7 Best Forex Brokers in the UK for 2025
Dom Farnell
Co-Founder
Dom, a Co-Founder at TIC, is an avid investor and experienced blogger who specialises in financial markets and wealth management. He strives to help people make smart investment decisions through clear and engaging content.
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Risk Warning
Please bear in mind that trading involves the risk of capital loss. 51% to 84% of retail investor accounts lose money when trading CFDs with the providers below. You should consider whether you can afford to take the high risk of losing your money.
Last Updated 14/04/2025
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
Forex Score: 4.9/5
81% of retail CFD accounts lose money.
2
IG
Forex Score: 4.8/5
71% of Retail CFD Accounts Lose Money
XTB
Forex Score: 4.7/5
73% of Retail CFD Accounts Lose Money
4
Interactive Brokers
Forex Score: 4.5/5
62.5% of Retail CFD Accounts Lose Money
Quick Answer: What is the best Forex Trading Platform in the UK?
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.
Here are the Top 7 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
Featured Brokers
IG
- Zero commissions* on stocks and ETFs.
- Award-winning xStation 5 trading platform.
- Access to 5,600+ global markets.
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.
Spreadex
- Spread Betting
- Competitive Spreads
- Trade With Leverage
- User Friendly
81% of retail investor accounts lose money when trading CFDs with this provider.
Open an account and deposit £500 to get a 6 month gift subscription to the Financial Times.
Which brokers are best for forex trading in the UK?
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 | ✅ | Proprietary | From 0.6 pips | Beginners who want a simple, no-nonsense platform with great UK support. |
| #2 | IG | ✅ | MT4, ProRealTime | From 0.6 pips | Intermediate traders seeking reliability, solid tools, and market depth. |
| #3 | XTB | ✅ | xStation 5 | From 0.1 pips | Multi-asset traders who value clean design, fast execution, and education. |
| #4 | Interactive Brokers | ✅ | Trader Workstation (TWS), Web | From 0.1 pips | Professional traders who need low-cost global access and deep analytics. |
| #5 | eToro | ✅ | Proprietary (Social Platform) | From 1.0 pips | New traders and passive investors interested in copy trading strategies. |
| #6 | Pepperstone | ✅ | MT4, MT5, cTrader | From 0.0 pips + commission | Forex-focused traders and scalpers who want low spreads and speed. |
| #7 | Saxo | ✅ | 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.
7 Best UK Forex Brokers
SpreadEX – Best for Beginners, Overall Top Choice
Why Choose SpreadEX?
SpreadEX is a solid choice for UK-based traders who want simple access to spread betting and CFDs. It offers competitive spreads and a user-friendly platform, but lacks MT4/MT5 support and international reach.
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
What are the Fees?
| Fee Type | Details |
|---|---|
| Minimum Deposit | £0 |
| Inactivity Fee | £12/month (after 24 months of inactivity) |
| Spread Bet & CFD Admin Fee | 2.5% (standard), 3% (mini) |
| Deposit Fee | £0 |
| Withdrawal Fee | £0 |
Which Forex Pairs are Available?
SpreadEX offers 60+ pairs:
- Majors: EUR/USD, USD/JPY, GBP/USD
- Minors: EUR/CHF, GBP/JPY
- Exotics: A limited selection for niche strategies
How Safe is the Broker?
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
Why Choose IG?
IG is ideal for traders who value advanced charting, in-depth analysis tools, and broad market access. It’s a professional-grade platform suited to serious traders, though its interface and fees may deter beginners.
What Do Our Experts Say?
Our experts consider IG a top all-rounder for intermediate to advanced traders. It offers powerful analytics, global regulation, and quality education. However, newer traders may find the platform complex and the costs less competitive for low-volume users.
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 are the Fees?
| 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 |
Which Forex Pairs are Available?
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
How Safe is the Broker?
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
Why Choose XTB?
XTB offers a fast, easy-to-use multi-asset platform with tight spreads and solid educational tools. Its proprietary xStation 5 platform is a strong alternative to MetaTrader, but the lack of MT4/MT5 support and inactivity fees may be drawbacks for some.
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
What are the Fees?
| 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 |
Which Forex Pairs are Available?
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
How Safe is the Broker?
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.
*Note XTB’s ISA interest for uninvested cash is currently 6.5% (4.5%+2% for 90 days) see more here
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
Why Choose Interactive Brokers?
IBKR is built for experienced traders who need global market access, low fees, and advanced tools. With over 100 forex pairs and access to 150+ markets, it’s ideal for diversified, high-volume strategies. However, the platform can be complex for beginners.
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
What are the Fees?
| 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 |
Which Forex Pairs are Available?
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
How Safe is the Broker?
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
Why Choose eToro?
eToro is a top pick for beginners thanks to its simple interface and CopyTrader™ feature, which lets you follow experienced traders. It’s not ideal for advanced users due to wider spreads and limited tools.
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
What are the Fees?
| 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 |
Which Forex Pairs are Available?
eToro supports 40+ forex pairs:
- Majors: EUR/USD, GBP/USD, USD/JPY
- Minors: EUR/CHF, GBP/JPY
- Exotics: Not available
How Safe is the Broker?
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
Why Choose Pepperstone?
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.
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
What are the Fees?
| 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 |
Which Forex Pairs are Available?
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.
How Safe is the Broker?
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.
71% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Saxo – Premium Platform, Advanced Tools, Best for Experts
Why Choose Saxo?
Saxo is built for experienced traders who want deep market access, premium platforms, and institutional-grade tools. SaxoTraderGO and PRO offer pro-level charting and execution. However, its high minimum deposit and complex fee structure make it less suitable for casual users.
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
- £25 inactivity fee after 6 months
What are the Fees?
| 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 |
Which Forex Pairs are Available?
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
How Safe is the Broker?
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.
Forex Broker Feature List
| Feature | Why It Matters | What to Look For |
|---|---|---|
| FCA Regulation | Ensures your broker is legit, secure, and operates under UK financial laws. It also means your funds are protected if the broker fails. | FCA license number, listed on the FCA Register, FSCS protection up to £85,000. |
| Spreads & Fees | Trading costs can eat into your profits — especially for high-frequency or short-term trades. | Low spreads (e.g. < 1 pip on EUR/USD), clear commission structures, no hidden fees (swap, inactivity, withdrawal). |
| Trading Platforms | Your platform affects how efficiently you can trade — from charting to order execution. | MT4/MT5 for flexibility and automation; cTrader for scalping speed; easy-to-use mobile/web platforms for convenience. |
| Support & Education | Good support helps when things go wrong. | Fast, multilingual support (live chat/phone); free webinars, tutorials, trading guides, market news feeds, trend analysis and in-platform tips. |
| Execution Speed & Reliability | Fast execution reduces slippage and ensures your orders are filled at your intended price. | Low latency servers, no re-quotes, positive user reviews on speed and reliability. |
| Account Types & Minimums | Affects how accessible the broker is to new traders, and what kind of spreads you access. | Low minimum deposit (ideally < £100 for beginners), choice between standard and ECN accounts. |
| Tools & Extras | Adds value to your trading with risk management, analysis, and automation capabilities. | Integrated economic calendars, sentiment analysis, copy trading tools, and advanced indicators. |
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.
Top Beginner-Friendly Forex Brokers in the UK
| Broker Name | Platform Used | Key Features | Why It's Great for Beginners |
|---|---|---|---|
| eToro | eToro Platform | User-friendly interface, social trading, demo accounts | Easy to use; learn by copying others’ trades |
| SpreadEX | SpreadEX Platform | Simple layout, small bet sizes, educational resources | Tailor-made for new traders with lower stakes |
| XTB | xStation 5 | Intuitive design, comprehensive educational suite | Cutting-edge tools with lots of support and info |
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)
| Broker | Min Deposit | Spreads (EUR/USD) | Commission | Overnight Fees | Other Costs |
|---|---|---|---|---|---|
| SpreadEX | £100 | From 0.6 pips | No commission | Standard | No withdrawal fees; spread betting is tax-free |
| IG | £250 | From 0.6 pips (varies) | No commission (CFDs); spread-based | Yes – varies by position | Inactivity fee: £12/month after 2 years |
| XTB | £0 | From 0.1 pips (Pro account) | £3.50 per lot (Pro); None (Standard) | Yes – transparent breakdown | No deposit/withdrawal fees; no inactivity fee |
| Interactive Brokers | £0 | From 0.1 pips | $2 per side (tiered/flat pricing) | Yes – competitive rates | Low conversion fees; very cost-efficient for volume |
| eToro | £50 | From 1.0 pips | No commission | Yes – daily swap + weekend fee | $5 withdrawal fee; inactivity fee after 12 months |
| Pepperstone | £0 | From 0.0 pips (Razor account) | $3.50 per lot (Razor); None (Standard) | Yes – varies by instrument | No deposit/withdrawal fees; no inactivity fee |
| Saxo | £500 | From 0.6 pips | Included in spread (Classic); Lower with higher tiers | Yes – detailed nightly rates | £25 inactivity fee; tiered account levels (Classic, Platinum, VIP) |
- 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
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.
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.
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.
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.
It depends on your style. IG’s ProRealTime is great for advanced charting, xStation 5 from XTB is excellent for ease of use, and MetaTrader 4 remains a classic for flexibility.
Top 5 FX Brokers
1
SpreadEx
81% of retail investor accounts lose money when trading CFDs with this provider.
2
IG
71% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
3
XTB
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.
4
IBKR
62.5% of retail investor accounts lose money when trading CFDs with this provider.
5
eToro
51% of retail CFD accounts lose money when trading CFD’s with this provider.
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
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