Finally, the broker also scored well for their award-winning customer service and trust making them the best ‘well-rounded’ UK forex broker for currency and CFD trading. We are impressed with Pepperstone as they provide services that deliver better overall value for you as a trader. Our testing of the best brokers found Pepperstone to be the 2025 best broker https://digiconomist.net/bitcoin-energy-consumption based on our execution speed tests, published low spreads and forex trading platform range offered.

• To choose a UK forex trading platform, you should go through the options your broker offers; most commonly, they’ll be MetaTrader 4, MetaTrader 5, or TradingView.
• TradingView’s advanced charting tools include 80+ indicators covering all the popular indicators such as Ichimoku Clouds, SuperTrend indicator, and Pivot Points.
• As you can imagine, this is very impressive as it means you will only be paying a small commission for every trade, helping you cut down on your trading fees.
• You can only trade with a standard account but the spreads are low averaging 1.06 pips when you combine the 5 major currency pairs and well below the industry average of 1.52 pips.

– Top Forex Broker For No Commissions

Like IG Group, CMC Markets offers an impressive range of financial instruments, but we found that CMC offered a superior range of currency pairs compared to IG Group. We’re a fan of this as other brokers that have option markets tend to provide another platform to trade them, such as AvaTrade’s AvaOptions platform. Aside from the app’s good looks, one of its better tools is +insights, which captures all of Plus500’s client data to generate trending assets based on buying and selling pressure.

How Can You Trade Forex In The UK?

One of the tests we like to do is to get the top five major pairs we test with (EUR/USD, USD/JPY, GBP/USD, AUD/USD and USD/CAD) and add up the spreads to get an overall average spread. City Index had an average spread of 1.24 pips in our tests, way lower than the 1.52 pip average. The broker has a low minimum deposit, which we look for in a broker, making it suitable when you are ready to transition from the demo to a live trading account. However, we had to request access to the MT4 platform, which we are not fans of; this just added friction to getting started. CFD trading with XTB includes 71 Forex pairs, 33 indices, 1977 shares, 171 ETFs and 27 commodities but you can also trade shares and ETFs.

As a Forex Trader, What Taxes Will I Pay As A Trader?

FxPro provides a good trading experience with a selection of popular trading platforms and decent trading fees, including variable or fixed spreads and commission-based trading. Spreads averaged 0.7 pips on EUR/USD, 1.1 for EUR/GBP and 1.1 for GBP/USD with their standard account which are all very competitive. We also like their trading platform – City Index Platform, which includes unique tools to improve your trading along with MT4 and TradingView. It took us just 3 minutes to sign up for a demo account Just provide your email, country of residence, name and phone number, create a password and select an account type. The standard account type is for retail traders, while professional traders can use a Pro account. We like CMC Markets as their CMC Next Generation platform is excellent for trading CFD like their 338 currency pairs.

Forex Trading Spreads And Costs

EToro is the best broker for copy trading tools thanks to its intuitive CopyTrader platform, which makes it effortless to copy profitable traders. With CopyTrader, you can filter traders based on your metrics, including markets, draw-down tolerance, and frequency of trades. Plus500 has an excellent trading app as it https://immediate-edge-app.com/ is well designed to manage trades and analyse the markets on the go.

EToro has over 300,000 traders you can copy from, so filtering down the traders that meet your requirements is a must. We like that once you have chosen your trader to copy, the CopyTrader platform will automatically open and close trades at the same time your trader does. So, it would be best if you found a trader that meets your goals, and eToro will do the rest for you. Our tests https://www.investopedia.com/terms/c/cryptocurrency.asp identified Pepperstone as having an exceptional market order execution speed of 100ms – practically instant on MT4 platforms. While reviewing FxPro, we used the cTrader platform, essentially the MetaTrader 4 and 5 platforms combined with a better interface but with less of a community behind it.

XTB provides over 4,500 markets and allows you to demo their xStation5 platform or MetaTrader 4. With over 1,200 markets and average spreads of 1.7 pips on EUR/USD, plus500 combines variety with affordability with its services. We were disappointed that OANDA didn’t offer share CFDs, which let it down a touch in our review. However, the excellent trading platforms, low trading costs, and strong regulatory approvals helped overcome this negative. Pepperstone has low spreads, averaging 1.12 pips on EUR/USD for its standard account (no-commission) and averaging 0.1 pips on EUR/USD on its RAW account. After opening a live account with Pepperstone, we found that its spreads were better than advertised on its RAW pricing account.

Forex Regulation In The United KingdomThe recommended UK forex brokers on this page are listed on the Financial Conduct Authority FCA register. It was called the Financial Services Authority (FSA) before 2013, after which the Banking Reform Act reformed the authority. As part of Europe, Great Britain follows the ESMA guidelines on CFDs, spread betting and Forex Trading. You should review the deposit methods and minimum deposits by the forex broker, as they can meet the above requirements but require a high minimum deposit (not ideal). Most brokers in the UK offer a range of deposit methods; the most popular are bank transfer and debit card depositing; however, some brokers also take e-wallets like Skrill and PayPal. Some brokers make EUR/USD cheap but have expensive spreads for other major pairs, which can distort the overall pricing.