81% 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.
Our #1 Rated Trading Platform
7 Best Forex Brokers in the UK for 2025
Thomas Drury
Co-Founder
Thomas is an experienced financial trader in leverage instruments, crypto and general investing. He has over a decade experience in finance and holds Chartered Status in the financial industry, Thomas’s speciality is trading CFDs, Forex and Day Trading. His crypto portfolio is heavily weighted towards BTC and Eth, but enjoys trading low cap crypto’s with higher volatility. Thomas’s favourite trading strategy is break out Trading.
“Our commitment at The Investors Centre is unwavering. We strive to provide clear, actionable advice that empowers you to achieve financial success. Our vision is a future where anyone can invest confidently and wisely.”
Dom Farnell
Co-Founder
Dom is an experienced retail investor, learning his craft in what he likes to call the “hard way”. Through many of these lesson’s he has crafted himself a sound investment strategy that has enabled him to make investing into a business not just a hobby. He wanted to create The Investors Centre to be able to use these lessons and help other people establish them selves in the world of investing.
“Financial clarity and integrity are the cornerstones of everything we do. We’re here to ensure that your investment journey is built on a solid financial understanding and a sound strategic foundation.”
Table of Contents
Disclaimer
How We Test
Explore our curated list of reliable, regulated Forex brokers for 2025, each rigorously tested with real capital. All brokers are accessible to traders in the United Kingdom.
SpreadEX
FX Score: 4.7/5
81% of retail CFD accounts lose money.
IG
FX Score: 4.6/5
71% of Retail CFD Accounts Lose Money
XTB
FX Score: 4.4/5
73% of Retail CFD Accounts Lose Money
Interactive Brokers
FX Score: 4.4/5
62.5% of Retail CFD Accounts Lose Money
Quick Answer: What's the best UK Forex Trading Platform?
Spreadex is the top choice for forex trading in the UK, catering to both experienced traders and beginners. Its versatile trading environment, user-friendly interface, and comprehensive features make it the preferred platform for confident forex trading. IG also stands out as a strong contender, offering similar benefits and a robust trading experience.
Featured Broker - SpreadEX
A respected name in the online trading space, SpreadEX offers a unique blend of spread betting and CFD trading to both retail and professional clients. Known for its user-friendly platform, competitive pricing, and comprehensive market access, SpreadEX delivers flexibility and control for traders of all levels.
- Minimum Deposit £1
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- Market Spread:
- From 0.6 pips (Major Forex Pairs)
- From 0.1% (UK Shares)
- Market Spread:
- FCA regulated
- Web and Mobile Trading Platform
- Acess to Thousands of global markets including indices, shares, forex, commodities, cryptocurrencies, and bonds – all through spread betting or CFDs
81% 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.
How do these Forex Brokers Compare?
If you want a quick snapshot of what each broker brings to the table, here’s a simple comparison I put together based on my own experience trading with all of them:
| Rank | Broker | FCA Regulated | Platforms | Avg Spread (EUR/USD) | Best For |
|---|---|---|---|---|---|
| #1 | SpreadEX | Yes | Proprietary | From 0.6 pips | Beginners who want a simple, no-nonsense platform with great UK support. |
| #2 | IG | Yes | MT4, ProRealTime | From 0.6 pips | Intermediate traders seeking reliability, solid tools, and market depth. |
| #3 | XTB | Yes | xStation 5 | From 0.1 pips | Multi-asset traders who value clean design, fast execution, and education. |
| #4 | Interactive Brokers | Yes | Trader Workstation (TWS), Web | From 0.1 pips | Professional traders who need low-cost global access and deep analytics. |
| #5 | eToro | Yes | Proprietary (Social Platform) | From 1.0 pips | New traders and passive investors interested in copy trading strategies. |
| #6 | Pepperstone | Yes | MT4, MT5, cTrader | From 0.0 pips + commission | Forex-focused traders and scalpers who want low spreads and speed. |
| #7 | Saxo | Yes | SaxoTraderGO, SaxoTraderPRO | From 0.6 pips | Experienced traders looking for a premium platform and advanced tools. |
Every broker on this list is FCA regulated, which means your funds are protected and you’re trading in a trustworthy environment.
Here's our Ranked List of the the Best Forex Platforms in the UK:
- SpreadEX – Best for Beginners, Overall Top Choice
- 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, Overall Top Choice
What Do Our Experts Say?
Experts highlight SpreadEX for its ease of use, strong UK regulation, and flexible trading options. While it’s great for beginners and intermediates, it’s limited in global access and doesn’t support ISA or long-term investing accounts.
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 are the Fees?
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Which Forex Pairs are Available?
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How Safe is the Broker?
Spreadex offers competitive FX trading fees through its spread betting and CFD accounts, with no commissions and tight spreads on major currency pairs. Spreads start from as low as 0.6 pips on popular pairs like EUR/USD, making it a cost-effective choice for both new and experienced traders. There are no deposit or withdrawal fees, and traders benefit from straightforward pricing without hidden charges. Overnight financing fees apply for leveraged positions held open past market close, depending on the instrument traded.
SpreadEX offers 60+ pairs:
- Majors: EUR/USD, USD/JPY, GBP/USD
- Minors: EUR/CHF, GBP/JPY
- Exotics: A limited selection for niche strategies
Security is a top priority for me when choosing a broker, and SpreadEX is well-regulated. It’s overseen by the Financial Conduct Authority (FCA) in the UK, which ensures transparency and client protection. Additionally, client funds are held in segregated accounts, meaning your money is separate from the company’s operational funds. This adds an extra layer of security and peace of mind.
81% 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
What Do Our Experts Say?
Experts highlight SpreadEX for its ease of use, strong UK regulation, and flexible trading options. While it’s great for beginners and intermediates, it’s limited in global access and doesn’t support ISA or long-term investing accounts.
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 are the Fees?
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Which Forex Pairs are Available?
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How Safe is the Broker?
| Fee Type | Cost |
|---|---|
| Minimum Deposit | £250 |
| Inactivity Fee | £12/month (after 24 months of inactivity) |
| Spread Bet & CFD Admin Fee | Variable spreads; starting from 0.6 pips |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 |
IG offers 80+ currency pairs:
- Majors: EUR/USD, GBP/USD, USD/JPY
- Minors: EUR/CHF, GBP/JPY, AUD/CAD
- Exotics: USD/TRY, EUR/ZAR, USD/MXN
Security is a key concern for me, and IG meets high safety standards. It is regulated by top-tier financial authorities including the FCA (UK), ASIC (Australia), and CFTC (US). IG also employs SSL encryption and two-factor authentication to protect personal data. Client funds are held in segregated accounts, ensuring they are separate from the company’s operational funds.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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
What Do Our Experts Say?
Our experts rank XTB highly for its usability, educational content, and execution speed. The platform is ideal for traders who want a professional experience without complexity. However, MetaTrader users and those seeking a broader pair list may prefer other brokers.
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
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What are the Fees?
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Which Forex Pairs are Available?
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How Safe is the Broker?
| Fee Type | Cost |
| Minimum Deposit | £0 |
| Inactivity Fee | £10/month (after 12 months of inactivity) |
| Spread Bet & CFD Admin Fee | Variable spreads; starting from 0.1 pips |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 (for withdrawals over £60); £10 fee for smaller amounts |
XTB offers a solid but slightly limited selection:
- Majors: EUR/USD, GBP/USD, USD/JPY, AUD/USD
- Minors: EUR/GBP, AUD/CHF, NZD/CAD
- Exotics: Limited
XTB is considered a safe broker, regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Polish Financial Supervision Authority (KNF), the Dubai Financial Services Authority (DFSA), and the Comisión Nacional del Mercado de Valores (CNMV) in Spain. These regulations require XTB to adhere to strict standards regarding client fund protection, financial reporting, and security measures, ensuring a secure trading environment for its users.
73% 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
What Do Our Experts Say?
Experts see IBKR as a top-tier choice for professional traders. Its low costs, broad market access, and institutional-grade tools are unmatched. Still, the Trader Workstation platform has a steep learning curve, and the lack of MT4/MT5 may put off some users.
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 are the Fees?
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Which Forex Pairs are Available?
-
How Safe is the Broker?
| Fee Type | Cost |
|---|---|
| Minimum Deposit | £0 |
| Inactivity Fee | £0 |
| Spread Bet & CFD Admin Fee | Variable; highly competitive rates |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 (one free withdrawal per month); £0.75 for additional withdrawals |
IBKR offers 100+ pairs, including:
- Majors: EUR/USD, USD/JPY, GBP/USD, AUD/USD
- Minors: EUR/CHF, GBP/JPY, EUR/CAD
- Exotics: USD/TRY, EUR/NOK, GBP/NOK
Security is a top priority for me, and IBKR is one of the safest brokers available. It is regulated by top-tier authorities including the SEC, CFTC (U.S.), and FCA (UK). These regulatory bodies enforce strict financial transparency and client fund protection measures, ensuring a high level of security.
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
What Do Our Experts Say?
Experts recommend eToro for new and hands-off traders. The platform is intuitive and social-trading friendly, but it lacks deep technical analysis features and has higher spreads compared to pro-level brokers.
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 are the Fees?
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Which Forex Pairs are Available?
-
How Safe is the Broker?
| Fee Type | Cost |
|---|---|
| Minimum Deposit | £50 |
| Inactivity Fee | £10/month (after 12 months of inactivity) |
| Spread Bet & CFD Admin Fee | Variable spreads; starting from 1 pip |
| Deposit Fee | £0 |
| Withdrawal Fee | £5 per withdrawal |
eToro supports 40+ forex pairs:
- Majors: EUR/USD, GBP/USD, USD/JPY
- Minors: EUR/CHF, GBP/JPY
- Exotics: Not available
eToro is considered a safe broker due to its regulation by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). These regulatory bodies ensure that eToro adheres to strict standards of financial transparency and client protection. Additionally, eToro employs advanced security measures, including encryption and two-factor authentication, to safeguard users’ data and funds.
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 51% 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
What Do Our Experts Say?
In my experience, Pepperstone is a fantastic option for traders who want tight spreads, multiple trading platforms, and excellent currency pair access. Whether you prefer MT4, MT5, or cTrader, Pepperstone has you covered. Their strong customer support is also a huge plus, though their educational resources could be more extensive.
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 are the Fees?
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Which Forex Pairs are Available?
-
How Safe is the Broker?
| Fee Type | Cost |
|---|---|
| Minimum Deposit | £0 |
| Inactivity Fee | £0 |
| Spread Bet & CFD Admin Fee | Variable spreads; starting from 0.0 pips |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 |
Pepperstone offers 70+ pairs:
- Majors: EUR/USD, GBP/USD, USD/JPY
- Minors: EUR/GBP, GBP/JPY, EUR/AUD
- Exotics: USD/TRY, EUR/ZAR, USD/MXN
Pair availability may vary by region and account type.
Security is a priority for me, and Pepperstone is well-regulated by top-tier financial authorities, including the FCA (UK), ASIC (Australia), and DFSA (Dubai). These bodies enforce strict standards, ensuring transparency and client protection. Additionally, SSL encryption and segregated client funds add an extra layer of security.
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
What Do Our Experts Say?
Experts see Saxo as one of the most advanced platforms on the market. With over 180 currency pairs, a tiered pricing system, and powerful research tools, it caters to high-volume or professional traders. But it’s not ideal for beginners due to its cost and complexity.
Pros & Cons
- SaxoTraderGO & PRO offer pro-level features
- 180+ forex pairs including exotics
- Tiered pricing rewards active traders
- Strong research and market insights
- FCA regulated
- Large min. fund requirement for higher tiered accounts
- £25 inactivity fee after 6 months
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What are the Fees?
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Which Forex Pairs are Available?
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How Safe is the Broker?
| Fee Type | Details |
|---|---|
| Minimum Deposit | £0 (Classic account) |
| Inactivity Fee | £0 |
| Spread Bet & CFD Admin Fee | Variable spreads; from 0.4 pips on major forex pairs |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 |
Saxo offers one of the largest selections:
- Majors: EUR/USD, GBP/USD, USD/JPY
- Minors: EUR/GBP, AUD/CAD, NZD/JPY
- Exotics: USD/TRY, EUR/ZAR, USD/MXN
Security is a priority for me, and Saxo Bank is highly trusted and well-regulated by top-tier financial authorities, including the FCA (UK), FINMA (Switzerland), and the Danish FSA (its home regulator). These regulatory bodies enforce strict compliance, risk management, and client protection standards.
Saxo also uses SSL encryption across its platforms to safeguard user data and operates with segregated client accounts, ensuring that client funds are kept separate from the company’s own finances. Additionally, Saxo has over 30 years of operational history, giving it a strong track record in the global financial markets.
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.
Broker Comparison at a Glance
How We Test
At TheInvestorsCentre.co.uk, we take a hands-on approach to every review. Our team opens live and demo accounts with each broker, testing platforms for usability, speed, and mobile compatibility.
To choose the best Forex Broker, we analysed trading costs, spreads, commissions, and withdrawal processes in real-world conditions — not just marketing claims. We also assessed account funding options, educational resources, and customer support responsiveness. Every broker we feature has been benchmarked against strict criteria to ensure our recommendations reflect what UK traders genuinely need: safety, value, and performance.
Which Broker Fits Your Trading Style?
No broker is perfect for everyone. What matters is finding one that aligns with your trading style and experience level.
- If you want to automate trades, – Pepperstone has you covered with lightning-fast execution and raw spreads.
- Prefer a clean, no-fuss platform with great mobile access? XTB’s xStation 5 is one of the most intuitive interfaces I’ve used.
- If deep charting and analytical tools are your thing, IG and CMC Markets offer tools that can keep up.
- If you like to learn by watching others? eToro’s CopyTrader feature is a unique way to ease into the market.
Trading Scenarios That Can Help You Decide:
- “I’m brand new.” → Try XTB or eToro
- “I need powerful charting.” → Go with IG or CMC Markets
- “I scalp or day trade.” → Check out Pepperstone
- “I want to copy pro traders.” → eToro is made for that
Trading styles vary — the trick is to find a broker that works with you, not against you.
What Should You Look for in a UK Forex Broker?
When I first got into forex trading, I assumed the best broker was the one with the flashiest platform or the lowest advertised spreads. I couldn’t have been more wrong. After testing dozens of platforms over the years, I’ve learned that the right broker is about much more — especially in the UK, where we’re lucky to have access to some of the most regulated and competitive brokers in the world.
Currency Pair Selection
Not all brokers offer the same range of currency pairs. If you plan to trade beyond the major pairs like EUR/USD, GBP/USD, or USD/JPY, you’ll want access to minors and exotics too. Some brokers offer over 70–100 pairs, while others stick to the basics. I prefer having options — whether it’s hedging, diversifying, or just taking advantage of volatility in less-traded markets.
Regulation and Safety First
FCA regulation. If a broker isn’t authorised by the Financial Conduct Authority, I walk away. With FCA oversight, your funds are kept in segregated accounts, and you’re protected by the FSCS up to £85,000. It’s not just a formality — it’s real financial protection.
Trading Costs & Spreads
Low spreads are great, but they’re only a small part of the picture. Is the spread fixed or variable? Are there swap or overnight fees? Always read the fine print before committing.
Platforms and Tools
A good platform should match your trading style. I’ve used everything from MT4 and cTrader to slick custom platforms. For algo or high-frequency trading, speed and stability are key. But if you’re more visual or mobile-focused, look for a platform with strong charting tools and intuitive navigation.
Education, Support & Extra Reources
The best forex brokers don’t just offer a clean and intuitive platform; they will host a number useful educational content like tutorials, webinars, and market analysis. These tools and resources are helpful whether you’re just starting out as a trader or fine-tuning your forex strategy since a quality education will shorten your learning curve.
What are the Best Forex Broker for Beginners?
Starting out in forex trading can be pretty overwhelming. There’s a lot to learn, from figuring out trading platforms to making sense of market fluctuations. That’s why finding a broker that caters to beginners is super important. These brokers help simplify things and create a more welcoming environment for newbies.
How Can I Verify FCA Registration?
To confirm whether a forex broker is authorised to operate in the UK, you can check its status on the Financial Conduct Authority (FCA) Register.
Simply visit the FCA Register website, enter the broker’s name or firm reference number (FRN), and review their licence details.
Look for key information such as regulatory permissions, status (e.g. authorised or appointed representative), and whether they’re covered by the Financial Services Compensation Scheme (FSCS).
Verifying FCA registration is a simple but essential step to ensure your funds are protected and the broker operates under strict UK financial standards.
Is Forex Trading Legal in the UK?
Forex trading is legal in the UK and regulated by the FCA under ESMA guidelines, which cap leverage and promote fair trading. Most retail traders use CFDs, allowing speculation without owning the asset. While leverage boosts profit potential, it also increases risk — which is why limits are in place.
Do you pay Tax on Forex Trading?
For tax, spread betting is usually tax-free, as it’s seen as speculation, while CFD profits may incur Capital Gains Tax (CGT). If you’re trading professionally, different tax rules may apply. It’s smart to check with a tax advisor, especially if you’re trading large volumes or using multiple platforms.
What’s the Safest Way to Start Trading Forex in the UK?
Always start by getting a feel for the platform, testing strategies, and understanding how spreads and fees work before putting real capital on the line.
Also — never skip the fee guide. Hidden swap charges, withdrawal fees, and inactivity fees can eat into your profits faster than a bad trade.
Forex Broker Fee Structure Comparison (UK 2025)
- Spreads listed are the minimum available and may vary with market conditions.
- Commission applies mostly on pro/ECN-style accounts.
- Always check the broker’s fee schedule before trading live to avoid surprises.
Conclusion: What are the best Forex Brokers in the UK?
- SpreadEX – Best for Beginners, Overall Top Choice
- 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
If you’re trading forex from the UK, you’re in one of the safest and most respected markets in the world. With FCA oversight and a solid lineup of trusted brokers, you’re already ahead of the game.
That said, don’t just go with the first broker you find. Pick one that fits your experience level, trading goals, and preferred platform style. And above all — start small. Open a demo or low-deposit account, get comfortable, and then gradually build up.
Want to start smart? Pick a broker from this list and open a free demo account today — it’s the best way to learn without risk.
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
