Best Forex Brokers In The UK for 2026
- expertise:
- CFD Trading, Forex, Derivatives, Risk Management
- credentials:
- Chartered ACII · 12+ years in financial analysis
- expertise:
- Platform Testing, Cryptocurrency, Retail Investing
- credentials:
- 50+ platforms tested · 200+ guides authored
- expertise:
- Broker Comparison, ISA Strategy, Portfolio Management
- credentials:
- 40+ brokers tested · Active investor since 2013
- expertise:
- CFD Trading, Forex, Derivatives, Risk Management
- credentials:
- Chartered ACII · 12+ years in financial analysis
- expertise:
- Platform Testing, Cryptocurrency, Retail Investing
- credentials:
- 50+ platforms tested · 200+ guides authored
- expertise:
- Broker Comparison, ISA Strategy, Portfolio Management
- credentials:
- 40+ brokers tested · Active investor since 2013
How We Test
Real accounts. Real money. Real trades. No demo accounts or press releases.
What we measure:
- Spreads vs advertised rates
- Execution speed and slippage
- Hidden fees (overnight, withdrawal, conversion)
- Actual withdrawal times
Scoring:
Fees (25%) · Platform (20%) · Assets (15%) · Mobile (15%) · Tools (10%) · Support (10%) · Regulation (5%)
Regulatory checks:
FCA Register verification · FSCS protection (£120,000 per person)
Testing team:
Adam Woodhead, Thomas Drury (Chartered ACII), Dom Farnell — 50+ platforms with funded accounts
Quarterly reviews · Corrections: info@theinvestorscentre.co.uk
Disclaimer
Not financial advice. Educational content only. We're not FCA authorised. Consult a qualified advisor before investing.
Capital at risk. Investments can fall. Past performance doesn't guarantee future results.
CFD warning. 67-84% of retail accounts lose money trading CFDs. High risk due to leverage.
Affiliate disclosure. Some links earn commission at no cost to you. This doesn't affect our ratings.
Contact: info@theinvestorscentre.co.uk
Choosing the right forex broker makes a real difference to your trading. Here’s our 2026 rundown of the best FCA-regulated platforms — tested for spreads, speed, and reliability.
Quick Answer: What's the best UK Forex Trading Platform?
The best UK forex broker in 2026 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.
Pepperstone
FX Score: 4.9/5
72% 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
68% of Retail CFD Accounts Lose Money
CMC Markets
FX Score: 4.2/5
64% of retail CFD accounts lose money.
Which UK Forex Brokers Offer the Best Overall Trading Experience in 2026?
| 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 | Excellent educational resources |
| 6 | Capital.com | Proprietary App, MT4 | Up to 1:30 | Forex, Stocks, Crypto, Indices | AI-powered trading insights |
| 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 | Charting & analysis |
| 5 | XTB | Yes | 1923 | 3.5 | £0 | Multi-asset trading |
| 6 | Capital.com | Yes | 11,500+ | 4.3 | £20 | AI-powered 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 | Best For |
|---|---|---|---|---|---|---|
| 1 | Pepperstone | From 0.0 pips + commission | From 0.2 pips | From 0.4 pips | £4.50 round turn (Razor) / £0 (Standard) | Forex-focused traders |
| 2 | SpreadEX | From 0.6 pips | From 0.7 pips | From 0.9 pips | £0 | Beginners & intermediates |
| 3 | IG | From 0.6 pips | From 0.8 pips | From 0.9 pips | £0 | Active traders |
| 4 | CMC Markets | From 0.5 pips | From 0.6 pips | From 0.9 pips | £0 | Charting & analysis |
| 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) | Multi-asset trading |
| 6 | Capital.com | From 0.6 pips | From 0.7 pips | From 0.8 pips | £0 (spreads only) | AI-powered trading |
| 7 | Interactive Brokers | From 0.1 pips | From 0.2 pips | From 0.3 pips | Variable (from £3–4/lot round turn) | Professional traders |
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
- Capital.com – AI-powered insights, tight spreads, 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
What makes Pepperstone a good choice?
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.
What are the fees and spreads?
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.
Is this broker safe and regulated?
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.
Who is this broker best suited for?
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.
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.
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
What makes SpreadEX a good choice?
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.
What are the fees and spreads?
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 instruments, which helps manage trading costs during volatile periods.
Is this broker safe and regulated?
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.
Who is this broker best suited for?
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 – 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
What makes IG a good choice?
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 while accessing global markets.
What are the fees and spreads?
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.
Is this broker safe and regulated?
Yes. IG is authorised and regulated by the FCA, and is publicly listed on the London Stock Exchange. Client funds are segregated, and FSCS protection covers eligible UK clients up to £85,000.
Who is this broker best suited for?
IG is best suited for intermediate and advanced traders who want a reliable, feature-rich platform. It’s also a strong choice for beginners seeking education, research, and a trusted brand with long-standing credibility in the UK.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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
What makes CMC Markets a good choice?
CMC Markets is a well-established UK broker offering access to thousands of instruments through its advanced Next Generation platform. It stands out for its powerful charting tools, customisable interface, and wide range of tradeable assets, including forex, indices, and commodities.
What are the fees and spreads?
CMC Markets offers competitive spreads starting from 0.7 pips on major forex pairs. There’s no commission on most forex trades. An inactivity fee of £10/month applies after 12 months without trading. No deposit or withdrawal fees are charged.
Is this broker safe and regulated?
Yes – CMC Markets is FCA-regulated and listed on the London Stock Exchange. Client funds are held in segregated accounts, and eligible UK customers are covered by FSCS protection up to £85,000.
Who is this broker best suited for?
CMC Markets is ideal for experienced traders who want advanced charting, a customisable platform, and access to a wide range of global markets. It also suits those who value strong regulatory backing and in-depth market analysis tools.
64% 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
What makes XTB a good choice?
XTB is a global broker known for its award-winning xStation platform. It offers a smooth trading experience with fast execution, educational content, and access to forex, indices, commodities, and shares. The platform is particularly beginner-friendly while still offering tools for more advanced traders.
What are the fees and spreads?
XTB offers tight spreads starting from 0.1 pips on major forex pairs with no commission on standard accounts. There are no deposit or withdrawal fees, but an inactivity fee of £10/month applies after 12 months of no trading activity.
Is this broker safe and regulated?
Yes. XTB is FCA-regulated in the UK and listed on the Warsaw Stock Exchange. Client funds are held in segregated accounts, and eligible UK traders benefit from FSCS protection up to £85,000.
Who is this broker best suited for?
XTB is ideal for beginner to intermediate traders looking for a user-friendly platform with strong education. It also suits active traders who want competitive spreads and fast order execution without commission fees.
71% 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.
Capital.com – AI-powered insights, tight spreads, beginner-friendly
Pros & Cons
- Beginner-friendly interface with smart design
- AI-powered trading insights and analytics
- Regulated by FCA, CySEC, and ASIC
- Competitive spreads from 0.6 pips on EUR/USD
- No MT5 support (MT4 only)
- Variable spreads may widen in volatility
- CFD-only – no real asset ownership
- Limited product range vs full-service brokers
What makes Capital.com a good choice?
Capital.com stands out for its AI-powered trading system, which monitors your activity and provides personalised feedback to help you trade smarter. The platform is well-designed and easy to navigate, with advanced charting, 75+ technical indicators, and real-time alerts. Spreads are competitive, starting from 0.6 pips on EUR/USD, and there are no hidden fees. For traders who want intelligent tools without a steep learning curve, Capital.com strikes a strong balance between simplicity and functionality.
What are the fees and spreads?
Capital.com charges no commission on trades – all costs are built into the spread. EUR/USD starts from 0.6 pips, GBP/USD from 0.8 pips, and USD/JPY from 0.7 pips. There are no deposit fees, no withdrawal fees, and no inactivity fees. Overnight financing applies to leveraged positions held past market close. The transparent fee structure makes it easy to calculate costs upfront with no surprises.
Is this broker safe and regulated?
Yes, Capital.com is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 793714. It also holds licences with CySEC (Cyprus) and ASIC (Australia), providing multi-jurisdictional oversight. Client funds are held in segregated accounts with top-tier banks, and UK retail clients are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. Negative balance protection ensures you cannot lose more than your deposited funds.
Who is this broker best suited for?
Capital.com is ideal for beginner to intermediate traders who want a modern platform with smart tools and low costs. The AI-driven insights are particularly useful for newer traders looking to build better habits and avoid common mistakes. Tight spreads and zero fees make it cost-effective for active trading, while the intuitive mobile app suits those who prefer managing positions on the go.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% 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.
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
What makes Interactive Brokers a good choice?
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.
What are the fees and spreads?
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.
Is this broker safe and regulated?
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.
Who is this broker best suited for?
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 Is Forex Trading and What Does a Forex Broker Do?
Forex trading involves speculating on the price movements between two currencies, known as a currency pair. For example, when trading EUR/USD, you are comparing the value of the euro against the US dollar. If you believe the euro will strengthen, you can buy the pair; if it rises, you may profit when you close the trade.
A forex broker is the platform that gives traders access to these currency markets. Brokers provide the trading software, live pricing, order execution, leverage, and account infrastructure needed to place trades. In the UK, reputable forex brokers must be authorised and regulated by the Financial Conduct Authority (FCA), which enforces strict rules around client fund protection, transparency, and risk disclosures.
Most UK retail traders access forex markets through derivative products such as CFDs or spread betting, rather than exchanging physical currencies. These instruments allow traders to speculate on price movements using leverage, meaning gains and losses are magnified. Because of this, forex trading carries a high level of risk and is best approached with proper education and risk management.
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?
You can start trading forex in the UK with as little as £1, depending on the broker, though most traders begin with £100 to £500. The key is to start with an amount you’re comfortable risking while you learn how the market moves.
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 Capital.com. 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?
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?
eToro is widely seen as the top platform for copy trading in the UK. It lets you follow and automatically mirror the moves of other investors, making it easier to learn by example. Fully FCA-regulated and designed with beginners in mind, it combines social features with a clean, intuitive interface.
What’s the best MetaTrader broker in the UK?
Pepperstone ranks among the top MetaTrader brokers in the UK, giving traders access to both MT4 and MT5. Execution is fast, spreads are tight, and the experience feels built for serious trading. Fully FCA-regulated, it’s a strong choice for anyone using algorithmic strategies, expert advisers (EAs), or simply looking for a broad range of forex pairs.
Conclusion: Which Forex Broker Is Right for You?
The best forex broker depends on how you trade. Pepperstone remains our top pick overall — tight spreads, fast execution, and support for MT4, MT5, and cTrader.
- SpreadEX is great for beginners who want a simple, UK-focused platform.
- IG and CMC Markets suit traders who want advanced charting and deep market access.
- For smart, AI-powered insights that help you trade better, Capital.com is a standout choice.
- And if you need institutional-grade tools and global reach, Interactive Brokers delivers.
Whichever you choose, stick with FCA-regulated brokers, understand the fee structure, and start with a demo account if you’re new.
FAQs
What is the most suitable forex broker in the UK for beginners?
SpreadEX and XTB are top choices for beginners in 2026. 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
- Interactive Brokers UK – International Broker – IBKR
