses, etc.


  • Please remember that CFDs can be very risky and might not be right for you

6. Best for Multiple Trading Platforms:

  • securely through NON US's website
    securely through NON US's website
    Best For:
    MetaTrader 4 Users
    Read Review

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. is regulated by several jurisdictions, including the U.K., U.S., and Japan, which ensures that the company’s business activities are well-monitored, a plus for traders of any level.

With more than just forex trades on tap, also offers traders opportunities to trade key indexes or even cryptocurrencies.

An expansive learning center, packed with educational information, coupled with three trading platforms ranging from advanced to mobile, makes a solid choice for traders of any level of expertise.

Tight spreads help reduce trading costs while 24-hour live support ensures that questions or issues can be quickly resolved.


  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1


Cannot buy and sell other securities (like stocks and bonds)

7. Best for Active Traders: Interactive Brokers

IBKR offers 100+ currency pairs on 23 currencies: USD, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, ZAR and KRW (with special conversion functionality).

The FXTrader provides an optimized trading interface with tools built for the currency markets, including real-time streaming quotes, up and down indicators, trading volumes, pending trades, executions, positions, and average price plus P&L.

Large-Sized Order quotes are specific to the order quantity entered are generated based upon an aggregation of quotes provided by interbank dealers to help get the best execution possible and minimize market impact.


  • Comprehensive, quick desktop platform
  • Mobile app mirrors full capabilities of desktop version
  • Access to massive range of tradable assets
  • Low margin rates
  • Easy-to-use and enhanced screening options are better than ever


Trading platform may be intimidating for new investors

8. Best for All Levels of Traders: Moneta Markets

Moneta Markets is designed for all traders from beginners to experts. Using MT4, MT5, WebTrader and AppTrader, you can use this platform for either its access to the markets, its analytical tools or both.

As you get to work on Moneta Markets, you also enjoy:

  • No deposit fees
  • Low spreads
  • Islamic accounts
  • A wide range of financial tools

There are over 45 FX pairs, 15 indices, 15 commodities markets, over 135 CFD options and a wide range of research tools. You can easily learn about these investments as you search the site, and you can continue to expand or diversify your portfolio on the go.

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.


  • 3 platforms: MT4, MetaTrader app and next-gen ProTrader
  • Wide range of financial instruments
  • Outstanding analytical and educational tools
  • Very competitive low spreads
  • 50% deposit bonus on $500+ live trading account
  • $0 deposit fees
  • It does not require any download


Offshore regulators may not guarantee adequate protection

9. Best All-in-One Platform: Swissquote

  • securely through Swissquote's website
    securely through Swissquote's website
    Best For:
    Contract for Difference (CFD) Traders

When you want to invest in the foreign currency markets, you can turn to Swissquote, a firm that went public in 2000 and offers a massive range of tradable assets. Using Robo advisors and quantitative management techniques, you get quality results from the platform.

Designed for financial professionals, active day traders, CFD traders, derivatives traders and anyone who wants powerful trading options and elaborate tools, it works for anyone who is serious about building their portfolio and growing wealth. You can set up private and business accounts, and you will benefit from several features like:

  • MetaTrader 4
  • MetaTrader 5
  • Autochartist
  • Plugins
  • Advanced Trader

With 3 account types and reasonable minimum balances, you can also trade stocks, ETFs, OTC Swiss derivatives, structured products, bonds and even themed products.


  • Wide range of tradable assets
  • Excellent trading platforms
  • Quantitative asset management (QAM)
  • Robo-Advisor for automated trading


  • High trading fees
  • Not all educational resources are free

10. Best for CFD Traders: Axi

Formerly known as AxiTrader, Axi allows you to trade CFDs in a safe environment, even going so far as offering a demo account that allows you to work with $50,000 in virtual currency. The platform works off Meta 4, and it also offers:

  • Copy trading to make your life a little easier
  • Educational tools
  • AI and Machine Learning tools that learn from you and help you make better trades

Plus, you can trade a number of different assets, including:

  • More than 70 forex pairs
  • 50 stocks from the U.S., UK. and EU markets
  • Leverage trading
  • More than 30 indices
  • Precious metals
  • Oil
  • Commodities
  • Over 30 leading cryptocurrencies

Fee are competitive with low trading fees, $10 monthly maintenance fee for inactive accounts and no deposit or withdrawal fees.


  • User-friendly MetaTrader 4 platform
  • Copy trading to learn from professional traders
  • Economic calendar with country and category filters for news of economic affairs and economic indicators from across the globe
  • Good educational material including a demo account, tutorials and videos
  • Advanced analytics driven by AI and ML


  • Customer service 24/5

11. Best for MT4 and MT5: Eightcap

Eightcap Forex was founded in 2009 in Australia and it appears serious about providing its customers with the best service possible. In fact, the company's stated mission is, “to deliver an unrivaled trading experience to our clients and provide you with one of the best trading environments in the financial world”. The platform offers traders the following:

  • Users can use MT4 and MT5 trading platforms
  • An easy-to-use interface that new users can learn easily
  • An award-winning platform (Global Forex Award's 2020 winner of Best Global Forex MT4 Broker)
  • Educational resources for both new and experienced traders

You can trade the following assets on Eightcap:

  • 200 financial instruments such as forex, commodities, indices, and shares
  • virtual money with a demo account to familiarize yourself with the platform
  • zinc
  • Nichol
  • NASDAQ Share CFDs
  • German Share CFDs
  • LSE Share CFDs
  • ASX Share CFDs

Eightcap charges a $3.50 charge per trade on top of the dealer spread.


  • MetaTrader 4 and 5 trading platforms
  • Low forex dealing spreads
  • Free deposit and withdrawals
  • Up to 500:1 leverage available to some traders


  • No negative balance protection

12. Best for Easy-to-Use Forex Platform

  • securely through Trade Nation's website
    securely through Trade Nation's website
    Best For:
    Easy-to-Use Forex Platform
    Read Review

    67.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

When you get started with Trade Nation, you can invest from anywhere in the UK, access data that helps you make wise decisions, get competitive spreads and excellent customer support. With access to over 1000 markets, there’s something for everyone.

The site itself is easy to use and manage, and you can even start a demo account when you first join. Using this site, you can diversify your portfolio with. range of CFDs based on stocks, indices, crypto and much more, along with the forex pairings that you have come to love and appreciate.


  • With access to market data and insights, you can learn more about the CFDs and currencies you’re trading before making any moves
  • You can learn how the platform works without spending your money


  • The platform may not have all the CFDs and currency pairs that UK investors are looking for

How we Made our Selections for Best Forex Brokers in the UK

Here is the methodology behind our top picks for forex brokers in the UK.


Unlike stock trading, forex trading isn’t usually burdened by commissions or similar fees. Instead, brokers are compensated by using a spread, a gap between the bid and ask prices, that allows them a profit on each trade.

While not the only consideration, spreads matter because they affect the profitability of trades. Wider spreads can have the effect of higher trading costs. Rollover fees or swap rates, which represent the difference in interest rates between the two currencies in a pair held overnight aren’t considered as a cost because a rollover fee can be either a fee or a payment to the trader. They work both ways.

FCA Regulation

While the trades themselves aren’t monitored, brokers that are FCA-regulated provide an extra margin of safety because their business practices are monitored.

There are examples of forex brokers that have become insolvent due to rapid changes in currency prices and exposure through leverage granted to traders and margin calls that haven’t been covered. FCA regulation assures that funds for trading accounts are kept separate from the broker’s own funds.

Cash Management

The ease of funding trading accounts and getting your money back out are important considerations. Forex trading benefits from the ability to manage balances nimbly and to fund your account in a number of ways. When it’s time to take profits out, that process should be equally simple.

Trading Tools

Forex traders come in all forms, from beginner to expert, and everywhere in between. Trading tools that help traders to understand price movements or the mechanics of a trade are expected. Brokers or trading platforms should have charting, historical data, news, and other tools available for traders.

Customer Support

When a problem or question arises for traders, it’s important that there’s a way — or several ways — that traders can get support. The forex trading market has evolved, making the platforms or brokers with better trading tools more appealing.

Final Thoughts on Forex Brokers in the UK

Massive swings aren’t unusual in forex trading. Fortunately, many platforms offer demo accounts that allow traders to learn at their own pace or to test trading strategies without the risk of using their own capital.

Whether you’re new to trading or a seasoned pro, whether you’re a high-leverage risk taker or a more conservative trader, there’s a forex broker that’s the best fit — and in many cases, the broker you choose will continue to meet your needs as your account grows.

Frequently Asked Questions


Is it legal to trade forex in the UK?


Yes, it is legal to trade forex in the UK.


Is it safe to trade forex in the UK?


The UK offers stringent oversight oversight into forex trading, so it is safe to trade forex in the UK as long as you use a liscensed forex broker.


Where can I find a liscensed forex broker in the UK?


You can find a liscensed forex broker in the UK by looking at the list above.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with