Best Forex Brokers UK 2024

Forex is a popular way to start online trading in the UK. The UK has always been a hotspot for forex trading, with many excellent brokers available. UK online brokers require certain levels of regulation to operate with clients within UK borders. 

To ensure that you find the perfect broker and trading platform for your needs, we have rounded up the top forex brokers in the UK below. These have all been carefully chosen with regard to regulation, currency pairs available, fees, and more. 

Best Forex Trading Platforms UK 2024

There are many different UK brokers available – each one offering a unique opportunity for trading. If you are interested in getting started with forex trading in the UK, then be sure to consider the following brokers.

Here is our selection:

  • Plus500
  • AvaTrade
  • Interactive Brokers
  • eToro
  • Pepperstone
  • FP Markets
  • XTB
  • XM
  • FXTM
  • TickMill
  • Vantage FX
  • IC Markets
  • TMGM
  • City Index
  • IG
  • Swissquote
  • HYCM
  • Eightcap
  • VT Markets
  • Blackbull Markets
  • OctaFX
  • easyMarkets
  • HotForex
  • CMC Markets


Plus500 is an international broker with a popular online trading platform. This broker caters to a range of CFD trading options, with many different instruments available. 

Plus500 is licensed by the FCA to make it compliant with UK regulations. Traders can enjoy commission-free trading and leverage available. 

Plus500 Comparison
You can trade CFDs for free stock optionsThe research tools could be improved
Trading is commission-free
Leverage available
A user-friendly trading platform with a demo mode
Visit Plus500 >>


This popular online trading platform offers a choice of three different apps for specific traders and markets. AvaTrade is a top choice for forex and CFD trading. Users get access to excellent tools and helpful trading content.

AvaTrade Logo
Great technical research tools available
Easy to open an account
Different trading apps available
Great technical support
Open Free Account

Interactive Brokers

Interactive Brokers is a trustworhty broker for advanced traders. The Trader Workstation desktop platform is appealing to active day traders – supplying advanced tools for efficient trading. The fees are good and the trading portfolio is great.

Interactive Brokers Logo
Superior research toolsSome fees are rather high
A wide-ranging investment portfolio available
ETF and stock trading is commission-free
The ideal platform for active day trading
Open Free Account


eToro is one of the best-known online trading platforms in the world. This broker is highly regulated for safe and efficient trading in the UK. Users can make use of the easy-to-use trading app and a wide-ranging portfolio. 

eToro is well-loved for its social trading feature that allows you to copy the moves of other top-performing forex traders. There is also a demo mode available.

comparison etoro logo
Excellent social trading featuresForex trading fees could be better
A popular trading platform with a large communityResearch tools could be improved
A wide-ranging trading portfolio available
Easy to use
Open Account

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. {etoroCFDrisk}% 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. Your capital is at risk. Other fees apply. For more information, visit


Pepperstone is a popular broker in the UK and offers a great range of opportunities. There are versatile currency pairs, high speeds, and very low CFD and forex fees. 

Pepperstone offers a great trading app for fast and efficient use. Beginners will also enjoy this user-friendly platform, as well as its free demo mode. 

Pepperstone Logo
Daily cash rebates for active tradersNon-EU members don't get investor protection
Equity index CFD and forex fees are lowBesides CFD trading, this platform has limited investment opportunities
VIP trading platform on the app
A fast and effective trading app for all levels of traders
Open Free Account

FP Markets

FP Markets is a forex and CFD broker that accommodates all levels of traders. Trading fees are low, the educational content is of high quality, and beginners can make use of the demo account. Opening an account with FP Markets is easy.

FP Markets Logo
Low forex trading feesThe desktop trading platform needs work
Quality educational content
Easy account opening process
Open Free Account


This London-based broker has a fast and efficient trading platform. It is well regulated in the UK and offers excellent opportunities for trading and currency pairs. 

XTB traders can enjoy very low fees and a really great app for a trading platform. Deposits and withdrawals are mostly free. The downside is that you dont get as much data on trading as some other brokers provide.

XTB logo
Trading fees are lowNot the best educational data available
An efficient trading platformFees for stock CFD trading are high
Account Opening
Free withdrawals and deposits
Open Free Account


XM is an excellent forex trading platform in the UK thanks to its high level of regulation. The trading platform is easy to use and open an account on. There are also great tools to use and quality educational content available.

XM Logo
Quality educational toolsSome fees are high
Low withdrawal fees
Easy to open an account
Great currency pairs available
Open Free Account


This global broker offers a fast and efficient platform for UK traders. FXTM appeals to beginners as well as experienced traders thanks to its great tools and user-friendly platform. 

Opening an account is easy, and the broker offers some of the best educational tools, such as webinars. FXTM is well regulated for safe UK trading.

Easy account opening processVarious fees involved
Great tools and educational content
 User-friendly trading platform


This FCA-regulated broker is a top choice for busy traders. There is very limited market access available, but for forex trading, you have everything you need. The platform offers low fees and a fully digital experience. 

Tickmill Logo
Easy to open an accountLimited trading portfolio
Low forex and inactivity fees
Excellent educational content
Fast and responsive customer support

Vantage FX

This specialized broker ticks all the right boxes. Fees are very low, there are no inactivity fees, and opening an account is easy. Vantage FX also offers superior educational content and tools.

VantageFX Logo
Great educational research toolsThe investment portfolio is limited
Low trading feesSlow customer support
Opening an account is fast and easy

IC Markets

IC Markets is a great broker that offers a particularly good trading platform. They have very low forex fees, and free deposit and withdrawal options. There are notable research and educational tools available.

IC Markets Logo
Great educational research toolsNo investor protection offered for UK traders
Low forex feesLimited investment portfolio
Free deposits and withdrawals
Easy to open an account
Open Free Account offers a web-based trading platform for easy access to the foreign exchange market. Beginner traders will love the easy-to-use platform. The mobile trading platform is fast and efficient, and the research tools are good. Logo
User-friendly trading platformTrading fees are quite high
Well-suited platform for beginner tradersThe platform lacks educational content
Wide range of currency pairsAdvanced traders may require more trading tools


Trademax Global Markets, or TMGM, is a broker that offers very low fees for forex trading. Opening an account and getting started is particularly easy with this broker. It is also very easy to do deposits and withdrawals through TMGM, which are also free.

TMGM logo
Low feesLimited product portfolio beyond forex
Focuses on forex trading with great currency pairs availableEducation and research tools are very limited
Easy to open an account
Free deposit and withdrawal options

City Index

This broker appeals to traders with its low fees and easy account opening process. The research tools are top quality, and the options for trading are extensive. Non-trading and withdrawal fees are also kept to a minimum.

City Index Logo
Low forex trading feesNot the best trading platform
Easy to set up an accountLimited portfolio beyond forex and CFDs
A wide range of powerful research tools


This long-standing UK broker remains a top choice for traders. IG is highly regulated and offers a very user-friendly trading platform. The educational resources and trading tools are particularly good.

IG Logo
Offers extensive currency pairsFees are quite high
Efficient desktop trading platformLimited trading portfolio available
Great educational tools on offer
Deposit and withdrawal options


SwissQuote is a well-established broker based in Switzerland. The platform is very efficient for active trading, and it appeals to advanced foreign exchange traders. There is a great range of currency pairs, and the broker is highly regulated.

SwissQuote logo
No inactivity feesTrading fees are high
A well-established and regulated Swiss brokerSuitable for experienced traders
Excellent currency pairs available


HYCM is a good choice, as it specializes in forex. Trading fees are low and there is plenty of quality educational content available. The research tools are diverse, and opening an account is fast and efficient. 

Offers great trading options for forexOther than forex, the portfolio is limited
Quality educational research toolsHigh inactivity fees
Low feesCustomer support
A user-friendly trading platform


This Australian broker is well-regulated and a good choice for UK traders. Eightcap offers plenty of currency pairs and offers good market access for a wider-ranging trading portfolio. 

Eightcap Logo
Easy-to-use platformHigh account minimum
Regulated brokerFees and commissions
Low feesCustomer support
Great currency pairs availableResearch tools available

VT Markets

VT Markets is good broker that has some offers unique features through their trading central. Their trading platform is easy and runs through MT4. There are also premium trading tools available through Trading Central. VT Markets trading fees are low. 

VT Markets logo
Currency pairs availableLimited research
An easy to use trading platformNo mobile trading available
Powerful trading tools available
A well-regulated platform

BlackBull Markets

BlackBull Markets is an efficient broker for easy forex trading. This broker supports MT4 and various social trading platforms. The range of research and education tools is great, and the broker is well regulated for forex and CFD trading. 

Blackbull Markets Logo
Great research and educational toolsLimited investment offering beyond forex
Offers social trading platformsMobile trading platform
Commissions and fees are low


OctaFX is a broker that supports MetaTrader and cTrader. This broker has a particularly good mobile trading app. OctaFX boasts low forex fees and plenty of currency pairs.

OctaFX Logo
Low fees and commissionsResearch and educational tools are lacking
Mobile trading app
A forex-first broker with plenty of currency pairs


EasyMarkets is a top choice for beginner traders. This user-friendly platform is easy to navigate and start trading on. The broker supports MT4 and offers unique deal cancellation and freeze rate features. 

Easy Markets Logo
Easy to use trading platformTrading fees are high
MT4 is great for guaranteed stop-loss ordersMarket research tools are limited
Well regulated in the UKThe choice of tradable products is limited


HotForex is a great and versatile broker. Their trading platform supports MT4 and MT5. There is a demo account for newbies and excellent social trading features. The forex trading fees are also kept to a minimum.

HotForex Logo
Forex fees and commissions are lowNot the best broker for traders wanting to invest in more than just forex
Plenty of currency pairs
Has a great social trading feature
The trading platform has a demo account

CMC Markets

CMC Markets should be a top consideration. This long-standing broker is well-regulated and offers excellent online trading platforms. It is a CFD broker with great currency pairs available. 

Besides very low forex fees and free deposits, CMC Markets also offers a wide range of other investment opportunities. The wide-ranging portfolio, customizable trading platforms, and great trading tools make CMC Markets a smart choice. 

CMC Markets Logo
Low forex feesThe account opening process is tricky
Great trading platforms availableStock CFD fees are on the higher end
Excellent education and research tools
Wide-ranging trading portfolio available

Risks of Forex Trading and Risk Management Tools 

One of the essential tasks for becoming a successful trader is understanding risk management. Markets are volatile and foreign exchange prices are always changing. There are various risks involved in forex trading, such as exchange rate risks, interest rate risks, liquidity risk, credit risk, country risk, and more. 

Risk management tools can be used by forex traders to help mitigate risks. This includes different order types which should be offered by your broker. Basically, this refers to how you will be able to enter into and leave a certain trade.

How to Pick a Forex Broker in The UK

  • Regulation: All brokers based in the UK must be regulated by the FCA for reliable trading. Some international brokers will also be regulated by other top-tier regulators.
  • Fees & Commissions:  Different brokers charge different fees and commissions. Try to choose a brokerage firm that offers low spreads for your trading strategy. Fees and commissions can vary on spreads.
  • Currency Pairs You Can Trade: Forex trading is all about exchanging different types of currencies. Look for a broker that offers the right currency pairs for your trading needs.
  • Account Types: Trading platforms and brokers can offer various account types. These can include mini, macro, and standard accounts, as well as demo or VIP, accounts for different trading experiences.
  • Order Types and Risk Management: Consider the different order types that the broker has available. This can help with risk management in forex trading. Order types can include stop loss, stop entry, market, limit entry, and trailing stop.
  • Leverage Available and Margin: Consider how much leverage the broker supports. Leverage is related to the margin, so compare these factors when choosing a broker.
  • Account Minimums: The minimal amount of capital needed to open an account and start trading. This varies between brokers, and it should agree with your available capital. 
  • Trading Tools Available: Different platforms offer different trading tools for an enhanced and more up-to-date experience. The more trading tools available, the better.
  • Research Available: The best platforms should offer great market research tools for more informed trading.
  • Trading platforms available: Different brokers offer unique trading platforms this can include desktop and mobile apps. Make sure that these are compatible with your devices. Brokers support different platforms, such as MT4, MT5, and cTrader for a better experience.  
  • Customer Support: Great customer support can completely change your experience. 

Spread betting vs CFD Forex

With spread betting, traders open a position by depositing a certain percentage of the full spread. This means it is a leveraged financial product. 

CFD forex trading requires traders to open a position by depositing a percentage of the trade’s total value. This makes it a leveraged product. 

Best Forex Trading App UK

Out of all the forex trading apps in the UK, we recommend Pepperstone as the top choice. This app is full of useful trading features and is well regulated in the UK. 

Best For Beginners

eToro is our top beginners trading platform for forex. Traders can use copy trading, the demo account, and the easy-to-use trading platform. 

About the author

Ziga Breznik is the owner and head of research at – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.