Best Forex Brokers In The UK for 2025
Pepperstone
FX Score: 4.9/5
72.2 % of retail CFD accounts lose money.
SpreadEX
FX Score: 4.7/5
65% of retail CFD accounts lose money.
IG
FX Score: 4.4/5
67% of Retail CFD Accounts Lose Money
CMC Markets
FX Score: 4.2/5
67% of retail CFD accounts lose money.
Quick Answer: What's the best UK Forex Trading Platform?
The best UK forex broker in 2025 is Pepperstone. It is fully FCA-regulated, user-friendly, and ideal for traders of all levels. With ultra-tight spreads from 0.0 pips, fast execution, and access to MT4, MT5, cTrader, and TradingView, Pepperstone delivers a professional all-around trading experience.
Which UK Forex Brokers Offer the Best Overall Trading Experience in 2025?
| Rank | Broker | Trading Platforms | Leverage (Retail) | Asset Classes | Notable Feature |
|---|---|---|---|---|---|
| 1 | Pepperstone | MT4, MT5, cTrader, TradingView | Up to 1:30 | Forex, Indices, Commodities, Crypto | Fast execution and tight spreads |
| 2 | SpreadEX | Proprietary | Up to 1:30 | Forex, Shares, Indices, Sports | Combines spread betting and CFDs |
| 3 | IG | IG Platform, MT4, ProRealTime | Up to 1:30 | Forex, Stocks, Crypto, Indices | Wide market range and strong research tools |
| 4 | CMC Markets | Next Generation, MT4 | Up to 1:30 | Forex, Commodities, ETFs, Indices | Advanced charting and analysis tools |
| 5 | XTB | xStation 5 | Up to 1:30 | Forex, Shares, ETFs, Crypto | Excellent educational resources |
| 6 | eToro | eToro App, TradingView | Up to 1:30 | Forex, Stocks, Crypto, ETFs | Social and copy trading features |
| 7 | Interactive Brokers | Trader Workstation, IBKR GlobalTrader | Up to 1:30 | Forex, Stocks, Bonds, Futures | Institutional-grade platform and tools |
How Do the Top FCA-Regulated Forex Brokers Compare on Trustpilot?
| Rank | Broker | FCA Regulated | Trustpilot Reviews | Trustpilot Rating | Min. Deposit | Best For |
|---|---|---|---|---|---|---|
| 1 | Pepperstone | Yes | 3141 | 4.4 | £0 | Forex-focused traders |
| 2 | SpreadEX | Yes | 148 | 4.3 | £0 | Beginners & intermediates |
| 3 | IG | Yes | 8279 | 3.9 | £250 | Active traders |
| 4 | CMC Markets | Yes | 2528 | 4.0 | £0 | Charting & analysis |
| 5 | XTB | Yes | 1923 | 3.5 | £0 | Multi-asset trading |
| 6 | eToro | Yes | 29079 | 4.2 | £50 | Social trading |
| 7 | Interactive Brokers | Yes | 4255 | 3.2 | £0 | Professional traders |
What Are the Typical Spreads and Commissions Charged by UK Forex Brokers?
| Rank | Broker | EUR/USD | USD/JPY | GBP/USD | Commission per Lot |
|---|---|---|---|---|---|
| 1 | Pepperstone | From 0.0 pips + commission | From 0.2 pips | From 0.4 pips | £4.50 round turn (Razor) / £0 (Standard) |
| 2 | SpreadEX | From 0.6 pips | From 0.7 pips | From 0.9 pips | £0 |
| 3 | IG | From 0.6 pips | From 0.8 pips | From 0.9 pips | £0 |
| 4 | CMC Markets | From 0.5 pips | From 0.6 pips | From 0.9 pips | £0 |
| 5 | XTB | From 0.9 pips | From 0.3 pips | From 0.4 pips | £0 (Standard) / £5.40 round turn (Pro - from 0.1 pips) |
| 6 | eToro | From 1.0 pips | From 1.0 pips | From 2.0 pips | £0 (spreads only) |
| 7 | Interactive Brokers | From 0.1 pips | From 0.2 pips | From 0.3 pips | Variable (from £3–4/lot round turn) |
Here are the Best Forex Brokers in the UK...
- Pepperstone – Low spreads, fast execution, forex-focused
- SpreadEX – Simple platform, good for beginners
- IG – Trusted, reliable, advanced tools
- CMC Markets – Strong charting, award-winning platform
- XTB – Broad markets, competitive pricing
- eToro – Social trading, beginner-friendly
- Interactive Brokers – Pro tools, global access, low fees
Pepperstone – Low spreads, fast execution, forex-focused
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
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What makes Pepperstone a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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Who is this broker best suited for?
72.2% 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.
SpreadEX – Simple platform, good 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
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What makes SpreadEX a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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Who is this broker best suited for?
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 – Trusted, reliable, advanced tools
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
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What makes IG a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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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. 67% 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.
CMC Markets – Strong charting, award-winning platform
Pros & Cons
Next Generation platform with advanced charting and 80+ technical indicators
Wide range of over 12,000 CFDs across forex, indices, commodities, shares, ETFs, and treasuries
FCA-regulated with negative balance protection
No minimum deposit required to open an account
Platform may feel complex for beginners
Share CFD commissions apply in some regions
Market data fees for advanced features
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What makes CMC Markets a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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Who is this broker best suited for?
CMC Markets offers a professional-grade trading experience via its award-winning Next Generation platform and MT4. Traders benefit from advanced charting, powerful research, and access to more than 12,000 global markets, making it ideal for serious and analytical traders.
CMC Markets provides tight spreads starting from 0.5 pips on major forex pairs. Forex and index CFDs are commission-free, while share CFDs may carry a small commission. Overnight financing charges and market data fees may apply.
Yes – CMC Markets is FCA regulated in the UK and operates under strict financial safeguards, including segregated client funds and negative balance protection.
CMC Markets is best for active traders and professionals seeking deep market access, advanced charting tools, and an award-winning platform built for detailed analysis.
67% of retail investor accounts lose money when trading CFDs with this provider
XTB – Broad markets, competitive pricing
Pros & Cons
- Spreads from 0.1 pips on major pairs
- Intuitive, award-winning xStation platform
- Excellent learning resources
- Regulated by FCA, KNF, DFSA
- No MT4/MT5 support
- Fewer forex pairs than competitors
- €10 inactivity fee after 12 months
- Not available to U.S. clients
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What makes XTB a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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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.
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.
eToro – Social trading, beginner-friendly
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
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What makes eToro a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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Who is this broker best suited for?
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.
Interactive Brokers – Pro tools, 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
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What makes Interactive Brokers a good choice?
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What are the fees and spreads?
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Is this broker safe and regulated?
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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.
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.
What Should You Know Before Choosing a Forex Broker?
Picking the right forex broker isn’t just about chasing the lowest fees. Regulation, platform quality, trading tools, and customer support all play a part. Below, you’ll find clear answers to the questions UK traders most often ask before they get started.
What does it mean if a broker is FCA-regulated?
If a broker is regulated by the FCA, it’s officially authorised to operate in the UK. That status comes with strict safeguards — client funds must be held in segregated accounts, and eligible traders are covered by FSCS protection of 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 approach is to start with an FCA-regulated broker and open a demo account first. Practise with virtual funds until you’re comfortable, then move on to small, real trades — keeping your risk low and never staking more than you can afford to lose.
How much money do I need to trade forex in the UK?
What Are the Best Forex Brokers for Beginners?
For beginners, the best forex brokers are the ones that keep things simple. A clear platform, solid education, and responsive support make all the difference when you’re learning the ropes.
In the UK, many new traders start with Pepperstone, XTB, or eToro. Each combines ease of use, competitive pricing, and the reassurance that comes with strong regulatory oversight.
What Else Should You Know About Forex Trading in the UK?
To make sure a broker is legitimate, check whether it’s authorised by the Financial Conduct Authority (FCA). Head to the FCA Register, search the firm’s name or reference number, and confirm its permissions and regulatory status before you sign up.
Do I have to pay tax on forex trading in the UK?
Yes — you might owe tax, depending on how you trade. Profits from spread betting are usually tax-free, but gains from CFD trading can fall under Capital Gains Tax (CGT). If you trade regularly or in larger amounts, it’s sensible to speak with a qualified tax adviser before filing.
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?
If you’re new to trading, SpreadEX and XTB are great places to start. Both offer straightforward platforms, low entry deposits, and plenty of educational support to help you build confidence early on.
For traders focused on keeping costs down, Pepperstone and Interactive Brokers stand out with tight spreads and efficient pricing — ideal for those who value low-cost execution without compromising performance.
If copy trading appeals to you, eToro remains the go-to choice. It’s regulated, easy to navigate, and built around a social community that makes learning from others part of the experience. Meanwhile, seasoned professionals tend to favour Interactive Brokers and Saxo for their advanced tools, global reach, and in-depth analytics.
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
