If you are considering buying and selling currencies online – you need a top-notch Forex trading platform. By performing a simple Google search, you will see thousands of potential suitors.
Therefore, the process of finding the best Forex trading platform for you can be time-consuming. After all, you need to explore things like supported currency pairs, commissions, minimum account balances, and regulations.
In this guide, we review the best Forex trading platforms of 2023. We’ll also walk you through the steps you need to start buying and selling currencies on the top Forex trading platforms
eToro – the best regulated FX trading platform in the world
Forex.com – The Best Forex Broker for Professional Traders
Best Forex Brokers China Review – Compare Forex Trading Platforms
There are trillions of pounds worth of trading activity in the Forex trading world every day. So it makes sense that dozens of FCA-regulated trading platforms are already open. This allows you to find a provider that meets your financial goals.
We’ve done the legwork for you by reviewing the best forex trading platforms in China.
1. eToro – The Overall Best Forex Trading Platform in China for Beginners
With over 17 million investors now using eToro to buy and sell financial instruments, this top-tier Forex trading platform is well worth considering. So, this is especially true if you are new to the world of Forex trading and are looking for a user-friendly platform to get started.
First, eToro has over 50 Forex trading pairs. This includes most major and minor currency pairs as well as a selection of exotic currencies. Commission-free trading is available on all supported forex pairs on eToro. All supported FX pairs on eToro can be traded commission-free, so the only applicable fee is the spread. The same goes for the platform’s other supported asset classes – which include thousands of stocks, ETFs, and cryptocurrencies, making it the best Ethereum trading platform out there .
eToro also allows you to trade Forex using leverage. According to the UK Financial Regulatory Authority, with a UK retail investor account you can trade major currency pairs and cross/exotic currency pairs with leverage of up to 1:30 and 1:20. This allows you to start trading Forex with a small amount of capital. In fact, eToro’s minimum deposit is only $50. Perhaps the most innovative feature offered by this top-ranked UK Forex trading platform is the copy trading tool.
This allows you to select an experienced and profitable Forex trader using eToro and then copy all their positions one by one. This feature is particularly popular with newbies who wish to trade Forex but do not understand the basic principles of technical analysis. There are no additional fees to use the eToro Copy trading tool, so you still enjoy a commission-free experience. As a leading social trading platform, eToro is also great for sharing Forex trading ideas with other users of the site.
If you want to start using eToro today, this top Forex trading platform supports a range of UK payment methods. This includes debit/credit cards, e-wallets such as PayPal and Skrill, and traditional bank transfers. Of course, eToro is heavily regulated when it comes to safety and security. Not only does it hold a license from the FCA, but eToro is also authorized and regulated by ASIC and CySEC.
Super user-friendly online broker and trading platform
Trade thousands of assets with tight spreads
100% commission free
You can also trade stocks, indices, ETFs, cryptocurrencies, and more
Funding methods using debit/credit card, e-wallet or bank account
Social trading and copy trading
Regulated by the UK FCA, Australian ASIC and Cyprus CySEC
Provides negative balance protection
Not suitable for advanced traders who prefer to perform technical analysis
67% of individual investors lose money when trading CFDs on this site
2. Libertex – UK zero-spread, low-cost foreign exchange trading platform
Next on the list of the best forex trading platforms in the UK is Libertex. The platform has been active in the online forex trading scene since the late 1990s and is home to a range of major, cross and exotic currency pairs. For the latter, you can trade Forex pairs containing the Singapore Dollar, Russian Ruble, Mexican Peso, and more.
Unlike eToro, Libertex charges a small commission every time you place an order. However, the average charge per side is only 0.01%, and Libetex also provides zero spread. Therefore, this top-rated forex trading platform offers extremely competitive fees, even when factoring in variable commissions.
In addition to Forex, Libertex also offers a large selection of CFDs. This includes stocks, metals, indices, oil and gas, ETFs, and more. Once you open an account with Libertex, you can trade Forex through your web browser. This avoids the need to download third-party software. However, if you are a seasoned professional and want access to advanced order types and technical indicators, Libertex is also compatible with Metatrader 4 (MT4).
The main Libertex platform and MT4 are also accessible via native mobile apps. Another feature Libertex offers is its education segment. This provides a guide and explainer of key Forex trading terms. When it comes to deposits and withdrawals, Libertex makes the deposit process simple. If you want to benefit from instant deposits, you can choose a UK debit/credit card or e-wallet.
The minimum deposit for this top Forex trading platform is just £100. Once you make your initial deposit, each trade is priced at £10. In terms of safety and security, Libertex is regulated by CySEC in Cyprus. However, it is authorized to accept UK traders. Furthermore, as mentioned earlier, Libertex has been active in the online trading world for more than 20 years – so it is an established player in the Forex market.
Zero spread CFD trading
Extremely competitive commissions – starting from 0%
83% of retail investors lose money when trading CFDs on this site.
3. Forex.com • Best UK Forex Broker for Professional Traders
Forex.com was launched as early as 2001 and is a very mature trading platform. If you are a professional trader looking for advanced Forex services, this provider is likely what you are looking for. First, you will have access to over 80 Forex currency pairs.
This covers most bases in the world of currency trading – whether majors/crosses or exotics. In terms of fees, Forex.com offers three account plans. If you are on a Standard account you will benefit from zero commission trading and spreads of 1 pip.
However, if you are an experienced professional with larger trading volumes, you will want to consider a commission or STP professional account. The former allows you to get a spread of 0.2 pips on EUR/USD. In turn, you will pay a commission of $5 for every £100,000 traded.
Alternatively, the STP Pro account offers 0.1 pips on most currency pairs, with commissions starting at just $60 per $1 million traded. No matter which account plan you sign up for, Forex.com is compatible with MT4. The platform also supports MT4 VPS hosting, which makes it an excellent choice for automated Forex EAs and high-frequency traders.
To get started, Forex.com requires a minimum deposit of just £100 when using a debit/credit card or Paypal. If you choose bank wire, there is no minimum deposit. Finally, Forex.com is authorized by the UK FCA and many other agencies around the world.
Professional Forex Trading App
Access dozens of currency pairs
Particularly strong performance in foreign currencies
There is no minimum deposit when choosing bank wire transfer
There is no guarantee that you will make money with this provider.
How to choose the best trading platform for you
So, now that we have reviewed the best Forex trading platforms 2023 – it’s time to explain how you can find the provider yourself. After all, no two brokers are the same, so you need to make sure the platform is good for your Forex trading needs.
Below you will find a list of important factors that you should consider when looking for the best Forex broker.
The global Forex trading industry now sees trillions of dollars worth of currency changing hands every day. As a result, this online trading scenario is heavily regulated in most parts of the world. However, not all Forex trading websites have the necessary licenses or authorizations to operate in the countries they serve.
In other cases, while the platform may hold a license, this may be from a questionable offshore financial institution. Therefore, you should only open an account on a Forex trading platform that is regulated by a reputable licensing authority.
This may include:
SEC (United States)
By choosing a Forex trading platform that is regulated by one or more of the above bodies – you can rest assured that the provider is safe.
For example, our top rated Forex trading platform – eToro, is regulated by the FCA, CySEC and ASIC. It is also registered with FINRA in the United States. In summary, these agencies have strict expectations for the best FX brokers they regulate, all centered around fairness, transparency and investor protection.
tradingplatforms.com/uk has no intention that any of the information it provides is used for illegal purposes. It is your own personal responsibility to make sure that all age and other relevant requirements are adhered to before registering with a betting operator.