List of registered forex brokers in uk

What is more, FXCM is an award winning brokers, which offers a choice between several trading platforms – the industry standard metatrader4, and two proprietary platforms - ninjatrader and trading station – a highly customizable platform, with intuitive design and the option to place and manage trades directly from the charts.

My list of forex bonuses

UK forex brokers, list of registered forex brokers in uk.

That is the reason why metatrader4 is still more popular of the two platforms, and also why some brokers like hotforex offer metatrader4 instead of metatrader5 – the huge quantity of expert advisors developed especially for metatrader4.

UK forex brokers

broker	country	regulation	platforms	min.Deposit	review
	cyprus, UK, mauritius	cysec, FCA, FSC, FSCA	MT4, MT5, web	$10	review website
	UK, australia, south africa	FCA, ASIC, FSCA, cysec	MT4, trading station, ninjatrader	$50	review website
	UK, cyprus, UAE, south africa	FCA, cysec, DFSA, FSB	MT4, MT5, fxpro markets, ctrader	$100	review website
	cyprus, UK, south africa, UAE	cysec, FCA, FSCA, DFSA	MT4, MT5, web	$5	review website

UK is a global financial hub and is home to some of the top brokers in the forex industry. To mention just a few FXTM, FXCM, fxpro, hotforex, tickmill and trading.Com have all offices there and are regulated by the local financial conduct authority (FCA), which supervises over 59 000 financial services firms, ensuring that consumers get a fair deal while trading the financial markets.

Is forex trading legal in the UK?

Trading in the UK is perfectly legal and as we already noted the market is pretty well regulated.

The financial conduct authority, established back in 2013 as a successor the financial services authority, is an independent public body funded entirely by the fees paid by the supervised firms, and accountable to the UK treasury and the parliament.

€730 000 minimum capital requirement

Тhe requirements set by the authority are comprehensive and are even tougher compared to many other jurisdictions. For example UK forex brokers have to maintain net tangible assets of no less than 730 000 EUR, with which to ensure all outstanding payments towards clients.

£85 000 guaranteed by FSCS

All clients’ funds should be kept in a segregated, protected from creditors, trust account and to be covered by the financial services compensation scheme, which basically insures the first 85 000 GBP in your trading account, so that even if your brokers happens to be insolvent you will still be paid back.

For example, the FSCS paid a total of £527 million in compensation to 258,119 clients of firms who went bankrupt during 2019/20 fiscal year. The statutory lifeboat fund is trying, where possible, to recover the funds directly from the failed companies in order to reduce the burden on the industry.

Negative balance protection

On top of that clients of UK regulated brokers get a negative balance protection, meaning that they can not lose more money than they have deposited.

Also, the requirements of the markets in financial instruments directive (mifid) of the european union, apply to all UK brokers and will remain in place even after the UK finally leaves the EU.

UK forex brokers	EU forex brokers
client funds segregation	✓	✓
compensation scheme	up to £85 000	up to €20 000
leverage restriction	up to 1:30	up to 1:30
minimum capital requirement	€730 000	€730 000
client orders reporting	✓	✓
negative balance protection	✓	✓
bonuses	banned	banned

Globally, the FCA has also been highly influential in setting standards, through the european securities and markets authority (ESMA), and through its chairing and co-chairing of the international organisation of securities commissions (IOSCO) and financial stability board (FSB) committees.

Which are the best forex brokers in the UK?

As we noted, UK is home to some of the top brands in the forex industry. Those are state of the art brokers, offering exceptional trading conditions and top notch trading platforms. Here are some details about the most popular UK brokers.

Owned by forextime UK limited, FXTM is regulated by the financial conduct authority and offers UK traders tight spreads, fast execution and cash rebates, with a comprehensive selection of forex pairs, crypto currencies, indices, oil, gold and stocks, professional trading platforms like the metatrader4 and the metatarder5 and a choice between a standard, ECN and a cent account, where the minimum deposit is just 10 USD, and which is particularly beneficial to traders who use capital demanding strategies like martingale or grid trading.

FXTM accepts credit cards like VISA and mastercard, and some popular e-wallets like skrill, neteller, perfect money and webmoney. For retail clients in the UK leverage is capped at 1:30, as is the requirement in the broader EU as well. If you are a professional traders, however, and you can prove it, FXTM will offer you leverage as high as 1:1000.

On top of that, to its UK clients FXTM offers a loyalty program, where the trading cost of each trade is reduced in accordance to the account balance and the size of the trade.

With over 20 years of experience FXCM is one of the most popular brands in the UK. It has an office in london and offers traders lots of stocks, forex pairs, crypto currencies, indices, oil and gold with zero commissions and tight spreads.

Ninjatrader on the other hand is specialized in custom system development through a specially designed strategy builder and a proprietary ninjascript programming language.

Take a note as well that FXCM accepts payments with all popular credit and debit cards, as well as skrill, neteller and china union pay. For professional traders FXCM offers leverage as high as 1:400, while for retail traders the leverage levels are caped at 1:30 to limit the associated risks.

Fxpro is yet another top broker with an office in london and over 70 international and UK awards. Apart from their FCA license fxpro is also regulated in cyprus, south africa and UAE.

Fxpro are proud of their ultrafast execution – 99,9% of all trades are said to take place within 50 ms and their no dealing deck trading environment.

Payment methods include VISA, mastercard, paypal, neteller, skrill and china union pay, and while there is no specified minimum deposit requirement, fxpro advices their clients to deposit at least 500 USD to ensure better flexibility of their trading strategies.

And fxpro offers three professional trading platforms - metatrader4, metatrader5 and ctrader, which is especially suited for NDD environment as offered by fxpro. Professional traders at fxpro can enjoy leverage as high as 1:500, while retail traders will have to do with 1:30.

Trading.Com is a brand of trading point group, especially tailored for the UK market. (trading point group also operates XM - one of the leading brokers in the forex industry.)

With their ultra-low account, trading.Com grants you easy access to over 1250 markets, including precious metals, energy and agricultural commodities, stocks, indices and over 60 forex pairs, all in one place. The trading conditions are rather attractive, with spreads starting as low as 0,6 pips and no trading commission applied. Leverage is capped at 1:30 in accordance with the regulatory policy of the financial conduct authority.

Trading.Com will let you start trading with as little as 5 USD and you can open your trading account in a number of currencies - EUR, USD, GBP, CHF,‎ AUD, PLN and HUF.

Your payment options are credit cards like VISA and mastercard, neteller, skrill and bank wire transfer. The broker offers metatrader5, equipped with over 80 analytical tools and available both as a web trader and as an app for PC, iphone and android.

Hotforex is another award winning forex broker with a presence in the UK. Their london office was opened in january 2019, when they acquired their FCA license. Apart from that hotforex is authorized to operate across the european union, south africa and UAE.

Hotforex offers four account types with attractive spreads, access to over 150 trading instruments and the metatrader4, available for PC, ipad, iphone, android, a web terminal and a multi terminal, which allows traders to manage multiple accounts simultaneously.

The minimum deposit requirement is 100 USD and the payment methods include VISA, mastercard, sofort, ideal, neteller and skrill.

And hotforex also offers weekly webinars in english, covering a wide range of strategies, which can greatly enhance your trading skills.

As with other UK brokers leverage is capped at 1:30, except for professional traders, who can enjoy higher leverage.

Tickmill is an award winning UK broker, based in london and regulated by the financial conduct authority. They offer exceptional trading conditions with three account types and leverage as high as 1:500 available for professional traders – as a matter of fact this year they have been awarded in the best trading experience category of the annual forex brokers awards.

Their spreads look rather attractive, starting as low as 0,6 pips, if we add up the minimal trading commission of 4 USD per lot. And their selection of forex pairs is also comprehensive – well over 60, complementing the numerous cfds on indices, precious metals and bonds, available on a metatrader4 platform.

The minimum deposit at tickmill is just 100 USD and you have the option to pay with VISA, mastercard, bank wire, skrill, neteller, dotpay, paysafe card, SOFORT and rapido.

How much do I need to start trading forex in UK?

Most UK brokers will ask for an initial deposit of about 250 USD, but as we already discussed many of the big players like FXTM, trading 212, trading.Com and fxpro will allow you to start trading with virtually a few pounds.

And some UK brokers will allow you to trade with micro lots – 1000 base currency units – an option, which is rather convenient if your deposit is relatively small. Others, like FXTM are offering cent accounts, where all deposits, profit and loss are measured in cents, instead of dollars, which works pretty well if you are using the grid trading or the martingale strategy, where traders double the trading amount after each loss.

What are the most popular payment methods in the UK?

One of the most popular payment methods in the UK is paypal and a number of UK brokers like trading 212 and fxpro do work with it. Other e-wallets like neteller and skrill, which are particularly popular in europe, are also offered by many brokers, as are credit cards like VISA, mastercard and american express.

And some brokers might even suggest that you pay with bitcoins or other digital currencies. Our advice however, is to stick with more conventional payment methods like credit cards, paypal and skrill, because that way you have the option to reverse the payment if you realize you are dealing with scammers. Crypto currency payments on the other hand are irreversible and are more or less anonymous.

Certainly you can use a bank wire transfer as well, which usually takes up to 3 working days if it is an international transfer and between 2 and 4 hours if it is domestic for the UK. All other payment methods are instant.

We should note as well that all brokers in the UK offer accounts in british pounds.

What leverage is available in the UK?

Back in 2018 the european securities and markets authority (ESMA) capped the maximum leverage allowed for retail traders to 1:30 and so did the financial conduct authority in the UK. The move was a coordinated attempt to minimize the risks for the trading community. Remember, the higher the leverage the higher the risk for your funds when the market happens to be volatile.

Similar steps are made by the regulatory authorities in the canada, japan and the U.S., where the leverage cap is set at 1:50.

Which are the best forex trading platforms in the UK?

Benchmark platforms like metatrader4 and metatrader5 are offered by most brokers in the UK like FXTM and fxpro, but others like FXCM offer proprietary trading solutions as well.

Metatrader5 and metatrader4

Developed by metaquotes, metatrader5 is a state of the art trading platform equipped with a built- in editor and compiler, which allows trader to easily modify their market indicators and trading robots to better fit their automated trading sessions. On top of that, traders have a free access to a software library contributed by other users, which graetly increases your options for custimisation.

The same features are available with metatrader4, but there is a difference – on a MT4 all market indicators and trading robots, also known as expert advisors, are developed on a proprietary scripting languages called MQL4, while for the metatrader5 all the software is written on MQL5, which makes the MT4 trading bots incompatible with metatrader5.

And while both the platforms come with an excellent set of advanced charting tools, metatrader5 is the more powerful of the two, as it allows the execution of orders in a number of different financial markets and stock exchanges through a single trading account.

Ctrader is another great platform, which is offered by some brokers like fxpro, as it is especially suitable for a no dealing desk (NDD) trading environment. Similarly to metatrader5 and metatrade4, ctrader has its own market indicators and trading robots called cbots, which will also enable you run algorithmic trading sessions. Another ctrader perk is that the take- profit and stop- loss options can be adjusted directly on your chart using drag and drop boxes.

Here you can find a list of more brokers, based in the UK.

Crypto CFD trading in UK

In its latest move to curb potential loses for retail investors in october 2020 FCA banned the sale of crypto currency derivatives, arguing that they are ill-suited for retail traders and have no value when it comes to ordinary investors.

According to the estimates of the institution, after the ban comes into force on 6th of january 2021, it will prevent some 53 million pounds in losses for retail investors annually.

FCA introduced leverage limits for all cfds on crypto assets back in 2018 and proposed a full ban on crypto derivatives back in july 2019. The current ban, however will not apply to trading crypto currencies like bitcoin and ethereum themselves, because they are not regulated by the FCA.

Over £78 million lost to clone firm scams in 2020, FCA warns

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UK’s FCA warns crypto investors to prepare to lose everything

The financial conduct authority (FCA) in the UK said in a stark warning to crypt investors that they should be prepared to lose all of their money. Read more

FCA UK crypto CFD ban now in effect

Cryptocurrency derivatives – crypto cfds for example - are now not accessible to retail traders on the UK markets, as a ban introduced by the country’s financial conduct authority (FCA) in october 2020 went into effect yesterday, on the 6th of january. Read more

FCA allows crypto companies pending approval extension of grace period

The UK, which recently banned the provision of cryptocurrency cfds to retail clients, has allowed crypto-dealing companies that have submitted documentation for the acquisition of a license and are pending approval to continue providing their services well into next year – up to the 9th . Read more

UK treasury department sets plan for financial services’ future

On monday the UK’s treasury department announced that they are “starting a new chapter in the history of financial services”, as well as reestablishing the leading role of UK markets. Read more

All UK forex brokers

broker	country	regulation	platforms	min.Deposit	review
	cyprus, UK, mauritius	cysec, FCA, FSC, FSCA	MT4, MT5, web	$10	review website
	UK, australia, south africa	FCA, ASIC, FSCA, cysec	MT4, trading station, ninjatrader	$50	review website
	UK, cyprus, UAE, south africa	FCA, cysec, DFSA, FSB	MT4, MT5, fxpro markets, ctrader	$100	review website
	cyprus, UK, south africa, UAE	cysec, FCA, FSCA, DFSA	MT4, MT5, web	$5	review website
	UK	FCA	MT5	$5	review
	US, UK, canada, australia, japan, singapore	CFTC/NFA, FCA, ASIC	MT4, web, fxtrade	$1	review
	UK, cyprus	FCA, cysec	MT4	-	review
	UK, australia, singapore	FCA, ASIC, MAS, bafin	MT4, web, prorealtime, 2dealer	$0	review
	UK	FCA	MT4	$0	review
	UK	FCA	MT4	$200	review
	UK	N/A	MT4, web, LMAX mobile	$1000	review
	UK	FCA	MT4	£100	review
	UK, autralia, belarus	FCA, ASIC, NBRB	MT4, web, fortrader	$100	review
	UK	FCA	MT4, MT5, darwinex	$500	review
	UK, australia	FCA, ASIC	MT4, MT5, web, mirror trader	$1	review
	denmark, UK	FSA, FCA, ASIC	web, saxotrader	$10 000	review
	cyprus, UK	cysec, FCA	etoro webtrader, etoro openbook	$200	review
	UK	FCA	MT4, web	$500	review
	UK	FCA	MT4, web, prodigy	$500	review
	UK, cyprus, australia	cysec, FCA, ASIC	MT4, web	$20	review
	UK	FCA, cysec	MT4, ctrader	no	review
	united kingdom	FCA	MT4	$200	review
	UK	FCA	MT4	$250	review
	UK	FCA	MT4, Z.Com trader	$1	review
	UK, singapore, australia	FCA, MAS, ASIC	MT4, AT pro, advantage web	£100	review
	UK, australia	FCA, ASIC	MT4	$250	review
	australia, UK	ASIC, FCA	MT4, MT5, ctrader	$200	review
	UK, cyprus, australia	FCA, cysec, ASIC	web, mobile	$100	review
	UK	FCA	MT4, vertexfx, straticator	$500	review
	UK	FCA	MT4	1000 GBP	review
	UK	FCA	MT4, AT pro,advantage web	£100	review
	UK	FCA	MT4, xstation	$1	review
	cyprus, UK	cysec, FCA	MT4, MT5	$1	review
	UK, SVG, hong kong	FCA	MT4	$100	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4, MT5	$200	review
	US, EU	NFA, FCA	varies	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4	review
	UK	FCA	MT4	not specified	review
	UK	FCA	MT4, web	undisclosed	review
	UK, malta	FCA, MFSA	crescotrader	$1000	review
	UK	FCA	MT4	N/A	review
	UK	FCA	MT4	review
	UK	FCA	MT4	$200	review
	UK	FCA	MT4	$500	review
	UK	FCA	in-house	£50	review
	UK	FCA	in-house	$250	review
	UK	FCA	MT4, web	review
	UK	FCA	MT4	$600	review
	UK	FCA	web-based	review
	UK	FCA	MT4	£1000	review
	UK	FCA	MT4	$500	review
	UK	FCA	MT4, eqltrader	$50	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4, cix trader	$500	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4, web	£100	review
	UK, cyprus, UAE, lebanon	FCA, cysec, CBL, DFSA	MT4, MT5, web	$50	review
	UK	FCA	MT4	$5000	review
	UK	FCA	MT4	$50	review
	UK	FCA	MT4, web	$1	review
	UK	FCA	MT4, MT5	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4, atom8 trader	£5000	review
	UK	FCA	MT4	$500	review
	UK, BVI	FCA, BVI FSC	MT4, alpha/flash trader	$250	review
	UK	FCA	MT4	£200	review
	UK	FCA	MT4, PIPTRADE webtrader	$50	review
	UK	FCA	MT4, web, tradable	$250	review
	UK	FCA	MT4, ETX traderpro	£100	review
	UK,china, hong kong, UAE, australia	FCA, ASIC	MT4, pure ECN pro	$100	review
	UK	FCA	MT4, MT5	$250	review
	UK	FCA	MT4, core trader	$10	review
	UK	FCA	markets trader	$500	review
	UK	FCA	MT4, web, MT4 for mac	$100	review
	UK	FCA	MT4, webtrader, FIX API	$100	review
	UAE, hong kong	central bank of UAE	MT4, orex prime	$100	review
	UK	FCA	MT4	$100	review
	UK	FCA	MT4, dealingscreen, currenex	$500	review
	cyprus, UK	FCA, cysec	MT4	$2000	review
	UK	FCA	MT4, web	$100	review
	UK	FCA	MT4	$200	review
	UK	FCA	web, DF trader	$1	review
	australia, UK	ASIC, FCA, DFSA	MT4	$1	review
	UK, cyprus, australia, estonia	FCA, cysec, ASIC, EFSA	MT4, MT5, web, mobile	$200	review
	UK, cyprus, dubai	FCA, cysec, DFSA	MT4, MT5, web, primetrader	$100	review
	UK	FCA	MT4, vertex	$20 000	review
	UK, the bahamas	FCA	MT4	€150	review
	new zealand	FCA	MT4, direct trading software	$500	review
	UK	FCA	MT4, web	$1	review
	UK	FCA	tradehub	N/A	review
	UK, belize	FCA	MT4	€5 000	review
	UK	yes	MT4	$5000	review
	UK	FCA	MT4, web	$250	review
	UK	FCA (authorised representative)	MT4	not specified	review
	UK	FCA	MT4	$500	review
	UK	none	MT4, web	$5	review

Over £78 million lost to clone firm scams in 2020, FCA warns

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25 best UK forex brokers for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in the united kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the financial conduct authority (FCA), which is the financial regulatory body in the UK. The FCA's website is FCA.Org.Uk. We recommend UK residents also follow the FCA on twitter, @thefca.

The FCA was formed out of the financial services act of 2012, effectively replacing its predecessor, the financial services authority (FSA). For a historical breakdown, here's a link to financial conduct authority webpage on wikipedia.

Best UK forex brokers for 2021

To find the best forex brokers in the UK, we created a list of all FCA authorised brokers, then ranked brokers by their trust score. Here is our list of the top UK forex brokers.

IG - best overall broker 2021, most trusted

Saxo bank - best for research, trusted global brand

CMC markets - best web platform, most currency pairs

Interactive brokers - great for professionals and institutions

City index - excellent all-round offering

XTB - best customer service, great trading platform

FOREX.Com - great all-round offering

Etoro - best copy trading platform

Best forex brokers UK comparison

Compare UK authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts GB residents	authorised or regulated by the FCA	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	N/A
interactive brokers	yes	yes	N/A	$0	94	4.5 stars	visit site
city index	yes	yes	1.100	£50.00	93	4.5 stars	visit site
XTB	yes	yes	0.860	$0.00	92	4.5 stars	visit site
FOREX.Com	yes	yes	1.400	$100.00	93	4.5 stars	visit site
etoro	yes	yes	1.00	$200	91	4 stars	visit site
swissquote	yes	yes	N/A	$1000.00	99	4 stars	N/A
FXCM	yes	yes	1.400	£300	92	4 stars	N/A
avatrade	yes	0.910	$100.00	93	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
plus500	yes	yes	0.600	€100	98	4 stars	N/A
pepperstone	yes	yes	1.160	$200.00	90	4 stars	N/A
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	yes	2.00	$100	84	3.5 stars	visit site
eightcap	yes	$100	69	3.5 stars	N/A
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
hotforex	yes	yes	1.20	$50	83	4 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A

How to verfiy FCA authorisation

To identify if a forex broker is licensed to operate in the united kingdom (UK), the first step is to identify the register number from the disclosure text at the bottom of the broker's UK homepage. For example, here's the key disclosure text from IG's website,

Both IG markets ltd (register number 195355) and IG index ltd (register number 114059) are authorised and regulated by the financial conduct authority."

Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG markets limited.

Summary

To recap, here are the best UK online forex brokers.

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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IG - 76% 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.

OANDA - cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.

Plus500uk ltd is authorised and regulated by the financial conduct authority (FRN 509909).

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FCA regulated forex brokers

The UK as one of the most reputable financial world centers throughout its stability, strong economic and political positions have always been an attractive destination to conduct financial services firm. Along with that, the UK keeps an excellent level of overall regulatory system and financial regulation itself.

This applies through numerous establishment standards diverted towards the firms’ operating in finance or trading industry. In fact, almost all firms or even individuals offering financial services in the UK have to be authorized by the financial conduct authority (FCA).

FCA is among the most respected authorities within the financial world that aims to protect consumers, enhance market integrity and promote healthy competition that ensured by the range of strictest demands and regulatory protocols to the licensed companies.

The authority is highly active in its supervision tasks, constantly getting involved into each licensed broker operation, checking their performance, follow of guidelines and investigates cases.

Apart from the money protection, FCA directs all brokers to protect the clients in case of insolvency under the FSCS (financial services compensation scheme) with a guarantee of up to £50,000 in compensation.

Furthermore, the FCA developed the comprehensive online portal, which brings all necessary information about brokers, presents freshly updated data and findings that support investors’ choice. Overall, FCA regulated forex brokers providing high protection for any investor or trader, as the obligations towards the regulations are strictly accurate and sharp, which is confirmed by highly respected and regarded status of FCA worldwide itself.

Top 10 best UK regulated forex brokers 2021

Top rated:

Regulated forex brokers in the UK can be beneficial for a variety of reasons. Not only have many of the top forex brokers been in the business for a very long time, but the majority are also regulated by the prestigious financial conduct authority (FCA), one of the world’s most reputable regulators.

This instills a great deal of trust and professional experience. In this article, we are going to show you the best forex brokers that are UK regulated.

However, before we start it should be mentioned that not all UK regulated forex brokers deliver the same top-notch service. In fact, some go the extra mile offering unbeatable customer service, access to a wide range of markets, and user-friendly technology.

Don’t just give in to the first forex brokers that are UK regulated, because there are plenty to choose from.

Additionally, it should be mentioned that not all FCA UK regulated forex brokers are based there. A number are based offshore but have plenty of business there and/or want to be recognized by organizations like the FCA.

Is forex trading legal in the UK?

The simple answer to this question is a resounding yes. All forex trading is legal in the UK under the FCA (financial conduct authority) regulations. They are an independent body, established in 2012 to oversee the financial sector and compliance in the UK. They have quickly grown into one of the most reputed regulatory bodies in the world providing the very best protection for you as a forex trader.

How to trade forex in the UK

Trading forex in the UK is in fact not much different from getting started as a forex trader in many other parts of the world.

Typically, all top forex brokers will required the following from you in order to get started:

Proof of ID – passport is usually best for this one.

Proof of residence – A bank statement of utility bill dated within 3 months is usually fine for this purpose.

Once you have provided these documents to your UK broker, your account will typically be verified very quickly and often through automated systems. If there is any discrepancy then it may take the broker an additional day or two to complete the process, but then you will be ready to trade.

Top 10 forex brokers UK listing for 2021

Here’s our list of the best british forex brokers.

1. IG markets

One of the most established companies operating since 1974, IG markets has amassed a lifetime of experience in trading. They are even recognized as one of the longest established CFD providers in UK. As of 2018, they boast a mighty number of 195,000 clients worldwide and access to over 16,000 markets. The broker are very well-regulated by the FCA (#195355) and provide a great selection of forex pairs, over 90 within their asset offering.

Trading with IG markets, beyond a trusted, and long standing reputation in the sector, you can get started with a reasonable minimum deposit at just £250 for traders based in the UK. Once you are trading you will also find a great value spread starting at just 0.6pips perfect for all types of trader. If you are into spread betting then this too is available to users within the UK at excellent rates.

2. Pepperstone

Based in both the UK and australia pepperstone has won numerous awards since its formation in 2010. One of these prestigious awards includes first place for risk management in australia in 2017. They are FCA regulated (#684312) and in terms of security, pepperstone boasts its segregated funds system which means traders funds aren’t automatically mixed in with other traders funds in some big pile of money. Instead, funds are deposited into segregated client accounts with barclays, one of the UK’s biggest banks.

With the broker you can access a wide range of social trading features where you can really benefit from the trades and knowledge of other platform users as well as trade for yourself through the standard or ECN razor account types. Pepperstone also stays very accessible with a minimum deposit starting at just £200 and a really fantastic spread from 0 pips and a rewarding active trader program.

3. Avatrade

Avatrade is not FCA regulated, however, it is regulated in ireland by the central bank of ireland and by the FSC, the regulatory body of the british virgin islands. They are also regulated in australia, japan, and south africa, and adhere to the markets in financial instruments directive, which provides traders with a good thick layer of protection. Additionally, avatrade are the official partners of manchester city FC, one of the UK’s biggest football teams.

In all, they are a very well-trusted irish broker and many are attracted by the fact that accounts can be opened from just $100 with a great spread betting account also available. They are also one of the few to provide fixed spreads to traders. These start from an excellent 0.9 pips across a wide range of assets available. These assets, including those available for spread betting in particular, number into the hundreds and include forex, commodities, indices, equities, bonds, and etfs. An array of choice for all.

4. XTB

XTB is perhaps one of the most highly regulated forex brokers in the world. They meet the regulatory standards of numerous countries aside from the UK where they are FCA regulated (#522157), and are proud of it. XTB also has offices in more than 10 countries, hold more than 14 years in the industry and use segregated accounts to store clients funds. During this time, they have received awards from forbes and bloomberg.

A very attractive point XTB holds for many traders is the fact that no minimum deposit is required. New traders in particular like that fact, and the ability to deposit with paypal for a 2% fee makes them extremely accessible. Add to that the fact they have more than 1,500 assets to choose from including 48 forex pairs with spreads from 0.1pips and 25 crypto assets and you can easily see how they have established such a wide trader base.

5. Admiral markets

Admiral markets takes regulation very seriously. When you first open their page, you are immediately struck by a pop up showing you in what countries they are regulated. Admiral markets also make it clear that not only do they also offer clients segregated accounts, they also adhere to the FSCS and have negative balance protection in place as well as being FCA regulated (#595450).

Beyond this, they are one of the best known market maker brokers in the sector with a diverse choice of more than 4,000 assets to trade in that includes bonds, etfs, and cryptocurrency. The fact that you can open an account with just $100 is an added attraction for all levels of trader. Once you are trading you can look forward to a packed educational section perfect for learning as a new trader, and spreads that start from 0 pips on forex providing the very best value.

6. Fxpro

Fxpro is a london-based, FCA regulated (#509956) broker that is additionally regulated by cysec and SCB, giving traders a high level of protection. In 2017, fxpro was voted ‘best FX broker’ by the shares awards and they are also the official main sponsor of watford FC and official partner of the F1 mclaren team – two fairly big names in the sporting world. Additionally, fxpro were awarded ‘most trusted forex brand’ by global brands magazine in 2017 as well as countless other accolades.

A minimum deposit starting from just £100 provides top value to all, in particular newer traders, and the broker also carries one of the best known spread betting platforms in the industry, fcpro edge to appeal to that type of trader. On top of everything, you can benefit from excellent spreads starting at 0 pips, and fixed spreads available through the MT4 trading platform too.

7. FXTM

FXTM, or as it is otherwise known, forextime, was established in 2011. The company is young, but has gained a lot of respect and won a number of awards in a short period of time. FXTM’s reputation has managed to garner them more than 10,000 clients in 135 countries worldwide. Their demo account also lets you play around with $1,000,000, which is more than enough to test their platform to its absolute limits. They are of course FCA regulated (#777911) and provide a total of six account types to choose from.

Of these 6 account types, 3 are dedicated ECN accounts with extremely fast execution speeds. The broker is particularly popular among african traders, for whom they cater very well. That popularity is extended thanks to a very accessible minimum deposit starting at just £10 as well as extremely competitive spreads from 0 pips and a very rewarding loyalty program.

8. Etoro

Etoro is of course recognized as a global leader when it comes to social trading. They are the number one in this regard and one of the top brokers generally in the UK and worldwide. Etoro are comprehensively regulated by the FCA (#583263), and are often one of the first choices for new traders entering the industry.

An affordable $200 minimum deposit is the first key to getting started with this household name. Prior to that you can hone your skills with an unlimited free demo account to get some practice in. Once you’re trading, you will experience one of the most user-friendly proprietary trading platforms in the business that is heralded by traders new and experienced alike. Only the USD base currency is supported so you may incur a small conversion fee, but the services and rewarding etoro club more than make up for this, with a host of great markets available.

9. CMC markets

CMC markets is an award-winning broker that was founded in 1989 with its headquarters in london while having branches in singapore and sydney. This forex broker is FCA regulated (173730) which has helped it to build trust among professional traders and aspiring ones.

Without a minimum deposit required, CMC is an attractive option to new and even experienced traders as CMC traders have free access to VPS (virtual private server). This allows traders to utilize automated algorithmic strategies which include expert advisors that are available 24 hours each day and 7 days every week.

CMC has spreads from 0.3 pips with no commissions which is helpful to new traders just getting started out in forex trading. Their trading platform, “next generation”, together with the general trading platform known as MT4, provides traders with a combination of sophisticated trading platforms that help traders to maximize their trading options.

They also offer free webinars, market insights, and access to a wide range of options like cryptocurrencies, government bond listing and spread betting thus providing traders with an extensive range of trading opportunities.

Cash rebates are also made available for skilled and highly active traders which highlight their commitment to the traders.

10. Oanda

Last on our listing of top UK brokers but still up there with the best, is oanda. Like the others, they too are very well-regulated by the FCA (#542574), and are another much chosen pick for new and experienced traders alike. They too are highly experienced and trusted, having been in the industry since 1996.

Trading here you will find the most competitive of trade opening requirements from £1 that keeps trading available to all, though there is no minimum deposit required. There is a vast range of markets to choose from with something for all levels and types of trader, and the spreads also remain competitive starting from 1 pips with the option to try spread betting if you are interested. This combination of features and trusted reputation has helped oanda remain at the head of the industry for decades.

British trader? Here’s what to look for in a forex broker

There are a few important key points to note if you are a british trader and choosing an FCA regulated broker regarding what is permitted and not in terms of the regulation. The FCA are well-known as one of the more stringent in terms of the rules they apply, though this is ultimately for your benefit and protection.

The first thing to keep in mind is related to leverage. Under FCA regulation like cysec and ESMA brokers, this is capped at 30:1 for no professional traders. As a professional you can access as much as 400:1 leverage if you meet the criteria to qualify as a professional trader.

Unlike some other regulators though, the FCA do permit spread betting, so if this is something that interests you, then an FCA regulated broker could be the right choice. They do also ensure negative balance protection is offered to all traders and that all funds are held in segregated accounts. A further protective measure comes from the ICF (investor compensation fund). They will cover up to £85,000 in losses due to bankruptcy or insolvency of your broker.

With those points in mind, here are three key things you should be mindful of when choosing a broker:

1. Look for UK regulated forex brokers

Regulation is vital. When choosing a UK forex broker, you should really be looking no further than choosing an FCA regulated broker as your first choice, since they are the most respected regulatory body in the region who will offer you the most protection as a trader.

2. Minimum trade size is important

When trading forex you should always have a look at the minimum trade size associated with your broker. In many cases, with a leverage of 30:1, you would need a minimum of £33 in order to open a position trading on a micro lot. In that case, you should aim to deposit more in order to have the best trading experience.

With that said, there are usually brokers who offer trading with a deposit as low as £10. So, take into account your intended deposit and find a broker that matches this need.

3. Are you into betting and trading? Try spread betting

Remembering that spread betting is legal in the UK and ireland, if you are interested in trying this, then you should choose a broker that makes it available with a user-friendly trading platform. It is tax-free but known as being quite a risky trading strategy. If it interests you though, you should certainly check our listing of the best spread betting forex brokers to choose one.

How to verify if a forex broker is regulated in the UK

Of course, when you choose a regulated broker, you should take a moment to verify that regulation for yourself. This can be easily done for most UK forex brokers through visiting the FCA official website. Once you are there you can look for the FCA register and look for the company name of the broker (which often differs from the broker’s name). This company name can usually be found at the bottom of your broker homepage.

Is forex trading taxable in the UK?

Yes, forex trading is taxable in the UK. With that said, there are a number of categories. If your earnings fall below £12,500 then you will not have to pay any taxes. From there though, a capital gains tax of 10% on amounts up to £50,000, and 20% on amounts over £50,000 applies.

We are not professional tax advisors, thus we strongly suggest you contacting local authorities if you don’t know how to manage this aspect

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Top and The Best FCA UK Regulated forex brokers

As the currency market is a decentralized entity, trading and processing of orders are carried out online. It is, therefore, necessary that you open an account with a broker that provides an online platform for trading forex. If you are a UK resident, then it is a good idea that you work with a forex broker that is based in the UK or at least has an office operating in the country. However, the problem is that there are a number of forex brokers out there in the market and identifying the right one to work with can be a challenging task, especially if you are new to forex trading.

Top UK forex trading brokers 2021

min deposit	spread	leverage	regulation	open account
$5	from 0.2 pips	500:1	FSA (saint vincent and the grenadines), cysec	visit broker
$5	from 0 pips	888:1 “*this leverage does not apply to all the entities of XM group.”	ASIC, cysec, IFSC belize	visit broker
$1	from 0 pips	2000:1	FCA UK, cysec, FSP, bafin, CRFIN	visit broker
$100	starting 0 pips	up to 400:1	FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
$300	floating, from 0 pips	500:1	FCA UK reference number 579202	visit broker
$200	starting 0 pips	500:1	ASIC australia, FCA UK	visit broker
no minimum deposit	1.2 pips	50:1	CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
$100	starting 0 pips	up to 500:1	FCA UK, ASIC australia, MAS singapore	visit broker
$1	fixed spread from 3 pips	up to 1:1000	CBR, cysec and FFMS	visit broker
$250	as low as 0.1 pips	up to 400:1	ASIC australia and FCA UK	visit broker

Risk warning: 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.

This is where our services can be of great help to you. We have analyzed and reviewed the operations of some of the major brokers that provide the forex trading platform in the UK on the basis of certain specific criteria listed below in order to make things easier for you. You can use this as the starting point of your research. You don’t have waste your precious time or hard earned money in order to evaluate hundreds of brokers operating in the country. You just have to find out as to which of the forex brokers listed in our site are best suited to your needs and do further research to make sure that you are making the right choice.

Regulation by a local authority is one of the key aspects you need to look for when identifying the best forex brokers in the UK. The main regulatory authority in england is the financial conduct authority (FCA). The FCA is the regulator for the industries in the financial services sector in the country. When reviewing the forex brokers operating in the country we have taken this aspect into consideration.

Apart from regulation, other aspects to be considered when choosing best forex brokers in UK are as follows:

Whether the company that provides the forex trading platform is adequately capitalized or not

How reliable are the trading platforms offered by the forex broker

What type of broker is the forex trading platform provider: non dealing desk (straight through processing), dealing desk (market maker/dealer) or electronic communications network (ECN)

What types of accounts does the forex broker offer

How much leverage and margin does the forex broker offer

What kind of spreads does the broker provide

Does the broker charge any commissions or fees for the trades executed by the you

How much money has to be deposited initially in order to start trading currencies on the broker’s platform

When it comes to transferring funds what currency options does the broker make available to you

What payment methods does the broker offer

What are the broker’s terms and conditions for withdrawal of funds

How responsive is the customer support services provided by the forex broker

This is definitely not an exhaustive list of things that you should look into when choosing the best forex broker in the UK. There are a few other aspects as well. These include customizations options, order entry types, automated trading options, trading alerts, strategy builders and backtesting options, among others. Further, it is better to look for brokers that offer free demo accounts so that you can try out their platforms prior to opening an account and funding it.

Here are some of the best forex brokers in UK:

1. Fxopen UK

Fxopen UK, a popular metatrader ecn forex broker in the UK, offers several helpful features on their platform including expert advisors, technical analysis tools, indicators and professional graphics. Founded in 2013 and headquartered in the london UK, fxopen is authorised and regulated by the financial conduct authority under FCA firm reference number 579202. FX OPEN UK accepts traders with minimum deposit required to start trading on their platform is $300 and the minimum lot size offered by the broker is 0.01. The forex broker offers leverage up to 500:1 and makes available floating spreads starting from 0 pips. When it comes to trading platforms, fxopen offers a wide range of platforms including metatrader 4, webtrader and mobile trading platform. As regards transfer of funds, options available with fxopen include wire transfer, credit/debit cards, neteller and skrill moneybookers, payza and webmoney.

2. Plus500 UK

The online forex broker plus500 UK ltd is authorized as well as regulated by the financial conduct authority. The forex broker services both institutional customers and retail investors and offers no dealing desk currency trading facility. PLUS500 UK which has its headquarters located in the UK was founded in 2008. Traders have to deposit a minimum of €100 if they want to use the broker’s platform for trading forex. The minimum position size offered by the company 0.01 and the leverage that traders can avail is 294:1. Spreads can be as low as 0.01%” (0.01% = spread for EUR/USD). Plus500 offers multiple trading platforms such as windows trader, webtrader, windows 10, android app, windows phone app & iphone app/ipad app/apple watch app. Payment options offered by the forex broker include credit card, paypal, wire transfer, skrill moneybookers.

XM, an online currency trading platform provider, was founded in 2009. The forex broker offers metatrader trading platform and more than 100 instruments from asset classes such as currencies, cfds on stocks and precious metals. XM which serves both institutional as well as retail customers in more than 196 countries has established over 4 offices around the world. Traders who open accounts on their platform will have to deposit a minimum of $5 in order to start trading. While the minimum position size offered is 0.01, the leverage can go up to 888:1. Xemarkets is regulated broker by ASIC australia, cysec, FCA (UK), bafin. XM broker offers low spreads from 1 pips. Multiple forex platforms offered by the broker include metatrader 4, and web, iphone/ipad and mobile trader. When it comes to payments, options include credit/ debit card, bank wire transfer, local bank transfer, neteller, moneybookers skrill, western union, moneygram, webmoney, china unionpay, SOFORT, ideal.

5 benefits of forex trading with FCA UK regulated brokers

Any forex trader will tell you that the first and most important step in successful forex trading is choosing a trusted broker.

The right broker will provide you with the required advice, and platform to make forex trading a profitable venture. FCA UK forex brokers are the best option to give you what you need before you can start trading. But who are FCA UK forex brokers?

FCA UK forex brokers are brokers or brokerage firms that are regulated by the FCA. These firms meet all the requirements set by the FCA for safe forex trading.

The FCA UK forex brokers provide forex traders with many benefits, here are some of them;

1. Guaranteed credibility

All forex brokers that are regulated by the financial conduct authority (FCA) are required to submit financial reports to the regulatory body. This body scrutinizes the reports to make sure they are in line with set policies for secure and efficient forex trading. This, therefore, means that regulated brokers are always credible since they are monitored. Also, another role of FCA is to fairly resolve disputes between forex traders and brokers. So, trading with FCA UK forex brokers means that you are protected in case any disputes arise between you and your forex broker.

2. Ensure investors’ money is safe

According to the FCA rules, FCA UK forex brokerage firms must keep their funds separate from the investors’ money. Keeping investors funds in a different account ensures that the brokerage firm cannot use the clients’ funds to cover any of its expenses.

Having segregated accounts safeguards the investors’ money in case of a financial crisis or bankruptcy. In such scenarios, the broker cannot use your money to pay its creditors. The FCA requires that the broker compensates the investor first. So when working with a regulated broker you are guaranteed safety for your money despite any financial situation the broker might face.

Given the uncertain financial conditions, you have to be sure your money is always safe. FCA has got you covered! Time and again, the regulatory body reviews all the FCA UK forex brokerage firms to ensure they maintain separate accounts for investors and the firm to keep your money protected from uncertain market conditions.

3. Enhances the chances of making profits for investors

It is usually easier to trade and make profits with FCA UK forex brokers than unregulated brokers. FCA monitors all regulated brokers to ensure they provide the right tools to make forex trading simpler for the investors. It does this by ensuring the software used by brokers for trading meets the traders’ needs.

In addition, it ensures that forex traders have access to the right information and support from the brokers. The FCA UK forex brokers should be able to answer the investors’ questions and provide help in case of any difficulties. This is in a bid to make forex trading easy and profitable to the traders.

4. Transparency in trading operations

Transparency is an essential part of successful forex trading. Investors have to stay informed about their transactions by being provided with accurate financial information including historical records and other fiscal reports. This information assists traders in making well-thought decisions when conducting their trade.

It is the responsibility of brokers to provide accurate information to the traders. Regulated brokers are compelled by the FCA to provide accurate information to investors failure to which they might lose their licenses.

Investors can complain to the FCA if they feel their brokers do not provide them with transparent trading experience.

5. Protects the value of security to enhance the investors’ safety

The FCA monitors forex brokers UK by periodically checking their fiscal reports. Through these reports, the regulatory body can determine whether a broker is trading in a way that increases the overall security of their investors. The FCA then penalizes, and in some cases revokes the market membership of brokers whose trading activities decreases investor security. So in order to stay in the market, regulated brokers are always working hard to improve their investors’ security.

If you are an investor who wants to make your forex trading venture profitable then it is safe to go for FCA UK forex brokers as they are regulated. Regulated brokers provide you with many benefits and the right conditions necessary to trade successfully. All the best in finding the right broker!

So, let's see, what we have: A list of forex brokers, registered in united kindgom and regulated by financial conduct authority (FCA). At list of registered forex brokers in uk