Best Forex Brokers in Europe for 2023 Ranked & Reviewed

XTB offers xStation5, one of the best trading platforms in the industry. It is user-friendly, intuitive, powerful, and fast, and has many advanced features found in popular third-party platforms, like MT4. It offers a range of customisable charts, risk management tools, multiple order types, price alerts, and real-time performance statistics to evaluate your trading activity and identify areas for improvement. XStation5 also displays sentiment data on its dashboard so traders can view the percentage of traders who bought or sold particular instruments.

• With IG Markets’ single trading account traders have access to over 17,000 tradeable instruments, many more than most brokers.
• The EUR/USD would be a currency pair for trading the euro against the U.S. dollar, for example.
• One way the FCA protects consumers money is through the Financial Services Compensation Scheme .
• There’s a wealth of education and research resources available through a number of forex trading platforms, so take the time to avail yourself of this information.
• The Forex market trades an enormous volume of trades per day, over $5 trillion to be more precise.

The Forex industry in the UK is highly competitive, and not all Forex brokers in the UK are suitable for all types of traders. Before considering a UK-based Forex broker, each trader needs to determine his/ her needs and trading style. Sometimes size and experience matters, especially when it comes to choosing a forex broker that will meet your needs. London has been a financial center for centuries, and this includes the world of foreign exchange. Early in the last century, when telex machines were used to communicate cross-border settlement information, the British Pound was the world’s reserve currency. Settlements were made over “cable”, as it were, and the nickname of “cable” soon came to mean the Pound Sterling.

Broker Types

However, if you are designated as a professional trader, you can trade CFDs on cryptocurrencies. CMC Markets is a giant in the world of CFD trading, founded in 1989, long before forex trading became mainstream. The London-based broker is listed on the London Stock Exchange under the ticker CMCX.

You can also trade cryptocurrencies, minimum spread bets, and CFDs, as these services make it unique compared to other top forex brokers in the UK. VT Market’s best brokers for forex trading offer retail traders and institutional clients superior forex CFD trading experience. Our analysis found that VT Markets, the best forex brokers in the UK, was established in 2016. It is a subsidiary of Vantage Global, a regulated company of global repute.

List of Top UK Forex Brokers & Platforms

To mitigate this risk, foreign exchange markets provide a way to hedge currency risk by fixing a rate at which the transaction will be completed. This is accomplished by buying or selling currencies in the forward or swap markets in advance, which locks in an exchange rate. Because countries need to trade with one another to thrive, the foreign exchange market tends to be the largest and most liquid asset market in the world.

Platforms like Currenex offer a form of DMA, whereby the platform aggregates orders from multiple brokers showing liquidity depth. Forex brokers like Saxo Markets and Interactive Brokers offer DMA currency trading through currency futures. There are a couple of FX ETFs to trade that track GBP, EUR and USD, but there are no OTC options markets, nor can you trade on exchange futures with DMA. UK-based brokers are eligible to provide their service all around the world, hence many brokers overseas have established entities in the UK. AvaTrade’s reputation as a client-focused broker was enhanced with the launch of the AvaProtect tool, which allows traders to purchase loss protection for a time. Any losses during that time are fully refunded, but any gains are for the traders to keep.

From introductory topics such as what is forex through to advanced investment opportunities, our expert team has you covered. MetaTrader4’s impressive features combined with our superior execution technologies is a truly winning combination. The success of MT4 is largely down to its powerful charting functions, large number of available indicators and its algorithmic trading functionality. MT4 has long established itself as the standard in online trading due to it being safe, secure, easy to use but also packed with features for advanced traders. Whether you are a serious forex trader who requires professional performance and flexibility, or an investor who needs access on the go, we have the right platform for you. Trade precious metals including Gold and Silver with low spreads and fast execution.

XTB – Market spread from 0.1 pips; 48 currency pairs

One advantage of spread betting on forex is that your P&L will be in £, so you do not have to worry about FX fees on your resulting profit and loss. Spreadex also offers guaranteed stop losses, for added risk management and trailing stops, which move along with your profitable positions. For forex traders, that look at futures levels, you can also work limits with a time limit, so you don’t need to worry about leaving GTC orders open indefinitely. Forex brokers let you speculate on the price of currency pairs going up or down with leverage through spot FX, CFDs and financial spread betting.

Pepperstone supports a variety of copy-trading platforms, including MirrorTrader, myFxbook, and DupliTrade, depending on the trader’s jurisdiction. Forex trading can be complicated, but it’s certainly possible for beginning investors to diversify their portfolios by trading currencies and other forex assets. It would be wise to exercise caution and take the time to educate yourself on the assets in which you wish to trade. There’s a wealth of education and research resources available through a number of forex trading platforms, so take the time to avail yourself of this information. The answer to this question is dependent on many individual circumstances, including time, capital, and trading strategies.

This forex platform has mobile app support, which supports both iOS and Android platforms, and can be downloaded from the Apple store and Google play. It has a trading standard stop loss feature, which enhances its platform experience, unlike other platforms. Supports forex market analysis and provides an average execution speed of 0.05 seconds.

These stops can be guaranteed stops or trailing stops that move based on how profitable your position is). Among thenumerous, even very sharp requirements in regard to operations, the applied authorization provides asafe trading environmentto the investors. For more details and Why trade with FCA Regulated Forex Brokers read the detailed article by the link.

Weekend trading

And since major currency pairs are the most liquid and therefore most popular to trade, you should work with a broker that trades most of the major pairs. After funding your forex account and gaining access to a forex trading platform, you should be ready to dive into the deep end and start trading. Although you might be familiar with the term forex trading, not all online brokers allow for the trade of currencies.

A wide variety of markets and instruments to trade, with over 2,500 available CFDs. We tested FXCM using both MetaTrader 4 and MetaTrader 5 for desktop, web, and mobile. VPS enables traders to install their expert advisors on a dedicated server that runs 24/7 without downtime. FXTM also has helpful video tutorials covering how to use MetaTrader on their YouTube channel. Bitcoin and Ethereum can be traded against different currencies – for example, BTCUSD, BTCJPY, and ETHUSD, ETHEUR. Traders can go long or short and trade crypto with minimal deposits and low costs. We performed our live tests using the popular MetaTrader 4 platform.

Spread betters simply speculate on whether the market price of an asset will go up or down. Spread bets differ from most CFD trades in that they expire after a set period. These accounts are geared toward experienced traders looking for tighter spreads. The spread is the gap between the bid and offer prices and is essentially the cost of entering a trade. Some CFD brokers will also charge commissions, typically for ECN accounts with narrower spreads.

When this happens the bid/https://trading-market.org/ price you can trade at will be better, but you will be charged a commission from your account. This could be for example 1 pip per trade, with a minimum commission fee. This type of trading is more suited to higher volume or larger traders who scalp the market for short-term profits, or work large orders over the available volume on the order book. Interactive Brokers for example, caters to sophisticated forex traders and charges a commission of 0.0008% on forex trades. London accounts for more foreign exchange, or forex, trading volume than anywhere else in the world, so it’s no surprise you may be seeking a broker in the United Kingdom to open a forex trading account.

• After all, the more you trade the more the broker makes from you as a customer.
• It’s a good platform to get started on as you can trade forex from as little as £0.5 a point.
• This is especially designed to be helpful to forex traders – a lot of whom trade outside of regular office hours and make use of Twitter for FX trading tips.
• Independent regulatory and governmental bodies in different jurisdictions, regulating and monitoring on a more local level therefore is the current structure we see in place today.
• The broker also offers Direct Market Access accounts, which allow high-volume traders to benefit from various discounts and reduced commissions.

Trade on both falling and rising prices across thousands of markets. Products and services of Swissquote are only intended for those permitted to receive them under local law. We conducted a test drive for each platform, digging into available order types, charting, watchlist, and UX.

As a london forex brokers, 5 star rated broker, our client’s satisfaction is in the center of our focus. Spread betting involves speculating on the price direction of an asset using a set amount of money per point of price movement. Spread betters have no ownership of the underlying asset and only need to deposit a small percentage of the value of the market position. Brokers regulated by the FCA offer segregated funds, negative balance protection, and a compensation fund.

Can I trade with non-FCA-regulated brokers in the UK?

On the negative side, although XTB does not charge a fee on withdrawal amounts greater than €80, they charge a €16 fee for smaller amounts. Additionally, their product portfolio is limited to CFDs and Forex; after 12 months of inactivity, they start charging €10/month. CMC Markets has its own web platform and mobile app available in many languages, which are highly customisable to fit your needs. The biggest forest broker in the world must have a high average daily transaction volume . However, it is advisable to inquire with your broker about the preferred modes of deposit. Impressively, Public.com also permits the purchase of fractional shares .

You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.

Still however, there a number of high leverage forex brokers in the UK. Traders can benefit from low pricing, a range of full-featured trading platforms, in-depth market research, and an advanced mobile app. All of this is to say, if you go with FOREX.com, you’ll be able to start trading forex in no time. The minimum initial deposit for opening a standard or Trader account is just £100, making City Index very accessible.