If you are looking to trade forex, you may be wondering which are the best forex brokers in the UK. I have managed to take out the guesswork by performing hours of meticulous research into the best UK forex brokers and the best forex trading platforms, with the highest safety regulations for every level of trader, from complete beginners to skilled traders and institutions.
Trading forex is tightly regulated by the FCA (Financial Conduct Authority) in the UK, and therefore you can rest assured that all the forex trading platforms I have listed here fall under that regulation.
Also consider: My guide on how to start forex trading
Browse the best forex trading platform for October 2026
See my list of the best UK forex brokers below, where I give an overview of each FX broker, their pros, cons and fees.
Top forex brokers UK at a glance
Capital.com offers one of the widest selections of currency pairs among UK forex brokers, with over 120 pairs spanning all the major, minor and exotic combinations. The platform is authorised and regulated by the Financial Conduct Authority (FCA) and provides commission-free trading with competitive spreads (other fees apply).
For forex traders looking to expand their knowledge, Capital.com provides outstanding educational resources through its dedicated Investmate app, as well as an integrated economic calendar to stay on top of major market announcements. The platform also offers seamless TradingView integration, allowing technically-minded traders to trade directly through TradingView’s world-renowned charts and indicators.
With no deposit fees, no withdrawal fees, no inactivity fees and a minimum deposit of just £20, Capital.com is a highly accessible option for forex traders at all levels. Leverage on currency pairs is available up to 30:1 for retail clients, and UK traders can also access forex markets via tax-free spread betting (depending on individual circumstances).
Pros
- Over 120 currency pairs, one of the widest selections available
- Commission-free trading
- TradingView integration
- Excellent educational content
- No inactivity fee
Cons
- Beware of overnight fees on leveraged positions
- Copy trading only available via MetaTrader 4
- No physical currency trading
Capital.com forex spread & fees
| Fee Type | Amount |
| Commission | Free (0%) |
| Deposit Fee | Free |
| Spread | A dynamic fee for executing your trade – the difference between the buy and sell price – reliant on underlying market conditions. |
| Withdrawal Fee | Free |
| Inactivity Fee | None |
| Minimum Deposit | £20 |
| Overnight Funding | Benchmark rate ± 4% p.a. (not charged on 1X unleveraged positions) |
Features at Capital.com I like include:
- 120+ currency pairs
- TradingView integration
- Economic calendar
- Trailing stops and price alerts
- Negative balance protection
- MetaTrader 4 (MT4)
- Demo account
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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.
IG offers more than 90 currency pairs and a choice of its own web platform and app, MetaTrader 4, MetaTrader 5, TradingView, ProRealTime and L2 Dealer, with research tools and IG Academy courses accessible from the trading platform.
In addition to this, IG is also competitive with their fees while retaining excellent levels of quality with a highly advanced and intuitive forex trading platform. Users can also rely on excellent levels of 24/7 customer service via chat, phone, email, and social media.
For forex traders looking to expand their knowledge, the trading account at IG also provides access to IG’s guide for forex traders. This includes details on forex and what it entails, how to trade currencies, and the benefits of trading forex.
IG is regulated by the FCA. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Pros
- Excellent web platform for trading
- Comprehensive educational tools
- Low trading fees
- Tight spreads
- Good market analysis
Cons
- High inactivity fee
- Lack of social or copy trading
IG forex fees
- EUR/USD – Standard Spread 0.60 pips
- Trading Cost – Standard Spread USD 6
- EUR/USD – Raw Spread 0.85 pips
- GBP/USD – Raw Spread 1.40 pips
- USD/JPY – Raw Spread 0.94 pips
- Trading Commission Fees included in spread
Features at IG I like include:
- 80+ currency pairs
- Technical analysis on charts
- Real-time streaming news
- Negative balance protection
- Offers GBP/USD, EUR/USD and USD/JPY on the weekend
- MetaTrader 4 (MT4)
- Guaranteed stop loss
- Demo account
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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 has been running from St Albans since 1999 and is authorised by the FCA as Spreadex Ltd (FRN 190941). Forex is offered as spread bets and CFDs across hundreds of currency pairs, on both spot and futures prices.
Pricing is simple. There is no commission, EUR/USD starts from 0.6 pips in peak hours, and there is no minimum deposit, with card deposits accepted from £5.
You trade on Spreadex’s own web platform or its iOS and Android apps, with TradingView integration and Autochartist pattern recognition built in. There is no MetaTrader 4 or 5. There is also no standalone demo account; practice trading is done through TradingView paper trading linked to a Spreadex account.
Client money is held at Barclays, FSCS protection applies up to £85,000 and negative balance protection is included. UK-based support runs from 7:30am to 10pm on weekdays, and the Trustpilot score is 4.4.
Pros
- Hundreds of FX pairs, spot and futures
- No minimum deposit
- TradingView integration with no commission to pay
- Client money held at Barclays with FSCS cover
Cons
- No MetaTrader 4 or 5
- No standalone demo account
- Education is limited compared with rivals
Spreadex forex fees
- EUR/USD spread from 0.6 pips in peak hours
- No commission
- No minimum deposit (card deposits from £5)
Features at Spreadex I like include:
- TradingView integration
- Autochartist
- iOS and Android apps
- Negative balance protection
- UK-based support, 7:30am to 10pm on weekdays
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors 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.
Pepperstone was founded in Melbourne in 2010 and its UK arm, Pepperstone Ltd, is FCA-authorised (FRN 684312). You can trade more than 60 currency pairs as spread bets or CFDs, and there is no minimum deposit.
The Standard account has EUR/USD from 0.6 pips with no commission. The Razor account has raw spreads from 0.0 pips with commission of about £2.25 ($3.50) per side per lot, and the EUR/USD average on Razor is 0.17 pips.
Platform choice is the widest on this page: MetaTrader 4, MetaTrader 5, cTrader, TradingView and Pepperstone’s own web platform and app. ForexBrokers.com rated Pepperstone best in class for copy trading for the ninth year in 2026, with copying done through third-party services (Signal Start, DupliTrade and MetaTrader Signals) rather than a built-in tool.
There are no inactivity or account fees. Support is 24/5 and the Trustpilot score is 4.7. The free demo lasts 30 days, which is shorter than the unlimited demos at IG and Capital.com.
Pros
- Razor account raw spreads from 0.0 pips
- Five platforms including MT4, MT5 and cTrader
- No minimum deposit
- No inactivity or account fees
Cons
- Demo account lasts 30 days
- Copy trading only through third-party services
- 60+ currency pairs, fewer than Capital.com or IG
Pepperstone forex trading fees
- EUR/USD Standard account from 0.6 pips, no commission
- EUR/USD Razor account from 0.0 pips, average 0.17 pips
- Razor commission about £2.25 ($3.50) per side per lot
- No inactivity or account fees
Pepperstone features I like:
- MetaTrader 4 and MetaTrader 5
- cTrader
- TradingView integration
- 24/5 support
- Demo account (30 days)
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.9% 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.
At Forex.com, forex traders have the choice of two mobile trading platforms, MT4 and their own proprietary mobile app. While many traders will be familiar with MT4, the proprietary platform is also worth considering as it comes with excellent tools and navigation, including place market, limit, stop, stop trailing, and COC orders.
Forex.com also offers traders the security of knowing they are listed on the New York Stock Exchange and provide access to over 80 currency pairs, some of which you won’t find elsewhere.
This isn’t a low cost broker, but still has decent spreads that start at 0.8%.
Pros
- Over 80 currency pairs
- Extensive range of features
- Good mobile app
Cons
- Inactivity fee
Forex.com trading fees
- Standard spread 1 pip
- Zero commissions
Forex.com features I like:
- Good range of platform options
- Advanced charting tools
- Demo account
- Real-time view of pricing
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.
Plus500 has a slick, intuitive web and mobile platform with an excellent range of tools to trade in various asset classes via CFDs. In terms of fees, the commission-free trading and low non-trading fees make this forex broker highly competitive.
For forex traders who conduct their trades on the move, the Plus 500 mobile app is compatible with Apple and Android devices as well as smartwatches. From here, traders can access all the great functionality and in-depth analysis, as well as execute trades and manage their trading accounts. There are also several risk management tools to help minimise losses.
Plus500 also offers a free demo account, so traders can test the platform completely risk-free. There are over 60 forex pairs that can be traded as CFDs, with leverage for trading and 24/7 support.
Plus500 is a publicly-traded company that is listed on the London Stock Exchange (LON: PLUS) as well as being regulated by the Financial Conduct Authority to offer forex trading to UK traders.
Pros
- Heavily regulated across the globe
- More than 2,500 CFDs across multiple asset classes
- Easy to use platform
Cons
- No customer support via phone
- Limited education
Plus500 forex trading fees
Plus500’s fees can be complicated.
Fee charges for Plus500 include: inactivity fee, overnight fee, currency conversion fee, and guaranteed stop fee.
We recommend reading our Plus500 review which includes a full breakdown of all Plus500 fees.
Plus500 features I like:
- Guaranteed stop
- Trailing stop
- Stop limit and stop-loss price levels
- Traders sentiment
- Price alerts
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
The thriving community of traders utilising the eToro trading platform makes it the perfect forex trading account for copy trading, providing scope to mirror the trading activities of experienced traders with proven track records. Copied traders that use eToro are offered an incentive to continue making successful trades, turning a profit for themselves and, in turn, anyone copying their trades.
eToro is a great option for people just venturing into the forex space, with more than 3 million traders available to copy and options to filter by returns, popularity among copiers, and the number of forex markets they are active in. Copy Trading can help increase profitable trades by relying on the experience and knowledge of other traders.
In addition to this, eToro is highly competitive when it comes to fees and range of currency pairs, with over 45 pairs available to choose from, all available from both the web and your mobile device.
Pros
- Copy-trading with more than 3 million active traders
- Good selection of trading tools
- Large selection of investments
Cons
- Can only trade in USD so FX fees apply
eToro forex trading fees
- EUR/USD – Standard Spread 1.00 pips
- Trading Cost – Standard Spread USD 10
- EUR/USD – Raw Spread 1.00 pips
- GBP/USD – Raw Spread 2.00 pips
- USD/JPY – Raw Spread 1.00 pips
- Trading Commission Fees included in spread
eToro features I like:
- 47+ currency pairs
- Demo account
- Guaranteed negative protection
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52% 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
List of the best forex brokers UK: FCA Regulated
Below is my authorised list of the best forex brokers for UK investors regulated by the FCA.
| Forex Broker | UK Residents Accepted | Regulated by the FCA | Minimum Deposit |
|---|---|---|---|
| Capital.com | Yes | Yes | 20 |
| IG | Yes | Yes | 250 |
| Pepperstone | Yes | Yes | $0 |
| Spreadex | Yes | Yes | $0 |
| Plus500 | Yes | Yes | $100 |
| FOREX.com | Yes | Yes | $0 |
What is forex trading?
Forex trading is the largest and most liquid financial market in the world, involving the changing of one currency into another, often with the anticipation of making a profit in doing so.
The foreign exchange market, also known as the FX market or forex market, is the global market for the exchange of one currency for another. This can be conducted for commerce, trading, or tourism reasons, and forex is usually traded as exchange rate pairs. An example of an exchange rate pair or currency pair would be GBP/USD which is the pair for trading the Great British Pound against the U.S. dollar.
In contrast to a stock market, with forex trading, there is no central marketplace. Currency trading is conducted electronically over the counter (OTC) via computer networks among traders from across the globe. This means the market is open 24 hours a day for five and a half days a week, with price changes constantly moving. This allows for speculative opportunities for trading one currency against another for professional traders and retail investors.
How to trade forex
There are two ways to trade currencies. The first is to earn the interest rate differential between two currencies. This works by buying the currency with the higher interest rate and shorting the currency with the lower interest rate.
The other way to trade currencies is to profit from changes in the exchange rate.
These fluctuations in the price of a currency will depend on supply and demand from banks participating in the spot market. These large trade flows prevent rogue traders from having any influence on the price of any given currency, which in turn helps to provide some transparency for investors.
MetaTrader 4 (MT4)
MetaTrader 4 (MT4) is a trading platform commonly associated with forex trading, but it can also be used to trade a range of other markets via CFDs, including indices, cryptocurrencies, and commodities.
See my guide to the best MT4 brokers offering the MetaTrader 4 forex trading platform.
What influences price changes in the FX market?
The value of any particular currency is based on supply and demand; however, there are some currencies, such as the Chinese renminbi, that have a fixed exchange rate. Currencies without a fixed exchange rate are known as floating currencies, and this is the case for most advanced economies, including the UK pound.
Floating currencies are constantly moving up and down in value against other currencies. These are usually small changes in movement, as small as a fraction of a cent higher or lower at the end of a trading day. However, this can change dramatically at the hands of extreme economic or political news. In this instance, there can be wild swings in price, such as a 10% fall in value the day after the UK voted to leave the European Union. This encouraged traders to sell the pound quickly, decreasing its demand and thus its value.
Another example of a market influencer are economic developments such as data that reveals the economy is growing faster than predicted, which in turn could lead to the Bank of England increasing interest rates. Higher interest rates lead to a greater return on your money and therefore increase demand, boosting its value. This is how financial markets ebb and flow in line with economic, financial, and political news.
The best forex trading platforms will often include live news feeds in their suite of tools to enhance retail traders capacity for profit. This is also the reason why mobile trading is so important: traders can react instantly to changes that may affect the price of currencies.
Why is FX trading so popular?
Forex trading is arguably one of the most popular forms of investment, with a daily average trading volume of about $5 trillion.
The main reason for this demand among investors is that forex is one of the largest financial markets in the world. The high volume and number of different currencies being traded offer a decent amount of liquidity.
However, the downside to this amount of liquidity that potential investors should be aware of is that, while you may be able to generate a return by trading forex, there’s always the potential of losing value on your investment, too.
Indeed, most platforms will report that the majority of retail investment accounts lose money when trading CFDs and forex.
There are things you can do to mitigate this risk in your investment strategy. For example, building up your knowledge of the market can help you make informed investment decisions.
Additionally, the fact that the forex market is available for trading 24 hours a day for five and a half days of the week means individual investors can react quickly to market influences, such as political and economic news.
Unlike stocks and shares, where time in the market is typically more of an influence on your success than timing the market, these rapid price movements mean gains and losses are immediate.
The forex market also benefits from leveraged trading, whereby investors can open a position on a larger portion of the forex market.
This increased exposure can magnify your gains by this margin without you having to invest the same amount of money that would usually be needed for such a trade at the outset.
However, you should bear in mind that this also means that any losses you make will be magnified in the same way. Therefore, it is important to fully understand how leveraged trading works before you invest.
Remember: no investment is risk-free, and you may not get back as much as you invested, regardless of the strategy you use.
Please note: The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Is FX trading legal in the UK?
Yes, FX trading is legal in the UK, although each platform will have its own level of regulation, and this is always worth checking. On the whole, forex brokers in the UK are regulated by the FCA (Financial Conduct Authority), which is responsible for ensuring that all UK forex brokers are licenced and are providing a trading environment that is in the best interests of the traders that use it. Regulation by the Financial Conduct Authority also provides protection for your funds under the Financial Services Compensation Scheme (FSCS), which aims to compensate traders for the loss of their trading funds in the event the broker runs into insolvency issues.
In addition to this, the FCA requires that a multi-asset trading platform keep its operating capital separate from that of its traders to ensure this is protected should the platform experience financial difficulty.
However, it may be the case that some forex brokers are regulated by a similar body outside of the UK. These regulators will be responsible for the same level of regulation as the FCA and can include:
- Securities and Exchange Commission (SEC) and the National Futures Association (NFA) in the USA
- Australian Securities and Markets Authority (ASIC) in Australia
- European Securities and Markets Authority (ESMA) in the European Union
- Autorité des Marchés Financiers (AMF) in France
- Comisión Nacional de Mercado de Valores (CNMV) in Spain
- The Financial Services Agency (FSA) in Japan
- The Securities and Futures Commission (SFC) in Hong Kong
This level of regulation should be considered the minimum when selecting a forex trading platform in order to ensure the correct levels of protection for you and your funds. This can be confirmed on the FCA’s own website, where they supply a register of all forex brokers in the UK who adhere to these standards.
Despite these regulations, it is crucial to understand that trading CFDs, FX, and cryptocurrencies comes with a high degree of risk, and providers are required to publish the percentage of retail investor accounts that lose money when trading CFDs on their trading platform.
Forex broker FAQs
Will I be taxed on my forex trading profits?
If you are an amateur trader who is trading as a side gig, then you are only liable for tax on profits over and above the trading allowance. The trading allowance allows you to earn up to £1000 of income tax-free, anything over and above this amount will be taxed at the standard rate for capital gains tax.
What is the difference between CFDs and forex?
The main difference between CFDs and forex is that CFD contracts cover a wide range of assets whereas forex is limited to just currencies.
