With reliable regulation, access to popular trading platforms, and comprehensive educational and analytical materials, Tickmill becomes an attractive choice for traders of different experience levels. Established in 1974, IG has grown to support over 313,000 clients globally, giving access to 17,000+ markets, including major and minor currency pairs, indices, commodities, shares, and ETFs. FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support.
Is Forex Trading Legal in the UK?
- This means that should the company go bankrupt, the client funds will not be affected.
- Saxo’s research and analysis tools are also highly versatile, albeit slightly overwhelming.
- All you have to do is provide the requested information, including personal details, and answer a few basic questions.
With ultra-tight spreads starting from 0.0 pips, multiple platform options including MT4 and MT5, and fast execution speeds of 0.1 seconds, it’s designed for performance. Pepperstone also achieved the top score for the trading environment because our testing on demo accounts showed their execution speeds were the fastest of all UK brokers. Finally, the broker also scored well for its award-winning customer service and trust making them the best ‘well-rounded’ UK forex broker for currency and CFD trading. To trade forex in the UK, you must open an account with a forex broker and use an online trading platform to place your trades. You can choose a live account that risks your funds or practice on a risk-free demo account.
You should ensure the commission isn’t over $9; otherwise, there isn’t a difference between paying commission or spread-only. While reviewing FxPro, I used the cTrader platform, which is essentially the same as the MetaTrader 4 and 5 platforms combined but with a better interface, in my opinion. The cTrader is easy to use and has 65+ indicators pre-installed into the platform, which is more than MT4, and it allows you to program your own custom indicators. What I found useful was the way the order tickets allow you to adjust your stop loss and take profit orders in monetary value instead of pips. I found this makes it easier to manage your risk as you’ll always know your potential loss and profit, preventing you from making mistakes with the wrong pips calculation.
How to Open a Paper Trading Account in 2025? A Step-By-Step Guide
With four available mobile apps, FxPro offers a strong range of options for beginners and advanced traders. Plus500 is a powerhouse in the world of CFD trading and has left a mark with its drive toward innovation. The broker was founded in 2008 and now offers its services in over 50 countries worldwide. Plus500 is a large publicly-traded company listed on the London Stock Exchange and regulated by the top-tier FCA and CySEC.
Are Profits From Forex Trading Taxable in the UK?
A guaranteed stop-loss, also known as a G-stop, ensures that you automatically exit a position when the market reaches a certain level. Regular stop orders are subject to slippage, but a G-stop requires your broker to fulfil your order at exactly the price you set. We used demo and live accounts to vet available trading platforms, tools, and other resources.
For example, profits from spread betting on currencies are generally exempt from capital gains and income taxes, making it a popular choice for UK traders. UK traders enjoy some of the best trading conditions when it comes forex brokers uk to the currency exchange market. To open an account with the best UK forex brokers, you’ll need to provide personal information, proof of identity and proof of address.
Assessing Your Trading Goals
- With four available mobile apps, FxPro offers a strong range of options for beginners and advanced traders.
- Consider tiered trading accounts for more flexibility as you gain experience.
- Besides a combination of professional-grade trading mechanisms and affordable pricing, IG offers far-reaching educational materials created by industry experts covering all the bases of forex trading.
- Clients can also benefit from a compensation fund in the event of broker insolvency.
The number should always be located on the website, nearly always near the bottom of the page in the footer section. Over 45,000 businesses are regulated by the FCA, and the number continues to grow. First, you should check whether the broker is regulated by the UK Financial Conduct Authority.
Trading Platforms and Analysis Tools
You can open positions with smaller trade sizes from 1 unit compared to 1,000 units from other brokers, allowing you to trade with smaller trading balances. I was able to open a 1 unit position on EUR/USD with a margin of £0.03 or 100 units for £2.77. OANDA scored top marks (100/100) in my tests for safety as they are authorised by among the most regulators out in the markets with five Tier-1 authorities. Naturally OANDA is regulated by the FCA (the only one you need to be aware of as a trader in the UK) along with other top authorities like ASIC and the US’ CFTC/NFA. I like the platform because of its large range of technical indicators, which stand at 400+ built indicators, 100,000 public indicators and 11+ smart drawing tools.
Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. Pepperstone is the best forex broker in the UK based on our 2025 comparison of FCA-regulated brokers. This global broker stands out for its fast execution speeds, excellent MT4 offering, and competitive spreads.
What Are The FCA Regulations In The UK?
Moreover, its responsive customer support and promotional bonuses enhance the overall trading experience, making XM a standout broker in the UK market. Overall, XM can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 1000+ trading instruments. Yes, Eightcap is regulated by several top-tier authorities, including ASIC (Australia), FCA (UK), CySEC (Europe), and SCB (Bahamas).