TradingPlatforms Forex trading platform UK
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For investors based in the UK and researching forex trading platforms, there are a number of forex brokers that are authorized and regulated by the FCA.

In order to find the right forex platform for their needs, prospective FX traders will need to look at factors like supported currency pairs, fees and commissions, trading tools, payments, and customer support. In this guide, we review several forex trading platforms that UK investors are accepted at.

In This Guide

UK Forex Trading Platforms List for 2023 

Below are various forex trading platforms suited to beginners. We review each forex trading platform in more detail further down on this page.

  1. eToro – eToro offers traders a diverse range of over 3500 instruments, including stocks, commodities, forex, and cryptocurrencies. The platform is notable for its social trading feature, which allows traders to copy other users’ trades and strategies.
  2. XTB – XTB is a zero-commission platform that offers its clients access to over 5400+ instruments from CFDs for forex, commodities, indices, stocks and ETFs. This broker offers advanced trading and charting tools through the xStation 5 trading interface.
  3. AvaTrade – A trading platform that provides a multitude of financial instruments. AvaTrade offers a range of trading platforms from MetaTrader 4, AvaOptions, DupliTrade, AvaSocial and AvaTradeGO providing limitless trading experience.
  4. Trade Nation – An FCA regulated broker and covered by FSCS which segregates user funds at London based Barclays Bank. The platform offers access to over 1000+ markets offering CFD trading and low cost spread bets.
  5. Admiral Markets – Classed as an investment ecosystem, Admiral Markets offers limitless investing in over 8,000 financial assets. The platform offers technically advanced financial analysis tools through the MetaTrader 4 and 5 interfaces, with endless customization through MetaTrader Supreme Edition and Stereo Trader.
  6. Pepperstone – Voted an award-winning MetaTrader 4 brokerage in 2023. Pepperstone offers a Razor Account type with zero pip spreads on 14 forex pairs and lower cost spreads on all other instruments than a standard account.
  7. Plus500-Plus500 is a UK-based brokerage that stands as a FTSE 250 company listed on the London Stock Exchange. The platform offers CFDs for stocks, forex, commodities, and indices and provides a wide range of analytics through regular news and market insights.
  8. Alvexo – Founded in 2014 by a team of industry veterans, Alvexo is a regulated global investment brokerage offering a variety of payment methods, including PayPal, ApplePay and GPay. Alvexo offers CFDs for stocks, indices, currencies, commodities, and ETFs.
  9. Skilling – Skilling offers a range of instruments and is suitable for both novice and experienced traders. They offer a variety of integrated trading interfaces from cTrader, MetaTrader 4 and proprietary Skilling Trader. Skilling Copy has more than 400 pre-made strategies ready to be copied.
  10. FXCM – FXCM is a client-first, trader-driven brokerage. The platform provides access to spread betting, forex, and CFD trading services and has won multiple awards in the last three years.
  11. – was established in 2001 and is part of the StoneX Group. The platform offers CFDs for forex, indices, commodities, and shares. They have a notable news and analysis section that discusses popular trading topics, financial market alerts, and week ahead reports.

*not available for existing ECN clients, other fees may apply

UK Forex Brokers Reviewed – Compare Forex Trading Platforms

The forex trading market witnesses trillions of pounds in daily activity. Consequently, numerous FCA-regulated trading platforms in the UK have emerged, offering traders the opportunity to find a provider aligned with their financial objectives.

1. eToro – UK regulated trading platform with copy trading features; trade over 50 forex pairs; supports cryptocurrencies

etoro forex trading platform logo

With more than 27 million investors as of 2022 using eToro to buy and sell financial instruments, this forex trading platform has a wide user base.

eToro is home to over 50 forex trading pairs. This includes many major and minor pairs, along with a good selection of exotic currencies. All supported forex pairs on eToro can be traded commission-free, so the only fee applicable is the spread. This is also the case with the platform’s other supported asset classes, which include thousands of stocks, ETFs and cryptocurrencies, making it also a Bitcoin and Ethereum trading platform.

best forex trading platform for beginners

eToro also offers forex trading with the potential for high leverage. Under FCA regulations, the maximum leverage available to UK retail investors is 1:30 for major currency pairs and 1:20 for minors and exotics. This allows for forex trading with a modest initial capital. In fact, eToro’s minimum deposit requirement is just $10 (£8).

One standout feature of this UK-based forex trading platform is the Copy Trading tool, which is particularly innovative. With this tool, you have the option to select a seasoned and profitable forex trader who uses eToro and automatically replicate their trading positions. This feature has gained popularity, especially among beginners seeking to engage in forex trading without an in-depth understanding of technical analysis. It’s noteworthy that there are no extra charges for using eToro’s Copy Trading tool, ensuring you can still trade forex without commission fees, albeit through another trader.

eToro also facilitates the exchange of forex trading insights and ideas among its user community.

eToro copy trading

In terms of deposit options, this UK forex trading platform supports a range of UK payment methods. This includes debit cards, e-wallets like Paypal and Skrill, and a traditional bank transfer. When it comes to safety and security, eToro is heavily regulated. Not only does it hold a license with the FCA, but eToro is also authorized and regulated by ASIC and CySEC.

74% 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.

2. XTB – Trade forex with leverage of up to 1:30 in the UK; 49 different currency pairs available; spreads from 0.1 pips

best uk forex trading platformAs an online trading platform, XTB offers simplicity and cutting-edge tools and is ideal for beginners and experienced traders.

Advanced traders may consider utilizing the 1:30 leverage available, enabling them to access 49 currency pairs encompassing major, minor, and exotic options. Beyond this, XTB offers numerous benefits for traders. For instance, major pairs like GBP/USD can be traded with spreads as low as 0.1. Furthermore, XTB accommodates both large and small trades, catering to traders of all levels.

forex trading platform uk

With XTB’s educational courses, new platform users can learn how to trade forex. In addition, they can keep up to date with all the latest news and developments in the foreign exchange markets and learn about the basics of trading.

Additionally, traders don’t need to deposit before they can start trading. There is also the option to trade microlots, which is substantially beneficial for them. There are also more than 2100 global markets that traders can trade in, including crypto, stocks, commodities, ETFs, and indices.

Both the xStation 5 and the xStation mobile platform are available to traders. Furthermore, multiple reviews and comparison sites have awarded XTB for their safety and implemented industry-leading security protocols.

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.

3. AvaTrade – CFD and Forex Broker with low fees, regulated by the FCA

AvaTrade is an FX and CFD broker that was founded in 2006 and is authorized by numerous financial regulators, including the Australian Securities and Investments Commission (ASIC)AvaTrade forex trading platform and the Central Bank of Ireland (CBI). Users of Avatrade can trade forex, CFDs, and cryptocurrencies without paying a commission.

AvaTrade provides forex trading as well as a broad range of CFD derivatives, including stocks, bonds, ETFs, commodities, and indices. Traders may also trade seven different cryptocurrencies straight through the AvaTrade platform with no commissions and no bank fees.

AvaTrade forex trading platform uk

Traders using AvaTrade will only encounter trading fees in the form of the bid-ask spread and the overnight financing fee if positions are held beyond standard trading hours.

For non-trading fees, there are no charges for deposits, withdrawals, or account maintenance. However, it’s important to note that AvaTrade imposes a $50 inactivity fee after three months of account inactivity. Additionally, following one year of inactivity, an annual administration fee of $100 will be debited from the trading account.

AvaTrade forex trading dashboard

These include the Australian Securities and Investments Commission (ASIC), the South African Financial Sector Conduct Authority, Japan’s Financial Services Agency and the Financial Futures Association of Japan, the Abu Dhabi Global Markets Financial Regulatory Services Authority, CySEC, the Central Bank of Ireland, the B.V.I (British Virgin Islands) Financial Services Commission, and the Israel Securities and Exchange Commission. AvaTrade is also an Islamic forex broker.

Your money is at risk.

4. Trade Nation – Forex trading platform that supports MT4; the first regulated signals provider; trade over 1000 financial instruments

uk forex trading platform

Continuing with our review of forex trading platforms in the UK, we have Trade Nation. Trade Nation is under the regulatory oversight of the Financial Conduct Authority (FCA) and stands out for its low-cost fixed spreads, making it one of the most cost-effective choices for forex trading in 2023.

Trade Nation provides access to a wide range of major currency pairs from across the globe, including some of the most commonly traded forex pairs. Traders have the flexibility to use either MT4 or TN Trader, which offers technical analysis tools and incorporates risk management features.

The platform offers a user-friendly interface, and its mobile application ensures efficient trading on the go. For in-depth market analysis, traders can also utilize the desktop trading platform. Trade Nation supports traditional forex trading, as well as forex spread betting and CFD trading. This versatile approach caters to a diverse range of traders and accommodates various trading strategies

tradenation best uk forex broker

As well as forex, Trade Nation supports over 1000 financial instruments across different markets. Users can trade stock CFDs, indices, commodities and other popular markets through the platform. This makes it possible to diversify.

Trade Nation also provides highly-rated signal software that is regulated by the Financial Conduct Authority. The signals platform can be used to guide trading decisions and offer an extra layer of insight into the market.

There is no minimum deposit requirement for Trade Nation, and users can practice trading with the demo account for free before they deposit any funds. The customer support team is available 24/5 if you have any queries.

75% of retail investor accounts lose money when trading CFDs with this provider.

5. Admiral Markets – Brokerage with extended hours and low forex spreads; over 8000 instruments available

admirals markets forex trading platform logo

Admiral Markets is a trading platform brokerage that offers its users access to over 8000 financial investment assets. Founded in 2001 it classifies itself as an investment ecosystem. The trading platform offers a range of financial investment instruments from CFDS for forex, stocks, indices, bonds, commodities and ETFs.

Customers are able to trade on-the-go using the proprietary Admirals mobile trading application, which is available for both Android and iOS. Alternatively for both PC and Mac, users can fully immerse themselves in an advanced trading experience with MetaTrader, a renowned tool for investors worldwide. Uniquely, Admiral Markets offers its client base access to MetaTrader Supreme Edition which is pre-loaded with state-of-the-art trading tools and technical analysis indicators.

Admiral Markets forex and cfd trading

For new customers, Admiral Markets offers various account types that offer different asset classes and have varied minimum deposit amounts. Users should evaluate which best suits them as there is a variety to choose from. When it comes to forex trading, Admiral Markets provides access to over 80 different CFDs on currency pairs available 24 hours a day, 5 days a week.

The trading platform offers low spreads on currency pairs, typically 0.6 pips for EUR/USD. The platform also offers an Islamic Forex Account, which allows users to trade without having interest fees credited or debited, however, this option is only available on the Trade.MT5 account type.

When trading with leverage, Admiral Markets offers up to 1:30 for retail clients. This broker also offers extended trading hours meaning that users are able to settle trades 24 hours a day, however, spreads may differ than main trading hours. There is also a wide range of educational materials available on the platform from articles, training programs, video tutorials and webinars.

For new users or clients who simply want to test out market strategies, Admiral Markets offers a demo account which is free to use. This allows traders to test out strategies, experiment with the various plug-ins and indicators, and optimise their preferred set-up for the trading interface. The demo account is risk-free and Admiral provides users with virtual money to trial trading under real-time market conditions.

74% 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.

6. Pepperstone – Award winning best MetaTrader 4 broker; trade 1200+ instruments; 60+ currency pairs

pepperstone best forex platform uk

Pepperstone was founded in 2010 by experienced traders and has grown to become one of the most popular MetaTrader brokerage platforms in the world. The company is regulated by a number of financial authorities globally and only holds user funds in tier 1 segregated banks.

The award winning broker offers clients access to over 1200 instruments from forex, commodities indices, commodities, shares and ETFs. Users can either trade CFD instruments, or participate in spread betting which is tax-free for their UK client base.

Pepperstone does not have a proprietary trading platform, however, has a range of trading interfaces for clients to use. The trading platforms are MetaTrader 4 and 5, cTrader and, which facilitates automated trading. It is worth noting that Pepperstone was voted the best MetaTrader 4 broker in the Good Money Guide Awards 2023. For clients who opt-in for the Razor account, Pepperstone integrates with TradingView allowing users to use the fully loaded features, and trade assets directly from the TradingView charts.

best forex trading platform in the uk

The platform offers highly competitive conditions with forex trading. This brokerage offers access to 60+ currency pairs and markets are open 2 minutes short of 24 hours. Pepperstone sources liquidity from multiple tier 1 banks which helps them to offer comparatively low spreads.

Through the high levels of liquidity users experience immediate fulfilment of trades, with no requotes or partial executions. Clients using the razor account benefit from 0.0 pip spreads on 14 pairs, while standard account have spreads of between 1.1 – 1.5 on major currency pairs. For forex traders looking for non-mainstream pairs, Pepperstone offers exotics from Chinese Yuan, Danish Krone, Hungarian Forint, Polish Zloty, Singapore Dollar, and Turkish Lira among others.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.7% 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.

7. Plus500 – London Stock Exchange listed brokerage platform; trade more than 2800 instruments; leverage up to 1:30

Plus500 founded in 2011, is a FTSE250 company that became publicly listed on the London Stock Exchange. It is a multi asset trading platform offering CFDs for stocks, commodities, indices, forex, cryptocurrencies, options and ETFs. This brokerage boasts over 2800 financial instruments available to traders and has seen over $800 billion in trading value since inception.

Plus500 offers three different account types to clients, Invest (for stocks), CFD (leverage trading) and Futures (U.S. future markets). For customers based in the UK only the CFD option is available, however, this will give traders access to most of the instrument types the platform offers. This brokerage offers low costs, no commissions on trades and tight spreads, typically 0.7 – 2 pips on stocks and a 0.7% mark up on forex currency that is different to the primary currency of a user’s account.

plus500 forex trading broker

The platform provides forex traders with access to over 60 pairs and permits leverage of 1:30. There are also educational resources on forex available on their trading academy page. Plus500 helps traders keep up to date on news and global events with their economic calendar, and also bolsters risk management tools to manage trading activity. This allows users to manage different type of close outs for positions, all while having sound knowledge of upcoming global events which can affect trading positions.

uk forex trading platform

Uniquely, Plus500 offers a +Insights feature where users can monitor, track and duplicated other traders’ activity on the platform. Within the interface users can also duplicate positions that they deem attractive, which can be seen similar to copy trading. Plus500 allows users to access all features through their browser-based web trader, or alternatively from the Plus500 app available on iOS and Android mobiles.

81% of retail investor accounts lose money when trading CFDs with this provider.

8. Alvexo – Online forex broker with over 450 available assets; real-time market data; trade forex CFDs

alvexo forex trading platformThere are more than 650,000 customers in over 20 countries who use Alvexo as a regulated online brokerage offering a whole range of investment opportunities, including CFD on Commodities, Stocks, Indices, and ETFs. “Trading real brokers for real traders,” this is how its website describes its main objectives.

With more than 450 assets, real-time quotes and an intuitive range of trading platforms and applications, Alvexo was founded in 2014 by market veterans. A number of tools are available for market analysis.

uk forex trading platform
The fact that Alvexo offers educational resources, as well as customer service, is known among traders as well. Alvexo offers clients a wide range of economic news, trade courses, webinars, and even seminars, along with the daily market signals available through their platform.

Alvexo fees:

Fee Amount
Stock trading fee Variable Spreads
Forex trading fee Variable spreads. 2.9% for EUR/USD on its Classic account
Inactivity fee $10 per month after three months
Withdrawal fee Free

76.22% 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.

9. Skilling – UK forex trading platform with low fees from just 0.1 pips; over 800+ instruments available

Skilling uk forex brokerSkilling is one of the latest entrants to the UK forex trading scene – with the platform launching in 2019. With this in mind, Skilling still offers competitive trading fees in the online space.

When trading major forex pairs with Skilling, you can engage in buying and selling within a narrow spread of just 0.1 pips. Furthermore, regardless of your chosen forex pair, there are no commissions applied.

This feature proves especially beneficial for those interested in trading smaller amounts, as it ensures potential profits are not eroded by flat-rate commission fees. Novice traders will also find Skilling’s user-friendly web trader platform to be uncomplicated and hassle-free. Additionally, Skilling offers a valuable selection of educational guides and a comprehensive demo account.

skilling forex broker uk

With that said, Skilling is also looking to attract seasoned forex traders. This is evident in the fact it offers full support not only for MT4 trading platforms, but cTrader, too. Skilling also offers a huge 1:500 leverage on its foreign exchange markets. You will, however, need to prove that you are a professional client to get this much.

If not, you’ll be capped to the usual 1:30 limit – as per UK regulations. While we are on the subject of regulation, Skilling is authorized by the FCA. It is also regulated by CySEC and the FCA. Opening an account with Skilling takes minutes and the minimum deposit is just £100. You fund your account with a debit card, e-wallet, or by transferring funds from your UK bank account.

Your capital is at risk when trading CFDs with this provider.

10. FXCM – Forex trading app with a free demo account; supports copy trading via ZuluTrade; compatible with MT4

best forex trading platform ukFXCM is a forex trading platform that was first launched in 1999. Authorized and regulated by the FCA, this forex provider is suitable for those seeking a reliable and low-cost way of accessing the currency scene.

That being noted, FXCM enjoys popularity not only among experienced traders but also among newcomers, thanks to its low initial deposit requirement of just $50. Furthermore, FXCM offers a risk-free environment for honing your forex trading skills through their demo account. When you feel prepared to transition to live trading, you have the convenience of making instant deposits using a debit card.

forex trading platform uk

When it comes to supported markets, FXCM provides access to dozens of tradable forex pairs. This covers a good variety of majors, minors, and exotics. Users can also trade shares, commodities, and indices – all in the shape of CFD instruments. FXCM offers leverage on all of its supported markets.

Although retail clients are capped to 1:30, professional traders can get up to 1:400. When we explored the FXCM fee structure for our review, we found this UK forex broker does not charge any commissions. Spreads are also competitive, especially on major pairs. FXCM allows you to trade forex via its website or mobile app – which is available on Android and iOS.

There is no guarantee you will make money with this provider.

11. – market-leading FX broker; spreads from 0.2 pips; access major and exotic currency pairs

best uk forex trading platform

Launched way back in 2001, Forex is a long-established trading platform. The platform is geared towards experienced FX traders who have access to over 80 forex pairs.

This covers a lot of bases in the currency trading scene – both in terms of majors/minors and exotics. When it comes to fees, offers three account plans. If you’re on the Standard Account, you’ll benefit from zero commission trades and spreads from 1 pip. uk forex trading platform

However, seasoned pros trading larger volume, may want to consider either the Commission or STP Pro Accounts. The former gives you access to spreads of just 0.2 pips on EUR/USD.  In turn, you’ll pay a commission of $5 per £100,000 traded.

Alternatively, the STP Pro account offers spreads of 0.1 pips on many pairs and commission starts at just $60 per $1 million traded. Irrespective of which account plan you sign up for, is compatible with MT4. The platform also supports MT4 VPS hosting, which illustrates that it is a great option for automated forex EAs and high-frequency traders. uk forex broker

In terms of getting started, requires a minimum deposit of £100 when using a debit card or PayPal. If opting for a bank wire, there is no minimum deposit. Finally, is authorized by the FCA in the UK, and many other bodies around the world.

There is no guarantee you will make money with this provider.

Forex Trading Platform UK Fees Comparison

We’ll review how the UK’s forex brokers compare in terms of pricing so you can decide on the cheapest trading platform with the lowest fees. As many brokers have dynamic spreads, we’ve taken the spread for GBP/USD at the time of writing to give you an idea of how pricey each broker is.

Trading Platform Fees Spread or commission? GBP/USD Inactivity fee Overnight fees
AvaTrade Spread 1.5 pips £50 after 3 months Yes
eToro  Spread 2 pips £10 per year after 12 months Yes
Skilling Spread 1.3 pips No inactivity fee Yes
Plus500 Spread Variable £10 per month after three months Yes
FXCM Spread 1.4 pips £50 per year after one year Yes Spread 2.1 pips £12 per month after 12 months. Yes

Key Features of UK Forex Brokers

We have discussed a wide selection of UK forex trading platforms currently on the market. We’ve purposefully reviewed a range of different providers that cater to different requirements.

For example. while some of these UK forex brokers stand out for offering low spreads and zero commissions, offers are particularly useful for newer traders.

Crucially, in order to find the right forex broker UK, you need to do a bit of research into each platform. Below is an overview of the different features that you will find on each platform.


FCA regulated forex trading platforms UKThe online trading scene in the UK is heavily regulated – especially when it comes to retail clients. At the forefront of this is the FCA – which sets high standards for all of the forex trading platforms that it issues licenses to.

By sticking with a UK forex broker that is FCA-regulated, you can be sure that the provider operates by the book.

For example, the platform will need to keep your funds in segregated bank accounts, verify the identity of all traders, and be transparent about what fees and commissions it charges.

At the other end of the scale, by trading forex online with an unlicensed platform – or one that is regulated offshore, you’re simply asking for trouble.

Tradable Assets

UK forex platforms typically give you access to dozens of currency pairs. Many cover major and minor markets, along with a great selection of exotics. Additionally, you might also be thinking about trading other asset classes.

Instead of having to open an account with a specialist CFD trading platform or stock trading platform, the right forex broker for you in the UK could be one that offers a variety of markets.

etoro forex pairs

For example, eToro not only offers 50+ forex pairs but also thousands of stocks, ETFs, cryptocurrencies, and commodities. This eliminates the need to open multiple trading accounts with multiple providers.


All forex trading platforms in the UK charge fees in return for offering you access to your chosen marketplace.

This includes the following:

  • Commissions: Many of the forex trading platforms that we discussed on this page allow you to trade forex commission-free. However, there are many providers in this space that will charge a variable commission when you enter and exit the market. For example, if the provider charges 0.5% and you stake £200, you’d pay a commission of £1.
  • Spreads: Commission-free forex trading platforms make money from the spread. This is the gap between the buy and sell prices of your chosen forex pairs. UK forex brokers tend to offer spreads of less than 1 pip on major markets.
  • Leverage Fees: Unless you are prepared to trade an entire forex lot, which is usually worth $100,000, you will need to apply leverage. In turn, this comes with overnight financing costs. This means that you will pay a small fee for each day that you keep the forex trade open.
  • Transaction Fees: Don’t forget about transaction fees, as some forex trading platforms in the UK will charge you when you deposit and/or withdraw funds. Also, keep an eye on FX fees when making a deposit, especially if you’re using an international broker.

All of the above fees should be clearly displayed on the forex trading platform’s website. As such, you can assess how competitive the offer is before signing up.

Trading Tools & Features

Different forex trading platforms offer a variety of trading tools and features.

etoro copy trading forex

This includes:

  • Leverage: As noted above, leverage allows you to trade with more than you have in your brokerage account. Forex trading platforms in the UK tend to offer leverage of up to 1:30 on majors and 1:20 on minors/exotics. The only way to get more than this is if you are classed as a professional client.
  • Copy Trading: One of the UK forex trading platforms on our list – eToro, offers a Copy Trader feature. This allows you to trade forex online without needing to do any of the legwork. Instead, your chosen trader will buy and sell forex pairs on your behalf – offering a passive investment experience.
  • Order Types: You’ll want to choose a forex trading platform that offers a variety of order types. This will give you more flexibility in entering and exiting the market. At a minimum, this should include limit, stop-loss, and take-profit orders.
  • Education: Many UK forex brokers cater to inexperienced traders. This means that they offer an assortment of trading guides, videos, and even webinars.
  • Technical Analysis: If you’re a seasoned forex trading pro then stick with trading platforms that offer lots of technical indicators and charting tools.
  • MT4: If you want to install an automated forex EA or simply want access to market-leading research tools, it might be worth choosing a platform that is compatible with MT4.


Trading forex online and making consistent profits is never guaranteed. As such, choose a forex trading platform that offers simple functionality.

In our search for forex brokers that UK traders are accepted at, we came across a number of providers that offered a clunky experience. Not only were these providers difficult to navigate, but there was often a lag in order execution time.

etoro leverage

We found that eToro had minimal lag on its primary online trading platform as well as its Android/iOS app.

Demo Account

Leading on from the section above on usability, the only way to assess this effectively is to use the platform’s demo account facility. This is something offered by all of the UK forex trading platforms that we reviewed.

For example, eToro allows you to trade with ‘paper funds’ without needing to make a deposit. The important thing is that the eToro demo facility mirrors its main trading account like-for-like.

This allows you to get comfortable with placing forex orders and deploying risk-management strategies. It’s also useful for testing the waters in terms of leverage.


Once you have used the provider’s demo account facility, you’ll be required to make a deposit before you can start trading with real money.

Many UK forex brokers accept bank cards. This will allow you to quickly make a deposit, as the funds should be credited instantly. Alternatively, some forex trading platforms, such as eToro, also support e-wallets.

Also, be sure to check what the minimum deposit is on your chosen payment method, what fees apply, and how long the provider takes to process withdrawal requests.

Customer Service

Many forex trading platforms in the UK offer live chat around the clock. This ensures that you can get instant support on your question or concern without needing to pick up the telephone.

With that said, we also came across providers that only offer support via email. This means that you’ll need to wait for several hours before getting a response (or days in some instances), which isn’t ideal.

Our reviewing process: How we tried and tested UK forex brokers

To provide readers with an informative overview of UK forex trading platforms, our team of expert writers spent time testing and reviewing a number of different platforms that are available in the UK. We used first-hand experience as well as user testimonials and websites to gather as much information as possible about each broker. We then established 11 suitable forex trading platforms for UK brokers, using the following criteria as guidance:

  • Asset availability: We looked for platforms that support multiple FX currency pairs, including exotic pairs, to facilitate a diverse trading strategy. Some UK forex brokers also support other financial markets, including stocks and cryptos, which is ideal for traders who want to trade multiple markets on one platform.
  • Charting tools: Forex trading requires advanced technical analysis To support this, trading platforms must offer a selection of charting tools and platforms. This could include MT4, MT5, TradingView, and others.
  • Tight spreads: The spread is the difference between the buy and ask price when trading an FX pair. The tighter the spread, the more likely it will be to make a profit. Large spreads can catch traders out by keeping them at a loss, even when the trade has moved in their favor. We looked for platforms that offer tight spreads as well as low trading fees.
  • Signals and APIs: The forex market is volatile, which can make manual analysis tricky. Signals and APIs pose a solution to this by using algorithms and AI technology to analyze the market on behalf of traders. Integrating signals into a forex trading strategy is one way to justify trading decisions.
  • Low minimum trade requirements: Many forex traders wish to trade with smaller funds. This enables traders to place multiple trades per day. Platforms that require a large minimum trade may not be suitable for all forex trading strategies.
  • Demo trading account: A demo trading account is a type of virtual trading account through which traders can practice trading without putting any real money at risk. Platforms that provide demo accounts allow new users to familiarize themselves with the features and tools before trading the live markets.
  • Regulation: In general, it is wise to use forex brokers that are regulated by the FCA in the UK. Regulated brokers must follow strict security processes that are put in place to keep users safe.

How do Forex CFDs work?

The fundamentals of forex trading are that you exchange a specific amount of one fiat currency against another. For example, if you were to buy EUR/USD, you would make positive returns if the euro appreciated against the US dollar. On the other hand, you would suffer losses if the exchange rate dropped.

Forex CFD trading allows you to speculate on the market movements of the underlying asset while also using leverage to maximize your purchase power. Instead of settling a set amount of base currency, contracts for differences are settled in cash. This means they’re based on the opening and closing prices of an FX pair.

One of the main features of CFD trading is that when you use leverage, you can amplify your position’s size while depositing a relatively small initial margin. It’s also worth noting that while leverage increases your exposure to the forex market, it also maximizes potential losses.

Different Types of Forex Brokers

Forex brokers come in all shapes and sizes. They vary depending on what their FX quotations are based on. There are four main categories to choose from:

  • No Dealing Desk
  • Market Maker or Dealing Desk Broker
  • Electronic Communications Network (ECN)
  • STP (Straight Through Processing)

Each of these forex brokers has a different way of managing transactions and executing orders. Details about the four key types of forex brokers and their features follow:

No Dealing Desk Forex Brokers

The No Dealing Desk (NDD) forex broker does not have a dealing desk, as the name suggests. Nonetheless, it offers diverse composite forex quotes sourced from various forex quote providers. These third-party companies give the No Dealing Desk broker its liquidity within the FX market.

A majority of forex quote providers post their main markets with the No Dealing Desk forex platform. The NDD broker will execute trades according to those forex quotes. No Dealing Desk forex brokers typically charge a commission or they broaden the market spread as a way to earn a profit for the service they provide.

Market Makers 

A forex market maker offers a two-sided market created by an in-house expert forex trader who acts as part of the broker’s dealing desk. Market makers or Dealing Desk forex brokers typically execute trades without trading in the underlying market. Market makers offer a forex quote based on the underlying market prices and then take the other side of the transaction by buying on their bid side or selling on their offer side.

Electronic Communications Network (ECN)

Forex trading platforms that operate on an Electronic Communications Network, or ECN, usually do not have their own dealing desk. As a result, the ECN broker offers an electronic trading platform where advanced traders and expert market makers at commercial banks can enter bids and offers.

A key benefit of using an ECN is that the trader posting the price can maintain a level of anonymity. This is ideal for investors who want to keep their trading strategies private.

STP (Straight Through Processing)

Straight-through processing brokers typically refer to the way forex trades are processed. STP brokers execute orders directly through a broker’s servers and onto liquidity providers without the need for any dealing desk intervention. Liquidity providers can be hedge funds, corporate banks, and investors. Typically, the STP forex broker has an in-house liquidity pool, and liquidity providers compete in terms of their buy/sell spreads for STP orders.

In other words, STP means that the forex broker acts as a seamless link between the trader and the underlying market, as opposed to a dealing desk that re-processes orders.

Type of Forex Broker Key Features
No Dealing Desk Does not have a dealing desk and offers diverse composite forex quotes sourced from various forex quote providers. Many forex quote providers post their main markets on the No Dealing Desk forex platform. The NDD broker will execute trades according to those forex quotes. No Dealing Desk brokers often charge a commission.
Market Makers Offers a two-sided market. Typically, traders execute trades without trading in the underlying market. Market Makers offer a forex quote based on the underlying market prices and then take the other side of the transaction by buying on their bid side or selling on their offer side.
ECN Usually do not have a dealing desk. ECN brokers offer a platform for expert traders and market makers at banks to enter bids and offers. Offer high levels of anonymity.
STP Without the need for a dealing desk, STP brokers execute orders directly through a broker’s servers and onto liquidity providers. STP forex brokers have an in-house liquidity pool, and liquidity providers compete for competitive buy/sell spreads for STP orders.

Which Forex Broker has a Range of Currency Pairs?

For day traders and other short-term forex trading strategies, you might want to research the range of supported currency pairs. This is because day trading, scalping, and spread betting, all try to capitalize on short-term price movements within a single trading day.

With this in mind, let’s take a closer look at just how many forex pairs forex trading platforms in the UK offer.

Forex Broker Currency Pairs
AvaTrade 59+ currency pairs
eToro 49 currency pairs
Libertex 45+ currency pairs
Skilling 106 currency pairs
Plus500 70+ FX pairs
FXCM 40+ FX pairs 91+ currency pairs

Forex Brokers for New Traders

If you’re just stepping into the world of online investing, forex trading can be quite a challenge at first. With so much to learn and so many variables that have a direct impact on trading outcomes, you need to pick the right forex broker that’ll assist you every step of the way in terms of customer support.

After reviewing several forex trading platforms in the UK, we found that eToro is suitable for less-experienced traders. For a platform review covering fees and commissions, tradable assets, and payment methods, read our full eToro review.

eToro facilitates commission-free forex trading. This means that when you trade currency pairs, you’ll only have to pay the low spread, starting with just one pip. This is also a swap free forex broker. Opening an account is free, and there are no markups, ticketing fees, or stamp duty tax.

Approaching the forex markets without any knowledge of the space is like trying to navigate a ship through a storm without a helm. Traders will therefore appreciate the free demo account and copy trading tools that eToro provides. Practice your trading strategies and broaden your knowledge of online investing with the eToro demo account. These practice accounts, or paper trading accounts, allow you to trade in a simulated, risk-free environment that mimics real market conditions. The eToro demo account comes with $100,000 worth of virtual funds.

Furthermore, eToro also offers several copy trading tools:

  • CopyTrader – this allows you to copy the trading strategies of other expert traders on the social trading platform. You can browse through the profiles of eToro traders, checking their past performances, risk ratings, average holding times, and more. The minimum amount you can invest is $200, and the total number of traders you can copy at one time is capped at 100.
  • CopyPortfolio – this is a CFD portfolio that allows you to invest in either a specific asset class or a basket of eToro investors. Investing in a theme means that you’ll be investing in a basket of diversified currency pairs. The minimum investment amount to use CopyPortfolio is $5,000.

74% 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.

Forex Brokers for Professionals

Experienced forex traders are less reliant on automated trading features and demo accounts. For an advanced investor, technical indicators and fully customizable charts are more valuable than a copy trading tool, but which forex broker offers the right tools and features for advanced users?

This is where MetaTrader 4 comes in. MT4 has been operating since 2005 and is among the industry-leading forex trading platforms in the UK. As well as forex, MetaTrader 4 can be used to participate in other markets, such as commodities and indices, through CFDs and spread betting.


MT4 is widely accepted for two main reasons. Firstly, it’s highly customizable to your trading goals and preferences. Secondly, it offers automated trading via algorithms to close and open positions based on pre-set criteria.

MetaTrader 4 features:

  • Fully customizable and flexible trading platform
  • Access trading signals from trusted third-party providers
  • Expert advisors for algorithmic trading
  • Global accessibility via PC, web, android, iOS

A forex broker for professionals is AvaTrade. This CFD and forex broker was launched in 2006 and is heavily regulated by financial authorities, including ASIC and the Central Bank of Ireland.

To gain access to the MT4 trading platform, simply open a live trading account with AvaTrade and choose MetaTrader 4 as your preferred trading platform. The minimum deposit is £100 to gain exposure to the markets. Then download MT4 and log in using your AvaTrade credentials.

MT4 has several features that allow you to conduct advanced price analyses on all supported instruments. These include a range of timeframes, interactive charts, and built-in technical indicators. The AvaTrade MT4 platform allows you to pinpoint the optimal prices to enter and exit your positions.

AvaTrade does not charge trading commissions, meaning the only trading fees you will encounter are the bid-ask spreads, and the overnight financing fee if you keep positions open after standard market hours transpire. For a more detailed look at the ins and outs of AvaTrade see our dedicated AvaTrade review.

71% of retail investor accounts lose money when trading CFDs with this provider.

Forex Trading Useful Terminology

When searching for the best forex platform to use, it may be helpful to better understand some of the terminology that you may come across.

Trading account: This is the account that you will use to place trades. Forex trading accounts are typically managed by brokers. The accounts can only be accessed by the traders who created them or anyone of has the account login details.

Currency pairs: A currency pair is a type of asset that you trade in the forex market. The pair represents a price quote for two currencies- a base currency and a quote currency. When you place an order for a currency pair, the base currency is bought and the second currency is sold.

Leverage: Leverage is borrowed money that can be used to increase the size of a position on a trade. Leverage is shown as two numbers separated by a colon and represents the amount of money that you can borrow for every amount that you trade. For example, 1:100 means that you can borrow $100 for every $100 traded.

Pips: A pip is a unit of measurement between price points that is used to describe how much the price of a currency pair moves during a trade. The value of each pip depends on the size of your trade. For a trade position of 10,000 units, 1 pip would equal $1. So you would make or lose $1 for every 1 pip of price movement.

Spreads: A spread is the difference between the sell rate and buy rate of a currency pair. Narrow spreads are desirable as it is easier to profit from these pairs.

How to Get Started with a Forex Trading Platform

The steps below cover how to create a forex broker account:

Step 1: Open an Account and Upload ID

Visit a regulated UK forex broker and open an account. This will require you to enter some personal details, such as your name and email address.

Create Account Avatrade

You will also be asked to upload a copy of your

  • Valid passport or driver’s license
  • Utility bill or bank account statement (issued within the last 3 months)

Once you upload the above documents, you’ll be able to make a withdrawal at any given time. Your deposit limits will also be removed.

Step 2: Deposit Funds

Add funds to your account, via:

  • Debit card
  • E-wallet (Paypal, Skrill, or Neteller)
  • Bank transfer

Deposit Funds Avatrade

Step 3: Search for Forex Trading Pair

You can now search for the forex pair that you wish to trade. The way to do this is to enter the specific pair into the search box at the top of the page. Then, you need to click on the ‘Trade’ button.

Step 4: Place a Trade

You now need to select from a buy or sell order. Select the former if you think the exchange rate will increase and the latter if you think the opposite. Enter your stake into the ‘Amount’ box and select your desired leverage ratio, if applicable. Finally, click on the ‘Open Trade’ button to complete your commission-free forex trade.

UK Forex Brokers – Conclusion

According to the source, the UK is the largest forex trading center in the world, accounting for 43.1% of the global market share. With so many forex trading platforms in the UK to choose from, it can be challenging to know which one to go with. For precisely this reason, our experts created this guide on Forex Trading Platforms.

We analyzed the most important aspects of trading platforms, choosing the best options for our readers. The main thing is that your chosen provider is one regulated by the FCA, supports your chosen pairs, and offers low fees and tight spreads. It takes just 10 minutes to open an account at one of the various forex brokers in the UK that we reviewed.

Your money is at risk.


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Kane Pepi Finance Writer

Kane Pepi Finance Writer

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buyshares n and the Malta Association of Compliance Officers.

Before starting his career as a writer, Kane studied at the University of Central Lancashire where he received a Masters Degree in Financial Investigation and then a Research Doctorate in Criminal Justice. Pepi is passionate about helping people to make informed decisions through high-quality, educational content.