The United Kingdom is one of the biggest financial centers for forex trading in Europe and in the world. The regulator in the UK, Financial Conduct Authority (FCA), is of highly valued by the traders. The regulation is like this one in Europe as until recently the United Kingdom was part of the European Union.
We rated the best forex brokers in the UK in the list below. All the forex and CFD brokers below are with regulation from FCA.
The most important criteria when you choose your forex brokers is the regulation. If you trade in broker under FCA regulation (all in the list below), your funds are protected up to £85 000 (if your broker applies for bankruptcy). This fund’s protection is higher than the protection in European union. Some of the brokers have a contract with insurance companies that provide even bigger protections (£500 000 or even more).
Other criteria could be payment methods, how fast and easy are deposits and withdraws. Support of different languages, analysis, and different forex tools which you improve your trading results.
| Forex Broker | Min deposit | Leverage | Deposit method | Platforms | Spread | Swaps | Support |
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| Pepperstone Visit |
200 AUD | 1:30 |
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| Plus500 Visit |
100 USD | 1:30 |
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| XTB Visit |
250 USD | 1:30 |
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| IG Markets | 300 USD | 1:30 |
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| CMC Markets | 0 USD | 1:30 |
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| Gain Capital | 250 USD | 1:30 |
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The variety of trading platforms is big as the UK forex market is one of the biggest in the world. Most of the brokers offer MetaTrader 4 and MetaTrader 5. Also, some brokers offer C Trader and own developed trading platforms.
The leverage is limited to 30:1 for forex pairs. Minors forex pairs are limited to 20:1, the CFDs based on major forex indices are limited to 20:1, and the other stock indices to 10:1. These leverages are retail clients. If you could cover the conditions for professional clients, you receive leverage up to 500:1. Another option is if the leverage is an important part of your trading strategy, you could check brokers in other jurisdictions like Australian one (ASIC) or offshore brokers.
If your trading strategy is not limited only to forex, then the choice of broker that offers a big number of trading instruments is important. Some brokers also offer world indices, single stock CFDs, ETF CFDs, cryptocurrency CFDs, and a lot of other CFDs depending on your needs.
United Kingdom (UK) offers one of the best regulations in the world for trading forex and CFDs. The protections of funds are high, and the variety of different trading platforms, deposit methods, and the list with trading instruments could fit everyone.
The main downside is the limited leverage for retail clients.
Miroslav Georgiev is Senior Risk Executive with 20+ years of professional wide-ranging experience in multinational forex companies. Take part in Global setup and development of Forex and CFD being an active part of the Business Team. Build and manage Risk management departments and teams.
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