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Best Forex Brokers In The UK for 2025

Choosing a reliable, FCA-regulated forex broker is an important step for UK traders in 2025. This guide compares the best platforms on key factors like security, fees, and trading features, making it easier to find the right fit for your needs.

SpreadEX

FX Score: 4.7/5

65% of retail CFD accounts lose money.

FX Score: 4.6/5

69% of Retail CFD Accounts Lose Money

XTB

FX Score: 4.4/5

72% of Retail CFD Accounts Lose Money

Interactive Brokers

FX Score: 4.4/5

62.5% of Retail CFD Accounts Lose Money

eToro

FX Score: 4.3/5

61% of retail CFD accounts lose money.

Pepperstone

FX Score: 4.2/5

81.7% of retail CFD accounts lose money.

Saxo

FX Score: 4.1/5

64% of retail CFD accounts lose money.

Quick Answer: What's the best UK Forex Trading Platform?

The best UK forex broker in 2025 is SpreadEX. It is fully FCA-regulated, easy to use, and ideal for beginners. With low spreads, no deposit fees, and a simple platform, SpreadEX offers a strong all-around experience for new and experienced traders alike.

How Do the Top Forex Brokers in the UK Rank?

Rank	Broker	FCA Regulated	Min. Deposit	Spread (EUR/USD)	Best For
1	SpreadEX	Yes	£1	From 0.6 pips	Beginners
2	IG	Yes	£250	From 0.6 pips	Intermediate traders
3	XTB	Yes	£0	From 0.1 pips	Multi-asset trading
4	Interactive Brokers	Yes	£0	From 0.1 pips	Professional traders
5	eToro	Yes	£50	From 1.0 pips	New traders
6	Pepperstone	Yes	£0	From 0.0 pips + commission	Forex-focused traders
7	Saxo	Yes	£0	From 0.4 pips	Expert traders

Here are the Best Forex Brokers in the UK...

SpreadEX – Best for Beginners
IG – Versatile, Reliable, Great for Intermediate Traders
XTB – Multi-Asset Trading, Competitive Spreads, Award-Winning Platform
Interactive Brokers – Best for Pros, Global Access, Low Fees
eToro – Social Trading, User-Friendly, Great for New Traders
Pepperstone – Low Spreads, Fast Execution, Excellent for Forex
Saxo – Premium Platform, Advanced Tools, Best for Experts

SpreadEX – Best for Beginners

Pros & Cons

User-friendly for UK traders
Competitive spreads
Offers both CFDs and spread betting
Wide market access across forex, indices, and shares

No MT4/MT5 support
UK & Ireland access only
No ISA or non-leveraged investing options

What makes SpreadEX a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

SpreadEX is a UK-based broker that offers both spread betting and CFD trading. It has a simple, easy-to-use platform that’s perfect for beginners. The account setup is fast, and it provides access to a wide range of markets including forex, shares, and indices.

SpreadEX charges no commission, with forex spreads starting from 0.6 pips on major pairs like EUR/USD. There are no deposit or withdrawal fees, and the platform uses fixed spreads for some markets, helping traders plan costs more easily.

Yes. SpreadEX is fully authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Client funds are held in segregated accounts, and eligible customers are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.

SpreadEX is ideal for beginners and casual UK traders who want a straightforward platform with low starting costs. It’s also a strong option for those interested in spread betting, especially with its tailored service for UK residents.

65% 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.

IG – Versatile, Reliable, Great for Intermediate Traders

Pros & Cons

Excellent charting and analysis tools
Wide asset coverage: forex, stocks, indices, crypto
Regulated globally (FCA, ASIC, CFTC)
Strong educational content

Higher fees for smaller accounts
Complex interface for beginners
Inactivity fee after 24 months
Occasional support delays

What makes IG a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

IG is one of the UK’s most established trading platforms, offering forex, indices, shares, and more. It provides powerful tools like ProRealTime and MT4, alongside excellent research and education, making it ideal for traders looking to build their skills.

IG offers competitive spreads starting from 0.6 pips on EUR/USD. There are no deposit or withdrawal fees, but an inactivity fee applies after 24 months. Commission may apply to some share trades, depending on the product and account type.

Yes. IG is fully regulated by the Financial Conduct Authority (FCA) and is also listed on the London Stock Exchange. It holds multiple top-tier regulatory licenses and offers FSCS protection up to £85,000 for eligible UK clients.

IG suits intermediate traders who want strong tools, reliable pricing, and access to a wide range of markets. It’s also a great option for those who value a well-known, transparent broker with years of proven experience.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

XTB – Multi-Asset Trading, Competitive Spreads, Award-Winning Platform

Pros & Cons

Spreads from 0.1 pips on major pairs
Intuitive, award-winning xStation platform
Excellent learning resources
Regulated by FCA, KNF, DFSA, CNMV

No MT4/MT5 support
Fewer forex pairs than competitors
€10 inactivity fee after 12 months
Not available to U.S. clients

What makes XTB a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

XTB offers a modern, user-friendly trading platform called xStation 5, with access to forex, indices, shares, commodities, and crypto. It stands out for its fast execution, excellent design, and strong educational resources tailored to active retail traders.

Spreads start from 0.1 pips on major forex pairs, with no commission on standard accounts. There are no deposit fees, and withdrawals over £60 are free. An inactivity fee may apply after 12 months without trading activity.

Yes. XTB is authorised and regulated by the FCA in the UK and operates across multiple jurisdictions in Europe and the Middle East. It maintains a strong reputation for safety and transparency, with client funds held in segregated accounts.

XTB is ideal for traders who want a clean, responsive platform with access to a broad range of markets. It’s especially useful for those who value fast execution, quality education, and low trading costs without needing MT4 or MT5.

72% 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.

Interactive Brokers – Best for Pros, Global Access, Low Fees

Pros & Cons

Ultra-low fees for active traders
Huge range of assets and forex pairs
Access to 150+ global markets
Advanced trading platforms

Complex interface
$10 inactivity fee (if balance < $100K and no commissions)
No MT4/MT5 integration
High threshold for earning interest on cash

What makes Interactive Brokers a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

Interactive Brokers offers advanced trading tools, access to over 150 global markets, and institutional-grade platforms. It’s designed for experienced traders who need precision, flexibility, and the ability to trade a wide range of asset classes at low cost.

Spreads are highly competitive, starting from 0.1 pips on major forex pairs. There are no deposit or inactivity fees. A tiered commission model is used for some markets, which can reduce costs further for high-volume or active traders.

Yes. Interactive Brokers is regulated by the FCA in the UK and holds multiple top-tier licenses worldwide. It is publicly traded on NASDAQ, offers strong financial disclosures, and protects client funds through account segregation and FSCS where applicable.

Interactive Brokers is best for professional traders and investors who want access to global markets, detailed reporting, and custom trading strategies. It’s not ideal for beginners due to the complexity of its platform and tools.

62.5% 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 – Social Trading, User-Friendly, Great for New Traders

Pros & Cons

Beginner-friendly interface
Social/copy trading options
Regulated by FCA, CySEC, and ASIC
Good range of major forex pairs

Higher spreads than many brokers
Limited tools for technical traders
£10 inactivity fee after 12 months
Support can be slow at busy times

What makes eToro a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

eToro is known for its social trading features, allowing users to copy the strategies of experienced traders. The platform is clean and simple, making it a strong entry point for beginners looking to learn and trade at the same time.

Spreads start from 1.0 pips on major forex pairs. There are no deposit fees, but a £5 withdrawal fee applies. An inactivity fee of £10 per month is charged after 12 months without login or trading activity.

Yes. eToro is regulated by the FCA in the UK and holds additional licenses from top regulators globally. It offers protection through account segregation and FSCS eligibility, ensuring client funds are handled securely.

eToro is ideal for new or casual traders who prefer an intuitive platform and want to learn by copying others. It’s also useful for those looking to invest in both forex and other assets like stocks or crypto.

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 61% of retail CFD accounts lose money when trading CFD’s 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.

Pepperstone – Low Spreads, Fast Execution, Excellent for Forex

Pros & Cons

Very low spreads
MT4, MT5, and cTrader supported
70+ forex pairs
Excellent customer support

Limited learning resources
No proprietary platform
Some services restricted by region

What makes Pepperstone a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

Pepperstone offers ultra-low spreads, fast trade execution, and support for multiple trading platforms, including MT4, MT5, and cTrader. It’s built for active forex traders who want reliable performance and access to advanced trading tools.

Spreads start from 0.0 pips on Razor accounts, with a small commission per trade. Standard accounts offer commission-free trading with slightly wider spreads. There are no deposit or withdrawal fees, and no inactivity fee is charged.

Yes. Pepperstone is authorised by the FCA in the UK and regulated in several other major jurisdictions. Client funds are held in segregated accounts, and eligible users receive FSCS protection up to £85,000.

Pepperstone is best for forex traders, scalpers, and algorithmic traders who want fast execution, low costs, and support for expert advisors. It’s a strong option for experienced users who prefer MT4/MT5 trading environments.

81.7% 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.

Saxo – Premium Platform, Advanced Tools, Best for Experts

Pros & Cons

SaxoTraderGO & PRO offer pro-level features
180+ forex pairs including exotics
Tiered pricing rewards active traders
Strong research and market insights

Large min. fund requirement for higher tiered accounts
£25 inactivity fee after 6 months

What makes Saxo a good choice?
What are the fees and spreads?
Is this broker safe and regulated?
Who is this broker best suited for?

Saxo offers a professional-grade trading experience with powerful platforms like SaxoTraderGO and SaxoTraderPRO. It provides access to over 180 forex pairs, advanced charting, and detailed market research for traders who demand depth and precision.

Spreads start from 0.4 pips on major forex pairs. Saxo uses tiered pricing, rewarding high-volume traders with lower costs. There are no deposit or withdrawal fees, and inactivity fees may apply after extended periods of no activity.

Yes. Saxo is authorised and regulated by the FCA in the UK and operates under multiple Tier-1 licenses worldwide. It is well-capitalised, holds client funds in segregated accounts, and offers FSCS protection where applicable.

Saxo is best for experienced or professional traders who want advanced tools, access to a wide range of markets, and detailed analytics. It’s ideal for those comfortable with a more complex platform and higher trading volumes.

64% 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.

What Should You Know Before Choosing a Forex Broker?

Choosing the right forex broker is about more than just low fees. You need to consider regulation, platform quality, trading tools, and the level of support available. Below are simple answers to common questions UK traders ask before getting started.

What does it mean if a broker is FCA-regulated?

If a broker is FCA-regulated, it is authorised to operate legally in the UK. This means the broker must follow strict rules to protect clients, including keeping client funds in separate accounts and providing FSCS protection up to £85,000.

What trading platforms do UK brokers offer?

Most UK brokers offer a choice between custom-built platforms and popular tools like MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader. These platforms allow you to place trades, use charting tools, run strategies, and manage your account securely.

What’s the safest way to start forex trading in the UK?

The safest way is to open an account with an FCA-regulated broker, start with a demo account, and practice using virtual money. Once you’re confident, begin trading small amounts, keeping your risk low and only trading what you can afford to lose.

How much money do I need to trade forex in the UK?

You can start trading forex in the UK with as little as £1, depending on the broker. However, many traders begin with £100 to £500. It’s best to start with an amount you’re comfortable risking while you learn how the market works.

What Are the Best Forex Brokers for Beginners?

The best forex brokers for beginners are those that offer a simple platform, helpful education, and strong customer support. In the UK, SpreadEX, XTB, and eToro are excellent choices, as they combine ease of use with low costs and trusted regulation.

What Else Should You Know About Forex Trading in the UK?

How do I check if a forex broker is legit in the UK?

To confirm a broker is legitimate, check if they are authorised by the Financial Conduct Authority (FCA). Visit the FCA Register, search the broker’s name or firm reference number, and verify their permissions and regulatory status.

Do I have to pay tax on forex trading in the UK?

Yes, you may owe tax depending on how you trade. Spread betting profits are usually tax-free, while profits from CFD trading may be subject to Capital Gains Tax (CGT). For large or frequent trades, consult a qualified tax advisor.

What is the best forex platform for copy trading?

eToro is the best platform for copy trading in the UK. It allows you to follow and automatically copy the trades of other investors. It’s FCA-regulated, user-friendly, and includes social features that help new traders learn by observing others.

What’s the best MetaTrader broker in the UK?

Pepperstone is a top MetaTrader broker in the UK, offering both MT4 and MT5 with fast execution and low spreads. It’s FCA-regulated and well-suited for algorithmic trading, expert advisors (EAs), and traders who want access to a wide range of forex pairs.

Conclusion: Which Forex Broker Is Right for You?

If you’re new to trading, SpreadEX and XTB offer user-friendly platforms, low starting deposits, and strong educational support. For those looking to minimise costs, Pepperstone and Interactive Brokers provide tight spreads and efficient pricing, making them ideal for cost-conscious traders.

If you’re interested in copy trading, eToro is the leading choice, offering a regulated, easy-to-use social platform. For professionals, Interactive Brokers and Saxo deliver advanced tools, global market access, and detailed analytics suited to experienced traders.

Top 5 Brokers

FAQs

What is the most suitable forex broker in the UK for beginners?

SpreadEX and XTB are top choices for beginners in 2025. They offer easy-to-use platforms, helpful educational resources, and responsive customer support — perfect for those just starting out.

Which UK forex brokers offer the lowest spreads?

Pepperstone and Interactive Brokers are known for ultra-tight spreads, with raw pricing from 0.0 pips on major pairs. They’re ideal for scalpers and high-frequency traders looking to keep costs down.

Are all forex brokers in the UK FCA regulated?

No, not all brokers are FCA regulated. To ensure your funds are protected and you’re trading legally, always choose a broker listed on the FCA Register.

Can I trade forex in the UK with a small deposit?

Yes, many brokers like XTB and eToro allow you to start trading with as little as £50–£100. It’s a smart way to test the waters without risking too much capital upfront.

References

Financial Conduct Authority (FCA) – FCA Register
Statista – “Monthly Forex Trading Volume Worldwide.”
XTB Official Website – Forex Trading – How to invest in FX CFDs?
Pepperstone UK – Pepperstone: Forex Broker & CFD Trading Platform
IG UK – IG: Trade and Invest with the UK’s No.1 Trading Provider
eToro UK – Stocks & beyond: Invest in 7000+ assets on eToro
Interactive Brokers UK – International Broker – IBKR

Best Forex Brokers In The UK for 2025

Quick Answer: What's the best UK Forex Trading Platform?

How Do the Top Forex Brokers in the UK Rank?

Here are the Best Forex Brokers in the UK...

SpreadEX – Best for Beginners

Pros & Cons

What makes SpreadEX a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

IG – Versatile, Reliable, Great for Intermediate Traders

Pros & Cons

What makes IG a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

XTB – Multi-Asset Trading, Competitive Spreads, Award-Winning Platform

Pros & Cons

What makes XTB a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

Interactive Brokers – Best for Pros, Global Access, Low Fees

Pros & Cons

What makes Interactive Brokers a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

eToro – Social Trading, User-Friendly, Great for New Traders

Pros & Cons

What makes eToro a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

Pepperstone – Low Spreads, Fast Execution, Excellent for Forex

Pros & Cons

What makes Pepperstone a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

Saxo – Premium Platform, Advanced Tools, Best for Experts

Pros & Cons

What makes Saxo a good choice?

What are the fees and spreads?

Is this broker safe and regulated?

Who is this broker best suited for?

What Should You Know Before Choosing a Forex Broker?

What does it mean if a broker is FCA-regulated?

What trading platforms do UK brokers offer?

What’s the safest way to start forex trading in the UK?

How much money do I need to trade forex in the UK?

What Are the Best Forex Brokers for Beginners?

What Else Should You Know About Forex Trading in the UK?

How do I check if a forex broker is legit in the UK?

Do I have to pay tax on forex trading in the UK?

What is the best forex platform for copy trading?

What’s the best MetaTrader broker in the UK?

Conclusion: Which Forex Broker Is Right for You?

FAQs

References

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